Allowed

Bank of Baroda v. Kisore

DRT23 Apr 2024OA/525/2022

Case brief

AI extract

What is this about?

The Debt Recovery Tribunal allowed the original application filed by Bank of Baroda against two defendants for recovery of outstanding dues. The bank had obtained a mortgage and promissory notes, classified the account as NPA, issued a recovery notice, and the defendants failed to appear or repay. The court found the bank's case proven through documents and awarded recovery.

What did the court decide?

The original application was allowed; a recovery certificate was directed to be issued and sent to the Recovery Officer.

Bank of Baroda versus Kisore — Banking and Recovery | DRT (2024)

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OA 525 of 2022

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Registered on : 15.09.2022 Decided on : 09.02.2024

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IN THE DEBT RECOVERY TRIBUNAL-I AT MUMBAI ORIGINAL APPLICATION NO. 525 of 2022

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BANK OF BARODA A body Corporate constituted under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 having its Head Office at Baroda Bhavan, R. C. Dutt Road, Alkapuri Baroda 390 007 and Corporate Centre, Bandra-Kurla Complex, Bandra (East), Mumbai- 400 051 and its Bank of Baroda, Ballard Estate Branch having its Branch at Orient House, Adi Marzban Road, Ballard Estate, Mumbai- 400 001 through its Chief Manager Mr. Rajesh Kumar

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…. APPLICANT

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VERSUS

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MR. KISHORE BHOORARAM CHOUDHARY, (Alias Kesharam Bhooraram Choudhary) of Indian Inhabitant residing at Flat No. 308, 3^rd Floor, Building No. 2, Tulja Bhavani Sankul, Village Virar, Kargil Nagar, Manvelpada Road, Virar (East), Taluka Vasai, Palghar- 401 303.

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MRS. KAMLA KISHORE CHOUDHARY, of Indian Inhabitant residing at Flat No. 308, 3^rd Floor, Building No. 2, Tulja Bhavani Sankul, Village Virar, Kargil Nagar, Manvelpada Road, Virar (East), Taluka Vasai, Palghar401 303.

… DEFENDANTS

OA 525 of 2022

known as “Tulja Bhavani Sankul” constructed on the land bearing Survey No. 162, Hissa No. 1 part, Plot No. B, Village Virar, Kargil Nagar, Manvelpada Road, Virar (East), Taluka Vasai, District Palghar.

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In consideration of sanction of the aforesaid facility, Defendants executed necessary loaning and security documents in favour of the Applicant:

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i. A Demand Promissory Note

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ii. Letter of Repayment

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iii. Article of Agreement

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In order to further secure the aforesaid facility Defendant No. 1 in capacity as the owner and mortgagor attended the Branch office of Excelsior Branch of erstwhile Vijaya Bank, Mumbai on 30.01.2016 and created an equitable mortgage in favour of the Applicant by way of deposit of original title deeds in respect of the immovable property being the Flat No. 308 admeasuring 550 sq. ft. (built up area) situate on 3^rd Floor, of the Building No. 2 building complex known as “Tulja Bhavani Sankul” constructed on the land bearing Survey No. 162, Hissa No. 1 part, Plot No. B, Village Virar, Kargil Nagar, Manvelpada Road, Virar (East), Taluka Vasai, District Palghar belonging to Defendant No. 1.

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Further, it is stated that pursuant to another application made by the Defendants, the Applicant vide sanction letter dated 01.02.2016 granted a Home Loan (Under VHL scheme) of Rs. 8,64,000/(hereinafter referred to as Term Loan- II) in the joint names of the Defendants for the purpose of purchasing the Flat No. 107 situate on the 1^st Floor of the building No. 2, building complex known as “Tulja

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OA 525 of 2022

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Bhavani Sankul” constructed on the land bearing Survey No. 162, Hissa No. 1 part, Plot No. B, Village Virar, Kargil Nagar, Manvelpada Road Virar (East), Taluka Vasai, District.

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In consideration of sanction of the aforesaid facility, Defendants executed following loaning and security documents in favour of the Applicant:

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i. A Demand Promissory Note

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ii. Letter of Repayment

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iii. Article of Agreement

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In order to further secure the aforesaid facility Defendant No. 1 in capacity as the owner and mortgagor attended the Branch office of Excelsior Branch of erstwhile Vijaya Bank, Mumbai on 30.01.2016 and created an equitable mortgage in favour of the Applicant by way of deposit of original title deeds in respect of the immovable property being Flat No. 107 situate on the 1^st Floor of the building No. 2, building complex known as “Tulja Bhavani Sankul” constructed on the land bearing Survey No. 162, Hissa No. 1 part, Plot No. B, Village Virar, Kargil Nagar, Manvelpada Road Virar (East), Taluka Vasai, District.

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It is further stated that Defendants by acknowledgements of liability dated 18.09.2018 and 25.02.2019 respectively duly confirmed, admitted and acknowledged their liabilities and indebtedness to the Applicant.

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However, after availing aforesaid facilities, Defendants failed and neglected to repay the outstanding dues, thus the accounts were classified as NPA with effect from 31.05.2019. Thereafter, the Applicant issued demand notice dated 01.06.2019 under section 13

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OA 525 of 2022

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(2) of the SARFAESI Act, 2002, and called upon the Defendants to repay the outstanding dues. Subsequently, Applicant by their Advocate notice dated 31.01.2022 called upon the Defendants to may the outstanding dues. but failed to do so. Hence, the present OA has been filed.

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Notices were issued to the Defendants. Despite service, none appeared on behalf of the Defendant No. 1 & 2 nor any WS has been filed, thus, they were proceeded ex-parte vide order dated 04.01.2024.

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The Applicant Bank has produced all the Original Loan documents and other relevant documents along with their Claim Affidavit filed through Chief Manager Ranjan Kumar.

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I have heard the Ld. Counsel for the Applicant Bank and perused the record.

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The witness of the Applicant Bank has fully corroborated the averments made in the OA, even otherwise the whole case of the Applicant Bank is based on documents and the witness has duly proved all these documents as against the defendants. In my view there is no question of disbelieving the evidence led by the Applicant Bank and the Applicant Bank has proved its case beyond reasonable doubt. The liability of Defendant No. 1 & 2 is joint and several.

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In the light of above discussions, the Original Application filed by the Applicant Bank deserves to be allowed against the Defendant No. 1 & 2.

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OA 525 of 2022

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(v) Recovery Certificate be issued forthwith and be sent to the Recovery Officer of this Tribunal.

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Copy of this order be sent to the parties as per rules.

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File be consigned to record.

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Place: Mumbai. (Dr. Rekha G. Dhakar) Date : 09.02.2024 Presiding Officer,

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DRT-1, Mumbai.

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Tjs/-

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Bank of Baroda v. Kisore

Case brief

What is this about?

What did the court decide?

Bank of Baroda v. Kisore

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

Coram

Case details

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