Debts Recovery Tribunals and Appellate Tribunals
BANK OF BARODA vs POOJA MAHESH PANCHAL on 29 August 2025
Date of filing : 07.08.2023
Decided on : 29.08.2025
**IN THE DEBT RECOVERY TRIBUNAL-I AT MUMBAI
TRANSFER ORIGINAL APPLICATION NO. 488 of 2023**
BANK OF BARODA, a body Corporate,
Constituted under the Banking Companies
(Acquisition and Transfer of Undertakings)
Act V-1970, having their Head Office at
Mandvi, Baroda, Gujarat State and their
Branch Office Vakola Branch, Shree
Kailash Co-op Hsg. Soc. Ltd, Nehru Road, Vakola Bridge Vakola Santacruz (East)
Mumbai 400 055 Through Branch
Manager Mr. Navin Vittal Karkal.
...Applicant
VERSUS
MRS. POOJA MAHESH PANCHAL Flat No.
704, B wing, 7th floor, New Mavis tower, Sector 3 Shree Nagar, Thane Maharashtra
400604.
...Defendant
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Counsel for the Applicant : Advocate Purnima Pandit.
Counsel for the Defendant : Nil - Defendant - Ex -parte
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JUDGMENT
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.25,43,191.07/- with future interest thereon from the date of presentation of the Original Application till payment/realization and to enforce the mortgaged securities.
2. 2. The Defendant had availed a car loan, to the tune of Rs.32.97 Lakhs from the applicant on him signing and executing the loan and securities document on 30.07.2018 as set out in paragraph no. 5.I of the Original Application.
3. 3. Defendant created the hypothecation of the vehicle with registration number MH04JM0044 vide declaration cum undertaking cum authority dt.02.08.2018 to secure the loan.
4. 4. Despite the undertaking effected by Defendant they 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.
5. 5. Since the defendant failed to make the repayment, the applicant was left with no other alternative other than to file the Original Application which was presented on 07.08.2023. Defendant was duly served with the summons for appearance on 26.09.2024. Despite receipt of summons, the defendant did not appear. She had remained absent without any representation and so, she was set at exparte.
6. 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.
7. The applicant filed an affidavit (exhibit-15) in lieu of examination in chief through Mr. Vinay Bhushan, 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-10.
8. Accordingly, the Original Application was filed for the recovery of Rs.25,43,191.07/- with further interest @ 10.55% p.a. and other expenses for the period from the date of filing of this O.A. till payment/realization.
9. A scrutiny of the averments in the 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.
A handwritten signature in blue ink, consisting of a stylized 'J' or 'V' shape followed by a long diagonal stroke extending towards the bottom right.
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. O.A. stands allowed with cost and the Defendant is held liable to pay to the Applicant Bank within two months a sum of Rs.25,43,191.07/- with further interest @ 10.55% 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 hypothecation of the vehicle with registration number MH04JM0044 and in case of shortfall, the same shall be recovered from the sale of the movable and immovable properties of the Defendant.
- b. Defendant is directed to declare, on oath, to the Recovery Officer, Debts Recovery Tribunal - I, Mumbai, both her 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 her 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 : 29.08.2025.
Place:- Mumbai Date:- 29.08.2025
Presiding Officer, DRT-1, Mumbai (Sreekala Suresh)
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