Debts Recovery Tribunals and Appellate Tribunals
IDBI BANK vs DATTATRAY on 31 July 2026
Date of filing : 27.06.2023
Decided on : 31.07.2026
**IN THE DEBT RECOVERY TRIBUNAL-I AT MUMBAI
TRANSFER ORIGINAL APPLICATION NO. 536 of 2023**
IDBI Bank Ltd., a company incorporated and registered under Indian Companies Act, 1956 [1/1956] and a company within the meaning of the Companies Act, 2013 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 one of its Retail Asset Center (RAC), Ambernath which has been shifted to RAC Nariman Point and Retail Recovery Department, IDBI Zonal Office, 2nd Floor, "C" Wing, Mittal Court, Nariman Point, Mumbai-400 021.
...Applicant
VERSUS
MR. DATTATRAY VASANT JADHAV
(Applicant/ Borrower) Residing at House
No. C-1, Ground Floor, Plot No. 7,
Sector-13, New Panvel, Khanda Colony,
Navi Mumbai, Maharashtra - 410206.
And Office at Hotel TDS, Adivali, Village Mumbra, Panvel Road, Rohinjan Toll naka, Javali, Adivali - 410208.
...Defendant
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Counsel for the Applicant : Advocate Akbar Rizvi.
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.37,31,105/- 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 Defendant was granted the Home Loan of Rs.30,00,000/- and Loan for Insurance Premium of Rs.48,604/- vide sanction letter dt.21.09.2019 & 05.11.2019 as specified in para no. 5.2 of the Transfer Original Application and on them executing loan and security documents.
3. 3. Defendant created a mortgage viz., Flat No. C-001, Ground Floor, "C" Wing, Raigad Co. Operative Housing Society Ltd., admeasuring 458.08 sq. ft., constructed on the Plot No. 07,
Sector 13, New Panvel (W), Taluka- Panvel, Dist. Raigad, in favour of the applicant to secure the loan.
4. Despite the undertaking effected, ~~by~~ Defendant had failed to regularise the account and service interest in the account. So the account remained out of order since long time resulting it to be declared as NPA on 08.02.2021.
5. Despite issuance of letters, personal visits, telephonic conversation and reminders the Defendant have failed to regularise the account. So the Applicant had caused the issuance of lawyer notice to Defendant to pay up the dues with interest.
6. Since defendant 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 27.06.2023. Defendant was duly served with the summons for appearance through paper publication on 09.09.2024 despite receipt of summons, the defendant did not appear. He had remained absent without any representation for him and so, he was set at exparte.
7. The applicant filed an affidavit (exhibit-15) in lieu of examination in chief through Mr. Goheja Harsh M., Manager of the bank, had produced documents, which are admitted in evidence, read, recorded and exhibited and were marked as AW-1 to AW-15.
A handwritten signature or mark, possibly a stylized letter or initials, located at the bottom center of the page.
8. Accordingly, the Transfer Original Application was filed for the recovery of Rs.36,68,776/- under Home Loan and Rs.62,329/- under Loan for Insurance Premium aggregating a sum of Rs.37,31,105/- with further interest @8.15% p.a along with penal interest @2% p.a. and other expenses from the date of filing of this T.O.A. till the date of 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, Transfer Original Application filed by the applicant deserves to be allowed.
11. Hence, the following order is passed.
ORDER
a. T.A. stands allowed with cost and Defendant is liable to pay to the Applicant Bank within two months a sum of Rs.36,68,776/- under Home Loan and Rs.62,329/- under Loan for Insurance Premium aggregating a sum of Rs.37,31,105/- with further interest @8.15% p.a along with penal interest @2% p.a. 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 property viz., Flat No. C-001, Ground Floor, "C" Wing, Raigad Co. Operative Housing Society Ltd., admeasuring 458.08 sq. ft., constructed on the Plot No. 07, Sector 13, New Panvel (W), 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 Defendant.
- b. The defendant is 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.
- c. Let a Recovery Certificate be issued with 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 defendant is 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 :31.07.2026.
(Dictated to my Stenographer, transcribed by him corrected and signed by me and pronounced in open forum on 31.07.2026)
Place:- Mumbai Date:- 31.07.2026
Presiding Officer, DRT-1, Mumbai (Sreekala Suresh)