Allowed

Punjab National Bank v. Nikhil Ghatkar

DRT18 Jun 2025OA/1041/2022

Case brief

AI extract

What is this about?

In an ex-parte application for recovery, the Debt Recovery Tribunal allowed the claim of Punjab National Bank against two defendants for Rs. 59,22,666/- towards a term loan. The court directed future interest at 9% p.a. and authorized the sale of mortgaged properties.

What did the court decide?

Declaration that respondents shall pay Rs. 59,22,666/- plus future interest at 9% p.a.; authorization to sell mortgaged properties; issuance of recovery certificate.

Punjab National Bank versus Nikhil Ghatkar — Contract and Commercial Disputes | DRT (2025)

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Presented on: 27.07.2022 Registered on: 11.11.2022 Decided on: 18.06.2025 Duration: Y M D 02 10 21

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IN THE DEBTS RECOVERY TRIBUNAL AT PUNE (Before Shri Dilip G. Murumkar, Presiding Officer) ORIGINAL APPLICATION No.1041/2022.

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Punjab National Bank,

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A Bank constituted under the Banking Companies (Acquisition and Transfer of Undertakings) Act 1970, having its Head Office at Plot No.7, Sector No.10, Dwarka, New Delhi-110 037 and interalia having its one of the branch at Bibvewadi, Pune-411 037. Thereafter, account transferred to Circle SASTRA Centre, Ground Floor Arora Towers, 9, Moledina Road, Pune-411 001.

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… Applicant

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Versus

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Mr. Nikhil Pramod Ghatkar

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Mrs. Trupti Nikhil Ghatkar

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– Both R/at

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(i) Shivam Vihar, A-Wing,

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Flat No.402, Ambethan Chowk, Near Yashwant Nagar, Chakan, Pune-410 501.

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(ii)- Flat No.101, 102 & 103,

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1^st Floor, Shree Ganesh Residency, Vill-Kasaramboli, Tal. Mulshi, District Pune-412 108.

(OA No.1041/2022)

Page 1 of 8

[ANIL]

(iii)- Gat No.281, Nanekwadi, Alandi Phata, Opp. Gandharva Hotel, Chakan, Pune-411 501.

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(iv)- Shop No.5, Gat No.1752, Ground Floor, Sai Baba Paradise, Chakan, Pune-411 501. …Defendants

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APPEARANCES

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For the Applicant Mrs. Rajashree Thakar – Advocate. For the Defendants Ex-parte.

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TOTAL CLAIM AMOUNT –Rs.60,92,099/-.

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JUDGMENT

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(Delivered on 18^th June, 2025)

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The Applicant Bank has filed present application for recovery of Rs.60,92,099/- towards Term Loan Account No.09866011002256 with future interest @7.90%p.a. plus penal interest @2% p.a. from 09.07.2022 till repayment/realization of the entire dues from the defendants.

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Brief facts of the application are as under:

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In the year 2018, the defendants approached to Oriental Bank of Commerce (Now amalgamated in to the ‘Applicant Bank) and submitted that they were in need of financial assistance in the form of loan and credit facility for the purpose of purchasing Flat.

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Applicant Bank considered the proposal of the defendants and sanctioned and disbursed Term Loan of Rs.51,30,000/- on 05.06.2018 to the defendants, on certain terms and conditions.

(OA No.1041/2022)

Page 2 of 8

[ANIL]

Defendants have executed necessary loan transaction and security documents in favour of the Applicant Bank as set out in Para Nos.5 (a to d) of the Original Application.

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It is contended by the Applicant Bank that on 12.06.2018 the defendants have mortgaged following immovable properties in favour of the Applicant Bank i.e. –

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(i)- Flat bearing No.101, having carpet area admeasuring 35.936 sq. mtrs. i.e. 386.68 sq. ft. and exclusively terrace area admeasuring 4.17 sq. meters i.e. 44.84 sq. fts. on the 1^st floor, alongwith covered parking No.101, admeasuring 10 Sq. mtrs.;

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(ii)- Flat bearing No.102, having carpet area admeasuring 36.66 sq. mtrs. i.e.394.51 sq. ft. and exclusively terrace area admeasuring 3.42 sq. meters i.e.38.94 sq. ft. on the 1^st floor, alongwith covered parking No.102, admeasuring 10 sq. mtrs.

AND

(OA No.1041/2022)

Page 3 of 8

[ANIL]

and being at village Kasaramboli, Taluka Mulshi, District Pune situated within the jurisdiction of registration District Pune, Sub District Taluka Mulshi (Paud) and within the limits of Pune Zilha Parishad Pune and Taluka Panchayat Samiti, Mulshi, Pune, more particularly described in the Schedule of the Original Application.

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Defendants have acknowledged the debt by lastly depositing an amount of Rs.36,000/- on 29.02.2020 in the said loan account. The defendants have availed the loan facility sanctioned by the applicant bank and the applicant bank has duly maintained the details of the aforesaid loan account in their Books of Account in the ordinary and regular course of business in which all transactions are duly reflected.

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The defendants failed and neglected to regularize the said loan account and also failed to maintain the cash credit account. Therefore, the loan account of the defendants has been declared as NPA on 31.03.2021.

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Thereafter, the Applicant Bank has issued Demand Notice dated 24.05.2021 U/s 13(2) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, to the defendants and taken symbolic possession of the property on 08.12.2021.

(OA No.1041/2022)

Page 4 of 8

[ANIL]

It is contended by the applicant bank that as the defendants failed and neglected to repay the outstanding dues, finally the applicant bank by its Advocate’s notice dated 02.03.2022 through RPAD called upon the defendants to repay the outstanding dues with interest to the applicant bank under the said credit facilities. Despite service of the Notice, the defendants failed and neglected to comply with the demand in the said Notice.

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Hence, this Application.

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Defendants failed to appear despite service of summons. Hence, the application proceeded ex-parte against them as per order dated 27.03.2025 passed below Application (Exhibit-1).

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The Applicant Bank has filed Claim Affidavit (Exhibit-6) of Mr. Praveen Chandra Potdar Son of Madhukar Potdar, Branch Manager and Authorized Official, which supports the case of the applicant elucidated in the application whereas defendants failed to lead the evidence.

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The Applicant Bank has produced in evidence the list of documents and filed the loan and security documents at Sr. Nos. AW-1/1 to AW-1/10, in support of its case.

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

(OA No.1041/2022)

Page 5 of 8

[ANIL]

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 the reliefs claimed.

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The applicant bank has claimed relief in respect of Penal Interest of Rs.1,42,933/- and Legal and other charges of Rs.26,500/-, which cannot be granted. Therefore, it is required to deduct the same from total claim amount of Rs.60,92,099/-, which comes to Rs.59,22,666 /-.

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The Applicant Bank has claimed future interest @7.90% p.a. plus penal interest @2% p.a. under Housing Loan from the defendants. Having regard to the facts of the case, I am of the opinion that if future interest is granted @9% per annum, it would be just and reasonable rate of interest.

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Hence, I pass the following order:-

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ORDER

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(A) Original Application No.1041/2022 is allowed with costs.

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(B) Defendants No.1 and 2 either jointly or severally shall pay to the Applicant Bank an amount of Rs.59,22,666 /- (Rupees Fifty Nine Lakhs Twenty Two Thousand Six Hundred Sixty Six only) towards Term Loan Account No.09866011002256 with future interest @9.00%p.a. from the date of filing of the Original Application i.e. 27.07.2022 till payment / realization of the amount mentioned in this operative order.

(OA No.1041/2022)

Page 6 of 8

[ANIL]

(iii)- Flat bearing No.103, having carpet area admeasuring 36.45 sq. meters i.e. 392.17 sq.ft. and exclusively terrace area admeasuring 3.68 sq. meters i.e. 39.60 sq. fts. on the 1^st floor, alongwith covered parking No.103, admeasuring 10 sq. meters, on the ground floor of the said building called as “ Shree Ganesha Residency”, constructed on land bearing Plot No.7, admeasuring area about 500 sq. meters and Plot No.8 admeasuring area about 500 sq. meters totally admeasuring about 1000 sq. meters out of Gat No.65 situate, lying and being at village Kasaramboli, Taluka Mulshi, District Pune situated within the jurisdiction of registration District Pune, Sub District Taluka Mulshi (Paud) and within the limits of Pune Zilha Parishad Pune and Taluka Panchayat Samiti, Mulshi, Pune, more particularly described in the Schedule of the Original Application.

(OA No.1041/2022)

Page 7 of 8

[ANIL]

(D) The Applicant Bank is entitled to sell the above mentioned 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 the Judgment and Recovery Certificate to the applicant and the defendant.

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Sd/-

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Place : Pune (Dilip G. Murumkar) Date: 18.06.2025 Presiding Officer, Debts Recovery Tribunal, Pune.

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(OA No.1041/2022)

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Page 8 of 8

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[ANIL]

Punjab National Bank v. Nikhil Ghatkar

Case brief

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Punjab National Bank v. Nikhil Ghatkar

Case brief

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