Allowed

Union Bank of India v. Ganga Devi Khubbani

DRT17 Oct 2024OA/113/2023

Case brief

AI extract

What is this about?

In this ORT matter, the Presiding Officer allowed the bank's Original Application under Section 19 of the RDB Act for recovery of a housing loan. The court directed payment of principal, interest, and costs, issuance of a Recovery Certificate, and creation of an injunction over mortgaged and personal assets.

What did the court decide?

Payment of principal, interest at 12% p.a., costs; issuance of Recovery Certificate; injunction restraining transfer of property.

Union Bank of India versus Ganga Devi Khubbani — Landlord and Tenant | DRT (2024)

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DEBTS RECOVERY TRIBUNAL : JABALPUR

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(for the States of Madhya Pradesh and Chhattisgarh)

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(Presiding Officer - Hon'bte Shri Ram Niwas Patet)

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Originol Application No. - 113123

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Union Bank of lndia, Transport Nagar, Rewa (M.P.)

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Applicant

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Versus

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Ganga Devi Khubbani,

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01 ) W/o Pavan Kumar Khubbani

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020 Pavan Kumar Khubbani, S/o Govind Ram Khubbani

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1. Govind Ram Khubbani, S/o Chandi Ram Khubbani

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(Att R/o Ward No.-31, nagariya School, Near GOP Bhavan, Tarahati, Huzur, District-Rewa, M.P. 486001 )

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Defendants

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Counset for the Appticant : Shri Rajendra Singh Parmar , Advocate Defendants : Ex-parte

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JUDGMENT (Dated: 1 October, 2024)

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The Appticant-Bank has fited the present Original Apptication u/s 19 of Recovery of Debts and Bankruptcy Act on 27/01 /23 against the Defendants for recovery of Rs. 20,60,404.74 (Rupees Twenty Lac, Sixty Thousand, Four Hundred Four and Paisa Seventy Four onty) along with interest and other retiefs as stated.

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The brief facts of the case are that on the request of Defendant No.-1 &. 2, the Appticant Bank sanctioned housing Loan (Term Loan) of Rs. 19.60 Lac on 02111117 and in consideration of the same the Defendant No.-l & 2 as borrowers and Defendant No.-3 as guarantor in addition to execution of loan and guarantee documents have atso created equitabte mortgage over the immovabte property, i.e., Land and Buitding situated at Part of NazuI Ptot No.-3050 &. Ptot No.-3052/4, admeasuring tota[ area 645 sq.ft. (part) at Ward No.-29, Rewa 553, Pandey To[a, Patwari Hatka-Rewa, RIC-Rewa, Tehsit-Huzur, District-Rewa (M.P.); betonging to Defendant No.-1 & 2. The Defendant No.-1 & 2 avaited the term loan but faited to compty with the financial disciptine. The account was classified as

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oA 113/23

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NPA and the Defendants^faited to^{tiquidate the outstanding dues despite} issuance of Recatt Notice^{dated01104/22 and initiation of actionunder the} Securitisation Act by the Appticant^{Bank. The Appticant'Bankhas retied upon} the documents at Ex.^A-1 to^{A'16 which wereprovedby Shri Pawan} Mehrunkar, Chief Manager.

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Despite service of notice, the Defendants^{neitherappeared nor} fited written statement. They were^{proceededex-partevide order dated} 09l05l23. There is therefore, no reason to disbetieve the^{contentionsof the} Bank. Considering the facts of the case, I opine that the Defendants are jointty and severalty tiabte to pay the claim amount together with interest and costs. The Appticant-Bank in its application has ctaimed interest @12% p.a. with monthty rests. However, I feet it fair and reasonable to grant interest @12% p.a. simple pendente[ite and future titl realization of the dues. The mortgaged property is liable to be sold for recovery of amount due along with the personal properties and assets of the Defendants.

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The Original Apptication is altowed and it is ordered as under-

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i) The Defendants do pay^jointty and severatty Rs.20,60,404.74 (Rupees Twenty Lac, Sixty Thousand, Four Hundred Four and Paisa Seventy Four only) together with pendentelite and future interest @12% per annum simpte from the date of fiting of the OA, i.e.,27/01i23, with costs titl its reatization.

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ii) The AppLicant Bank is entitted to se[[ the mortgaged as wetl as personal properties and assets of the Defendants for realization of its dues. The Defendants are hereby restrained by means of injunction from depteting, transferring, encumbering, atienating or in any way dealing with their properties/assets without first paying the ctaim of the Applicant Bank.

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iii) A Recovery Certificate be issued uls 19(22) of Recovery of Debts and Bankruptcy Act. The appticant bank may file a memo of cost within 7 days for preparing Recovery Certificate.

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Judgment pronounced in the open court on this 17th Day of October, 2024.

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<br>m Niwa,.l.: t)
Presidine Officer

Union Bank of India v. Ganga Devi Khubbani

Case brief

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Union Bank of India v. Ganga Devi Khubbani

Case brief

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