Debts Recovery Tribunals and Appellate Tribunals
IDBI BANK vs Mamta ANUJKUMAR on 25 January 2024
Registered on : 12.05.2023
Decided on : 25.01.2024
IN THE DEBT RECOVERY TRIBUNAL-I AT MUMBAI
TRANSFER APPLICATION NO. 50 of 2023
IDBI
BANK
LIMITED,
a
company
incorporated
and
registered
under
the
companies act, 1956 and a company within the meaning of section 2 (20) of the Company Act 2013 (Act 18 of 2013) and a banking company within the meaning of section 5 (c) of the banking regulations act 1949 and having its Registered office at IDBI Tower, IDBI Bank, W.T.C. Complex Cuffe Parade, Mumbai –
400005 and amongst others Turner Road,
Bandra which has now being handled by the at Retail Recovery Department, IDBI Zonal Office, Mittal Court, C-Wing, 2nd Floor, NariPoint, Mumbai – 400021 through its authorized officer Shri. Sanjay Valechha –
Deputy General Manager.
...APPLICANT
VERSUS
MAMTA ANJUKUMAR MISHRA, an adult
Indian inhabitant having address at Flat No.1003, 10th Floor, Mirabilis Building, Sector No.R/12, near Chandivali Mahada, Police Station, Nahar’s Amrit Shakti, Saki Naka, Powai, Mumbai –
400072.
...DEFENDANTS
_____________________________________________
Counsel for the Applicant : Advocate Vinod Sakpal i/b M/s.
Milan Bhise & Co.
Counsel for the Defendant :
Ex-Parte
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J U D G M E N T
1. The present OA has been filed by the Applicant for recovery of a sum Rs.30,68,691/- (Rupees Thirty Lakh Sixty Eight Thousand Six Hundred Ninety One Only) with further interest @ 9.10% p.a. plus penal interest @ 2% p.a. from the date of filing of the present OA till its realization.
2. Facts as succinctly set out in the OA are that Defendant approached the Applicant Bank for Auto Loan of Rs.34,70,000/- for purchasing of a four-wheeler vehicle viz. 3.2 Ford Endeavour Titanium 4x4 by her application.
3. It is stated that upon the request of the Defendant, the Applicant sanction the Auto Loan upto Rs.30,00,000/- vide sanction letter dt.10.11.2017 and it is also stated that Defendants have agreed to repay the said loan within 84 monthly instalment (EMI) each of Rs.48,420/- per month.
4. In order to secure the aforesaid Vehicle Loan facility the Defendant executed the following document in favour of the Applicant Bank:-
a. Irrevocable Power of Attorney on 10.11.2017.
b. Demand Promissory Note dt.10.11.2017.
5. It is also stated that in further to secure the aforesaid facility the Defendant hypothecated in favour of the Applicant by way of exclusive and first charge on the Motor Vehicle bearing Diamond White Colour having Engine No.MAJAXXMRWAHG10587 and Chassis No. MAJAXXMRWAHG10587 together with all parts, spares, accessories and the charge by way of hypothecation was created by the Applicant on the said vehicle.
6. However, after availing the aforesaid Credit Facility, the Defendants failed to adhere to the terms and conditions of the Sanction of aforesaid Credit Facility and neglected to make the payment to the Applicant bank. Therefore, the account was declared as NPA on 04.09.2020 and further the Applicant issuing Legal Notice on 19.08.2022 and called upon the Defendants to make the payment of the outstanding dues but the Defendants failed to pay the dues. Hence, the present OA has been filed.
7. Notices were issued to the Defendants. Despite service, none appeared for the Defendants nor filed the WS thus, they were proceeded ex-parte on 09.01.2024.
8. The Applicant Bank has produced all the Original Loan documents and other relevant documents along with their Claim Affidavit filed on 15.11.2023 through its Asst. General Manager Pamreichon Shimrah.
9. I have heard the Ld. Counsel for the Applicant Bank and perused the record.
10. 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.
11. In the light of above discussions, the Original Application deserves to be allowed against the Defendant.
O R D E R
(i) I allow the present OA/TA and direct the Defendant to pay to the Applicant Bank, within a period of 60 days, a sum of Rs.30,68,691/- (Rupees Thirty Lakh Sixty Eight Thousand Six Hundred Ninety One Only) with further interest @ 9.10% p.a. plus penal interest @ 2% p.a. from the date of filing of the present OA till its realization.
(ii) Failing which the aforesaid amount shall be recovered from the sale of mortgage property and other personal moveable and immoveable assets of the Defendants.
(iii) Defendant is hereby directed not to deal with his properties till further direction of Ld. Recovery Officer.
(iv) Defendant shall also pay the cost and expenses of the OA/TA.
(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 : 25.01.2024
Presiding Officer,
DRT-1, Mumbai
SP/-