In an ex-parte recovery application, the Tribunal allowed the claim against absconding defendants for loan defaults, approving future interest at 9% instead of the claimed rates and securing the dues via a mortgage on a flat.
Recovery of Rs.2,17,18,459 with future interest @9% p.a. from 10.01.2022, right to sell mortgaged flat, and issuance of Recovery Certificate.
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 : 10.01.2022 Registered on : 26.04.2022 Decided on : 26.07.2024 Duration : Y M D 02 06 16
IN THE DEBTS RECOVERY TRIBUNAL AT PUNE (Before Shri Dilip G Murumkar, Presiding Officer) ORIGINAL APPLICATION No. 419/2022.
Bank of Maharashtra, Having Head office at “Lokmangal”, Shivajinagar, Pune and office at – Balaji Bhavan, Opp. Bhaji Market, Panvel 410 206.
.. Applicant
Versus
2 Mrs. Priya Vishant Dahake, Both R/o : B-1705, 17th Floor, Gandecha Symphony Cooperative Housing Society, Off New Link Road, Fun Republic Lane, Oshiwara, Andheri West, Mumbai 53.
.. Defendants
APPEARANCES
| For Applicant | Advocate Priti Bhat. |
|---|---|
| For Defendants | Exparte. |
| TOTAL CLAIM AMOUNT –Rs.2,17,18,459/- |
(OA No. 419/2022)
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JUDGMENT (Delivered on 26th July, 2024)
Defendant Nos.1 and 2 are the principal borrowers and mortgagors for the credit facility granted to them. As per the loan application of the defendants, the applicant Bank sanctioned the Term Loan (Housing) of Rs.1,58,25,000/- to the defendants vide Sanction Letter dated 31.07.2012
In order to secure the aforesaid Term Loan, the defendants executed necessary loan and security documents along with deed of mortgage of Flat No. B-1705, 17th Floor, Gandecha Symphony Co-operative Housing Society, Off New Link Road, Fun Republic Lane, Oshiwara, Andheri West, Mumbai, in favour of the applicant Bank.
Again, on 02.12.2017 additional Term Loan (Housing Top Up) of Rs.76,20,000/- for renovation and repairs of house
(OA No. 419/2022)
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property was granted by the applicant Bank to the defendants on execution of necessary loan documents in favour of the applicant Bank.
Hence, this application is filed.
(OA No. 419/2022)
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applicant Bank.
Hence, I pass the following order :-
ORDER
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interest @9% per annum from the date of filing of the Original Application i.e. 10.01.2022 till full payment/realization of the amount mentioned in this operative order.
(C) The aforesaid adjudicated amount is secured by the valid and subsisting mortgage of Flat No. B-1705, 17th Floor, Gandecha Symphony Co-operative Housing Society, Off New Link Road, Fun Republic Lane, Oshiwara, Andheri West, Mumbai, more particularly described in Para No.3A of the Original Application.
Place : Pune Date : 26.07.2024
Sd/(Dilip G Murumkar) Presiding Officer Debts Recovery Tribunal, Pune.
(OA No. 419/2022)
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2 issues framed by the court
Whether the Debts Recovery Tribunal is empowered to recover dues when defendants fail to appear.
What rate of future interest is just and reasonable in the present fact pattern.
1 provisions across 1 enactments
Bank of Maharashtra
Mr. Vishant Purushotham Dahake
Mrs. Priya Vishant Dahake
Dilip G Murumkar
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
