Debts Recovery Tribunals and Appellate Tribunals
BANK OF INDIA vs M/S R R WORLD LIMITED on 14 August 2026
Date of filing : 30.10.2013
Decided on : 14.08.2026
**IN THE DEBT RECOVERY TRIBUNAL-I AT MUMBAI
TRANSFER ORIGINAL APPLICATION NO. 738 of 2016**
BANK OF INDIA, a Banking Company incorporated under the Banking Companies (Acquisition & Transfer of Undertakings) Act V of 1970 and a Banking Company as defined in Section 2(e) of Recovery of Debts to Banks and Financial Institutions Act, 1993 and having its Head Office at "Star House", C-5, "G" Block, Bandra-Kurla Complex, Bandra (East), Mumbai 400 051 and one of its Branch Office at Turner Road, 21/22, "Cassias", Turner Road, Bandra (West), Mumbai 400 050 through its Assistant General Manager Shri B. V. Ramakrishna, Constituted Attorney.
...Applicant
VERSUS
1. M/s. R.R. World Limited, a company incorporated under the Indian Companies Act and having its Office at Plot No. C-1, Survey No. 196, Paiki, Village Sonali, Bhiwandi, Dist. Thane 421 302.
2. Mr. Rajesh Suresh Bhojani, Age Adult
Indian Inhabitant, residing at 201 & 202, 2nd Floor, Building No. 3. Gardenia Breezy Corner Complex. Mahavir Nagar, Kandivali (West). Mumbai 400 067.
3. Mrs. Rupal Rajesh Bhojani, Age Adult, Indian Inhabitant, residing at 201 & 202, 2nd Floor, Building No. 3, Gardenia Breezy Corner Complex. Mahavir Nagar, Kandivali (West), Mumbai 400 067.
...Defendants.
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Counsel for the Applicant : Advocate Prashant Shinde i/b Anant Shinde and Co.
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.96,90,328/- with future interest thereon from the date of presentation of the Transfer Original Application till payment/realization.
2. 2. The Defendants were granted a Mortgage Overdraft/Loan Facility of Rs.69.55 Lakhs and Additional Loan Facility of
Rs.6.75 Lakhs vide sanction letter dt.26.05.2011 as specified in para no.5.ii of the Transfer Original Application and on them executing loan and security documents.
3. Defendants created a mortgage the property viz., Flat No. 202, 2nd Floor, Building No. 3, Gardenia Breezy Corner Complex, Sector VI, Mahavir Nagar, Kandivali (West), Mumbai 400 067, in favour of the applicant to secure the loan.
4. Despite the undertaking effected, Defendants 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 31.03.2012.
5. Despite issuance of letters, personal visits, telephonic conversation and reminders the Defendant 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.
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 30.10.2013. Defendants were duly served with the summons for appearance on 22.09.2014 & 05.01.2015 and Transfer Notice on 06.05.2026. Despite receipt of summons and Transfer Notice, the defendants did not appear. They had remained absent without any representation for them and so, they were set at exparte.
7. The applicant filed an affidavit (exhibit-12) in lieu of examination in chief through Ms. Madhavi Sharma, Chief 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.
8. Accordingly, the Transfer Original Application was filed for the recovery of Rs.88,52,118/- under Mortgage Overdraft/Loan Facility and Rs.8,38,210/- under Additional Overdraft Loan, aggregating a sum of Rs.96,90,328/- with further interest @15.75% p.a with monthly rests 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, 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 to 3 are held liable jointly and severally to pay to the Applicant Bank within two months a sum of Rs.88,52,118/- under Mortgage Overdraft/Loan Facility and Rs.8,38,210/- under Additional Overdraft Loan, aggregating a sum of Rs.96,90,328/- with further interest @15.75% p.a 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. 202, 2nd Floor, Building No. 3, Gardenia Breezy Corner Complex, Sector VI, Mahavir Nagar, Kandivali (West), Mumbai 400 067 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 immovable 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.
A handwritten signature or mark, possibly initials, located below paragraph c.
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 :14.08.2026.
(Dictated to my Stenographer, transcribed by him, corrected and signed by me and pronounced in open forum on 14.08.2026).
Place:- Mumbai Date:- 14.08.2026
Presiding Officer, DRT-1, Mumbai (Sreekala Suresh)