The Debt Recovery Tribunal allowed the applicant bank's ex-parte application for recovery of a housing loan deficiency against the defendant borrower, securing the amount via the executed mortgage on immovable property.
Defendant directed to pay Rs.24,92,345/- with future interest; Recovery Certificate issued; Decree secured by mortgage on Flat No.402.
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.
Presented on: 16.10.2021 Registered on: 26.04.2022 Decided on: 01.02.2024 Duration: Y M D 2 3 16
IN THE DEBTS RECOVERY TRIBUNAL AT PUNE (Before Shri Dilip G Murumkar, Presiding Officer) ORIGINAL APPLICATION No.346/2022
Union Bank of India, (Erstwhile Andhra Bank) A Govt. of India Undertaking constituted under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 having their Head Office at 239, Vidhan Bhavan Marg, Nariman Point, Mumbai-400 021 and having of their Branch at 598, Sachapir Street, Cantonment, Pune-411 001, Maharashtra.
… Applicant
Versus
Mrs. Arti Navin Agarwal, R/at : 42, Bunglow, Ashwini CHS, Bombay Pune Road, Wakdewadi, Pune411 005.
… Defendant
APPEARANCES
For the Applicant Mr. Prashant P Deshpande i/b M V Kini & Co. - Advocates For Defendant Ex parte
TOTAL CLAIM AMOUNT –Rs.25,00,417/-
(OA No.346/2022)
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JUDGMENT
(Delivered on 01st February, 2024)
The applicant Bank contended that defendant is the borrower and mortgagor for the Term Loan/Housing Loan who had approached the erstwhile Andhra Bank for availing Housing Loan on 23rd January, 2017.
On 06th February, 2017 the erstwhile Andhra Bank sanctioned and disbursed the Housing Loan of Rs.19,00,000/- with interest @8.75% p.a. to be repaid in 300 monthly installments of Rs.15,621/-.
The defendant signed and executed loan transaction and security documents as mentioned in paragraph Nos.5.7 to 5.9 of the Original Application including Equitable Mortgage in respect of immovable property more particularly mentioned in Schedule `B’ of the Original
(OA No.346/2022)
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Application.
The present applicant Bank further contended that after availing Housing Loan facility, defendant committed continuous default in repayment of the interest. Therefore, the applicant Bank classified the loan account of defendant as Non-Performing Asset on 31st August, 2018.
Thereafter, the applicant Bank through its Advocate issued Loan Recall Notice dated 02nd September, 2021 and called upon him to pay the outstanding in the loan account. Despite issuance of Loan Recall Notice, defendant failed and neglected to pay the outstanding amount payable by him.
Hence, this application is filed.
Hence, the application proceeded ex-parte against him vide order dated 09th January, 2024 passed below Application (Exhibit-1).
(OA No.346/2022)
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elucidated in the application.
(OA No.346/2022)
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ORDER
(OA No.346/2022)
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Sd/- (Dilip G Murumkar) Presiding Officer Debts Recovery Tribunal, Pune
Place : Pune Date : 01.02.2024
(OA No.346/2022)
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Union Bank of India
Mrs. Arti Navin Agarwal
Dilip G Murumkar
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
