Final Order 1

Order Details: Ex-parte Judgement
Pdf Text: 1 Comm. Suit No.142/2021
MHCC010077162018 Presented on : 28/06/2018
Registered on : 16/08/2018
Decided on : 10/03/2023
Duration : 04Y/06M/22D
IN THE CITY CIVIL COURT AT MUMBAI.
COMMERCIAL SUIT No.142/21
Bank of Baroda, a body Corporate,
constituted under the Banking Companies
(Acquisition & Transfer of Undertakings)
Act V1970, having its Head Office at
Mandvi, Baroda, Gujarat State and their
branch office at A, Chetan Building,
Rajawadi Road, Ghatkopar(E) Mumbai
400077. ...PLAINTIFF
VERSUS
Om Tours and Travels
Through Proprietor Lingeshwar Jadhav,
Room No.1, Gupta Compound, Jai Bhim
Nagar, Santosh Nagar, Goregaon(E),
Mumbai400063.
...DEFENDANT
Smt. Pranjali Asubre i/b. Smt. Purnima Pandit, learned Advocates for
plaintiff.
Defendant exparte.
CORAM : JUDGE SHRI. N.P. TRIBHUWAN (C.R.NO.32)
E XP A R T E J U D G M E N T
(Delivered on 10/03/2023)
This is a suit for recovery of sum of Rs.6,39,306/ with
further interest @ 11.50 % p.a. from the date of suit till realization of
the amount.
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2 Comm. Suit No.142/2021
2. It is case of plaintiff that it is a body corporate under the
Banking Companies (Acquisition and Transfer of Undertakings) Act,
1970. Defendant has applied for term loan of Rs.7,50,000/ for
purchasing vehicle for commercial purpose. On 1/12/2016 plaintiff has
sanctioned him vehicle loan of Rs.7,50,000/. On 03.12.2016 defendant
has executed demand promissory note, letter of authority, letter of
installment with acceleration clause, hypothecation agreement, form of
irrevocable payment deduction authorization agreement, declaration
cumundertaking and irrevocable power of attorney in favour of
plaintiff.
3. Defendant failed and neglected to pay the loan installment.
Therefore, plaintiff has issued him notice dtd.21/06/2018 and called
upon to pay the outstanding dues. As per the statement of account a
sum of Rs.6,39,306/ is due and payable by the defendant with interst
@ 11.50% p.a. with monthly rests. Hence, plaintiff filed this suit.
4. Defendant is served with suit summons as per service
affidavit Exh.12 but he did not appear. Hence, suit proceeded exparte
against him as per order dtd.09/01/2023.
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. Does plaintiff prove that it has sanctioned
and disbursed vehicle loan of
Rs.7,50,000/ to plaintiff ?
…Yes
2. Does plaintiff prove that defendant is in
outstanding dues of Rs.6,39,306/ ?
…Yes
3. Whether plaintiff is entitled for the relief
claimed ?
…Yes
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3 Comm. Suit No.142/2021
4. What order and decree? ...As per final
order.
REASONS
AS TO POINT Nos.1 to 3:
6. Heard learned counsel of Plaintiff. Plaintiff has examined
its Manager (PW1 Ms. Supriya M. Dikwalkar) to prove its case. She
reproduced all content of plaint in her chiefexamination. Her evidence
is supported by documentary evidence (Exh.15 to 24) as under : Letter
of sanction to the borrower dt. 01/12/2016, Demand promissory note
dt. 03/12/2016, Letter of authority to make payment directly to the
dealers dt. 03/12/2016, Letter of installment with acceleration clause
dt. 03/12/2016, Instrument of hypothecation of vehicle dt.
03/12/2016, Declaration cum undertaking cum authority dt.
03/12/2016, Irrevocable power of attorney dt. 03/12/2016, Advocate
notice dt.21/06/2018, Statement of account, Copy of power of
attorney.
7. In view of evidence of PW1 Manager of plaintiffBank and
documentary evidence, it becomes clear that on the request of
defendant on 1/12/2016 plaintiff has sanctioned him vehicle loan of
Rs.7,50,000/ for purchasing vehicle for commercial purpose. On
3/12/2016 defendant has executed hypothecation agreement and
above other documents in favour of plaintiff. It seems that defendant
agreed to repay loan with interest @ 11.50 % p.a. Statement of account
supports the testimony of PW1.
8. Evidence of PW1 remained unchallenged. Her evidence is
supported by documentary evidence mentioned in para supra. There is
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4 Comm. Suit No.142/2021
no reason to disbelieve her testimony. Hence, plaintiff succeed to prove
that it has advanced above mentioned loan to defendant with
conditions. The amount of Rs.6,23,394/ as on 20/06/2018 + interest
of Rs.15,912/= Total Rs.6,39,306/ is due and payable by defendant to
plaintiff. Therefore, plaintiff is entitled for the recovery of the same and
agreed interest 11.50% p.a. from the date of suit till realization of
amount. Hence, I answered point Nos.1 to 3 as above. Hence, I pass the
following order.
ORDER
1. Suit is decreed with costs.
2. The defendant is directed to pay to plaintiff the amount
of Rs.6,39,306/ and interest @ 11.50% p.a. on principal
sum of Rs.6,23,394/ from the date of suit till realisation
of the amount.
3. Decree be drawn up accordingly.
Date : 10/03/2023
(N.P. Tribhuwan)
Judge, City Civil Court,
Mumbai. C.R.No.32
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5 Comm. Suit No.142/2021
Dictated on : 10/03/2023
Checked on : 10/03/2023
Signed on : 10/03/2023
CERTIFIED TO BE TRUE AND CORRECT COPY OF THE ORIGINAL
SIGNED JUDGMENT/ORDER”
10/03/2023 Mrs.Rupali S. Bhor
UPLOAD DATE AND TIME NAME OF STENOGRAPHER
Name of the Judge(with CR
No.)
HHJ SHRI. N. P. TRIBHUVAN
(C.R.No.32)
Date of pronouncement of Order 10/03/2023
Order signed by P.O. on 10/03/2023
Order uploaded on 10/03/2023
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