Debts Recovery Tribunals and Appellate Tribunals
STATE BANK OF INDIA vs M/S ANAMAYEE PHARMACHEM PVT. LTD. on 30 December 2022
Sgj/-14
30/12/2022
Ex.
No.
Before Presiding Officer Dr. Rekha G. Dhakar, DRT-1, Mumbai.
Roznama in TA 1465 of 2016
State Bank of India Vs M/s Anamayee
Pharmachem Pvt Ltd
Next date
Advocate for the applicant present.
None for the defendant.
Heard ex-parte argument.
The matter is reserved for order.
P.O.
DRT-I
Registered on:- 25/02/2016
Decided on:- 30/12/2022
IN THE DEBT RECOVERY TRIBUNAL-I AT MUMBAI
TRANSFER ORIGINAL APPLICATION NO. 1465 of 2016
STATE BANK OF INDIA, a body corporate
)
constituted under the provisions of State Bank )
of India Act 1955, having its Local Head Office at )
Synergy, C-6, G-Block, Bandra Kurla Complex, )
Bandra East, Mumbai- 400 051, and Branch Office )
Amongst others at SME Backbay Reclamation )
Branch, Mittal Court, ‘B’ Wing, Ground Floor, )
Nariman Point, Mumbai 400 021.
)
... Applicant
VERSUS
1.
M/s. Anamayee Pharmachem Pvt. Ltd.,
)
a Company incorporated under the
)
Companies Act, 1956 and having its
)
Factory Address at Plot No. K/37, MIDC
)
Tarapur, Tal: Palghar, Dist. Thane, its
)
Registered Office at 201B, Mathias Plaza, )
18th June Road, Panaji Goa, its
)
Corporate Office at Shop No.2, Vinayak
)
Versova Society, MHADA, SVP Nagar,
)
Near Versova Telephone Exchange,
)
Andheri (West), Mumbai 400 053 and its
)
Page 1 of 8
Fourth Address at 201, Woodrow, Veera
)
Desai Road, Near Court Yard Restaurant,
)
Andheri (West), Mumbai 400053.
)
2.
Jeetendra Singh Choudhary,
)
having his Address at 1203-1204, Samarth )
Deep, 12th floor, A Wing, Oshiwara,
)
Andheri West, Mumbai -400053.
)
3.
Anuradha Jeetendra Choudhary,
)
having her Address at 1203-1204, Samarth )
Deep, 12th floor, A Wing, Oshiwara,
)
Andheri West, Mumbai -400053.
)
4.
Amit Lingras,
)
having his Address at House No.414, Kamat )
Retreat, Durgawadi, Taleigao, Tiswadi
)
Taluka, Goa 403003.
)
5.
Francis Nunes
)
having his Address at 18/2, Guirim, Bardez, )
Opp. Bank of Baroda, Mapusa
)
North Goa 403507.
)
... Defendants
Counsel for the Applicant : Advocate Vivek S. Sawant Counsel for the Defendants : Ex-Parte
Page 2 of 8
J U D G M E N T
1. In the present Original Application, the Applicant has prayed for recovery of Rs.15,27,81,793.22 (Rupees Fifteen Crore Twenty Seven Lakh Eighty One Thousand Seven Hundred Ninety Three and Paise Twenty Two Only) together with costs and subsequent interest from the date of filing of the Original Application till realization. After the change of jurisdiction, the same was transferred to this Tribunal and registered as T.A. No. 1465/2016.
2. The facts succinctly set out in the Original Application are that, the Defendant No.1 is a Private Limited Company and Defendant Nos.2 to 5 are Directors of Defendant No.1 as well as Guarantors to secure the loan sanction to Defendant No.1. The Defendant no.1 approached the applicant bank with the request for granting various credit facilities. The Applicant Bank vide Letter of Arrangement dated 19.01.2012 sanctioned Credit Facilities aggregating to Rs.21.30 Crore in favour of the defendant no.1. The Defendants availed the loan facilities subject to various terms and conditions as per Letter of Arrangement dated 19.01.2012.
3. The Applicant stated that the Defendant no.1 through its authorized signatory executed the following security documents on 27.01.2012 to avail the credit facilities sanctioned by the Applicant Bank;
a) Agreement of Loan-Cum-Hypothecation in Form SME-2 dated 27.01.2012 for Rs.21.30 crores.
Page 3 of 8
b) Omnibus Counter Guarantee dated 19.01.2012.
c) Guarantors Consent for disclosure dated 27.01.2012 duly signed by the Defendant Nos.2 to 5.
4. The Applicant Bank stated that the Defendant no.1 created Equitable mortgage in favour of the Applicant Bank in respect of property being Plot No.K-37, Tarapur Industrial Area, admeasuring 2935.00 sq. mtrs., Village Salvad, Sub-Registrar Office of Palghar, Taluka Palghar, District Thane in favour of the Applicant on 09.03.2012 to secure the repayment of the sanctioned credit facilities.
5. It is further stated that the Defendant no.4, created Equitable mortgage in respect of immovable property being all that plot bearing no.10A admeasuring 184 sq. mtrs. along with western part of residential bungalow admeasuring 163.50 sq.mtrs. situated in property known as “DURGAWADI” situated at Durgawadi within the limits of the Taleigao, IIhas, Goa in favour of the Applicant Bank on 27.01.2012.
6. It is stated that the Defendant Nos.2 to 5 executed Guarantee Agreement in Form SME-3 dated 27.01.2012 and secured the repayment of the sanctioned credit facilities of Rs.21.30 crores alongwith interest, cost and expenses thereon in the event of default on the part of Defendant No.1.
Page 4 of 8
7. It is further stated that to secure the sanctioned credit facilities, the Defendant no.1 through its authorized representative, deposited all the title deeds on 09.03.2012, in respect of the property being Lease Hold rights in respect of property being Plot No.K-37, Tarapur Industrial Area, admeasuring 2935.00 sq. mtrs., Village Salvad, Sub-Registrar Office of Palghar, Taluka Palghar, District Thane with an intention to create Equitable mortgage thereon in favour of the Applicant Bank to secure the repayment of credit facilities. The mortgage charge created was also confirmed by the Defendant No.1 through its authorized signatory vide its Confirmation letter dated 09.03.2012.
8. It is further stated that to secure the sanctioned credit facilities, the Defendant no.4, deposited all the title deeds on 27.01.2012 in respect of the properties being all that plot bearing no.10A admeasuring 184 sq. mtrs. along with western part of said residential bungalow admeasuring 163.50 sq.mtrs. situated in property known as “DURGAWADI” situated at Durgawadi within the limits of the Taleigao, IIhas, Goa with an intention to create Equitable mortgage thereon in favour of the Applicant Bank to secure the repayment of the above referred credit facilities. The mortgage charge so created was also confirmed by the Defendant No.4 vide his Confirmation letter dated 05.03.2012.
Page 5 of 8
9. It is stated that after availing credit facilities, the Defendants had committed various breaches and violation of the terms and conditions of the said Credit Facility by not depositing the amount and not regularize the loan Account. The Applicant repeatedly reminded the Defendants from time to time to regularize the accounts of the Defendants. Thus, the account of the defendants was declared as NPA on 30.09.2014.
10. The Applicant Bank on 01.01.2015 issued recall notice calling upon the Defendants to pay the dues of the Applicant, but the Defendants did not repay the outstanding amount in respect of the Cash Credit Facility therefore, the applicant was compelled to file the present OA/TA.
11. Notices were issued on the OA/TA, Advocate for defendant nos. 1 to 5 appeared and filed Vakalatnama but not filed Written Statement nor for appeared after January 2021 and therefore they were proceeded ex-parte vide order dated 30.12.2022.
12. The Applicant Bank has produced all the Original Loan documents and other relevant documents on 27.05.2019 along with their Claim Affidavit filed through their Chief Manager Mr. Vikrant Saxena.
Page 6 of 8
13. Heard Ld. Counsel for the applicant bank and Ld. Counsel for all the Defendants and perused the record.
14. The witness of the applicant bank has fully corroborated the averments made in the OA/TA, 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 the defendant No. 1-5 is joint and several.
15. In the light of above discussions, the OA/ TA by the applicant bank deserves to be allowed against the defendants.
O R D E R
a. The present O.A. hereby allowed and Defendant No. 1 to 5 are directed to pay jointly and severally to the applicant bank, within a period of 60 days, the sum of Rs.15,27,81,793.22 (Rupees Fifteen Crore Twenty Seven Lakh Eighty One Thousand Seven Hundred Ninety Three and Paise Twenty Two Only) together with costs and subsequent interest from the date of filing of the Original Application till realization.
Page 7 of 8
b. Failing which amount shall be recovered from the mortgaged assets and other assets of these defendants.
c. Defendant nos. 1 to 5 are hereby directed not to deal with their properties till further direction of Ld. Recovery Officer.
d. Defendants shall also pay the cost and expenses of the OA.
e. 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.
Sd/- Place: Mumbai. (Dr. Rekha G. Dhakar) Date : 30.12.2022 Presiding Officer,
DRT-1, Mumbai.
ST/-
Page 8 of 8
Loading citations and judicial treatment…