Delhi District Court
Icici Bank Ltd vs Ankit Bajaj on 16 July, 2024
IN THE COURT OF SH. SANJAY SHARMA-II : DJ (COMMERCIAL-11)
(CENTRAL): TIS HAZARI COURTS, DELHI
CS (Comm.) No. 4266/2021
CNR No.: DLCT01-014117-2021
ICICI Bank Ltd.
E-3, Jhandewalan
New Delhi-110055
..... Plaintiff
VERSUS
Ankit Bajaj
S/o Sh. Raj Kumar
R/o H. No. WZ-26/1
1st Floor, New Sahibpura
Tilak Nagar, MBS Nagar
Delhi-110018
Also at:
C/o NTT Data Information Processing Services Pvt. Ltd.
Designation: Senior Accountant
Plot No. 7, Tower-F
Sector-144 SEZ
Near Oxygen Camp
Noida, Uttar Pradesh-201 306
..... Defendant
Date of Institution : 23.10.2021
Date of Arguments : 15.07.2024
Date of Judgment : 16.07.2024
JUDGMENT
1. The plaintiff instituted a suit for a decree for recovery of Rs. 3,21,259/- alongwith pendente-lite and future interest @ 24% per annum against the defendant.
CS (Comm.) No. 4266/2021 ICICI Bank Ltd. vs. Ankit Bajaj Page No. 1 of 5
2. The case of the plaintiff is that on 29.11.2017, the plaintiff applied for personal loan in the sum of Rs. 5,00,000/-. On 30.11.2017, the plaintiff advanced personal loan in the sum of Rs. 5,00,000/- to the defendant, vide loan A/c. No. LPDEL00036776894. The said loan amount alongwith interest @ 13.50% per annum was repayable in 48 Equal Monthly Installments (EMIs) of Rs. 13,564/- each. The defendant executed loan documents in favour of the plaintiff.
3. The case of the plaintiff is that the defendant paid an amount of Rs. 3,66,735/- by way of 27 EMIs. The defendant committed default in payment of 12 EMIs. On 05.03.2020, the defendant made last payment of Rs. 13,564/-. The plaintiff recalled the loan, vide notice dated 24.03.2021. According to statement of account, the defendant was liable to pay an amount of Rs. 3,21,259/- as on 27.08.2021. The defendant failed to clear the loan account. Therefore, the plaintiff filed the suit for recovery.
4. The defendant could not be served with the summons of the suit through ordinary process. Thereafter, the defendant was served by way of publication in 'Amar Ujala' dated 04.05.2024. However, the defendant neither appeared nor filed written statement.
5. The plaintiff examined its Authorized Representative Mr. Jitender Mehndiratta as PW-1. He deposed, on strength of affidavit Ex.PW1/A. He relied on documents, as under:
Sl No. Description Exhibit
1. Copy of Power of Attorney Ex.PW1/1
2. Preliminary Credit Facility Application Form Ex.PW1/2
3. Credit Facility Application Form Ex.PW1/3
4. Disbursement Memo Ex.PW1/4
CS (Comm.) No. 4266/2021 ICICI Bank Ltd. vs. Ankit Bajaj Page No. 2 of 5
5. Statement of Account dated 27.08.2021 Ex.PW1/5
6. Certificate under Section 65B of 'The Indian Ex.PW1/6 Evidence Act, 1872'
7. Certificate under Section 2A of 'The Banker's Ex.PW1/7 Book of Evidence Act, 1891'
8. Loan Recall Notice dated 24.03.2021 Ex.PW1/8
9. Copy of Power of Attorney of previous AR Sh. Mark 'X' Pankaj Jain
10. Postal Receipt Mark 'Y' ARGUMENTS:
6. I have heard arguments of Mr. Kush Kumar, Ld. Counsel for the plaintiff and examined the pleadings and documents.
7. PW-1 Jitender Mehndiratta, Authorized Representative of the plaintiff deposed, on strength of affidavit Ex.PW1/A. He testified the facts stated in the plaint. He has filed loan documents and statement of account.
8. From evidence of PW-1 Jitender Mehndiratta and documentary evidence, it is proved that the defendant applied for loan, vide Preliminary Credit Facility Application Form Ex.PW1/2. On 29.11.2017, the plaintiff sanctioned the personal loan in the sum of Rs. 5,00,000/-, vide Credit Facility Application Form Ex.PW1/3. On 30.11.2017, the plaintiff disbursed loan amount of Rs. 4,94,100/- to the defendant, after deducting process fee, vide Disbursement Memo Ex.PW1/4. The loan amount alongwith interest @ 13.50% per annum was repayable by way of 48 EMIs in the sum of Rs. 13,564/- each. The defendant paid 27 EMIs worth Rs. 3,66,735/-. The defendant failed to make payment of 12 EMIs. The plaintiff recalled the loan, vide Notice dated 24.03.2021 Ex.PW1/8.
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9. According to statement of account Ex.PW1/5, the defendant paid an amount of Rs. 3,66,735/- comprising Rs.
2,47,594/- as principal and Rs. 1,19,141/- as interest. After deducting the principal amount of Rs. 2,47,594/- from loan amount of Rs. 5,00,000/-, an amount of Rs. 2,52,406/- was due as principal as on 27.08.2021. There is no reason to disbelieve his testimony and the documents placed on record. In view of the nature of the loan and current bank rates, interest @ 6% per annum on the balance amount will be just and reasonable. However, the plaintiff will not be entitled to pendente-lite interest on account of non-compliance of repeated directions of the Court, as noted vide order dated 21.02.2023, 22.05.2023, 27.09.2023 and 21.12.2023.
CONCLUSION Therefore, the suit of the plaintiff is decreed with costs and a decree in the sum of Rs. 2,52,406/- alongwith interest @ 6% per annum from the date of judgment till realization is passed in favour of the plaintiff and against the defendant. Decree sheet be drawn. File be consigned to record Digitally signed room. by SANJAY SHARMA SANJAY Date:
SHARMA 2024.07.18
12:50:00
+0530
Announced in the open Court SANJAY SHARMA-II
on this 16th July, 2024 DJ (Commercial-11) (Central)
Tis Hazari Courts, Delhi
CS (Comm.) No. 4266/2021 ICICI Bank Ltd. vs. Ankit Bajaj Page No. 4 of 5
ICICI Bank Ltd. vs. Ankit Bajaj
CNR No.: DLCT01-014117-2021
CS (Comm.) No. 4266/2021
16.07.2024
Present : Mr. Kush Kumar, Ld. Counsel with Mr. Jitender
Mehndiratta, AR for the plaintiff.
Vide separate judgment, the suit of the plaintiff is decreed with costs and a decree in the sum of Rs. 2,52,406/- alongwith interest @ 6% per annum from the date of judgment till realization is passed in favour of the plaintiff and against the defendant. Decree sheet be drawn. File be consigned to record room. File be consigned to record room.
Digitally signed by SANJAY SHARMA SANJAY Date:
SHARMA 2024.07.18
12:50:10
+0530
Sanjay Sharma-II
DJ (Commercial-11)
Central, THC, Delhi
16.07.2024
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