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Bank of Maharashtra v. Manas Arun Borale

DRT18 Apr 2024OA/20/2024

Case brief

AI extract

What is this about?

The Tribunal decreed an ex parte recovery application filed by Bank of Maharashtra against three individuals who remained absent. The court ordered payment of the outstanding sum with future interest and proceeded to attach personal properties and issue a recovery certificate.

What did the court decide?

Defendants were ordered to pay Rs. 36,44,226/- along with future interest of 8% p.a., attach personal properties, and issue a recovery certificate.

Bank of Maharashtra versus Manas Arun Borale — Contract and Commercial Disputes | DRT (2024)

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Presented on: 29/08/2022 Registered on: 01/01/2023 Decided on: 18/04/2024 Duration: Y. M. D. 1 – 07 - 20

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IN THE DEBTS RECOVERY TRIBUNAL, at Aurangabad

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(Sr. No. 28) Original Application No. 20 of 2024

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Claim : Recovery of Rs. 36,44,226/-

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Bank of Maharashtra , a body corporate constituted under the Banking Companies (Acquisition and Transfer of Undertakings) Act 5 of 1970, carrying on banking business and having its Head Office at “Lokmangal”, 1501, Shivaji Nagar, Pune – 411 005 and Zonal Office at “Mahabank Bhawan”, C-3, N-1, Town Centre, CIDCO, Aurangabad – 431003 through its Authorized Officer Shri Hariom s/o Shitlakant Trivedi, age major occup. service, working as Chief Manager, Asset Recovery branch, bank of Maharashtra, at Town Center, CIDCO, Aurangabad

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… Applicant

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Versus

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1 Mr Manas Arun Borole, plot No. M-138, Sumadhu Engg. Industries, Audyogik Vasahat, MIDC, Jalgaon, Tal. & Dist. Jalgaon.

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2 Mr Nitin Vasant Ingale, 15-Kundan, Vidyut Nagari, near Mahabal, Jalgaon Tal. & Dist. Jalgaon

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( Madkar) (O.A. No. 20/202)

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Page 1 of 4

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3 Hemlata Kiran Khadake, 124, Vitthal Peth, Jalgaon Tal. & Dist. Jalgaon

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…Defendants

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Appearance :

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For Applicant-bank : For Defendants Absent

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Mr. S.W. Munde, Adv.

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Shri Vimal Gupta Presiding Officer

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Pronounced on: 18^th April 2024

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O R D E R

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The applicant-bank has filed the present Original Application against defendants No.1 to 3 for recovery of sum of

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Rs. 36,44,226/- (Rs. thirty six lakhs forty four thousand two

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hundred twenty six only) towards outstanding of loan amount

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availed by them, together with future contractual rate of interest.

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Though defendants No. 1 to 3 duly served with summons of the Orig. Application, by hand, vide Court Commissioner report

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Exh. 10, they preferred to remain absent in the matter and

(O.A. No. 20/202)

( Madkar)

Page 2 of 4

therefore, the matter proceeded ex parte against them.

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In these circumstances, it appears that the defendants are not interested in filing the written statement or they have nothing to show cause and, as such, their right to file written statement stands closed.

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The applicant bank has filed the Claim Affidavit of Mr Hariom Trivedi, Chief Manager (Exh. 4) alongwith list of documents dated 09/08/2023 (Exh.5) and proved its claim. The claim of the applicant bank goes uncontroverted and unrebutted.

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In view of the above, I pass the following order.

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O R D E R

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A. Original Application No.20/2024 is decreed with costs.

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B. The defendants are ordered and directed to pay to the applicant-bank either jointly or severally the aggregate sum of Rs. Rs. 36,44,226/- (Rs. thirty six lakhs forty four thousand two hundred twenty six only) along with further rate of interest @ 8% p.a., Simple, from the date of filing of the Original Application till actual payment /realisation.

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C. The aforesaid adjudicated amount is secured by the charge

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( Madkar) (O.A. No. 20/202)

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Page 3 of 4

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on the immovable property i.e. a ll that piece and parcel of property bearing land Gat No. 53/1 area 1H.31R situated at village Umale Tal. & Dist. Jalgaon

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D. The Recovery Officer to proceed with the personal properties of the defendants by attaching the same.

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E. Any amount recovered during pendency of Original Application shall be reduced and demand notice shall be issued accordingly.

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F. Issue Recovery Certificate accordingly against the defendants.

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G. The Registry to send copy of judgment and Recovery Certificate to the applicant and defendants.

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H. Consign the file to the Record Room and orders be uploaded on official web-site.

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( Vimal Gupta ) PRESIDING OFFICER, Aurangabad, DEBTS RECOVERY TRIBUNAL, Date: 18/04/2024 Aurangabad

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( Madkar) (O.A. No. 20/202)

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Page 4 of 4

Bank of Maharashtra v. Manas Arun Borale

Case brief

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Bank of Maharashtra v. Manas Arun Borale

Case brief

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