Debts Recovery Tribunals and Appellate Tribunals
IDBI BANK vs Manali on 30 April 2026
Date of filing : 24.11.2022
Decided on :30.04.2026
**IN THE DEBT RECOVERY TRIBUNAL-I AT MUMBAI
TRANSFER ORIGINAL APPLICATION NO. 311 OF 2023**
IDBI Bank Ltd., A company incorporated and registered under Indian Companies Act, 1956 [1/1956]and also a banking company under section 5[C] of Banking Regulation Act of 1949 [10/1949], having its head office at IDBI Tower, WTC Complex, Cuffe parade, Mumbai 400 005 and having one of its branches amongst other places at Retail Asset Centre, RAC-Ambernath, Plot No.44, Ground Floor, Sitai Sadan, Suryodaya Co-Op Hsg Society, Ambernath Station Road, Ambernath (East)-421501; And Retail Recovery Department, IDBI Zonal Office, Mittal Court, B-wing, 2nd Floor, Nariman Point, Mumbai - 400 021 through the Dy Gen. Manager and Authority Holder Shri Sanjay Valecha.
...Applicant
**VERSUS**
1. Manali Rajan Waigankar Female, adult, Indian Inhabitant, Having address
at Room No.201, Shubh Co-Operative Housing Society, Jijai Nagar, Goggrasswadi, Dombivali, Kalyan, Maharashtra 421201. AND Flat No.603, 6th Floor, C-Wing, Vitthal Plaza Complex Village - Sagaon, Taluka - Kalyan. Dist - Thane.
2. Shradha Rajan Waigankar Female, adult, Indian Inhabitant, Having address at Room No.201, Shubh Co-Operative Housing Society, Jijai Nagar, Goggrasswadi, Dombivali, Kalyan, Maharashtra 421201. AND Flat No.603, 6th Floor, C-Wing, Vitthal Plaza Complex, Village - Sagaon, Taluka - Kalyan. Dist - Thane.
...Defendants
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Counsel for the Applicant : Advocate A. W. Barve .
Counsel for the Defendant : NIL- Defendant 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.21,67,593/- with future interest thereon from the date of presentation of the Transfer Original Application till payment/realization and to enforce the mortgaged securities.
1. 2. The Defendants were granted a Home Loan facility of Rs.20,00,000/- vide the sanction letter dated 16.08.2017 as specified in para no.5.5 of the Transfer Original Application and on them executing loan and security documents.
2. 3. Defendants mortgaged the property viz., Flat no. 603, 6th floor, C wing area of Flat admeasuring 535 Sq. feet (Built up) in the building known as Vitthal Plaza constructed on land bearing Old survey No. 15 Hissa No. 2A Situated at Village village Sagaon Taluka Kalyan, Dist. Thane in favour of the applicant to secure the loan.
3. 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.
4. 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.
A handwritten signature in black ink, appearing to be a stylized script or initials.
1. 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 24.11.2022. Defendants were duly served with the summons through paper publication for appearance on 22.07.2024 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.
2. 7. The applicant filed an affidavit (exhibit-17) in lieu of examination in chief through Mr. Haresh Goheja, Asst. Gen. Manager of the bank, had produced documents, which are admitted in evidence, read, recorded and exhibited and were marked as AW-1 to AW-18.
3. 8. Accordingly, the Transfer Original Application was filed for the recovery of Rs.21,67,593/- with further interest @8.35% p.a alongwith @2% penal interest and other expenses for the period from the date of filing of this T.O.A. till payment/realization.
4. 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 unrebuted, shows that there is no reason to reject the claim made by the applicant bank.
10. In view of the observations made hereinabove, Transfer 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.21,67,593/- with further interest @8.35% p.a alongwith @2% penal interest and other expenses from the date of filing of this T.O.A. till the date of realization; failing which the aforesaid amount shall be recovered from the sale of mortgage property viz., Flat no. 603, 6th floor, C wing area of Flat admeasuring 535 Sq. feet (Built up) in the building known as Vitthal Plaza constructed on land bearing Old survey No. 15 Hissa No. 2A Situated at Village village Sagaon Taluka Kalyan, Dist. Thane and in case of shortfall, the same shall be recovered from the sale of the movable and immovable properties of the Defendants.
- b. Defendants are directed to declare, on oath, to the Recovery Officer, Debts Recovery Tribunal – I, Mumbai, both their moveable and immoveable assets for the purpose of attachment and sale for realizing the shortfall, if any.
- 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.
- 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 :30.04.2026.
(Dictated to my Stenographer, transcribed by him corrected and signed by me and pronounced in open forum on 30.04.2026)
Place:- Mumbai Date:- 30.04.2026
Presiding Officer, DRT-1, Mumbai (Sreekala Suresh)