State Bank of India v. M/S Amit Agencies

CAMP COURT AT BHOPAL

Misc. Application Dy. No. 272/2022 Date: 14.06.2022

State Bank of India Vs. M/s Amit Agencies

Present: Shri Sandeep Arora, counsel for the applicant,

The present application has been filed by the applicant under section 17-A of the RDB Act, 1993 with prayer for direction to the Presiding Officer, DRT, Allahabad to consider and decide the O.A. No. 958/2019 within the time as fixed by this Appellate Tribunal.

It is contended that the appellant-Bank has filed a recovery suit under section 19 of the RDB Act, 1993, which was numbered as O.A. 958/2019, with prayer for issuance of recovery certificate of Rs. 2,24,96,728.72 with pendentlite and future interest @ 9.5% with monthly rests w.e.f. 19.06.2019 along with costs and expenses against the respondents jointly and severely.

It is further contended that the Presiding Officer, DRT, Allahabad had issued summons to the respondents vide order dated 05.07.2019 and thereafter, they appeared and filed their written statement to the application filed under section 19 of the RDB Act, 1993, but no effective hearing took place thereafter. It is also contended that the Presiding Officer, DRT, Allahabad vide order dated 16.10.2020 had directed the respondents to show cause, as to why they should not furnish the security to the extent of unsecured debt of the applicant alongwith interest as on date and restrained the defendants from changing the nature of the property, but the defendants opted not to appear and furnish any security to the extent of unsecured debt of the appellant-Bank on 03.11.2020, which was next date fixed. In the last, it is contended that no