Delhi District Court
Union Bank Of India (Ew Corporation ... vs Sh. Kishan Ji on 2 November, 2022
IN THE COURT OF DISTRICT JUDGE
(COMMERCIAL COURT-2)
SOUTH DISTRICT, SAKET COURTS: NEW DELHI
CS (COMM) 337/2021
Union Bank of India (EW Corporation Bank) ........Plaintiff
Having Head office
At Union Bank Bhwan,
Vidhan Bhawan Marg
Nariman Point, Mumbai-21
And its branch office
At Plot no. 35, Main IGNOU Road,
Neb Sarai, New Delhi -110068
Versus
Sh. Kishan Ji ........Defendant
S/o Sh. Lajja Ram
R/o RZF 767/50 B, Raj Nagar-II,
Near Gyan Sagar Public School,
Palam Colony, Palam Village,
South West Delhi -110045
Also at
Flat no. 33, 3rd Floor,
Block A-2, Pocket-8,
Sector-23B, Dwarka
New Delhi-110045
Date of institution : 04.10.2021
Date of submissions : 02.11.2022
Date of judgment : 02.11.2022
JUDGMENT
1. This is a suit for recovery of Rs. 4,90,665. In brief, facts Union Bank of India vs Kishan Ji Page no. 1 of 5 of the case are that the plaintiff bank is a body corporate constituted under the Banking Companies Act 1970 having its head office at Union Bank Bhawan, Vidhan Bhawan Marg, Nariman Point, Mumbai-110021 and one of its branch office at plot no. 35, Main IGNOU Road, Neb Sarai, New Delhi 110068.
2. The case of the plaintiff bank is that defendant Kishan Ji approached the plaintiff bank for granting him a vehicle loan for purchasing a new Renault Kwid, vide loan application form dated 17.04.2017. After considering the request of defendant and upon execution of documents i.e. Agreement for Term loan; letter of undertaking and declaration from the borrower; Agreement of hypothecation of vehicle; Demand Promissory Note; Take Delivery letter to DPN and acknowledgement of debt dated 23.12.2019 , plaintiff bank sanctioned vehicle loan of Rs. 3,24,000/- @ interest 9.40% per annum vide CSI dated 18.04.2017. It is averred that defendant accepted the terms and conditions of the loan facility and agreed to pay interest & other charges to the plaintiff bank on the principal amount of the said loan from time to time as per the terms and conditions set out in the said loan agreement.
3. Case of the plaintiff is that after disbursement of the loan amount, defendant failed to upkeep the financial discipline and the loan account of defendant was classified as Non-Performing Asset (NPA) on 31.12.2017. It is stated that Plaintiff bank called upon the defendant to pay the amount due to him under the said loan agreement vide demand notice dated 31.05.2018 but despite that neither defendant raised the objections nor liquidate the dues of the plaintiff bank. Hence, plaintiff bank preferred present suit for recovery of Rs. 4,90,665/-.
Union Bank of India vs Kishan Ji Page no. 2 of 5
4. Defendant failed to appear before this Court despite service. Since, there was no appearance on behalf of defendant despite publication in the newspaper "Navbharat Times" dated 05.06.2022, he was proceeded as exparte.
5. This Court has heard submissions advanced by Sh. Sachin Mighlani Ld. Counsels appearing for plaintiff and has perused the material on record.
6. To prove its case, plaintiff has examined Sh. Prabhakar Kumar Branch Manager, Union Bank of India as PW-1, who tendered in evidence his affidavit, Ex.PW1-1/A. He relied upon general power of attorney dated 09.09.2009 executed by Sh. A. Mohan Rao, General Manager and Sh. K. V. Raghava Kamath, Dy General Manager in his favour is Ex. P-1; Original Loan Application form dated 18.04.2017 of the defendant, Shri Kishan Ji is Ex. P-2; Original credit sanction intimation dated 18.04.2017 is Ex. P-3; Original agreement for term loan dated 18.04.2017 is Ex. P-4; Original letter of undertaking and declaration from the borrower dated 18.04.2017 is Ex. P-5; Original agreement for hypothecation of vehicle dated 18.04.2017 is Ex. P-6; Original demand promissory note dated 18.04.2017 is Ex. P-7; Original take demand Demand Promissory Note dated 18.04.2017 is Ex. P-8; Original acknowledgement of debt dated 23.12.2019 is Ex. P- 9; Copy of demand notice dated 31.05.2018 sent to defendant and signed by Sh. Kamal Kant Chhabra, advocate is Ex. P-10; Original postal receipt in respect of demand notice is Ex. P-11; True copy of statement of account for the period from 09.06.2017 to 27.08.2021 is Ex. P-12 and Certificate u/s 2A(b) of the Bankers' Book of Evidence Act is Ex. P-13. PW-1 further deposed that defendant has not paid any amount to the plaintiff bank after filing of the suit.
Union Bank of India vs Kishan Ji Page no. 3 of 5
7. On consideration of the submissions advanced and perusal of material on record, this Court finds that PW-1 has proved the averments of the plaint. Demand promissory note 18.04.2017 in the sum of Rs. 3,24,000/- Ex. P-7 supports the case of the plaintiff that plaintiff bank had given amount to the defendant which bears the signatures of defendant-Kishan Ji. As per statement of account w.e.f 09.06.2017 to 17.07.2018 Ex. P-12 shows that defendant is liable to pay a sum of Rs.4,90,665/- which includes the interest of Rs. 1,66,665/-.
8. This Court finds no reason to disbelieve testimony of PW-1 which has remained unrebutted. On appreciation of material on record, this Court is satisfied that plaintiff has proved it's claimed entitlement of Rs. 4,90,665/-.
9. Plaintiff has claimed interest @ 9.40% pa. Having regard to the lending rate of the bank in the commercial transaction, this Court is of the view that grant of interest @ 9.40% per annum pendente lite and future interest would serve the ends of restitutive justice therefore, plaintiff is held entitled to the interest @ 9.40% per annum from the date of filing of present suit till the realization of the entire amount.
10. The present suit was filed on 04.10.2021. Total number of 08 dates of hearing have taken place in this case. Plaintiff shall also be entitled to costs. In the circumstances noted above, pleader's fee and litigation expenses are assessed as Rs.8800/- and Court fee deposited by the plaintiff is Rs.7200/-. This Court finds that plaintiff is entitled to total costs of Rs.16,000/- (inclusive of Court fees.)
11. In the result, in view of the aforenoted finding, a decree is Union Bank of India vs Kishan Ji Page no. 4 of 5 passed in favour of the plaintiff and against the defendant in the sum of Rs. 4,90,665/- alongwith interest @ 9.40% per annum from the date of filing of present suit till its realization and costs of Rs.16,000/-. Decree sheet be drawn up accordingly. File be consigned to record room.
(dictated and announced
in the open Court
on 02.11.2022) (VINAY KUMAR KHANNA)
District Judge
(Commercial Court-02)
South Distt., Saket, New Delhi
Union Bank of India vs Kishan Ji Page no. 5 of 5