Debts Recovery Tribunals and Appellate Tribunals
THE COSMOS CO OPERATIVE BANK LIMITED vs HolyWoodAcademy on 17 April 2024
[KAUR]
Presented on:
01.04.2024
Registered on:
03.04.2024
Decided on:
17.04.2024
Duration:
Y M D
- - 16
IN THE DEBTS RECOVERY TRIBUNAL AT PUNE
(Before Shri Dilip G Murumkar, Presiding Officer)
Miscellanoues Application No.12/2024
The
Cosmos
Co-operative
Bank
Limited,
A
bank
deemed
to
have
been
registered under the provisions of
The Multi-State Co-operative Societies
Act, 2002 and having its Registered
Office at - `Cosmos Tower’, Plot No.6,
ICS
Colony,
University
Road,
Ganeshkhind, Shivajinagar, Pune –
411 007 and having one of its
Branches at – C.S. No.1958/59, V-
Mart,
“C”
Ward,
Laxmi
Road,
Laxmipuri,
near
Chandrarup,
Kolhapur, Maharashtra – 416 002.
… Applicant
Versus
1.
M/s.
Holy-Wood
Academy,
Kolhapur
A public charitable registered under
Bombay Public Trust Act, 1950 having
its registration No.F/8077/Kolhapur
and having its registered office at –
Somwar
Peth,
Injole,
Taluka
–
Panhala, District – Kolhapur 416 201.
[KAUR]
2.
Mr. Prakash Ramarao @ Ramrao
Bhosale, Chairman
Age – 62 years, Occupation : Service
R/at
–
Narande,
Taluka
–
Hatkanangale, District – Kolhapur.
3.
Mr. Dilip @ Diliprao Pandurang
Pawar
Age – 72 years, Occ- Agriculturist
R/at – 30, Deep, E Ward, Kadam
Wadi Road, Kolhapur – 416 003.
4.
Mr. Ganpatrao @ Ganapat Nathaso
Kharade
Age – 70 years, Occ- Agriculturist
R/at
–
3rd
Floor,
Chandra
Apartments, Mangalmurti Colony,
Sangli.
5.
Mr. Rajkumar Ramchandra Bhosale,
Age
–
years,
Occupation
:
Agriculturist
R/at
–
Narande,
Taluka
–
Hatkanangale, District – Kolhapur
6.
Mr. Nandkumar Ramchandra Bhosale
Age
–
years,
Occupation
:
Agriculturist
R/at
–
Narande,
Taluka
–
Hatkanangale, District – Kolhapur
7.
Mr. Mohan Shankar Lohar
Age – 63 years, Occ: Service
R/at
–
252K,
Plinth
no.21,
Trimbakeshwar Nagar, Nagala Park,
Kolhapur – 416 003.
8.
Mrs. Nirmala Vishwas Ghorpade
[KAUR]
Age – 60 years, Occupation – Service
R/at – 189, Sai Krupa, Shaniwar Peth,
Goleshwar Road, Soubhagya Mangal
Karyalay, Karad, District – Satara.
9.
Mr. Rajendra Dinanath Kandgaonkar
Age – 59 years, Occupation: Business
R/at – Flat No.D-1, Mahadik Colony,
Girija Apartments, Kolhapur.
10. Mr. Shrikant Bhausaheb Ghatge
Age – 70 years, Occupation – Business
R/at – 158, E Ward, Kadam Wadi,
Kolhapur.
... Defendants
APPEARANCES
For the Applicant
Mr.
Vijay
V.
Chandawale
-
Advocate
For defendant No.1
Mr. N.K. Khasbardar – Advocate
Defendant Nos.2 to 10
Ex parte
Citations and Judicial Treatment
Cited by
0
Decisions in the index citing it
Cites
0
Decisions referred to
In this index
0
Of the decisions it cites
Overruled / Questioned
0
No negative treatment found
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JUDGEMENT
(Delivered on 17th April, 2024)
1. By the present application the applicant Bank has claimed relief for issuance of Recovery Certificate for Rs.7760.92 Lakhs along with future interest @14% p.a. from the date of filing of Original Application i.e. from 22nd October, 2020 along with penal interest thereon until entire amount is realised and keep charge on mortgaged properties.
[KAUR]
2. Defendant No.1 appeared but failed to file Reply. An ex parte order has been passed against defendant Nos.2 to 10 as they failed to appear despite service of Notice and on the ground of not claiming Notice of this Application sent at their address and order to that effect has been passed below Exhibit-1.
3. Heard both the parties.
4. The learned Advocate appearing on behalf of the applicant Bank by taking me through documents produced on record submitted that the defendants have failed to comply their obligation to repay the amounts as per Consent Terms. Therefore, as per its default terms, the applicant Bank is entitled for Recovery Certificate for amount mentioned in the Original Application along with future interest. Therefore, application may be allowed by granting reliefs.
5. The learned Advocate appearing for defendant No.1 candidly admitted breach of Consent Terms on part of defendants and submitted that appropriate order may be passed.
6. Perused the record. The applicant bank has filed OA No.568/2021 against the defendants and thereby have
[KAUR]
claimed an amount of Rs.52,42,00,428.78Ps along with interest @14% per annum from the date of filing of Original Application till full realization of amount claimed. It also claimed penal interest @2% per annum and claimed charge on hypothecated property and on mortgaged immovable properties of defendant No.1.
7. During pendency of the Original Application settlement took place between applicant Bank and defendants and they jointly filed Consent Terms. Accordingly, Original Application has been disposed of in terms of Consent Terms.
8. As per Consent Terms if defendants commit breach in respect of repayment of loan, automatically the applicant Bank is entitled to recover the claim amount of Original Application along with interest.
9. Admittedly, the defendants have failed to make payment as per Consent Terms and therefore, the applicant Bank is entitled to recover amount claimed in the Original Application along with future interest and costs of the application. Hence, application deserves to be allowed. Therefore, I pass the following order:
[KAUR]
ORDER
A. Miscellaneous Application No.12/2024 is allowed.
B. Issue Recovery Certificate in following terms:
(a) Defendant Nos.1 to 10 either jointly or severally shall pay to the applicant Bank the sum of Rs.52,42,00,428.78Ps (Rupees Fifty-Two Crores Forty-Two Lakhs Four Hundred Twenty-Eight and Paise Seventy-Eight only) with future interest @14% per annum from the date of filing of the Original Application i.e. 22nd October, 2020 till full realization of the same and costs of the application.
(b) The applicant Bank is not entitled to claim penal interest on the claim amount.
(c) Charge of the said amount is kept on the properties mortgaged in favour of the applicant Bank i.e.
(1) All those piece and parcel of the lands situated at Village – Injole, Taluka – Panhala, District – Kolhapur having description- Sr.No. Gat No. Total Area Mortgaged Area
[KAUR]
02.61.00 02.61.00
2. 00.30.00 00.30.00
3. 00.37.00 00.37.00
4. 00.96.80 00.96.80
5. 33A 00.48.00 00.48.00
6. 33B 00.21.00 00.21.00
7. 34A 00.12.80 00.12.80
8. 34B 00.16.00 00.16.00
9. 00.23.60 00.23.60
10. 00.49.60 00.49.60
11. 00.09.00 00.09.00
12. 00.28.00 00.28.00
13. 00.11.10 00.11.10
14. 00.07.10 00.07.10
15. 00.19.50 00.19.50
16. 00.11.00 00.11.00
17. 00.33.00 00.33.00
18. 01.02.90 01.02.90
19. 64A 00.78.90 00.78.90
64B 00.46.50 00.46.50
21. 00.99.10 00.99.10
22. 00.04.00 00.04.00
23. 00.02.00 00.02.00
24. 00.88.00 00.88.00
25. 01.17.00 01.17.00
26. 03.05.90 03.05.90
27. 02.75.10 02.75.10
28. 101A 04.03.70 04.03.70
[KAUR]
29. 101B 03.16.25 03.16.25
All those piece and parcel of properties being the lands and building situated at Village-Somwar Peth, Taluka-Panhala, District-Kolhapur having description- Sr. No. G.P. No. Total Area Sq. Mtrs. Having Built up Area Sq. Ft. Having Built up Area Sq. Mtrs.
17 (Old
539.03
237.46
2. 36 (Old 34, 35 &
801.25
580.17
3. 699.74
4. 21283 1977.25
5. 3295.70 35454 3293.78
6. 21918 2036.24
7. 2147.67 23101 2146.15
8. 1081.30 11631 1080.55
(d) The applicant Bank is entitled to sell the mortgaged properties to recover its dues.
C. The Registrar is directed to send the copy of Judgment and Recovery Certificate to the applicant
[KAUR]
and defendants.
Pronounced in open Court.
Place : Pune Date: 17.04.2024 Sd/- (Dilip G. Murumkar) Presiding Officer Debts Recovery Tribunal, Pune