Final Order 1

Order Details: Ex-parte Judgement
Pdf Text: 1 Comm. Suit No.2692019
MHCC010065892019 Presented on : 28/06/2019
Registered on : 18/12/2019
Decided on : 5/1/2023
Duration : 3Y/M/18D
Exh.16
IN THE CITY CIVIL COURT AT MUMBAI.
COMMERCIAL SUIT No.269 OF 2019
Union Bank of India(eCorporation Bank)
a body corporate constituted under the
provisions of the Banking Companies
(Acquisition & Transfer of Undertakings)
Act, 1980, having its Zonal Office at Union
Bank Building, 6th floor, 66/80 Mumbai
Samachar Marg, Fort, Mumbai400 001 and
a Branch Office amongst others at Union
Bank of India (eCorporation Bank), 520,
Mangireesh Building, Ground Floor, L.J.
Road Cross, Mahim, Mumbai400 016.
...PLAINTIFF
VERSUS
Raja Mohamed Ismail Shaikh
Age : Adult, Occ: Not known having
address at DMU279, Approach Road, Opp.s
Nagina Masjid, Tardeo, Tulsiwadi, Mumbai
400 034.
...DEFENDANT
Shri. Sandip Shukla i/b. V. B. Tiwari and Co., learned Advocate
for plaintiff.
Defendant exparte.
CORAM : HIS HONOUR JUDGE SHRI. N.P. TRIBHUWAN
(C.R.NO.32)
E XP A R T E J U D G M E N T
(Delivered on 5/1/2023)
This is a suit for recovery of sum of Rs.3,10,644/ and
further interest @ of Rs.13.90 p.a. on principal sum of Rs.2,33,611/
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from the date of suit till realisation of amount.
2. It is case of plaintiff that it is a body corporate established
under the Banking Companies (Acquisition and Transfer of
Undertakings) Act, 1980. On 16/02/2016 defendant approached to the
plaintiff for commercial CCVL loan of Rs.4,78,000/ for purchasing car
Ritz LXI. Plaintiff agreed to advance him the said loan repayable in 60
equal monthly installments together with interest @ 11.90 % p.a.
(floating rate). After scrutinizing the documents submitted by the
defendant, the plaintiff had sanctioned him loan of Rs.4,78,000/ on
19/3/2016 upon terms and conditions. Defendant has executed
agreement for loan dtd.23/3/2016, letter of undertaking and
agreement for hypothecation dtd.23/3/2016 in favour of plaintiff.
Thereafter, plaintiff disbursed the aforesaid loan amount to defendant.
3. However, defendant failed and neglected to pay monthly
installments regularly. Thus, his account became NPA on 30/9/2017. As
on 24/1/2019 the defendant was in outstanding dues of Rs.3,18,888/.
Hence, plaintiff had sent legal notice to defendant on 24/1/2019. But
defendant did not pay the outstanding dues. Defendant has made last
payment of Rs.11000/ on 29/3/2019. Therefore, defendant is liable to
pay sum of Rs.3,10,644/. Hence, this suit
4. Defendant served with suit summons but did not appear.
Hence, suit proceeded exparte against it as per order dtd.8/10/2022.
5. On above facts following points arise for determination and
this court and recorded findings thereon for the reasons stated as under.
POINTS FINDINGS
1. Whether the plaintiff proved that it has
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3 Comm. Suit No.2692019
advanced Commercial CCLV loan of
Rs.4,78,000/ to plaintiff?
…Yes.
2. Whether the plaintiff proved that
defendant is in outstanding sum of
Rs.3,10,644/ ?
…Yes.
3. Whether plaintiff is entitled for recovery of
sum of Rs.3,10,644/ with interest @
13.90 % p.a.?
...Yes.
4. What order and decree? ...As per final
order.
REASONS
AS TO POINT Nos.1 to 3 :
6. Heard learned counsel of Plaintiff. Plaintiff has examined
its Senior Manager (PW1 Shashi Yogendra Bhardwaj) to prove its case.
He reproduced all content of plaint in his chiefexamination. His
evidence is supported by documentary evidence as under : Ex.8 Loan
Application dated 16.02.2016, Ex.9 Sanction letter dated 19.03.2016,
Ex.10 Agreement for term loan dated 23.03.2016, Ex.11 Letter of
undertaking/declaration from the borrower, Ex.12 Agreement for
hypothecation dated 23.03.2016, Ex.13 Legal notice dated 24.01.2019
and Ex.14 Statement of accounts.
7. Plaintiff has filed copy of Gazette of India dtd.4/3/2020
pertaining to Finance Department. The said copy is annexed with
Chamber Summons No.157 of 2021. As per the said Gazette the Central
Government after consultation with RBI amalgamated Corporation
Bank and Andhra Bank into Union Bank of India. In view of evidence of
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4 Comm. Suit No.2692019
PW1 Sr. Manager of plaintiffBank and documentary evidence (Exh.8
to 14), it becomes clear that on the request of defendant on 19.3.2016
plaintiff (earlier Corporation Bank) has sanctioned Commercial CCVL
loan of Rs.4,78,000/ for purchasing vehicle for commercial purpose. At
the time of sanctioning the said loan defendant has executed agreement
for term loan, letter of undertaking and agreement for hypothecation of
vehicle in favour of plaintiff. It seems that defendant agreed to repay
loan in 60 equal monthly installments with floating interest @ 11.90 %
p.a. Statement of account shows that as on 23/4/2019 an amount of
Rs.3,10,644/ was outstanding in loan account of defendant.
8. Evidence of PW1 remained unchallenged. His evidence is
supported by documentary evidence mentioned in para supra. There is
no reason to disbelieve his testimony. Hence, plaintiff succeed to prove
that it has advanced above mentioned loan to defendant with
conditions. The amount of Rs.3,10,644/ is due and payable by
defendant to plaintiff with interest at the rate of 13.90% p.a.(floating).
Therefore, plaintiff is entitled for the recovery of the same. Hence, I
answered point Nos.1 to 3 as above. Hence, I pass the following order.
ORDER
1. Suit is decreed with costs.
2. The defendant is directed to pay to plaintiff the amount
of Rs.3,10,644/ and interest @ 13.90 % p.a.(floating)
on principal sum of Rs.2,33,611/ from the date of suit
till realization of the said amount
3. Decree be drawn up accordingly.
Date : 5/1/2023.
(N.P. Tribhuwan)
Judge, City Civil Court,
Mumbai. C.R.No.32
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Dictated on : 5/1/2023
Checked on : 5/1/2023
Signed on : 5/1/2023
CERTIFIED TO BE TRUE AND CORRECT COPY OF THE ORIGINAL
SIGNED JUDGMENT/ORDER”
5/1/2023 Mrs.Rupali S. Bhor
UPLOAD DATE AND TIME NAME OF STENOGRAPHER
Name of the Judge(with CR
No.)
HHJ SHRI. N. P. TRIBHUVAN
(C.R.No.32)
Date of pronouncement of Order 5/1/2023
Order signed by P.O. on 5/1/2023
Order uploaded on 5/1/2023
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