IN THE COURT OF HON’BLE CIVIL JUDGE, SR.DN., AKOLA.

R.C.S.No /2019.

Plaintiff :- Oriental Bank of Commerce, a Body Corporate,

constituted under the Banking Companies
(Acquisition and Transfer of Undertakings) Act
40 of 1980, having its Corporate Office at Plot
No. 5, Sector – 32, Institutional Area, Gurgaon,
Haryana, and having amongst other Branches,
one of the Branch Office, situated at New
Cloth Market, Akola - 444001, Tq. And Distt.
Akola, through its Principal Officer – Dilip s/o
Shivramji Kedar, aged about 49 years, resident
of Akola.

.. Versus ..

Defendant :- Mr. XYZ, aged about 33 years, occupation -

business, resident of Chaitanya Nagar, Kharap
Road, Akola - 444002, Tq. and Distt. Akola.

SUIT FOR RECOVERY OF AMOUNT.

(Suit valued for the purposes of court fees and jurisdiction at

Rs.1,45,627/- (Rupees One lac forty-five thousand six hundred
twenty-seven only).

Plaintiff Bank most respectfully submits as under :-

1. Plaintiff is a Body Corporate with perpetual succession

(Corresponding Nationalised Bank), constituted under the Banking
Companies (Acquisition and Transfer of Undertaking) Act, 40 of 1980,
having its Corporate Office at Plot No. 5, Sector – 32, Institutional
Area, Gurgaon, Haryana, as described in the title of the plaint and may
sue and be sued in its name and has a branch amongst other branches
at New Cloth Market, Akola. Shri Dilip s/o Shivramji Kedar is at
present is the Principal Officer and Branch Manager of the plaintiff
Bank is fully conversant with the facts of the case and he is also
holding Power of Attorney whereby he is fully authorized and
empowered by the plaintiff Bank to sign, verify and institute the suit,
sign pleadings, filed documents and to do all other allied acts as may
be just and necessary in the interest of plaintiff Bank as he may deem
fit and proper in the interest of plaintiff Bank in connection with the
present suit.
2. Defendant wanted to run his photography business, and
therefore, he approached the plaintiff Bank on or about 10.02.2009
(Tenth February two thousand nine) and requested for grant of loan of
Rs. 1,50,000/- (Rupees One lac fifty thousand only) for the business of
ready-made garments by way of term loan.

3. Plaintiff considered the request of the defendant and sanctioned

a loan Rs. 1,50,000/- (Rupees One lac fifty thousand only) for his said
business, bearing interest at the rate of 10% (Ten percent) per annum
with quarterly rests subject to rise and fall as per R.B.I. guidelines and
other Bank charges vide Terms and conditions of sanction letter, dated
10.02.2009 (Tenth February two thousand nine) and defendant agreed
to repay the same as incorporated in the loan documents and terms
and conditions of sanction letter, dated 10.02.2009 (Tenth February
two thousand nine) and he has accepted all the terms and conditions
contained in the said sanctioned letter.

4. Upon sanctioning the loan facility, defendants executed following

documents for valuable consideration time to time in favour of plaintiff
Bank:-

a) Terms and conditions of sanction letter, dated

10.02.2009 (Tenth February two thousand nine).

b) Letter of declaration, dated nil.

c) Letter of undertaking, dated 10.02.2009 (Tenth February two

thousand nine).

d) Common Agreement (DOC 38), dated 25.04.2009 (Twentyfifth

April two thousand nine).

e) Agreement of Term Loan (DOC 5), dated 25.04.2009

(Twentyfifth April two thousand nine).

f) Affidavit of borrower, dated 23.04.2009 (Twentythird April two

thousand nine).

g) Balance confirmation letter, dated 20.04.2012 (Twentieth April

two thousand twelve)

Defendant opened a Term Loan Account with the plaintiff Bank

with its Akola Branch on or about 27.04.2009 (Twenty-seventh April
two thousand nine) and accordingly a sum of Rs. 90,230/- (Rupees
Ninety thousand two hundred thirty only) on this date and balance
loan proceeds thereafter, was transferred to the said account of
defendant by the plaintiff Bank on the instruction of the defendant
being loan proceeds/disbursement, by preparing cash order. Out of
such loan proceeds, defendant purchased the necessary articles
relating to photography business in pursuance of his quotation, dated
08.11.2008 (Eighth November, two thousand eight) and submitted
invoice/bill to the plaintiff Bank, dated 05.05.2009 (Fifth May two
thousand nine) after purchasing all such articles out of such loan
facility i.e. loan proceeds received by him. Thus, defendant purchased
necessary stock of his photography business and availed and utilized
loan facility.

6. Defendant have also signed and executed balance

confirmation letter as referred in para 4 above i.e. on 20.04.2012
(Twentieth April two thousand twelve), and thereby he has confirmed
and admitted the payable amount of loan by him to the Bank as
mentioned therein. Since defendant has failed to adjust the account
as agreed in spite of Bank approached to them time to time by making
repeated requests but still defendant did not repay the outstanding
loan amount and therefore, plaintiff Bank issued demand notice, dated
26.09.2011 and also registered notice through Advocate S. K. Sureka,
dated 25.06.2012, and in spite of that also, defendant neither replied
nor complied with the said notice and hence, Bank was left with no
other alternative but to institute the present suit.

7. After considering the account of the defendant on

30.11.2012 (Thirtieth November two thousand twelve), amount of Rs.
1,45,627/- (Rupees One lac forty-five thousand six hundred twenty-
seven only) is found due and recoverable. Account of defendant is
classified as non-performing asset as per R.B.I. guidelines. Hence, as
per R.B.I. guidelines interest accrued cannot be debited to such
account, which is classified as non-performing asset. Therefore, such
further interest which is accrued but not debited to the Account,
(recorded interest) recoverable from the defendant is worked out at
Rs. 3,181/- (Rupees Three thousand one hundred eighty-one only)
from 08.10.2012 (Eighth October two thousand twelve) to 30.11.2012
(Thirtieth November two thousand twelve) and it is shown in the
statement of account and as such total amount of Rs. 1,45,627/-
(Rupees One lac forty-five thousand six hundred twenty-seven only)
inclusive of interest upto 30.11.2012 (Thirtieth November two
thousand twelve) charged as per R.B.I. guidelines is due and
outstanding recoverable from the defendant, for which the defendant
is liable to pay the same. Certified copy of the statement of account
duly certified as per Banker’s Book of Evidence Act, showing the
outstanding amount recoverable from the defendant inclusive of
interest, charges and all other recoverable dues is filed herewith.
Hence, the suit is valued for the purposes of court fees and jurisdiction
at Rs. 1,45,627/- (Rupees One lac forty-five thousand six hundred
twenty-seven only) and accordingly the necessary court fee is paid
herewith.

8. Cause of action to file the suit arose on 10.02.2009 (Tenth

February two thousand nine) when the defendants signed and
executed necessary documents in favour of plaintiff Bank referred in
above para 4 and on 20.04.2012 (Twentieth April two thousand
twelve) when the defendant signed balance confirmation letter, and it
also arose on respective dates of repayments as shown in the
statement of account when defendants made repayments at Akola, Tq.
Distt. Akola, within the jurisdiction of this Hon’ble Court. Defendants
have lastly resided at Akola, worked for gain at Akola, Tq. Distt. Akola,
loan documents are signed and executed at Akola, loan facility is
availed at Akola and Branch Office of plaintiff Bank is also situated at
Akola, within the territorial jurisdiction of this Hon’ble Court and
therefore, this Hon’ble Court has jurisdiction to try and entertain the
present suit.

It is submitted that, due to execution of documents by the

defendants time to time and due to last balance confirmation letter
obtained and signed by him on 20.04.2012 (Twentieth April two
thousand twelve) as referred earlier and due to making of repayments
time to time as shown in the statement of account, period of limitation
under law has been extended accordingly.

9. It is submitted that, rate of interest is to vary as per R.B.I.

Directives time to time and defendant is liable to pay accordingly. He
is also liable to pay service charges and penal interest as allowed by
R.B.I.
10. Plaintiff Bank relies on the documents referred in para 4 of the
plaint and also rely upon the statement of account. Documents are
filed as per list. Plaintiff craves leave of this Hon’ble Court to file any
other relevant document at the appropriate stage of the suit, if any
found and deemed necessary. It will not be out of place to mention
here that, plaintiff Bank has already made its efforts to settle the
matter out of court but no any settlement could be arrived between
the parties.

11. There is no any amicable settlement arrived between the parties

out of court in any manner. Plaintiff Bank have not filed any other suit
earlier against the present defendants on the same cause of action.

PRAYER :- This Hon’ble Court may kindly be pleased to pass a joint

and several decree in favour of plaintiff Bank and against
all the defendants of Rs. 1,45,627/- (Rupees One lac
forty-five thousand six hundred twenty-seven only);

i) Suit be decreed with costs;

ii) Order for sale of hypothecated goods with or

without intervention of Court for realization of
decretal amount and sale proceeds thereof after
deducting the expenses of sale be paid to the
plaintiff Bank towards satisfaction of decretal
amount;

iii) In case if there is any short fall to adjust the

Bank’s dues out of the sale proceeds of the
hypothecated goods, the liberty be reserved to the
plaintiff Bank to recover the decretal amount from
the other assets of the defendants;

iv) Future interest on decretal amount @ 12.75% per

annum with quarterly rests, as mentioned in
balance confirmation letter, dated 20.04.2012
(Twentieth April two thousand twelve) be awarded
from the date of suit till its realization.
 v) Typing, Xeroxing, clerkage and other misc.
expenses of Rs. 2,000/- (Rupees Two thousand
only) be granted separately in addition to costs of
suit as per Order 20-A Rule 1-C of C.P.C.

vi) Any other relief, which this Hon’ble Court may

deem fit and proper in the circumstances of the
case may be granted separately.

Place :- AKOLA.
Date :- 24.01.2019. _____________________
Plaintiff.
Signature
Counsel for Plaintiff Bank.

VERIFICATION
I, Dilip s/o Shivramji Kedar, the Principal Officer, do
hereby verify and state that, the contents of above plaint are true and
correct to my knowledge and from the information received from
bank’s record and believed by me to be true and correct.

Hence, signed and verified at Akola on this 24 th day of January,

2019.

_____________________
Plaintiff.