UCO BANK vs VIMAL TUKARAM on 21 May 2019

1. Sou. Vimal Tukaram Jadhav,'{F R/o : Sonjamb, Tal: Dindori,

2. Shri. Tukaram R/o : Sonjamb, Tal L>h-2-s Presented on : 24/09/2015 Registered on : 27 /09/201'6 Transferred on : 28/04/20L7 Decided on z 21,/05/20L9 Duration : 2A(D)/07 (M)/02(Y) licant Defendant No.1 Defendant No.2 Defendant No.3 IN THE DEBTS RECOVERY TRIBUNAL - III AT MUMBAI DATED THIS 2]"'t DAY OF MAY 2019 PRESENT : SHRI. T S ASOKRAI PRESIDING OFFICER T O A No. 255 of 20L7 ) ) ) ) ) -422205) ) Nashik-42z205)

3. Shri. Kachru R/o: Presen This Recovery Due to B vocate, Learned Counsel for Applicant Bank remained ex-parte (OA) is filed by Applicant under Section 19 of the anks and Financial lnstitutions 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. 1g,75,g78/- (Rupees Nineteen lacs Seventy Five thousand Nine hundred and Seventy Eight only) in respect of the various credit facilities mentioned in the OA alongwith cost, charges, pendente lite futtue interest as stated therein from the date of filing of this OA till its \ realisation. )

Order TOA 255 of 2017 (Ex-parte)(Fina1) Parties : Applicant is a Bank within Sec. 2(d) of the RDDB Act and lender of credit facilities to Defendant No. 1 for which Defendant No. 2 and 3 stood personal guarantee. Factual matrix:

1. (a) As per OA, Applicant provided credit facilities in the form of Rupee Term Loan of Rs. 10,00,000/ - ("RTL") and Crop Loan (under Kisan Credit Scheme) of Rs. 2,00,000/- ("CL") (RTL and CL are hereinafter to as "the Credit Facilities") to Defendant No. 1 based on the and security creation by her and the additional of pers provided by Defendant No. 2 Nd 3. security for the Credit Facilities by mortgage Maharashtra Provision of Facilities 'aL by Bank Act,1974 in respect of her agricultural lands Taluk Dindori, District Nashik, and got the same Dindori.

(b) As per the OA, Applicant on the Defendant No. 1 calling upon her to pay in respect of the Credit Facilities, but Defendant to pay. Consequently, the Applicant issued Advocate calling upon them to repay the entire ou Credit Facilities and, on their failure to repay, the OA

2. itself of the OA being within limitation and falling jurisdiction as per RDDB Act, ordered issue of Summons to (b) Summons to the Defendants were sent by Registered Post with Acknowledgement Due. Postal covers got delivered and Acknowledgement Due Cards received back. Applicant filed Service Affidavit.

(c) As Defendants did not appear either in person or through advocate and file Written Statements, the Defendants were set ex-parte on 29/12/2017 by an o.L under Sec. 5 of Order of the Tribunal.

-) Order TOA 255 of 2017 (Ex-pafte)(Fina1) Procqe4ings:

3. As directed by the Tribunal, Applicant filed, through Shri. Nilesh Vijay Bhor, Chief Manager, Claim Affidavit enclosing various Documents as Annexures (which have been taken on record by the Tribunal and marked as "Exhibits") and also filed Certified Statement of Account together with the Certificate issued under Information Technology Act, 2000 and Certificates under Bankers Books of Evidence Act, 1891., as Annexures (which are marked ,r1grr, "20', "21", "22", "23" & "24").Of thg Documents filed gone through by the Tribunal, the following are found relevant to consider and dispose of the OA on merit. c p{aYlded& Claim made: of Account filed by the Applicant, certified as per Bankers Books of Act, 1891,, tallied with claim in OA. Further, the case of the Applicant is based on various Documents (including the above referred Exhibits) filed alongwith Claim AffidaviL which is a sworn Statement, which has gone unchallenged as the Defendants remained ex-parte. In my view, there is no question of disbelieving the Exhibits and Claim Affidavit and other evidences let in by the Applicant and the Applicant has proved its case beyond

't$ffi&&ment frit:t. Exhibit S. No. Facility ,r11r, ) Sanction Letl.er (Office Copy D P Note for RTL (Original) ,r12r, ,r13r, D,P Note'for CL (Original) "L4" -" cum - Agreement H ,r15r, Guaranteeof Def 2&3 (Or1) ffinaS\at Declaratory Mortgage by Def 1, i/r of her immoveable properties (Regd with SRO, Dindori) (Original) "1_6"

1.

2. Rupee Term Loan (Rs. 10,00,000/-) Crop Loan (Rs.2,00,000/-) & Recall Notice (Office Copy) '19"

reasonable doubt to the extent of sanctioning the Credit Facilities, completing documentation and disbursement f drawal out of the Credit Facilities. The Applicant has claimed interest at the rate of 13.50% p.a. with half-yearly rests for both RTL and CL from the date of filing of the OA till its realisation. Having regards to Sec. 19(20) of the RDDB Act (which is analogous to Sec. 34 of Civil Procedure Code, 1908) the contract between the t and of justice will be served if the rate interest is on simple interest basis

6. In the light of above discussions, Order passed on the following ,r:, :

(i) This Original terms set out

(ii) Defendants comes to an end on the filing of the OA. discretion in awarding pendente lite and future interest. interest charged by banks for similar facilities, I am of the has of ed at the rate of 12.00% p.u. is being allowed and with costs and decree to be issued on the in favour of the Applicant as under - /- (Rupees Seventeen lacs Seven thousand Five hundred Two only) alongwith future interest at the rate of 12.00% pet (on simple interest basis) from the date of filing of the Original Application till the date of realisation in respect of Rupee Term Loan ("Decreed Amount for RTL"); (b) For Rs. 2,68,406/- (Rupees Two lacs Sixty Eight thousand Four hundred and Six only) alongwith future interest at the rate of 12.00% per annum (on simple interest basis) from the date of filing of the Original Application till the date of realisation in respect of Crop Loan ("Decreed Amount f.ot CL");

(iii) Defendant No. 1, the Borrower, and Defendant No. 2 and3, the Guarantors, are ordered to pay, joirtly and severally, to the Applicant, within a period of 30 days, the Decreed Amount for RTL and, in the event of the said Defendants failing to pay and discharge the dues as directed or in the event of shortfall, the assets forming security for the Rupee Term Loan (covered by Exh "14" being the moveable assets charged & Exh "L6" beit:rg the immoveable properties mortgaged) be attached / taken possession of and be sold extent of realising the dues / shortfall, as the case may be, and in further shortfall, the said Defendants be proceeded against of personal assets / estates personal decree and business assets / No. L and personal assets / estates of sold for realising the dues / shortfall, as (i") Defendant No. 1, the Borrower, o. 3, the GuarantorsT EIr€ within a period of 30 ordered to pay, jointly and days, the Decreed CL event of the said Defendants failing to pay and AS d or in the event of shortfall the assets forming Loan (covered by Exh "1-4" being the moveable assets "1-6" being the immoveable properties mortgaged) possession of and be sold to the extent of realising as the case may be, and in the event of further be proceeded against personally by way of business assets / personal assets / estates of Defendant assets / estates of Defendant No. 2 and 3 be attached and sold the dues / shortfall, as the case may be; (") Defendant No. 1 to 3 are directed to declare, on oath, to the Recovery Officer, Debts Recovery Tribunal - III, Mumbai, both moveable and immoveable assets of theirs as also Defendant No. 1 is directed to declare, on oath, both moveable and immoveable assets of the business(es) carried by her for the purpose of attachment and sale as directed under Clause (iii) above; No. 2 be attached and an$ij3

("i) Defendant No. 1 to 3 are injuncted from dealing with the assets described in Exh"1-4" and Exh "76)' as also assets declared on oath as per Clause (v) above in any manner whatsoever till the complete recovery of Decreed Amounts under Clause (ii) above;

(vii) Recovery Certificates be issued forthwith as per above decrees and sent to the Recovery Officer, Debts Recovery Tribunal - III, Mumbai;

(viii) Parties are directed to appear before the Recovery Officer Tribunal - III, Mumbai;

(ix) Copies of final order he sent to all to records. cost and File be consigned TS Presiding Debts Recovery Tribunal - III, Mumbai. (Pronounced in open Court) Dated :21"t May 2019