Final Order 1

Order Details: Other
Pdf Text: MHCC010068962018 Presented on 08/06/2018
Registered on 28/09/2018
Decided on 13/11/2024
Duration 06Y : 05M: 05D
IN THE CITY CIVIL COURT AT MAZGAON, MUMBAI
SUMMONS FOR JUDGMENT NO. 381 OF 2018
IN
SUMMARY SUIT NO. 168 of 2021
Mr. Uday Raghu Shetty ]
Aged 39 years. Occ.Business ]
Having address at 301, Building A-4, ]
RNA Park, Nagababa Road, H P Nagar (E), ]
Staff Quarters, Vashi Naka Chembur, ]
Mumbai - 400074. ]...Plaintiff
VERSUS
Mr. Sunil Annare Alure ]
401-A-28, Sardar Vallabhabai Patel ]
CHS Ltd, New R. N. A. Colony, ]
Vashinaka, R. C. Marg, Chembur, ]
Mumbai - 40074. ]...Defendant
Appearance:-
Ld. Advocate Ramesh Kamble for the plaintiff.
Defendant absent.
CORAM : HHJ SHRI SANGRAM SHRIHARI SHINDE
C. R. NO. : 81
DATE : 13/11/2024.
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ORDER
( Dictated and pronounced in open Court)
01] Plaintiff has filed summons for judgment No. 381/2018
against defendant. Summons for judgment is served on defendant on
21/01/2019. However, defendant failed to file his reply to the summons
for judgment therefore, order was passed to proceed summons for
judgment without reply of defendant vide order dated 02/03/2019.
02] As per the plaintiff, he is doing business of money lending
and he has valid Money Lending License. Defendant is residing on the
address mentioned in the title cause and plaintiff and defendant knows
each other. In the year 2015, defendant approached plaintiff and
requested for loan of Rs. 27,00,000/- for his business purpose. Plaintiff
advanced an amount of Rs. 27,00,000/- to the defendant against which
defendant has executed demand promissory note on 09/06/2015.
Defendant agreed to repay the said amount with interest however, he
failed and neglected to repay the amount to the plaintiff. Therefore,
plaintiff issued notice dated 19/04/2018 to the defendant and called
upon to repay the principal amount along with interest. The said notice
is returned with remark intimation given on 21/04/2018 and returned
with remark, "unclaimed". The defendant failed to make the payment
as per the demand promissory note. Therefore, plaintiff has filed this
suit.
03] The defendant though appeared failed to file reply to
summons for judgment. Hence, summons for judgment is proceeded
without his reply.
04] The plaintiff has filed and relied upon the following
documents vide list Exh. 5.
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Sr.
No. Exhibit No. Particulars
1 Exh. 5/1 Original Demand Promissory Note dated
09/06/2015.
2 Exh. 5/2
colly.
Office Copy of demand notice dated 07/04/2018
along with returned envelope and postal track
report.
3 Exh.5/3 Original Money Lending License.
05] To decide the present suit, following points arise for my
determination to which my findings are recorded against each of them
for the reasons given below:-
Sr.
No.
Points Findings
1. Whether the plaintiff is entitled to
recover amount of Rs. 27,00,000/-
from defendant ? If yes, at what
rate of interest ?
Yes
The defendant shall pay an
amount of Rs. 27,00,000/-
to the plaintiff with simple
interest at the rate of 7% p.a
from 08/06/2018, i.e. the
date of filing of the suit till its
full realization.
2. What order and decree? As per final order.
R E A S O N S
AS TO POINTS NO. 1 & 2:
06] Perused summons for judgment and record. As per the
plaintiff, he is money lender and carrying on business as money lenders.
Plaintiff has filed original Money Lending License for the period
01/04/2014 to 31/03/2015 and 01/04/2015 to 31/03/2016 vide List
Exh. 5/3 to substantiate his contention. On perusing said License, it
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appears that during the said period plaintiff was having valid Money
Lending License.
07] Further, plaintiff to prove that he had lent an amount of
Rs. 27,00,000/- to the defendant on 09/06/2015 has filed Demand
Promissory Note dated 09/06/2015, executed by defendant vide List
Exh. 5/1. On perusing said Demand Promissory Note, it appears that
defendant had borrowed an amount of Rs. 27,00,000/- and agreed to
return it with interest at the rate of 18% p.a. to the plaintiff on demand.
Further, it appears that it bears signature of defendant. Thus, it appears
that defendant has borrowed loan of Rs. 27,00,000/- and agreed to
repay with interest @ 18% p.a. as contended by the plaintiff. Defendant
has failed to file reply and contest the summons for judgment.
Therefore, documents of plaintiff has remained unchallenged.
08] Plaintiff has contended that defendant dishonoured
demand promissory note. Therefore, he issued demand notice dated
19/04/2018 at Exh. 5/2 colly. to defendant and called upon him to pay
principal amount with interest at the rate of 18% p.a. Plaintiff has filed
sealed returned envelope on record. It appears that the said envelope is
returned with remark, "unclaimed". Thus, it appears that defendant has
avoided service of notice. Therefore, Demand Promissory Note at
Exh. 5/1 is dishonoured. Further, plaintiff has contended that defendant
failed to repay principal amount as well as interest thereon. Thus, I am
of the view that plaintiff has proved that he had advanced an amount of
Rs. 27,00,000/- to the defendant and he had executed promissory note
at Exh. 5/1 to repay said loan with interest at the rate of 18% p.a. The
plaintiff has pleaded that he had paid said amount in cash however, o
documentary evidence is produced. However, defendant has not
challenged the same. Thus, the plaintiff has proved that he had
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advanced an amount of Rs. 27,00,000/- to the defendant and defendant
had agreed to repay the said amount with interest @ 18% p.a. Further,
plaintiff has also filed original Money Lending License vide list Exh. 5/3
colly. Further, it appears that defendant has not repaid the said amount.
Even, as discussed above, defendant has not challenged documentary
evidence of plaintiff. Therefore, plaintiff is entitled for judgment and
decree, as per Order 37, Rule 6(b) of C.P.C.
09] Further, it is the contention of plaintiff that defendant has
executed Demand Promissory Note. The plaintiff has claimed interest at
the rate of 18% p.a. However, on perusing notice filed on record vide
Exh. 5/2 colly plaintiff has not claimed any interest on the principal
amount. I am of the view that the same is excessive as compared to rate
of interest of Nationalized Banks. Therefore, having regard to the
provision of section 34 of the Civil Procedure Code, I am of the view
that granting the interest at the rate of 7% p.a. on the principal amount
would be just, proper and reasonable. Hence, I hold that the plaintiff is
entitled to interest at the rate of 7% p.a. from 08/06/2018 and further
interest at the rate of 7% p.a. on the principal amount, from the date of
filing the suit till its full realization. Hence, I answer point No. 1 partly
in affirmative. In the result, in answer to point No. 2, I proceed to pass
following order.
O R D E R
1] Summons for judgment No. 381 of 2018 is hereby allowed.
2) Summary Suit No.168 of 2021 is hereby decreed with the
costs.
3) The defendant shall pay an amount of Rs. 27,00,000/- (Rupees
Twenty Seven Lakhs only) to the plaintiff with simple interest at
the rate of 7% per annum from 08/06/2018, i.e. the date of filing
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of the suit till its full realization.
3) The plaintiff may be entitled to get refund the court fees paid, if
provided for in Rules.
4) The decree be drawn up accordingly.
(Sangram S. Shinde)
Adhoc Judge,
City Civil Court Mazgaon,
Mumbai. Date: 13/11/2024 C.R.No. 81
Dictated on : 12/11/2024
Corrected & signed on : 18/11/2024
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“CERTIFIED TO BE TRUE AND CORRECT COPY OF THE ORIGINAL
SIGNED JUDGMENT/ORDER”
UPLOAD DATE NAME OF STENOGRAPHER
18/11/2024 Mrs. V. V. Malgaonkar
Name of the Judge
(with Court Room No.)
Shri S. S. Shinde
C.R. No.81
Date of Pronouncement of JUDGMENT/
ORDER 13/11/2024
JUDGMENT/ORDER signed by P. O. on 18/11/2024
JUDGMENT/ORDER uploaded on 18/11/2024
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