Final Order 1

Order Details: Ex-parte Judgement
Pdf Text: 1 Comm.SU No.2172019
MHCC010098132019
Presented on : 24092021
Registered on : 26112021
Decided on : 09122021
Duration : Y02, M02, D 15
IN THE CITY CIVIL COURT FOR GR.BOMBAY AT MUMBAI
COMMERCIAL SUIT NO.217 OF 2019
Canara Bank, ]
A body corporate constituted under the provisions of ]
Banking Companies (Acquisition and Transfer of ]
Undertakings) Act,V of 1970 having its one of the ]
Branch at: Mondesire Building, Ranade Road Junction, ]
Shivaji Park, Dadar (W), Mumbai400 028, Maharashtra]
known as “Dadar (W) Branch” Constituted Power of ]
Attorney Holder/Sr. Manager, ]
Mr.Krishnakumar L. Samant ]...Plaintiff
V/s
Mr. Mohd Gulfam Nasiruddin Ahmed ]
A Principle Borrower, an adult, Indian Inhabitant ]
of, having his address at: Room No.103, Majid ]
Apartment, Hall Road, Near Karthika High School, ]
Kurla (w), Mumbai400 070 ]....Defendant
APPEARANCE:
Adv.O.A.Das for the plaintiff.
Defendant Exparte.
CORAM : RAJESH A. SASNE
ADHOC JUDGE
(C.R.No.32)
DATED : 09th December, 2021
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EXPARTE JUDGMENT
This is suit under Section 2(1)(c) of the Commercial Courts
Act, 2015 for recovery of amount advanced to the defendant by term
loan.
In brief, facts of the plaintiff's case are as under :
2. On the request of the defendant, the plaintiff advanced
term loan of Rs.5,71,000/ to the defendant. The defendant has
executed necessary documents in favour of the plaintiff. The defendant
was liable to repay the loan in 60 monthly installments, each of
Rs.12,475/ per months plus interest at the rate of 11.20% p.a. As the
defendant failed to repay the outstanding amount, the loan account is
declared as NPA on 30.06.2017. The plaintiff has issued notices dated
31.01.2019 and 20.04.2019 to the defendant calling upon him to repay
the outstanding amount. On 24.04.2019, amount of Rs.3,80,648.81 was
due and payable from the defendant alongwith interest Rs.50,631.00.
The defendant is liable to pay amount of Rs.4,31,279.81 alongwith
further interest @ 10.15% p.a. Accordingly, the plaintiff has prayed for
decree against the defendant in respect of said amount.
3. By order dated 03.09.2021, the suit is proceeded exparte
against the defendant.
4. Heard the learned Advocate for the plaintiff. No argument
of the defendant. Points for determination along with my findings
thereon with reasons are as under:
POINTS FINDINGS
1. Whether the plaintiff proves that it has Yes
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advanced term loan of Rs.5,71,000/ to the
defendant ?
2. Whether the defendant has failed to repay
the amount due against the loan to the
plaintiff ?
Yes
3. Whether the plaintiff proves that the
amount of Rs.4,31,279.81 is due and
payable from the defendant?
Yes
4. If yes, at what rate of interest ? @ 10.15% p.a.
5. What order and decree? Suit is decreed.
REASONS
AS TO POINT NOs.1 to 4:
5. All these points are interlinked with each other, hence to
avoid repetition of findings, they are taken together for consideration.
The plaintiff in support of its claim has examined Jyotsna (PW1) at
Exh.05. The plaintiff has relied on the following documentary evidence:
1 Power of Attorney at Exh.7
2 Application dated 10.03.2015 at Exh.8
3 Sanction letter dated 30.03.2015 at Exh.9
4 Specimen Signature Card for Borrowal accounts dated
31.03.2015 at Exh.10
5 Certificate of loan papers obtained dated 31.03.2015 at
Exh.11
6 Letter of undertaking dated 31.03.2015 at Exh.12
7 Deed of hypothecation dated 31.03.2012 at Exh.13
8 Letter evidencing execution of document dated 31.03.2015
at Exh.14
9 Particulars of vehicles dated 16.04.2015 at Exh.15
10 Description of vehicle at Exh.16
11 Acknowledgment of debt and securities dated 31.01.2018 at
Exh.17
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12 Office copy of Advocate Notice dated 20.04.2019 at Exh.18
13 Statement of account alongwith I.T. Certificate at Exh.19
6. The documentary evidence alongwith oral evidence of the
plaintiff shows that the defendant approached the plaintiff bank for
obtaining term loan of Rs.5,71,000/. The sanction letter (Exh.9) shows
that the plaintiff bank has sanctioned term loan of Rs.5,71,000/ to the
defendant with rate of interest at the rate of 11.20% p.a. The period for
repayment of loan was 60 months. The defendant has executed letter of
undertaking which is at Exh.12. The defendant by executing
acknowledgment of debt and securities (Exh.17) admitted the liability
and acknowledged it on 31.01.2018. The oral evidence and
documentary evidence clearly shows that the defendant has obtained
loan of Rs.5,71,000/ from the plaintiff.
7. Jyotsna (PW1) deposes that the defendant has failed and
neglected to pay the outstanding amount of the loan. The defendant
was called upon to pay the outstanding loan amount by legal notice
dated 20.04.2019 (Exh.18). She further deposes that in spite of this, the
defendant has failed to pay the outstanding amount. Amount of
Rs.4,31,279.81 was due and payable from the defendant to the plaintiff.
For which the plaintiff has relied on the account statement at Exh.19.
These documents alongwith oral evidence show that the defendant has
failed to pay the outstanding amount of Rs.4,31,279.81 to the plaintiff.
8. The agreed rate of interest as stated in the sanction letter is
11.20% p.a. [Which was 1.00% above ongoing base rate]. In the plaint,
the plaintiff has claimed rate of interest @ 10.15% p.a. as per the
contract. Hence, in my view, the plaintiff is entitled for the rate of
interest at the rate of 10.15% p.a. on the due amount from the date of
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filing of suit till realisation.
9. As aforesaid the plaintiff proves that the defendant has
obtained loan of Rs.5,71,000/ from the plaintiff. The plaintiff also
proves that the defendant has failed to repay the balance loan amount
of Rs.4,31,279.81 which is due and payable from the defendant to the
plaintiff. Hence, the plaintiff is entitled for the decree against the
defendant for recovery of said amount along with interest at the rate of
10.15% p.a. from the date of filing of this suit till realisation of amount.
Accordingly, I answer points No.1 to 4.
AS TO POINT NO.5:
10. In view of my findings to point Nos.1 to 4, the suit is liable
to be decreed with costs. In the result, in answer to point No.5, I pass
the following order.
ORDER
1. Suit is decreed with costs.
2. The defendant do pay to the plaintiff an amount of
Rs.4,31,279.81(Rupees Four Lakh Thirty One
Thousand Two Hundred Seventy Nine and Paise
Eighty One Only) together with interest at the rate of
10.15% per annum from the date of filing of this suit
till its realisation.
3. Decree be drawn up accordingly.
(Rajesh A.Sasne)
Judge,
City Civil & Sessions Court,
Date : 09.12.2021 Mumbai.
Dictated on : 09.12.2021
Transcribed on : 09.12.2021
Signed by HHJ on : 10.12.2021
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“CERTIFIED TO BE TRUE AND CORRECT COPY OF THE ORIGINAL
SIGNED JUDGMENT/ORDER”
10.12.2021 at 5.48 p.m.
UPLOAD DATE AND TIME
(Mrs. K.S.Bhosale)
NAME OF STENOGRAPHER
Name of the Judge HHJ SHRI RAJESH A.SASNE
(COURT ROOM NO.32)
Date of pronouncement of
judgment/order
09.12.2021
Judgment/order signed by P.O. on 10.12.2021
Judgment/order uploaded on 10.12.2021
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