Bangalore District Court
Indian Overseas Bank vs Mr.Balaraju.K.M on 28 October, 2021
KABC010024702020
C.R.P.67 Govt. of Karnataka
Form No.9(Civil)
Title Sheet for
Judgment in Suits
(R.P.91)
TITLE SHEET FOR JUDGMENTS IN SUITS
IN THE COURT OF THE XII ADDL. CITY CIVIL JUDGE,
AT BENGALURU
Dated this the 28th day of October, 2021.
PRESENT: SRI. SATHISHA L.P., B.A.,LL.B.,
XII ADDL.CITY CIVIL & SESSIONS JUDGE
(CCH.No.27), BENGALURU
O.S.No.623/2020
PLAINTIFF : Indian Overseas Bank,
a body corporate constituted
under the Banking Companies
(Acquisition and Transfer
of Undertakings) Act-V of
1970, having its Central Office,
At No.763, Anna Salai,
Chennai-600002 and a branch
office amongst other place,
Yelahanka Branch,
No.686, "PRUTHVI MANSION"
3rd 'A' cross, Opp: Seshadripuram
2 O.S.No.623/2020
College, Yelahanka New Town,
Bangalore -56064.
represented by its Senior Manager
and power of attorney holder
Smt.Saradhambal.R
w/o. Sri.S.Ramasubbu
aged about 59 years,
Phone: 080-22950335,22950336
E-Mail: [email protected]
PAN No.AAACI1223J
(By Sri Gopalakrishna R.Hegde
Advocate)
VS.
DEFENDANT : Mr.Balaraju.K.M.
s/o. Sri.Mahalingappa,
aged about 30 years,
R/o.552-A, Brammanar Street,
Yelahanka Old Town,
Bangalore-560064.
(Defts- Exparte)
Date of Institution of the suit : 23.01.2020
Nature of the suit : Money Suit
Date of commencement of : 27.10.2021
recording of the evidence
Date on which the Judgment : 28.10.2021
was pronounced
Total Duration Years Months Days
01 09 05
(SATHISHA L.P.)
XII ADDL.CITY CIVIL & SESSIONS JUDGE
BENGALURU CITY
3 O.S.No.623/2020
JUDGMENT
The plaintiff bank is before the court for recovery of Rs.11,51,855/- with interest at the rate of 12.10% p.a. with monthly rests from the date of suit, till realization from the defendant, with cost and such other reliefs.
2. The case of the plaintiff bank is that, the defendant who is borrower had approached the plaintiff bank with a request to sanction of a Term loan Mudraloan under CTGMSE Scheme. Accordingly, the plaintiff has sanctioned the Term loan of Rs.10 Lakh on 13.04.2018. The defendant has accepted the terms and conditions and acknowledged the sanctioned advise letter dated 13.04.2018. Defendant has also executed the loan documents on 13.04.2018 and availed the loan. Despite the demand and requests, the defendant did not improve his transaction and failed to pay the installments as agreed and he has become defaulter. Therefore, the plaintiff bank has issued legal notice on 23.11.2019 4 O.S.No.623/2020 through the counsel, calling upon the defendant to pay the entire dues. The defendant has not complied with the legal notice demands and hence the plaintiff is before the court for recovery of said amount.
3. The defendant remained exparte.
4. In order to substantiate the plaint averments, the plaintiff bank's Manager by name Mr. M.Rajesh is examined as P.W.1 and Ex.P.1 to P.12 are marked. Ex.P.1 is sanction letter dated 13.04.2018, Ex.P2 is DP note dated 13.04.2018, Ex.P3 is the letter dated.13.04.2018, Ex.P4 is the installment letter dated 13.04.2018, Ex.P5 is the letter of undertaking dated.13.04.2018, Ex.P6 is the Hypothecation deed dated 13.04.2018, Ex.P7 is the office copy of legal notice dated 23.11.2019, Ex.P8 & P9 are RPAD receipts. Ex.P10 & P11 are returned RPAD cover, Ex.P10(a) and Ex.P11(a) contents of Ex.P10 & P11. Ex.P12 is the Accounts statement.
5 O.S.No.623/2020
5. Heard the arguments and perused the records.
6. Now the points for my consideration are:-
(a)Whether the plaintiff bank is entitle to recover the suit claim of Rs.11,51,855/- with interest @ 12.10% p.a. with monthly rests from the date of suit till the date of recovery ?
(b) What order?
7. My finding on the above points are :-
Point No.1: In the affirmative Point No.2: As per final order, for the following:-
REASONS
8. Point Nos.1 & 2 :- The plaintiff bank is before the Court for the recovery of Rs. 11,51,855/- with interest @ 12.10% p.a. with monthly rests from the date of suit, till the date of realization.
9. To establish the sanction of loan, Ex.P1 sanction letter dated.13.04.2018 is produced. As per the said 6 O.S.No.623/2020 document, Rs.10,00,000/- has been granted to the defendant under the Small Loan Mudra under CGTMSE scheme. In the said document, signature of the defendant is appearing which shows that he has availed loan. For availment of loan, the defendant has executed On Demand Promissory Note, as per Ex.P2 which also contains the signature of the defendant and for having executed the Demand promissory note, Ex.P3 is produced which shows that he has availed loan under the said scheme to the tune of Rs.10 Lakhs and Ex.P4 also reflects the terms and conditions of the loan. Ex.P5 is also one of the loan document executed by the defendant at the time of availing the loan, agreeing to pay interest at the base rate. Ex.P6 is the letter of hypothecation, wherein the defendant has agreed to hypothecate the goods. Ex.P7 is the office copy of the legal notice for demanding the defendant to pay the loan amount. The same is sent through RPAD which is evidenced as per Ex.P8 and Ex.P9- postal receipts. Ex.P10 and Ex.P11 are returned envelope 7 O.S.No.623/2020 covers and Ex.P10(a) and 11(a) are contents of Ex.P10 and Ex.P11. In order to establish the transaction, Ex.P12 accounts statement is produced by the defendant which reflects the loan transaction of the defendant. From perusal of all these documents with oral evidence of plaintiff bank, it appears that the defendant who has availed the loan by executing the necessary loan documents which are before the court, has failed to repay the same and moreover, the version of the plaintiff bank is unchallenged one, since the defendant is remained exparte. Under these circumstances, the suit of the plaintiff bank is needs to be decreed and hence I proceed to pass the following:-
ORDER The suit of the plaintiff is decreed with costs.
The plaintiff bank is entitle to recover sum of Rs.11,51,855/- with interest @ 12.10% p.a. with monthly rests from the date of suit, till the date of payment.8 O.S.No.623/2020
The defendant is directed to pay the decree amount within 60 days from the date of Judgment, otherwise plaintiff bank is at liberty to recover the decree amount by enforcing this Judgment and decree.
Draw decree accordingly.
(Dictated to the Judgment-Writer, transcript thereof corrected, signed and then pronounced by me, in open Court, on this the 28th day of October, 2021.) (SATHISHA L.P.) XII ADDL.CITY CIVIL & SESSIONS JUDGE BENGALURU CITY ANNEXURE I. List of witnesses examined on behalf of:
(c) Plaintiff's side :
P.W.1: Sri..M.Rajesh
(d)Defendant's side : N I L
II. List of documents exhibited on behalf of :
(a)Plaintiff' side :
Ex.P.1: Sanction letter dated 13.04.2018
Ex.P.2: D.P.Note dated 13.04.2018
Ex.P.3: Letter dated 13.04.2018
9 O.S.No.623/2020
Ex.P.4: Instalment letter dated 13.04.2018
Ex.P.5: Letter of undertaking dated
13.04.2018
Ex.P.6: Letter of Hypothecation dated
13.04.2018
Ex.P.7: Office copy of legal notice dated
23.11.2019
Ex.P.8&P9 RPAD covers
Ex.P10 Returned RPAD covers
and P11
Ex.P10(a) Contents of Ex.P10 and P11 and 11(a) Ex.P12 Account statement
(b) Defendants side : NIL XII ADDL.CITY CIVIL & SESSIONS JUDGE, BENGALURU CITY.10 O.S.No.623/2020
Judgment pronounced in the open court. (Vide separate) ORDER The suit of the the plaintiff is decreed with costs.
The plaintiff bank is entitle to recover sum of Rs.11,51,855/- with interest @ 12.10% p.a. with monthly rests from the date of suit, till the date of payment.
The defendant is
directed to pay the decree
amount within 60 days from
11 O.S.No.623/2020
the date of Judgment,
otherwise plaintiff bank is at
liberty to recover the decree
amount by enforcing this
Judgment.
Draw decree accordingly.
28/10/2021
XII ACC&SJ, Bangalore