Final Order 1

Order Details: Copy of Judgment
Pdf Text: Sum.S.No.7372018 1 Exh
Lodged on 09/06/2018
Decided on 04/07/2022
Duration on 04Ys.00Ms.25Ds.
MHCC010072882018
IN THE BOMBAY CITY CIVIL COURT AT BOMBAY
SUMMARY SUIT NO.737 OF 2018
Mr.Nandkumar Ramjanam Patwa
Residing at A/51/53/4/4, Laxmi
Baug, M.G.Road, Opp.Saibaba
Mandir, Dharavi,Mumbai400 017 …Plaintiff
V/s
Ansar Ahmed Mohd.Siddique A
Residing at E/W 119, Kamraj
Chawl, Sant Rohidas Marg,
Mukund Nagar, Opp.Goshiya
Masjid Dharavi, Mumbai 400 017 ...Defendant
Appearance:
Ld.Counsel J.N.Dubey for plaintiff.
DefendatExparte.
CORAM : H.H.J.SHRI.A.V.Kharkar
DATE: 04th July, 2022 C.R.NO.15
JUDGMENT
This is a suit for recovery of friendly loan of
Rs.5,00,000/.
The facts pleaded by the plaintiff are as follows.
2. The plaintiff and defendant were known to each other. By
Memorandum of understanding dtd.15/10/2015 the plaintiff
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had advanced friendly loan of Rs.5,00,000/ to the defendant.
That term of one year. The plaintiff agreed to repay loan within
one year. The defendant was ready to pay Rs.18,000/ to the
plaintiff as a profit compensation. The defendant did not refund
the amount of loan or pay profit compensation and hence this
suit is filed for recovery of the amount of loan with profit
compensation. Plaintiff is seeking to recover amount of
Rs.8,00,000/ with further profit compensation of Rs.18,000/.
3. Defendant appeared in the matter, Summons for
Judgment was served to the defendant. However, defendant did
not file reply to the Summons for Judgment. Hence, Summons
for Judgment is made absolute. On perusal of the suit and the
Memorandum of understanding Exh8 it is clear that defendant
had obtained loan of Rs.5,00,000/ on 15/10/2015 and
promised to repay loan within one year. He had also agreed to
pay Rs.18,000/ per month as profit compensation. Demand
notice Exh10. On the basis of unchallenged averments
supported by documents the plaintiff has proved that the
defendant had obtained friendly loan of Rs.5,00,000/ which he
was promised to pay within one year alongwith business
compensation amount of Rs.18,000/ per month. The plaintiff
would be entitled to recover of amount with interest. The
contractual rate of interest is on the higher side. Considering the
lending rates of Nationalized Banks and that transaction is of
friendly loan it would be appropriate that the plaintiff is allowed
interest at the rate of 6% p.a. on the principal sum. Hence,
following order is passed.
ORDER
1. Suit is decreed with costs.
2. The defendant is hereby ordered and directed to pay an
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amount of Rs.8,00,000/ to the plaintiff within a period of
three months together with interest at the rate of 6% p.a.
an amount of Rs.5,00,000/ from the date of suit till
realization.
3. Summons for Judgment No.54 of 2019 stands disposed of
accordingly.
4. Decree be drawn up accordingly.
5. Court fee be refunded as per Bombay City Civil Court
Rule.
Date : 04/07/2022 (A.V.Kharkar)
Judge
City Civil & Sessions Court
Gr.Bombay
Dictated on : 04/07/2022
Transcribed on : 06/07/2022
HHJ Signed on :
“CERTIFIED TO BE TRUE AND CORRECT COPY OF THE ORIGINAL SIGNED
JUDGMENT/ORDER.”
06/07/2022 3.00pm (Mrs.P. P. Khanvilkar)
UPLOAD DATE AND TIME NAME OF STENOGRAPHER
Name of the Judge (With Court
room no.)
SHRI A.V.Kharkar
(C.R. No.15)
Date of Pronouncement of
JUDGMENT/ ORDER
04/07/2022
JUDGMENT/ORDER signed by P.O.
on
06/07/2022
JUDGMENT/ORDER uploaded on 06/07/2022
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