Order 1

Order Details: Ex-parte Judgement
Pdf Text: Comm.Suit No. 773/21. 1 Ex-parte Judgment (Exh.21).
MHCC010075742018
Presented on : 25-06-2018
Registered on : 11-03-2019
Decided on : 20-11-2021
Duration : 3 years, 4 months, 25 days
IN THE BOMBAY CITY CIVIL COURT AT BOMBAY.
COMMERCIAL SUIT NO. 773 OF 2021
Exh.21.
Canara Bank, a body corporate )
Constituted under the Banking Companies )
(Acquisition & Transfer of Undertakings) Act, )
1970 having its Head Office at 112, J. C. Road, )
Bangalore– 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, Mazagaon, )
Mumbai400010, in the State of Maharashtra, )
represented by Mr. Nishant Sinha )
Age: 25 Years, officer )...Plaintiff
Versus
1. M/s. S. G. Enterprises )
(Proprietrix Mrs. Gayatri Sunil Pawar) )
SS IIA, Room No. 66, Sector5, )
Koperkhairne, Navi Mumbai400709 )
2. Mrs. Gayatri Sunil Pawar, Age – Adult )
(Proprietor of M/s S G Enterprises) )
SS IIA, Room No. 66, Sector5, )
Koperkhairne, Navi Mumbai400709 )...Defendants
SUIT FOR RECOVERY OF MONEY
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Comm.Suit No. 773/21. 2 Ex-parte Judgment (Exh.21).
CORAM : HIS HONOUR JUDGE SHRI R.R.BHAGWAT.
(COURT ROOM NO.31).
DATE : 20th NOVEMBER, 2021.
Shri Rishabh Mishra, Advocate for the plaintiff.
Defendants – (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 Mazagaon. Constituted Attorney
Nishant Sinha filed the suit for the plaintiff bank. Defendant no.1 is a
proprietary concern represented by proprietor defendant no.2. On an
application dated 07/09/2015 of the defendants, the plaintiff had
sanctioned term loan of Rs.7,50,000/ under Canara MSE Pragati
Scheme to the defendants for purchasing Toyota Etios GD 5 car on
15/09/2015. Accordingly, sanction letter was issued on 15/09/2015.
The defendants also executed other documents including Deed of
Hypothecation of the vehicle. Though the loan amount was to be
repaid with monthly installments within period of 60 months with
interest at the rate of 9.70% p.a., the defendants committed breach in
repayment of the loan amount. Then, legal notice was issued on
12/06/2018 calling upon the defendants to pay outstanding amount,
but the defendants failed to make payment. Hence, the plaintiff filed
the suit for recovery of outstanding amount of Rs.6,08,515.25 as on
25/05/2018 with further interest at the rate of 9.70% p.a. with monthly
rests plus 2% penal interest from the date of filing of the suit till the
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Comm.Suit No. 773/21. 3 Ex-parte Judgment (Exh.21).
date of realization with costs of the suit.
3. The defendants are duly served with writ of summons as
per affidavit of service (Exh.2), but they failed to appear and oppose the
claim of the plaintiff. Therefore, I passed the exparte order against
them on 26/10/2021.
4. PW 1 Pramod Kumar Singh, Officer of the plaintiff bank
deposed on evidence affidavit (Exh.7) and proved documents filed with
list of documents (Exh.8). Proved documents are at Exh.10 to 19. The
plaintiff closed evidence vide pursis (Exh.20). Heard learned counsel
Shri Rishabh Mishra 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.6,08,515.25 from the defendants ? If
yes, at what rate of interest ? In the Affirmative.
@ 9.70% p.a. with
monthly rest.
2. What order as to costs ? As per final order.
3. What order and decree ? Suit is partly
decreed.
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Comm.Suit No. 773/21. 4 Ex-parte Judgment (Exh.21).
REASONS
AS TO POINT NOS.1 AND 2 :
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 defendants. The said vehicle is also hypothecated as
per Exh.16. As the defendants failed to make payment, legal notice
(Exh.17) was issued to the defendants. Even then, the defendants
neglected to make payment of outstanding loan amount as stated in
statement of account (Exh.18). 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, interest rate at 0.55%
p.a. above basic rate of 9.90% i.e. 10.45% p.a. is stated in Sanction
Letter (Exh.12). Deed of Hypothecation (Exh.14) states about interest
at 0.55% above present rate of interest at 9.65% p.a. In short, the
plaintiff has claimed interest within the range of interest as per terms of
the agreement with the defendants. There is no hurdle in the way of
granting interest as demanded by the plaintiff. It does not appear to be
appropriate to grant 2% penal interest because defendant no.2 had
obtained loan for purchasing the vehicle in order to earn her livelihood.
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. Hence, I pass the following order :
ORDER
1. Commercial Suit No. 773/2021 is partly decreed.
2. The defendants are directed to pay amount of
Rs.6,08,515.25 (Rupees Six Lakhs Eight Thousand Five
Hundred Fifteen and Paise TwentyFive Only) to the
plaintiff with interest @ 9.70% p.a. with monthly rest from
the date of the suit till the date of realization within three
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Comm.Suit No. 773/21. 5 Ex-parte Judgment (Exh.21).
months from the date of decree.
3. The defendants shall bear the costs of the suit.
4. Decree be drawn up accordingly.
(R.R.BHAGWAT)
Judge,
City Civil & Sessions Court,
(Court Room No.31)
Date : 20/11/2021. Mumbai.
1. Dictated online on : 20/11/2021.
2. Signed on : 20/11/2021.
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
20/11/2021. 5.11 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 20/11/2021.
Judgment/Order signed by P.O. on 20/11/2021.
Judgment/Order uploaded on 20/11/2021.
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