Order 1

Order Details: Ex-parte Judgement
Pdf Text: Comm.Suit No. 212/21. 1 Ex-parte Judgement (Exh.19).
MHCC010070792018
Presented on : 13-06-2018
Registered on : 28-06-2018
Decided on : 02-05-2022
Duration : 3 years, 10 months, 19 days
IN THE BOMBAY CITY CIVIL COURT AT BOMBAY.
COMMERCIAL SUIT NO. 212 OF 2021
(OLD S. C. SUIT NO. 1584 OF 2018)
Exh.19.
[Syndicate Bank, a body corporate )
constituted under the Banking )
Companies (Acquisition and Transfer of )
Undertaking), Act 1970, having their )
Head Office at Manipal in the State of ) (Deleted)
Karnataka and Regional Office at Maker )
Tower 'E', Plot No. 85, Cuffe Parade, )
Colaba, Mumbai400 005 and having one )
of its branch office at 10, Homji Street, )
1st Floor, Mumbai400023 )]
Canara Bank a body Corporate )
Constituted under the banking )
Companies (Acquisition and transfer )
Of undertakings) Act, 1970 and having )
its head Office at 112 J.C. Road )
Bangaluru560002) and having branch )
office at 10, Homji Street, )
Domestic Branch, 1st floor, )
Fort Mumbai – 400 023 )...Plaintiff
Versus
Shoukat Turab Ali Sayad S/o Yusuf Ali )
Sayad, aged about 44 years, Indian )
Inhabitant, Prop. of M/s. Al Madina )
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Comm.Suit No. 212/21. 2 Ex-parte Judgement (Exh.19).
Tours & Travels, having address at )
Shastri Nagar, Near Noorani Masjid, )
Mahul Road, Mumbai – 400 074 )...Defendant
SUIT FOR RECOVERY OF MONEY
CORAM : HIS HONOUR JUDGE SHRI R.R.BHAGWAT.
(COURT ROOM NO.31).
DATE : 2nd MAY, 2022.
Shri Vinit Dubey, Advocate for the plaintiff.
Defendant – (Exparte).
JUDGMENT (EXPARTE)
1. This is a 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 10, Homji Street, 1st Floor, Mumbai.
Constituted Attorney Mrs. Shilpa Jain (Syndicate Bank) filed the suit for
the plaintiff bank. Basically, the suit is filed by Constituted Attorney of
Syndicate Bank. Subsequently, Syndicate Bank is amalgamated with
Canara Bank and therefore, amendment is carried out in the plaint as
per order in Chamber Summons No. 1123/2021 passed on 06/10/2021.
On an application dated 31/08/2015 of the defendant, the plaintiff had
sanctioned loan of Rs.7,74,000/ to the defendant for purchasing Maruti
Ertiga UDI a 4 wheeler. Accordingly, sanction letter was issued on
02/09/2015. The defendant also executed other documents including
Hypothecation Agreement of the vehicle. Though the loan amount was
to be repaid with monthly installments of Rs.13,400/ within period
commencing from 31/10/2015 to 30/09/2022 with interest at the rate
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Comm.Suit No. 212/21. 3 Ex-parte Judgement (Exh.19).
of 11.25 % p.a. (Base Rate + 1.25%), the defendant committed breach
in repayment of the loan amount. Account of the defendant turned
NPA on 31/10/2016. The said vehicle was sold in auction and sale
proceeds were adjusted towards recovery of loan amount. Even then,
amount of Rs.5,56,332.76 was outstanding. Therefore, Demand
Letters/Recall Notice were issued on 22/04/2017 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.5,56,332.76 with further interest thereon at the rate of
12.75% p.a. with monthly rests from the date of filing of the suit till the
date of realization with costs of the suit.
3. The defendant is duly served with writ of summons as per
affidavit of service (Exh.7) and bailiff report on writ of summons dated
26/03/2021, but he failed to appear and oppose the claim of the
plaintiff. Therefore, I passed the exparte order against him on
16/03/2022.
4. PW 1 Vinay Kumar Vaidhya, 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 17. The
plaintiff closed evidence vide pursis (Exh.18). Heard learned counsel
Shri Vinit Dubey 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
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Comm.Suit No. 212/21. 4 Ex-parte Judgement (Exh.19).
entitled to recover amount of
Rs.5,56,332.76 from the defendant ? If
yes, at what rate of interest ? In the Affirmative.
@ 11.25% p.a. with
monthly rest.
2. What order as to costs ? As per final order.
3. What order and decree ? Suit is partly
decreed.
REASONS
AS TO POINTS NO.1 AND 2 :
6. PW 1 Vinay Kumar Vaidhya 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.13. The defendant failed to make payment. The defendant
neglected to make payment of outstanding loan amount as stated in
statement of account (Exh.17). 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 12.75% p.a., but agreed rate of interest as
mentioned in sanction letter (Exh.12) is 11.25% p.a. Therefore, interest
at the rate of 11.25% p.a. can be granted. Costs of the suit is liable to
be imposed on the defendant. In the light of above discussion, I record
my finding as to point no.1 in the affirmative. Hence, I pass the
following order :
ORDER
1. Commercial Suit No. 212/2021 is partly decreed.
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Comm.Suit No. 212/21. 5 Ex-parte Judgement (Exh.19).
2. The defendant is directed to pay amount of Rs.5,56,332.76
(Rupees Five Lakhs Fiftysix Thousand Three Hundred
Thirtytwo and Paise Seventysix Only) to the plaintiff with
further interest @ 11.25% p.a. with monthly rests 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 : 02/05/2022. Mumbai.
1. Dictated online on : 02/05/2022.
2. Signed on : 02/05/2022.
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
04/05/2022. 3.15 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 02/05/2022.
Judgment/Order signed by P.O. on 02/05/2022.
Judgment/Order uploaded on 04/05/2022.
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