The Debts Recovery Tribunal allowed the bank's application for recovery of dues aggregating to Rs.27,81,956/- along with future interest at 9% per annum. The tribunal noted that the defendants failed to appear for the hearing.
Payment of Rs.27,81,956/- with future interest @9% pa, enforcement of mortgage, 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: 28.08.2021 Registered on: 18.12.2021 Decided on: 02.05.2024 Duration: Y M D 2 4 14
IN THE DEBTS RECOVERY TRIBUNAL AT PUNE (Before Shri Dilip G Murumkar, Presiding Officer) ORIGINAL APPLICATION No.57/2022
Union Bank of India (erstwhile Corporation Bank) A Body Corporate constituted under the provisions of the Banking Companies (Acquisition & Transfer of Undertakings) Act, 1980 having its Head Office at Mangalore in the State of Karnataka and one of its branch offices amongst other places at Ratnagiri, Office No.2, D Wing, 1st Floor, Jawahar Plaza, Main Road, Ratnagiri – 415 612.
… Applicant
Versus
R/at: H.No.195, A, Kasar Wadi,
(OA No.57/2022)
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[KAUR]
R/at: Adachi Wadi, Godavali, Tal. Sangameshwar, Dist. Ratnagiri – 415 804.
…Defendants
APPEARANCES
For the Applicant Mr. Sriniwas Y - Advocate For Defendants Ex parte
TOTAL CLAIM AMOUNT –Rs.27,81,955.60Ps.
JUDGMENT
(Delivered on 2nd May, 2024)
Defendant Nos.1 and 2 approached the applicant Bank
(OA No.57/2022)
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[KAUR]
(erstwhile Corporation Bank) seeking financial assistance for the purpose of cultivation of Mango crops. After due consideration, the applicant Bank on 25th October, 2016 sanctioned and disbursed the Cash Credit facility of Rs.10,40,000/- under Kisan Credit Card to defendant Nos.1 and 2. Defendant No.3 stood as guarantor to the credit facility granted by applicant Bank to defendant Nos.1 and 2.
The defendants executed necessary loan transaction and security documents in favour of the applicant Bank. In order to secure the said facility, the defendant Nos.1 and 2 executed simple mortgage in favour of the applicant Bank in respect of the immovable properties as mentioned in paragraph No.5.7 of the Original Application.
(OA No.57/2022)
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[KAUR]
Thereafter, on 30th July, 2020 the applicant Bank issued Legal Notice to the defendants and thereby demanded outstanding loan amount together with costs, charges and interest. Despite service of Notice, defendants failed and neglected to comply with the demand in the said Notice. Hence, this application is filed.
(OA No.57/2022)
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[KAUR]
Hence, I pass the following order:-
ORDER
(A) Original Application No.57/2022 is allowed with costs.
(B) Defendant Nos.1 to 3 either jointly or severally shall pay to the applicant Bank the aggregate sum of Rs.27,81,956/(Rupees Twenty-Seven Lakhs Eighty-One Thousand Nine Hundred and Fifty-Six only) with future interest @9% per annum from the
date of filing of the Original Application i.e. 28th August, 2021 till payment/realization of the
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[KAUR]
amount mentioned in this operative order.
Sd/(Dilip G Murumkar) Place : Pune Presiding Officer Date: 02.05.2024 Debts Recovery Tribunal, Pune
(OA No.57/2022)
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[KAUR]
1 issue framed by the court
Whether the applicant bank is entitled to recover the outstanding loan amount with interest as claimed in the debt recovery application.
Union Bank of India (erstwhile Corporation Bank)
Mr. Rajendra Raghunath Jadhav
Mr. Rajesh Vijay Jadhav
Mr. Nayana Sandip Jadhav
Dilip G Murumkar
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
