Final Order 1

Order Details: Ex-parte Judgement
Pdf Text: 1 Comm. Suit No.1037/2021
MHCC010075722018 Presented on : 25/06/2018.
Registered on : 02/01/2020.
Decided on : 30/09/2022
Duration : 2Y 8M 28D
IN THE CITY CIVIL COURT AT MUMBAI.
COMMERCIAL SUIT No.1037 of 2021
(Old Short Cause Suit No.21 of 2020)
Canara Bank, a body corporate constituted
under The Banking Companies (Acquisition
and Transfer of Undertakings) Act, 1970,
having its Head Office at 112 J.C. Road,
Bangalore560 002, and one of its branch
office amongst others known as Mazagaon
Branch having address at All Saints Home
Building, 54A, Dockyard Road, Ekta Nagar,
Mazagaon Mumbai 400 010, in the State of
Maharashtra, represented by Mr. Nishant
Sinha, Age 25 years, Officer.
...PLAINTIFF
VERSUS
1 M/s. Anand Tours and Travels
(Proprietor Mr. Prataprao Anandrao Patil),
A1/19, Room No.02, Opp. Mafco Market,
Sector 21, Turbhe, Navi Mumbai 400705.
2 Mr. Prataprao Anandrao Patil,
Age Not known, Adult, (Proprietor of M/s
Anand Tours and Travels), A1/19, Room
No.02, Opp. Mafco Market, Sector 21,
Turbhe, Navi Mumbai 400705. …DEFENDANTS
Shri Rishabh Mishra h/f Shri Rajmukar Shukla, learned
Advocates for plaintiff.
Defendants exparte.
CORAM : JUDGE SHRI. N.P. TRIBHUWAN (C.R.NO.32)
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2 Comm. Suit No.1037/2021
E XP A R T E J U D G M E N T
(Delivered on 30/09/2022)
This is a suit for recovery of sum of Rs.7,82,785/ with
interest @ 9.70% p.a. + penal interest @ 2% p.a. with monthly rests
from the date of suit till realization of amount.
2. It is case of plaintiff that it is a body corporate constituted
under the Banking Companies (Acquisition and Transfer of
Undertakings) Act, 1970. Defendant No.1 is proprietary concern.
Defendant No.2 is its proprietor. On 31/10/2015 defendants
approached to plaintiff bank for term loan of Rs.7,50,000/. On
31/10/2015, the plaintiff after complying all terms and conditions of
the loan, sanctioned term loan of Rs.7,50,000/ to defendants for the
purpose of purchasing vehicle Toyota Etios GD5. Plaintiff has
sanctioned the said loan on condition that defendants shall repay the
said loan in 60 equal installment. Defendants had executed
hypothecation agreement and other documents on 31/10/2015 in favor
of the plaintiff bank. Defendants have not paid loan installments. Hence
on 12/06/2018 plaintiff has sent demand notice through advocate to
defendants to make the payment of outstanding dues.
3. Defendants paid dues upto 31/10/2015 and therefore suit
is within limitation. As on 31/05/2018 the amount of Rs.7,82,785/ is
due and payable by defendants against the said loan account. Plaintiff is
entitled of recover of aforesaid amount with contractual rate of interest
9.70 p.a. + penal interest 2 % p.a. Therefore, plaintiff has filed this suit.
4. Defendants served with suit summons but they did not
appear. Hence, suit proceeded exparte against them as per order
dtd.18/02/2022.
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3 Comm. Suit No.1037/2021
5. On above facts following points arise for determination and
this court and recorded findings thereon for the reasons stated as under.
POINTS FINDINGS
1. Whether the plaintiff proved that it has
advanced Term / vehicle loan of
Rs.7,50,000/ to defendants ?
…Yes
2. Whether the plaintiff proved that it is
entitled for recovery of sum of
Rs.7,82,785/ together with interest @
9.70% p.a. + penal interest 2 % p.a. from
the date of suit till realization of suit ?
…Yes
3. What order and decree? ...As per final
order.
REASONS
AS TO POINT Nos.1 AND 2:
6. Heard learned counsel of Plaintiff. Plaintiff has examined
its Officer (PW1 Vidhayadhar S. Khandait) to prove its case. He
reproduced all content of plaint in his chiefexamination. His evidence
is supported by documentary evidence : Loan application
dtd.30/10/2015, Sanction letter dtd.31/10/2015, Hypothecation
agreement dtd.31/10/2015, undertaking dt. 31/10/2015, Leagal notice
with postal receipt, and particulars of vehicle. (Exh.16 to 23
respectively).
7. In view of evidence of PW1 Officer of plaintiffBank and
documentary evidence, it becomes clear that on the request of
defendants on 31/10/2015 plaintiff has sanctioned them term / vehicle
loan of Rs.7,50,000/ for purchasing vehicle for commercial purpose. At
the time of sanctioning the said loan defendants have executed
Hypothecation agreement and above documents in favour of plaintiff.
Defendants agreed to repay loan in 60 equal monthly installments with
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4 Comm. Suit No.1037/2021
interest. Statement of account shows that amount of Rs.6,56,051/
towards principal outstanding. As per the statement of account overdue
as on Rs. 7,82,785/. As far as rate of interest is concerned, evidence of
PW1 and the documents indicate that defendants are liable to pay the
outstanding loan amount with the interest @ 9.70 p.a. + penal interest
2% p.a. from the date of suit till realization of the amount.
8. Evidence of PW1 remained unchallenged. His evidence is
supported by documentary evidence mentioned in para supra. There is
no reason to disbelieve his testimony. Hence, plaintiff succeed to prove
that it has advanced above mentioned vehicle loan to defendants with
conditions. The amount of Rs.7,82,785/ is due and payable by
defendants to plaintiff with interest @ 9.70% p.a.+ penal interest 2%
p.a. Therefore, plaintiff is entitled for the recovery of the same. Hence,
I answered point Nos.1 and 2 as above. Hence, I pass the following
order.
ORDER
1. Suit is decreed with costs.
2. The defendant Nos.1 and 2 are jointly and severally
directed to pay to plaintiff the amount of Rs.7,82,785/.
3. The defendant Nos.1 and 2 are jointly and severally
directed to pay to plaintiff the interest @ 9.70 p.a. +
penal interest @ 2% p.a. on principal sum of
Rs.6,56,051/ from the date of suit till realization of the
said amount.
4. Decree be drawn up accordingly.
Date : 30/09/2022.
(N.P. Tribhuwan)
Judge, City Civil Court,
Mumbai. C.R.No.32
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5 Comm. Suit No.1037/2021
Dictated on : 30/09/2022.
Checked on : 30/09/2022.
Signed on : 30/09/2022.
CERTIFIED TO BE TRUE AND CORRECT COPY OF THE ORIGINAL
SIGNED JUDGMENT/ORDER”
(Mr. P. A. Ghodke)
UPLOAD DATE AND TIME NAME OF CLERKTYPIST
Name of the Judge(with CR
No.)
HHJ SHRI. N. P. TRIBHUVAN
(C.R.No.32)
Date of pronouncement of Order 30/09/2022.
Order signed by P.O. on 30/09/2022.
Order uploaded on 30/09/2022.
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