Final Order 1

Order Details: Ex-parte Judgement
Pdf Text: Comm.Suit No. 215/19. 1 Ex-parte Judgment (Exh.20).
MHCC010095212019
Presented on : 18-09-2019
Registered on : 26-11-2019
Decided on : 21-09-2021
Duration : 2 years, 0 months, 3 days
IN THE BOMBAY CITY CIVIL COURT AT BOMBAY.
COMMERCIAL SUIT NO. 215 OF 2019
Exh.20.
Central Bank Of India, )
body Corporate Constituted Under )
the Banking Companies (Acquisition )
and Transfer of Undertakings) Act, V )
of 1970 having its Central office at )
Chander Mukhi, Nariman Point, )
Mumbai and a Branch Known as Colaba )
Causeway Branch situated at )
Telephone Bhavan, Colaba Mumbai 400 005 )...Plaintiff
Versus
Rajesh Darshanlal Medh, )
Proprietor of Rahul Car Accessories )
Carrying on business at Shop No. 5, )
Plot No. 12, Agarwal Chamber, Sector 19/C, )
Vashi Navi Mumbai )
Residing at Flat No. G4/103, Moraj Residency, )
Vashi, Navi Mumbai – 400 703 )...Defendant
SUIT FOR RECOVERY OF MONEY
CORAM : HIS HONOUR JUDGE SHRI R.R.BHAGWAT.
(C.R.NO.31).
DATE : 21st SEPTEMBER, 2021.
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Comm.Suit No. 215/19. 2 Ex-parte Judgment (Exh.20).
Mrs. M.R.Patel, Advocate for the plaintiff.
None for the defendant – (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 and Transfer of Undertakings) Act,
1970. The defendant is the proprietor of M/s. Rahul Car Accessories
carrying on business of buying and selling of car accessories, car
services, fitting and painting at Agarwal Chamber, Vashi, Navi Mumbai.
The defendant was an old customer of the plaintiff having current
account with her. The plaintiff granted overdraft facility under Mudra
Scheme for Rs.6,00,000/ with interest at the rate of 10.20% p.a. with
monthly rest to the defendant in March 2016 by relying upon
unconditional acceptance of terms and conditions on 19/03/2016. The
defendant had executed various documents as enumerated in para 5 of
the plaint. The defendant availed the credit limit under overdraft
facility to the fullest extent and he was irregular in repayment of
outstanding dues. On inspection, hypothecated goods were not
available with the defendant. The defendant is not running the
business at the address given by him. The defendant admitted availing
of loan facility by sending email on 13/11/2018 to the plaintiff. As the
defendant failed to make payment, the plaintiff issued notice dated
20/11/2018 through his advocate for payment of outstanding amount
of Rs.5,91,601.50 as on 10/03/2017 with further interest at the rate of
10.20% p.a. on monthly rest. Ultimately, the plaintiff filed the suit with
prayer of recovery of Rs.7,86,255/ with further interest at the rate of
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Comm.Suit No. 215/19. 3 Ex-parte Judgment (Exh.20).
10.20% p.a. with monthly rest plus penal interest at the rate of 2% p.a.
from the date of the suit till realization with cost.
3. The defendant was duly served with writ of summons as
per affidavit of service (Exh.3), but he failed to appear and oppose the
claim of the plaintiff. Therefore, my learned Predecessor passed the ex
parte order against him on 11/02/2021.
4. PW 1 Ravi Shankar, Chief Manager of South Bombay
Regional Office of the plaintiff deposed on evidence affidavit (Exh.4)
and proved documents filed with list of documents (Exh.5). Proved
documents are at Ex.6 to 16. PW 1 Ravi Shankar filed original
authority letter dated 19/01/2019 in respect of Santaji Sayaji Surve
who filed the suit. It is at Exh.18. The plaintiff closed evidence vide
pursis (Exh.19). Heard learned counsel Mrs. M.R.Patel 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.7,86,255/ from the defendant ? If
yes, at what rate of interest ? In the Affirmative.
With interest @
10.20% p.a. with
quarterly rest.
2. What order as to cost ? As per final order.
3. What order and decree ? Suit is partly
decreed.
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Comm.Suit No. 215/19. 4 Ex-parte Judgment (Exh.20).
REASONS
AS TO POINT NOS.1 AND 2 :
6. PW 1 Ravi Shankar has deposed that he is Chief Manager
of South Bombay Regional Office of the plaintiff bank. He has deposed
that overdraft facility of Rs.6,00,000/ was sanctioned to the defendant
as per letter dated 19/03/2016 (Exh.6). He has further stated about
documents executed by the defendant in para 6 of his affidavit. These
documents are at Exh.7 to 12. He has further proved the defendant's e
mail dated 13/11/2018 (Exh.13) in which he has admitted the loan
liability and gave justifications for nonpayment of loan amount. Letter
issued by advocate of the plaintiff to the defendant on 20/11/2018 is
at Exh.14. Statement of account (Exh.15) reveals that amount of
Rs.7,86,255/ was outstanding as on 18/01/2019.
7. Rate of interest is mentioned in agreement of
hypothecation (Exh.12) as well as sanction letter (Exh.6) and it is
between 9.70% plus 0.50% with quarterly rest. Considering terms of
agreement, interest cannot be granted at monthly rest. Furthermore,
penal interest is not justified because Mudra Loan is sanctioned to poors
for facilitating them to start and run the business. Imposition of penal
interest does not appear to be appropriate considering interest rate of
loan amount. Therefore, claim of the plaintiff can be decreed with
above discussed modification in the light of unrebutted oral and
documentary evidence on record. Cost of the suit is liable to be
imposed on the defendant. In the light of above discussion, I record my
findings as to point no.1 in the affirmative with modification as
discussed above. Hence, I pass the following order :
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Comm.Suit No. 215/19. 5 Ex-parte Judgment (Exh.20).
ORDER
1. Commercial Suit No. 215/2019 is partly decreed.
2. The defendant is directed to pay amount of Rs.7,86,255/
(Rupees Seven Lakhs Eightysix Thousand Two Hundred
Fiftyfive Only) to the plaintiff with interest @ 10.20% p.a.
with quarterly rest from the date of filing of the suit till its
realization, within three months from the date of decree.
3. The defendant 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 : 21/09/2021. Mumbai.
1. Dictated online on : 21/09/2021.
2. Signed on : 21/09/2021.
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
21/09/2021. 4.48 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 21/09/2021.
Judgment/Order signed by P.O. on 21/09/2021.
Judgment/Order uploaded on 21/09/2021.
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