The Debts Recovery Tribunal allowed an application by Bank of Maharashtra Dimapur Branch for issuance of a Recovery Certificate against Ekeli Yeptho for outstanding loans and interest.
Issuance of Recovery Certificate for Rs. 24,03,700.00 with interest at 11.70% p.a. until realization, along with costs.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
I
oA 252l2023/DRT,cuwahan
IN THE DEBTS RECOVERY TRIBUNAL, GUWAHATI
(North Eastern Region)
(Tribunai _ of Assam Nagaland, ireghalaya l\ranipur, Mizoram Arunachat pradesh & Tripura)
Before Shri Shiv Sharan Dubev.presidino Ofticer
O.A. No.2i212023
ln the matter of -
BANK OF MAHARASHTRA Oimapur Branch, H.No. 1'140, Maddle Cotony, Purana Bazaar, Traffic Point, Oimapur797112.
1, EKELI YEPTHO D/o Axeto Yeptho H/No-43, Thilixu Village, Dimapur Nagaland, Pin-797112.
... .. . .Appticant
Vs.
Defendant
Presence of the Counsel :
For the Applicant N4s Sanghita Chakraborty, Advocate For the Defendant : None (Ex-parte)
Oated .02t09t2024
JUDGMENT
This is an application under section 19 of the Recovery of Debts Due to Banks and Financial lnstitutions Act, 1993 filed by the BANK OF MAHAMSHTM, Oimapur Branch, H.No. 1140, Middle Colony, Purana Bazaar, Trafficpoint, Dimapur797112, wilh a prayer to issue Recovery Certificate for the sum of Rs.24,03,700.00 (Rupees Twenty-Four Laca Threo Thousand Soven Hundred) only as on 24.01.2023 against the defendant with pendentelite and future interest @11.70 perannum as per with monthly rests till realization along with cost and other relief.
A few facts giving rise to the present application are as under.
The defendant for the purchase of vehicle approached the applicant bank for
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sanclion ofloan and accordinglythe banksanciioned 2 (two) numbers of loan amountas term loan.
On 2011212019lheDefendant approachedthe applicant bank for sanclion of loan amounting of Rs.'IO,OO,OOO/-by submittingapplbation The applk=nt bank on consideration ofthe said application sanctionedon 311'12f2O19 a term loan of Rs' 1O,OO,OOO/- onlyfor purchasing vehicle. Accordingly the defendant executedD P Note, & Deed of Hypothecationof Vehicle both dated 3112.2019 The said termloan was repayable on demand.Thereafter loan account no 60349847839was opened in favourof defendant to disbursethe loan amount of Rs 10 lakhs.
Secondly on1610112020the Defendant approachedthe applicant bank for sandion of loan amountingof Rs. IO,OO,OOOIby submitting applicationfor MSME The applicant bank onconsiderationof the said application sanclionedon 18/012020 a term loan of Rs.IO,OO,OOO/-at 10.70oloto delendant.Accordinglythe debndantexecuted D.P.Note & Oeedof Hypothecation Agreementboth dated'18.012020 Thesaij term loan was repayableon demand. Thereafter loan account no 6035'1079268was openedin tavour of defendantto disbursethe loan amountof Rs 10 lakhs
As the Defendanthas failed to repay the outstanding amount in lhe loan ac@unts, ther€afrer the ApplicantBank had demandedand requestedthe defsndant Butthe defendant failedto make any paymentthereof
The loan account ofthe defendantwasrunning extremelyinegular and as such became NPA dr 1uOSt2O21,i.e (1) Loan account- 60349847839, totaloubtanding amount Rs.1'1,66,684.92withinterest, (2) Loan accountnG60351079268,total outstanding amountRs.'12,37,016.35. The applicantbankhas applied interest on the outstanding amountas per RBI guidelinesfixed from timeto time After the accounb became NPA the samewas classifiedas recalled asseb
The interest accrued but notappliedfor-
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24rc1n)23 andpenal interestis Rs.34,835.22and the applicant bank claims fulure interest at this rateon the amount claimed by it from the defendants till realizaiion'
The applicantbank thus becameconstrainedto file the present Original Application for therecoveryof R8. 24,03,700.00(Rupo$Twonty'Four Lacs Threo Thousand SevenHundred)only as on 24.01.2023alongwithinterestandcostof the application.
After filing of the OAthe Tribunal issued notice uponthedefendantthrough registeredpost andthe applicanlbank filed service reporton 14 11 2023and brought onrecordthepostalreceiptalongwithtrackconsignmentreportwhichshowsthatthe noticehasnotbeenservedupontheSoledefendantbyname'ThereaftertheTribunal orderedpaper publication of notice uponthe sole defendant and the applicant bank issued notice to thedefendantthrough Paper Publicationin two newspapers namely"Nagaland Post" and "Morung ExprBss"both dal€d'1712 2023Evenafter issuing notice throughpaper publicationuponthe defendantthere has been no representation onbehalf of the sole defendanteither by thecounsel or the person and hence the defendantwasset ex-parte on 13 03.2024 and the matterwas posted for ex-parte hearingon behalfof the applicant bank.
Supporting the claimof the applicant bank Mr. Lamminlun S Gangte, Chief Manager of theApplicant Bank has filed evidenceon affldavitcoupled with the security documentsmarkedas ExhibitAW-1/1 to AW-'l/l0,supporting the claim of the applicant bank.
Heard the learnedcounsel for the applicant bank who prayed for issuance of Recovery Certificateagainstthe defendant as per pleadings madein the Application, supported by evidenceon affidavitof their witnesswho affirmed on oath the execution of the security and otherdocument by the defendantand also execution of lheir own documents relied upon,which have been marked exhibits.
Considering the facts and circumstancesof the case, I am of the considered view that the documentsflledby theapplicant bankare supporting theclaimof the applicant bank and establishing theliability of the defendant lt is proved that the defendant isliable topay to the applicant bank the claim madein the Original
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Application. The loanswereobtained and documentshave been executedon 31.12.2019 & 18.O1.2020.The accountsbecame NPA on 18.052021 and the OA has been filed on 12.07 .2023. Hence,the OAis filed well within the periodof limitation and this Tribunal havinga jurisdictionto adjudicatethe Original Application
Considering the unchallenged/unrebuttedversion of Mr. LamminlunS Gangte, the applicant's witnessand all the documents marked as exhibits,includingduly certified copy of thestatementof accountalong with interest calculationsheet maintained by the applicantEank in it's regular courseof business,I holdthat the applicant is entitled toget the Recovery Certificate as prayed for.
ln the result, thepresent OriginalApplication No. 252 ol 2023 is allowed with cost as under:-
applicant bank against the sole defendant.
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vli) Communicate copy of this order to the concemedparties.
This order is dictated and corrected by the undersigned.
Judgment dated 2d September 2024, signed and pronounced in the Tribunal
today under my signature.
Copy of the JudgmenuFinal Order be uploaded in the Tribunal's Website and
,ile be consigned to Record Room.
,*,mli?Presiding Officer DRT, Guwahati.
2 issues framed by the court
Whether the Original Application under section 19 of the RDBFI Act is maintainable within the limitation period.
Whether the documents filed by the applicant bank establish the liability of the defendant for recovery of dues.
1 provisions across 1 enactments
Bank of Maharashtra Dimapur Branch
Ekeli Yeptho
Shiv Sharan Dubey
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
