Delhi District Court
M/S Embassy Max Value Mutual Benefit Ltd vs Ravinder Kumar S/O Jaypal Singh on 5 September, 2022
IN THE COURT OF SHRI SANJAY SHARMAI :
DISTRICT JUDGE (COMMERCIAL COURT)
EAST DISTRICT
KARKARDOOMA COURTS : DELHI
CS (Comm) No. 140/2021
M/s Embassy Max Value Mutual Benefit Ltd.
Office 301, Avadh Complex
D5, Laxmi Nagar, Delhi - 110092 ................Plaintiff
Versus
1. Ravinder Kumar S/o Jaypal Singh
R/o House No. 218, Khichripur
Near Wine Shop, Patparganj
Delhi - 110091
Also at:
C1, East Vinod Nagar, Gautam Marg
Delhi - 110091
Also at:
C/o Devendra Kumar (Ex. Chairman East MCD)
584/202/1 G/F, Village Khichripur
Near Wine Shop, Delhi - 110091
Also at:
C/o Devendra Kumar (Ex. Chairman East MCD)
R116, East Vinod Nagar
Delhi - 110091
2. Ashwani Kumar Sharma
S/o Shri Krishna Lal Sharma
R/o E2/A, Indira Gandhi Marg
East Vinod Nagar, Delhi - 110091
Also at:
R71, First Floor, East Vinod Nagar
Main Road, Khichripur
Delhi - 110091 ................Defendants
CS (Comm) No. 140/2021
Embassy Max Value Mutual Benefit Ltd. vs Ravinder Kumar 1 of 6
Date of institution : 08.09.2021
Date of reserving judgment : 23.08.2022
Date of judgment : 05.09.2022
JUDGMENT:
The present suit was filed by the plaintiff seeking recovery of a sum of Rs.32,00,000/ from the defendant alongwith pendente lite interest @ 18% per annum.
2. The plaintiff is a company incorporated under the Companies Act, 1956 and is engaged in the business of sanctioning/providing/disbursing loan to its members or known person at honest, sincere and genuine guarantee of its members. The present suit has been filed through Mr. Sameer Khan who was authorized by the plaintiff company vide board resolution dated 01.04.2021. 2.1 It has been averred that defendant no. 1 got membership of plaintiff company in the year 2015 and applied for loan vide loan application dated 09.12.2015 for a sum of Rs. 20,00,000/. Considering the request of defendant, plaintiff agreed to sanction the loan to defendant no. 1 It has been further averred that plaintiff issued a cheque of Rs. 20,00,000/ in favour of defendant no. 1 which was duly encashed by him. Defendant no. 2 stood as a guarantor of the said loan given to defendant no. 1 and accordingly he assured and undertook to clear all the dues in case of any default or non payment of any installment by defendant no. 1.
2.2 It was further agreed that if the default is continuous for three months then all the payments made till said default shall be CS (Comm) No. 140/2021 Embassy Max Value Mutual Benefit Ltd. vs Ravinder Kumar 2 of 6 forfeited and shall not be adjusted against the payment of loan amount. It has been averred that defendants committed various defaults and accrued much interest due to delay in payment of installments. 2.3 Plaintiff requested the defendants several times to clear the outstanding but defendant avoided to make the payment. Plaintiff also sent demand notice dated 02.03.2021 to the defendants whereafter defendants visited the office of plaintiff and settled the outstanding amount calculated at Rs. 32,08,783/ upto February 2021. Defendant no. 1 issued one cheque dated 10.03.2021 for Rs. 32,00,000/ in favour of plaintiff towards the outstanding which got dishonoured on presentation for the reason 'stopped by drawer'. Plaintiff again sent legal notices dated 24.03.2021 and also initiated criminal proceedings under Section 138 NI Act. Plaintiff approached the East Delhi Legal Service Authority for pre litigation mediation and Nonstarter report dated 23.07.2021 was issued. Hence, the present suit.
3. Summons of the suit were served upon the defendants. Defendant no. 1 & 2 were served however, no written statement was filed by either of the defendant within the period of limitation and hence, their right to file written statement was struck off vide orders dated 07.04.2022 and 19.05.2022.
4. Plaintiff led his evidence and examined his Authorized Representative/Employee as PW1 by way of affidavit Ex. PW1/A and relied upon the following documents :
Certified extract of Resolution dated 01.04.2022 as Ex. PW1/1. Computer generated copy of Company Master Data of plaintiff as Ex. PW1/2.CS (Comm) No. 140/2021
Embassy Max Value Mutual Benefit Ltd. vs Ravinder Kumar 3 of 6 Copy of Membership Forms of defendant no. 1 dated 07.12.2015 as Ex. PW1/3 (OSR) Copy of the loan application form as Ex. PW1/4 (OSR) Copy of Membership Forms of defendant no. 2 dated 06.07.2015 as Ex. PW1/5 (OSR) Certified copy of Cheque dated 10.03.2021 as Ex. PW1/6. Certified copy of Cheque Returning Memo as Ex. PW1/7. Copy of Legal notice as Ex. PW1/8.
Computer generated copy of delivery reports as Ex. PW1/9 (colly).
Non starter report dated 23.07.2021 as Ex. PW1/10. Computer generated ledger of defendant maintained by plaintiff as Ex. PW1/11.
Certificate under Section 65B of the Evidence Act in respect of computer generated documents as Ex. PW1/12.
Copy of cheque dated 09.12.15 as Mark X. Copy of undertaking given by defendant no. 2 as Mark Y Copy of postal and courier receipts as Mark Z (colly).
5. I have heard Shri Parveen Kumar - Ld. Counsel for the plaintiff and have also gone through the records of the case.
6. The evidence led by PW1 has gone unrebutted and unchallenged and there is nothing on record to disbelieve the same. PW1 has deposed that the plaintiff company was engaged in the business of sanctioning/providing/disbursing loan to its members on genuine and honest guarantee of its members subject to satisfaction of plaintiff as well as government policy and conditions prevailing in the market. He further deposed that defendant no. 1 got membership of plaintiff company in the year 2015 Ex. PW1/3 and defendant no. 2 who was also a member of CS (Comm) No. 140/2021 Embassy Max Value Mutual Benefit Ltd. vs Ravinder Kumar 4 of 6 plaintiff company vide Ex. PW1/5 stood guarantor for defendant no. 1. 6.1 PW1 further deposed that defendant no. 1 applied for loan of Rs. 20,00,000/ with plaintiff company vide Ex. PW1/4 i.e. loan application dated 09.12.2015 with assurance for timely compliance of loan terms and conditions. He further deposed that plaintiff accordingly sanctioned the said loan to defendant no. 1 and issued a cheque for Rs. 20,00,000/. He proved the copy of said cheque Mark X and copy of undertaking given by defendant no. 2 Mark Y. 6.2 PW1 further deposed that defendants made several defaults in payment of outstanding amount and that defendant no. 1 issued one cheque for Rs. 32,00,000/ as full and final settlement which got dishonoured upon presentation. He proved the said cheque Ex. PW1/6 and its returning memo Ex. PW1/7.
6.3 He also proved the legal notice Ex.PW1/8 and copy of delivery reports Ex. PW1/9 and certificate under Section 65B of Evidence Act in respect of computer generated documents Ex. PW1/12. 7 All the documents show that the plaintiff granted loan to defendant no. 1 on the guarantee of defendant no. 2 who committed defaults in payment of installments and a balance amount of Rs. 32,00,000/ remained due upon the defendants. 7.1 Plaintiff filed the present suit on 08.09.2021. Thus, the suit was filed within the period of limitation. This Court also has the pecuniary as well as the territorial jurisdiction to try and dispose of the present suit.
8. Accordingly, the suit of the plaintiff is hereby decreed in its favour and against the defendants and it is directed that the defendants CS (Comm) No. 140/2021 Embassy Max Value Mutual Benefit Ltd. vs Ravinder Kumar 5 of 6 shall jointly and severely pay a sum of Rs.32,00,000/ to the plaintiff alongwith interest @ 18% per annum w.e.f. 08.09.2021 i.e. the date of filing of the suit, till the realization of the said amount. Costs of the suit are also awarded to the plaintiff. Decree Sheet be prepared accordingly.
File be consigned to Record Room.
ANNOUNCED IN OPEN COURT ON 05th day of September 2022 (SANJAY SHARMAI) District Judge (Commercial Court01) East District Karkardooma Courts, Delhi CS (Comm) No. 140/2021 Embassy Max Value Mutual Benefit Ltd. vs Ravinder Kumar 6 of 6