Debts Recovery Tribunals and Appellate Tribunals
KOTAK MAHINDRA BANK LIMITED vs SANDEEP ACHREKAR on 9 March 2021
Registered on:
13.10.2015
Decided on:
09.03.2021
Duration:
Y M D
5 4 24
IN THE DEBTS RECOVERY TRIBUNAL-I AT MUMBAI
DATED 9th DAY OF MARCH, 2021
ORIGINAL APPLICATION NO. 913/2016
Kotak Mahindra Bank Limited,
A Banking Company within the meaning
of the Banking Regulation Act, 1949 and
registered Under the Companies Act,
1956 and having its registered office at 27, BKC, C-27, G Block, Bandra Kurla Complex, Bandra €, Mumbai 400 051 and one of its branch office at Ground Floor, Samsung Building, Vinay Bhavya Complex, 159-A, CST Road, Kalina, Santacruz (E), Mumbai 400 098 .
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….. Applicant
VERSUS
1. Mr. Sandeep Achrekar,
Age Adult Indian Inhabitant
2. Mrs.Anita Sandeep Achrekar
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Age, Adult Indian Inhabitant
Both Defendants No. 1 & 2 having
address at:
A/603, New Shivalay CHS,
Panchpakhadi, Thane (W)_,
Thane 400 602
And also at:-
Flat No.408, 4th floor,
Mathoshree Apartment,
Jambli Naka, Agyari Lane,
Thane (W), Thane – 400 601.
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… Defendants.
Advocate for applicant
Mr. R.L. Motwani
None for defendant nos. 1
& 2
None (already set ex-parte)
JUDGMENT PRONOUNCED ON : 09/3/2021
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J U D G M E N T
This is an application filed under Section 19 of the DRT Act, 1993 by Kotak Mahindra Bank Ltd praying to issue Recovery Certificate against the defendants for an amount of Rs.21,71,130/- (Rupees Twenty One lakhs Seventy One Thousand One Hundred Thirty only) together with interest @
OA 913 of 2016
7.50% p.a. from the date of filing of the Original Application till realization being the amount due from the defendant nos. 1 &2 in respect of Home Loan facility.
The brief facts of the application are that the defendant no.1& 2 approached Kotak Mahindra Bank Ltd. for granting them Home Loan facility which was allowed vide sanction letter dated 20/10/2005.
The defendants availed the loan facilities subject to various terms and conditions as per sanction letter dated 20/10/2005. The defendant nos 1 and 2 also executed a registered mortgage on 20.10.2005 over their residential property Flat No. 408, 4th floor, Matoshree Apartment, Jambali Naka, Agyari Lane, Thane (W), Thane -400 601.
However, the defendants failed to operate the account regularly therefore, the account was classified as non- performing assets and therefore, the applicant got issued a legal notice dated 15/06/2015 in respect of account calling upon the defendants to pay the outstanding amount. As there was no response from the defendants, the applicant having no other alternative, filed the present Original Application for recovery of the loan amount with subsequent interest and costs.
Summons were served upon defendant nos. 1 and 2 by way of Registered Post Acknowledgment Due. However, they remained absent, therefore, they were proceeded exparte vide order dated 17/01/2018. The applicant bank filed its claim
OA 913 of 2016
affidavit under Exh. 13 along with list of original documents under Exh. 14 and original documents filed by the Applicant are exhibited as A to -H.
The evidence affidavit and documents filed by applicant remained unchallenged. After hearing the arguments of the counsel appearing for the applicant and upon perusing the record, this Tribunal pass the following order:-
O R D E R
a) I allow the O.A. and direct the defendant no.1 and 2 to pay within a period of 30 days to the applicant bank a Rs.21,71,130/- (Rupees Twenty One lakhs Seventy One Thousand One Hundred Thirty only) together with interest @ 7.50% p.a. from the date of filing of the Original Application till realization.
b) Failing which the aforesaid amount shall be recovered from the properties which is mortgaged and mentioned in Schedule A to the application and also from the sale of other asset of the defendant nos. 1 & 2.
c) Defendant nos 1 and 2 are hereby directed not to deal with their properties, till further direction of Ld. Recovery Officer, DRT-1, Mumbai.
d) The defendant 1 & 2also shall pay costs incurred by the applicant bank in filing the above Original Application including professional fees and other expenses.
e) The Recovery Certificate be issued forthwith and be sent to the Recovery Officer, DRT-1, Mumbai of this Tribunal.
f) Copy of this Judgment and Recovery Certificate be sent to all the parties as per rules.
Place: Mumbai.
(Dr. Rekha G. Dhakar ) Date: 9th March, 2021. Presiding Officer, DRT-1, Mumbai.
OA 913 of 2016
09/03/2021 Roznama – MDRT-I O.A. No. 913/2016 Next date
Orders pronounced vide separate order.
1. I allow the O.A. and direct the defendant no.1 and 2 to pay within a period of 30 days to the applicant bank a sum of Rs.21,71,130/- (Rupees Twenty One lakhs Seventy One Thousand One Hundred Thirty only) together with interest @ 7.50% p.a. from the date of filing of the Original Application till realization being the amount due from the defendants in respect of cash credit facility.
2. The parties are directed to appear before the Ld. Recovery Officer No.1 on 26.04.2021. File be consigned to record room. P.O. DRT-1
26.04.2021