Debts Recovery Tribunals and Appellate Tribunals
CENTRAL BANK OF INDIA vs KACHARU on 20 May 2019
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Central Bank of India,
a body corporate under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1
and having its Head Office at "Chander Mukhi", Nariman Point, Mumbai - 400 021and one of its branches situated at Goverdharu Taluk &
Nashik. Prn 422209 through Chief
1. Mr. Kacharu Ganpat Ranmale,
R/o : Shivangaor; Post:
Taluk &Dist. Nashik-422
2. Sau. Shantabai
R/o : Shivangaon/
Taluk & Dist.
Presented on : 11/09/2015
Registered on : 26/07 /201.6
Transferred on : 03/10/201,6
Decided on:20/05/2019
D ur ati o n :2a (D) / 09 (M) / 0 2(Y)
licant
Defendant No.1
Defendant No.2
Defendant No.3
IN THE DEBTS RECOVERY TRIBUNAL - III AT MUMBAI
DATED THIS 2oth DAY OF MAY 2019
PRESENT : SHRI. T S ASOKRAJ
PRESIDING OFFICER
T O A No. 1814 of.2016
Gartrdeshwar
Mr
J.
R/
4.
Taluk: Dindori,
Salve,
Post Pimpalgaon Garudeshwar
)
)
)
R/o
Taluk
Nashik - 422222
Defendant No.4
Present:
Shri. J K Naik, Advocate, Learned 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 )
)
)
)
)
)
)
)
)
)
i:
Order TOA l8l4 of 2016 (Ex-parte)(Final)
Defendants for the recovery of a sum aggregating to Rs. 1g,B6,959/- (Rupees Eighteen lacs Thirty Six thousand Nine hundred and Fifty Nine only) in respect of the credit facility mentioned in the OA alongwith cos! charges, pendente lite fuh11e 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 facility to Defendant No. 1 and 2 (hereinafter jointty and severally as "the Borrowers") for which Defendant No. 3 and Astood personal Factual matrix:
1.(a) As per OA, on being approached by the pplicant provided Rupee Term Loan of Rs. 9,60,000/ - ("RTL,,)
construction of Farm
House based on the
by them and the
additional security of personal
by Defendant No. 3 and
4.The Borrowers secured
RTL
tirg u Mortgage Deed dated
05/06/2008 in respect of
al Iands (as set out in the
Deed) located in
N
and 99 all in Village Shivangaon, Taluk
and District N
registered with SRO, Nashik - 1.
(b) As per the
in spite of repeated demands, failed and dues in respect of the RTL. Consequently the neglected Notice to all the Defendants through its Advocate to repay the entire outstanding amount of the RTL
ure to rcpayt 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 Ac! ordered issue of Summons to Defendants.
(b) summons to the Defendants were sent by Registered post with Acknowledgement Due. But neither Acknowledgement Due Cards received back (in confirmation of delivery) nor Postal covers returned undelivered.
.,
Hence, on the application made by Applicants, Tribunal allowed substituted service by way of paper publication. 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 12/12/2018 by an Order of the Tribunal.
Proceedings:
3. As directed by the Tribunal, Applicant filed, through Gangurde, Branch Manager, Claim Affidavit enclosing v Annexures (which have been taken on record the Tribunal AS
"Exhibits") and also filed Certi{ied Sta Account,,,,to gether with the Certificate issued under Information 2000 and Certificates under Bankers Books of Evidence (which are marked as Exhibit '19", '20", & '.'21")
as Exhibits and gone
through by the Tribunal the
relevant for the Tribunal to
consider and dispose of the
on
Observation on Evidences provided& Claim made:
4. The Statement of Account filed by the Applican! certified as per Bankers Books of Evidence Act, 1891,, talLied with claim in OA. Further, the case of the Applicant is based on various Documents (including the above referred Govind AS
S. No.
Facility
Document
Exhibit
Letter (Office Copy)
rSafiCtion
Articles of Agreement (Original)
'-J.6"
Loan-cum-Hypothecation Agreement
(Original)
"L4'
Personal Guarantee of Def 3 & a (Or1)
,r15r,
Mortgage Deed by Def 1, &. 2 i/r of
their immoveable properties (Regd
with SRO, Nashik - 1) (Original)
,r17r,
Rupee
(Rs.9
Recall Notice (Office Copy)
,r19il
,r13r,
..\
Order TOA 1814 of 2016 (Ex-parte)(Fina1)
Exhibits) filed alongwith Claim Affidavit, 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 reasonable doubt to the extent of sanctioning the RTL, completing documentation and disbursement of the RTL.
5. The Applicant has claimed interest at the rate of 12.50% p.
from the date of filing of the OA till its realisation. Having of the RDDB Act (which is analogous to Sec. 34 of Civil Proced 1e08)
the contract between the Applicant and
I .i..
comes to an end on the
filing of the OA. Thus the Tribunal has
awarding pendente lite
and future interest. Considering
by banks for
similar facility,I am of the
will be served if the
rate interest is awarded at the
simple interest basis
6. In the light of above
Application is being allowed and
Order passed on
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ORDER
(r) is allowed with costs and decree to be issued on the
(ii) be a Decree in favour of the Applicant for Rs. 18,36,959 /- (Rupees Eighteen lacs Thirty Six thousand Nine hundred and Fifty Nine otly) alongwith future interest at the rate of 12.00% per annum (on simple interest basis) from the date of filing of the Original Application tiIl the date of realisation in respect of Rupee Term Loan ("Decreed Amount for RTL");
(ii0 Defendant No. L ar.d z, the Borrowers, and. Defendant No. 3 and 4, the Guarantors, are ordered to pay,joi"tly 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 "17" beirtg the immoveable properties mortgaged) be attached / taken possession of and be sold and, after satisfying the Decreed t for RTL or the shortfall, as the case may be, the surplus be refurned No. 1 and 2. Contrarily, in the event of further shortfall, the be proceeded against personally by way of decree and personal assets / estates of Defendant No. and personal assets / estates of Defendant No. 3 and 4 be attached as the case may be; (i") Defendant No. 1 to 4are Debts Recovery Tribunal - iil, of theirs as also moveable and jointly or Clause (iii) a (") for the dues f shortfall, to the Recovery Officer, b1e and immoveable assets directed to declare, on oath, both business(es) carried by them either of attachment and sale as directed under are injuncted from dealing with the assets described in declared on oath as per Clause (iv) above in any manner the complete recovery of Decreed Amount under Clause (ii) ("i) Recovery Certificate be issued forthwith as per above decree and sent to the Recovery Officer, Debts Recovery Tribunal _ III, Mumbai;
(vii) Parties are directed to appear before the Recovery officer, Debts Recovery Tribunal - III, Mumbai; \.1; \
(viii) Copies of final order be sent to all concerned free of cost and File be consigned TS Presiding Debts Recovery Tribunal - I[, Mumbai. (Pronounced in open Court) Dated :2}h}i4.ay 2019 ir3.N. to records.