Housing and Urban Development Corporation Ltd. (HUDCO) vs M/S SANGRILLA RESORTS PVT LTD on 1 May 2025

Order Sheet (continuation)

Case No. RA/2/2014

Housing & Urban Development Corporation Ltd. (Ltd.) vs.

Sangrilla Resorts Pvt Ltd.

Date of

the Order necessary

01/05/2025

Ld. Counsels Mr. Samrat Mukherjee appeared for Review Applicant.

Ld. Counsel Ms. Poetry Dutta appeared for Respondent Bank.

RA/2/2014 has been filed by the Review Applicant in the year 2014 for recalling of the exparte judgment dated 03/04/2014. This Tribunal passed exparte judgment dated 03/04/2014 which is annexed as Annexure ‘A’ by which Defendant nos. 1 to 5 are held liable to pay Rs. 35,14,519/- as on 19/02/2004

alongwith

further

interest

@

21%

from

20/02/2004 till realization. Applicant is also entitled to get the expenses of Rs. 2,59,496/- from Defendant nos. 1 to 5.

Accordingly, RC has been issued.

It is pleaded by the Review Applicant that HUDCO filed this OA on 25/07/2000 being OA/218 of 2000 praying for decretal amount of Rs. 34,72,811.27.

Defendants have filed written statement. In the written statement defendants have disputed statement of account which is fabricated. It is contended that HUDCO has credited the amount of Rs. 5.52 lakhs (credited before arriving Rs.

34,72,811.27

filed).

There

is

no

provision

of

charging

pendentilite interest in the loan as it will appear from the circular no. ERO-STS/SUP-G/2374/79 issued by HUDCO on 01/10/1997. Claim of the HUDCO is incorrect. Valuation of the mortgage property is undervalued.

Date of

the Order

necessary

It is further contended by the Review Applicant that since 2014 defendant is trying to settle the account but the Applicant Bank did not settle the account. In the year 2015 in the Review petition HUDCO filed affidavit stating that the principal outstanding is Rs.16,47,000/- plus interest charged Rs.98,91,033/- as on 31.12.2014 and the total outstanding was on 31.12.2014 Rs.1,15,38,033/-.

It is contended by the Applicant that HUDCO has sanctioned Rs. 21.29 lacs in the year 1995 wherein land was mortgaged and the valuation approximately made at Rs. 25

lakhs by the panel valuer of the OA applicant. The entire amount was released on 4 instalments as follows:

On 31.03.1195 1st Installment Rs. 7,76,000.00, On 28.09.1995 2nd Installment Rs. 6,86,000.00, On 08.02.1996 3rd Installment Rs. 4,07,000.00 and On 25.03.1996 4th Installment Rs. 3,42,000.00

Total amount is Rs. 21,99,000.00.

Out of sanction amount of Rs. 21.99 lakhs defendants paid Rs. 5.52 lakhs. Thereafter HUDCO on 25.07.2000 has filed the original application being OA No. 218 of 2000 praying for recovery of a decretal amount of Rs. 34,72,811.27.

During the proceedings of the original application the mortgaged property was sold by court through receiver and original applicant received Rs. 36 lakhs being the sale proceeds which was more than the claim amount, and Review Applicant has prayed for review of the judgment delivered on 03/04/2014.

Date of

the Order

necessary

Ld. Advocate for the O.P. Bank HUDCO objected to the application.

Review Applicant filed IA/231/2023 disclosing the fact.

O.P. Bank has filed affidavit in opposition. Review Applicant filed petition for condonation of delay of nine days. The delay condonation petition was allowed by order dated 29/08/2023.

Property has been sold at Rs. 36 lac on 28/01/2004

Applicant

filed

a

petition

for

adding

the

sum

of

Rs.

2,59,496/-expenses, cost and other things pertaining to the sale and on that date Applicant Bank was allowed to appropriate the aforesaid sale proceeds.

Applicant Bank has to issue ‘No due Certificate’ to the defendants but the proceeding continued and the exparte judgement was passed on 03/04/2014 with order that Defendant nos. 1 to 5 are held liable to pay Rs. 35,14,519/- as on 19/02/2004

alongwith

further

interest

@

21%

from

20/02/2004 till realization. Applicant is also entitled to get the expenses of Rs. 2,59,496/- from Defendant nos. 1 to 5.

The claim of the Bank has been satisfied by sale of the property and there is no outstanding due. There is apparent mistake in the exparte judgment. Exparte judgment dated 03/04/2024 is liable to be set aside. It is ordered as follows:

i)

RA/2/2014 is allowed on contest against the Respondent Bank.

Date of

the Order necessary

ii)