Final Order 1

Order Details: Ex-parte Judgement
Pdf Text: SUMMARY SUIT NO.1377/2018 1
Received on : 30062018
Registered on : 28112018
Decided on : 10102019
Duration : 0Y 10M 12D
IN THE BOMBAY CITY CIVIL COURT AT MUMBAI
SUMMARY SUIT NO.1377 of 2018
(CNR NO.: MHCC010078922018)
Corporation Bank
a body corporate constituted under the provision
of the banking Companies (Acquisition & Transfer
of Undertakings) Act, 1980 having their having its
Zonal Office at 28, Mittal Chambers, 2nd Floor,
Nariman Point, Mumbai 400 021 and a Branch
Office amongst others at Corporation Bank, 520,
Mangireesh Building, Ground Floor, L.J Road
Cross, Mahim, Mumbai 400016, represented
through its Manage Mr. Noorul Haque Sheikh ...Plaintiff
Versus
1.Akila Shaikh, Adult, an Indian
Inhabitant, having his residential
address at Behind Shivashakti
building no.509, Transit Camp,
Building No.3,Golibar, Santacruz
East, Mumbai 400 055
2.Rohidas Balaram Borkar, Adult, an
Indian Inhabitant, having his
residential address at Room No.4, F
Sector, V Line, Near Tawalal Store
Cheetacamp, Trombay, Mumbai400088 ….Defendant
Appearances:
Advocate Divya Shirvastav for the Plaintiff.
Defendants Exparte.
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SUMMARY SUIT NO.1377/2018 2
CORAM : HIS HONOUR JUDGE
SHRI.M.S.LONE
(C.R.NO.28)
DATED : 10th OCTOBER 2019
J U D G M E N T
This is a suit for recovery of Rs.5,53,618//(Rupees Five Lacs
Fifty Three Thousand Six Hundred and Eighteen only).
2. Plaintiff case in nut shell is that in the month of November 2015
defendant no.1 approached the plaintiff bank for financial assistant. On
02/11/2015 defendant submitted the loan application and other
documents for the loan of Rs. 5,00,000/. The plaintiff bank disbursed
the loan of Rs. 5,00,000/ on 3/11/2015 as defendants have executed
all relevant documents. The said loan was to be repaid in 60 monthly
installment of Rs. 10,909/ together with 11.25% p.a. floating interest.
However the defendants failed to repay the said loan amount. The
defendants are in default of Rs.5,53,618//(Rupees Five Lacs Fifty
Three Thousand Six Hundred and Eighteen only). Hence, this suit.
3. The defendants were served with summons for appearance but
they remained absent therefore, suit is proceeded exparte against
them.
4. From the material on record following points come for my
determination and my findings with reasons are as follows:
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SUMMARY SUIT NO.1377/2018 3
POINTS FINDINGS
1. Whether plaintiff proves that
they had given loan of
Rs.5,00,000/ to defendant no.1?
Yes
2. Whether plaintiff proves that
amount of Rs.5,53,618//
(Rupees Five Lacs Fifty Three
Thousand Six Hundred and
Eighteen only) is due and
recoverable from defendants?
Yes
3. Whether plaintiff is entitled for
recovery of Rs.5,53,618//
(Rupees Five Lacs Fifty Three
Thousand Six Hundred and
Eighteen only) with interest as
claimed?
Yes
4. What order and decree? As per final order
REASONS
AS TO POINT NOS.1 TO 4.
5. Since all points are interlinked they are discussed together. To
prove its case plaintiff examined Mr. Noorul Haque Shaikh, Chief
Manager vide Exh.6 and filed copy of power attorney, loan application,
sanction letter, loan agreement, letter of undertaking, guarantee
agreement, hypothecation deed, copy of demand notice, postal receipts,
return envelopes, statement of accounts and IT certificate.
6. Heard Ldcounsel for plaintiff.
7. Affidavit is supported by documentary evidence. The copy of
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SUMMARY SUIT NO.1377/2018 4
power attorney, loan application, sanction letter, loan agreement, letter
of undertaking, guarantee agreement, hypothecation deed, copy of
demand notice, postal receipts, return envelopes, statement of accounts
and IT certificate shows that in the month of November 2015
defendant no.1 approached the plaintiff bank for financial assistant. On
02/11/2015 defendant submitted the loan application and other
documents for the loan of Rs. 5,00,000/. The plaintiff bank disbursed
the loan of Rs. 5,00,000/ on 3/11/2015 as defendants have executed
all relevant documents. The said loan was to be repaid in 60 monthly
installment of Rs. 10,909/ together with 11.25% p.a. floating interest.
However the defendants failed to repay the said loan amount. The
defendants are in default of Rs.5,53,618/(Rupees Five Lacs Fifty Three
Thousand Six Hundred and Eighteen only). As far as rate of interest is
concerned plaintiff has prayed for interest @ 11.25%p.a. As the
relationship between plaintiff and defendant is contractual and the
agreement of loan states the rate of interest to be of 11.25%p.a. such
rate of interest can be granted. Therefore point No.1 to 3 are answered
as 'Yes' and following order is passed.
ORDER
1. Suit is exparte decreed with costs.
2. Defendants do jointly and severally pay to plaintiff amount of
Rs.5,53,618//(Rupees Five Lacs Fifty Three Thousand Six Hundred
and Eighteen only) with interest @ 11.25% p.a. from the date of filing
of the suit till full and final realization.
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SUMMARY SUIT NO.1377/2018 5
3. Court fee be refunded as per rules.
4. Decree be drawn up accordingly.
(M.S.LONE)
Judge,
Date: 10/10/2019 City Civil Court,Gr. Bombay
Dictated on : 10/10/2019
Transcribed on : 10/10/2019
Signed on : 11/10/2019
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SUMMARY SUIT NO.1377/2018 6
CERTIFIED TO BE TRUE AND CORRECT COPY OF THE ORIGINAL SIGNED
JUDGMENT/ORDER.”
15/10/2019 at 5.45p.m. Mr. A. S. Sugdare
UPLOAD DATE AND TIME NAME OF STENOGRAPHER
Name of the Judge (With Court
Room No.)
HHJ Shri.M.S.Lone
(C.R.NO.28)
Date of pronouncement of
Judgment/Order
10/10/2019
Judgment/Order signed by P.O. on 11/10/2019
Judgment/Order uploaded on 15/10/2019
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