Bank Of Baroda vs BHASKAR on 27 February 2019

1. NIr. Bhaskar Nluriidhar Post : Nigdol l'al Defendant No.1

2. NIr. Sampat Defendar-rt No.2 Post: ashik 422 202 ) ) Dindori, Dist. Nasltk, ).. DPfendant No.3 cv Nalhc, Defendant No.4 Prcsent Rckha Nair, Aclvtxatc, Counsel for APPlicant Bank L)eiendants remaincd ex-parte This Original Appli.ation (OA) is filed bY ApPlicant under Section 19 oI thc Recovcrv of Debts Due to Banks and Financial Instiluhons A'i, 1993 ("ltDDB A((') (since changed to "Recovcry of Dcbts and Bankruptcy Act, 1993") against thc Defendanis Ior the recover) o{ a sum aggregating to Rs' 19,90,932/ (Rtpces ) )

3. Mr

4. Dena Banb ) a Bodv Corporate Constituted un.ler the Banking ) Companies (Acquisition alld Transfer of ) Undertakings) Act,1970 a1rd havhg its Head Office ) Dentt Corpordte Ccnlre. C 10, "C" Block, Bandra ) Kurla Compler, Ba[dra (East), N'tumbai-'100 051 and ) onc of its Branclr Officc sifuate at Renuka Plaza, ) near G.I'.O., Tryambak Iload, Bhaclrakali, Nashik ) City - '122 001 through its Assl. Ccn. \'lll ) . VEITSUS \/ ) 'fai Dindoi, Dist. Nashik 122 202 ) ... ) Post

Ordcr 1'OA 1522 of20l6 {ljr parte)(finel) Ninctccn lacs Ninet-v thousand Ninc hundrcd and Thirty T\^-o onl-v) ir respcct oI the various crcdit facilitics mentioned in the OA alonS&'ith cost, chatges, lerulultt lite Futurc interest as stated therein frorn thc ciate of {iling of this OA hll its realisation' Paities .\pplicant is a Bank within Sec- 2(d) of the RDDB Act aIId lendcr of 'rcclit lacilities to DefendantNo. 1. Defendant No. 1 to 4 are individuals. Delendant No 1 availed the Applicant Ior additional sccu t,t,. ed pcrsonal rvhich Defendart No.2 to 4 of Tcrm Loan oI Ils. /- ("CL"\ (lL and CL are Factual lqqEi: :

1. (a) As per OA, Applicant Plovid 8,14,000/- ("rL") and collectir.r.lv called "Credit efendant No- 1 bascd on the documentation ard t No. 1 and the additilrlal secu t"v oF P b-y llefendant No. 2 ar-rd 3 (for 'l t.) and b1, Defendant (b)Asap dit Facilities, Delenclant No. 1 created motgage llc sccu tv for thc Creclit lacilities by cxecuting o{ \{ah;rrashtrir Provision of I;rcilities {or Agricultural 197,1 in rcspe.t o{ his agricultural lands located in Village inclod, Distict Nashik, and got the samc registered with SRO, gettillg the Declaration registercd in the 7 / 12 Register unc{er N{aharashtra Land Rcvenue Code, 1966.

(c) As Pcr the OA, the l)efenciant No. l Iail-"d and neglccted to m'rkc Pa)' ent oI principal, interest arcl othcr monies in respcct of the Crcdit lacilities as and w'hen thcy lell duc. IL is also avelred that Dcfcndatt No- 1 co nlittccl d'faults in observance and performancc of the terms and conditions of sanctioi of lhe Creclit Facilities as staLed in the OA. APplicanl, accordingly, called upon tlle by \

OrderTo l-i22.f l0l6 (Lx-parlei(Final) Dclcndants to repir\' thc cntire outstandilg amour-It oI the Credit Iracilities and consequcnt to failure oI thc Defendants to repa), thc OA has bcen filed.

2. (a)Tlibunal, after satisf-f iDg itsell of the OA bcing within limitation and Ialling within its teritorial jurisdiction as Per RDDB AcL ordered issue C)l Summons to Defendants.

(b) Translcr Notlces lvcrc sent to Delendants by ,,\ckn$vledgement Due. As regards Deiendant No. l, computeised postal articles dclivery hacking system, the Cards

(c) As Defelrdants did noi appear cidret g,h a.lvocatc and filc 06/07,/201U by an Order of the Tdbunal. Proceedings :

3. As diiecled bv the throush Shri. Rahul Nl Giiase, Manager, have been Do.uments as Annexurcs ( hich Post $,ith from Iiled bunal and malkcd as "Exhibits") :rncl also togcther l{,ith thc Certificatc issued under 2000 alld Certificates under Bankers Books of Amcxurcs (n,hich arc marked:rs Exhibit "24", "25" & ts lilcd as Exhibits iurd gonc through b-v the Tribullal, Lhe relevant for the Tribunal to consider arld dispose of the OA Exhibit S. No. Iacility Documerlt "14" Loan Proposal & BN{ Report (Offuie coPv) "75' Term Loan (Rs.8,1a,000/-) Dcmand Promissoly Note (Original)

deliverecl. As regarcls Delendant No. 2,3 and 4, Acknorvledgemer, t received in proo{ oI deljver}'. Applicant Filed Service Affidavit. ex-Da]:rte bn \-'- .dY \,Vrittl-n Statements. the Dcfcndants $ere sct a\ \) t'

1. ordcr To^ 1522 of20l6 (Er_partc)(l inal) "16" H-vpothecation Agleement (Originat) " 17" Personal Guarantee oIDef2&3 (Original) "-t9" Loan Proposal & BN{ RcPort (Office copy) "20" ote N Pr mand omls De Original ( sory "27" Hypother:ation Agrcement ( "22" PersoDal Cuaranlec of (Original) Crop Loan (DKCC) (Rs. 3,36,000/-)

2. "18" cc D of SR th l\,Iortgage bv Def 1 anrl (Ori "23" Recall Common for all Crcdit Facilities Obs on on Evidences

4. The Statemcnt of Account of Eviclence Act, liJ9l, t, .crtiFicd as per BaDkcrs Books in O-,\. Further, the casc of the ts (incJuding the above referreci d& p ) avit, whiah is a sworn Statement, I\'hich has gone view, there is no qrrestiol oI disbclieving the ancl other evicletces let in bl' thc APplicant and its casc beYonll reasonablc doubt to ihe exlcnt oI facilities, completing Documenlation nnd Llisbursoncni acilities. The Applicant has claimed intelest at the rat'' of 13'75"i p'a t{'ith vcarlv resis Ior :rl1 the Facilities fiom the clatc of filing of the OA till its rcatisation lltrving regards to Sec. 19(20) of the RDDB Act (lvhich is analogous to Sec' 3'1 oI Civil Proccdure Cocle, 1908) the .ontlact behfcen tlle '\pplicant and Dclendarlts comes to an end on thc fjling d thc OA'Ihus lhe l'ribunal has discrctjon in t by

3. > the Applicant is Exhibits) filed

Order'l 04 1522 or'201 6 (E\_pxnel(Firal) alr'arding pendente litc arld luture intcrcst. Considerir-Ig the rate ol intl-ret{ charged b1'banks lor similal facilities, I arn ol thc opirlion that intcrcst oI iusli' e $'ill be seNcd if the ratc inferest is au'arded at thc rate oI12.00"/' p a on simplc interest basis.

6. In the Iight of above cliscussions, the Original ApPlicaiion is being allol{'ed and Order passed on the following tcrms

ORDER

crce to be

(i) This Odginal APplication is allowed with terms set out below;

(ii) Therc shall be a Dccree in fav

(a) For Rs. 14,32,54-I/ hunclred and Iorty 12.00?6 per annum ( de issued orr d1e Two thousand Five futurc interest at thc rate of ) from the Llatc o{ filing of thc Original A of rcalisalioll ir respect of Term T-oan ("Decreed livc lar:s Fifty Eight thoustlnd Threc hrrr.lr..J ancl alongwith ft1tu re intcrcst at the rate of 12.009; Per lnterest basis) frun thc date of filjnll oI the Original the datc oi realisatjon il rcsPe.t of CroP Loa[ under ccrcecl Amount lor CL");

(iii) Dcfcndant No. 1, the llorrou er, and DefendaDt No 2ancl 3, thc Guarantors, are orclereLl to pav, jointly anri scverallv, to the APplicant, 'ithin a Pcrio'l oF 30 da,vs, the Dccrccd Amount Ior Tl. and, in the evcnt of thc said Dclcndatts failing to pay and discharge the dues as directed or in the cvent oF shortFall, the assets forming securitl for the TcrIL I-oan (coveretl by I]xh "16" bcing thc oveable assets charged & Exh "1E" beiDg thc immoveablc pr()Perties (b) For Rs \ \ V the the t\ \

L Ord.r lO,\ 1522 ol20l6 (lr\ l)rflc)(l:inell

(iv) Defer-Idant No. 1, the Borroter, Defendant No 3 ard are ordcrecl to pav, jointlv and severalh', to thc APPlicanL wi days, the Decreed Amount for CL ancl, in the of ts failing to pdv and discl-Iarge the clues as the shordall, the assets fornling secuity for ihe Crop (covcrcd b!' Exh "21" being the moveable assets "18 the immoveable properties mortgaged) bc a of and bc sold to thc extcnt of realising the du furLher shortlall, lhc said miry be, irnd in lhe event oa against personalJv bY n'av o[ personal clecr'ee and asscts / estates of Defendant No. 1 and t No. 3 and ,1 bc aitirched irnd sold for as the casc rnay bc;

(v) Based ts placecl before this TriLrunal, supporrcd by thc d lbat thcre is a valid, subsisting and enJorceablc on the movcable assets of the Dc{enclant No. 1, tl,e er Exh "16" and Exh "21" in favour of the ApPlicant vaiidlv lllc fcrnr I o.rr,rnd. rof I o.rrl urr,l"r nKCC;

(vi) Basecl on thc Originai Documents placecl bcfore this l ribunal, supported bl' the pleaclings, it is De.larcd that thcre is a valid, subsisting and enfor''eabk' mortgage over thc immovcable propcrties dcscibed in lrxh "18" in favour ol the Applicant validly securing the Term Loan and Loan under DKCq mortgagcd) be attachecl / taken Possession of and be sold 1() thc extcnt of rcalising thc tiues / shordall, as the case mav be, and in the evcnt o{ furthel shorHall, thc said Dcfendants be proceedecl against Personally bv rvay of personal clecrec and business assets / Personal asscts / estates of Dcfendanl No. 1 and pcrsonal assets / estirtes oi DclenLiant No' 2 and 3 be attached and sokl Ior realising the ducs / shortfatl, as the case rrav be; t& assets /

(vii) Dclendant No. I to 4 are direated to declare, on oath, to thc I{e'ovcry officer' Dcbts Recover) Tribun;rl III, Ntumbai, both moveable and immoveablc assets of theirs as also Defcnclant No. 1 is clir'ected to declarc, on oath' both moveable and immoveablc assets of business calricd on bv him for the Purpose of attachmer-It and sale as clirectecl under Clause (iii) and / or Clause (iv) above;

(viii) Delenclani No. I to 4 ale injuncted from dealing with the escdbed in Exh "16" & "21" and Exh "18" as also assets dcclared on se (vii) above in anv manner lvhatsocver till thc complete re Amounts r:Idet Clause (ii) above;

(ix) Recovcry Certificates bc issued forthrvi Recovcr,v Oificcr, Debts IlecovcrJ' Iri

(x) Parties are Llirccted to Tlibunal - IIl, N{umbai;

(xi) Copies of final to recorcls. Dated Court)

decrc,es trncl sent to thc C)f Ficer, Debts Recover',v free o, cost and Fiie be colsignerl TSAs Presiding Dcbts Rccovery l'ribunal - lll, Nlun'rbai as to nl1 Order T(r\ 1-<2: ol 20l6 ltt Brtcl(Fin!11 Per & a :d)