Final Order 1

Order Details: Ex-parte Judgement
Pdf Text: Comm.Suit No. 278/21. 1 Ex-parte Judgment (Exh.25).
MHCC010069192018
Presented on : 08-06-2018
Registered on : 01-09-2018
Decided on : 04-03-2022
Duration : 3 years, 8 months, 26 days
IN THE BOMBAY CITY CIVIL COURT AT BOMBAY.
COMMERCIAL SUIT NO. 278 OF 2021
(OLD S. C. SUIT NO. 2304 OF 2018)
Exh.25.
Canara Bank )
A Banking Company incorporated under the )
Banking Companies (Acquisition and Transfer )
of undertaking) Act, 1970 having their Head )
Office at Bangalore – 569 992 and Branch )
Office at All Saints Home, 54/A Dockyard Road, )
Mumbai 400 010 through its Officer, )
Mr. Nishant Sinha )...Plaintiff
Versus
M/s. Janai Special 1 Tours and Travels )
Through Prop Mr. Shrikant Krishna Shedge )
Having Address at Union Co. Op. Housing Soc., )
Building no. 23, Room No. A/2, Tilak Nagar, )
Chembur West, Mumbai400087 )
AND ALSO AT )
M/s. Janai Special 1 through )
Prop. Mr. Shrikant Shedge )
R/a. Saibaba Nagar, Jhopadpatti, Patnagar, )
½ Nar Ghatkopar East, Mumbai 400 075 )...Defendant
SUIT FOR RECOVERY OF MONEY
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Comm.Suit No. 278/21. 2 Ex-parte Judgment (Exh.25).
CORAM : HIS HONOUR JUDGE SHRI R.R.BHAGWAT.
(COURT ROOM NO.31).
DATE : 4th MARCH, 2022.
Ms. Fatima Lakdawala @ Kurutulain Shaikh, Advocate for the plaintiff.
Defendant – (Exparte).
JUDGMENT (EXPARTE)
1. This is suit for recovery of money.
2. Case of the plaintiff, in brief, is as under :
The plaintiff is a body corporate constituted under
the Banking Companies (Acquisition & Transfer of Undertakings) Act,
1970, having its branch office at All Saints Home, 54/A Dockyard Road.
Constituted Attorney Nishant Sinha filed the suit for the plaintiff bank.
Defendant is a proprietary concern represented by proprietor Shrikant
Shedge. On an application dated 28/08/2015 of the defendant, the
plaintiff had sanctioned term loan of Rs.9,60,000/ under Canara MSE
Scheme to the defendant for purchasing Nissan Sunny XLD 5 seater car.
Accordingly, sanction letter was issued. The defendant also executed
other documents including Deed of Hypothecation of the vehicle.
Though the loan amount was to be repaid with monthly installments of
Rs.20,670/ within period of 60 months with interest at the rate of
10.20% p.a., the defendant committed breach in repayment of the loan
amount. Account of the defendant turned NPA on 11/06/2016. Then,
legal notice was issued on 23/03/2018 calling upon the defendant to
pay outstanding amount, but the defendant failed to make payment.
Hence, the plaintiff filed the suit for recovery of outstanding amount of
Rs.8,25,317/ as on 07/06/2018 with further interest at the rate of
12.05% p.a. plus 2% penal interest compounded on monthly rests from
the date of filing of the suit till the date of realization with costs of the
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Comm.Suit No. 278/21. 3 Ex-parte Judgment (Exh.25).
suit. He also made many other prayers like seizure of the vehicle by
appointing Receiver, permanent injunction and disclosure of properties
owned by the defendant.
3. The defendant is duly served with writ of summons as per
affidavit of service (Exh.6), but he failed to appear and oppose the
claim of the plaintiff. Therefore, my learned predecessor passed the ex
parte order against him on 22/01/2021.
4. PW 1 Pramod Kumar Singh, Officer of the plaintiff bank
deposed on evidence affidavit (Exh.8) and proved documents filed with
list of documents (Exh.9). Proved documents are at Exh.10 to 23. The
plaintiff closed evidence vide pursis (Exh.24). Heard learned counsel
Miss Fatima Lakdawala for the plaintiff.
5. After considering pleadings of the plaintiff and evidence on
record, following points arose for my determination with my findings
against them with reasons to follow :
SR.NO. POINTS FINDINGS
1. Does the plaintiff prove that he is
entitled to recover amount of
Rs.8,25,317/ from the defendant ? If
yes, at what rate of interest ? In the Affirmative.
@ 10.20% p.a. with
monthly rest.
2. Does the plaintiff prove that he is
entitled to the relief of disclosure of
properties owned by the defendant,
attachment of the vehicle by appointing
Receiver and permanent injunction ? In the Negative.
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Comm.Suit No. 278/21. 4 Ex-parte Judgment (Exh.25).
3. What order as to costs ? As per final order.
4. What order and decree ? Suit is partly
decreed.
REASONS
AS TO POINT NOS.1 TO 3 :
6. PW 1 Pramod Kumar Singh has specifically stated that the
loan amount enumerated in the plaint was sanctioned for purchasing
the vehicle to the defendant. The said vehicle is also hypothecated as
per Exh.14. The defendant failed to make payment. The defendant
neglected to make payment of outstanding loan amount as stated in
statement of account (Exh.20). In short, claim of the plaintiff is proved
from oral as well as documentary evidence on record.
7. So far as interest rate is concerned, the plaintiff has claimed
interest at the rate of 12.05% p.a., but interest rate mentioned in
sanction letter (Exh.13) is 10.20% p.a. Hence, agreed interest rate of
10.20% p.a. will prevail. It does not appear to be appropriate to grant
2% penal interest because the defendant had obtained loan for
purchasing the vehicle in order to earn his livelihood. So far as other
reliefs claimed by the plaintiff are concerned, they are mostly related to
execution of decree. The plaintiff can resort all available remedies
under Order XXI of the CPC in the course of execution. Costs of the suit
is liable to be imposed on the defendants. In the light of above
discussion, I record my finding as to point no.1 in the affirmative and as
to point no.2 in the negative. Hence, I pass the following order :
ORDER
1. Commercial Suit No. 278/2021 is partly decreed.
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Comm.Suit No. 278/21. 5 Ex-parte Judgment (Exh.25).
2. The defendant is directed to pay amount of Rs.8,25,317/
(Rupees Eight Lakhs Twentyfive Thousand Three Hundred
Seventeen Only) to the plaintiff with interest @ 10.20%
p.a. with monthly rest from the date of the suit till the date
of realization within three months from the date of decree.
3. The defendant shall bear the costs of the suit.
4. Decree be drawn up accordingly.
(R.R.BHAGWAT)
Judge,
City Civil Court,
(Court Room No.31)
Date : 04/03/2022. Mumbai.
1. Dictated online on : 04/03/2022.
2. Signed on : 04/03/2022.
3. Delivered to Certified :
Copy Section on
“CERTIFIED TO BE TRUE AND CORRECT COPY OF THE ORIGINAL
SIGNED JUDGMENT/ORDER”
UPLOAD DATE AND TIME NAME OF STENOGRAPHER
05/03/2022. 1.10 p.m. Miss M.A.Kulkarni.
Name of the Judge (with Court Room no.) HHJ Shri R.R.Bhagwat.
(Court Room No.31).
Date of Pronouncement of Judgment/Order 04/03/2022.
Judgment/Order signed by P.O. on 04/03/2022.
Judgment/Order uploaded on 05/03/2022.
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