Allowed

State Bank of India v. Mrs Savita Vilas Chandgude

DRT12 Dec 2023OA/174/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an application filed by State Bank of India for recovery of dues amounting to Rs. 39,44,774/- along with future interest from the defendant who defaulted on housing and top-up loans. The defendant failed to appear, and the Tribunal ordered payment, issuance of a recovery certificate, and the right to sell the mortgaged property.

What did the court decide?

Recovery certificate issued; defendant ordered to pay principal amounts with future interest; defendant's mortgaged flat made available for sale to recover dues.

State Bank of India versus Mrs Savita Vilas Chandgude — Banking and Recovery | DRT (2023)

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Presented on : 04.01.2022 Registered on : 10.03.2022 Decided on : 12.12.2023 Duration : Y M D 01 11 08

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IN THE DEBTS RECOVERY TRIBUNAL AT PUNE (Before Shri Dilip G Murumkar, Presiding Officer) ORIGINAL APPLICATION No. 174/2022.

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State Bank of India,

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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.

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.. Applicant

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Versus

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Mrs. Savita Vilas Chandgude, Plot No. 101, Flat No. 01, Marmbandh Building, Sector 4, Sant Nagar, Moshi Pradikaran, Taluka Haveli, District Pune 412105 & Flat No. 102, Building A1, First Floor, TARA City, Gat No. 1607, 1609, 1611, 1702, Loni Kalbhor, Taluka Haveli, District Pune 412201.

.. Defendant

(OA No. 174/2022)

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APPEARANCES

For Applicant	Advocate Sudha Koloti.
For Defendant	Exparte.

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TOTAL CLAIM AMOUNT –Rs.39,44,774/-

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JUDGMENT

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(Delivered on 12^th December, 2023)

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The Applicant Bank has filed the present application for recovery of the sum of Rs.39,44,774/- (Rs.29,47,967/- + Rs.9,96,807/-) together with future interest @8.75% and 7.60% respectively per annum from the date of Application till realization of the entire dues from the defendant.

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Brief facts of the application are as under:

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The defendant approached the applicant Bank with application dated 16.05.2018 for takeover/transfer of Housing Loan from Union Bank of India. Accordingly, the applicant Bank sanctioned and disbursed the Housing Loan of Rs.24,50,000/to the defendant vide Arrangement Letter dated 14.06.2018. In order to secure the aforesaid loan, the defendant executed necessary loan and security documents along with deed of mortgage of Flat No. 102, Building A1, First Floor, TARA City, Gat No. 1607, 1609, 1611, 1702, Loni Kalbhor, Taluka Haveli, District Pune, in favour of the applicant Bank. The defendant

(OA No. 174/2022)

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agreed to pay interest @8.35% per annum with monthly rests. Thereafter, again the defendant approached the applicant Bank with application dated 27.07.2018 for grant of Home Top Up Loan for Rs.7,84,000/-. Accordingly, the applicant Bank sanctioned and disbursed the Top Up Loan of Rs.7,84,000/- to the defendant vide Arrangement Letter dated 27.07.2018. In order to secure the aforesaid loan, the defendant executed necessary loan and security documents along with deed of mortgage of Flat No. 102, Building A1, First Floor, TARA City, Gat No. 1607, 1609, 1611, 1702, Loni Kalbhor, Taluka Haveli, District Pune, in favour of the applicant Bank. The defendant agreed to pay interest @8.75% per annum with monthly rests.

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The applicant Bank contended that the defendant committed defaults in payment of installments and failed to regularize the accounts. Therefore, on 01.12.2021, the applicant Bank issued legal Notice to the defendant. Despite service of Notice, the defendant failed and neglected to pay the outstanding dues of the applicant Bank.

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Hence, this application is filed.

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The defendant failed to appear despite service of summons. Hence, the application proceeded ex-parte as per Order dated

(OA No. 174/2022)

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12.01.2023 passed below Application (Exhibit-1).

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The applicant Bank has filed Claim Affidavit of evidence (Exhibit-6) of Smt. Jyoti Bandmatri, Chief Manager of the applicant Bank, and has produced on record the original loan transaction documents at Sr. Nos. AW-2 to AW-24 along with list (Exhibit 7), which corroborates the case of the applicant Bank.

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I have heard arguments of the learned Advocate for the applicant Bank.

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Since the defendant 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.

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Hence, I pass the following order :-

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ORDER

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(A) Original Application No. 174/2022 is allowed with costs.

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(B) The defendant shall pay to the applicant Bank the sum of Rs.29,47,967/- (Rupees Twenty Nine Lakhs Forty Seven Thousand Nine Hundred Sixty Seven only) towards Housing Loan Account along with

(OA No. 174/2022)

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future interest @8.75% per annum from the date of filing of the Original Application i.e. 04.01.2022 till full payment/realization of the amount mentioned in this operative order.

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(C) The defendant shall pay to the applicant Bank the sum of Rs.9,96,807/- (Rupees Nine Lakhs Ninety Six Thousand Eight Hundred Seven only) towards Top up Housing Loan Account along with future interest @7.60% per annum from the date of filing of the Original Application i.e. 04.01.2022 till full payment/realization of the amount mentioned in this operative order.

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(D) The aforesaid adjudicated amount is secured by the valid and subsisting mortgage of the immovable property i.e. Flat No. 102, Building A1, First Floor, TARA City, Gat No. 1607, 1609, 1611, 1702, Loni Kalbhor, Taluka Haveli, District Pune, more particularly described in Para No. 3-A of the Original Application.

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

(OA No. 174/2022)

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(F) Issue Recovery Certificate.

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

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Sd/(Dilip G Murumkar) Place : Pune Presiding Officer Date : 12.12.2023 Debts Recovery Tribunal, Pune.

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(OA No. 174/2022)

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State Bank of India v. Mrs Savita Vilas Chandgude

Case brief

What is this about?

What did the court decide?

State Bank of India v. Mrs Savita Vilas Chandgude

Case brief

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What did the court decide?

What the court decided

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