BANK OF BARODA (DENA BANK) vs MRS. SOMWANSHI SARLABAI BALASAHEB on 25 March 2019

1. l4rs. Somrvanshi Sarlabai Balasaheb, Post: N,ladkhijanrb, Taluk : Dincloli, Dist : Nashik .122 001

2. l\,Ir. Sornwanshi Chintaman Bajjrao, Post: N4adkhijamb, Taluk : Dindoli, Dist: Nashik - ,122 001 :

7. N,lrs. ivadje Nlangla Balu, Post I Nladkhija b, Taluk : Dindori, Disi: Nashik 422 001 'lhis Original ApPli.atioll (OA) is filed b)' Appli.anl under llccovcry of Debts Due to Banks arld Financial Institutions (since ch;rnged to "Rccove$' oa D-"bts and BankruPtcY r\ct, Defendants for thc recovcr'\, of a su rlggrcgating to Rs. O derl OA 19.16 ol 2UI6 iF\ p!l1c](l jral) 19 ol the B Ar:t") the pees Ij r'espcct cost, charlJes, te oI lhis O,\ till its Delenda[t No. 7 NL. C lt Shah, Advocatc, i/b Itajesh L Shcthia, Counscl for Applicant Bank Defe]l(lants rcnrained -.x lrar tL- Tl rtccn lacs Seveniv Three thousand Sc\,en of the various credit ftlcilitics mcntiored in the 1ii. future intcrcst as stated therein rcalisation. I'arfies: Applicant is a Bank w,ithirl Se. Defenclant No. 1. Defendant -\o occupatioll, t an.L lcndcr of credit facilities to Dclcndant No. 1, at1 agri(:ultu1ist bv various crcdit Iacilities from thc Applicant and persoral guarantees For thc credit Facilities in stated be1ou, Factual

1. (a) As OA, on the Application of Dclcndanl No. l, Appli.ani f rovi(lcd liufee Tem Loan oI Rs. 6,00,000/- ('RTL-1"), Crop Loan (undcr DI(CIC Schemc) oI Rs 3,20,000/ ('CL 1"), Ilupee Term Loar oI lls. 2,50,000/- ('RTL 2") and Crop Loan (uncler LIKCC Scheme) of Rs. 3,40,000/ ("CL-2") to tlelenclant No. I based on the documentittiolr and sccur-ih .reaiion bv her- ,A.s aLlclitionirl sccuritl', Dclendant No. 2 ancl 3 providcd per'sonal gualanlee f,rr Ill'L-l and ) ) )

CL-1, Delendirnt No.4 and 5 provided pcrsonal ljLrarantec Ior IIII-2, and Dclendanl No. 6 nnd 7 providccl pclsonal guarantcc lor CL_2.

(b) As prclude to availing the credit facilities, Delendant \o. I crciitcd mortgagc on her agdcultural lands located in \iillagc iN'Iadkhijalnb, Taluk: Dineloli. Dist: Nashik b,v executing Dcclaration unller'Sec.5 of \I:rharashtra Plovision of I'acilities for Aglicultcrral Credit by Bank A.t, 197'1 and registcritlg lhe samc I\'ith SRO, Dindo besidcs gclling it recordcd in the 7 / 12

(c) ln the O,A., though a reierence to rcsttucturing / ancl Cl,s is r ldc \a.ithout elaboration (para 5.l2 oF thc O-\), no d Iiled with the Clailn Affidavit in suppo t of

o. 1 becarne highlv

(d) As per OA, Delen.lant N resulting in inter-"st for inslalnents il1 res]rect oI the creclit fa.ilities. It is comNitted various i e the ( redit facilitics as averred in thc OA that spit-" of IeP tlaturl 02/06 /2015 of the cre(li O.der TOA 1 946 ol 20 I 6 (Ex-pafte)(Final) the a(:ounts, and also annual as pcr the terms oI le Defendant No. 1 tcrns and conditiors of is therclol. It is iurtl'rcr scveral nlon the credit No failccl to refulirrisc the ac(ru[ts in , thc Applicant issucd jlecall Noticl' ts to r-6pav thc cntirc ottstallding amount Notjce $.as in respect oF.lues 11nder RTL_1, RTL-2 r collcclively relerred lo as "the Crcdit lacililjes") of the DcfcnLlants to rela), lhc O-r\ has been filcd.

2. (.) satislving itself of thc C)A benrg w,ithin liDritation iind IallinS territorial juris.liction as per RDI)B A.t, ordelcd issue of St1nn1l:rls to the DefenLlants.

(b) On trarcfcr of the case to this lribundl, Transfer Noti(es \\'c1e sent to thc Detendants by Registered Post ,ith Acknon ledgeme[t Due. I'ostaL covl-ls got serveal or1 the respe.tive Dclcndants and A.knowlcdgenrent Duc Car.ls rcccil,cd. r\pplicant lilcd Se^,ice Af fida\,it rt Ordcr'l OA 19.16 oi l016 (Ex-parte)(Einal)

(c) As Def-"nclants clid not apPear eithcr jn Person or through ndvocate and lile trVritten Statements, the Delendants !\'erc s-'t ex Parte o11 06/11/2017 b,v ar (lrller o{ the Tribunal. Proceedings: As LlilectcLl by the Tribuntrl, APPli.ant ijled, tluough lllr'JavtlntBap'rt, ChiPf

3. \{anagcr, Claim -,\Ifidavit cnclosing vtlrious Docurrents as have bccn t;rken on record b,v the TdLrunal and mar'ked filed CertiJicd Statement oI Account togethcr $'ith the Inf onnation Tcchnolog)- Act, 2000 ancl CertiJicates Evidcncc Act, 1E91, as Anncxures (t\hich ked (nhich itlso ks of t "46" , "47" , "1E","49", "50", "51"& "52"). Ot fic [rhibits :rnd gone Io1 the Tribunal to through bv the Tribunal the considcl arcl clisposc of the O,A. '. 'i Exhibit Document S. No. !acility "1.4' Appraisal-cum-Sanction Ivlemorandurn (OfIice Copy) thecatior Agreement (Original) HyPo "1.6' Demand ProIrissorl Notc (Original) "-t8" PersonaL Cuillixrtee of Def2 &3 (Orignral) N<

" 29' Apl,raisal cunr-Sanction NleDlorairdu m (O1licc (lopv) "30" Hl poth€'.ation .\Erc(]nlent (C)r igrnal) "31." I)emanLl Pronlissorv Note (Origmttt) Personal Guar'antec of Del'1&5 (Original) Rupcc Term Loat 2 (Rs.2,50,000//, Rupee Term Loa(r-! (Rs.6,o{ospriJ.'l{ J \\ \.\ "15"

2. order TOA I 946 o I 20 I 6 (Ex-parte)(Final) Obseivation on Evidences provided& C1

4. The Statement of Account filed by thc of Eviclence ,A.ct, 1t191, Applicant is basccl orl Exhiblts) fjled alorlgw,ith has gone unchallenged. Exhibits and the Applicant the casc ol tl'Ie the abovc referrccl is a srvoln Statement, ra'htth is 11o questiolt of disbelieving thc , \ ider,l r l, l rr l,r llr. \l'.'licJrl 'no bcvond reasonable doubt to thc cxtent of , complcting Do.umentali.)n ancl ciisbrrrscment per Bankers Books t of the claincd intelest at thc rale of 9.251" P.a. r{iih } eatl,\. rest foI rale of 10.50% p.a with -y.'arl) rcst Ior both Rl l--2 nnd Cll--2, all date of iiling of thc OA till its realisaiiorl. Having regards to Sec. 19(20) of the RDDB r\ct (u'hich is analogous to S-"c. 3+ oi Civil Ploceclule Cocle, 190E) thc contracl betr\een the ApPlicant irnd Defenditnts conles to an en(l olr lhe Iiling oI the OA.Thus lhc Iribunal has discrction in awaldirlS Pcndcnte liiL- and fuhrrc intcrcst. Colrsiale nB lhc lale of illlcrcst chnrgcd bv banks f(n simjlar facilities, I am of thc opirion that irtcrcst ot justicc r!ilt bc served iI the rate Appraisal-curn Sanction N,lcmorancl um (Office Cop-v) "37" Hypothcca tion -r\greement (Ori8in.11) Demand Promissory Note (O ginal) " 41" Pcrsonal Guararltee ol DcI6&7 (Odginal)

3. Crop Loan (DKCC Iacility)- 2 (Iis.3,21,000/-) " 14" " 45" Ivlortgage b]' wav oI Dcc Dcf I and Itcg.t -ith (Origintrl) l.ith 7 / 12I'lxhact Comrnon for all Credit Facilities Recall Noli.e (Oftice Copy)

L Ordo TOA 1946 of20l6 (Ex-parte)(Final) interest is au,ardcd at the rate oI 9.00"t p.a. lor RTL 1 and 10.009i" p a. for RTL 2 and CL 2, all on simple intelest basis.

6. In the light of abo\.c dis.ussio1ls, the Oliginal APPlicahon is being aliowp'l nrrd Order'pirsscd on the follo\\'ing lerms.

(i) lhis Oriflin.rl Applicati(n is allowcd H'ith costs arld Llecrcc the terlns set o11t belo$'; (1i) Thcrc shall be a Decrce tl favour .i rh. I-

(a) Fol Rs. 6,35,543/ (ltupees Six Fivc hundrccl ancl Iort). Thrce or ,v) at ate oI9.009; pel amum (o1 simple intcrcst the oI Iilng of the Origillal Application til I lhe ("Dcc1ccd Amount lcspcct of Rupce lerm Loan I

(b) For Rs. hundrecl lacs Sc\-cnt1, Tiuec tllolrsand Four )alongh.ith luture intcrcst at the rate of 10 00% ple irltcrest basis) from the dirte of Iiling of thc the datc of realisation in respect of Ilufee Iern Ariourt for Ill L-2"), /- (Rupces iour lncs Sixt,y Four ihousanll Seven hunttr'tl otlv) alongrviih iuture intercsl at thc rate of 10.00% Per ilnllunl simplc inlerest basis) ilorl thc date of Iilrng ol thc C)rigir1a1 AppLicatior till the datc of realisation ir resPe.t oI Cr-op Loan (unr.let DKCC Schene) - 2 ("Decreed Amount Ior Cl-2");

(iii) DeFendant No. 1, the Borroh,er, a.d Dcfendani No. 2 and 3, lhe Cuaranlo 5, are ordcred to pa,v, jointl) and sel'cralh, to ihe Applicart, withh a period oi 30 da-vs, the Decrecl{ Anount fclr'RTL--L and, in the cvent oF thc saicl Defondants

ORDER

,1 faililg to pay and discharge thc dues as Llirccted or ir the evcnt of shortlall, lhc itssets forming security lor the IluPee Term l-oan 1 (covered bl Erh "15" bcing moveablc assets chalgecl & Exh "'1'1" beirg ;*1161'g;rble assets ortgaged) be attached / takcn possession of and bc sold to ihe exteni of rcalsing thc clucs / shortf;rll, as the case mav be, anc{ in Lhc event of lurthcr sholtIall, tl,c saicl Defendants be proceeded against Pcrsonalt]' b1' n'ny oI Personal dccree r d business asscts / Irersonal asscts / Pslatcs of Delentlant N d personal assets / estates of Deiendant No. 2 and 3 be attilchell and .lues / shorlfall, as the case mav br:; g the

(iv) Defe.dant No. l, the Borrolrer, and Delendart No-'l and 5, the Cuitrantus, atc or-der'ed to pav, j,rilltl,v anci days, the Decreed Amount faiting to pa], and discltrge assets Iorming secudt\' {or Ru n10\,cab1c assets chargcd &

attachcd / taken shorffiill, as Dcfcnliants be business assets assets cl Orde'I OA l916 oI20l6 rLr pfu1c)(l:inall severallJr, eliod oI 30 for RTl.- Dclendants the c\,-"nt of shortfall, the (:ovcred bv Erh "30" being abll- assets mortgagcd) be the extcnt of rcaljsing the clu-"s / evcnt of lulther sholifall, thc said personally b1 u'av of Pcrsonal dccr'e€- and / estates of Defcnclant No. I and personal No.,1 and 5 bc aita.hed arrri solci for re.llising thc case maY be; .:r^ ploce (") 1, thc llorrowel, atld Defe dant No.6 and 7, the Cuaranlors, aIc pay, jonrtb and sN,crall), to the AlPlicant, \'\'itlir a Pcriod of 30 clavs, the Decrccd Amount Ior CL-2 and, iI ihe cvcnt of thc saiLl DcfelLlants failing to pav and discharge the clues as dilccted ol ill the evcnl of shortlall, lhc assets forming se.urity lor the Crop Loan (utdcr DKCC Sch-'mc) 2 (:ovcred

b) I:xh "37" being movcab]e assets charged & Erh "4'1" lting im ovcable asscls ortgaged) lre atiidrcd / taken possessiot oI ancl bc sol-] to the cxk'nt ofrealisirrg the clues / shortlall, as thc case ma) be, and jrl thc everli of furth'r

shorff.ill, thc said Defendants be procccdcd ag.rinst Person:rlh' bv wa! of Pclsonal decree and business assets / P_"rsoft11 assets / cstaies oI Deientlar'It No. 1 and pelsonal asseis / cstatcs ol Defcndant No. 6 and 7 bc attached and sold for rcalising the dues / shorlfall, as the.asc nrav be; (r,i) Based on thc C)riginal Documctlts Plar:ecl bclole tl,is Tribunal, supPortcd b) the pleadings, it is Declared that thclc is a vali(1, subsis hypothec;rtiolr / charge or-r thc rnoveable assl'ts oF thc d cnforceablc Ordcr IO]\ l9:16 ol2rl6 (l-\ farlc)(rindl) ting an No. 1, the under \,{,s Borrorver, :ts pel Exh "15", "30" & "37" in Iavour of thc A sccuring the Rupcc'lcrm Loan 1, IluPee T-"rm Loarl - 2 DKCC Sr:hcme) 2; the Applir:ant validlv securing Rp and Crop Loan (untlcr D

(vii) I3ased on thc Oligilul Documcnts placed belore lhis T,-ibunal, suPported bv the pleaclings, it is Dcclarecl that thcrc is a valirl, subsisfurg and enforceal-rle mortgage over thc immoYealre Pr'opcrties cles.ribe.l in Lxh "4'1" in favorrr of ee TeIm Loan - 1, RuPceTermLoan-2 ) T

(viii) Dcfendant No. 1 iled Debts to declare, on oath, to the llccover]' C)Ificer, un-Ibtri, both movcablc anLl irnnoveable assets of No. I is Llircctecl to.lcclarc, on oath, both rnovcable oI business bcing carried on by her Ior the Purpose of as dirccted Lrnrler C1.luse (iii) irnd / or Clause (ir') and / or abor.(,;

(ix) Dclcndant \o. I to Tare injunctcd frorr dealing rvith thc assets clcscribed inFxh " 1,5" , "30" & "37" anci [rh",1-1" as also assets dcclalecl on oi]lh as Pcr Clause

(viii) abovc in anv mannel $'hatsoevel till thc comfletc lccove^ of I)e.r-oed Amounts under Clause (ii) abovc;

(x) Rccovc(' Certifiaates be issttcd fo1hllith as per abol'e dccrees anLl scnt t() the Recovcr). OIIicer, Debts Recovcrv Tribunal UI, lf{umbai; (ri) Parties are dilectccl to apPear belore the Rccoverv CXIicer, Debts tie.oler-v Tribunal lll,N'lumhai;

(xii) Copics of iinil ordcl be sent to all concerne,:l free ol.ost atlci consigncd OrdeL ToA 1946 o12016 (Ex-parle)(Final) Io records- (Pronounced in open Corrrt) Dated : 25rr'Nlar.h 2019 okraj, Re('ove1\' T C)l1i.er, bts Iribunal III, lrlumbai. ( -r'\\ \ \-$S NNJ \\- \,/