Debts Recovery Tribunals and Appellate Tribunals
ICICI BANK LIMITED vs MOHD WASIK AKMAL KHAN on 12 January 2024
Registered on: 05.11.2015
Decided on: 12.01.2024
IN THE DEBT RECOVERY TRIBUNAL-I AT MUMBAI
TRANSFER ORIGINAL APPLICATION NO. 923 of 2016
(OA No. 718/2015 is Transferred from DRT-III, Mumbai &
Registered as TOA No. 923/2016)
ICICI Bank Limited, Having its registered office at: Landmark, Race Course Circle, Vadodara- 390007 and inter alia a branch office at: ICICI Bank Towers, South Towers, 4th Floor, Bandra Kurla Complex, Bandra East, Mumbai 400 051.
…. APPLICANT
VERSUS
MR. MOHD WASIK AKMAL KHAN, Adult
Prabhat Centre Premises Chs Office No 64 Sect 1
a Cbd Navi Mumbai- 400 614
… DEFENDANT
____________________________________________
Counsel for the Applicant : Advocate Indrajeet Deshmukh i/b Vidhi Partners Counsel for the Defendant : Already Ex-parte
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J U D G M E N T
1. The Original Application has been filed by the Applicant against the Defendant before Ld. DRT-III, Mumbai, which stands transferred to this Tribunal as per the Govt. Notification dated 26/09/2016 and registered as TA No. 923/2016. The OA has been filed by the Applicant for recovery of Rs. 23,16,546/- (Rupees Twenty Three Lakh Sixteen Thousand Five Hundred Forty Six Only) under the overdraft facility as on 22.11.2014 along with further interest @9.01 % as against the loan accounts.
2. Facts as succinctly set out in the present OA/TA are that on 14.12.2011, Defendant approached the Applicant for credit facility for the purpose of purchasing Commercial Vehicles as a Service Provider. Pursuant to the said request the Applicant granted Rs. 39,86,000/- to the Defendant.
3. In consideration of sanction the vehicle loan, the Defendant executed Certificate of Registration issued by the Regional Transport Officer & Irrevocable Power of Attorney.
4. However, after availing of the loan, the Defendant started defaulting in making payments, thus, the accounts were classified as NPA on 18.09.2014. Thereafter, the Applicant was constrained to recall the aforesaid facility vide its notice dated 03.11.2014 in respect of the credit facilities. Hence, the present OA has been filed.
5. Notice was issued to the Defendant. Despite service, none appeared for the Defendant nor filed the WS thus, he was proceeded ex-parte vide order dated 11.12.2017.
6. The Applicant Bank has produced all the loaning and security documents as (Exhibit A to Exhibit Q of completion of documents) such as respective letters for loans/ advances against term deposits; copy of the reversal request; copy of the FDR; statement of account; detail of mutual fund; advocate notice; particular of claim and IT certificate etc.
7. I have heard the Ld. Counsel for the Applicant Bank and perused the record.
8. The Applicant Bank has fully corroborated the averments made in the OA, even otherwise the whole case of the Applicant Bank is based on documents as (Exhibit A to Exhibit Q of completion of documents and the Applicant Bank has duly proved all these documents as against the defendant.
9. In view of the submission made herein above the Original Application filed by the Applicant Bank deserves to be allowed against the Defendant.
O R D E R
(i) I allow the present O.A. and direct the Defendant, to pay to the Applicant, within a period of 60 days, a sum of Rs. 23,16,546/- (Rupees Twenty Three Lakh Sixteen Thousand Five Hundred Forty Six Only) under the overdraft facility as on 22.11.2014 along with further interest @9.01 % as against the loan accounts.
(ii) Failing which the aforesaid amount shall be recovered from the sale of the immoveable assets as well as other personal moveable and of the Defendant.
(iii) Defendant is hereby directed not to deal with their properties till further direction of Ld. Recovery Officer.
(iv) Defendant shall also pay the cost and expenses of the OA.
(v) Recovery Certificate be issued forthwith and be sent to the Recovery Officer of this Tribunal. Copy of this order be sent to the parties as per rules. File be consigned to record.
Place: Mumbai.
(Dr. Rekha G. Dhakar) Date : 12.01.2024
Presiding Officer, DRT-1, Mumbai.
Tjs/-