-1- IN THE HIGH COURT OF JUDICATURE AT BOMBAY O.O.C.J. Suit No. 657 of 2000 State Bank of India ..Plaintiff vs. Shrui Santosh V.Parab ..Defendant .... Ms.Rupa Bhave with Ms.Aarti Khadilkar i/b Bhave and Co. for plaintiff None for defendant. .... CORAM: S.J.KATHAWALLA J. CORAM: S.J.KATHAWALLA J. CORAM: S.J.KATHAWALLA J. 12th January, 2009 12th January, 2009 12th January, 2009. P.C. P.C. P.C. 1. This suit has come under the caption "for exparte decree". The suit is filed by the plaintiffs Bank against the defendant to recover the amount of Rs.73,658.12 as per the particulars of claim annexed as Exh-E to the plaint with further interest thereon at the rate of 13.77% p.a. compounded with quarterly rest from the date of filing of the suit till full and final payment thereof. The plaintiff is seeking a decree only in terms of prayer clause (a). 2. The plaintiff has filed the affidavit proving service on the defendant dated 17th October, 2007 which shows that the defendant has -2- been served with the writ of summons by registered post A.D. The copy of the acknowledgment received from defendant is marked as Exhibit A to the affidavit proving service. 3. The plaintiff has tendered the affidavit of evidence of one K.Ilango, Deputy Manager and Principal Officer of the plaintiff which is taken on record and marked "X" for identification. The plaintiff has also filed the original documents in support of its claim in the suit. 4. The plaintiff has granted to the defendant a Medium Term loan of Rs.54,625/- on 31st December, 1997 for purchase of computer and peripherals under the Prime Minister’s Rojgar Yogana. Thus the said loan was without surety and only on hypothecation of the purchase equipments. To secure the said advance the plaintiff obtained the following documents from the defendant 1) Arrangement letter dated 29.12.1997 accepting the condition of repayment in instalments and hypothecation of machinery; 2) Agreement of Composite Loan dated 31.12.1997 for Medium Term Loan hypothecating the computer and -3- peripherals to be purchased by the defendants from the loan amount of Rs.54,625/- 5. After disbursement of the said amount of Rs.54,625/- by the plaintiff the defendant utilised the same by obtaining the computer and peripherals for his business on 14.1.1998. 6. The plaintiff have stated that since July, 1998 the account of the defendant has remained irregular and inspite of repeated reminders and notices the defendant has failed and neglected to regularise the account. The plaintiff by its Advocate’s letters dated 12th November, 1998 and 16th September, 1999 have called upon the defendant to pay the outstandings as set out therein. 7. The plaintiff have stated that the defendant failed and neglected to pay the said amount and has not replied to the notices sent by the Advocate. It is also stated that under the circumstances the plaintiff is entitled to recover and the defendant is bound and liable to pay to the plaintiff on the date of filing of the suit including interest calculated upto the date of filing of the suit, an amount of -4- Rs.73,658.12 as per the particulars of claim annexed and marked as Exhibit E to the plaint. The plaintiff has stated/submitted that the defendant is further liable to pay interest at the rate of 13.77% at quarterly rest from the date of filing of the suit till the date of actual and full payment. 8. I have perused the averments made in the plaint, the affidavit of evidences and the documents tendered. I have gone through the documents at Exh-P-1 and P-2 which proves that the defendant had obtained the said Medium Term Loan from the plaintiff for an amount of Rs.54,625/- with interest on the composite loan at the rate of 0.26% below/above SBI advance rate minimum 13.26% rising and falling therewith and on other terms and conditions mentioned in the said documents. Exh-P-4 shows that though the notice of demand is issued by the plaintiff to the defendant and the same is received by the defendant, the defendant has failed and neglected to respond to the same. From Exh-P-6 and P-7, it is established that the plaintiff has maintained an Account of the defendant in the ordinary Books of Accounts of the Bank made in its usual course of business, and the said -5- Accounts shows that the outstandings claimed by the plaintiff are due and payable to them by the defendants. 9. There is no contest by the defendant and what is stated in the affidavit of evidence has gone unchallenged. There is no reason why the case made out by the plaintiff should not be accepted. Hence, I pass the following order: The defendant is ordered and decreed to pay to the plaintiff a sum of Rs.73,658.12 with simple interest thereon at the rate of 10% from the date of filing of the suit till payment and/or realisation. The suit is accordingly disposed of. Certified copy is expedited. (S.J.KATHAWALLA J.) (S.J.KATHAWALLA J.) (S.J.KATHAWALLA J.)