BANK OF BARODA (DENA BANK) vs VIMAL SHIVAJI on 27 February 2019

1. (a) As per OA, ApPlicant oI Rs. 6,50,000/ ("R l)efendant No. 1 base Defendant No guarantce oI

(b) As per o& Loan d (.) low \ e form oI Rlrpec lerm Loan Rs. 3,00,000/- ("DKCC-1") to tation and sccur-ii"* clcatjon bY oF joint and several personal to Applicant No. 1, Agri.ultural CroP by way of of Rs. 4,00,000/- ('DKCC-2") based on thc r:reation bv him ancl Defenclani No.2 and 3 and DKCC-2 were also securcd by mortgage of agriculhual lan.l oI No. I locatcd h Village Hahore, Talukl)indori, District Nashik, with Defendarlt No. 1 cxecuting Dcclaration under Sec. 5 oI l\'Iaharasht.r I'rovisior of Facilities IoI Agriculhrral Crcdit b) Birnk AcL -1974 and registcring thc same $ ith SRO, Dilrlori ancl the registcrccl Declaration was lecorded in the 7 / 12 Extract also. (Ii IL, DKCC-1 and DKCC-2 are hereilaftcr c(rlectivclv callecl "Creclit lacilities") Parties from d the

5. securitl o{ pers()rlal guaranfee.

l order ToA l6.l:l ol20l6 (Er-palte)(Final)

(d) As per aveiment in the OA, Defcnciar-It No. 1 Iailed and neglccted to make paymcnt of Pdncipal amount, interest and oLhcr monies in rcspe't of thP Crcdit Far:ilitics as a;rd $'hen they fcli clue. It is further averred that Defendant No 1 also failcd to observe and pcrlorm the tcrms and 'onditions of the (lrcdit I,acilities. Accorclinglv, Applicant issued Iiec;rll Notice calling upolr all the Defcnclants to rePay the entile outstanding amount of the Crcdit Faciliti's ()n thc lailurc ot the Dcfer-Idants to rcPay, Applicant Iiled this O

2. (a) Iribunal, after satisfying itself of the OA being u'ithin rrithin its terito al jurisdiction as Pe1 RI)DB ordered Dc{endants.

(b) SuDrmons to the Dcfendants werc Ackno$.ledgement Due 1\'hich got download from the Compu Applicant filed Serr ice vit

(c) As Delenclants did not Written Statements, the Order of the Proceedings:

3. As vcry Tracking System th or tlllough arlvocatc and Iile sct ex-parte on 12/12/2017 bY an Applical.It filed, through Shri. Rahtl NT Cirase' Regisiered Post with to dants as per the enclosing various Documcnts as Annexures (w-htlh rcccnd by the Tribunal and markecl as "Exhibits") and also of -Account togethcr u'ith the Ccrtificatc issucd under Technolog- ,A.ct, 2000 and Certili.atcs under B;rnkers Books oI Evidcnce Act, 1U91,as.\tulexures (lvhich are n-Iarked as Fxhibit "23", "24"& "27"). Of tl,e Documents Iiled as Exl bjts ancl golt'through b."- thc Tribunal, lh' follou,ing or1 nleit. are found relevant for the Tribunal to consider and disPose of the OA u !d orderTOA l6:ll 01 2016 (F.\ pa c)(linall Exhibit Facilit,v Document S. No "-t2" Loan Proposai and Braich Nlanager's Report (Office Cop), "73" "14" "15" llypothecatiur Agrcement Ior "1.6" L

2. RupeeTelm Loan (Rs. 6,50,000/ ) DKCC-1 (Rs. 3,00,000/ ) Pcrsonal Guarantee of (Odghal) "1E', s Loan Prop Repoit ( " 19" Demand Pronissory Note (Original) (Original) "20" "21." E@\cQrgrleE \q,ifi"aiiv i oI Def 2&3

DKCC-2 (Rs.4,00,000/) rY "77" n ay of Dedaration by Regd with SRO, Dindori ) togcther with 7 / 12 Ilxtract "22" Common Io: al1 Credit Ilccall Notice (Office Copy)

4. ded& eleh lsadg ' filed bv thc Applicant, ccrtilied as pcr Bankers Books 1891 read Exh "27" shows that the Claim has been made onll of RTL and DKCC-2 facilities and thc aggregatc clain anount tallied \r-ith claim in OA. Further, thc case ()f the r\PPlieant is based on various Documents (includirg the above reFelrcd Exhibits) filccl a)ongu'ith CJairtt Affidavit, which is a sw,orn Statcmcnt, ullich has gone urlchalJenged. ln my vic\\,, thcrc is no queshon of disbclieving the [xhibits ancl Clain Affidavit and other evidences let i11 by thc Applicant and the APPlicant has provccl its casc DPN for R'l'L (Orifinal) DPN for DKCC-1 (Original) Agricultural Loans (C)dgrnal) DeI '}a&S

4. beyoncl reasonable cloubt to thc extenl oI san.tbning thc Credit Facilities, complcting Doculrerltation and disburseDent of the Creclit ]'acilities. The Applicant has claimcd interest at the rate oi 13.75ilo P.a. ri,,ith vearly rests for all thc Iacilities Irom the datc of filing oI the OA till its lc.rlisation. Havurg regards to Scc. 19(20) of the RDDB Act (ri,,hich is analogous to Scc. 3,1 oI Civjl Procedurc Code, 190E) the contract betwccn the A comes to an end on the filing of thc OA.Thus thc T a$arding pendcntc lite ancl future tttcrcst. Considcring charged by banls for similar facfities, I am of ririll bc seivecl iJ the ratc ilterest is arr'arded interesl basis. Order I OA 16il of 2016 (l},p!rtc)(Final) dants te of p.a. on simplc

In the light of abovc Order passeal on the is being allorvcrl and

(i) This Original A wit}l costs and decree to be issued on the terms set in favour oi thc Applicant as under - /- (Rupces Trveh,e lar:s Sixt\, Six thousand Six l1undred Five onll) alongnith futule interest at the rate of 12.00,.4 per annum (on simple irterest basis) from the date of lilng of the Or.igiIral Application till the datc of realisation in respcct o[ Rupcc Terrn I_oan ("Dccreed Amount for RTI-"); ER

(ii) \ q

\

(b) For Rs. 8,59,t3,13/ (Rup-"e5 Eighr lacs FiftY Nine thousand Eight hundred and Forh Three onl\') alongwith Iuturc interest at the rate ol 12.0016 per tt Order TOA I 63 3 ol 20 I 6 il-x'pane)(F inaL) aru1um (on simple interesr b;rsis) from tl'rc date of filing of thc Oritinal Application till the date of rcalisation h respcct of DKCC Facilit]' - 2 ("Decreell Amounl aor DKCC-2");

(iii) Dcfenddnt No. l, the BoIIo$'er, anci Ileiendr t No.4 and 5, thc Cuitrantcns, arL' ordered to pa1,, jointlr and scverallv, to the APplicant, r\'ithin a peri(nl of 30 davs, the Decrccd Amount for RTL ancl, in thc eve[t of Iailing to pay and dischargc the dues as directed or in ihe asseb follnitg securitY lor the Rupec Term Loan Glovcred the moveable assets charged & Exh "17" thc efendants the g thc cxtent of mortgagecl) bc attached / takt'n posscs shorffall, the said Defendants be personal decree and business No. 1 anLl Personal assets sold for' rcalising [he dues in thc event of furthcr sonally by irav of / estaies of Defendant

o. 4 and 5 be attache(l and e may be; t No. 2 and 3, the Cuarantors/ a1e be

(iv) Delcndant No. ordered to paY , io the Applicant, withir a Pefiod of 30 days, the D KCC-2 and. in thc event of the said Dc{endants failing the dues as dfuected or in the event o{ shordall, the Ior the DKCC Facility - 2 (coverecl by Exh "20" beilg chargecl & Exh "17" being thc inlmovcable ProPerties attached / takcn possession oi ;rr'rd bc sold to the cxtent o{ thc dues / shortfall, as the case ma), bc, and in the event of further shordall, the said Dclcndants be proceeded agarnst pcrsolallv b-v n'a1 of pcrsonal decree alld busiless assets / personal assets / cstales of DcfenLlant No. 1 ancl person;rl assets / estat-os oI Defendant No 2 and 3 be attachecl and sold for realising the ducs / shortfall, as the aase lnay be; realising the ducs / shortfall, as the the

(lr!lcr l'OA l6ll o1 2016 (E\_pa.te)fFin!l)

(v) Based on the Original Documcnts Pla.ecl bcfore this Tribunirl, supPorted b,1 the plcaclings, it is De.lared that there is a valid, subsisting and enforceablc mortg,age over the immoveable propertics clesclibed in Exh "17" in {avour oI the Applicant validly sccudng thc RuPee Tcrm Loan and DKCC lacilit-v - 2, ("r) Based on the Odginal Documents Placed before this Tribunal, suPported by tIle plcadings, it is Declared that therc is a valid, subsisting a:Tcl scvcral ar,d irrcvocable pclsonal gualantee (Exh " 16 personal gualantee (Erh "21") of Defcndani No and 3 secudng additionally DKCC facililv 2; of theirs as also Defendan and inmoveable assets attachment and sale as

(viii) Dclendant No. above ioint No. 4 Rccovery OI{icer, and imrroveable itssets on oath, both moveable on by him for the purpose of

(iii) and / or Clause (iv)abol,e, Irom dcaiing $,ith the asscts des.dbed in also asseis decla:ed on oath as per Claust'(vii) cvcr till thc comPl-otc rt'cove$' of Dccrced

(ii) abovej

(ir) be issucd Iorthwith as per above decrecs ancl sent to the Rec OIficer, Debts Recoverv fribunal - l1I, N'{umbai; Tdbunal - III, Mumbai; ar-rd 5 in favour oI Applicrint securing additionall-v Rupcc in

(vii) Dc{enclant No. 1 to 5 are rlirectcd to Debts Rccovery Tdbunal - III, &

(x) Parties are dirccted to aPPear before the Rccover\' Officer, Debts [iecovcry

Order TOA l6li oJ 20l6 (F\ narlc)(Fin.l)

(xi) Copies of fir-Ial order be sent to all concerned lree oI cost and !_ile be.onsigned to records S Presiiling OIficer, Debts Recovcr,v lribunal - lll, N{umbai. (Pronouncecl in open Court) Dateci : 27'r' Februa{' 2019 \ b o \t\l n\J