Bangalore District Court
Union Bank Of India vs M/S Curo Pharma on 3 January, 2026
KABC170018672025
IN THE COURT OF LXXXVII ADDL.CITY CIVIL AND
SESSIONS JUDGE, (EXCLUSIVELY DEDICATED
COMMERCIAL COURT) AT BENGALURU (CCH-88)
DATED ON THIS 03RD DAY OF JANUARY, 2026
PRESENT: SRI.C.D.KAROSHI, B.A., LL.M.,
LXXXVII ADDL. CITY CIVIL & SESSIONS
JUDGE, BENGALURU.
COM.O.S.810/2025
PLAINTIFF:- UNION BANK OF INDIA,
Rajarajeshwari Nagar Branch
Represented by its Senior Manager,
Mr. Amit Soni,
S/o Hansraj Soni,
Aged about 37 years,
(By Sri. Rohit R. Achar, Advocate)
- Vs -
DEFENDANT:- M/S CURO PHARMA
Represented by its Proprietor
Mr. Punitha
S/o Sri Chandrashekar,
Door No.17, Ground Floor
Sheshadripuram, 3rd Cross, Shetty
Layout, 7th Block, Bengaluru-560 020.
(Exparte)
2 COM.O.S.810/2025
Date of Institution of the suit 10.06.2025
Nature of the suit (suit on
pronote, suit for declaration &
Recovery of Money
Possession, Suit for injunction
etc.)
Date of commencement of
25.11.2025
recording of evidence
Date on which judgment was
03.01.2026
pronounced
Total Duration Year/s Month/s Day/s
00 06 24
(C.D.KAROSHI)
LXXXVII ADDL. CITY CIVIL & SESSIONS JUDGE
(EXCLUSIVELY DEDICATED COMMERCIAL COURT)
BENGALURU.
JUDGMENT
This is a suit filed by the plaintiff bank against the defendant for recovery of a sum of Rs.9,53,000/- along with interest @14% p.a with monthly rests from the date of suit till its realization and costs of the suit and also for the sale of hypothecated assets and to appropriate the sale proceeds towards the suit claim and also Misc. expenses of Rs.1,000/-.
3 COM.O.S.810/2025
2. The brief facts are as under:-
The plaintiff bank is a banking company constituted by the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 having its central office at Mumbai and branches at Bengaluru. The defendant is a borrower had approached the plaintiff-Bank with a request to sanction of term loan facility for a sum of Rs.9,50,000/- for his pharmaceutical business, accordingly on 04.03.2024 sanctioned the said loan, the defendant agreed to repay the loan with interest at the rate of 12.00% p.a. compounded monthly and also agreed to pay over due interest of 2% in case of default in payment of loan amount. The defendant has executed necessary loan documents like MSME term loan application, DP Note, Hypothecation agreement, Letter of continuity, After obtaining the loan, the defendant failed to repay the same and thereby became defaulter. Thereafter, got issued legal notice dated 18.10.2024 calling upon him to pay the entire outstanding dues together with interest. Despite repeated requests and 4 COM.O.S.810/2025 demands the defendant has neither complied it nor replied.
Therefore after complying the provisions of Sec.12A of the Commercial Courts Act, plaintiff bank has filed the suit.
3. Records reveal that, summons issued by this court returned as insufficient address. Thereafter, the plaintiff filed an IA for paper publication which was allowed and on the basis of paper publication taken in 'Hosa Digantha' dated 19.09.2025 'Kannada' daily newspaper, the defendant is held to be duly served and placed ex parte.
4. In order to prove its case, the Senior Branch Manager of plaintiff bank filed affidavit in lieu of oral evidence, examined himself as PW-1 and got marked the documents at Ex.P.1 to Ex.P.9.
5. Heard and perused the material on record.
6. Points that arise for my consideration are:-
1) Whether the plaintiff bank is entitled for the claim amount of Rs.9,53,000/-
along with interest as prayed in the plaint?
2) What order or decree?
5 COM.O.S.810/2025
7. My answers to the above points are as under:-
POINT NO.1:- Partly in the Affirmative. POINT NO.2:- As per final orders for the following:
REASONS
8. POINT NO.1:- The plaintiff bank has filed above numbered suit against the defendant for recovery of money along with interest with costs of the suit stating that, though the defendant got sanctioned term loan facility of Rs.9,50,000/- for the purpose of doing pharmaceuticals business agreeing to repay the same with interest at the rate of 12.00% per annum compounded monthly and overdue interest @2% per annum in case of default in payment of loan and defendant has executed necessary loan documents, thereafter, he became defaulter, accordingly the plaintiff bank has converted the said loan as NPA, got issued legal notice but defendant did not turn up, therefore after compliance of Sec.12A of Commercial Courts Act has filed above suit.
6 COM.O.S.810/2025
9. In order to prove its case, the Senior Manager of the plaintiff bank filed affidavit in lieu of oral evidence by reiterating the entire averments of the plaint as referred supra, examined as PW.1 and got marked the documents at Ex.P.1 to Ex.P.9. On perusal of Ex.P.1 reveals that plaintiff initiated pre-institution mediation proceedings before DLSA in PIM No.2644/2024, Ex.P.2 is the Loan application dated 21.02.2024, which shows that the defendant has approached the plaintiff bank for sanction of loan. Ex.P3 is the on demand promissory note. Ex.P4 is the hypothecation agreement. Ex.P5 is the Letter of undertaking. Ex.P6 is the letter of continuity. Ex.P7 is the office copy of the legal notice dated 18.10.2024. Ex.P8 is the account extract along with certificate under provision of BBE Act. Ex.P9 is the paper publication.
10. It may be noted that, on perusal of Ex.P.3 to P6 i.e., Loan application, demand promissory note, hypothecation agreement, letter of undertaking, letter of continuity reveals that as per the loan application given by 7 COM.O.S.810/2025 the Defendant the Bank has granted term loan of Rs.9,50,000/-. In turn the Defendant has executed Ex.P3 to Ex.P5 Demand Promissory Note, Hypothecation and Letter of Undertaking, but it appears that the defendant has failed to repay the outstanding dues, accordingly plaintiff got issued legal notice dated 18.10.2024 as per Ex.P7, but the Defendnat did not turn up, therefore after complying Sec.12A of Commercial Courts Act under Ex.P.1 plaintiff bank has filed the suit before this court for recovery of outstanding amount as shown in Ex.P.8 statement of account with interest.
11. That apart summons issued by this court returned as no such office found in the address, accordingly the Plaintiff got served the summons by way of paper publication, but the Defendant remained exparte. So the entire claim of the plaintiff remained unchallenged and unrebutted. However, having regard to the facts and circumstances of case, plaintiff bank is not entitled for the relief of direction to sale of hypothecated assets. The suit is 8 COM.O.S.810/2025 in time. Therefore, suit of the Plaintiff deserves to be Partly Decreed with cost along pendente-lite and future interest @ 12% p.a.. Hence I answer Point No.1 Partly in the Affirmative..
12. POINT NO.2:- For the foregoing reasons, I proceed to pass the following:-
ORDER The suit of the plaintiff bank is Partly Decreed with costs.
The defendant is directed to pay the claim amount of Rs.9,53,000/- (Rupees Nine Lakhs Fifty Three Thousand Only) within three months from the date of decree.
The plaintiff bank is also entitled for pendente lite and future interest at 12% p.a till its realization.
Draw decree accordingly.
The copy of this Judgment shall be made available to both the applicants through electronic mail or otherwise as required under provisions of Order XX Rule 1 of the Code of Civil Procedure. [Dictated to the Stenographer directly on computer, corrected by me and then pronounced in the Open Court on 03rd day of January, 2026].
(C.D.KAROSHI) LXXXVII ADDL. CITY CIVIL & SESSIONS JUDGE (EXCLUSIVELY DEDICATED COMMERCIAL COURT) BENGALURU.9 COM.O.S.810/2025
ANNEXURE LIST OF WITNESSES EXAMINED ON BEHALF OF THE PLAINTIFF:-
P.W.1 Mr. Amit Soni LIST OF DOCUMENTS EXHIBITED ON BEHALF OF THE PLAINTIFF:-
Ex.P.1 PIM Report No.2644/2024. Ex.P.2 Loan Application dated 21.02.2024. Ex.P.3 Demand promissory note Ex.P.4 Hypothecation agreement. Ex.P.5 Letter of undertaking Ex.P.6 Letter of continuity. Ex.P.7 Office copy of legal notice dated 18.10.2024 Ex.P.8 Account extract along with certificate. Ex.P.9 Paper publication.
LIST OF WITNESSES EXAMINED ON BEHALF OF THE DEFENDANT:-
NIL LIST OF DOCUMENTS EXHIBITED ON BEHALF OF THE DEFENDANT:-
NIL (C.D.KAROSHI) LXXXVII ADDL. CITY CIVIL & SESSIONS JUDGE (EXCLUSIVELY DEDICATED COMMERCIAL COURT) BENGALURU.