Allowed

Union Bank of India v. Vidhya Telsang Alias Vidhya Pradeepkumar Telsang

DRT29 Aug 2023OA/1041/2023

Case brief

AI extract

What is this about?

The Tribunal issued an ad interim order directing respondents to disclose all movable and immovable assets on oath, as the applicant bank averred a likelihood of alienation of properties to defeat recovery rights.

What did the court decide?

Directing respondents to disclose all movable and immovable assets and other properties on oath by way of affidavit before the next date of hearing.

Union Bank of India versus Vidhya Telsang Alias Vidhya… — Banking and Recovery | DRT (2023)

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IN THE DEBTS RECOVERY TRIBUNAL-I, KARNATAKA AT BENGALURU

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Dated this the 29th day of August 2023

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Present: Sri IMTIAZ ALI

Presiding Officer

I.A.No.s33/2O23

O.A. No,1041l2023

BETWEEN:

UNION BANK OF INDIA

(Erstwhile Corporation Bank)

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Central office at :

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239, Vidhan Bhawan lYarg

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Nariman Point, Mumbai-400 021

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Branch Office at:

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Dharwad High Court Road Branch,

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Plot No.176 A, Belur Industrial Area, Opp to High Court, Dharwad-580 004

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Represented by its Branch Manager, Iqbal Ahmed Benni

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AND:

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., PETITIONER/ APPLICANT BANK

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Smt. Vidhya Telsang

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Also called as Vidhya Pradeepkumar Telsang, Wife of late Sri Pradeepkumar Telsang. Aged about 46 years,

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Proprietrix of M/s Telsang Travels,

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Old P.B. Road,

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Varadappa Galli Cross Khasbag, Belgaum-590 001

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Miss Priyanka,

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D/o late Sri Pradeepkumar Telsang, Aged about 32 yearc,

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Master Prithviraj,

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S/o late Sri Pradeepkumar Telsang, Aged about 15 years,

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Minor represented by his mother

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t.A.No.533/2023 in O.A.No.1041/2023

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Natural Guardian Smt. Vidhya Telsang, Also called as Vidhya Pradeepkumar Telsang,

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Sri Arun Basavaraj Telsang, Son of Basavaraj Telsang, Aged about 46 years,

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Defendants No.2 to 4 are at H.No.45, Bazaar Galli Khasbag, Belgaum-590 001 RESPONDENTS/ DEFENDANTS

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EX PARTE AD INTERIM ORDER ON IA No.533/2023

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The present OA is filed by the Applicant Bank against the Defendants for issuance of recovery certificate and other reliefs for recovery of a sum of Rs.2,18,90,938/- together with interest thereon, costs, charges, etc.

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The above Interlocutory Application is filed by the Applicant Bank with affldavit of its Branch Manager Mr Iqbal Ahmed Benni, seeking to direct the Defendants to declare their assets standing in their names and not to transfer their assets standing in their names as per Section 19(12) of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993. In the affidavit, inter alia, it is contended that at the time of granting of the credit facilities to the Defendants, the Applicant Bank has not taken any other immovable properties as security and during its visit to the location of the schedule properties, the Applicant Bank came to know that the Defendants with an intention to defraud the Applicant Bank

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1.A.No.533/2023 in O.A.No.1041/2023

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are trying to alienate the propefties standing in their names. If the Defendants succeed in selling away the properties standing in their names, the Applicant Bank apprehends that it will be put to grave injustice and it will be deprived of enjoying the fruits of the order that may be passed by this Tribunal. Hence, the Applicant Bank has sought to allow the above I.A. as prayed for.

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It appears that Defendants are also possessing property/ies other than the property/ies already given to the Applicant Bank as security for the financial assistance granted by it. The Applicant Bank has reasonable apprehension that Defendants are likely to create charges and encumbrances or in any other manner dispose of or alienate their movable, immovable and other assets in order to defeat the rights of the Applicant Bank and there is a very strong likelihood that Defendants will dispose of the assets/immovable properties owned by them or attempt to adversely affect their values by inter alia creating third-party interest. It cannot be disputed that the amount in question is increasing day by day by adding interest and admittedly the amount involved is huge. Considering the huge amount of OA involved in this case and balance of convenience, the present IA is to be allowed as prayed for, by keeping open the merits of the case and without prejudice to the rights of both the parties. By doing

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1.A.No.533/2023 in O.A.No.104U2023

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so, no prejudice or harm or loss will be caused to the Defendant. As the Applicant Bank has pri ma facie established the essential ingredients for^granting an ex^parte ad interim order, I proceed to pass following:

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ORDER

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Defendants are hereby directed to disclose on oath by way of affidavit all the movables, immovable properties and other assets they own/possess, other than the movable items which are mentioned in the Original Application and hypothecated by the Defendants, on or before the next date of hearing.

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For steps/appearance/further^proceedings, before the Registrar Court call on 15.11.2023.

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v <sup>' ^,12' Yt?,9^o (rMrrAz ALr) PRESIDING OFFICER DRT-r, BENGALURU

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+ash+

Union Bank of India v. Vidhya Telsang Alias Vidhya Pradeepkumar Telsang

Case brief

What is this about?

What did the court decide?

Union Bank of India v. Vidhya Telsang Alias Vidhya Pradeepkumar Telsang

Case brief

What is this about?

What did the court decide?

What the court decided

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Issues for consideration

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