Debts Recovery Tribunals and Appellate Tribunals
ICICI BANK LIMITED vs HERA DAVER on 21 February 2024
Registered on: 10.12.2014
Decided on: 21.02.2024
IN THE DEBT RECOVERY TRIBUNAL-I AT MUMBAI
TRANSFER ORIGINAL APPLICATION NO. 809 of 2016
(OA No. 775/2014 is Transferred from DRT-III, Mumbai &
Registered as TOA No. 809/2016)
ICICI
BANK
LIMITED,
A
company
incorporated under the provisions of the companies Act, 1956 and licensed as a bank under the Banking Regulations Act, 1949 having its registered office at “Landmark” Race Course Circle, Vadodara- 390007 and having its Corporate Office at, ICICI Bank Towers, Bandra Kurla Complex, Bandra, Mumbai 400 051
Also at 248, Andheri Kurla Road, J. B. Nagar, Andheri East Mumbai- 400 059.
…. APPLICANT
VERSUS
1. HERA MINOO DAVER M/s Samco
83/A LBM Compound Opp A C Market,
Tardeo Mumbai- 400 034
Also at Flat No. 701, 702, 703 & 704 Anand Kawach Apartment, Next to Runwal Nagar, Panchapakhadi Village, Next to Eastern Express Highway, Thane- 400 034
2. GIRISH KUMAR SODHA Guarantor
502, Bldg No. 9, Shree Chatrapathi Shivaji, Ganesh Nagar Road, Mhada, Khandivali, Mumbai- 400 067.
… DEFENDANTS
____________________________________________
Counsel for the Applicant : Advocate Pooja Gupta Counsel for the Defendants : 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 Defendants 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. 809/2016. The OA has been filed by the Applicant for recovery of Rs. 63,80,351.84 (Rupees Sixty Three Lakh Eighty Thousand Three Hundred Fifty One and Paise Eighty Four Only) along with interest @ 10.25 % p.a. with monthly resets including @ 24% penal interest from the date of filing of application till its realisation.
2. Facts as succinctly set out in the present OA/TA are that Defendant No. 1 is an individual and Defendant No. 2 is a Guarantor. It is stated that in the year, 2007, Defendant No. 1 approached the Applicant for availing a Home Loan. Pursuant to the said request Applicant, agreed to grant a sum of Rs. 63,80,351.84 for purchase of home against its mortgage with the Applicant they availed the facility to the Defendant No. 1. The said loan was to be repaid in 120 equated monthly installments of Rs. 43,395.
3. In consideration of sanction home loan, Defendant No. 2 executed loan/ credit facility application and requisite documents in the capacity of Guarantor.
4. However, after availing the aforesaid home loan, the Defendants neglected and defaulted in paying the outstanding dues. Hence, the present OA has been filed.
5. Notice was issued to the Defendants. Despite service, none appeared for the Defendant No. 1 & 2 nor filed the WS thus, they were proceeded ex-parte vide order dated 22.08.2022.
6. The Applicant Bank has produced all the Original Loan documents and other relevant documents along with their Claim Affidavit filed on 10.08.2017 Debt Manager Parikshit Narvekar.
7. I have heard the Ld. Counsel for the Applicant Bank and perused the record.
8. The witness of 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 and the witness has duly proved all these documents as against the defendants. In my view there is no question of disbelieving the evidence led by the Applicant Bank and the Applicant Bank has proved its case beyond reasonable doubt. The liability of Defendant No. 1 & 2 is joint and several.
9. In view of the submission made herein above the Original Application filed by the Applicant Bank deserves to be allowed against the Defendant No. 1 & 2.
10. The Applicant claiming penal interest @ 24% p.a. with respect of home loan, however, the same is hereby declined.
O R D E R
(i) I allow the present O.A. and direct the Defendant No. 1 & 2, to pay to the Applicant, jointly and severally, within a period of 60 days, a sum of 63,80,351.84 (Rupees Sixty Three Lakh Eighty Thousand Three Hundred Fifty One and Paise Eighty Four Only) along with interest @ 10.25 % p.a. from the date of filing of application till its realisation.
(ii) Failing which the aforesaid amount shall be recovered from the sale of mortgaged property, immoveable assets as well as other personal moveable of the Defendants.
(iii) Defendants are hereby directed not to deal with their properties till further direction of Ld. Recovery Officer.
(iv) Defendants 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 : 21.02.2024
Presiding Officer, DRT-1, Mumbai.
Tjs/-