Allowed

Bank of Maharashtra v. Hindurao Liman

DRT24 Jun 2024OA/822/2022

Case brief

AI extract

What is this about?

In a debt recovery application, the Debts Recovery Tribunal, Pune, allowed the Bank of Maharashtra's claim for Rs. 22,68,757 against borrowers and guarantors. The court granted future interest at 9% per annum and directed enforcement against mortgaged properties while denying a claim on hypothecated assets due to lack of detail.

What did the court decide?

Defendants to pay Rs. 22,68,757 with interest @9% p.a. Bank entitled to sell mortgaged properties and issue Recovery Certificate. Hypothecated assets relief denied.

Bank of Maharashtra versus Hindurao Liman — Banking and Recovery | DRT (2024)

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Presented on: 16.10.2019 Registered on: 04.05.2022 Decided on: 24.06.2024 Duration: Y M D 4 8 8

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IN THE DEBTS RECOVERY TRIBUNAL AT PUNE. (Before Shri Dilip G. Murumkar, Presiding Officer) ORIGINAL APPLICATION No.822/2022.

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Bank of Maharashtra,

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A Banking Company incorporated under the Banking Companies (Acquisition and Transfer of Undertakings) Act V of 1970, having its Head Office at “Lokmangal” 1501, Shivajinagar, Pune-5 and branch amongst other places at Agri-Hi Tech Branch, Sinhgad Road, Pune-411051, through its Chief Manager, Mr. Shivanand Mokashi.

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… Applicant

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Versus

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Mr. Hindurao Baban Liman Age: adult, Occ.-Business,

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Mr. Jaywant Balasaheb Jagtap Age: adult, Occ.-Business,

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Mrs. Ratna Sanjay Khandagale Age: adult, Occ.-Business, All R/at-Post Taluka Khandala, District – Satara- 411 002.

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… Defendants

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APPEARANCES

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For the Applicant V. S. Tokekar & Company. For the Defendants Ex parte.

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TOTAL CLAIM AMOUNT –Rs.22,68,757/-

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JUDGMENT

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(Delivered on 24^th June, 2024)

(OA No.822/2022)

Page 1 of 8

[ANIL]

The applicant Bank filed present application for recovery of sum of Rs.22,68,757/- together with future interest thereon @12.65% per annum with monthly rests from the date of application till the actual repayment/realization of entire dues from the defendants.

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Brief facts of the application are as under:

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Defendant No.1 was in need of financial assistance for Goat Farm (Construction of shed and purchase of Goats), so he approached and requested the Applicant Bank for availing Term Loan Facility of Rs.20 Lakhs on 01.07.2016. Defendant No.2 and 3 are the guarantors for discharging the liability of Defendant No.1. The Applicant Bank considered request of the defendant No.1 and sanctioned Term Loan Facility of Rs.20,00,000/- and disbursed the same on 15.07.2016.

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In order to secure the said Term Loan facilities, the defendants executed necessary loan transaction and security documents, in favour of the Applicant Bank. Further, defendants have mortgaged the following immovable properties -

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( A ) All that piece and parcel of the land property lying at village Lohom, Taluka Khandala, District Satara bering Gat No.204 area admeasuring 0 Hector 43 Ares pot kharaba

(OA No.822/2022)

Page 2 of 8

[ANIL]

including pot kharaba having assessment of Rs.0 and 89 paise out that common share.

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( B ) All that piece and parcel of the land property lying at village Limbachiwadi, Taluka Khandala, District Satara bearing (i) Gat No.22 area admeasuring 0 Hector 14 Ares having assessment of Rs.0 and 56 paise out of the common share, Gat No.54 admeasuring 0 Hector 61 Ares having assessment of Rs.1.56 paise out of the common share.

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(ii)- Gat No.74 area admeasuring 0 Hector 42 Ares including pot kharaba having assessment of Rs.0 and 22 paise out of the common share;

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(iii)- Gat No.78 area admeasuring 0 Hector 17.0 Ares including pot kharaba having assessment of Rs.0 and 41 paise out of the common share;

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(iv)- Gat No.174 area admeasuring 1 Hector 55 Ares including pot kharaba having assessment of Rs.0 and 69 paise out of the common share;

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(v)- Gat No.170 area admeasuring 11 Hector 84 Ares including pot kharaba having assessment of Rs.6 and 31 paise out of the common share;

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(vi)- Gat No.308 area admeasuring 0 Hector 41 Ares including pot kharaba having assessment of Rs.0 and 19 paise out of the common share;

(OA No.822/2022)

Page 3 of 8

[ANIL]

( C ) - All that piece and parcel of Land property lying at Village Zagalwadi, Taluka Khandala, District Satara bearing-

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(i)- Gat No.143 area admeasuring 0 Hector 10.1 Ares including pot kharaba having assessment of Rs.1 and 84 paise out of the common share;

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(ii)- Gat No.211 area admeasuring 1 Hector 08 Ares having pot kharaba having assessment of Rs.0 and 69 paise out of the common share;

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(iii)- Gat No.236 area admeasuring 0 Hector 31 Ares including pot kharaba having assessment of Rs.0 and 17 paise out of the common share;

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(iv)- Gat No.220 area admeasuring 0 Hector 72 Ares including pot kharaba having assessment of Rs.0 and 31 paise out of the common share;

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(v)- Gat No.212 area admeasuring 2 Hector 75 Ares including pot kharaba having assessment of Rs.1 and 37 paise out of the common share, as described in Para No.5(d) of the Original Application.

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It is contended that after availing and utilizing the said Term Loan facilities, defendants have failed to repay the loan amounts as per terms of sanction. Hence, the said Term loan account was classified as Non-Performing Asset as per the Reserve Bank of India norms.

(OA No.822/2022)

Page 4 of 8

[ANIL]

Thereafter, the applicant Bank on 16.03.2019 issued Recall Notice to the defendants calling upon them to pay the outstanding amounts. Despite service of Notice, the defendants failed and neglected to comply with the demand in the said Notice.

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Hence, this application is filed.

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Defendants failed to appear despite service of summons. Hence, the application proceeded ex parte against them vide Order dated 23.04.2024 passed below the Application (Exhibit-01).

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The applicant Bank has filed Claim Affidavit of evidence (Exhibit-6) of Mr. Shivanand Mokashi, Chief Manager, which supports the case of the applicant elucidated in the application.

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The applicant Bank has produced in evidence the original loan documents at Sr.Nos.AW-1/1 to AW-1/12, which corroborate the case of the applicant Bank.

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I have heard arguments of the learned Advocate for the Applicant Bank.

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Since the defendants failed to appear and contest the application, I find no reason to disbelieve the evidence of the Applicant Bank. Therefore, the Applicant Bank is entitled for reliefs as claimed.

(OA No.822/2022)

Page 5 of 8

[ANIL]

The Applicant Bank has claimed relief in respect of hypothecated assets. However, there is no detailed description with respect to the hypothecated assets. Therefore, the relief in terms of hypothecated assets cannot be granted.

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Considering the facts of the present case, I am of the opinion that if future interest is granted @9% per annum (simple) for all the facilities, it would be just and reasonable.

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Hence, I pass the following order: -

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ORDER

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(A) Original Application No.822/2022 is allowed with costs.

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(B) Defendant Nos.1 to 3 either jointly or severally shall pay to the Applicant Bank towards Term Loan facility a sum of Rs.22,68,757/- (Rupees Twenty Two Lakhs Sixty Eight Thousand Seven Hundred Fifty Seven only) with future interest @9% per annum from the date of filing of the Original Application i.e.16.10.2019 till payment/realization of the amount mentioned in this operative order.

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(C) The aforesaid adjudicated amount is secured by the valid and subsisting mortgage of the following immovable properties –

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( A ) All that piece and parcel of the land property lying at village Lohom, Taluka Khandala, District Satara bearing Gat No.204 area

(OA No.822/2022)

Page 6 of 8

[ANIL]

admeasuring 0 Hector 43 Ares pot kharaba including pat kharaba having assessment of Rs.0 and 89 paise out that common share.

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( B ) All that piece and parcel of the land property lying at village Limbachiwadi, Taluka Khandala, District Satara :-

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( i ) Gat No.22 area admeasuring 0 Hector 14 Ares having assessment of Rs.0 and 56 paise out of the common share, Gat No.54 admeasuring 0 Hector 61 Ares having assessment of Rs.1.56 paise out of common share;

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( ii )- Gat No.74 area admeasuring 0 Hector 42 Ares including pot kharaba having assessment of Rs.0 and 22 paise out of the common share;

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( iii )- Gat No.78 area admeasuring 0 Hector 17.0 Ares including pot kharaba having assessment of Rs.0 and 41 paise out of the common share;

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( iv )- Gat No.174 area admeasuring 1 Hector 55 Ares including pot kharaba having assessment of Rs.0 and 69 paise out of the common share;

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( v )- Gat No.170 area admeasuring 11 Hector 84 Ares including pot kharaba having assessment of Rs.6 and 31 paise out of the common share;

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( vi )- Gat No.308 area admeasuring 0 Hector 41 Ares including pot kharaba having assessment of Rs.0 and 19 paise out of the common share;

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( C ) - All that piece and parcel of Land property lying at Village Zagalwadi, Taluka Khandala, District Satara :-

(OA No.822/2022)

Page 7 of 8

[ANIL]

( i )- Gat No.143 area admeasuring 0 Hector 10.1 Ares including pot kharaba having assessment of Rs.1 and 84 paise out of the common share;

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( ii )- Gat No.211 area admeasuring 1 Hector 08 Ares having pot kharaba having assessment of Rs.0 and 69 paise out of common share;

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( iii )- Gat No.236 area admeasuring 0 Hector 31 Ares including pot kharaba having assessment of Rs.0 and 17 paise out of the common share;

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( iv )- Gat No.220 area admeasuring 0 Hector 72 Ares including pot kharaba having assessment of Rs.0 and 31 paise out of the common share;

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( v )- Gat No.212 area admeasuring 2 Hector 75 Ares including pot kharaba having assessment of Rs.1 and 37 paise out of the common share, as described in Para No.5(d) of the Original Application.

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(D) The Applicant Bank is entitled to sell the mortgaged properties to recover its dues.

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(E) Issue Recovery Certificate.

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(F) The Registrar is directed to send the copy of Judgment and Recovery Certificate to the Applicant Bank and the defendants.

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Sd/(Dilip G. Murumkar) Place: Pune Presiding Officer Date: 24.06.2024 Debts Recovery Tribunal, Pune

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(OA No.822/2022)

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Page 8 of 8

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[ANIL]

Bank of Maharashtra v. Hindurao Liman

Case brief

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Bank of Maharashtra v. Hindurao Liman

Case brief

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