Debts Recovery Tribunal allowed UCO Bank's application for recovery of Rs.25,77,399/- principal plus future interest as 9% p.a. against borrowers and guarantors who appeared ex parte. Order includes recovery certificate and mortgage enforcement.
Payment of Rs.25,77,399/- plus 9% p.a. interest; issue of Recovery Certificate; entitlement to sell mortgaged properties.
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 : 19.08.2019 Registered on : 27.04.2022 Decided on : 24.01.2024 Duration : Y M D 04 05 05
IN THE DEBTS RECOVERY TRIBUNAL AT PUNE (Before Shri Dilip G Murumkar, Presiding Officer)
ORIGINAL APPLICATION No. 456/2022.
UCO Bank,
A Corporate Body constituted under the Banking Companies (Acquisition & Transfer of Undertakings) Act 1970 having its head office at 10, B.T.M. Sarani, Kolkata and branch at – Market Yard, Indapur Road, Baramati, Taluka Baramati, District Pune.
.. Applicant
Versus
.. Defendants
APPEARANCES
For Applicant Advocate R.B. Ganbote. For Defendants Ex parte. TOTAL CLAIM AMOUNT – Rs.25,77,399/-
(OA No. 456/2022)
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JUDGMENT (Delivered on 24th January, 2024)
Defendant No.1 is the borrower and defendant Nos. 2 and 3 are the guarantors. As per the loan application of defendant No.1, the applicant Bank sanctioned and disbursed the Term Loans of Rs.5,00,000/- for Land Development; Rs.6,50,000/- for Grape Plantation; Rs.5,10,000/- for Packing Shed and KCC of Rs.4,00,000/- to defendant No.1 as per Sanction Letter dated 29.01.2014. Defendant Nos.2 and 3 stood guarantors for securing the Term Loans and KCC facilities to defendant No.1.
In order to secure the aforesaid Term Loans and KCC facilities, the defendants executed necessary loan and security documents along with deed of mortgage of Gat No. 47 (admeasuring 35 R) and Gat No. 50 (admeasuring 68 R)
(OA No. 456/2022)
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situated at village Kalas, Taluka Indapur, District Pune and Gat No. 288 (admeasuring 61 R); Gat No.289 (P) (admeasuring 3 R); Gat No. 290 (admeasuring 43 R); Gat No. 298 (admeasuring 40 R) and Gat No. 300 (admeasuring 24 R plus PK 1 R) situated at village Kazad, Taluka Indapur, District Pune, in favour of the applicant Bank. Thereafter, on 31.12.2016 and 30.11.2017, defendant No.1 executed Acknowledgement and confirmed the balance.
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Hence, I pass the following order :-
ORDER
(OA No. 456/2022)
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pay to the applicant Bank the sum of Rs.25,77,399/(Rupees Twenty Five Lakhs Seventy Seven Thousand Three Hundred Ninety Nine only) along with future interest @9% per annum from the date of filing of the Original Application i.e. 19.08.2019 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 Gat No. 47 (admeasuring 35 R) and Gat No. 50 (admeasuring 68 R) situated at village Kalas, Taluka Indapur, District Pune and Gat No. 288 (admeasuring 61 R); Gat No.289 (P) (admeasuring 3 R); Gat No. 290 (admeasuring 43 R); Gat No. 298 (admeasuring 40 R) and Gat No. 300 (admeasuring 24 R plus PK 1 R) situated at village Kazad, Taluka Indapur, District Pune, more particularly described in Para No. 5.17 of the Original Application.
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Place : Pune Date : 24.01.2024
Sd/(Dilip G Murumkar) Presiding Officer Debts Recovery Tribunal, Pune.
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2 issues framed by the court
Whether to allow the recovery application filed by UCO Bank against borrowers and guarantors for outstanding loan dues.
Whether to adjudge future interest at a rate lower than claimed by the bank.
2 provisions across 2 enactments
UCO Bank
Shri Dasa Shiva Narute
Shri Balu Balbhim Mane
Shri Sandip Dasa Narute
Dilip G Murumkar
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
