Delhi District Court
State Bank Of India vs Sh. Ashok Kumar on 7 February, 2017
IN THE COURT OF SH. ANKIT SINGLA:CIVIL JUDGE:03:CENTRAL
TIS HAZARI COURTS : DELHI
CS No. 128/2015
(600429/2016)
State Bank of India
A corporation constituted under the
State Bank of India Act, 1955, Having its
central office/corporate centre at State Bank Bhawan,
Madam Cama Road, Mumbai 400024, One of its
local head office at 11, Sansad Marg, New Delhi110 001
and having branches amongst other at 14/10988,
Doriwalan, East Park Road, New Delhi 110 005.
.......... Plaintiff
VERSUS
Sh. Ashok Kumar
S/o Sh. Notan Das,
75/12, Railway Colony,
Subzi Mandi, Delhi 110 007.
Also at:
As Employee No. CA/85 (06670510),
Department of Elect/C,
O/o The Deputy Chief Engineer (Construction),
Northern Railway,
Shakur Basit, New Delhi 110 056.
.........Defendant
SUIT FOR RECOVERY OF RS.2,36,215/
Date of institution : 15.10.2015
Date of reserving of orders : 21.12.2016
Date of decision : 07.02.2017
CS No. 128/2015 State Bank of India Vs. Ashok Kumar 1/5
J U D G M E N T
1.Vide this judgment, I shall dispose off the present suit filed by the plaintiff against the defendant Ashok Kumar for recovery of Rs. 2,36,215/ alongwith interest and cost.
2. In brief the facts of the case as averred by the plaintiff in his plaint are that defendant that approached the plaintiff bank for grant of personal loan for his personal requirement. It is stated that defendant was granted loan of Rs. 2,50,000/ on 10.03.12. It is stated that at the time of sanctioning of loan to the defendant, defendant executed several documents in favour of the plaintiff. It is stated that as per loan agreement the defendant was given option to pay loan either in 40 equated monthly installments of Rs. 7,022/ each or 60 equated monthly installments of Rs. 6,013/ each. It is stated that defendant failed to abide by the terms of loan agreement and did not paid the entire installments. It is stated that last payment received from the defendant was of Rs. 2,500/ on 28.02.14. It is stated that thereafter defendant approached the plaintiff bank and given written request on 17.09.14, 30.10.14 and 27.05.15 thereby acknowledging his liability. It is stated that since defendant failed to abide by the terms of loan, the entire loan was recalled and his account was declared as NPA. In such circumstances, plaintiff wants that defendant be directed to pay the outstanding amount of Rs. 2,36,215/.
3. The defendant was served by way of publication in newspaper Veer Arjun on 24.06.2016 but, neither he appeared nor filed written statement, therefore, vide order dated 06.08.2016, he was proceeded ex parte.
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3. Exparte PE was led by plaintiff and during evidence, the plaintiff examined AR of the plaintiff Sh. Raghubir Singh, Branch Manager at State Bank of India as PW1 by way of affidavit and he has relied upon the following documents: Ex. PW1/1 Copy of gazette notification dated 27.03.1987 Ex. PW1/2 Original Loan Application Form Ex. PW1/3 Original arrangement letter Ex. PW1/4 Original personal loan agreement Ex. PW1/5 Original demand promissory note Ex. PW1/6 Original consent clause letter Ex. PW1/7 Original irrevocable standing instruction letter Ex. PW1/8 Office copy of letter dated 03.10.2014 Ex. PW1/9 Office copy of letter dated 16.12.2014 Ex. PW1/10 Office copy of letter dated 12.08.2014 Ex. PW1/11 Office copy of letter dated 29.09.2014 Ex. PW1/12 Office copy of letter dated 01.08.2015 Ex. PW1/13 Original letter dated 17.09.2014 Ex. PW1/14 Original letter dated 30.10.2014 CS No. 128/2015 State Bank of India Vs. Ashok Kumar 3/5 Ex. PW1/15 Original letter dated 27.05.2015 Ex. PW1/16 Original revival letter dated 17.09.2014 Ex. PW1/17 Office copy of letter dated 22.12.2014 Ex. PW1/18 Office copy of letter dated 23.01.2015 Ex. PW1/19 Office copy of letter dated 26.02.2015 Ex. PW1/20 Office copy of letter dated 09.03.2015 Ex. PW1/21 Office copy of legal demand notice dated 31.12.2014 Ex. PW1/22 Statement of account along with certificate under Banker's Book Evidence Act Ex. PW1/23 Calculation sheet for the period from 01.04.2014 to 13.10.2015 of the accrued interest Mark A Duly verified photocopy of service book of the defendant.
4. Exparte final arguments were addressed by the counsel for the plaintiff.
5. PW1 through his unrebutted testimony has proved all the averments made in the plant. His testimony is corroborated by the documents available on record. His testimony proves that defendant is liable to prove to the plaintiff bank the sum of Rs. 2,36,215/. Hence, the suit of the plaintiff is decreed for the sum of Rs. 2,36,215/.
6. The plaintiff has further prayed for pendent lite and future CS No. 128/2015 State Bank of India Vs. Ashok Kumar 4/5 interest @ 15.50% p. a. on the decreetal amount. As far as rate of interest during pendency of suit and for future period, the same can be granted only according to the provision of section 34 CPC. As per section 34 CPC, the rate of pendent lite and future interest can not exceed 6% except agreement to the contrary. As per section 34 CPC even if, there is such agreement regarding rate of interest, same is subject to judicial discretion of the court. The perusal of agreement between plaintiff and defendant no. 1 shows that agreed rate of interest between the parties was 15.50%. Considering, the prevalent bank rate of interest for obtaining personal loan, this court is of the view that interest @ 15.50% is highly excessive, therefore, can not be granted. In the considered opinion of this court, the rate of interest @ 9% would be sufficient to meet the end of justice. Accordingly, plaintiff is granted interest @ 9% p. a. on the decreetal amount from the date of filing of the suit till realization.
RELIEF
7. In view of the aforesaid discussion, the suit of the plaintiff is decreed for sum of Rs. 2,36,215/ along with interest @ 9% p. a. on the decreetal amount from the date of filing of the suit till realization. Decree sheet be prepared accordingly. File be consigned to record room after necessary compliance.
Announced in the open court today i. e. on 07.02.2017.
(ANKIT SINGLA) CIVIL JUDGE03C/THC DELHI /07.02.2017 CS No. 128/2015 State Bank of India Vs. Ashok Kumar 5/5