Bangalore District Court Canara Bank vs Mr.Saravana.R on 16 February, 2023 IN THE COURT OF THE LXXXVI ADDL. CITY CIVIL JUDGE AT BANGALORE [CCH.No.87] Present: Smt.NERALE VEERABHADHRAIAH BHAVANI, B.A., LLB(Hons) LXXXVI ADDL. CITY CIVIL JUDGE Dated this the 16th day of February, 2023 Com.O.S.No.1425/2022 Plaintiff/s : Canara Bank A body corporate, Constitute under Banking Companies (Acquisition & Transfer of Undertakings) Act, 1970 and amalgamation of Syndicate Bank into Canara Bank Scheme 2020, Having its Head office at J.C.Road, Bengaluru560 002 Reptd, by Suraj Kumar S/o Rameshwar Choudhary Aged about 47 years, Chief Manager, Canara Bank, Gavipuram Extension at Gavipuram Bengaluru560 019 (By J.R.K Advocate) Vs Defendant/s : Mr.Saravana.R S/o Ravi Aged about 33 years R/at No.B9, 2nd cross, Mysore Road, Chamrajpet, Bengaluru560026. 2 Com.O.S.No.1425/2022 (M): 8147240160 ( Defendant placed exparte) Date of institution of the suit : 27.09.2022 Nature of the suit [suit on pronote, suit : Recovery of Money for declaration and possession, suit for injunction] Date of the commencement : 15.02.2023 of recording of the evidence Date on which the Judgment was pronounced : 16.02.2023 Year/s Month/s Day/s Total Duration 00 04 20 (N.V.Bhavani) LXXXVI Addl. City Civil Judge Bangalore. JUDGMENT The plaintiff bank has filed a suit against the defendant for the recovery of a sum of Rs.16,63,139.77/ with interest at 10.95% as on 30.06.2022 from the date of suit till realization and other consequential relief. 2. The brief facts of the plaintiffs' case are as under: 3 Com.O.S.No.1425/2022 The plaintiff is a banking company constitutes under the Banking Companies Act and also it is one of the Nationalized Banks which carries on business interalia of banking at Gavipuram Extension, Gavipuram, Bengaluru 560 019. 3. The defendant had approached the bank which was earlier in the name of syndicate bank, the said bank is merged with the plaintiff bank. All the transaction done by the defendant stands in the name of the plaintiff bank. The plaintiff bank advance the loan for a defendant for ruining motor vehicle business under the scheme of credit facilities to MSME scheme on 24.03.2016. The defendant has furnished proforma invoice dated 05.02.2016 and the cost of the vehicle is Rs.10,61,937/. As per the application dated 24.03.2016, the defendant has sought loan for Rs.8,40,000/ and agreed to entered into composite hypothecation agreement. The defendant had submitted the project report, which shows loan repayment. The defendant is maintaining the account with the plaintiff bank bearing No.04397910000566 and the said account became NPA on 27.02.2017. As per the instruction of the defendant, the loan amount advanced 4 Com.O.S.No.1425/2022 to the defendant was transfer to the account of M/s Lakshmi Car Zone Pvt Ltd., the authorized dealer for Nissan Bangalore. The defendant has produce the confirmation of delivery of vehicle Nissan Sunny XVD, 2016 model bearing registration No.KA03AD1635 after taking out the possession of vehicle, the defendant start running the vehicle for tourist purpose. Since the defendant had failed to repay the loan, he was issued notices and the staff of the plaintiff bank have approached the defendant personally advising him to repay the loan, which he failed to yield to it and become a defaulter. Hence the suit. 4. After filing of the suit, suit summons sent to the defendant returned as left the address and thereafter the plaintiff has taken the summons through newspaper publication. Inspite of the publication, the defendants remained absent and hence they are placed exparte. 5. The authorized representative of the plaintiff bank in order to substantiate the case of the plaintiff has been examined as P.W.1 and got marked the documentary evidence, which are at Ex.P.1 to Ex.P.15