The Tribunal allowed the applicant bank's recovery application for a sum of Rs.2,70,80,00/- against two respondents who defaulted on housing loans. Defendants filed no written statement.
Standard directed; pay Rs.2,56,01,443/- plus interest @8.55%; pay Rs.14,78,557/- plus interest @7.70%. Mortgage remains valid. Recovery Certificate issued.
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 : 08.03.2022 Registered on : 19.04.2022 Decided on : 05.09.2024 Duration : Y M D 02 05 27
IN THE DEBTS RECOVERY TRIBUNAL AT PUNE (Before Shri Dilip G Murumkar, Presiding Officer) ORIGINAL APPLICATION No. 377/2022.
State Bank of India,
A Banking Company constituted under the State Bank of India Act, 1955 and having its Corporate Office at State Bank Bhavan, Nariman Point, Madam Cama Road, Mumbai 400021 and its branch at – Senapati Bapat Road, Pune. Thereafter account migrated to State Bank of India, Stressed Assets Recovery Branch, Second Floor, Vardhaman, Seven Loves Chowk, Plot No. 321/A/3, Mahatma Phule Peth, Pune 411042.
.. Applicant
Versus
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Mr. Umang Bharatbhushan Madan, 139, Nithya Bungalow, National CHS, Baner Phata, Aundh, Pune 411 007. 2 Mrs. Mansi Umang Madan, Flat No. 701, 7th Floor, Nishigandh Coop. Hsg. Soc. Ltd., CTS No. 752, Near Panchavati Society, Pashan, Taluka Haveli, District Pune 411 008. Also at – Mr. Mansi Umang Madan, 139, Nithya Bungalow, National CHS, Baner Phata, Aundh, Pune 411 007. Also at – Mr. Mansi Umang Madan, 301, Sadguru Paman, 15th Road, Bandra .. Defendants West, Mumbai 400 050.
APPEARANCES
For Applicant Advocate Sudha Koloti. For Defendants Without written statement.
TOTAL CLAIM AMOUNT –Rs.2,70,80,000/-
JUDGMENT
(Delivered on 05th September, 2024)
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date of Application till realization of the entire dues from the defendants.
As per the loan application dated 30.12.2016 of defendant Nos.1 and 2, the applicant Bank sanctioned the following loan facilities to defendant Nos.1 and 2.
| Name of the facility | Amount | Date of sanction |
|---|---|---|
| Housing Loan | 2,34,37,000 | 24.01.2017 |
| Top Up Loan | 15,00,000 | 24.01.2017 |
In order to secure the aforesaid loan facilities, the defendants executed necessary loan and security documents along with deed of mortgage of Apartment No. 601, admeasuring 167.60 Sq. Meters, 6th Floor, Nishigandh, together with terrace admeasuring 28.52 sq. mtrs. and allotted two car parking space No. 601, constructed on S.No. 36, Hissa No. 1/1B/1/1, CTS No. 752, Pashan, Taluka Haveli, District Pune, in favour of the applicant Bank. The defendants made last payment in loan account respectively on 24.06.2021 and 27.08.2021.
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defaults in payment of installments and failed to regularize the accounts. Hence, on 01.12.2020, the applicant Bank has classified the account of the defendants as Non Performing Asset in accordance with guidelines of Reserve Bank of India. Therefore, on 07.01.2022, 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.
Hence, this application is filed.
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Hence, I pass the following order :-
ORDER
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Original Application i.e. 08.03.2022 till full payment/realization of the amount mentioned in this operative order.
(C) Defendant Nos. 1 and 2 either jointly or severally shall pay to the applicant Bank the sum of Rs.14,78,557/- (Rupees Fourteen Lakhs Seventy Eight Thousand Five Hundred Fifty Seven only) towards Housing Loan along with future interest @7.70% per annum from the date of filing of the Original Application i.e. 08.03.2022 till full payment/realization of the amount mentioned in this operative order.
(D) The aforesaid adjudicated amount is secured by the valid and subsisting mortgage of Apartment No. 601, admeasuring 167.60 Sq. Meters, 6th Floor, Nishigandh, together with terrace admeasuring 28.52 sq. mtrs. and allotted two car parking space No. 601, constructed on S.No. 36, Hissa No. 1/1B/1/1, CTS No. 752, Pashan, Taluka Haveli, District Pune, more particularly described in the Para No. 5.10 and 5.12 of the Original Application.
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Place : Pune Date : 05.09.2024
Sd/(Dilip G Murumkar) Presiding Officer Debts Recovery Tribunal, Pune.
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1 issue framed by the court
Whether the respondent class owed payment of loan dues is established.
State Bank of India
Mr. Umang Bharatbhushan Madan
Mrs. Mansi Umang Madan
Dilip G Murumkar
As recorded by the court registry
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