Delhi District Court
Icici Bank Ltd vs Inderjeet Yadav on 19 December, 2023
IN THE COURT OF SH. SANJAY SHARMA-II : DJ (COMMERCIAL-11)
(CENTRAL): TIS HAZARI COURTS, DELHI
CS (Comm.) No. 3240/2021
CNR No.: DLCT01-011428-2021
ICICI Bank Ltd.
E-3, Jhandewalan
New Delhi-110055
..... Plaintiff
VERSUS
Inderjeet Yadav
Prop.: M/s. I.K. Enterprises
S/o Sh. Ram Kripal Yadav
R/o RZQ-81, Nihal Vihar
Nangloi, Delhi-110041
Also at:
6255, Ground Floor
Shop No. 2, Plot No. 85
Block No. 6, Gali No. 1-2
Dev Nagar, Karol Bagh
New Delhi-110005
..... Defendant
Date of Institution : 09.09.2021
Date of Arguments : 19.12.2023
Date of Judgment : 19.12.2023
JUDGMENT
1. The plaintiff instituted a suit for a decree for recovery of Rs. 4,79,248/- alongwith pendente-lite and future interest @ 24% per annum against the defendant.
2. The case of the plaintiff is that on 16.09.2019, it had advanced business loan in the sum of Rs. 5,00,000/- to the defendant, vide loan A/c. No. UPDEL00040755981. The said loan amount alongwith interest @ 16.75% was repayable in 36 Equal Monthly Installments (EMIs) of Rs. 17,920/- each. The defendant executed loan documents in favour of the plaintiff.
CS (Comm.) No. 3240/2021 ICICI Bank Ltd. vs. Inderjeet Yadav Page No. 1 of 4
3. The case of the plaintiff is that the defendant paid an amount of Rs. 1,64,538/- by way of 9 EMIs. The defendant made last payment on 10.03.2021. The defendant committed default in payment of EMIs. The plaintiff recalled the loan, vide notice dated 24.05.2021. According to statement of account, the defendant was liable to pay an amount of Rs. 4,79,248/- as on 30.07.2021. The defendant failed to clear the loan account. Therefore, the plaintiff filed the suit for recovery.
4. The defendant alongwith his counsel appeared before the Court on 13.04.2023. Thereafter, the defendant did not appear and file 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
5. Statement of Account dated 30.07.2021 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 24.05.2021 Ex.PW1/8
9. Copy of Power of Attorney of Sh. Pankaj Jain Mark 'X'
10. Postal Receipt of notice dated 24.05.2021 Mark 'Y' ARGUMENTS:
6. I have heard arguments of Mr. Mohit Tyagi, Advocate for the plaintiff and examined the pleadings and documents.
CS (Comm.) No. 3240/2021 ICICI Bank Ltd. vs. Inderjeet Yadav Page No. 2 of 4
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. There is no reason to disbelieve his testimony and the documents placed on record.
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.
The plaintiff disbursed loan amount of Rs. 5,00,000/- to the defendant on 16.09.2019, vide disbursement memo Ex.PW1/4. The loan amount was repayable by way of 36 EMIs in the sum of Rs. 17,920/- each. The defendant paid 9 EMIs worth Rs. 1,64,538/-. The defendant failed to make payment of EMIs. The plaintiff recalled the loan, vide Notice dated 24.05.2021 Ex.PW1/8. According to statement of account Ex.PW1/5, an amount of Rs. 4,79,248/- was due as on 30.07.2021. An amount of Rs. 4,34,806/- was due as principal as on 30.07.2021.
9. Therefore, the suit of the plaintiff is decreed with costs and a decree in the sum of Rs. 4,34,806/- alongwith pendente-lite and future interest @ 6% per annum is passed in favour of the plaintiff and against the defendant. Decree sheet be drawn. File be consigned to record room. Digitally signed by SANJAY SANJAY SHARMA SHARMA Date:
2023.12.19 15:33:21 +0530 Announced in the open Court SANJAY SHARMA-II on this 19th December, 2023 DJ (Commercial-11) (Central) Tis Hazari Courts, Delhi CS (Comm.) No. 3240/2021 ICICI Bank Ltd. vs. Inderjeet Yadav Page No. 3 of 4 ICICI Bank Ltd. vs. Inderjeet Yadav CNR No.: DLCT01-011428-2021 CS (Comm.) No. 3240/2021 19.12.2023 Present : Mr. Mohit Tyagi, Advocate with Mr. Jitender Mehndiratta, AR of the plaintiff.
The defendant is present.
The Court has heard final arguments. Vide separate judgment, the suit of the plaintiff is decreed with costs and a decree in the sum of Rs. 4,34,806/- alongwith pendente-lite and future interest @ 6% per annum is passed in favour of the plaintiff and against the defendant. Decree sheet be drawn. File Digitally signed be consigned to record room. by SANJAY SHARMA SANJAY Date:
SHARMA 2023.12.19
15:33:30
+0530
Sanjay Sharma-II
DJ (Commercial-11)
Central, THC, Delhi
19.12.2023
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