Bangalore District Court
Canara Bank vs Sri.Suresh Kumar on 30 January, 2023
KABC010070042020
[C.R.P. 67] Govt. of Karnataka
Form No.9 (Civil)
Title Sheet for
Judgment in Suits
(R.P.91)
IN THE COURT OF THE XIV ADDL. CITY CIVIL JUDGE
AT BANGALORE [CCH.No.28]
Present: Sri. JERALD RUDOLPH MENDONCA.,
B.A.L. LL.B.,
Dated this the 30th day of January, 2023
Original Suit No.1838/2020
Plaintiff:- Canara Bank,
Cox Town Branch,
Bangalore-560 005
R/by their Senior Manager,
Smt.Mary Shama Thomas
(Pleader By Sri.S.N.Rama Prasad)
V/s.
Defendant:- Sri.Suresh Kumar,
S/o Gopinathan,
A/a 41 years,
No.16/12, M.E.S.Compound,
SNT Street, Opp: Philips Building,
M.V.Garden Ulsoor, HAL 2nd Stage,
Bangalore-560 008
Deft - Exparte
Date of Institution of the suit 07-03-2020
2 O.S.No.1838/2020
Nature of the (Suit or pro-note, suit for
declaration and possession, suit for Money Suit
injunction, etc.)
Date of the commencement of 09-12-2022
recording of the Evidence
Date on which the Judgment was 30-01-2023
pronounced
Year/s Month/s Days
Total duration 02 10 23
JUDGMENT
This is a Suit filed by the Plaintiff for recovery of Rs.5,22,462/- with interest at 9.65% per annum from the date of suit till the date of realisation.
2. The case of the plaintiff in brief are as under :-
(i) The plaintiff is a banking Company. The defendant has approached the plaintiff bank on 21.03.2016, for Credit facility under Canara MSE Pragathi scheme for purchasing Car and has requested loan of Rs.6,94,000/-. The plaintiff bank considering the request of the defendant sanctioned a loan of Rs.6,94,000/- with interest at the rate of 10.20% per annum compounded monthly. The defendant has executed necessary loan documents in favour of the plaintiff's bank. 3 O.S.No.1838/2020
(ii). The plaintiff has stated that the defendant has agreed to repay the liability including interest within 60 months and also has agreed to pay penal interest @ 2% above. After giving credits to the amount received from the defendant loan account he is found due in a sum of Rs.5,21,823/- as on 4.2.2020. The plaintiff has claimed Rs.4,139/- being the interest from 5.2.2020 till the date of the suit and Rs.500/- towards the typing and miscellaneous charges in all a sum of Rs.5,22,462/-. Therefore, the plaintiff has prayed to decree the suit.
3. Inspite of service of suit summons the defendant has not appeared before this Court and therefore he was placed ex-parte.
4. The Manager of the Plaintiff Bank got examined himself as P.W.1 and got marked documents as per Ex.P- 1 to P-11 and closed its side.
5. Heard the Learned Counsel for the plaintiff.
6. The points that arise for my consideration are :-
1. Whether the Plaintiff proves that the defendant has availed car loan of Rs.6,94,000/-by executing necessary loan documents?4 O.S.No.1838/2020
2. Whether the Plaintiff proves that the defendant is due to pay the outstanding amount of Rs.5,22,562-00?
3. Whether the plaintiff is entitled for pendente-
lite and future interest? If yes, at what rate?
4. What order or decree?
7. The answers of this Court to the above points are as follows :-
Point No.1 : In the Affirmative, Point No.2 : The defendant is due a sum of Rs.5,22,462/- as on the date of the suit.
Point No.3 : The plaintiff is entitled for interest at the rate of 9.65% p.a., compounded half yearly on Rs.5,21,823/-
Point No.4 : As per the final order for the following :-
REASONS
8. Point Nos.1 & 2 :-
The Manager of the Plaintiff bank who got examined himself as P.W.1 has reiterated the plaint averments. Ex.P-1 Authorisation letter, Ex.P-2 Application form for credit facilities executed by the defendant in favour of bank on 01.01.2014, Ex.P-3 Deed of hypothication executed by the defendant in favour of the plaintiff bank, 5 O.S.No.1838/2020 Ex.P-4 Letter of undertaking, Ex.P-5 Sanction memorandum, Ex.P-6 Particulars of the vehicle hypothicated, Ex.P-7 Specimen Signature with photographs, Ex.P-8 Letter of revival dt: 18-03-2019, Ex.P-9 Office copy of the legal notice, Ex.P-10 Postal acknowledgment and postal receipt, Ex.P-11 Statement of account with certificate under bankers book evidence Act.
9. The case of the plaintiff is supported by the documents. Ex.P. 2 is the application form for credit facilities, Ex.P-3 Deed of hypothication executed by the defendant in favour of the plaintiff bank, Ex.P-5 Sanction memorandum, and Ex.P-6 Particulars of the vehicle hypothicated shows that the defendant has approached the plaintiff bank for the car loan of Rs.6,94,000/- and that the defendant has agreed to repay the loan in 60 EMIs of Rs.15,000/- each. The rate of interest agreed is 10.20% per annum compounded monthly, Ex.P-8 Letter of revival dt: 18.3.2019, show that the defendant has acknowledged the debt and therefore this document save the period of limitation, Ex.P-11 Statement of account with certificate under bankers book evidence Act., shows that a sum of Rs.5,21,823/- is over due as on 6 O.S.No.1838/2020 4.2.2020. The plaintiff has claimed a sum of Rs.4,139/- which is the interest from 5.2.2020 till the date of filing of the suit and a sum of Rs.500/- towards the typing and miscellaneous charges which is reasonable. Therefore the defendant is due a sum of Rs.5,22,462/- as on the date of the suit. The defendant has not appeared inspite of service of summons. There is no ground to disbelieve the case of the Plaintiff. Therefore, this Court holds that the Plaintiff has proved that the defendant has availed loan of Rs.6,94,000/- in the year 2016 and agreeing to repay the same with interest at 10.20% per annum and a sum of Rs.5,22,462-00 is due. Hence, Point Nos.1 and 2 are answered as above.
10. Point No.3:-The plaintiff has claimed interest at the rate of 9.65% per annum. The loan availed is a car loan. The plaintiff had agreed to repay the loan with interest @ 10.20% per annum. Therefore, granting interest @ 9.65% per annum compounded half yearly would be reasonable. Therefore this Court holds that the Plaintiff is entitled for interest at 9.65% per annum compounded half yearly till the date of realization. Hence the Point No.3 is answered as above.
7 O.S.No.1838/2020
11. Point No.4:- In the result, this Court proceeds to pass the following :-
ORDER The Suit of the Plaintiff is decreed with costs as follows.
The Plaintiff is entitled to recover from the defendant a sum of Rs.5,22,462-00 with interest at 9.65% per annum compounded half yearly on Rs.5,21,823/- till the date of realization.
Draw up decree accordingly. [Dictated to the judgment writer directly, typed by him, then corrected, signed and then pronounced by me in the open Court on this the 30th day of January, 2023.] [ J.R.MENDONCA ], XIV Addl. City Civil Judge Bangalore.
ANNEXURE
1. List of witnesses examined for the Plaintiff:-
P.W.1 : Sri.Edwin C Antony
2. List of documents marked :-
Ex.P 1 Authorisation letter
Ex.P 2 Application form for credit facilities
8 O.S.No.1838/2020
executed by the defendant No.1 and 2 in favour of bank on 01.01.2014 Ex.P 3 Deed of hypothication executed by the defendant in favour of the plaintiff bank, Ex.P 4 Letter of undertaking, Ex.P 5 Sanction memorandum Ex.P 6 Particulars of the vehicle hypothicated Ex.P 7 Specimen Signature with photographs Ex.P 8 Letter of revival dt: 18-03-2019, Ex.P 9 Office copy of the legal notice, Ex.P 10 Postal acknowledgment and postal receipt, Ex.P 11 Statement of account with certificate under bankers book evidence Act.
3. List of witnesses examined for the defendant :-
None.
4. List of documents marked for the defendant :-
Nil.
[ J.R.Mendonca ], XIV Addl. City Civil Judge Bangalore.9 O.S.No.1838/2020