Bangalore District Court
Canara Bank vs Mr. Dileep. P on 10 April, 2023
KABC010144312022
IN THE COURT OF THE III ADDL.CITY CIVIL & SESSIONS JUDGE,
BENGALURU CITY (CCH No.25).
Dated: This the 10th day of April, 2023.
Present: Smt. SUNITHA S.G. B.Sc.,LL.B.,
VII Addl. City Civil & Sessions
Judge, Bengaluru.
(C/c. III Addl. City Civil and
Sessions Judge, Bengaluru)
O.S.NO. 3475/2022
Plaintiff Canara Bank,
(Erstwhile Syndicate Bank),
B.T.M. Layout Branch - II,
Bengaluru-560076.
Represented by its Senior Manager,
Sri.Muniya Naik,
S/o. Sri. Rama Naik,
Aged about 59 years.
By Sri.Rohit R Achar, Advocate.
V/s
Defendant Mr. Dileep. P,
S/o. Sri.M.G.Puttegowda,
Aged about 35 years,
R/a.No.276, Garvebhavipalya,
Hongasandra Road, Hosur Main Road,
Bengaluru-560068
Defendant - ExParte.
2
O.S.No.3475/2022
Date of Institution 30-05-2022
Nature of Suit Money Suit
Date of commencement of 20-03-2023
Evidence
Date of pronouncement of 10-04-2023
Judgment
Total Duration Years Months Days
01 01 20
JUDGMENT
The Plaintiff has filed this Suit for a Judgment and Decree against the Defendant for a total sum of Rs.7,79,000/-(Rupees Seven Lakhs Seventy-Nine Thousand Only) along with court costs, current and future interest on the suit claim at 9.75% p.a. compounded monthly from the date of suit till the date of realization of the entire suit claim and for the sale of hypothecated vehicle described in the Schedule to the plaint and appropriate the sale proceeds towards the suit claim due by the defendant and for any other relief or reliefs and incidental charges such as Typing and Misc. Expenses of Rs.1,000/- under order 20-A of the CPC, and for any other relief or reliefs as this Court may deem fit to grant in circumstances of the case.
3O.S.No.3475/2022 SCHEDULE MARUTHI VITARA BREZZA VDI, 2017 Model, bearing Registration No.KA 51 ML 1177, Engine No.D13A5529942 and Chassis No. MA3NYFB1SHK298701 belonging to the defendant.
2) The brief facts of the case Plaintiff has states that it is a Banking Company constituted under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970, having its head office at, No.112, J.C. Road, Bengaluru - 560002, and a Branch Office inter alia at BTM LAYOUT - II BRANCH, BENGALURU -560005, represented by its Senior Manager. The Erstwhile Syndicate Bank has been amalgamated with Canara Bank as per notification bearing No.CG-DL-E-04032020-21635 dated 04-03- 2020. Accordingly, the Erstwhile Syndicate Bank has been amalgamated with Canara Bank as such the present original suit has been filed by Canara Bank. The loan facility were granted to the defendant by the Erstwhile Syndicate Bank and the same is taken over by Canara Bank. The defendant approached the plaintiff Bank with q request for the grant of VEHICLE LOAN. The plaintiff accordingly on 31-10-2017 sanctioned a vehicle loan of Rs.8,90,000.00 to the defendant for the purchased of VITARA BREZZA Four- Wheeler Vehicle for his personal use. The defendant 4 O.S.No.3475/2022 towards the sanction/grant of the aforesaid loan of Rs.8,90,000.00 dated 31-10-2017 by the plaintiff, executed the following documents in favour of the plaintiff Bank.
i. Loan Application dated 23-10-2017. ii. Sanction Letter dated 31-10-2017. iii. Stamped Consideration Receipt dated 31-10-2017.
iv. Composite Hypothecation Agreement dated 31-10-2017.
Further submitted that, the defendant as per the sanction terms and the documents executed and agreed to repay the loan amount along with interest at 9.00% p.a compounded monthly. The defendant has also agreed to pay interest at varied rate as per the changes in the rate of interest. The defendant has also agreed to pay overdue interest of 2% in case of default in payment of loan amount as agreed. The defendant undertook to repay the loan amount within a period of equated monthly installments of Rs.14,326.34 each commencing from 30-11-2017 and last installment is due on 30-11-2024 and interest to be paid as and when due. The defendant by way of primary security hypothecated the schedule vehicle in favour of the plaintiff Bank. The defendant did not operate the vehicle loan account satisfactory and committed defaults in repayment of the installments.
5O.S.No.3475/2022 The defendant continued the default in operation the account in spite of repeated demands, personal approaches made by the plaintiff officials. The monthly installments were not paid as and when due along with interest. The plaintiff finally got issued a legal notice dated 12-05-2022 and recalled the entire amount due under the notice. The original and xerox copy of the legal notice is filed herewith for the kind perusal of the court. The defendant is due as on date of filing the above suit the following amounts; i. As per the Ledger Extract. Rs.7,66,010=47 Interest from 01-05-2022 till Rs.11,489=53 date of filing the suit.
ii. Legal Notice Charges Rs.1,500=00
------------------------------
Total Amount Rs.7,79,000=00
------------------------------- Further submitted that, the defendant is due as on date of filing the above suit a total sum of Rs.7,79,000/- (Rupees Seven Lakhs Seventy-Nine Thousand Only) and the suit is filed for the recovery of the said amount from the defendant. The plaintiff is entitled for the current and future interest on the suit claim at 9.75% p.a compounded monthly from the date of suit till date of realization of the suit claim at the agreed rate. The defendant being the borrower is personally liable to pay the aforesaid suit claim to the 6 O.S.No.3475/2022 plaintiff. The cause of action for the suit has arisen to the plaintiff on 31-10-2017 when the defendants availed the loan and executed the suit documents in favour of the plaintiff Bank, when the defendants failed to pay the loan amount as per terms of sanction in 84 equated monthly installments commencing from 30-11-2017 and last installment is due on 31-11-2024 and when the plaintiff got issued legal notice dated 12-05-2022 at BTM LAYOUT BRANCH - II, Bengaluru City, within the jurisdiction of the Court. The suit is is time in view of repayment period commencing from 31-11-2017 and last installments is due on 30-11- 2024 and last credit is dated 22-12-2020 which is within the repayment period.
3) Inspite of paper publication Defendant has remained absent. Hence the defendant was placed Ex-Parte.
4) The plaintiff-Bank examined its Manager as P.W.1 and got produced and marked 7 documents as Exs.P1 to Exs.P7 and closed its side evidence. As the Defendant was placed Ex-Parte, the Cross-Examination of PW.1 was taken as nil.
5) The Points that arise for consideration are as follows:
1. Whether the Plaintiff has proves that the Defendant is liable to pay Rs.7,79,000/-
with interest at the rate of 9.75% per 7 O.S.No.3475/2022 annum with current and future interest and for other relief's as prayed ?
2. What Order or Decree?
6) Heard Learned Advocate for Plaintiff.
7) The answers to the above Points are:
Point No.1 - Partly in the Affirmative; Point No.2 - As per Final Order, for the following:
REASONS
8) Point No.1: The Petitioner, in order to prove his case, stepped into the witness box and got examined as PW1 and he filed his Affidavit in lieu of oral evidence, wherein he reiterated the petition averments and in order to corroborate his testimony, got produced 7 documents as per Ex.P1 to Ex.P7.
Ex.P1, Loan application Form, Ex.P2, Sanction letter, Ex.P3, Consideration Receipt, Ex.P4, Deed of Hypothication along with Annexture-9, Ex.P5, Legal notice with postal receipt, ExP6, Bank statement along with certificate under Banker Books Evidence Act, Ex.P7, Paper publication.
8O.S.No.3475/2022
9) Upon consideration of the facts and documents it is seen that Ex.P1-Loan application Form, Ex.P2- Sanction letter, Ex.P3-Consideration Receipt, Ex.P4-Deed of Hypothication along with Annexture-9 evidences the sanction of loan to Defendant by the Plaintiff bank as contended.ExP6- Bank statement along with certificate under Banker Books Evidence Act and Ex.P5,-Legal notice with postal receipt evidences the default by the Defendant. As per EXP6 final payment was made on 22.12.2020, hence this suit is filed within period of limitation of 3 years. Further, the oral and documentary evidence adduced before this Court by the plaintiff is fully corroborating with each other & have remained unchallenged & there is nothing to disbelieve the same. By taking into consideration of the fact and circumstances of the case, concluded that Plaintiff is entitled for Rs.7,79,000/- (Rupees Seven Lakhs Seventy Nine Thousand only) together with future interest @ 9.75% p.a and for sale of hypothecated vehicle and to appropriate the sale proceeds towards the due amount in the interest of justice. Accordingly, Point No.1 is answered Partly in the Affirmative.
10) Point No. 2 : For the aforesaid reasons, this Court proceeds to pass the following:
9O.S.No.3475/2022 ORDER The Suit of the Plaintiff is hereby partly decreed.
Defendant is directed to pay, to the plaintiff-Bank sum of Rs.7,79,000/- (Rupees Seven Lakhs Seventy Nine Thousand only) together with future interest @ 9.75% p.a. from the date of Suit till its realization.
(Dictated to the Stenographer, transcription computerized, then corrected and pronounced by me in Open Court on this the 10th day of April, 2023) (SUNITHA S.G.) III Addl. City Civil & Sessions Judge, Bengaluru.
ANNEXURE List of witnesses examined for the plaintiff:
P.W.1 - Sri. Ravi Kumar List of documents exhibited for the plaintiff:
Ex.P1 - Loan application From. Ex.P2 - Sanction letter.
Exs.P3- Consideration Receipt. Ex.P4 - Deed of Hypothication along with Aneexture-
9. 10
O.S.No.3475/2022 Ex.P5 - Legal notice with postal receipt. Ex.P6 - Bank statement along with certificate under Banker Books Evidence Act.
Ex.P7 - Paper publication List of witnesses examined and documents exhibited for the Defendants:
- Nil --
(SUNITHA S.G) III Addl. City Civil & Sessions Judge, Bengaluru.
11 O.S.No.3475/2022