Allowed

Bank of India v. Chandrahas Pawar

DRT24 Apr 2025OA/1599/2023

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an application filed by Bank of India for recovery of outstanding dues of Rs.34,68,207/- along with future interest. The defendant did not appear, leading to an ex-parte order permitting the bank to recover dues and sell the mortgaged property.

What did the court decide?

Defendant directed to pay Rs.34,68,207/- plus 9% per annum future interest; autorisé to sell mortgaged property; Recovery Certificate issued.

Bank of India versus Chandrahas Pawar — Banking and Recovery | DRT (2025)

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Presented on .. 21.04.2023 Registered on .. 29.11.2023 Decided on .. 24.04.2025 Duration .. Y—M—D 02--00--03

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IN THE DEBTS RECOVERY TRIBUNAL AT PUNE (Before Shri Dilip G. Murumkar, Presiding Officer) ORIGINAL APPLICATION No. 1599/2023.

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Bank of India,

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A Body Corporate constituted under the Banking Companies (Acquisition & Transfer of Undertakings) Act, 1970 and having its head office at Star House, C-5, G Block, BandraKurla Complex, Bandra (East), Mumbai 400051 and branch at – N.G. Abdulpurkar Complex, Neela Nagar, Samrat Chowk, Solapur 413 002.

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… Applicant

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Versus

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Mr. Chandrahas Maruti Pawar, Age 46 years, Occ. Business, Address – [1] A/P Gulwanchi, Post Karamba, Block No.1, Dnyandeep Housing Society, Civil Lines, Taluka North Solapur, Solapur 413 222.

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[2] Flat No. 15, 3^rd floor, Building No.1, Ishwari Apartment, Old C.T.S. No. 360, New C.T.S. No. 32/A/2F, Nehru Nagar, Vijapur Road, North Solapur 413 004.

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… Defendant

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Sanap ( OA No. 1599/2023 ) 1 of 5

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:- Appearances For Applicant For Defendant

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Advocate S.S. Irani. Ex parte.

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Total Claim Amount – Rs.34,68,207/-

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JUDGEMNT

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(Delivered on 24^th April, 2025)

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The Applicant Bank has filed the present application for recovery of the sum of Rs.34,68,207/- together with future interest @9.10% per annum from the date of Application till realization of the entire dues from the defendant.

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Brief facts of the application are as under :-

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As per the loan application dated 07.03.2015 of the defendant for grant of Housing Loan facility for purchase of flat, the applicant Bank sanctioned and disbursed the Housing loan facility of Rs.20,00,000/- to the defendant vide Sanction Letter dated 07.03.2015.

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In order to secure the aforesaid loan facility, the defendant executed loan and necessary security documents in favour of the applicant Bank. The defendant has also executed deed of mortgage of Flat No. 15, admeasuring 60.63 sq. meters, 3^rd floor, Building No.1, Ishwari Apartment, Old C.T.S. No. 360, New

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Sanap ( OA No. 1599/2023 ) 2 of 5

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C.T.S. No. 32/A/2F, Nehru Nagar, Vijapur Road, North Solapur, in favour of the applicant Bank. The defendant has also executed Letters of Acknowledgment of Debt/Securities on 22.02.2018 and 15.02.2021 and thereby confirmed the balance outstanding in loan account.

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The applicant Bank contended that the defendant committed defaults in payment of installments and failed to regularize the accounts. Hence, on 31.12.2015, the applicant Bank has classified the account of the defendant as Non Performing Asset in accordance with guidelines of Reserve Bank of India. Therefore, on 24.03.2023, the applicant Bank issued legal Notice to the defendant. Despite service of Notice, the defendant failed and neglected to pay the outstanding dues of the applicant Bank.

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Hence, this application is filed.

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The defendant failed to appear despite service of summons. Hence, the application proceeded ex-parte against the defendant as per Order dated 11.02.2025 passed below Application (Exhibit-1).

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The applicant Bank has filed Claim Affidavit of evidence (Exhibit-6) of Mr. Birendra Kumar Yadav, Chief Manager and Branch Manager of the applicant Bank,

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Sanap ( OA No. 1599/2023 ) 3 of 5

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and has produced on record the original loan transaction documents at Sr. Nos. AW-1 to AW-20 along with list (Exhibit 9), which corroborates 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 defendant failed to appear and contest the application, I find no reason to disbelieve evidence of the applicant Bank. Therefore, the applicant Bank is entitled for reliefs as claimed.

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The applicant Bank has claimed future interest @9.10% per annum. However, considering the facts of the case, I am of the opinion that if future interest is granted @9% per annum (simple), it would be just and reasonable rate of interest.

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Hence, I pass the following order.

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O R D E R

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A} Original Application No.1599/2023 is allowed with costs.

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B} The defendant shall pay to the applicant Bank the sum of Rs.34,68,207/- (Rupees Thirty Four Lakhs Sixty Eight Thousand Two Hundred Seven only) along with future interest @9% per annum from the date of filing of the

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Sanap ( OA No. 1599/2023 ) 4 of 5

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Original Application i.e. 21.04.2023 till full 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 Flat No. 15, admeasuring 60.63 sq. meters, 3^rd floor, Building No.1, Ishwari Apartment, Old C.T.S. No. 360, New C.T.S. No. 32/A/2F, Nehru Nagar, Vijapur Road, North Solapur, more particularly described in the Para No. 5.6 and Schedule of the Original Application.

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D} The applicant Bank is entitled to sell the mortgaged property 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 and defendant.

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Sd/( Dilip G. Murumkar ) Place : Pune Presiding Officer Date : 24.04.2025 Debts Recovery Tribunal, Pune.

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Sanap ( OA No. 1599/2023 ) 5 of 5

Bank of India v. Chandrahas Pawar

Case brief

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Bank of India v. Chandrahas Pawar

Case brief

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