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Suit for recovery of money | Bank recovery suit

 

IN THE COURT OF HON’BLE CIVIL JUDGE (SENIOR DIVISION)

                                                                         Civil Suit No. __________ 

Allahabad Bank, a body corporate constituted under the Banking Companies (Acquisition and transfer of Undertaking) Act. 1970, having its Head Office at 2, Netaji Subhash Road, Kolkata 700001, it has its Branches through out India and one such Branch is situated at _____________________.                                                                                                                                                               ……………Plaintiff

                                                Versus

1.  Smt. Rakwati wife of __________ (BEING BORROWER/MORTGAGOR) &

2.  Chander Pal son ___________________.

                                                                                        – (BEING CO-BORROWER).

3.  Raj Veer son of Sh. ______________________________

4.    Mahender Singh 

                                                                                        (3 & 4 BEING GUARANTORS).

                                                                                                  …………Defendants

Suit for Recovery of Rs.14,56,963/- (Rupees Forteen Lac Fifty Six Thousand Nine Hundred Sixty Three only) & Court Fee of Rs.81,300/- (Rupees Eighty One Thousand Three Hundred only).

R/Sir,

               The plaintiff above named respectfully submits as under:-

1.    That the plaintiff bank is a body corporate constituted under the Banking Companies (Acquisition and Transfer of Undertaking) Act. 1970, having its Head Office at 2, Netaji Subhash Road, Kolkata 700001, it has its Branches throughout India and one such Branch is situated at __________________. It is a body corporate, which can sue or be sued in its own name.

2.    That Sh. ____________ is presently the Branch Manager and Principal officer of Allahabad Bank, Old Faridabad Branch and is competent to institute / file the present suit. He is conversant with the facts of the present suit and as such is in position to depose about the correctness, otherwise of facts stated in this Plaint. He is competent to sign and verify all types of Pleadings, Vakalatnama, Affidavits, Applications, Executions and to do all acts necessary for the proper conduct of legal proceedings filed on behalf of the Plaintiff / Bank vide Authority Letter issued in his favour by Competent Authority.

3.     That on the Loan Application of the Defendant No.1 & 2, the Plaintiff/ Bank sanctioned Housing Loan of Rs.12,30,000/- (Rupees Twelve Lac Thirty Thousand only) under Allahabad Bank Ashiana Scheme for construction of House on Residential Property comprising in Rect. No. ______, Killa No. _________to the extent of 50 Sq. Yds. situated with in the Revenue Estate of _______and falls with in the Municipal Limits of Municipal Council at _________.

4.    That Plaintiff Bank disbursed Rs.5,28,211/- (Rupees Five Lakh Twenty Eight Thousand Two Hundred Eleven) on 16/03/2016 and Rs.4,00,000/- (Rupees Four Lakh) on 27/04/2016 and Rs.3,00,000/- (Rupees Three Lakh) on 17/05/2016 and were disbursed in Housing Loan Account No. 50326896572 of Defendants.

5.     That in consideration of sanctioning of the above said House Loan of Rs.12,30,000/- (Rupees Twelve Lac Thirty Thousand only) under Allahabad Bank Ashiana Scheme for construction of House, the defendants, signed, executed and delivered security documents for valuable consideration in favour of plaintiff bank mentioned herein under :-

(i).   Loan Application For House Loan Rs.12,30,000/- (Rupees Twelve Lac Thirty Thousand only) dated 04/02/2016.

(ii).  Sanction Letter For House Loan under Allahabad Bank Ashiana Scheme Rs.12,30,000/- (Rupees Twelve Lac Thirty Thousand only) by Branch Manager with Terms & Conditions to Borrowers/Mortgagor/Guarantor dated 02/03/2016.                    

(iii).  Acknowledgement Letter accepting Terms and Conditions of Sanction                Letter dated 02/03/2016.

(iv).  DPN (Demand Promissory Note) of Rs.5,28,211/- (Rupees Five Lakh Twenty Eight Thousand Two Hundred Eleven) dated 16/03/2016 and DPN (Demand Promissory Note) of Rs.4,00,000/- (Rupees Four Lakh) dated 27/04/2016 and DPN (Demand Promissory Note) of Rs.3,00,000/- (Rupees Three Lakh) dated 17/05/2016.      

(v).   Declaration by Borrower/Mortgagor on Affidavit executed on dated 02/03/2016.

(vi).   Personal Guarantee Agreement on Stamp Paper of Rs.100/- executed by Guarantor-Defendant No.3 i.e. Raj Veer.

(vii).   Personal Guarantee Agreement on Stamp Paper of Rs.100/- executed by Guarantor-Defendant No.4 i.e. Mahender Singh

(viii).  Letter of Mortgagor confirming Deposit of Title Deeds for Borrower/ Mortgagor on Stamp Paper of Rs.100/- executed by Borrower/Mortgagor i.e. Defendant No.1 dated 02/03/2016.  

(ix).     Recital dated

(x).     Copy of ID Proofs of Borrowers / Mortgagor/Guarantors.                 

(xi).     Notice issued u/s 12 of SARFAESI Act dated 05/03/2018.

(xii).    Discharge / Closure Amount Receipt of House Loan dated 14/11/2018.

(xiii).   Bank Account Statement of House Loan Account No. 50326896572.

6.        That the defendants utilized Rs.12,30,000/- (Rupees Twelve Lac Thirty Thousand only) and deposit made by the said defendants has been incorporated in the Bank Account Statement of defendant, opened in the books of accounts by plaintiff bank and maintained by the plaintiff bank in its ordinary course of business. The House Loan was agreed to be repayable at monthly installments of Rs.12,600/- in Two Hundred Forty equal installments along with interest @ 9.70% at the time of disbursement of loan with monthly rest. The rate of interest was agreed to be variable form time to time as per Bank Directives. 

7.        That-the-defendants are not paying the loan amount and the plaintiff Bank has approached the defendants for payment of bank dues but the defendants have failed to repay the overdue amount, inspite-of repeated requests and demands and also on personal visits by concerned Branch Managers at the Residence of defendants and in the office of Defendants. The defendants failed to abide by the financial discipline of the plaintiff /bank and Loan Account became NPA on 31/12/2016. Thus, the entire amount and balance outstanding became due and payable to the plaintiff bank. In view of the facts mentioned above, the plaintiff bank had no other alternative except to call upon the defendants to liquidate the above said loan amount and to pay entire amount due towards the defendants of the plaintiff bank in aforesaid loan accounts but to no effect Hence this suit.

8.       That now a sum of Rs. 14,56,963/- (Rupees Forteen Lac Fifty Six Thousand Nine Hundred Sixty Three only) of the plaintiff bank is due and payable by the defendants to plaintiff bank in aforesaid loan account, including interest up to 14/11/2018 plus (+) future interest and cost of the Suit are payable by the defendants to the plaintiff bank claims the same hereby. The copy of statement of accounts and Closure Amount duly certified as per bankers book of Evidence Act is attached herewith.

9.     That no other suit between the same parties is pending or filed before any court of law on same cause of action.

10.   That cause accrued to the plaintiff bank against defendant on dated 16/03/2016, when the loan was availed by the defendants after execution of security documents in favour of plaintiff bank. The cause of action also accrued when the defendants failed in repayment of installments. It further accrued when the plaintiff bank requested the defendant to make the payment but the defendant failed to pay the same. The cause of action also accrued on 31/12/2016, when the House Loan Account became NPA and also accrued when the plaintiff/bank made demands and on their personal visits to pay their outstanding amount due upon the defendants and also accrued on 05/03/2018, when  Notice u/s 12 of SARFAESI Act dated 05/03/2018 was served to defendants. The cause of action is continuing one.

11.     The suit of the plaintiff is well with in limitation.

12.     That the property upon which Plaintiff/Bank has extended Loan falls with in the territorial jurisdiction of this Hon’ble Court and defendants are also residing in the jurisdiction of this Hon’ble Court, hence this Hon’ble Court has got jurisdiction to entertain, try and decide the present suit.

12.     That value of the suit for the purpose of court fee and jurisdiction is assessed at 14,56,963/- (Rupees Forteen Lac Fifty Six Thousand Nine Hundred Sixty Three only)  over which a proper and advolourum Court fee of Rs.81,300/- (Rupees Eighty One Thousand Three Hundred only) has been affixed on the plaint.

13.  PRAYER :-

          It is therefore, most respectfully prayed as under:-

(a).       That a decree of recovery of 14,56,963/- (Rupees Forteen Lac Fifty Six Thousand Nine Hundred Sixty Three only)  along with interest pendentilite up to 14/11/2018 and future interest @ 9.70% P.A. with monthly rest from the date of institution of the suit till final Realization with costs, Charges and other expenses incurred in the suit may kindly be passed in favour of plaintiff and against the defendants.

(b).        That the cost of the suit may also be awarded in favour of the plaintiff and against the defendants.

(c).     That the Litigation Expenses of Rs.21,000/- may also be awarded in favour of the plaintiff and against the defendants.

(e).    Any other relief which this Hon’ble Court deems fit and proper in circumstances of the facts may also be granted in favour of the plaintiff and against the Defendants.

                                                                             PLAINTIFF

                                                     ALLAHABAD BANK,  Through its Branch 

                                                  Manager. 

Through Counsel:

 

Verification  :-

 I, Branch Manager Allahabad Bank do hereby verify that contents of above given plaint from para 1 para 12 are true and correct to best of my knowledge and belief and nothing has been concealed therein.                                     

PLAINTIFF


IN THE COURT OF HON’BLE CIVIL JUDGE (SENIOR DIVISION) 

Allahabad Bank                         Versus                   Smt. Rajwati

Suit For Recovery

                                                        Affidavit

I, ___________________ Branch Manager, Allahabad Bank, do hereby solemnly affirm and declare as under :-

1.  That the Suit for Recovery has been filed on behalf of Allahabad Bank through Deponent and contents of the same may kindly be read as part and parcel of this affidavit for sake of brevity to avoid repetition.

2.    That Deponent has gone through the contents of the suit and same are true and correct to the best of my knowledge and belief and Deponent has signed and verified the same in token of its correctness.                                                                                                                                                             Deponent

Verification : Verified that the contents of Para No.1 and 2 of the above affidavit are true and correct to the best of my knowledge belief.

                                                                          Deponent

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