Allowed

Bank of India v. Dhannu Pariwale

DRT10 Feb 2025OA/1051/2023

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the applicant Bank's Original Application for recovery of dues against the defendants. The court found the defendants jointly liable for the outstanding amount, fixed the rate of interest, and issued a recovery certificate under Section 19.

What did the court decide?

Defendants to jointly and severally pay Rs. 30,81,822.16 with interest at 12% p.a. simple; Recovery Certificate issued under Section 19(2).

Bank of India versus Dhannu Pariwale — Contract and Commercial Disputes | DRT (2025)

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DEBTS RECOVERY TRIBUNAL : JABALPUR

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(for the States of Madhya Pradesh and Chhattisgarh)

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(Presiding Officer - Hon'bte Shri Ram Niwas Patet)

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Original Application No. 1051 t23

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Bank of lndia, lndira Nagar Branch, Burhanpur (M.P.)

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Applicant

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Versus

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Dhannu Pariwa[e, S/o Baba Pariwate

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Sanjesh Pariwate, S/o Dhannu Pariwate

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(Both R/o 410162, Bapu Gonsai Marg, Burhanpur, M.P.)

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Defendants

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Counsel for the Appticant : Shri Shreyas Dubey, Advocate Defendants : Ex-parte

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JUDGMENT

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(oatea : TotF february, 2025)

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The Appticant-Bank has fited the^present Original Apptication u/s 19 of Recovery of Debts and Bankruptcy Act on 27/07/23^{against the} Defendants for recovery of Rs. 30,81,822.16^(Rupees Thirty Lakh,^EightyOne Thousand, Eight Hundred Twenty Two and Pa'isa Sixteen only) along^with interest and other retiefs as stated.

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The brief facts of the case are that on the request of Defendant No.-1, the Appticant Bank sanctioned KCC of Rs. 9.90 Lakh^on 28/07115 and Term Loan of Rs. 6 Lakh on¹²¹⁰⁷ /16.^{ln considerationof the} sanction of credit facitities the Defendant No.'1 as borrower and^Defendant No.-2 as guarantor in addition to execution of loan documents have also created lien over the immovabte^property, i.e., Land having^{Khasra No.-} 78011,280/3 admeasuring 3.30 and 0.100 hectares total admeasuring 3.40 hectares situated at Vittage-Nadurakhurd, PHN: 13, Tehsit: Khakhnar, District-Burhanpur (M.P.), lcchapur, Tehsit & District-Burhanpur (M.P.). The Defendant availed the credit facitities and atso executed Letter of Acknowtedgments of Debt latest being on 23102/18 but did not adhere with the financial discipline. The accounts became NPA and the Defendants fajted to [iquidate the outstanding dues despite issuance of LegaI Notice on

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oA 1051/23

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03/05/19 by the Appl.icant Bank. The Appticant-Bank has retied upon the documents at Ex. A-1 to A-21 which were proved by Shri Btacius Toppo, Chief Manager.

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Despite service of notice, the Defendants neither appeared nor filed written statement. They were proceeded ex-parte vide order dated 03/07 /24. There is therefore, no reason to disbelieve the contentions of the Bank' considering the facts of the case, r opine that the Defendants are jointty and severatty tiabte to pay the ctaim amount together with interest and costs. The Appticant-Bank in its apptication has ctaimed interest @12.65% p.a. with monthty rest in term loan account and interest @13.20% p'a. with monthly rests in cash credit accounts. However, r feet it fair and reasonabte to grant interest @12% p.a. simpte in both the accounts pendentetite and future ti[[ realization of the dues. The mortgaged property is liabte to be sotd for recovery of amount due atong with the personal properties and assets of the Defendants.

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4 The OriginaI Apptication is altowed and it is ordered as under_

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i) The Defendants do pay jointty and severatty Rs.30,81,822.16 (Rupees Thirty Lakh, Eighty One Thousand, Eight Hundred Twenty Two and Paisa Sixteen on[y) together with pendentetite and future interest @12% per annum simpte from the date of fiting of the OA, i.e., 27/07/23, with costs t itI its realization.

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ii) The Appticant Bank is entitted to sett the mortgaged as wetl as personal properties and assets of the Defendants for reatization of its dues. The Defendants are hereby restrained by means of injunction from depleting, transferring, encumbering, alienating or in any way deating with the'ir properties/ assets without first paying the ctaim of the Appticant Bank.

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iii) A Recovery Certificate be issued uls 19(22) of Recovery of Debts and Bankruptcy Act. The appticant bank may fite a memo of cost within 7 days for preparing Recovery Cert.ificate.

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Judgment pronounced in the open court on this 1Oth Day of February, 2025.

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Ve
7'
\o
am Niwas Patet)
Presidine Officer

Bank of India v. Dhannu Pariwale

Case brief

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Bank of India v. Dhannu Pariwale

Case brief

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