Delhi District Court
State Bank Of India vs . Arun Kumar on 10 December, 2019
State Bank of India Vs. Arun Kumar
CS (Comm) No. 44/18
IN THE COURT OF SH. TARUN YOGESH
ADDL. DISTRICT JUDGE:03:
SOUTH WEST DISTRICT: DWARKA COURTS:NEW DELHI
Civil Suit (Comm) No. 44/18
CNR No. DLSW010198532018
In the matter of
STATE BANK OF INDIA
A Body Corporate Constituted under
the State Bank of India Act, 1955 having
its Head Office/Central Office/ Corporate
Office at State Bank Bhavan, Madam
Kama Road, Mumbai440024, one of
its Local Head Office at 11, Sansad
Marg, New Delhi01 and having Branch
at Shakti Nagar, Delhi and RACPC at
11, Sansad Marg, New Delhi01.
Through its Chief Manager Shri Vijay Kumar ... Plaintiff
Versus
ARUN KUMAR
S/o Mr. Vijay Kumar
R/o RZ26, Jain Colony,
Part3, Uttam Nagar,
New Delhi110059. ... Defendant
Date of Institution of suit : 03.12.2018
Date on which judgment pronounced : 10.12.2019
SUMMARY SUIT UNDER ORDER XXXVII CPC FOR
RECOVERY OF RS. 5,43,192/
Page No. 1 of 4 DOD: 10.12.2019
State Bank of India Vs. Arun Kumar
CS (Comm) No. 44/18
:JUDGMENT:
1.Plaintiff State Bank of India, a body corporate constituted under the State Bank of India Act,1955 has filed suit under Order XXXVII CPC for recovery of Rs.5,43,192/ through Shri Vijay Kumar, Chief Manager, RACPC, 11 Sansad Marg, New Delhi.
2. As averred by plaintiff, defendant Shri Arun Kumar approached the bank seeking financial facility for purchasing Swift VDI (NM) colour Saloon under the SBI Car Loan Scheme and submitted his identification card, residence and income proof etc. with the bank for availing the facility.
3. His proposal was accepted considering his requirement financial feasibility and viability and Rs.5,80,000/ was disbursed on 17.05.2015 for purchasing the car upon his assurance to return the loan amount with interest by way of 84 equated monthly installments of Rs.9,719/ each.
4. Loan documents creating various securities in favour of the bank were executed by defendant for repayment of loan facility with applicable expenses and interest and defendant agreed to pay interest upon the outstanding loan amount @3.75% above base rate subject to rise and fall from time to time as per banking guidelines along with penal interest over the agreed interest with monthly rest to be charged for the outstanding / overdue amount.
5. It is averred that defendant having availed loan facility after opening Term Loan Account No. 34916735478 has committed defaults in Page No. 2 of 4 DOD: 10.12.2019 State Bank of India Vs. Arun Kumar CS (Comm) No. 44/18 repayment of loan amount in violation of the terms and conditions agreed vide documents viz. (a) SBI Loan Application; (b) Appraisal Note; (c) Sanction Note; (d) Agreement for Term Loan; (e) Annexure I; (f) Operate Letter; and (g) Undertaking by the defendant and loan account became irregular and sticky which was eventually declared as NPA on 07.08.2017.
6. Legal notice dated 27.10.2018 calling upon defendant to pay Rs.5,38,963/ issued and served through speed post did not evoke any response and plaintiff left with no alternative has filed suit for recovery of Rs.5,43,192/ which includes Rs.4,70,474.50 as principal amount Rs.62,064/ as accrued interest up to 20.11.2018 and Rs.10,653/ as arrears of penalty.
7. Application under Order XXXVII Rule 3(1) CPC for entering appearance has not been filed within 10 day of service of summons for appearance in prescribed Form No. 4 Appendix B CPC which was served upon defendant Shri Arun Kumar through his father on 25.03.2019.
8. Advocate Shri Abhijeet Dass, proxy for Advocate Shri R.K. Sinha has addressed his submissions by adverting to original loan documents; statement of account; accrued interest and arrears of penalty filed along with certificate of accrued interest and certificate under Section 2(A) of the Banker's Book of Evidence Act read with Section 65B of the Indian Evidence Act.
9. Since appearance has not been filed within 10 days of service of summons of summary suit in prescribed form on 25.03.2019 and no application under Order XXXVII Rule 3 (7) CPC mentioning any Page No. 3 of 4 DOD: 10.12.2019 State Bank of India Vs. Arun Kumar CS (Comm) No. 44/18 ground for excusing delay in entering appearance has been filed by defendant so plaintiff's averments are deemed to be admitted as per Order XXXVII Rule 2(3) CPC and plaintiff's suit is therefore decreed for a sum of Rs.5,43,192/ along with pendente lite interest @ 9.40% per annum together with the cost of suit.
10. Decreesheet be prepared accordingly.
11. File be consigned to record room. Digitally signed TARUN by TARUN YOGESH YOGESH Date: 2019.12.11 16:34:02 +0530 Announced in the open Court (Tarun Yogesh) On 10.12.2019 ADJ03/South West Dwarka / New Delhi Page No. 4 of 4 DOD: 10.12.2019