ICICI BANK LIMITED Vs. NIHARIKA CHHABRA

JUDGEMENT

(1.) The present appeal arises out of the impugned judgment/order dated 18th February, 2015 by which the suit for recovery filed by the Appellant/Plaintiff bank (hereinafter, "Plaintiff bank") was dismissed. The judgement of the Trial Court dismissed the suit on the ground that the original loan recall notice dated 11th February, 2014 was not filed by the Bank.

(2.) In the present appeal, notice was issued on 25th May, 2015. Initially the Respondent/Defendant (hereinafter, "Defendant") was unserved as no process fee was filed. However, thereafter, the Defendant was unserved as she had left the place. Steps were taken for serving the Defendant through publication. Service was finally recorded as having been completed by the order of the Registrar dated 9th November, 2017. Brief Background

(3.) The Defendant (hereinafter, "Defendant") approached the Plaintiff bank for financing of the purchase of a vehicle under loan-cum- hypothecation scheme for a sum of Rs.7, 25, 000 /-. The Defendant agreed to repay the loan amount in 60 equal monthly instalments (hereinafter, "EMI") of Rs.15, 870/- each. The loan was duly sanctioned and was disbursed on 15th April, 2013 to the dealer from whom the vehicle was to be purchased by the Defendant, after deducting usual processing fee and stamp duty charges. All the loan documents were executed by the Defendant.