1

IN THE COURT OF CIVIL JUDGE (JUNIOR DIVISION) THANE

AT THANE

REGULAR CIVIL SUIT NO. _________ OF 2020

Yes Bank, )

a Body Corporate constituted under the )

Banking Companies (Acquisition and Transfer )

of Undertakings ) Act, 1980 having its Head )

Office at Yes bank Tower, Elphinstone , )

Mumbai- 400 013 and having its Thane (W) )

Branch at Shop Nos. 2 & 5, Mangal Murti )

Co-op. Housing Society Ltd., Ram Maruti Road, )

Naupada, Thane (West), through its Assistant )

Manager Mr. ABC ) …. Plaintiff.

Versus

1. M/s. M. S. Telecom Systems & Services, )

a sole proprietary firm carrying on the business )

at Kapurbawdi, Thane (West) – 400607. )

2. Mr. Anand Maruti Patil, )

of Indian Inhabitant residing at Galaxy Packers, )

Ghatla Village Road, Near Amar Cinema, )

Jani Industrial Estate, Chembur, )

Mumbai – 400071. ) ….. Defendants.

SUIT FOR RECOVERY OF AN

AMOUNT OF RS.4,97,877/-
 2

THE PLAINTIFF ABOVENAMED STATE AS UNDER :-

1. The Plaintiff is a Body Corporate constituted under the Banking

Companies (Acquisition and Transfer of Undertakings ) Act, 1970

having its Head Office at Yes Bank Tower, Mumbai and its Thane

(West) Branch at the address mentioned in the cause title. The

Plaintiff inter-alia carries on business as Bankers.

2. The Defendant No. 1 is a sole proprietary firm of which the

Defendant No. 2 is a sole proprietor. The Defendants are the

constituents of the Plaintiff having enjoyed the credit facility with

the Plaintiff as more particularly set out hereinbelow.

3. The Plaintiff state that, pursuant to the Application made by the

Defendants, the Plaintiff on or about 11th December, 2015 vide their

sanction letter granted/ sanctioned Term Loan of Rs.8.00 lacs under

Pradhan Mantri Mudra Yojana – Shishu Scheme in the name of the

Defendant No.1 for the purpose of their business on terms and

conditions mentioned in the said sanction letter. The Defendants duly

accepted the terms and conditions of the said sanction letter by

endorsing their signature on the office copy of the said sanction

letter. Hereto annexed and marked Exhibit “A” is a copy of the

said Sanction Letter. The Plaintiff hereby crave leave to refer to and

rely upon the said Loan Application when produced.

4. The Plaintiff state that, in consideration of the Plaintiff sanctioning/

granting the said Term Loan of Rs.8.00 lacs to the Defendants and

to secure the amount due thereunder, the Defendants executed the

Composite Agreement dated 11th December, 2015 in favour of the

Plaintiff whereby the Defendants, apart from other things, agreed

 3

and undertook to repay the amount of the said Term Loan in 60

equated monthly installments commencing after gestation period of six

months i.e. commencing six months after date of disbursement, apart

from and in addition to the interest, cost charges etc. in the manner

more particularly sent out therein and also hypothecated in favour of

the Plaintiff the goods, equipments, tools, machineries and stocks and

book-debts etc. (hereinafter referred to as “the hypothecated

properties/securities”) as more particularly set out therein. Hereto

annexed and marked Exhibit “B” is a copy of the said Composite

Agreement dated 11th December, 2015.

5. The Plaintiff state that, as per the business requirements and upon

the request made by the Defendants, the Plaintiff made partial

disbursement of an amount of Rs.5.00 Lacs out of the said sanctioned

Term Loan of Rs.8.00 Lacs. That the balance amount of the sanctioned

Term Loan was to be disbursed upon the instruction from the Defendants.

However, the Plaintiff never received any direction from the Defendants

with regards to the disbursement of the balance amount of the sanctioned

Term Loan (i.e. Rs.3.00 Lacs). The Plaintiff further states that, the Plaintiff

partially disbursed the said Term Loan on 22.12.2015 by transferring

the said amount of Rs.5.00 lacs to the Saving/Current Account No.

057111100002582 of the Defendant with the Plaintiff’s branch. The

Plaintiff thus upon the instruction of the Defendants, the Plaintiff has duly

disbursed the partial amount of the said Term Loan. The Defendants

duly availed of the said Loan with the Plaintiff by utilising the said

loan amount so transferred to their account as per their business

requirements.

6. The Plaintiff state that in their ordinary and usual course of Banking

business, the Plaintiff has maintained a separate Account No.

 4

057130100009664 in the name of the Defendant No.1 in respect of

the said Term Loan. In the said account the Plaintiff has duly

debited the amount used and utilized by the Defendants together with

the accrued interest, costs, charges, expenses etc. The Plaintiff has

also given due credit for the amounts deposited by the Defendants in

the said account.

7. The Plaintiff state that, the Defendants thus duly availed of the said

Loan with the Plaintiff. However, the Defendants became highly

irregular in operating the account in respect of the said Term Loan.

The operation in the said account was very poor and unsatisfactory.

The Defendants also failed and neglected to pay the monthly

installments in respect of the said Term Loan in accordance with the

terms of sanction. The installments for several months have remain

unpaid and overdue by the Defendants. The Defendants also failed to

serve the monthly interest in respect of the said Loan and the

interest for several months remained unpaid and overdue by the

Defendants. The Plaintiff by their various letters time and again

called upon and requested the Defendants to regularize the said loan

account and to pay the overdue installments as well as the overdue

interest. However, the Defendants failed and neglected to comply

with the said requests made by the Plaintiff. For the reasons

mentioned hereinabove, the account in respect of the said Term Loan

became out of order and the same was came to be classified as

NPA with effect from 21.08.2017 as per the R.B.I. Guidelines. The

Defendants thus committed various irregularities and breaches of the

terms and conditions of sanction as well as of the security documents

executed by them in favor of the Plaintiff. Hereto annexed and

 5

marked Exhibit “C” is a copy of the Statements of Account in

respect of the said Term Loan.

8. The Plaintiff by their various letters/notices some of such

letters/notices being dated 12.10.2017, 04.12.2017, 06.01.2018,

01.02.2018, 09.03.2018 and 04.04.2018 time and again requested the

Defendants to pay the overdue interest and installments and to

regularize the said loan account. However, inspite of the said

repeated requests and demands made by the Plaintiff, the Defendants

failed to pay the regularize the said loan account. Hereto annexed

and marked Exhibits “D” and “D-1” to “D-5” are the copies of the

said letters/notices being dated 12.10.2017, 04.12.2017, 06.01.2018,01.

02.2018, 09.03.2018 and 04.04.2018 sent by the Plaintiff to the

Defendants.

9. The Plaintiff ultimately vide their recall notice dated 20th December,

2018 recalled the entire amount due under the said Term Loan and

called upon the Defendants to repay the entire loan amount and

interest within 15 days. However, the Defendants failed to comply with

the said recall notice. Hereto annexed and marked Exhibit “E” is a

copy of the said recall notice dated 20th December, 2018.

10. In circumstance, the Plaintiff state that there is now due and payable

jointly and severally by the Defendants to the Plaintiff a sum of Rs.

4,97,877/- (Rupees Four Lakhs Ninety Seven Thousand Eight Hundred

And Seventy Seven only) under the said Term Loan as per the

Particulars of Claim being Exhibit “F” annexed hereto with further

interest thereon at the rate of 12% p.a. plus 2% penal interest with

monthly rests from 22nd January, 2019 till payment and/or realization.

11. The Plaintiff submit that, the Defendants are bound and liable to pay

to the Plaintiff the aforesaid amounts and interest as prayed herein.

 6

The Plaintiff, therefore, submit that the Defendants be ordered and

decreed to pay to the Plaintiff the amount, interest and costs as

prayed herein and the present suit be accordingly decreed as prayed.

12. The Plaintiff submit that the aforesaid amount with interest is duly

secured by a valid and subsisting hypothecation of goods, equipments,

tools machineries and Book Debts described in Composite Agreement

being the Exhibit “B” annexed hereto. The Plaintiff further submit that

the said hypothecated securities be ordered to be sold and/or realized

and/or recovered by and under the orders and directions of this

Hon’ble Court and the net sale proceeds or recoveries thereof be

ordered to be paid to the Plaintiff towards their claim herein.

13. The Plaintiff strongly apprehend that in order to defeat the rights of

the Plaintiff and to deprive the Plaintiff of their valuable securities,

the Defendants may dispose off, transfer, create encumbrances and/ or

create a third party rights in or over the said hypothecated securities.

The Plaintiff, therefore, submit that it is just, proper and absolutely

necessary that pending the hearing and final disposal of the suit, any

other person be appointed as a Receiver in respect of the

hypothecated securities described in Exhibit “B” annexed hereto with

all the powers under Order XL Rule 1 of the Code of Civil

Procedure, 1908, including the power to sell the said hypothecated

securities and to pay the net sale proceeds/ recoveries thereof to the

Plaintiff towards their claim in the suit.

14. The Plaintiff submit that it is also just, proper and absolutely

necessary that pending the hearing and final disposal of the suit, the

Defendants, their servants, agents and /or any other person or persons

claiming through or under them be restrained by an order of

injunction of this Hon’ble Court from parting with possession,

 7

selling, disposing off, transferring, encumbering, the said hypothecated

securities described in Exhibit “B” annexed hereto and/ or creating

any third party rights or interest of whatsoever nature in respect

thereof.

15. The Plaintiff submit that a grave and irreparable harm, loss, injury

and prejudice will cause to the Plaintiff if the aforesaid reliefs are not

granted whereas no harm, loss, injury and / or prejudice will cause to

the Defendants if the aforesaid reliefs are granted in favour of the

Plaintiff. The Plaintiff have made out a strong and prima facie case

for grant of ad-interim and interim reliefs. The Plaintiff further

submit that the balance of convenience, law and equity is in favour

of the Plaintiff and against the Defendants. The Plaintiff, therefore,

respectfully submit that the ad-interim and interim reliefs as prayed

herein be granted in favour of the Plaintiff.

16. The Plaintiff submit that the said Loan was granted and enjoyed at

the Plaintiff’s Thane Branch, Thane. The security documents were

executed at the Plaintiff’s Thane Branch, Thane. The amounts are

repayable at the Plaintiff’s Thane Branch, Thane. The part payments

were made at the Plaintiff’s Thane Branch, Thane. The account in

respect of the said Loan has been maintained at the Plaintiff’s Thane

Branch, Thane. The entire cause of action has thus arisen at Thane.

The Plaintiff, submit that this Hon’ble Court has, therefore,

jurisdiction to entertain, try and dispose of the present suit.

17. The Plaintiff submit that the amounts due under the said credit

facility granted under PMMY Scheme is covered under insurance of

CGTMSE . The Plaintiff further submit that they are in the process

of lodging their claim with the CGTMSE for payment of the

defaulted amount covered under the insurance of the CGTMSE. The

 8

Plaintiff, however, submit that as per the terms and conditions of the

insurance of CGTMSE notwithstanding the bank receives claim from

the CGTMSE, the Plaintiff bank is duty bound to make all their

efforts and to take such steps and/or actions as are laid down under

the law of land for recovery of the defaulted amount and to remit

back the recoveries to the CGTMSE .

18. That one, Mr. ABC, the Asst. Manager and duly Authorised

Representative of the Plaintiff who is duly conversant with the facts

of the case and able to depose to the same has signed and verified

the plaint.

19. The Plaintiff value their claim in the suit at Rs. 4,97,877/- for the

purpose of court fees and jurisdiction and pay the court fees of

Rs.13,630/- accordingly.

20. The Plaintiff submit that as aforesaid, the said Term Loan was

repayable in 60 monthly installments commencing after gestation

period of six months. The Plaintiff further submits that the gestation

period of six months was to be commenced from the date of

disbursement. The loan was disbursed on 22.12.2015. The repayment

had thus commenced from six months after 22.12.2015. The first

monthly installment was to be paid by the Defendants on 23rd June,

2016 and last of such installment was/is payable on 23rd June, 2021.

Therefore, the cause of action is continuing and the present suit is

within time. Without prejudice to the foregoing submissions, the

Plaintiff submit that as shown in the statement of account, apart

from amount paid by way of transfer of funds from saving account,

the Defendants have made various part payments towards the

repayment of the amount due under the said loan and last of such

payment was made by the Defendants on 27th July, 2017 and

 9

therefore, the present suit is within time. Without prejudice to the

foregoing submissions, the Plaintiff submit that the entire loan

amount was recalled by the Plaintiff vide their recall notice dated

20th December, 2018. Therefore, the cause of action arose after 20th

December, 2018. The Plaintiff, therefore, submits that for the reasons

set out hereinabove the claim of the Plaintiff is not barred by the

Law of Limitation and the present suit is being filed within time.

21. The Plaintiff will rely upon the documents a list whereof is annexed

hereto.

22. The Plaintiff has not received any caveat from the Defendants in the

above matter.

23. The Plaintiff has not filed any other suit, application or any other

legal proceeding in any court of law for recovery of the amounts

claimed herein except the present suit.

24. The Plaintiff, therefore, pray ;

(a) that the Defendants be ordered and decreed to pay to

the Plaintiff a sum of Rs. 4,97,877/- (Rupees Four

Lakhs Ninety Seven Thousand Eight Hundred And

Seventy Seven only) due under the said Term Loan as

per the particulars of claim being Exhibit “F” annexed

hereto with further interest thereon at the rate of 12 %

p.a. with monthly rests plus 2% penal interest from

22nd January, 2019 till payment and/or realization.

(b) that it be declared that the amounts mentioned in

prayer clause (a) is duly secured by a valid and

subsisting hypothecation of goods, equipments,

machineries, Book-Debts etc. described in Exhibit “B”

annexed hereto.
 10

(c) that the said hypothecated securities be ordered to be

sold and/or realized by and under the orders and

directions of this Hon’ble Court and the net sale

proceeds / realization thereof be ordered to be paid to

the Plaintiff towards their claim herein.

(d) that pending the hearing and final disposal of the suit,

a proper and fit person be appointed as a Receiver in

respect of the said hypothecated securities in Exhibit

“B” hereto with all powers under Order XL Rule 1 of

the Code of Civil Procedure, 1908, including the power

to sell the said hypothecated securities and to recover

and to pay the net sale proceeds/ recoveries and/or

realizations thereof to the Plaintiff towards their claim

in the suit.

(e) that pending the hearing and final disposal of the suit,

the Defendants, their servants, agents and /or any other

person or persons claiming through or under them be

restrained by an order of injunction of this Hon’ble

Court from parting with possession, selling, disposing

off, transferring, encumbering the said hypothecated

securities described in Exhibit “B” hereto and/ or

creating any third party rights or interest of whatsoever

nature in respect thereof.

(f) that ad-interim and interim reliefs in terms of payer

clause (d) and (e) above be granted.

(g) that the Defendants be ordered and decreed to pay to

the Plaintiff the cost of the suit.

 11

(h) that such further and other reliefs as this Hon’ble

Court may deem fit and proper be granted in favour

of the Plaintiff and against the Defendants.

M/s. S. S. Malbari & Co.

Proprietor
Advocate for the Plaintiff. Plaintiff.

VERIFICATION

I, Mr. ABC , of Indian Inhabitant, the Asst. Manager and duly

Authorised Representative of the Plaintiff abovenamed, declare that what is

stated in the paragraphs nos. 1 to 10, 18 & 21 are true to my own knowledge

based on the records of the Plaintiff and what is stated in the remaining

paragraphs nos. 11 to 17, 19, 20, 22 & 23 is stated on information and beliefs,

and I believe the same to be true.

Declared at Thane )

This___ day of April, 2020. ) Plaintiff.

M/s. S. S. Malbari & Co.

Proprietor
Advocate for the Plaintiff
 12

IN THE COURT OF CIVIL JUDGE (JUNIOR DIVISION) THANE

AT THANE

REGULAR CIVIL SUIT NO. _________ OF 2020

Yes Bank …. Plaintiff.

Versus

M/s. M. S. Telecom Systems & Services ….. Defendants.

& Anr.

Affidavit in support of the Plaint

I, Mr. ABC, of Indian Inhabitant, the Asst. Manager and duly

Authorised Representative of the Plaintiff Yes Bank, Thane Branch

abovenamed do hereby solemnly affirm and say as under ;

1. I say that I am conversant with the facts of the above case and able

to depose the same.

2. I say that the Plaintiff has filed the present suit for recovery of an

aggregate amount of Rs. 4,97,877/- (Rupees Four Lakhs Ninety Seven

Thousand Eight Hundred And Seventy Seven only)and for enforcement

of the hypothecated securities as more particularly set out in the said

suit. I hereby repeat, reiterate and confirm what is stated in the suit

and reproduce the same herein verbatim so as to form part of this

affidavit on my part.

3. I say that the for the reasons set out in the said Plaint, I pray that

the reliefs as prayed in the above suit be granted and the present

suit filed by the Plaintiff be decreed as prayed and a decree be

 13

accordingly passed in favour of the Plaintiff and against the

Defendants.

Solemnly affirmed at Thane )

Dated this ______day of April, 2020 ) Before Me,

For M/s. S. S. Malbari & Co.

Proprietor
Advocate for the Plaintiff.

VERIFICATION

I, Mr. ABC, of Indian Inhabitant, the Asst. Manager and the

Constituted Attorney of the Plaintiff abovenamed, solemnly affirm that

what is stated in the foregoing affidavit is true and correct and I believe

the same to be true.

Solemnly declared at Mumbai )

Dated this _____ day of April, 2020. ) Before me.

M/s. S. S. Malbari & Co.

Proprietor
Advocate for the Plaintiff.
 14

I/we am/are not a member /members of The

Welfare Fund therefore stamp of Rs.2 is/are
not affixed herewith.

VAKALATNAMA

IN THE COURT OF CIVIL JUDGE (JUNIOR DIVISION) THANE

AT THANE

REGULAR CIVIL SUIT NO. _________ OF 2020

Yes Bank, )

a Body Corporate constituted under the )

Banking Companies (Acquisition and Transfer )

of Undertakings ) Act, 1980 having its Head )

Office at Yes bank Tower, Elphinstone , )

Mumbai- 400 013 and having its Thane (W) )

Branch at Shop Nos. 2 & 5, Mangal Murti )

Co-op. Housing Society Ltd., Ram Maruti Road, )

Naupada, Thane (West), through its Assistant )

Manager Mr. ABC. ) …. Plaintiff.

Versus

1. M/s. M. S. Telecom Systems & Services, )

a sole proprietary firm carrying on the business )

at Kapurbawdi, Thane (West) – 400607. )

2. Mr. Anand Maruti Patil, )

of Indian Inhabitant residing at Galaxy Packers, )

Ghatla Village Road, Near Amar Cinema, )

Jani Industrial Estate, Chembur, )

 15

Mumbai – 400071. ) …..Defendants.

We, Yes Bank, the Plaintiff abovenamed in the above matter do

hereby appoint and nominate M/s. S. S. Malbari & Co. to Appear and Act for

me/us as my/our Advocate/s in the above matter.

In witness whereof we have set and subscribed our hands to this

writing at Thane this ____day of April, 2020.

Witness:

ACCEPTED :
For M/s. S. S. Malbari & Co.

Proprietor
Advocates for the Plaintiff Plaintiff
 16

IN THE COURT OF CIVIL JUDGE (J.D.), THANE

AT THANE

REGULAR CIVIL SUIT NO. _________ OF 2020

Yes Bank …. Plaintiff.

Versus

M/s. M. S. Telecom Systems

& Services and Anr. ….. Defendants.

P L A I N T
--------------------------------------------------------------
Dated this ____ day of April, 2020.

M/s. S. S. Malbari & Co.

Advocates for the Plaintiff,