IN THE COURT OF CIVIL JUDGE CLASS - I

BHOPAL
RCS No. Of 2022

The Karnataka Bank Limited

a banking Company incorporated under

Indian Companies Act 1913, having
Registered Office and Head Office at
Mahaveera Circle, P.B. No. 599, Kankanady,
Mangaluru – 575002 (Karnataka) and a branch
Office among others at HIG-13, Ground Floor,
Opposite Prgati Petrol Pump, Near Sanjay
Prakashan, Shivaji Nagar, Bhopal-462016
(Madhya Pradesh) represented by its Senior
Branch Manager Shri Rajesh K Son of
Chittranjan K.

- Plaintiff
Versus
Shri Manish Ahirwar
(Aged about ___Years)
S/o Shri Bhagwan Das Ahirwar
R/o Plot No. 01,
Shop No. 16,
K.K. Plaza, Zone-II,
M.P. Nagar,
Bhopal– 462011
(Madhya Pradesh)

- Defendant

SUIT FOR RECOVERY

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 Rs.6,03,120.61 Paise
(Rupees Six Lakhs Three Thousand One Hundred Twenty and
Sixty One Paise Only)

Court Fees Rs.________/-

The Plaintiff, respectfully, files this suit, as under:-

1) That the Plaintiff is a Banking Company incorporated under

Indian Companies Act 1913, having Registered Office and Head
Office at Mahaveera Circle, P.B. No. 599, Kankanady,
Mangaluru – 575002 (Karnataka) and a Branch Office among
others at HIG-13, Ground Floor, Opposite Prgati Petrol Pump,
Near Sanjay Prakashan, Shivaji Nagar, Bhopal-462016 (Madhya
Pradesh) which is doing day-to-day banking business of
Plaintiff.

2) That the Defendant Shri Manish Ahirwar S/o Shri Bhagwan

Das Ahirwar is residing at Plot No. 01, Shop No. 16, K.K. Plaza,
Zone-II, M.P. Nagar, Bhopal– 462011 (Madhya Pradesh)

3) That the Defendant above named had approached Plaintiff

Bank and requested for Term Loan facility to To Set Up of
Internet Café for his business vide an Application dated
____________ and accordingly, the Plaintiff Bank after perusal
of the various documents submitted by Defendant have
Sanctioned on 19th August, 2016 Term Loan Facility to the
Defendant to the tune of Rs.8,10,000/- (Rupees Eight Lakhs Ten
Thousand Only) as per terms and conditions as mentioned in
the Sanction Letter.

4) That in consideration of the Plaintiff Bank having agreed to

grant/ sanction the Term Loan facility of Rs.8,10,000/- bearing
No.1277001800030201 the Defendant as Borrower had executed

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the following documents in favour of the Plaintiff Bank on 22 nd
August, 2016:-

(i) A Term Loan Agreement executed by the Defendant

whereby the Defendant has agreed to repay the
amount advanced to Defendant with interest thereon at
1.5% per annum Marginal cost of funds based lending
Rate (MCLR) for overnight 6 months compounded
monthly, current MCLR being 9.20% in case of non-
payment of installments and/or any interest by the due
date, such arrears shall bear overdue interest at 5% per
annum compounded monthly, which shall be
repayable in 84 (Eighty Four) Equated Monthly
Installments of Rs.13,114/- each commencing from 22nd
March, 2017 in respect of said Term Loan.

(ii) Hypothecation Agreement was executed by Defendant

whereby in consideration of Plaintiff Bank having
agreed to grant Secured Term Loan to the tune of
Rs.8,10,000/- the Defendant charged / hypothecated by
way of first charge in favour of the Plaintiff Bank the
movable properties belonging to his business,
Hypothecation of Office Furniture’s & fixtures
machinery & equipment Including multimedia
desktop, computer, scanner laser printer, digital multi-
functional colour printer & Black & White printer, split
air conditioner, attar kit etc. situated at Shop No. 16,
K.K. Plaza, Zone-II, M.P. Nagar, Bhopal from the
financial assistance granted by the Plaintiff Bank

(iii) Consent Letter from the Borrower, was executed

by Defendant on 22nd August, 2016 whereby the
Defendant has authorised the Applicant Bank for

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 disclosure by the bank for information and data
relating to the said facility enjoyed by the
Defendant.

(iv) A Declaration was executed on 22nd August, 2016 by

the Defendant whereby the Defendant assured the
Plaintiff Bank that he had not availed credit facilities
with any other banks/ financiers and shall not open any
account with any other bank / other credit institutions
and the bank shall be at liberty to withdraw or recall all
the credit facilities in case of default.

5) That the Defendant has Hypothecated of Office Furniture’s &

fixtures machinery & equipment Including multimedia
desktop, computer, scanner laser printer, digital multi-
functional colour printer & Black & White printer, split air
conditioner, attar kit etc. situated at Shop No. 16, K.K. Plaza,
Zone-II, M.P. Nagar, Bhopal from the financial assistance
granted by the Plaintiff Bank.

6) That upon execution of the above documents and assurances

given by the Defendant, the Plaintiff Bank have disbursed the
above facility to the Defendant.

7) That punctual servicing of interest and timely re-payment of

Principal was the essence of the Loan Agreement and the
Defendant had promised, assured and represented to the
Plaintiff that the regular payments will be made accordingly.

8) That since the payment were not made in terms of the loaning
documents the Plaintiff Bank by its letter dated __________ had
recalled the entire Term Loan facility granted to the Defendant.

9) That despite giving them the maximum and reasonable

opportunities for making repayments, the defendant
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 intentionally and deliberately failed and neglected to repay the
entire balance outstanding of the said loan account and had
also failed to repay the Temporary Overdraft Facility granted to
the Borrower in the stipulated time of 30 days as a result the
said account was classified as a Non-Performing Asset (NPA)
on ______________ as a result the Plaintiff Bank through its
Counsel, Shri Hans Raj Mutreja vide Notice dated _______ 2022
have finally called upon the Defendant to make repayment of
the outstanding amounts of Rs.6,03,120.61 Paise (Rupees Six
Lakhs Three Thousand One Hundred Twenty and Sixty One
Paise) Only due as on 12th May, 2022 but the Defendant failed to
take sufficient and fruitful steps to adjust the balance
outstanding amount of the said Term Loan Account and hence
the suit against them is filed by the Plaintiff Bank.

10) That the Plaintiff says that in the eventualities which has
happened, it is entitled to make demand for repayment of the
total outstanding amount, which the Defendant is liable.

11) That the Plaintiff says that in respect of the aforesaid Term
Loan Facility a sum of Rs.6,03,120.61 Paise (Rupees Six Lakhs
Three Thousand One Hundred Twenty and Sixty One Paise)
together with interest as on ___, 2022 which the Defendant is
liable to pay and is further liable to pay interest thereon from
__________ at the rate of @ _____% (_________________) against
Term Loan Facility per annum compounded monthly subject to
directives of Reserve Bank of India from time to time from the
date of filing of this suit and to the date of full and final
settlement of the entire outstanding amount including other
costs, expenses and charges incurred during the pendency of
this suit.

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12) That the Plaintiff Bank is maintaining the loan account and
overdraft account in the regular course of his business and both
the facilities were availed by the Defendant on the said
Business only, hence this suit is filed for recovery of dues
against both the facilities availed by the Defendant. A true
extract of the said accounts is produced with the Plaint.

13) That the Plaintiff will rely on the documents which are filed
herewith and the Plaintiff also files a copy of statement of
accounts of the said Loan Accounts with the list of documents
separately.

14) That the cause of action accrued to the plaintiff firstly on 22 nd

August, 2016 when the Defendant has availed the said Loan,
and further on 23rd May, 2019 & 4th February, 2022 when the
Defendant had Acknowledged his Debts towards the Plaintiff
Bank and further on each and every day when the interest
became due and thereafter on each subsequent dates when the
Loan Accounts were not regularised and lastly on__________
when the final demand notice was sent and is continuing till
date.

15) That the Defendant is resident of Bhopal and the Loan facility
has been availed from the Plaintiff branch at HIG-13, Ground
Floor, Opposite Prgati Petrol Pump, Near Sanjay Prakashan,
Shivaji Nagar, Bhopal and therefore, this Hon'ble Court have
got jurisdiction to try and decide the suit.

16) That the suit is for recovery of Rs.6,03,120.61 Paise (Rupees Six
Lakhs Three Thousand One Hundred Twenty and Sixty One
Paise) and on which Court Fees of Rs. _______/- (Rupees
_________________Only) is annexed herewith.

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17) That the suit is filed from the date of execution of initial
documents dated on 22nd August, 2016 and further execution of
acknowledge of debt on 23rd May, 2019 & 4th February, 2022 and
further on each and every day when the interest became due from
till date and thereafter on each subsequent dates when the Loan
Accounts were not regularised and lastly on__________ when
the final demand notice was sent as well as on the basis of
continuing guarantee and thus the suit is filed within the period of
limitation.

18) That the Plaint is signed and verified by Shri Rajesh K Senior
Branch Manager of Plaintiff's Shivaji Nagar Branch, Bhopal,
who is principal officer of the Plaintiff's and also a Power of
Attorney holder of the Plaintiff and accordingly he is empowered
and authorised to sign and verify and present the Plaint.

19) That Plaintiff, therefore, prays for the following relief’s:-

a) That a decree be passed in respect of the Overdraft

Facility a sum of Rs.6,03,120.61 Paise (Rupees Six Lakhs
Three Thousand One Hundred Twenty and Sixty One
Paise Only) be passed in favour of the Plaintiff & against
Defendant.

b) That a decree for interest at the rate of @ _____5%

(____________________l) compounded monthly towards
Overdraft Facility and Base Rate +_______ 9.50%
(presently Base Rate being _________10.75%) towards
Temporary Overdraft Facility per annum Compounded
Monthly facility subject to directives of Reserve Bank of
India from time to time compounded since ___________
and to the date of full and final settlement of the entire
outstanding amount be also passed in favour of the
Plaintiff and against the Defendant.

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 c) That a decree to attach the Stocks and Garments
Hypothecated with the Plaintiff Bank, whether lying
loose or in cases, at site or in transit and further sale
thereof through auction with Specific Orders to adjust
Sale proceeds thereof against the balance outstanding
amount may also be passed in favour of the Plaintiff and
against the Defendant concerned.

d) That the cost of the suit be also decreed in favour of the

Plaintiff and against the Defendant.

e) Personal movable and immovable properties of the

Defendant are attached for sale for adjustment of the
dues of the Applicant-Bank.

f) Any other relief which the Hon'ble Court deems fit be

also decreed in favour of the Plaintiff.

PLAINTIFF
VERIFICATION

I, Shri Rajesh K, do hereby verify that the contents of

Para Nos. 1 to 18 and prayer clause Para No 19 is based
on Plaintiff's record which are true and what is stated on
remaining paras are based on legal advice which I believe
to be true.

Verified and signed on this day of _____October, 2022

here at Bhopal.
PLAINTIFF
Typed in my office
(Hans Raj Mutreja)
Counsel for Plaintiff

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 SCHEDULE OF PROPERTY

Plant & Machinery : Movable properties belonging to

business Hypothecated of Office
Furniture’s & fixtures machinery &
equipment Including multimedia
desktop, computer, scanner laser
printer, digital multi- functional
colour printer & Black & White
printer, split air conditioner, attar
kit etc. situated at Shop No. 16,
K.K. Plaza, Zone-II, M.P. Nagar,
Bhopal

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