Delhi District Court
State Bank Of India vs Mr. Shashank on 9 October, 2018
IN THE COURT OF MS. MANJUSHA WADHWA
ADJ 04 (WEST), TIS HAZARI COURTS, DELHI
Suit No. 613600/16
State Bank of India,
a body corporate constituted
under the State Bank of India
Act, 1955 ,having its Head office/
Central office/Corporate office
at State Bhawan, Madame Cama Road,
Nariman Point, Mumbai and
one of its local Head Office at 11,
Sansad Marg, New Delhi01 and having
one of its Branch at Paschim Vihar and
RACPC at A5, Pearl Best HeightI,
Netaji Subhash Palace, New Delhi
Through its Chief Manager Sh. A.K.Fotedar ...Plaintiff
Versus
1.Mr. Shashank S/o Sh. Rajesh Kumar
2. Mr. Rajesh Kumar Sh. Mahinder Singh Both At: R/o WZ44, Titarpur, Near Kirti Nagar Metro Station New Delhi110027 Both Also At: 63/12A, IInd floor, Mane Nagar, Rama Road, Near Kirti Nagar, New Delhi110027 ...Defendants Date of Filing Suit : 08.10.2016 Date of Reserving Judgment : 24.09.2018 Date of Judgment : 09.10.2018 Civ Dj No.613600/16 State Bank of India vs. Shashank & Anr. Page 1 of 6 J U D G M E NT
1. This is the suit for recovery of an amount of Rs. 5,90,613/ alongwith pendentelite and future interest, filed by the plaintiff against the defendants.
2. Succinctly put, facts of the present case as per the plaint are that defendant no.1, being student as borrower and the defendant no.2, being father of the defendant no.1, as coapplicantcumguardian cum guarantor had approached the plaintiff's bank for grant of education loan and consequently, the plaintiff's bank had sanctioned and disbursed education loan of Rs. 4,00,000/ to the defendants on 30.04.2011. In order to avail the said loan, the defendants had executed loan documents including education loan agreement dated 30.04.2011, arrangement letter dated 30.04.2011 etc.
3. It is also pleaded by the plaintiff that the defendants agreed to repay the entire loan amount to the plaintiff in 84 equated monthly installments of Rs. 7,115/ each in terms of loan agreement.
4. The plaintiff further pleaded that defendants failed and neglected to repay the installments, as a result of which, loan account became irregular. According to the plaintiff, the defendant nos 1 & 2 had paid the last installment on 12.09.2013 and loan account of the defendants was declared as NPA on 30.06.2016. The plaintiff claimed to have Civ Dj No.613600/16 State Bank of India vs. Shashank & Anr. Page 2 of 6 issued legal demand notice dated 25.07.2016 to the defendants to repay the due amount, but to no avail. According to the plaintiff, an amount of Rs. 5,90,613/ is due and recoverable from the defendants, details of which is provided in para 17 of the plaint as:
Outstanding Amount as per Statement of Account Rs. 4,56,640/ Accrued Interest from 30.06.16(NPA Date) to the date of 07/10/2016 Rs. 1,33,973/ _____________ TOTAL Rs. 5,90,613/ _____________
5. The plaintiff's bank thus filed the present suit for recovery of an amount of Rs. 5,90,613/ alongwith pendentlite and future interest @ 13.5% per annum with monthly rests & cost of the suit.
6. Perusal of the record shows that the defendants were served, but the defendants did not appear despite service. Vide order dated 17.07.2017, the defendants were proceeded exparte.
7. In order to prove the case, the plaintiff's bank has examined Sh.
Prem Kumar, Chief Manager, SBI as PW1 and relied upon the following documents as: S.No. Particulars of documents Exhibition of documents 1 Copy of Power of Attorney Mark A Civ Dj No.613600/16 State Bank of India vs. Shashank & Anr. Page 3 of 6 2 Original loan application & proposal ExPW1/B(colly) forms ect 3 Copy of documents qua Intended ExPW1/C(colly) Course 4 Appraisal reportEducation loan & ExPW1/D(colly) sanction letter 5 Original Agreement of term loan ExPW1/E 6 Original Annexure I signed and ExPW1/F submitted by the defendants 7 Original Operation Letter ExPW1/G 8 Copy of the undertaking by the ExPW1/H defendants 9 Change Letter dated 30.04.2011, ExPW1/I(colly) release of installments dated 03.04.2012 etc. 10 Copy of legal notice dated ExPW1/J(colly) 25.07.2016 and its original postal receipt 11 Statements of account of the ExPW1/K defendants 12 Original certificate U/s 2A of ExPW1/L. Bankers' Book of Evidence Act and Section 65B of Evidence Act.
13 Original certificate of accrued ExPW1/M. interest
8. Heard Ld. counsel for the Plaintiff and perused the record.
Civ Dj No.613600/16 State Bank of India vs. Shashank & Anr. Page 4 of 69. PW1 has deposed in his evidence about the contents of the plaint.
PW1 has not been crossexamined on any aspect. Further, non appearance of the defendants in the present case makes the testimony of PW1 unrebutted, unchallenged and uncontroverted and thus, there is nothing on record to disbelieve the testimony of the plaintiff's witness. Testimony of PW1 coupled with the aforesaid documents establish that the defendants had taken Education Loan of Rs. 4,00,000/ and did not repay the same as per the agreed schedule.. Hence, the plaintiff has been successful in proving its case for recovery of the outstanding loan amount from the defendants.
10. PW1 has deposed in para 17 of his affidavit, ExPW1/1 that outstanding amount as per statement of account is Rs. 4,56,640/ and accrued interest from 30.06.2016 i.e NPA Date till 07.10.2016 is Rs. 1,33,973/. He deposed that the plaintiff is entitled to recover an amount of Rs. 5,90,613/ from the defendants.
11. According to the plaintiff, the defendant had paid last installment on 12.09.2013, and thereafter, did not pay any amount despite follow up by the plaintiff. The plaintiff had declared the account of the defendant as NPA on 30.06.2016. In the considered opinion of this court, the plaintiff ought to have filed the case immediately on declaring the loan account of the defendants as NPA, more so,when the defendants failed to pay any amount after 12.09.2013. In view thereof, the plaintiff is not entitled to claim contractual rate of interest after the loan account of the defendants was declared as NPA on 30.06.2016.
Civ Dj No.613600/16 State Bank of India vs. Shashank & Anr. Page 5 of 612. Keeping in view the provision as enumerated in Section 34 CPC, the ends of justice would be met by granting simple interest @6% per annum on the outstanding amount of Rs. 4,56,640/ as on 30.06.2016 from 01.07.2016 till the date of payment.
13. In view of the above, suit filed by the plaintiff is decreed in favour of the Plaintiff and against the defendants jointly & severally for an amount of Rs. 4,56,640/ alongwith simple interest @ 6% per annum from 01.07.2016 till its realization. Cost of the Suit is also awarded in favour of the Plaintiff. Decree sheet be prepared accordingly. File be consigned to record room.
Announced in the open court (Manjusha Wadhwa) th on 09 October, 2018. Addl. District Judge04 (West) Tis Hazari Courts,Delhi Digitally signed by MANJUSHA MANJUSHA WADHWA WADHWA Date:
2018.10.10 15:56:58 +0600 Civ Dj No.613600/16 State Bank of India vs. Shashank & Anr. Page 6 of 6