The Court made the summons for judgment absolute in favor of State Bank of India. The Court held that the defendant's lack of reply to the demand notice and failure to file an affidavit meant the plaint's averments were deemed admitted and the suit was decreed.
Suit decreed for recovery of Rs. 2,06,965/- with interest at 11.5% p.a.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
S.J. No. 78 of 2011
1
hvn
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
ORDINARY ORIGINAL CIVIL JURISDICTION
SUMMONS FOR JUDGMENT NO. 78 OF 2011 IN
SUMMARY SUIT NO. 2194 OF 2009
State Bank of India
.. Plaintiff
Versus
Sandeep Vasant Sawant .. Defendant
Mr. Prasad Das i/by M/s. Goenka Law Associates for the plaintiff.
None for Defendant.
CORAM : R.D. DHANUKA,JJ. DATED : AUGUST 24, 2012
P.C.
By this Summons for Judgment, the plaintiff seeks to recover
Rs.3,51,152/- with interest and cost. The suit is based on the agreement for education loan signed by the defendant. According to plaintiff on 8th February, 2006, the plaintiff bank granted education loan of Rs.2,06,965/- to the defendant pursuant to application made by the defendant on 7th January, 2006. Pursuant thereto, defendant executed Education Loan Agreement on 27th February, 2006 thereby agreeing to repay the said amount in 60 Equal Monthly Installments plus interest at the rate of 10.5% p.a. with monthly rests.
S.J. No. 78 of 2011
2
Summons for Judgment is made absolute.
It is made clear that the plaintiff however, would be entitled to get interest
at the rate of 11.5% p.a. on Rs.2,06,965/- till payment.
The suit is decreed accordingly.
Summons for Judgment is disposed of in the aforesaid terms.
(R.D. DHANUKA,J.)
2 issues framed by the court
Whether the plaintiff is entitled to recover the loan amount with interest given the defendant's failure to reply to the demand notice.
What interest rate applies to the decretal amount.
R.D. Dhanuka
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
