Bank Of Baroda vs GENU on 27 February 2019

1. (a) As per OA, on the applic \ Tcrm Loar oI Rs. 5,77 D ("DKCC-1")ro creation by No. 4 ald

(b) As per olr tlre documcntation anal secudt\,- t \o. l basccl or1 the docunentation and se(_u1itY cluity of pcrsonal Suarantcc oI Defendant lication oI Delendant No. 1, App]icant ploviclccl 1,70,000/- ("n l 1.") anil DKCC .Facilitl' of Rs. 2,52,000/- R No. and the adllitional secudtl oI pcrsonal guarantcc of Delendant

3.

(c) Dcfcndant No. 1 crcated mortgage on his agri.uihnal land locate.l in Viilage Korhale, lalLrk Dindori, District -\ashik, rvith Defenclant No. I executillg Declaration undcr Scc. 5 o{ Nlahalashtra Provision of Facilitics for Agricultural Credit by Bank AcE 1974 and registering thc same with SRO, Dindod. (NITL, DKCC-], RTI- ancl DKCC-2 are hereinaftcr coLlectiYely callcrl "Creclit Facilities") Parties : No. .*

Ordcr'l()1 l6:2 ol?016 (ll\ p.nc)(l iiaL)

(d) As perOA, Dcfcndant No. 1Iailed and ncglected to make PaYment of Princifal amount, intercst and othcr morlies in rcsPect of the Credit Fa.ilitics as and when the-y iell duc and also failecl to observe and periotm Lbe temrs and conditions o{ th-" Credit Facitities rcsulting in the Applicant callinli uPon the Defendants b rePav the enfuc outstancling amount of the Crcclit I'rcililies and, on the failurc of the Dcfenda.ts to rcpay, thc C)A has bccn filed.

2. (a) Iribunal, after satisf,ving itsell oI the OA bcing within r\'ithin its terlitorial jurisdiction as Per RDDB A.t, oldcle fallhg Defenclants.

(b) Summons to tlle Dclendants lvcrc Acknowledgemett Duc which got scn' gh Acknowledgement Due Cards receiv regards Defendani "carrnot be Iounr:l". No. 4, the postal cover Hence, on the application allowed paper publication, \a.hich ,as caficd out. App t also

(c) As DefenLlants did not Order of the T set cx-part-o on 13/09/2017 bY an Applicant filed, tirrough Shri. Rahul Nl Cir:rsc, enclosing various Documents as Annexurcs (which on rccord bv the Tlibunal and markecl as "Exhibits") and also Slatemett of Accourlt togcthcr with thc CertjJicate issued under d to Post with -\o. 1,2,3 and 5 as per ks of lnformalion Tecl,nology- Act, 2000 trnd Cerhlicatcs under Bankers Bocr Evidence Act, 1891,as Annexures (rvhich ;rrc marke.l as Erhibit "29", "31"& "35"). Of the Documents filcci as Fxhibits and gone through bv thc l ribunal, the following are found Ielevant Ior the Tribunal to.onsider and dispose oI the OA d or through advocate and file \'\I on merit.

Obs

OrdcrTOA 1632 oI2016 {trx-parte)(linal) & Claim made filed by the Applicarg certified as per Bankers Books 891 read with Exh "35" indicates that the dues claimed under (JA represent the aggregate of dues under N{TL and Rl l, and the t tallied rvith d.riln in Or\. !urthc1, thc case of the Appli.irnt is basecl on various Documents (inclucling the above reFerred Exhibits) Iilecl alongu,ith Claim Affidavit, nhich is a swoln State erlt, u'hich has gone unchallenged. In m) vieh', there is no qucstion of disbelieving the Exhibits and Claim Affidavit and other eviden.es let in by the Applica1lt and the Appli.ant has provecl its case beyond reasonable doubt to the extent of sanctioning the S. No. Facility Document Exhibit Loan Proposal antl Branch Nlanager's Iteport (OIIice Copy) DPN for MTL (Odginal) "19" DPN for DKCC-1 (Original) I I],pothecation,A.grecmcnt (Ori ginal) "20" "2-1"

Mccl Tcrm Loan (Rs. 5,77,000/ ) DKCC-1 (Rs. 1,56,000/-) Personal Guarantce oI (Original) Def 4&5 Loan Proposal and Branch Maiqg&{€\ Reporl (Otfice Copy) :'1. lv. .:, "\ DPN for RTl{oriCqal) '{*r" DPN for DKCC-2 (Original) H],pothecation Agrecment (Original) "26" Rupee Term Loan (Its. 1,70,000/-) DKCC-2 (Rs.2,52,000/) {n Personal Guarantee oI (Original) DeI 2&3 "27" y of Dcclaration b! d Regd wirh SRO, Dindod ) "22"

Common for Crcdit Iracilities Recall Notice (Office Copy) "28" "1.7" "78" "25" "21"

4.

5. Crcdit Facilities, completing Documcntation and clisbursement of thc Credit Facilities. The Applicant has claimcd interest irt thc ratc oi 13.759/0 p a. with vearl,v rests foi atl the facilities from the date oi fililg of the O,,\ till ils iealisation. ilaving rcgards to Sec. 19(20) of the RDDB Act (which is analogous to Sec. 34 oI Cjvii Procedure Code, 1908) the contract between the Applic comes to ar1 end on the liling of the O-{.Ihus the Tfi tion in Or der'lOA l612 ol20l6 il,\ rarl.)(Finxl) charged by banks for similar facilities, I am of oPfi1on

5. In the light of above discu will be seryed if the rate interest is awarded or p.a. on simPlc interest basis is being allorvcd anrl Orrler passcd on thc

(i) This Original terrns set in {avour oI the Applicant as under - ,72,362/- (Rupees Ten lacs Seven[ Ti\''o thousand Threc rell and Sixiy Tu'o only) alongwith futule intcrcst at the rate of 12.00:d per amum (on simple interest basis) from the date of filing o{ the O ginal Applicatiul till the clale of realisation in respect of Nlcdium Term Loirn ("DecreeLl Amount lor NITL"); (b) For Rs. 3,19,861/- (Rupees Ihrcc lacs Nireteen thousand Eight hundrcd (ri) and Sixq One only) alongw,ith fufluc interest di thc 1-ate of 12.00% per interest ah,arding pendcntc litc and future iutclcst. ConsiLle ng the 1S wiih costs and decree to be issued on the L orderToA 1632 of 2016,(l-x pan.)(fjfuL) annum (on simplc interest basis) from the date of filing oI the Original Application till the datc o[ realisation in lcsPed of lluPee Terln Loan ("Decreed Amount for llTL");

(iii) Defendant No. l, the Eorroiver, ancl Defcndant No. 4 and 5, the Guarantors, are ordercd to paY, jointly ar-rd ser.erallv, to the Appli.irnt, n'ithin a period oI 30 davs, the Dccrced Amount for MTL and, in the evcnt of failing to pay and discharge the dues as dire(led or in thc assets Iorming securitv for the Nlcdium Tcrm I-oan (covered the noveable asscts charged & Exh "22" the the extent of be the in thc c\.ent oI further mortgaged) bc attached / taken P realising the dues / shortfall, as the shorffa1l, the said Defendants be pcrsonal decrec and business No. I and pcrsonal assets sold for rcalsing the Llues y bv rvay oI / estates of Dcferldant

o. 4 and 5 be attached and c nlay be; ant No. 2 and 3, t1-Ie Guarantors, are

(iv) Defendant No. ordered to pay , to the Applicant, lvithin a Perioll of 30 days. thc RTL and, in thc cverlt of the said Deferldar,ts failing tlte dues as dilected or in the event of shorffaL the {or the Rupee Term Loan (covered b,v Exh "26" being chargcd & hxh "22" being the i moveablc ProPelties attached / taken posscssion oI and be sold to thc extent oI the clues / shortfall, as the case mtry be, and in the evcnt of furiher sholtfall, the saill Dcfcnclants bc proceerled against pcrsonally b,v w'a-v of pcrsonal decree anrl busrness assets / Personiil assets / estates of Defendant No. 1 and persor-ral assets / estates of Delendant No. 2 and 3 be iittached and sold for realising the ducs / shortFall, as the case may tre; b_v

OrJer TOA I 612 oI 20 l6 (E\_pa.le)(Finall ("i) Bascd on the C)riginal Documcnts Placcd before tllis Tribullal suPported b-v the plearlilgs, it is Dcclared that therc is a valill, subsisting and several and irrevocable Personal guarantce (Exh "2l personal guarantcc (Exh "27") of Dcfendant No ancl 3 sccuring adc{itionall}' Rupee Tcrm Lrran;

(vii) Defendant No.-1 to 5are dirccted to Debts Recovery Tdbunal - I[, of theirs as also

o. 1 ble joint No. 4 lrcant Ro.oven, Officcl, and immoveable assets , on oatl, , both moveable and immoveable assets attachment and sale as

(viii) Dcfcnclant No

(iii) and / or Clause (iv)above, d dealing with the asscts .lescibed in Exh o assets decl;rlcd on oath as pcr Clause (ix) tsocl,er till the comPlete recoven of Decr-oecl "2A" & "26' above e tes be issued forthl{ith as per above decrct's and sent to the OI{icer, Debts Ilecovely Tribunal l}1, Mumbaii

(x) Partics are directcd to aPpear beiore the llecoverv Officer, Dcbts Rccoverv Tribunal - lll, Nlunrbaij (r,) Based on the Original Documents Placecl bc{ore tl'ris Tribunal suppolted by the pleadings, it is Dcclared that therc is a valid, sLrbsisting and euforccable mortgage over the irxnoveable properties desc bcd fu Exh "22" in Fnvour of the Applicant validlY sccuring the N{ediulll Tcrn Loan and RuPee Term Loani and 5 in favour oI ApPlicant se.uring aLlditionall-v Ntedium on by hirn for the PulPose oI

(ii) abovc; (i*)

Order TOA 1632 ofl0l6 {L\-parte)(finll1

(xi) Copies of final ordei be sellt to all concerncd free of cost and File bc consigncd to records. S Presiding Debts Ile.overv Tribunal III, Mumbai. (Pronounr:ed in open Court) Dated : 27it' Fcbruan 2019 @ \J