Final Order 1

Order Details: Ex-parte Judgement
Pdf Text: COMM. SU2532019 1
MHCC010079452019
Presented on : 30072019
Registered on : 09122019
Decided on : 02032021
Duration : Y01 M07D03
IN THE COURT OF SESSIONS FOR GREATER BOMBAY
COMMERCIAL SUIT NO. 253 OF 2019
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, ]
Bangalore560002, and one of its Branch Office amongst]
others known as Chembur Main Branch having address ]
at 70, Mangal Smruthi, MDS Marg, Chembur, ]
Mumbai – 400 071, in the State of Maharashtra, ]
represented by Mr. Yadavendra Kumar Ujagar, ]
Age: 36 years, officer ]...Plaintiff
V/s
1. M/s Tara Tours and Travels ]
(Proprietor Mohd Zubair Qureshi) Room No. 678, ]
Plot No. 12, New Lotus Colony, Govandi, ]
Mumbai400 043 ]
2. Mohd Zubair Qureshi, AgeAdult, S/o Mohd. Haneef]
Qureshi (Proprietor of M/s Tara Tours and Travels) ]
Room No. 678, Plot No. 12, New Lotus Colony, ]
Govandi, Mumbai 400 043 ]...Defendants
APPEARANCE:
Ld. Adv. Shradha Agrawal for plaintiff.
None for defendant.
CORAM : HIS HONOUR ADDL.SESSIONS
JUDGE SHRI. SANJAY N. YADAV
(C.R.No.32).
DATED : 02nd March, 2021.
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COMM. SU2532019 2
Claim : Suit for recovery of Money.
EXPARTE JUDGMENT
(Dictated in Open Court)
The plaintiff by this suit seeks judgment and decree against
defendants, directing the defendants to pay to the plaintiff a sum of
Rs.6,39,822.77/ (Rupees Six Lakh Thirty Nine Thousand Eight
Hundred Twenty Two and Paise Seventy Seven Only). The plaintiff also
had prayed for further interest at the rate of 11.20% p.a. overdue with
monthly rests from the date of filing of suit till its realization.
2. The facts giving rise to the suit in short can be stated as
follows:
The defendants had approached for Term Loan of
Rs.6,19,681/ by application dated 15.07.2016 under Canara Loan to
Micro and Small Enterprises (MSEs) Pragati Scheme. The defendants
had executed several documents and the loan of Rs.6,19,681/ was
sanctioned on 19.07.2016 under Loan Account No. 0105768000114 for
Maruti Swift Dzire Car. The defendants were agreed to pay the loan in
60 monthly installments. The defendants had executed the following
documents in favour of the plaintiff:
(a) Letter of Undertaking re: Loans/Advances on Form NF
721/2L(50)082015 dated 22.07.2016.
(b) Particulars of Vehicles/Machinery/Equipment/Livestock
etc,hypothecated with the plaintiff on Form NF 373/ 2L
(100)/200801 dated 01.08.2016.
(c) Deed of Hypothecation RE: Vehicle on Form NF
722/1L(25)/ 201508 dated 22.07.2016.
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COMM. SU2532019 3
3. The term loan of Rs.6,19,681/was granted and disbursed
by the plaintiff to the defendants. The defendants neglected to repay the
loan amount. The plaintiff had called the defendants to pay the
outstanding amount by letter dated 23.08.2018. The letter was received
by the defendants.
The plaintiff, therefore, had instituted the present suit for
recovery of amount of Rs.6,39,822.77/. The plaintiff also had prayed
for further interest at the rate of 11.20% p.a. overdue with monthly
rests from the date of filing of suit till its realization.
4. The defendants were served with writ of summons on
03.02.2020. The defendants had failed to appear in the suit. The suit
proceeded exparte against defendants.
5. The following points arise for my determination with my
findings thereon and the reasons to follow :
SR.
NO. POINTS FINDINGS
1 Whether the plaintiff is entitled for
recovery amount of Rs.6,39,822.77/
(Rupees Six Lakhs Thirty Nine Thousand
Eight Hundred Twenty Two Paise
Seventy Seven Only) with further
interest at the rate of 11.20% per annum
from the date of filing of suit till its
realization.
'In Affirmative'
2 What order and decree? As per final order below.
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COMM. SU2532019 4
REASONS
AS TO POINT NO. 1:
6. Heard learned Advocate Mr. Shradha Agrawal for the
plaintiff.
7. The plaintiff in support of its case had examined Mr.
Yadvendra Kumar Ujagar, Officer of the plaintiff Bank at Exh. 06. The
plaintiffs had relied upon following documents (Exh.07):
Sr.
No.
Date Particulars Exh.
1 27.08.2013 Copy of Power of Attorney 8
2 19.07.2016 Original Loan Application and Sanction
Memorandum
9
3 22.07.2016 Original Letter of Undertaking 10
4 01.08.2016 Original Particulars of
Vehicles/Machinery/Equipment/Livestock
etc, hypothecated
11
5 22.07.2016 Original Deed of Hypothecation 12
6 23.08.2016 Office copy Legal Notice, Postal Receipts and
Acknowledgment Cards
13
7 Statement of Account 14
8 Particulars of plaintiff's claim against
defendants
15
8. The witness Yadvendra Kumar Ujagar had reiterated all the
contentions raised by the plaintiff in the plaint. The evidence of the
witness points out that pursuant to the application of term loan of
Rs.6,19,681/ was sanctioned. The defendants had executed the
following documents:
a) Letter of Undertaking re: Loans/Advances on Form NF
721/2L(50)082015 dated 22.07.2016.
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COMM. SU2532019 5
(b)Particulars of Vehicles/Machinery/Equipment/Livestock
etc,hypothecated with the plaintiff on Form NF 373/ 2L
(100)/200801 dated 01.08.2016.
(c) Deed of Hypothecation RE: Vehicle on Form NF
722/1L(25)/ 201508 dated 22.07.2016.
9. The loan of Rs.6,19,681/ was disbursed. The defendant
was irregular in repayment of loan amount. Therefore, the notice was
issued by the plaintiff to the defendant on 23.08.2018. The notice was
received by the defendant, but had failed to repay the amount.
10. The agreed rate of interest between the plaintiff and
defendants is 10.5% per annum. The defendants had failed to pay the
amount. The defendants had already executed all the required
documents. The amount was deposited in the account of the
defendants. The defendants had failed to repay the amount of
Rs.6,19,681/. The defendants was served with writ of summons. The
defendant had not contested the suit. The contentions raised by the
plaintiff in the plaint have gone unchallenged. The plaintiff had
successfully shown that the defendants are in arrears of the loan
amount.
The plaintiff is entitled for recovery of amount of Rs.
Rs.6,39,822.77/ with further interest at the rate of 10.15% per annum
from the date of filing of suit till its realization. Hence I answered point
No. 1 “in Affirmative.” In the result, following order is passed.
ORDER
1. Suit is decreed with costs.
2. The Defendants are directed to pay to the plaintiff a sum of
Rs.6,39,822.77/ (Rupees Six Lakhs Thirty Nine Thousand Eight
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COMM. SU2532019 6
Hundred and Twenty Two and Paise Seventy Seven only) with
further interest at the rate of 10.15% p.a. from the date of filing of
suit till its realization.
3. Decree be drawn up accordingly.
(SANJAY N. YADAV)
Additional Sessions Judge
Date: 02.03.2021 Gr.Bombay at Mumbai.
Dictated on : 02.03.2021
Transcribed on : 04.03.2021
Signed by H.H.J.on : 05.03.2021
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COMM. SU2532019 7
“CERTIFIED TO BE TRUE AND CORRECT COPY OF THE ORIGINAL
SIGNED JUDGMENT/ORDER”
06.03.2021 at 2.00 p.m.
UPLOAD DATE AND TIME
(Mrs. K.S.Bhosale)
NAME OF STENOGRAPHER
Name of the Judge HHJ SHRI S.N.Yadav
(COURT ROOM NO.32)
Date of pronouncement of
judgment/order
02.03.2021
Judgment/order signed by P.O. on 05.03.2021
Judgment/order uploaded on 06.03.2021
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