Allowed

State Bank of India v. Harsha Somnath Avhad

DRT12 Dec 2023OA/169/2022

Case brief

AI extract

What is this about?

In an ex-parte original application before the DRT Pune, the court allowed the State Bank of India's suit for recovery of a housing loan default. The court directed the non-appearing defendants to pay the adjusted principal and future interest, secured by the mortgaged property. Penal interest was disallowed.

What did the court decide?

Defendants directed to pay Rs.30,21,050/- with future interest @7.30% p.a.; recovery certificate issued; permission to sell mortgaged property granted.

State Bank of India versus Harsha Somnath Avhad — Contract and Commercial Disputes | DRT (2023)

¶1

Presented on : 01.01.2022 Registered on : 10.03.2022 Decided on : 12.12.2023 Duration : Y M D 01 11 11

¶2

IN THE DEBTS RECOVERY TRIBUNAL AT PUNE (Before Shri Dilip G Murumkar, Presiding Officer) ORIGINAL APPLICATION No. 169/2022.

¶3

State Bank of India,

¶4

A Banking Company constituted under the State Bank of India Act, 1955 and having its Corporate Office at State Bank Bhavan, Nariman Point, Madam Cama Road, Mumbai 400021 and its branch at – SPBB Deccan Gymkhana Branch, Second Floor, Wardhaman, Seven Loves Chowk, Plot No. 321/A/3, Mahatma Phule Peth, Pune 411042.

¶5

.. Applicant

¶6

Versus

¶7

1 Mrs. Harsha Somnath Avhad, Flat No. 201, A Wing, Todkar Angan Near ZP School, Yewlewadi, Kondhwa, Pune 411048.

¶8

2 Mr. Somnath Laxman Avhad, Flat No. 201, A Wing, Todkar Angan Near ZP School, Yewlewadi, Kondhwa, Pune 411048.

.. Defendants

(OA No. 169/2022)

Page 1 of 5

Sanap

APPEARANCES

For Applicant	Advocate Sudha Koloti.
For Defendants	Exparte.

¶15

TOTAL CLAIM AMOUNT –Rs.30,91,107/-

¶16

JUDGMENT

¶17

(Delivered on 12^th December, 2023)

¶18

The Applicant Bank has filed the present application for recovery of the sum of Rs.30,91,107/- together with future interest @7.30% per annum from the date of Application till realization of the entire dues from the defendant.

¶19

Brief facts of the application are as under:

¶20

The defendants approached the applicant Bank with application dated 14.09.2016 for takeover of existing housing loan from Gruh Finance. Accordingly, the applicant Bank sanctioned and disbursed the Housing Loan under Maxgain Scheme total amount of Rs.22,42,000/- consisting of two facilities i.e. Home Loan of Rs.21,62,000/- and Funding of Home Loan Insurance Cover of Rs.80,000/- to the defedants vide Arrangement Letter dated 17.10.2016.

¶21

In order to secure the aforesaid loan, the defendants executed necessary loan and security documents along with deed of mortgage of Flat No. 201, A Wing, Todkar Angan, S.

(OA No. 169/2022)

Page 2 of 5

Sanap

No. 41, Hissa No.2A (Old S.No. 67 Kondhwa Budruk), Yewlewadi, Taluka Haveli, District Pune in favour of the applicant Bank. The defendants agreed to pay interest @9.30% per annum with monthly rests.

¶26

The applicant Bank contended that the defendants committed defaults in payment of installments and failed to regularize the accounts. Therefore, on 03.12.2021, the applicant Bank issued legal Notice to the defendants. Despite service of Notice, the defendants failed and neglected to pay the outstanding dues of the applicant Bank.

¶27

Hence, this application is filed.

¶28

The defendants failed to appear despite service of summons. Hence, the application proceeded ex-parte as per Order dated 08.12.2023 passed below Application (Exhibit-1).

¶29

The applicant Bank has filed Claim Affidavit of evidence (Exhibit-5) of Jagdish Mohan Nakade, Chief Manager of the applicant Bank, and has produced on record the original loan transaction documents at Sr. Nos. AW-1 to AW-23 along with list (Exhibit 7), which corroborates the case of the applicant Bank.

¶30

I have heard arguments of the learned Advocate for the

(OA No. 169/2022)

Page 3 of 5

Sanap

applicant Bank.

Since the defendants failed to appear and contest the application, I find no reason to disbelieve evidence of the applicant Bank. Therefore, the applicant Bank is entitled for reliefs as claimed.

¶36

The applicant Bank has claimed Penal Interest of Rs.70,057/-, which cannot be granted and the same is required to be deducted from the total claim amount. Therefore, the total claim amount of Rs.30,91,107/- is reduced to Rs.30,21,050/-.

¶37

Hence, I pass the following order :-

¶38

ORDER

¶39

(A) Original Application No. 169/2022 is allowed with costs.

¶40

(B) The defendants either jointly or severally shall pay to the applicant Bank the sum of Rs.30,21,050/- (Rupees Thirty Lakhs Twenty One Thousand Fifty only) along with future interest @7.30% per annum from the date of filing of the Original Application i.e. 01.01.2022 till full payment/realization of the amount mentioned in this operative order.

(OA No. 169/2022)

Page 4 of 5

Sanap

valid and subsisting mortgage of the immovable property i.e. Flat No. 201, A Wing, Todkar Angan, S. No. 41, Hissa No.2A (Old S.No. 67 Kondhwa Budruk), Yewlewadi, Taluka Haveli, District Pune, more particularly described in Para No. 3 of the Original Application.

¶46

(D) The applicant Bank is entitled to sell the mortgaged property to recover its dues.

¶47

(E) Issue Recovery Certificate.

¶48

(F) The Registrar is directed to send the copy of Judgment and Recovery Certificate to the applicant and defendants.

¶49

Place : Pune Date : 12.12.2023

¶50

Sd/(Dilip G Murumkar) Presiding Officer Debts Recovery Tribunal, Pune.

¶51

(OA No. 169/2022)

¶52

Page 5 of 5

¶53

Sanap

State Bank of India v. Harsha Somnath Avhad

Case brief

What is this about?

What did the court decide?

State Bank of India v. Harsha Somnath Avhad

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

Similar cases

Canara Bank versus Abhinav Matsya Vyavasay Vikas Va Prakirya Sahakari Sanstha Maryadit

Bank of Maharashtra versus Vikram

Hdfc Bank versus Vijay Baburao Gujar

State Bank of India versus Mrs Savita Vilas Chandgude

Punjab National Bank versus Shantilal Zagade

State Bank of India versus Alex Jacob