Allowed

State Bank of India v. Ajubai Agro Agencies

DRT18 Apr 2024OA/320/2022

Case brief

AI extract

What is this about?

This tribunal decided a debt recovery application filed by State Bank of India against three defendants. The defendants appeared absent after notice by publication. The court decreed the application and ordered payment of the outstanding loan amount with future interest, securing it against specific immovable property charges.

What did the court decide?

Decree for recovery of Rs. 60,09,877.80 plus interest at 6% p.a.; charge created on specific immovable property; recovery certificate issued.

State Bank of India versus Ajubai Agro Agencies — Arbitration | DRT (2024)

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Presented on: 15/06/2022 Registered on: 08/08/2022 Decided on: 18/04/2024 Duration: Y. M. D. 1 – 10 - 03

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IN THE DEBTS RECOVERY TRIBUNAL, at Aurangabad

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(Sr. No. 23) Original Application No. 320 of 2022

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Claim : Recovery of Rs. 60,09,877.80ps

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State Bank of India

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a body corporate constituted under the State Bank of India Act, 1955 having its local Head Office at Madam Cama Road, Nariman Point, Mumbai – 400 021 and one of its Branch Stressed Assets Recovery Branch, Aurangabad at Plot No.1, Ground floor, Administrative building, Town Centre, N-5 CIDCO, Aurangabad, through its authorized signatory Shri Ravindra Jaywantrao Dabhadkar, Deputy Manager and City Case Officer.

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… Applicant

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Versus

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1 M/s. Ajubai Agro Agencies, a Proprietary Firm through its Proprietor Shivram Govindrao Gund, age major occup. business R/o Anva Tal. Bhokardan Dist. Jalna 437114

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2 Mr Shivram Govindrao Gund, age major occup. business at Ajubai Petroleum Anva R/o Anva Tal. Bhokardan Dist. Jalna 437114

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�� Madkar) ��

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��

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3 Mr Shalikrao Kamlaji Kolhe, age major occup. business R/o at Dhondkheda post Anva Tal. Bhokardan Dist. Jalna 431114 …Defendants

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Appearance :

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For Applicant-bank : Mr. S.R. Deshpande, Adv. For Defendants : Absent

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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 Rs. 60,09,877.80ps (Rs. sixty lakhs nine thousand eight hundred

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seventy seven only) towards outstanding of loan amount availed

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by them, together with future contractual rate of interest.

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Defendants No. 1 to 3 though served with paper publication dated 09/03/2024 in daily ‘Loksatta’ and ‘Indian Express’, they preferred to remain absent in the matter and therefore, the Orig.

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�� Madkar) ��

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��

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Application proceeded ex parte against defendants.

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The applicant bank has filed the Claim Affidavit of Mr Ravindra Jaywantrao Dabhadkar (Exh. 4) alongwith list of documents (Exh.5) annexing therewith 16 documents 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. 320/2022 is decreed with costs.

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B. Defendants No.1 to 3 are ordered and directed to pay to the applicant-bank either jointly or severally the aggregate sum of Rs. 60,09,877.80ps (Rs. sixty lakhs nine thousand eight hundred seventy seven only) along with further rate of interest @ 6% 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 on the immovable property i.e.

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All that piece and parcel of VPP No. 799 admeasuring 33 X 66 sq.ft. alongwith RCC house

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�� Madkar) ��

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��

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constructed over it situated at village Anva Tal. Bhokardan Dist. Jalna , owned & possessed by Mr Shivram Gund, bounded by:

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To the East : house of Pandurang Gangaram; to the West : house of Bhagaji Sahane, to the South: Govt. road and to the North: house of Laxman Hiwale

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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

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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

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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) ��

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State Bank of India v. Ajubai Agro Agencies

Case brief

What is this about?

What did the court decide?

State Bank of India v. Ajubai Agro Agencies

Case brief

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What did the court decide?

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