Partly allowed

State Bank of India v. Jitesh Lohani

DRT9 Oct 2023OA/1448/2023

Case brief

AI extract

What is this about?

Debt Recovery Tribunal dated an ex parte ad interim order restricting respondents from alienating Schedule B and C properties, and directing them to furnish equivalent security or show cause, ensuring priority of asset disposal pending OA.

What did the court decide?

Restrain respondents from dealing with/disposing of Schedule B and C properties; direct furnishing of security equivalent to OA claim or show cause; order to register encumbrance.

State Bank of India versus Jitesh Lohani — Banking and Recovery | DRT (2023)

¶1

IN THE DEBTS RECOVERY TRIBUNAL.I, KARNATAKA AT BENGALURU

¶2

Dated this the 9th day of Octobe r 2023

¶3

Present: Sri IMTIAZ ALI

presiding Officer

IA No.l7L/2O29

O.A. No. L44a/Zozs

BETWEEN:

State Bank of India, RACPC. III,

¶10

"Maruthi Mansion",

¶11

7M-422, B0 Feet Road,

¶12

Kalyana Nagar,

¶13

Bangalore - 560 043,

¶14

Represented by its Chief Manager (Maintenance)

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Mr R. Seetharam

¶16

AND:

¶17

PETITIONER/ APPLICANT BANK

¶18

Mr. Jitesh Lohani,

¶19

S/o Mr. Bharat^prasad Lohani,

¶20

Mrs. Deepa Lohani, W/o Mr. Jitesh Lohani,

¶21

1 & 2 are residing at: No.B05, Bth Floor, putitzer Block, Purva Foundation Square, Varthur Road, Marathahalli, Bengaluru - 560 037

¶22

Also at:

¶23

Flat No.4118, Tower 4, Prestige Shantiniketan, ITPL Main Road, Whitefield, Bengaluru - 560 066

¶24

¶25

M/s. Lily Realty pvt. Ltd., A Group Company of M/s. Pashmina Builders and Developers^pvt. Ltd.,

¶26

t.A.No.17112023ⁱⁿ O.A.No.1448/2023

¶27

RESPONDENTS/ DEFENDANTS

¶28

M/s. Pashmina DeveloPers, Represented by its Authorized SignatorY,

¶29

3 and 4 are at:

¶30

No.502, Bengal Chemical^Building, 3'd Floor, Veer Savarkar^Marg, Prabhadevi, Mumbai - 400 025

¶31

Also at:

¶32

No.19/1, Doddamane Building, 2nd Floor, Vittal Mallya^Road, Bengaluru - 560 001

¶33

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.71,591,122l- togetherwith} agreed rate of interest, costs,^chargesetc'

¶34

The above Interlocutory^{Application is filed by the} Applicant Bank with affidavit of^{itsChief Manager} (Maintenance) Mr R. Seetharam, seeking to^{grant an order of} attachment of the^{Schedule-Band C properties belonging to} the Defendants, during the^{pendency of the OA, in the} interest of^justice and equity.^{In the affidavtt, inter alia, it is} cpntended that the^{ApplicantBank has releasedthe loan} amounts sanctioned to the^{first and the second Defendantson} the specific request of the^{Defendants. However, the} Defendants have failed to^{mortgagethe Schedule-B and C} properties to secure the loans obtained by the first^{and the}

¶35

¶36

1.A.No.17112023 in O.A.No.1448/2023

¶37

second Defendants and have also failed to repay the loans to the Applicant Bank. For the OA claim with interest, the Applicant Bank is entitled for a charge on the Schedule_B and C properties. Applicant Bank apprehends if the Defendants create any third-party interest, it would result in obstruction, delaying and/or frustrating the execution of any order for the recovery of debt that may be passed against the Defendants. Hence, the Applicant Bank has sought to allow the present I.A. as prayed for.

¶38

¶39

It appears that the Applicant Bank has filed the IA on the premise that the Defendants may alienate the Schedule-B and C properties in favour of any other agency or third party. It cannot be disputed that the amount in question is increasing by adding interest and admittedly the amount involved is a huge sum. Considering the huge amount of 0/r involved in this case, and balance of convenience, the present IA is to be allowed, if the Defendants fail to furriish securi$, equivalent to claim amount, by keeping open the merits of the case and without prejudice to the rights of both the parties. By doing so, no prejudice, nor harm nor loss will be causecl to the Defendants. As the Applicant Bank has prima facie established the essential ingredients for granting an ex parte ad interim order, I proceed to pass following:

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1.A.No.17112023ⁱⁿ o.A.No.1448/2023

¶41

ORDER

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Defendants are hereby^{directed to furnish security} equivalent to OA claim^{amount on or beforethe next} date of hearing or to^{appear and show causewhy the} Defendants should not^{furnish security,failing which} interim relief sought in IA^{No.17112023 will stand} allowed.

¶43

Serve notice to the Defendants/Respondents^{on IA} by RPAD. Applicant Bank is also^{directed to produce} a copy of this order^{beforethe jurisdictionalSub-} Registrar's office to make an entry^{in its revenue} records/encumbrance certificate^{pertaining to the} Schedule-B and C^properties.

¶44

SCHEDULE^.A' PROPERTY

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DescriDtion f Entire Propelt and Fourth Defendants)

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Larqer ProDertv:

¶47

¶48

All that^piece and^{parcel of ResidentiallyConvertedLand} bearing Sy. Nos.4, 5li-,^{512,6/L, 612, 613, 614,71t,712' 7/3,} 7/4, 7/5, 716, 8lt, 8/3,^{B/4, 9/2,913, 9/4, 9/5, tO/1, to/2,} t1l3, tO/4, 1212, 16ll,^{16/2, 16/3, 1614 and 17, totally} measuring about 15 Acres 37^{Guntas (about 64,445.65Sq'} Mtrs), situated at^{BhattarahalliVillage, Bidarahalli Hobli,} Bengaluru East Taluk, duly^{convertedfor Non-Agricultural} Residential^{purposes vide Orders bearing Nos':}

¶49

1.A.No.17112023 in O.A.No.1448/2023

¶50

(1) ALN.(E)/SR.ssl2006-07, dated 3oltolzoog, (2) ALN.(E)/SR.52/2OO6-07, dated 30/10/2008, (3) ALN.(E)/SR.51/2006-07, dated tO/Lr/20o8, (4) ALN.(E)/SR.37 /2006-07, dated 30/10/2008, (s) ALN.(E)/SR.3sl2006-07, dated 30/Lo/2oo}, (6) ALN.(E)/SR.36/2006-07, dated 22/LO/2OOB, (7) ALN.(E)/SR.35/2006-07, dated 3t/LO|2OOB, (8) ALN.(E)/SR.53/2006-07, dated tr/tL/2ool,

¶51

(9) ALN.(E)/SR.35/2006-07, dated 12103 /2OO9 and (10) ALN.(E)/SR.50/2006-07, dated Ll/LL/ZOOB, and the entire property presently bearing Bruhath Bengaluru Mahanagara Palike Municipal Khata No.149, situated in Bhattarahalli Village, Municipal Ward No.52 and the entire property measuring about 57,034.27 Sq. Mtrs. (after relinquishing 7,4t1.38 Sq. Mtrs of area to Bengaluru Development Authority) and the entire property is bounded on:

¶52

East by Medahalli Village Boundary, West by Bhattarahalli Tank & proposed Road, North by Private Properties, South by National Highway No.4/Old Madras Road.

¶53

Schedule.A, propertv for phase I

¶54

¶55

All that part and parcel of immovable converted property bearing Sy. Nos. 7/t,7/2,7/3,7/4,7/5,7/6, BlL, a/3, B/4, 9/2,9/3,9/4,9/5, LO/L, LO/Z, LO/3, tO/4, LZ/2 and part of Sy. Nos. 5, 6, t6 and L7, totally measuring about 7 Acres 30 Guntas forming part of the property described in Schedule.A, Property above, viz., part of the Municipal No.149 (in the records of Bruhath Bengaluru Mahanagara palike), situated in Bhattarahalli Village, Municipal Ward No.52 and the property is bounded on:

¶56

1.A.No.17112023ⁱⁿ O.A.No.1448/2023

¶57

East by Portion of Sy. No.5 and^{SY. No.16,} West by Sy. No.11, North by Portion of Sy. Nos.5 and^{6 and} Bhattarahalli Lake, South by Sy. No.15 and Private^{Propertycurrently} known as "Evoma Hotel"

¶58

SCHEDULE^{.8, PROPERTY}

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to be conveyed to First^{and Second Defendants)}

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373 Sq. Ft. of Undivided^{Share,Right and Title in the} Schedule'A' ProPetties.

¶61

SCHEDULE'C' PROPERTY

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(Descriotion of Apartment to be solcl in favour of First and Second Defendants)

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All that^piece and^{parcel of ResidentialApartment bearing Flat} No. TO4t7A, on the 17th^{Floor, Phase I,Tower I04,} constructed in the^{Apartment Building known as 'PASHMINA} WATERFRONT" to be^{constructedin Schedule'A' Properties} and Flat measuring 1,864^{Sq. Ft. of super built-uparea with} proportionate share in common^{areas such as passages,} lobbies, staircase along^{with one car parking spaces.}

¶64

For steps/appearance/further^{proceedings before Registrar}

¶65

call on L7.OL.2O24.

¶66

\ - 'o'q'? (rMTrAI'Atr1 PRESIDING OFFICER DRT.I, BENGALURU

¶67

*ashr}

¶68

IN THE DEBTS RECOVERY TRIBUNAL-I, KARNATAKA AT BENGALURU

¶69

Dated this the 9th day of October 2023

¶70

Present: sri IMTIAZ ALI

Presiding Officer

tANo.t72lZo2g IN

O.A. No.1448lZO23

BETWEEN!

State Bank of India, RACPC. III, "Maruthi Mansion", 7M-422, B0 Feet Road, Kalyana Nagar, Bangalore - 560 043, Represented by its Chief Manager (Maintenance) Mr R. Seetharam

¶76

A N D:

¶77

.. PETITIONER/ APPLICANT BANK

¶78

Mr. Jitesh Lohani, S/o Mr. Bharat^prasad Lohani,

¶79

Mrs. Deepa Lohani, W/o Mr. Jitesh Lohani,

¶80

1 & 2 are residing at: No.805, 8th Floor,^pulitzer Block, Purva Foundation Square, Varthur Road, Marathahalli, Bengaluru - 560 037

¶81

Also at:

¶82

Flat No.4118, Tower 4, Prestige Shantiniketan, ITPL Main Road, Whitefield, Bengaluru - 560 066

¶83

M/s. Lily Reatty pvt. Ltd., A Group Company of M/s. Pashmina Builders and Developers Pvt. Ltd.,

¶84

1.A.No.172l2023 in O.A.No.1448/2023

¶85

4. M/s. Pashmina DeveloPers, Represented by its Authorized Sig natory,

¶86

3 and 4 are at:

¶87

No.502, Bengal Chemical Building, 3'd Floor, Veer Savarkar Marg, Prabhadevi, Mumbai - 400 025

¶88

Also at:

¶89

No.19/1, Doddamane Building, 2nd Floor, Vittal Mallya Road, Bengaluru - 560 001

¶90

RESPONDENTS/ DEFENDANTS

¶91

EX PARTE AD INTERIM ORDER ON IA^NO.17212023

¶92

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.71,591,122l-^togetherwith agreed rate of interest, costs,^{charges etc.}

¶93

The above Interlocutory Application is filed^{by the} Applicant Bank with affidavit of its^{Chief Manager} (Maintenance) Mr R. Seetharam, seeking to^grant an^{order of} interim injunction restraining the^{Defendantsfrom alienating} or in a way dealing with Schedule-B^{and C propedies,during} the pendency of the OA, without the^{prior permission of the} Tribunal, in the interest of^{justice and equity. In the affidavit,} inter alia, it is contended that the Applicant^{Bank has released} the loan amounts sanctioned to the first and the^second Defendants on the specific request of the^Defendants. However, the Defendants have failed to^mortgagethe

¶94

¶95

1.4.No.712/202?. in o.A.No.1446/2023

¶96

Schedule-B and C properties to secure the loans obtained by the first and the second Defendants and have also failed to repay the loans to the Applicant Bank. For the OA claim with interest, the Applicant Bank is entifled for a charge on the Schedule-B and C properties. Applicant Bank apprehends if the Defendants create any third-party interest, it would result in obstruction, delaying and/or frustrating the execution of any order for the recovery of debt that may be passed against the Defendants. Hence, the Applicant Bank has sought to allow the present I.A. as prayed.

¶97

It appears that the petitioner/Applicant Bank has filed the above I.A. on the premise that Defendants may alienate or dispose of in any way creating third_party interest on the Schedule-B and C properties. Considering the huge amount of O.A. involved in this case, and balance of convenience, the present IA is to be allowed by keeping open the merits of the case and without prejudice to the rights of both the parties. By doing so, no prejudice, no harm and no loss will be caused to the Defendants. As the Applicant Bank has prima facie established the essential ingredients for granting ex parte ad interim order of injunction, I proceed to pass following:

¶98

ORDER

¶99

¶100

Defendants, their agents, representatives, assigns, etc., or any other person/s claiming under

¶101

1.A.No.172/2023 nj o.A.No.1448/2023

¶102

them are hereby restrained^{from dealing with,} disposing of, selling, transferring,^alienating, encumbering, parting with^{possession,creating} third-party right(s), title, interest and^claim of^any nature whatsoever in any manner in^{respect of the} Schedule-B and C^properties, during the^pendency of the OA.

¶103

Issue summons on O.A. and notices on I.A. to Defendants/Respondents by RPAD. Liberty^is granted to Defendants to apply before this Tribunal for modification, variation or cancellation of this order.

¶104

SCHEDULE.A, PROPERTY

¶105

(Descriotion of Entire Prooertv owned bv Third and Fourth Defendants)

¶106

Larqer ProDertv:

¶107

All that piece and^parcel of Residentially Converted^Land bearing Sy. Nos.4, 5/1,5/2, 6/1, 612,6/3, 6/4,71t,7/2,7/3, 7/4, 715, 7/6, Blt, 813, B/4, 9/2, 913, 914, 9/5, tll1,^LO/2, LO/3, lO/4, L2/2, 16/1, L6/2, 16/3, t6/4 and 17,^totally measuring about 15 Acres 37 Guntas^(about 64,445.65 Sq. Mtrs), situated at Bhattarahalli Village, Bidarahalli^Hobli, Bengaluru East Taluk, duly converted for^{Non-Agricultural} Residential^purposes vide Orders bearing Nos.:

¶108

(1) ALN.(E)/SR.55/2006-07, dated 30/10/2008,

¶109

(2) ALN.(E)/SR.52/2Oo6-o7, dated 30/10/2008,

¶110

¶111

l.A.No.7l2/2023 in O.A.No.1448/2023

¶112

(3) ALN.(E)/SR.s112006-07, dated to/ttl2oo9, (4) ALN. ( E )/SR.37 / 20oG -o7, dated 30 / to / 2008, (5) ALN. ( E)/SR. 35/2006-07, dated 30 / r\l 2OOB, (6) ALN.(E)/SR.36/2006-07, dated 22/ Ll/zoo}, (7) ALN.(E)/SR.35/2006-07, dated 3t/LO/2OOB, (B) ALN.(E)/sR.s3l2006-07, dated tt/tt/2oo9, (9) ALN.(E)/SR.35/2006-07, dated t2/O3lzOO9 and (10) ALN.(E)/SR.s0l2006-07, dated rt/tt/2o}B, and the entire property presenfly bearing Bruhath Bengaluru 'Mahanagara Palike Municipal Khata No.149, situated in Bhattarahalli Village, Municipal Ward No.52 and the entire property measuring about 57,O34.27 Sq. Mtrs. (after relinquishing 7,4L1.38 Sq. Mtrs of area to Bengaluru Development Authority) and the entire property is bounded on:

¶113

East by Medahalli Village Boundary, West by Bhattarahalli Tank & proposed Road, North by Private Properties, South by National Highway No.4/Old Madras Road.

¶114

Schedule^{.A, prooertv} for phase I

¶115

All that part and parcel of immovable converted property bearing Sy. Nos. 7/L,7/2, 7/3, 7/4, 7/5, 7/6, B/L, B/3, 8/4, 9/2,9/3,9/4,9/5, LO/L, LO/2, LO/3, LO/4, t2/2 and part of Sy. Nos. 5, 6, 16 and 17, totally measuring about 7 Acres 30 Guntas forming part of the property described in Schedule .A, Property above, viz., part of the Municipal No.149 (in the records of Bruhath Bengaluru Mahanagara palike), situated in Bhattarahalli Village, Municipal Ward No.52 and the property is bounded on:

¶116

East by Portion of Sy. No.5 and Sy. No.16, West by Sy. No.11, North by Portion of Sy. Nos.5 and 6 and

¶117

¶118

1.A.No.172l2023 in O.A.No.1448/2023

¶119

Bhattarahalli Lake,

¶120

South by Sy. No.15 and Private Property currently known as "Evoma Hotel"

¶121

SCHEDULE^.B' PROPERTY

¶122

(Description of Purchasers' Undivided Interest aqreed to be conveyed to First and Second^Defendants)

¶123

373 Sq. Ft. of Undivided^{Share,Right and Title in the} Schedule'A' Properties.

¶124

SCHEDULE^.C' PROPERTY

¶125

All that^piece and^{parcel of ResidentialApartment bearing Flat} No. TO4L7A, on the lTth^{Floor, Phase I,Tower TO4,} constructed in the Apartment^{Building known as 'PASHMINA} WATERFRONT', to be^{constructedin Schedule'A' Propefties} and Flat measuring^{1,864 Sq. Ft. of super built-uparea with} proportionate share in common^{areas such as passages,} lobbies, staircase along^{with one car parking spaces.}

¶126

For steps/aPPearance/further proceedings before Registrar

¶127

call on L7.OL.2O24.

¶128

\ \q $u9 (rMrrAz ALr) PRESIDING OFFICER DRT-I, BENGALURU

¶129

#ash*

State Bank of India v. Jitesh Lohani

Case brief

What is this about?

What did the court decide?

State Bank of India v. Jitesh Lohani

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Parties & counsel

Coram

Case details

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