Debts Recovery Tribunals and Appellate Tribunals
CENTRAL BANK OF INDIA vs GODAVARI DEVI YADAV on 29 November 2023
Registered on : 01.06.2015
Decided on : 29.11.2023
IN THE DEBT RECOVERY TRIBUNAL-I AT MUMBAI
TRANSFER APPLICATION NO. 62 of 2023
CENTRAL BANK OF INDIA, having its
Central Office at Chandermukhi, Nariman
Point, Mumbai-400 021 and one of its Bandra Kurla Complex branch office situated at Plot No.C-6, B Block, Bandra Kurla Complex Branch (East), Mumbai-400
051,
Maharashtra.
...APPLICANT
VERSUS
1. MRS. GODAVARI DEVI NAURANG
SINGH YADAV., having her address at B/801, Amogh Vasundhara Co-operative Housing Society, Opp. Utpal School, Above Tata Croma, Juhu Vile Parle (West), Mumbai-400 049.
And
At A/403, Serenity Hights, Opp. Mindspace, off.
Link Road, Malad (West), Mumbai-400 064.
And
At Flat No.1305, 13/14th Floor, ‘B’ Wing, Building No.4, Serenity Hights, Link Road, Malad (West), Mumbai-400 064.
And
At B-53/209, Anand Villa, Govt. Housing
Scheme, Near Prabodhan Theatre, Siddharth Nagar II, Goregaon (West), Mumbai-400 014.
And
At House No.42, Village – Kundra, Pargana &
Tehsil
–
Purvayan,
Banda,
District-
Shahjahanpur (U.P.).
And
At Gata No. 1410, 1411, 1412 & 1413, Gram-Band, Pargana & Tehsil – Purwayan, District –
Shahjahanpur (U.P.)
2. MR. RAJPAL MUNSHILAL YADAV,
having
his
address
at
B/801,
Amogh
Vasundhara Co-operative Housing Society, Opp. Utpal School, Above Tata Croma, Juhu Vile Parle (West), Mumbai-400 049.
And
At A/403, Serenity Hights, Opp. Mindspace, off.
Link Road, Malad (West), Mumbai-400 064.
And
At Flat No.1305, 13/14th Floor, ‘B’ Wing, Building No.4, Serenity Hights, Link Road, Malad (West), Mumbai-400 064.
And
At B-53/209, Anand Villa, Govt. Housing
Scheme, Near Prabodhan Theatre, Siddharth Nagar II, Goregaon (West), Mumbai-400 014.
And
At House No.42, Village – Kundra, Pargana &
Tehsil
–
Purvayan,
Banda,
District-
Shahjahanpur (U.P.).
And
At Gata No. 1410, 1411, 1412 & 1413, Gram-Band, Pargana & Tehsil – Purwayan, District –
Shahjahanpur (U.P.)
And
AT T. P. No. 7/1/2, Gata No.1715 & 1716, Khirneebag, Pargana Sadar, District Shahjahanpur (U.P.).
3. MRS. RADHA RAJPAL YADAV, having
her address at B/801, Amogh Vasundhara Co- operative Housing Society, Opp. Utpal School, Above Tata Croma, Juhu Vile Parle (West), Mumbai-400 049.
And
At A/403, Serenity Hights, Opp. Mindspace, off.
Link Road, Malad (West), Mumbai-400 064.
And
At Flat No.1305, 13/14th Floor, ‘B’ Wing, Building No.4, Serenity Hights, Link Road, Malad (West), Mumbai-400 064.
And
At B-53/209, Anand Villa, Govt. Housing
Scheme, Near Prabodhan Theatre, Siddharth Nagar II, Goregaon (West), Mumbai-400 014.
And
At House No.42, Village – Kundra, Pargana &
Tehsil
–
Purvayan,
Banda,
District-
Shahjahanpur (U.P.).
And
At Gata No. 1410, 1411, 1412 & 1413, Gram-Band, Pargana & Tehsil – Purwayan, District –
Shahjahanpur (U.P.)
And
AT T. P. No. 7/1/2, Gata No.1715 & 1716, Khirneebag, Pargana Sadar, District Shahjahanpur (U.P.).
...DEFENDANTS
_____________________________________________
Counsel for the Applicant : Advocate R. J. Singh.
Counsel for the Defendants : 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 Defendants before the Ld. DRT-III, Mumbai, which stands transferred to this Tribunal as per Govt. Notification dated 26.09.2016 and registered as TOA No.62/2023. The present OA/TA has been filed by the Applicant for recovery Rs.3,19,26,084.05 (Rupees Three Crores Nineteen Lakhs Twenty Six Thousand Eighty Four and Paise Five only) with all costs, charges and pendent lite interest and future interest at the rate of 14.75% per annum with monthly rests of 2% penal interest from the date of filing of the present OA/TA till its realization.
2. Facts as succinctly set out in the OA/TA are that the Defendant No.1 is the Borrower and Defendants no. 2 and 3 are co-borrowers for the credit facility availed from the Applicant.
3. It is stated that the Defendants approached the Applicant Bank on or about 20.09.2012 for Overdraft Facility of Rs.2,30,00,000/-
(Rupees Two Crore Thirty Lakh Only) and the Applicant considered the request of the Defendants and sanctioned the Overdraft Credit Facility vide its Sanction Letter dt.20.09.2012 on the terms and conditions mentioned therein.
4. In pursuance to the aforesaid sanction, the Defendants executed the following loaning and Security Documents on 20.09.2012:-
a. Demand promissory Note for Rs.2,30,00,000/- (Rupees Two Crore Thirty Lakh only).
b. Letter of Continuity.
c. Letter of Waiver.
d. Interest Variation letter.
e. Loan Agreement.
f. Consent clause.
5. It is further stated that in order to secure the said Credit Facility, the Defendant no. 1 mortgaged all piece and parcel of land bearing Gata No. 1410, 1411, 1412 & 1413, Gram-Band, Pargana & Tehsil – Puwayan, District – Shahjahanpur (U.P.) and created equitable Mortgage of the said property, in favour of the Applicant by executing the following necessary documents such as Sale deed, Extract of Khatouni etc.
6. However, the Defendants availed the Credit Facility but failed to maintain its account regularly with the Applicant Bank. Thus, the account was classified as NPA on 04.07.2013. Thereafter, the Applicant Bank served various Letters and reminders to the
Defendants to regularize the account but Defendants did not pay any heed to such requests. Thereafter, the Applicant issued Legal Notice dated 31.01.2015 and called upon the Defendants to pay the outstanding dues as on 30.06.2013 but they failed to pay the dues. Hence, the present OA/TA has been filed.
7. Notices were issued to the Defendants. Despite service, none appeared for the Defendants nor filed the WS thus, they were proceed ex-parte vide order dated 06/02/2018.
8. The Applicant Bank has produced all the Original Loan documents and other relevant documents along with their Claim Affidavit filed on 18.04.2022 through the Senior Manager Mr. Vikas Pateria
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 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 to 3 is joint and several.
11. In the light of above discussions, the Transfer Original Application deserves to be allowed against the Defendant No.1 to 3.
O R D E R
(i) I allow the present OA and direct the Defendant No.1 to 3 to pay to the Applicant Bank, jointly and severally, within a period of 60 days, a sum of Rs.3,19,26,084.05 (Rupees Three Crore Nineteen Lakh Twenty Six Thousand Eighty Four and Paise Five only) with all costs, charges and pendent lite interest and future interest at the rate of 14.75% per annum with monthly rests of 2% penal interest from the date of filing of the present OA/TA till its realization.
(ii) Failing which the aforesaid amount shall be recovered from the sale of mortgaged assets and other secured assets, as well as other personal movable and immovable assets of these Defendants.
(iii) Defendants Nos. 1 to 3 are hereby directed not to deal with their properties till further direction of Ld. Recovery Officer.
(iv) Defendants nos. 1 to 3 shall also pay the cost and expenses of the 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 : 29.11.2023
Presiding Officer, DRT-1, Mumbai
SP/-