UNION BANK OF INDIA vs SACHIN on 15 May 2019

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Ex\ 3o

Presented on : 06/07/20L5

Registered on : 19/05/2016

Transferred on : 09f71/2016

Decided on:15/05/2019

D urati on : 26 (D) /11, (M) / 02(Y)

IN THE DEBTS RECOVERY TRIBUNAL - III AT MUMBAI

DATED THIS 15th DAY OF MAY 2019

PRESENT : SHRI. T S ASOKRAJ

PRESIDING OF'F-ICER

T O A No. 1668 of.201,6

Union Bank of India,

a body corporate under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1

and having its Head Office at239, Vidhan Bha Marg, Mumbai - 400 021and its Gangapur Branch, Shri. Ganesh Avenue, Nr. Navash Mandir, Anandwalli Gangapur Road, N

through Chief Manager

Applicant

1. Mr. Sachin Balkrishna

HIG / 13 / 08,6th Scheme,

CIDCO, Nashik -

Defendant No. 1

2. Mr. Anita Sachin

}JrG/13/08,

a Nagar,

CIDCO, N

Defendant No. 2

3. Mr

Ravivar Peth,

- 422003

Defendant No. 3

Present

Vilas D Deshmane, 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 Institutions Act, 1993 (-RDDB Act')

(since changed to "Recovery of Debts and Bankruptcy Act, 1993") against the Defendants for the recovery of a sum aggregating to Rs. 14,10,699/- (Rupees Fourteen lacs Ten thousand Six hundred and Ninety Three only) in respect of the )

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credit facility mentioned in the OA alongwith cost, charges. pendente lite fluture 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 lender of credit facility to Defendant No. 1 and. 2 for which Defendant No. 3 stood personal guarantee.

Defendant No. 1 arrd 2 are hereinafter jointly and severally Borrowers".

Factual makix :

Applic# provided Rupee

(with liability joint and

several) based on the

by them and

Defendant No. 3 providing

security. Security

for the HL was provided by

Simple Mortgage Deed

executed in respect of Row

N

Shanti Kunj Co-op. Housing

Society constructed on

13,

34 out of S No. 944 / 4A+48+5

situated at Mouj

Nashik which got registered with

SRO, Nashik - 3.

(b) As per OA,

and neglected to repay the HL in spite of several neglected to observe the terms and conditions was sanctioned and disbursed. Applicant consequently, Notice calling upon all the Defendants to repay the entire of the HL and on their failure to rcpay, the OA has been filed

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) Summons to the Defendants were sent by Registered Post with to as "the

1.(a) As per OA, on being approached by the Term Loan of Rs. L0,70,000f - ("HL") to Acknowledgement Due. Postal cover to Defendant No. 3 got served as per J

Download from Postal Site filed by Applicant. However, the service on Defendant No. 1 arrd 2 could not be completed through post and, on an application by the Applicant, Tribunal allowed substituted service through paper publication, which was completed by the Applicant. Applicant filed Service Affidavits.

(c) As Defendants did not appear either in person or through advocate and file Written Statements, the Defendants were set ex-parte Order of the Tribunal.

2019 by an

Proceedings :

3. As directed by the Tribunal, Applicant Samanth, Senior Manager, Claim Annexures (which have been taken "Exhibits") and also filed Certificates under Bankers B

are marked as Exhibit "28").

maintained in the

AS

on 06

Mr Bhagyashree Ajit

various Documents as

the

and marked as

together with the

1891, as Annexures (which

Certified Statement of Account

"29").Of the Documents filed as

the following are found relevant for

OA on merit.

Exhibits and

the Tribunal to

of the

Exhibit

S. No.

Document

'9"

Sanction Letter (Office Copy)

,r11r,

Demand Promissory Note (Original)

,r12r,

Housing Loan Agreement (Original)

,r13r,

Ltr of Undertaking / Declaration by

Def 1 & 2 i/ r mortgaged asset

,r10,

Simple Mortgage Deed by Def 1, &.2

i/r of Row House (Regd with SRO -

Nashik - 3) (Original)

"L4"

Personai Guarantee of Def 2 (Or1)

,r17r,

Term Loan)

/)

Recall Notice (Office Copy)

l

*."d

"ffiW

Order TOA 1668 of 2016 (Ex-pafie)(Final)

Observation on Evidences provided& Claim made:

The Statement of Account filed by the Applicant, certified as per Bankers Books of Evidence Act, 1,89L, tallied with claim in OA. Further, the case of the Applicant is based on various Documents (including the above referred Exhibits) filed alongwith Claim Affidavit, which is a sworn Statement which has gone unchallenged as Defendants remained ex-parte. In my view, there is no question of disbelieving the Exhibits and Claim and other evidences let in by the Applicant and the Applicant has beyond reasonable doubt to the extent of sanctioning the documentation and disbursement of the HL.

5. The Applicant has claimed interest

and penal interest at the rate of.2.

% p.u. with monthly rests

date of filing of the OA till its

to Sec. 19(20) of the

RDDB Act (which is analogous

Procedure Code, 1908) the

contract between the A

and

comes to an end on the filing of

the OA.Thus the Tri

awarding pendente lite and future

interest.

charged by banks for similar faclllty,I

am of the

justice will be served if the rate interest is awarded at on simple interest basis.

6. In

the Original Application is being allowed and following terms