Allowed

Punjab National Bank v. Yogesh Siddhappa Hattale

DRT16 Jan 2024OA/172/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the applicant bank's original application for recovery of outstanding housing loan dues of Rs.25,15,309/- with future interest. The matter was decided ex parte as the defendants failed to appear. The order secures recovery via a mortgage on the respondents' flat and authorizes the sale of the property.

What did the court decide?

Awarded recovery of Rs.25,15,309/- with future interest at 8.65% p.a.; mortgaged property to be sold for recovery; recovery certificate issued.

Punjab National Bank versus Yogesh Siddhappa Hattale — Banking and Recovery | DRT (2024)

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Presented on: 04.01.2022 Registered on: 16.03.2022 Decided on: 16.01.2024 Duration: Y M D 2 0 12

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IN THE DEBTS RECOVERY TRIBUNAL AT PUNE (Before Shri Dilip G Murumkar, Presiding Officer) ORIGINAL APPLICATION No.172/2022

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Punjab National Bank

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(Erstwhile-United Bank of India), Erstwhile United Bank of India merged with Punjab National Bank through Notification dated 04.03.2020.

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A body corporate constituted under the Banking Companies (Acquisition and Transfer of Undertaking) Act, 1970 having its Registered Office at Plot No.4, Sector-10, Dwarka, New Delhi-110 075 and a Branch Office amongst other places at : Siddeshwar Peth Branch, Solapur.

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[Thereafter, matter transferred to Punjab National Bank, Sastra Division-Circle Office, Kolhapur, 1182/17, Ground Floor, Rajarampuri, 4^th Lane, Taluka Kolhapur, Maharashtra -416 008.

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… Applicant

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Versus

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Mr. Yogesh Siddhappa Hattale, Flat No.402, Laxmi Heights, Jagdamba Nagar, Jule Solapur, Dist. Solapur-413 003.

(OA No.172/2022)

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Mrs. Monali Yoginath Hattale, Flat No.402, Laxmi Heights, Jagdamba Nagar, Jule Solapur, Dist. Solapur-413 003. … Defendants

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APPEARANCES

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For the Applicant For Defendants

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Mrs. Sudha Koloti - Advocate Ex parte

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TOTAL CLAIM AMOUNT –Rs.25,15,309/-

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JUDGMENT

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(Delivered on 16^th January, 2024)

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The Applicant Bank has filed the present Application for

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recovery of sum Rs.25,15,309/- in respect of Housing Loan account together with future interest @8.65% p.a. with monthly rests thereon from 01^st January, 2022 till full repayment/realization of entire dues from the defendants.

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Brief facts of the application are as under:

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Defendant Nos.1 and 2 wanted to purchase ready flat and accordingly, they approached the Erstwhile applicant Bank i.e. United Bank of India, Solapur Branch on 05^th December, 2018 for Housing Loan of Rs.23,00,000/- under „United Housing Loan Scheme‟.

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On 10^th December, 2018 the applicant Bank sanctioned and disbursed the Housing Loan of Rs.23,00,000/- with

(OA No.172/2022)

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interest @8.65% to be repaid in 300 EMI of Rs.18,754/-. Defendant Nos.1 and 2 executed loan transaction and

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security documents as set out in paragraph No.5.7 of the Original Application including creation of Equitable Mortgage by deposit of title deeds dated 13.12.2018 in respect of immovable property i.e. Flat No.401 more particularly mentioned in paragraph Nos.5.6 (e) & 5.8 of the Original Application. The Mortgage Deed is registered in the Office of Sub Registrar, Solapur North-2 at Sr.No.2929/2018.

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It is contended by the applicant Bank that after availing the Housing Loan facility, the account of defendants was initially regular. However, defendants failed to make any payment except last payment of Rs.40,000/- on 31^st March, 2021. Therefore, the applicant Bank called up the defendants and also sent them number of reminders. In spite of reminders, defendants neither made any efforts to approach the applicant Bank nor regularized their loan account. Therefore, the loan account of defendants was declared as Non-Performing Asset on 01^st May, 2021 as per RBI Guidelines.

(OA No.172/2022)

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The applicant Bank further contended that since defendants failed and neglected to comply with terms and conditions of Sanction and also failed to regularize the loan account, the applicant Bank through its Advocate issued Recall Notice dated 03^rd December, 2021 to defendant Nos.1 and 2. Despite issuance of Recall Notice, defendants failed to repay the entire outstanding under the Housing Loan account.

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Hence, this application is filed.

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Defendants failed to appear despite service of Summons. Hence, the application proceeded ex parte against them vide Order dated 21^st December, 2023 below the Application (Exhibit-1).

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The applicant Bank has filed Claim Affidavit of evidence (Exhibit-6) of Mr. E. Rajesh Radhakrishnan, Senior Manager, Punjab National Bank, Sastra Division-Circle Office, Kolhapur which supports the case of the applicant Bank elucidated in the application.

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The applicant Bank has produced documents in evidence (AW-1-1 to AW-1-17) which corroborates the case of the

(OA No.172/2022)

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applicant Bank.

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

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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.

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Hence, I pass the following order:-

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ORDER

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(A) Original Application No.172/2022 is allowed with costs.

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(B) Defendant Nos.1 and 2 shall either jointly or severally pay to the applicant Bank the sum of Rs.25,15,309/- (Rupees Twenty-Five Lakhs Fifteen Thousand Three Hundred and Nine only) with future interest @8.65% p.a. from the date of filing of the Original Application i.e. 04^th January, 2022 till full payment/realization of the amount mentioned in this operative order.

(OA No.172/2022)

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valid and subsisting mortgage of the immovable property i.e. Flat No.401 on 4^th Floor, admeasuring carpet area of 50.54 sq. mtr. and built up area 57.27 sq. mtrs. in the project known as “Laxmi Heights” situated at Old Survey No.299/1 and New Survey No.159/1 more particularly Plot No.16 (part) situated at Jagdamba Nagar, Jule Solapur situated within the limits of Majarewadi, Tal. North Solapur, Dist. Solapur now within the extended area of Solapur Municipal Corporation, Solapur, more particularly mentioned in paragraph No.5.8 of the Original Application.

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

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(E) Issue Recovery Certificate.

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

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Sd/-

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Place : Pune Date : 16.01.2024

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

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(OA No.172/2022)

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Punjab National Bank v. Yogesh Siddhappa Hattale

Case brief

What is this about?

What did the court decide?

Punjab National Bank v. Yogesh Siddhappa Hattale

Case brief

What is this about?

What did the court decide?

What the court decided

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