Allowed

Bank of Maharashtra v. Krishna Babanrao Pere

DRT12 Jun 2024MA/40/2024

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed a miscellaneous application filed by the Bank of Maharashtra to issue a recovery certificate for Rs. 5.76 crores. The bank sought recovery of dues including interest and enforcement of mortgage charges on specified properties, following a prior settlement agreement.

What did the court decide?

Issuance of a recovery certificate for Rs. 5,76,52,902 with future interest of 13.5% per annum from 01-02-2015, secured by mortgage on specified properties.

Bank of Maharashtra versus Krishna Babanrao Pere — Banking and Recovery | DRT (2024)

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IN THE DEBTS RECOVERY TRIBUNAL,AURANGABAD (BEFORE HON’BLE PRESIDING OFFICER, DRT AT AURANGABAD)

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ORDER SHEET

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1 S	2.06.20 r. No.1	24 9 MA No.40/2024
Classifi cation	No. of Exh.
		MISCELLANEOUS APPLICATION No.40/2024
		Bank of Maharashtra ..Applicant Versus Krishna Babanrao Pere & another ..Respondents Mr. V.R. Patil - Advocate for the applicant None for the Respondents. The matter is taken through Hybrid. 1. This is a Miscellaneous Application No.40/2024 filed by the applicant-bank to allow this MA and the Recovery Certificate for Rs.5,76,52,902/- (Rupees Five Crores Seventy-Six Lacs Fifty-Two Thousand Nine Hundred and
		Two only) due and payable by the respondents and defendants the Original Application No.82/2015 together with future interest at the @ 13.5% per annum with monthly rests from 01-02-2015 till the realization of the entire dues from the person and properties of the defendants, as well as recovery of the said amount by the attachment and sale of the mortgage properties. 2. In this matter the applicant bank submits that they had filed the Original Application No.82/2015 against the defendants for recovery of Rs.5,76,52,902/- (Rupees Five Crores Seventy-Six Lacs Fifty-Two Thousand Nine Hundred and

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[SBJ]

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(MA No. 40/2024) Page 1 of 4

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IN THE DEBTS RECOVERY TRIBUNAL,AURANGABAD

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(BEFORE HON’BLE PRESIDING OFFICER, DRT AT AURANGABAD)

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ORDER SHEET

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Two only). Thereafter during the pendency of the Original Application the defendants agreed to settle the dues for Rs.5.50 Crores (Rupees Five Crores Fifty Lacs only) failing which the applicant bank shall be entitled to recover the entire amount as per its claim in the OA and in view of the same the said O.A. No.82/2025 was disposed off on 14^th December, 2015.

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Thereafter the borrower paid certain amount and later on given a cheque dated 11^th December, 2014 for Rs.17 Lacs (Rupees Seventeen Lacs) which was bounced and therefore the applicant bank has filed SCC No.1227 of 2016 before the JMFC Aurangabad and the same is pending.

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In the meanwhile, applicant bank has filed Interlocutory Application No.224 of 2019 for issuance of recovery certificate. Actually the MA should have been filed instead of the Interlocutory Application.

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On 01^st February, 2024 the defendants wrote a letter to the applicant bank and informed that Mr. Baban Pere the main borrower, father of defendant no.1 and husband of the defendant no.2 dies on 14-11-2023 and they need some more time to settle the dues. Till date no upfront amount of 10% is deposited by the defendants.

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The defendants are the legal heirs of the main borrower deceased Mr. Baban Pere.

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In this matter the counsel for the applicant bank requests for issuance of RC as per the order passed dated 14^th December, 2015 by the then Presiding Officer on Exhibit-1 as the

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[SBJ]

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(MA No. 40/2024) Page 2 of 4

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IN THE DEBTS RECOVERY TRIBUNAL,AURANGABAD

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(BEFORE HON’BLE PRESIDING OFFICER, DRT AT AURANGABAD)

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ORDER SHEET

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defendants / respondents have consented for the same and the same bears the signature of the defendant nos. 1 to 3 and the counsel for the applicant bank.
8. I have heard the learned counsel appearing for the applicant bank.
9. For the sake of convenience the operative order passed on
14^thDecember, 2015 by my learned Predecessor is
reproduced as it is, as below.
“ORDER (1) This OA No.82/2015 filed by the applicant
bank shall be satisfied on receipt of Rs.550 Lacs from the
defendants as per above repayment schedule by or before
30-04-2016 and as such, I allow the claim of the applicant
bank made in this OA No.82/2015 against the defendants in
terms of the above settlement. Consequently, this OA
No.82/2015 stands disposed of accordingly. (2) However, in
case the defendants default in repayment of the settlement amount to the applicant bank, the applicant bank shall be
entitled to recover the entire amount after deduction of
amount paid, if any, under the compromise, as claimed in OA
No.82/2015. (3) No order as to costs. (4) Consign the File of
this O.A. to the Record Section of this DRT.”
10. In view of the above, I pass the following order: ORDER
A. Miscellaneous Application No. 40/2024 is allowed.
B. Accordingly issue recovery certificate for the amount of Rs.5,76,52,902/- (Rupees Five Crores Seventy-Six Lacs
Fifty-Two Thousand Nine Hundred and Two only) as

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[SBJ]

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(MA No. 40/2024) Page 3 of 4

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IN THE DEBTS RECOVERY TRIBUNAL,AURANGABAD

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(BEFORE HON’BLE PRESIDING OFFICER, DRT AT AURANGABAD)

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ORDER SHEET

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claimed in the Original Application No.82/2015 from the defendants jointly and severally alongwith rate of interest @13.5% from 01-02-2015 till the realisation of the entire amount.
C. The aforesaid adjudicated amount is secured by the charge on the mortgaged properties by the defendant no.1,which is as under: All that piece and parcel of agricultural land Gut No.134 to the extent of 1 H 75 situated at Waladgaon, Aurangabad together with the buildings, godown and structures constructed or that would be constructed hereafter alongwith the appurtenances to it, bounded as under: Towards East : Kham River. Towards West : Land Gut No.135 and 136. Towards North : Land of Yasin. Towards South : Land Gut No.133.
As is disclosed in the Para No.7 of the OA.
D. The Recovery Officer shall look into the adjustment of the amount recovered by the applicant bank during the proceeding pending before this Tribunal and draw the amount balance recoverable.
E. Consign the file to the Record Room.
(Vimal Gupta) Presiding Officer Debts Recovery Tribunal, Aurangabad

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[SBJ] (MA No. 40/2024) Page 4 of 4

Bank of Maharashtra v. Krishna Babanrao Pere

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Bank of Maharashtra v. Krishna Babanrao Pere

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