Allowed

Central Bank of India v. Sampat Askat

DRT26 Aug 2024OA/243/2022

Case brief

AI extract

What is this about?

The Debt Recovery Tribunal allowed the applicant bank's original application, directing the defendant to pay the outstanding housing loan amount of Rs. 28,18,687/- along with future interest and permitting recovery via sale of mortgaged property.

What did the court decide?

Defendant directed to pay Rs.28,18,687/- with future interest @9% p.a.; Recovery Certificate issued; power to sell mortgaged property granted.

Central Bank of India versus Sampat Askat — Contract and Commercial Disputes | DRT (2024)

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Presented on: 27.12.2017 Registered on: 23.12.2021 Decided on: 26.08.2024 Duration: Y M D 06 07 29

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IN THE DEBTS RECOVERY TRIBUNAL AT PUNE (Before Shri Dilip G. Murumkar, Presiding Officer)

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ORIGINAL APPLICATION No.243/2022.

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Central Bank of India, Having its Registered Office at Chander Mukhi, Nariman Point, Mumbai-400 021. And

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Branch office at - 1^st Floor, Indra Angan Society, Plot No.2, Sector 9, Khanda Colony, New Panvel, Navi Mumbai-410 206.

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… Applicant

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Versus

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Mr. Sampat Baburao Askat R/at, Flat No.701, 7^th Floor, Vignesh Height, Sr.No.61, Hissa No.21, Ambivali, Kalyan – 400 047. … Defendant

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APPEARANCES

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For the Applicant Mr. VSSP Sarma - Advocate. For the Defendant Ex parte.

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TOTAL CLAIM AMOUNT –Rs. 28,18,687/-

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JUDGMENT

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(Delivered on 26^th August, 2024)

(OA No.243/2022)

Page 1 of 5

[ANIL]

The Applicant Bank has filed present application for recovery of Rs.28,18,687/- towards housing loan together with future interest @09.60% per annum with monthly rests from the date of filing of this application till complete realization of the loan amount.

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Brief facts of the application are as under:-

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Defendant approached the Applicant Bank on 19.10.2013 and requested for sanction of Housing Loan for purchase of residential flat. The Applicant Bank sanctioned Housing Loan of Rs.20,00,000/- to the defendant on 11.11.2013 under the terms and conditions stipulated in Sanction.

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In order to secure the Housing Loan Facility of Rs.20,00,000/, the defendant has executed necessary loan transaction and security documents, in favour of the Applicant availed by Defendant.

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It is contended by the Applicant Bank that the Defendant has also executed Equitable Mortgage on 12.11.2013 of the residential Flat No.701, 7^th Floor, Vignesh Heights, Sr.No.61, Hissa No.21(P), village Mohane, Ambivali Kalyan, District Thane - 400 007, in favour of the Applicant Bank. Thereafter, the Applicant Bank disbursed the loan

(OA No.243/2022)

Page 2 of 5

[ANIL]

amount of Rs.20,00,000/- as per the request and demand made by the Defendant.

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Defendant after availing Housing Loan facility failed to repay the outstanding loan amount, as agreed and hence, the loan account has been classified as NPA on 29.05.2016 by the Applicant Bank.

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Thereafter, the Applicant Bank on 04.10.2017 issued Legal Notice through Advocate Mr.VSSP Sarma to the defendant demanding to repay the outstanding amount. The Notice returned unserved. Despite issuing the Legal Notice, the defendant failed and neglected to comply with the demand in the said legal Notice.

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Hence, this application is filed.

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Defendant failed to appear despite service of summons. Hence, the application proceeded ex parte against him vide Order dated 03.06.2024 passed below the Application (Exhibit-01).

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The Applicant Bank has filed Claim Affidavit (Exhibit-6) of Mr. Niranjan Sitaram Dali, Branch Manager and produced on record the Loan Transaction documents at Exhibits.AW1 to AW-9 which corroborates the case of the Applicant Bank.

(OA No.243/2022)

Page 3 of 5

[ANIL]

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

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Since Defendant failed to appear and contest the application, I find no reason to disbelieve the evidence of the Applicant Bank. Therefore, the Applicant Bank is entitled for reliefs as claimed.

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Applicant Bank has claimed future interest @09.60% p.a. Considering the facts of the present case; I am of the opinion that if future interest is granted @9% per annum (simple) for all the facilities, it would be just and reasonable.

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Hence, I pass the following order: -

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ORDER

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(A) Original Application No.243/2022 is allowed with costs.

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(B) Defendant shall pay to the Applicant Bank Rs.28,18,687/-(Rupees Twenty Eight Lakhs Eighteen Thousand Six Hundred Eighty Seven only) towards Housing Loan (A/c No.3299679146) with future interest @ 9% per annum from the date of filing of the Original Application i.e.27.12.2017 till payment/realization of the amount mentioned in this operative order.

(OA No.243/2022)

Page 4 of 5

[ANIL]

(C) The aforesaid adjudicated amount is secured by creating Mortgage regarding immovable property i.e. residential Flat No.701, 7^th Floor, Vignesh Heights, Sr.No.61, Hissa No.21(P), village Mohane, Ambivali Kalyan, District Thane - 400 007, more particularly described in Para No.5(e) of the Original Application.

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(D) The Applicant Bank is entitled to sell the mortgaged immovable 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 defendant.

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Sd/Place: Pune (Dilip G. Murumkar) Date: 26.08.2024 Presiding Officer, Debts Recovery Tribunal, Pune.

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(OA No.243/2022)

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Page 5 of 5

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[ANIL]

Central Bank of India v. Sampat Askat

Case brief

What is this about?

What did the court decide?

Central Bank of India v. Sampat Askat

Case brief

What is this about?

What did the court decide?

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