The Debts Recovery Tribunal allowed the Applicant Bank's ex parte application for recovery of Rs.24,97,187/- with future interest from four defaulting borrowers and guarantors who failed to contest the proceedings.
Recovery of Rs.24,97,187/- with future interest @9% p.a.; Mortgage property declared as security; Issuance of Recovery Certificate.
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Presented on: 09.02.2022 Registered on: 29.03.2022 Decided on: 07.09.2023 Duration: Y M D 1 6 26
IN THE DEBTS RECOVERY TRIBUNAL AT PUNE (Before Shri Dilip G. Murumkar, Presiding Officer)
ORIGINAL APPLICATION No.300/2022
Bank of Maharashtra
A body corporate established under the Banking Companies (Acquisition and transfer of undertakings) Act, 1970, having its registered office at “Lokmangal”, 1501 Shivajinagar, Pune – 411 005 and one of its branch office at Bhigwan Chowk, Baramati, Taluka – Baramati, District – Pune, known as Baramati Branch
… Applicant
Versus
(OA No.300/2022)
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[SRD]
APPEARANCES
For the Applicant Mr. R B Ganbote – Advocate For Defendants None
TOTAL CLAIM AMOUNT –Rs.24,98,053/-
JUDGMENT
(Delivered on 7th September, 2023)
The defendant No. 1 along with defendant Nos. 2 to 4 approached the applicant Bank seeking financial assistance for
(OA No.300/2022)
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[SRD]
working capital. On 28th April, 2015 applicant Bank sanctioned and disbursed Cash Credit of Rs.20,00,000/- to the defendant No. 1. Defendant No. 2 to 4 stood as Guarantors to the said cash credit loan availed by defendant No.1.
Defendant No. 1 again approached the applicant Bank for reconstruction of the Cash Credit account. The applicant Bank favorably considered the request and reconstructed the Cash Credit account for sum of Rs.19,00,000/- on 13th July, 2019.
The defendants executed necessary loan transaction, security documents and Mortgage also created in favour of the applicant Bank as set out in paragraph Nos. 5.5 and 5.7 of the Original Application.
Even after issuance of Recall Notice, defendants failed repay and close the Cash Credit account. Therefore, the applicant Bank filed this Original Application for recovery of its dues.
Hence, this application is filed.
(OA No.300/2022)
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[SRD]
(OA No.300/2022)
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[SRD]
claim amount of Rs.24,97,187/- is reduced to Rs.24,97,187/-. Hence, I pass the following order: -
ORDER
(OA No.300/2022)
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[SRD]
District Pune, Sub Registration District Baramati, District, Pune, more particularly described in Paragraph No. 5.7 of the Original Application.
(D) The applicant Bank is entitled to sell the mortgaged property asset to recover its dues.
(F) The Registrar is directed to send the copy of Judgment and Recovery Certificate to the applicant Bank and defendants.
Sd/(Dilip G Murumkar) Place: Pune Presiding Officer Date: 07.09.2023 Debts Recovery Tribunal, Pune
(OA No.300/2022)
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[SRD]
1 issue framed by the court
Whether theapplicant is entitled to recovery of dues for default in repayment of cash credit loan.
Bank of Maharashtra
Shashikant Madhavrao Anpat
Vandana Shashikant Anpat
Prashant Haribhau Jagtap
Trishul Ashokrao Garud
Dilip G. Murumkar
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
