Debts Recovery Tribunals and Appellate Tribunals
IDBI BANK vs Sachin on 13 May 2026
Date of filing : 28.04.2022
Decided on :13.05.2026
**IN THE DEBT RECOVERY TRIBUNAL-I AT MUMBAI
TRANSFER ORIGINAL APPLICATION NO. 151 of 2023**
IDBI Bank Limited, a company incorporated and registered under the companies Act 1956 (1 of 1956) and a company within the meaning of Section 2 (20) of the companies Act 2013 (Act 18 of 2013) and a banking company, within the meaning of Section 5(C) under the Banking Regulation Act 1949 and having its registered address at IDBI Tower, WTC Complex Cuffe Parade, Mumbai-400005 And having its Retail Recovery office at Mittal Court, C-Wing, 2nd Floor, Nariman Point, Mumbai- 400 021 filed through Authorised representative Mr. Sanjay Valechha, Deputy General Manager.
...Applicant
**VERSUS**
1. Mr. Sachin Shankar Yadav residing at
(i) House No. 1607/19, Seeta Bhavan,
2nd Floor, West Street, Opp Camp High School, Camp, Pune-411001
And also having address at: (ii) Aditya Bharat Gas Agency Shop No. C 4, Amit Apartment, S.no. 27/B, Sasane Nagar Hadapsar, Pune 411028 (iii) Shop No. 3 & 4, Ground Floor, Durga's Green Park, Plot No. 9, Sector 9, Panchanand, Taloja, Navi Mumbai - 410208, Taluka -Panvel, Dist.- Raigad.
2. Mrs. Rupali Sachin Yadav residing at:
(i) House No. 1607/19, Secta Bhavan, 1 2nd Floor, West Street, Opp Camp High School, Camp, Pune-411001.
And also having address at (ii) Shop No. 3 & 4, Ground Floor, Durga's Green Park, Plot No. 9, Sector 9, Panchanand, Taloja, Navi Mumbai-410208 Taluka Panvel, Dist : Raigad.
...Defendants
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Counsel for the Applicant : Advocate C. P. Ravindranath Menon.
Counsel for the Defendants : NIL- Defendants - Ex -parte
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J U D G M E N T
1. 1. This is an application under Section 19(1) of Recovery of the Debt and Bankruptcy Act, 1993 (for short, 'the 1993 Act') to recover Rs.89,17,600/- with future interest thereon from the date of presentation of the Transfer Original Application till payment/realization and to enforce the mortgaged securities.
2. 2. The Defendants were granted a Mortgage Loan 1 Facility for a sum of Rs.38,50,000/-, Loan for Insurance Premium 1 of Rs.1,73,144/- vide the sanction letter dated 13.12.2019 and granted a Mortgage Loan 2 Facility of Rs.38,50,000/- and Loan for Insurance Premium 2 of Rs.1,83,232/- vide sanction letter dated 13.12.2019 as specified in para no.5.4.i and 5.4.ii of the Transfer Original Application and on them executing loan and security documents.
3. 3. Defendants mortgaged the properties viz.,
1. a. Shop No. 4, Ground Floor, Durga's Green Park, Plot No. 9, Sector 9,, Panchanand Taloja, Navi Mumbai-410208, Taluka- Panvel, Dist. Raigad
2. b. Shop No. 3, Ground Floor, Durga's Green Park, Plot No. 9, Sector 9, Panchanand Taloja,, Navi Mumbai-410208, Taluka- Panvel, Dist. Raigad, in favour of the applicant, to secure the loan.
1. 4. Despite the undertaking effected by Defendants they had failed to regularise the account and service interest in the account. So the account remained out of order since long time resulting in it to be declared as NPA on 09.07.2021.
2. 5. Despite issuance of letters, personal visits, telephonic conversation and reminders the Defendants had failed to regularise the account. So the Applicant had caused the issuance of lawyer notice to Defendants to pay up the dues with interest.
3. 6. Since the defendants failed to make the repayment, the applicant was left with no other alternative other than to file the Transfer Original Application which was presented on 28.04.2022. Defendants were duly served with the summons for appearance on 05.12.2024 despite receipt of summons, the defendants did not appear. They had remained absent without any representation for them and so, they were set at exparte.
4. 7. The applicant filed an affidavit (exhibit-11) in lieu of examination in chief through Ms. Vyoma A. Malwankar, Manager of the bank, had produced documents, which are admitted in evidence, read, recorded and exhibited and were marked as AW-1 to AW-31.
5. 8. Accordingly, the Transfer Original Application was filed for the recovery of Rs.42,13,610/- with further interest @
9.65% p.a. plus @ 2% p.a. penal interest under Mortgage Loan-I, Rs.1,76,549/- with further interest @ 9.65% p.a. plus @ 2% p.a. penal interest under Loan for insurance premium-I, Rs.43,63,043/- with further interest @ 9.65% p.a. plus @ 2% p.a. penal interest under Mortgage Loan-II, Rs.1,91,331/- with further interest @ 9.65% p.a. plus @ 2% p.a. penal interest under Loan for insurance premium-II and other expenses for the period from the date of filing of this T.O.A. till payment/realization.
9. A scrutiny of the averments in the Transfer Original Application and an analysis of the evidence adduced by the applicant, which has gone unchallenged, uncontroverted and unrebutted, shows that there is no reason to reject the claim made by the applicant bank.
10. In view of the observations made hereinabove, Original Application filed by the applicant deserves to be allowed.
11. Hence, the following order is passed:
ORDER
a. T.O.A. stands allowed with cost and the Defendant No. 1 & 2 are held liable jointly and severally to pay to the Applicant Bank within two months a sum of Rs.42,13,610/- with further interest @ 9.65% p.a. plus @ 2% p.a. penal interest under Mortgage Loan-I, Rs.1,76,549/- with further interest
@ 9.65% p.a. plus @ 2% p.a. penal interest under Loan for insurance premium-I, Rs.43,63,043/- with further interest @ 9.65% p.a. plus @ 2% p.a. penal interest under Mortgage Loan-II, Rs.1,91,331/- with further interest @ 9.65% p.a. plus @ 2% p.a. penal interest under Loan for insurance premium-II and other expenses from the date of filing of this O.A. till the date of realization; failing which the aforesaid amount shall be recovered from the sale of mortgage properties viz.,
1. a. Shop No. 4, Ground Floor, Durga's Green Park, Plot No. 9. Sector 9,, Panchanand Taloja, Navi Mumbai-410208, Taluka- Panvel, Dist. Raigad
2. b. Shop No. 3. Ground Floor, Durga's Green Park, Plot No. 9. Sector 9, Panchanand Taloja,, Navi Mumbai-410208, Taluka- Panvel, Dist. Raigad, and in case of shortfall, the same shall be recovered from the sale of the movable and immovable properties of the Defendants.
3. b. Defendants are directed to declare, on oath, to the Recovery Officer, Debts Recovery Tribunal – I, Mumbai, both their moveable and immovable assets for the purpose of attachment and sale for realizing the shortfall, if any.
4. c. Let a Recovery Certificate be issued with a memo of cost immediately u/s 19(22) of The Recovery of Debts and Bankruptcy Act, 1993 together with the details of the properties, if any.
5. d. The Defendants are restrained from depleting, transferring, encumbering, alienating or in any way dealing with their properties/assets without first paying the claim of the Applicant Bank.
e. Copies of this judgment be sent to the parties free of cost and file be consigned to the record room.
f. Give under my hand and the seal of this Tribunal on this date :13.05.2026.
(Dictated to my Stenographer, transcribed by him corrected and signed by me and pronounced in open forum on 13.05.2026)
Place:- Mumbai Date:- 13.05.2026
Presiding Officer, DRT-1, Mumbai (Sreekala Suresh)