Final Order 2

Order Details: Ex-parte Judgement
Pdf Text: CS No.100231 / 2019,
UCO Bank – Manju Judgment (Exh.20), 1 of 5
MHCC010068572019 Suit Filed on : 04.07.2019
Evidence Over : 01.02.2024
Arguments Heard : 02.02.2024
Decided on : 02.02.2024
Duration : 04 Y, 06 M, 29 Days
City Civil & Sessions Court, Mazgaon, Greater Mumbai
Court Room No. 31 – Commercial Court
(Additional District Judge : Vijay S. Hingne, LL. M.)
Commercial Suit No. 100231 / 2019 Exhibit No. 20
Plaintiff : UCO Bank
Head Office : 10, Biplabi
Trailokya Maharaj Sarani, Kolkata – 700 001.
Branch Office: UCO Bank Chowpatty Branch,
Bharatiya Vidya Bhavan Pandita Ramabhai
Road, Chowpatty, Mumbai 400 007
VERSUS
Defendants 1 M/s. Manju Bangles & Immitation
Proprietor : Raghunathram Ruparam Mali
Shop No. 15 B, Acme Shopping Centre,
Opposite Railway Station,
Malad (W), Mumbai 400 064.
2 Mr. Raghunathram Ruparam Mali
Proprietor : M/s. Manju Bangles & Immitation
Room No. 2, Ram Prasad Chawl,
Shivajinagar, Kurar Village,
Malad (East), Mumbai 400 097.
Appearances
Plaintiff
: Adv. Ms. Manali Dixit
Defendants
: Ex-parte
Suit for Recovery of ₹. 9,31,771.68/-
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CS No.100231 / 2019,
UCO Bank – Manju Judgment (Exh.20), 2 of 5
J U D G M E N T
(Delivered on this 2nd Day of February, 2024)
Suit is preferred for recovery of .	₹ 9,31,771.68/- with
interest @ 8.85 % per annum.
Case of Plaintiff :
2) Plaintiff UCO Bank, Mumbai, Maharashtra,
(hereinafter,
plaintiff) is Banking Institution.
Defendant No. 1 M/s. Manju Bangles & Imitation is
proprietorship firm of Defendant No. 2 Raghunathram Ruparam
Mali (hereinafter,
defendants).
3) On 18.01.2018, defendants applied under
Pradhan
Mantri Mudre Yojana for Term Loan of
.	₹ 8,50,000/-. Vide
Sanction Memorandum Dt. 30.01.2018, plaintiff bank sanctioned
loan of
.	₹ 8,50,000/- in Loan Account No. 1591050000514 of
defendants. Defendant executed Promissory Note, Hypothecation
of Goods, etc. Through these documents, defendants agreed to
repay loan of
.	₹ 8,50,000/- in 60 EMIs. However, defendants
failed to satisfactorily conduct the facility and to observe the
terms and conditions from security documents. Therefore, vide
Legal Notice Dt. 14.06.2019, plaintiff asked defendants to repay
outstanding balance. But, defendants failed. Hence, plaintiff
preferred present Commercial Suit No. 100231 / 2019, for
recovery of ₹. 9,31,771.68/- with interest @ 8.85 % per annum.
Defendants :
4) Plaintiff filed Affidavit of Service at Exh. 8 (Dt.
22.11.2023) stating that, defendants are served on
16.07.2023, by
paper publication in
Business Standard and
Pudhari at Mumbai.
Defendants failed to appear in the Court. Hence, vide
Order Dt. 22.11.2023, the Suit was directed to proceed ex-parte.
Evidence of Plaintiff :
5) Plaintiff adduced oral and documentary evidence as :
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CS No.100231 / 2019,
UCO Bank – Manju Judgment (Exh.20), 3 of 5
PW1, Exh.9 : Evidence of Manager of plaintiff Pradip Buge
Exh.11 : Original Loan Application Dt. 18.01.2018
Exh.12 : Original Sanction Memorandum Dt. 30.01.2018
Exh.13 : Covering letter of UCO Bank
Exh.14 : Promissory Note Dt. 31.01.2018
Exh.15 : Hypothecation of Goods Dt. 31.01.2018
Exh.16 : Statutory Notice Dt. 14.06.2019
Exh.17 : Statement of Account
Exh. 18 Non-Starter Report
Exh. 19 : Evidence closure pursis filed by plaintiff.
Points for determination :
6) Heard Adv. Ms. Manali Dixit for plaintiff. Perused
Record. Points for determination, findings and reasons are as
follows :
Points
Findings
1. Is plaintiff entitled for recovery
as prayed?................................ Partly in Affirmative
2. What Order?............................ As Final Order.
R E A S O N S
Reasons as to Point No. 1 & No. 2 :
7) Plaintiff has examined its Manager Pradip Buge (PW1,
Exh.9). He deposed in accordance with pleadings from Plaint and
claimed that, defendants have avoided repayment. He also filed
original documents as Loan Application, Sanction Memorandum,
Covering letter of Bank, Demand Promissory Note, Deed of
Hypothecation at Exh. 11 to Exh. 15.
According to plaintiff, these documents are original and
they bear the signature of defendants.
8) Despite service of Legal Notice and Writ of Summons,
defendants did not appear in the Suit to contend that, they have
repaid the dues or that, for some reasons, they are not liable to
make repayment.
Thus, after having knowledge of Suit, defendants have
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CS No.100231 / 2019,
UCO Bank – Manju Judgment (Exh.20), 4 of 5
kept oral and documentary evidence of plaintiff, unchallenged.
9) Considering the unchallenged evidence, then, on the test
of preponderance of probability, it is held that, loan-transaction,
as alleged by the plaintiff, had taken place and that, defendants
have defaulted repayment. Therefore, plaintiff is entitled for
recovery of claim amount, with interest.
Limitation :
10) Plaintiff claimed that, loan was provided to defendants,
on 30.01.2018. Therefore, three years limitation for plaintiff to
prefer the Recovery Suit will conclude on 29.01.2021.
Suit is filed on 04.07.2019. Therefore, it is within
limitation.
Interest:
11) Plaintiff has claimed interest @ 8.85 % per annum.
Perusal shows that, vide Sanction Memorandum Dt.
30.01.2018 (Exh.12), parties had agreed rate of interest as 8.60 %
per annum. If parties have agreed on particular rate of interest,
then such rate of interest can be awarded. In present case,
plaintiff has claimed rate of interest as 8.60 % per annum. Hence,
said prayer, of the plaintiff is accepted.
12) In view of unchallenged oral and documentary evidence
of the plaintiff, the Suit is entitled for Decree. Hence, the Points
are so answered and the Suit is partly allowed, as follows :
ORDER
1. Commercial Suit No. 100231 / 2019, UCO Bank Vs.
M/s. Manju Bangles and Immitation, is partly decreed,
with proportionate cost.
2. Defendants, within three months from date of this
Order, shall jointly and severally pay, .8,50,000
₹ /- ( .	₹
Eight Lakhs Fifty Thousand Only) to the plaintiff, with
interest @ 8.60 % per annum from the date of filing of
the Suit, till its realization.
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CS No.100231 / 2019,
UCO Bank – Manju Judgment (Exh.20), 5 of 5
3. Court fee, if any, be refunded to the plaintiff as per rule.
4. Decree be drawn up accordingly.
5. Judgment dictated and pronounced in Open Court.
6. Parties be informed about their right to challenge this
Judgment and period of limitation.
7. After compliance and period of Appeal, Shirestedar and
AS to consign Record of the Suit, to Record Room.
Mumbai
Dated : 02.02.2024 (Vijay S. Hingne)
Additional District Judge,
Court Room No.31 - Commercial Court,
City Civil & Sessions Court,
Mazgaon, Greater Mumbai
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