Allowed

Punjab National Bank v. Anil Atmaram Haware

DRT24 Jan 2024OA/364/2022

Case brief

AI extract

What is this about?

The Debt Recovery Tribunal allowed an application filed by Punjab National Bank against two respondents for recovery of dues arising out of housing loans and overdraft facilities. The tribunal adjusted claimed amounts by disallowing penal interest and other charges, granting only simple interest at specified rates until realization.

What did the court decide?

Directing respondents to pay adjusted amounts of Rs.7,23,882, Rs.21,38,316, and Rs.3,29,450 along with future interest and issuance of a Recovery Certificate.

Punjab National Bank versus Anil Atmaram Haware — Contract and Commercial Disputes | DRT (2024)

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Presented on : 31.01.2022 Registered on : 24.03.2022 Decided on : 24.01.2024 Duration : Y M D 01 11 24

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IN THE DEBTS RECOVERY TRIBUNAL AT PUNE (Before Shri Dilip G Murumkar, Presiding Officer) ORIGINAL APPLICATION No. 364/2022

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Punjab National Bank,

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Nana Peth Branch, Pune from where Credit facility was disbursed, was merged with Punjab National Bank having its head office at Plot No. 4, Sector 10, Dwarka, New Delhi 110075. Thereafter the file transferred to Circle Sastra Centre, at Aurora Towers, 9 Moledina Road, Camp, Pune 411001.

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.. Applicant

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Versus

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1 Mr. Anil Atmaram Haware,

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2 Mrs. Ashwini Anil Haware, Both R/o : Flat No. 08, Building – 16, Shradha Garden, Chinchwad, Pune 411033. Also At :- Flat No. 205, A Wing, Dorabjee Paradise, Near Dorabjee Mall, NIBM, Undri, Pune 411060.

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.. Defendants

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APPEARANCES

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For Applicant	Advocate Madhu Abrol.
For Defendants	Exparte.

(OA No. 364/2022)

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TOTAL CLAIM AMOUNT – Rs.39,43,396/-

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JUDGMENT (Delivered on 24^th January, 2024)

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The Applicant Bank has filed the present application for recovery of the sum of Rs.39,43,396/- together with future interest @8.50% and 9% per annum with monthly rests from the date of Application till realization of the entire dues from the defendants.

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Brief facts of the application are as under :

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Defendant Nos.1 and 2 have availed two Housing Loans and one Overdraft facility from the applicant Bank. As per the loan application of defendants, the applicant Bank sanctioned and disbursed the Housing Loan facility of Rs.28,24,000/- to the defendants vide Sanction Letter dated 27.10.2015. In order to secure the aforesaid Housing Loan, the defendants executed necessary loan and security documents in favour of the applicant Bank along with deed of mortgage of Flat No. 1006, Building A, Manistique City, Gat No. 564-559, Near Lexicon School, Wagholi, Pune in favour of the applicant Bank.

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Thereafter, the defendants again approached the applicant Bank for takeover of the housing loan of

(OA No. 364/2022)

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Rs.49,81,000/- consisting of two facilities i.e. loan from ICICI Bank for amount of Rs.29,81,000/- and additional over draft facility for personal use of Rs.20,00,000/- and accordingly, the applicant Bank sanctioned the same vide Sanction Letter dated 27.10.2015. In order to secure the aforesaid Loans, the defendants executed necessary loan and security documents in favour of the applicant Bank along with deed of mortgage of Flat No. 26, 4^th Floor, Building A, Keystone Hills, Sr.No. 18/12, Behind Bishop School, Undri, Taluka Haveli, District Pune in favour of the applicant Bank.

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Thereafter, the defendants executed Balance Confirmation on 28.06.2019 and admitted their liability and confirmed the balances.

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The applicant Bank contended that the defendants committed defaults in payment of installments and failed to regularize the accounts. Therefore, on 11.11.2021, the applicant Bank issued legal Notice to the defendants. Despite service of Notice, the defendants failed and neglected to pay the outstanding dues of the applicant Bank.

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The mortgaged property already sold by the applicant Bank under SARFAESI Act. Hence, this application is filed.

(OA No. 364/2022)

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The defendants failed to appear despite service of summons. Hence, the application proceeded ex-parte as per Order dated 04.01.2024 passed below Application (Exhibit-1).

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The applicant Bank has filed Claim Affidavit of evidence (Exhibit-6) of Shrikant Kohad, Senior Manager of the applicant Bank, and has produced on record the original loan transaction documents at Sr. Nos. AW-1 to AW-24 along with list (Exhibit 7), which corroborates the case of the applicant Bank.

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

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

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The applicant Bank has claimed Penal Interest of Rs.1,41,450/+ Other charges of Rs.33/- (total of Rs.1,41,483/-) for Credit Facility-I Account No. 5225009900000343, which cannot be granted and the same is required to be deducted from the claim amount of Rs.8,65,365/- which comes to Rs.7,23,882 /-.

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The applicant Bank has also claimed Penal Interest of Rs.2,49,134/- + Other charges of Rs.92,678/- (total of

(OA No. 364/2022)

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Rs.3,41,812/-) for Credit Facility-II Account No. 522500NC00007547, which cannot be granted and the same is required to be deducted from the claim amount of Rs.24,80,128/- which comes to Rs. 21,38,316 /-.

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The applicant Bank has also claimed Penal Interest of Rs.2,16,745/- + Other charges of Rs.51,708/- (total of Rs.2,68,453/-) for Credit Facility-III Account No. 522500NC00007556, which cannot be granted and the same is required to be deducted from the claim amount of Rs.5,97,903/which comes to Rs. 3,29,450 /-.

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Hence, I pass the following order :-

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ORDER

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(A) Original Application No.364/2022 is allowed with costs.

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(B) Defendant Nos.1 and 2 either jointly or severally shall pay to the applicant Bank the sum of Rs.7,23,882/(Rupees Seven Lakhs Twenty Three Thousand Eight Hundred Eighty Two only) towards Credit Facility-I Account No. 5225009900000343 along with future interest @9% per annum from the date of filing of the Original Application i.e. 31.01.2022 till full

(OA No. 364/2022)

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payment/realization of the amount mentioned in this operative order.

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(C) Defendant Nos.1 and 2 either jointly or severally shall pay to the applicant Bank the sum of Rs.21,38,316/(Rupees Twenty One Lakhs Thirty Eight Thousand Three Hundred Sixteen only) towards Credit FacilityII Account No. 522500NC00007547 along with future interest @8.50% per annum from the date of filing of the Original Application i.e. 31.01.2022 till full payment/realization of the amount mentioned in this operative order.

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(D) Defendant Nos.1 and 2 either jointly or severally shall pay to the applicant Bank the sum of Rs.3,29,450/(Rupees Three Lakhs Twenty Nine Thousand Four Hundred Fifty only) towards Credit Facility-III Account No. 522500NC00007556 along with future interest @8.50% per annum from the date of filing of the Original Application i.e. 31.01.2022 till full payment/realization of the amount mentioned in this operative order.

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(E) Issue Recovery Certificate.

(OA No. 364/2022)

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(F) The Registrar is directed to send the copy of Judgment and Recovery Certificate to the applicant and defendants.

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Place : Pune Date : 24.01.2024

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Sd/(Dilip G Murumkar) Presiding Officer Debts Recovery Tribunal, Pune.

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(OA No. 364/2022)

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Sanap

Punjab National Bank v. Anil Atmaram Haware

Case brief

What is this about?

What did the court decide?

Punjab National Bank v. Anil Atmaram Haware

Case brief

What is this about?

What did the court decide?

What the court decided

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