Debts Recovery Tribunal allowed ICICI Bank's application for recovery of dues from two defendants who defaulted on a vehicle loan allowance simpler future interest and directed issuance of a recovery certificate.
Recovery certificate issued; order to pay Rs.29,17,901 with future interest at 9% p.a.; authorization to sell hypothecated vehicle.
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Presented on: 19.11.2021 Registered on: 11.01.2022 Decided on: 26.08.2024 Duration: Y M D 02 09 07
IN THE DEBTS RECOVERY TRIBUNAL AT PUNE (Before Shri Dilip G. Murumkar, Presiding Officer) ORIGINAL APPLICATION No.93/2022.
ICICI Bank Ltd.,
Registered under the Companies Act, 1956, having its registered at ICICI Bank Ltd, Near Chakli Circle, Old Padra Road, Vadodara 390 007 and having their Branch Office at 1194, Ramchandra Sabhamandap, Ghole Road, Shivaji Nagar, Pune, Maharashtra, 411 005 AND
ICICI Bank Ltd., 870/1, Suma House, Bhandarkar Road, Pune-411 005.
… Applicant
Versus
… Defendants
APPEARANCES
For the Applicant For the Defendants
Mr. Satyan Jagtap - Advocate Ex parte.
TOTAL CLAIM AMOUNT –Rs.29,26,161/-
(OA No.93/2022)
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[ANIL]
JUDGMENT
(Delivered on 26th August, 2024)
Defendant No.1 & 2 approached to the Applicant Bank on 17.07.2019 and requested for Term Loan Facility to purchase CAB & FBV Tipper–Tata LPK 2523 BS IV. Accordingly, the Applicant Bank considered the request and sanctioned amount of Rs.30,60,618/-, to the defendants.
In order to secure the said Vehicle Loan facility, the defendants have executed necessary loan transaction and security documents, in favour of the Applicant Bank. Further, defendants have executed unattested Deed of Hypothecation of the CAB & FBV Tipper – Tata LPK 2523 CR HD BS IV bearing Registration No.MH-12-RN-6633, on 31.07.2019, in favour of the Applicant Bank.
(OA No.93/2022)
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[ANIL]
and conditions in which the said facility was granted. Hence, the said loan account has become Non-Performing Asset as per Reserve Bank of India norms, on 15.12.2020. Therefore, the Applicant Bank has sent Loan Recall Notice dated 29.06.2021 to the defendants and demanded the entire dues. Even after repeated fallow-up, the defendants failed to pay the installments and failed to regularize the said Loan Account.
Hence, this application is filed.
(OA No.93/2022)
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[ANIL]
ORDER
(OA No.93/2022)
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[ANIL]
Place: Pune Date: 26.08.2024
Sd/(Dilip G. Murumkar) Presiding Officer, Debts Recovery Tribunal, Pune.
(OA No.93/2022)
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[ANIL]
ICICI Bank Ltd.
Mr. Sachin Vitthal Godambe
Mr. Vitthal Somaji Godambe
Dilip G. Murumkar
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
