Order 1

Order Details: Copy of Judgment
Pdf Text: Judgment in Suit No. 319 of 2021 1
MHCC010073892018
Presented on : 20-06-2018
Registered on : 10-08-2018
Decided on : 24-01-2024
Duration : 5 Yr, 7 M, 4 D.
Exh.
IN THE CITY CIVIL COURT FOR GR. BOMBAY AT MUMBAI
SHORT CAUSE SUIT NO.319 OF 2021.
CANARA BANK, a body corporate ]
Constituted under the Banking Companies ]
(Acquisition & Transfer of Undertaking) Act, ]
1970 having its Head Office at 112,J.C. Road, ]
Bangolore -560 002, and one of its Branch Office ]
amongst others known as Mazagaon Branch, ]
having address at All Saints Home Building, 54-A ]
Dockyard Road, Ekta Nagar, Mazagoan, ]
Mumbai – 400 010, in the State of Maharashtra, ]
represented by Mr. Nishant Sinha ]
Age: 25 years, Officer. ] .... Plaintiff.
V/s
1.M/s. Jyotiba Tours and Travels ]
(Proprietor of Mr. Uttam Chavan) ]
406/2, Parel Shivsandesh CHS., ]
D.S.Road, Worli, Mumbai – 400 018. ]
2.Mr. Uttam Pandurang Chavan. ]
(Proprietor of M/s. Jyotiba Tours and Travels) ]
406/2, Parel Shivsandesh CHS ]
D.S. Road, Worli, Mumbai – 400018. ]….Defendants.
Appearance:
Adv. Manisha Vishwakarma for the plaintiff.
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Judgment in Suit No. 319 of 2021 2
Defendant -Exparte.
SUIT FOR RECOVERY OF MONEY
Coram : Shri. U. C. Deshmukh
CR No. : 59.
Date :24th January, 2024.
ORAL JUDGMENT
This is suit for recovery of an amount of Rs.
7,91,061.12/- with interest at the rate of 11.07% p.a.
Brief facts of the plaintiff’s case are as under :
2. The plaintiff contends that it is company constituted under
Banking Companies Act. Defendant No. 1 is also proprietorship firm of
which defendant No. 2 is proprietor.
3. The plaintiff further contends that defendants approached
it to sanction term loan of Rs.9,50,000/- by making application under
loan to Micro and Small Enterprises on 30.06.2015. After fulfillment of
all necessary requirements to sanction the loan, the plaintiff sanctioned
loan and disbursed the same to the defendant. Thereafter, defendants
failed to repay the same. Hence, it issued notice to the defendant on
12.06.2018, but in vain. Hence, this suit.
4. Defendants failed to appear, hence, suit proceeded exparte
on 08.06.2022. The plaintiff examined one Anant Shivaji Iyer (PW 1) at
Exh. 6 and also filed list of documents at Exh. 7 which are as follows :
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Judgment in Suit No. 319 of 2021 3
Sr. No. Documents
1. Copy of Power of Attorney/Authority
Letter.
2. Original Loan Application dated
30.06.2015.
3. Original Sanction Memorandum dated
02.07.2015.
4. Original Letter of Undertaking dated
01.07.2015.
5. Original Particulars of
Vehicles/Machinery/Equipment/Livestock
etc.
6. Original Deed of Hypothecation.
7. Original Legal Notice, Postal Receipt dated
12.06.2018.
8. Statement of Account.
9. Particulars of Plaintiff’s claim against
defendants.
5. The plaintiff close its evidence vide pursis at Exch 8.
6. Considering the facts, evidence and law applicable to the
case, following points arise for determination of the case:
Sr. No. POINTS FINDINGS
1. Does the plaintiff prove that it is
entitled to recover an amount of
Rs.7,91,061.12/- at the rate of
11.07% p.a. from the defen-
dants from the date of the suit?
..Yes Partly..
with interest @
9.07% p.a
2. Whether the suit is within the ..Yes..
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Judgment in Suit No. 319 of 2021 4
limitation?
3. What order and decree? Suit is partly
decreed.
:REASON:
As to Point No. 1 & 2
7. It is needless to say that as suit proceeded exparte,
hence, the pleading and evidence of the plaintiff has remained
unchallenged.
8. The copy of the Loan application dated 30.06.2015 show
that defendants had applied for the loan to the plaintiff-Bank.
Accordingly, vide sanction memo 2nd July 2015, the plaintiff sanctioned
loan of Rs.9,50,000/-. It also show that loan was sanctioned with
interest at the rate of 10.55 % and interest at the rate of 10% p.a. was
charged at the inception .Defendants have also executed undertaking on
1st July 2015. The copy of the particulars of vehicle shows that the
plaintiff advanced loan to purchase vehicle in the name of defendants.
The vehicle is also hypotheticated in favour of the plaintiff. In spite of
notice dated 12.06.2018, defendants failed to repay the suit amount. All
these documents support the case of the plaintiff-Bank. Moreover, the
statement of account indicates that on 25.08.2018 defendants were
bound to pay amount of Rs.7,91,061.12/-. Thus, the plaintiff is
succeeded to show that defendants are bound to pay such amount.
9. The plaintiff-Bank claims an interest at the rate of 11.7 % p.a.
However, the statement of loan account manifest that the plaintiff-Bank
itself has levied interest at the rate of 9.7 % p.a. Hence, it would be just
and proper to award such interest. Considering the date of the sanction
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Judgment in Suit No. 319 of 2021 5
of loan and the date of institution, the suit is within the limitation.
Accordingly point No. 1 & 2 are answered.
10. Non payment of the suit amount led the plaintiff to
institute the suit, hence, the plaintiff would entitle to the cost of the
suit. Accordingly, in answer to point No. 3 following order passed :
ORDER
1. Suit No. 319 of 2021 is decreed with cost as under :
2. The defendant No.1 & 2 are ordered to pay jointly and
severally an amount of Rs.7,91,061/- (Rs. Seven Lakh, Ninety
One Thousand and Sixty one Only) within two months of the
order alongwith interest at the rate of 9.7% p.a. from the date of
the suit till its realization.
3. Decree be drawn up accordingly.
4. Suit No.319 of 2021 is disposed off accordingly.
(Dictated and Pronounced in Open Court).
(U.C.Deshmukh)
Judge,
City Civil and Sessions Court
Date.:24.01.2024 Greater Bombay (CR 59).
Declared on : 24.01.2024
Dictated on : 24.01.2024
Transcribed on : 03.02.2024
Checked on : 03.02.2024.
Signed on :07.02.2024.
CERTIFIED TO BE TRUE AND CORRECT COPY OF THE ORIGINAL
SIGNED JUDGMENT/ORDER”
08.02.2024 at 12.24 -p.m. Mrs. P.R.Wagh
UPLOAD DATE AND TIME NAME OF STENOGRAPHER
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Judgment in Suit No. 319 of 2021 6
Name of the Judge (with Court
Room No.)
HHJ SHRI.U.C.Deshmukh,(C.R.No.59)
Judge.,City Civil & Sessions Court,
Date of pronouncement of /Order 24.01.2024
Order signed by P.O. on 07.02.2024
order uploaded on 08.02.2024
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