The Debts Recovery Tribunal allowed the bank's original application for recovery of an outstanding loan amount of Rs.35,61,930/- along with interest, as the defendant failed to contest the claim.
Defendant to pay Rs.35,61,930/- plus future interest at 9.05% p.a.; bank entitled to proceed against mortgaged properties; 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 : 06.03.2023 Registered on : 19.05.2023 Decided on : 13.06.2024 Duration : Ys. Ms. Ds. 01 04 07
IN THE DEBTS RECOVERY TRIBUNAL AT AURANGABAD. ORIGINAL APPLICATION No.79/2023
Total Claim Amount : Rs.35,61,930/-.
BANK OF BARODA,
Erstwhile Dena Bank amalgamated into Bank of Baroda with effect from 1st April 2019 in terms Gazette of India no. GSR. No. 2F dated 2nd January 2019 issued by ministry of Finance Govt. India. body corporate constituted under the Banking Companies (Acquisition & Transfer of Undertaking) Act, 1970, having its Head Office at Manavi, Baroda Gujarat & having one of its Branch at Ambijalgaon, Tq. Karjat, Dist. Ahmednagar, Through its authorized officer Menka Bhadani, Age: 38 Years, Occu.: Service, as a Senior Manager at Recovery Department Regional Office, Bank of Baroda, Aurangabad, R/o. Aurangabad.
...APPLICANT
VERSUS
M/s Jyotideep & Sons Logistics, Prop. Jyoti Deepak Mane, Age.: Major, Occ: Business, R/o. Shahaji Nagar, Karjat, Dist. Ahmednagar Pin code : 414402 Mobile No. 9096367019 Email Id : [email protected]
...DEFENDANT
APPEARANCES For the Applicant Mr. A.L. Muley – Advocate For Defendant None (Ex-parte)
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(OA No.79/2023)
Shri Vimal Gupta Presiding Officer
JUDGMENT PRONOUNCED ON : 13.06.2024
1] This is an application under sub-section (1) of Section 19 of the Recovery of Debts due to Banks and Financial Institution Act,1993(The 1993 Act for Short)/Recovery of Debts And Bankruptcy Act 1993 for recovery of due in the sum of Rs.35,61,930/- with future interest @ 9.05% p.a. from 23.08.2022 till its realization and, in default, for sale of mortgaged/ hypothecated properties, as described in the Original Application.
2] It is pleaded that defendant is borrower. After execution of relevant documents in respect of the properties mentioned in Schedule – A i.e.
SCHEDULE – A
| A] | ALPG Tanker having Registration no. MH-16 CE- 2800 |
|---|---|
| chassis no. MB1TLKHDXKRDDC 7132 Engine no. | |
| KEHZ406040 standing in the name of Jyoti Deep & Sons | |
| Logistics Prop. Jyoti Deepak Mane which is hypothecated | |
| with applicant bank. |
of the original application by defendant in favour of applicant bank to secure the loan amount and on accepting terms and conditions as to repayment with interest thereon, applicant bank sanctioned and disbursed following loan to the defendant :-
| Particulars | Loan amount | Sanctioned on |
|---|---|---|
| 1 Fund Based and Non-Fund | Rs.39,30,000/- | 12.06.2019 |
| Limit Facilityunder Stand-up |
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(OA No.79/2023)
India Scheme.
3] The defendant failed to repay the loan amount as agreed therefore, the loan account classified into NPA on 22.08.2022 and the applicant bank issued legal demand notice to defendant on 25.01.2023 for total outstanding amount of Rs.35,61,930/- with agreed interest, to which the defendant did not pay any response and therefore, the bank has filed the present Original Application for recovery of the amount, as aforesaid.
4] The defendant despite service on him did not choose to enter appearance either personally or through his Advocate. Hence, defendant has failed to show cause as to why reliefs prayed for should not be granted.
5] The applicant bank has filed claim affidavit (Exhibit-04) of Mrs. Menka Bhadani, along with original documents to corroborate and prove its claim as given in the Original Application thereby adducing in evidence the original documents at Sr.No.AW-1 to AW-15 which are admitted in evidence, read, recorded and exhibited.
6] I have scrutinized and examined the allegations made in the Original Application and analyzed the evidence adduced by the applicant in support of it’s claim. The defendants chose not to appear and contest the claim made by the applicant. The claim of the applicant thus goes uncontroverted and unrebutted.
8] I have scrutinized and examined the averments made in the Ori. Application and analyzed the evidence adduced by the applicant in
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(OA No.79/2023)
support of its claim. The claim of the applicant foes uncontroverted and unrebutted and stands admitted as no written statement /reply to show cause is filed.
9] Based on the pleading claim affidavit, original documents, oral submission by the counsel of the applicant bank, the applicant bank has corroborated and proved its claim, as mentioned in the Original Application.
10] In view of the observations made hereinabove, the Original Application filed by the applicants deserves to be granted, further due to reduced rate of interest and COVID-19 pandemic, I have to grant reasonable interest from the date of filing of the OA till realization Hence, I Pass the following orders :-
ORDER
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(OA No.79/2023)
SCHEDULE – A
(Vimal Gupta) Presiding Officer, Debts Recovery Tribunal, Aurangabad.
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(OA No.79/2023)
1 issue framed by the court
Whether the original application filed by the bank for recovery of the due amount under Section 19 of the RDBFI Act, 1993 deserves to be allowed.
1 provisions across 1 enactments
Bank of Baroda
Vimal Gupta
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
