Bangalore District Court Canara Bank vs M/S Vrv Enterprises on 19 July, 2025 KABC170023932024 IN THE COURT OF LXXXIV ADDL. CITY CIVIL & SESSIONS JUDGE, AT BENGALURU (CCH85) (Commercial Court) THIS THE 19th DAY OF JULY 2025 PRESENT: SRI. ANAND T. CHAVAN. B.Com.,LL.B.(Spl.) LXXXIV ADDL. CITY CIVIL & SESSIONS JUDGE, BENGALURU. Com.OS.No.1201/2024 Plaintiff: Canara Bank, A Body Corporate established Under the Banking Companies (Acquisition & Transfer of Undertakings) Act 1970 Having its Head Office at No.112, JC Road, Bangalore560002. Having its Branch At, Contonment BranchII, No.109, St.Johns Road, Sivanchetty Garden, Rep. by its Senior Manager Sri. Nandi Jyothi Swaroop. (Rep by Smt. Lakshmi K Varadaraj Adv) V/s 2 Com.OS.1201/2024 Defendant: M/s. V R V Enterprises, Represented by its Proprietor, Sri. N N Vidyanath, No.109, Veerapillai Street, Bangalore560 042, Email: [email protected] Also at: #207, Ground Floor, K. Kamaraja Road, Opp. Sririshna Anjenaya Temple, Bharathinagar, Bengaluru560 042, Email:[email protected] (Rep by RJ Adv) Date of Institution of the suit 10.09.2024 Nature of the suit (suit on pro note, suit for declaration Suit for recovery of & Possession, Suit for Money. injunction etc.) Date of commencement of 21.11.2024 recording of evidence Date on which judgment was 19.07.2025 pronounced Total Duration Year/s Month/s Day/s 00 10 09 LXXXIV Addl.City Civil & Sessions Judge, Bengaluru. 3 Com.OS.1201/2024 JUDGMENT The plaintiff has filed present suit against defendant, directing defendant to: i) To pay sum of Rs.15,35,021.59 to the plaintiff bank with respect to long term loan No.04061250000596 as on 28.02.2022 with future and pendente lite interest from the date of default calculation till filing of the suit and thereafter till the date of realization of said loan amount at the rate of 11.65+4.25% with penal interest 2%. ii) To pay sum of Rs.59,858/ in respect of Loan A/c No.04069160000027 as on 28.02.2024, future and pendente lite interest from the date of default calculation till filing of the suit and thereafter till the date of realization of said loan amount at the rate of 7.90% along with penal interest 2%. iii) To pay sum of Rs.2,45,814.51 in respect of Loan A/c No.170001746013 as on 28.02.2024 with future and pendente lite interest from the date of default calculation till filing of the suit and thereafter 4 Com.OS.1201/2024 till the date of realization of said loan amount at the rate of 7.50% along with penal interest 2%. It is further prayed to direct the sale of hypothecated goods under composite hypothecation agreement and such attached assets to satisfy the decree amount and for the appropriation of the sale proceeds towards the amount claimed in this suit. 2. The brief averment of plaint is that: The plaintiff is Banking Company and a body corporate established under the Banking Companies (Acquisition & Transfer of Undertakings) Act 1970 having its Head Office at No.112, JC Road, Bangalore560002 and one of the branch situated at Cantonment BranchII, No.109, St.Johns Road, Sivanchetty Garden, Bangalore amongst other branches. Earlier the present loan transactions was with Syndicate Bank which was constituted under the same provisions of the banking act and now the said Syndicate bank is merged with the plaintiff bank as per the rules of RBI and for all practical purpose the 5 Com.OS.1201/2024 erstwhile Syndicate Bank shall be referred to as plaintiff bank. Defendant represented by its Proprietor N. N. Vidyanath, who is running a Printing Enterprises in the name and style of M/s. VRV Enterprises and said defendant borrowed aforesaid three loans from plaintiff bank and details are mentioned as under: I. Working Capital Terms Loan under Corporate OD other than MSME Retail Agri, Defendant approached plaintiff bank seeking working capital loan of Rs.15,00,000/ under secured Overdraft