CENTRAL BANK OF INDIA vs BAYJABAI on 27 February 2019

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Presented on z L7 /07 /2015

Registered on t 30/06/20L6

Transferred on : 03/10/201.6

Decided on z 27/02/2019

Duration : 27 (D)/07 (MY02(Y)

IN THE DEBTS RECOVERY TRIBUNAL - III AT MUMBAI

DATED THIS 2TI'.DAY OF FEBRUARY 201.9

PRESENT : SHRI. T S ASOKRAJ

PRESIDING OFFICER

T O A No. 1650 of 201'6

Central Bank of India,

a body corporate under The Banking Companies (Acquisition and Transfer of Undertaking) Act1970

having its Head Office at Chander Mukhi, N

Point, Mumbai, Pin: 400 021, and one of its situated at Malegaon Branch, Taluk Dist : Nashik. Pin : 423 203 through

1. Mrs. Bayjabai Waman Ahire,

Post: Gilane, Tal

2. Mr. Sandip W

)

)

Post: Gilane, Tal:

3. Mr. Prakash

Post:

Mr. Dilip Narayan

Post: Gilane, Tal:

Chief

- 423 205)

)

Ahire,

)

Malegaon, Dt: Nashik - 423 205)

)

)

5.

: Nashik - 423 205)

Defendant No. 3

)

Dt: Nashik - 423 205)

Defendant No. 4

Ahire,

Tal: Malegaon, Dt: Nashik - 423 205)

Defendant No' 5

Defendant No. 1

Defendant No. 2

Defendant No. 6

Present

Shri. j K Naik, Advocate, Counsel for Applicant Bank Defendants remained ex-Parte This Original Application (OA) is filed by Applicant under Section 19 of the Recovery of Debts Due to Banks and Financial lnstitutions Act, 1993 ('RDDB Act'')

)

)

Applicant

)

Order TOA 1650 of 2016 (Ex-parteXFinal)

(since changed to "Recovery of Debts and Bankruptcy Ac! 1993') against the Defendants for the recovery of a sum aggregating to Rs. 15,88,326/ - (Rupees Fifteen lacs Eighty Eight thousand Three hundred and Twenty Six only) in respect of the credit facility mentioned in the OA alongwith cost, charges, pendente lite futute interest as stated therein from the date of filing of this OA till its realisation.

Parties :

Applicant is a Bank within Sec. 2(d) of the RDDB Act and Defendant No. 1 to 4, who are the joint borrowers.

to

Defendant No. 1 to 6 are individuals and by Defendant No. 1 to 4 jointly availed credit facility from which Defendant No 5 and 6 provided personal guarantee as hereinafter referred to jointly . As per the documents executed by the and several.

Factual matrix :

1.(a) As per OA, A

credit facility of Rupee Term

Loan of Rs. 9

Borrowers based on the documentation

and

and the additional security of personal

No. 4 and 5. The Borrowers also provided TL by executing a Mortgage Deed dated 05/09/2009 n property held by them in Gilane and Malegaon in District Nashik and got the same registered with SRO,

- I (as Doc. No. 4586 o12009).

(b) As the Borrowers failed and neglected to pay the dues in respect of the RTL in spite of repeated demands, the Applicant, under Advocate's Notice, called upon all the Defendants to repay the entire outstanding amount of the RTL

and consequent to failure of the Defendants to repay, the OA has been filed.

',D€€endant No. 1 to 4 are

2. (a)Tribunal, after satisfying itself of the OA being within limitation and falling within its territorial jurisdiction as per RDDB Act, ordered issue of Summons to Defendants.

(b) Transfer Notices to the Defendants were sent by Registered Post with Acknowledgement Due. Postal covers got delivered on the respective Defendants and Acknowledgement Due Cards received back. Applicant filed Service Affidavit.

(c) As Defendants did not appeat either in person or Written Statements, the Defendants were set ex-parte on Order of the Tribunal.

file

an

Proceedings:

3. As directed by the Tribunal, A

Branch Manager, Claim

(which have been taken

and also filed Certified

issued under Informa

Books of

'19' &. "19',).

Tribunal,

dispose

Shivkumar Ram,

as Annexures

and marked as "Exhibits")

together with the Certificate

and Certificates under Bankers

(which are marked as Exhibit "l7" ,

as Exhibits and gone through bY the

relevant for the Tribunal to consider and Exhibit Document

s. N;. I

Facility

,r12r,

Loan Proposal & BM RePort (Office

Copv)

,r13r,

Loan-cum-Hypothecation Agreement

(Original)

"L4"

Personal Guarantee of Def 5 & 6

(Original)

,r15r,

Mortgage Deed by Def 1' to 4

with SRO, Malegaon-I) (Original)

(Regd

9,00,000/-)

erm Loan

\&*.dg

t;cfl

#

Order TOA 1650 of 2016 (Ex-paneXFinal)

Recall Notice in vernacular language

(Office Copy)

'16'

Observation on Evidences provided& Claim made:

The Statement of Account filed by the Applicant, certified as per Bankers Books of Evidence Act, 1891, tallied with claim in OA. Further, the case of the

4.

Applicant is based on various Documents (including Exhibits) filed alongwith Claim Affidavit, which is a has gone unchallenged. In my view, there is no question Exhibits and Claim Affidavit and other let in ble referred which the

and

the extent of

sanctioning the RTL, completing

bursement of the RTL.

5. The Applicant has claimed

p.a. with monthly rests

from the date of filing of

regards to Sec. 19(20)

of the RDDB Act (which is

of Civil Procedure Code, 1908)

the contract between

comes to an end on the

fiting of the

in awarding pendente lite and

fufure interest.

of interest charged by banks for similar facility, I

interest of justice will be served if the rate interest te of 12-00% p.a. on simple interest basis.

6.

discussions, the Original Application is being allowed and the following terms.