Allowed

Canara Bank v. M S Bajrang Packers

DRT13 Dec 2022OA/177/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal, Jaipur allowed an original application filed by Canara Bank for recovery of dues classified as NPA from respondents. The court held respondents jointly and severally liable to pay Rs. 39,83,205.64 with future interest and costs.

What did the court decide?

Relief granted: Defendants jointly and severally liable to pay Rs. 39,83,205.64 with interest and costs. Recovery Certificate issued for recovery via sale of hypothecated and personal assets.

Canara Bank versus M S Bajrang Packers — Execution and Attachment | DRT (2022)

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“ORIGINALAPPLICATION” No. 177 of 2022

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BEFORE THE DEBTS RECOVERY TRIBUNAL, JAIPUR PRESENT- SHRI VIVEK SAXENA

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PRESIDING OFFICER

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O.A. NO. 177 OF 2022

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DATE OF DELIVERY OF ORDER 13.12.2022

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CANARA BANK

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Branch Office : 7-B, Ravindra Path,

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Sri Ganganagar through its Authorized Signatory

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…..Applicant Bank…..

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VERSUS

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1. M/S BAJRANG PACKERS

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A Partnership Firm through its Partner

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F-347, Phase II, Udyog Vihar, Sri Ganganagar

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2. MOHIT KUMAR BANSAL

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S/o Sh. Vinay Kumar Bansal,

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Resident of 13, Pooja Colony/Ratan Colony,

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Ward No. 34, Sri Ganganagar.

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3. MS KIRTI RANI BANSAL

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W/o Sh. Mohit Kumar Bansal, Resident of 13, Pooja Colony/Ratan Colony, Ward No. 34, Sri Ganganagar

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……Defendants…..

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Counsel for the Applicant Bank Shri Raj Kumar Defendants Ex-Parte

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JUDGMENT

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This Original Application was filed by Applicant Bank against Defendants on 24.12.2021 for recovery of an amount of Rs. 39,83,205.64 with pendentlite and future interest and cost.

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As per O.A., Defendants approached the Applicant Bank for financial assistance. After due consideration, credit

OA No. 177 of 2022

facility was sanctioned by the Applicant Bank in favour of Defendants. Defendants failed to maintain financial discipline and therefore, their loan account was classified as NPA. Applicant Bank has therefore, filed this original application for recovery of its dues against the Defendants.

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Defendants are proceeded ex parte on 19.09.2022.

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As stated supra, the Applicant Bank filed the evidence affidavit coupled with the recitals in the documents, viz Exhibit A/1 to A/25 marked on behalf of the applicant bank, clinches the claim of the applicant bank against the Defendants. Hence, I hold that the Defendants are jointly & severally liable to pay to the applicant bank the claim made in O.A. with future interest and costs.

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In the result, this O.A. No. 177 of 2022 is allowed declaring that:-

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a) The Defendants are jointly & severally liable to pay to the applicant bank a sum of Rs. 39,83,205.64 (Rupees Thirty Nine Lac Eighty Three Thousand Two Hundred Five and Sixty Four Paisa Only) with future interest @ 10.70% p.a. (Simple) from 24.12.2021 till the date of realization.

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b) The applicant bank is entitled to recover the above amount by sale of hypothecated vehicle – hypothecated machineries, hypothecated goods, raw materials, finished & semi finished goods, etc. as well as from the personal movable and immovable properties/assets of Defendants. The applicant bank is entitled to proceed against the same towards recovery of its debt.

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c) The applicant bank is entitled to the costs of the O.A.

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1. The recovery certificate be issued forthwith and be sent to the Recovery Officer, DRT, Jaipur.

OA No. 177 of 2022

Parties is directed to appear before the Recovery Officer, DRT, Jaipur on 13.03.2023 .

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8.. Prepare Recovery Certificate accordingly.

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A copy of the Judgment and Recovery Certificate be given or sent by registered post to each of the parties free. A copy of the Recovery Certificate be sent to the Recovery Officer of this Tribunal for necessary action as per the law.

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(Vivek Saxena) Presiding Officer, Debts Recovery Tribunal, Jaipur

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Order pronounced in the open court today i.e. 13.12.2022 .

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(Vivek Saxena) Presiding Officer, Debts Recovery Tribunal, Jaipur

OA No. 177 of 2022

BEFORE THE DEBTS RECOVERY TRIBUNAL, JAIPUR PRESENT- SHRI VIVEK SAXENA

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PRESIDING OFFICER

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O.A. NO. 177 OF 2022

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DATE OF DELIVERY OF ORDER 13.12.2022

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RECOVERY CERTIFICATE

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(UNDER SUB Section 22 of the Recovery of Debts due to Banks and Financial Institutions Act, 1993 (Act 51 of 1993)

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CANARA BANK

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Branch Office : 7-B, Ravindra Path,

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Sri Ganganagar through its Authorized Signatory

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…..Applicant Bank…..

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VERSUS

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1. M/S BAJRANG PACKERS

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A Partnership Firm through its Partner

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F-347, Phase II, Udyog Vihar, Sri Ganganagar

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2. MOHIT KUMAR BANSAL

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S/o Sh. Vinay Kumar Bansal, Resident of 13, Pooja Colony/Ratan Colony, Ward No. 34, Sri Ganganagar.

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3. MS KIRTI RANI BANSAL

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W/o Sh. Mohit Kumar Bansal, Resident of 13, Pooja Colony/Ratan Colony, Ward No. 34, Sri Ganganagar

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……Defendants…..

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Recovery Certificate for Rs. 39,83,205.64

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In terms of final order dated 13.12.2022 passed by this Tribunal in the above mentioned case, it is ordered that the-

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a) The Defendants are jointly & severally liable to pay to the applicant bank a sum of Rs. 39,83,205.14 (Rupees Thirty Nine Lac Eighty Three Thousand Two Hundred Five and Sixty Four Paisa Only) with future interest @ 10.70% p.a. (Simple) from 24.12.2021 till the date of realization.

OA No. 177 of 2022

b) The applicant bank is entitled to recover the above amount by sale of hypothecated vehicle – hypothecated machineries, hypothecated goods, raw materials, finished & semi finished goods, etc. as well as from the personal movable and immovable properties/assets of Defendants. The applicant bank is entitled to proceed against the same towards recovery of its debt.

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c) The applicant bank is entitled to the costs of the O.A.

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Parties are directed to appear before the Recovery Officer, DRT, Jaipur on 13.03.2023 .

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The Recovery Officer shall realize the amount as per this Certificate in the manner and mode prescribed under Section 25 and 28 of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 (as amended from time to time) from the above named Certificate Debtor.

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This Certificate has been issued under my signatures and seal of the Tribunal on this 13.12.2022 .

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(Vivek Saxena) Presiding Officer, Debts Recovery Tribunal, Jaipur

OA No. 177 of 2022

BEFORE THE DEBTS RECOVERY TRIBUNAL, JAIPUR PRESENT- SHRI VIVEK SAXENA

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PRESIDING OFFICER

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O.A. NO. 177 OF 2022

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DATE OF DELIVERY OF ORDER 13.12.2022

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SCHEDULE TO RECOVERY CERTIFICATE

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MEMO OF COST

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CANARA BANK

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Branch Office : 7-B, Ravindra Path,

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Sri Ganganagar through its Authorized Signatory

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…..Applicant Bank…..

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VERSUS

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1. M/S BAJRANG PACKERS

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A Partnership Firm through its Partner

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F-347, Phase II, Udyog Vihar, Sri Ganganagar

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2. MOHIT KUMAR BANSAL

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S/o Sh. Vinay Kumar Bansal, Resident of 13, Pooja Colony/Ratan Colony,

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Ward No. 34, Sri Ganganagar.

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3. MS KIRTI RANI BANSAL W/o Sh. Mohit Kumar Bansal, Resident of 13, Pooja Colony/Ratan Colony, Ward No. 34, Sri Ganganagar

……Defendants…..

OA No. 177 of 2022

S.No.	Item of Costs	Amount (Rs.)
1	Fee on the Application	42,000.00
2	Process Fee (Inc. Publication)	331.00
3	Advocate Fee	1,250.00
4	Commission/Receiver/Valuation	NIL
5.	Miscellaneous Charges	NIL
	Total	43,581.00

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Presiding Officer, Debts Recovery Tribunal, Jaipur

OA No. 177 of 2022

13.12.2022

Counsel:

Sh. RAJ KUMAR, Counsel for the Applicant Bank Defendants are ex-parte

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Judgment dictated separately and pronounced in the open court. As per order the O.A. is allowed. Recovery Certificate be prepisd accordingly and the Registry is directed to verify the Recovery Certificate as per Regulation 24(1) and (2) of Debts Recovery Tribunal Jaipur Regulation 2015 and after verification place the same before the Tribunal.

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(Vivek Saxena) Presiding Officer, Debts Recovery Tribunal, Jaipur

OA No. 177 of 2022

13.12.2022

Counsel:

Sh. RAJ KUMAR, Counsel for the Applicant Bank Defendants are ex-parte

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The Tribunal vide order dated 13.12.2022 , directed the Registrar to verify the Recovery Certificate as per Regulation 24(1) and (2) of Debts Recovery Tribunal Jaipur Regulation 2015.

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The Registrar vide order dated 13.12.2022 verified the Recovery Certificate as per Regulation 24(1) and (2) of Debts Recovery Tribunal Jaipur Regulation 2015. Recovery Certificate is prepisd accordingly. Copy of the Judgment and Recovery Certificate be given free to the concerned parties as well as be sent to the Recovery Officer for further proceedings. File be put up before the Registrar for compliance. After compliance file be consigned to record.

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Presiding Officer, Debts Recovery Tribunal, Jaipur

OA No. 177 of 2022

DEBTS RECOVERY TRIBUNAL, JAIPUR

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ORIGINAL APPLICATION NO. 177 of 2022

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The Recovery Certificate prepisd in compliance of order dated 13.12.2022 passed by Hon’ble Presiding Officer, DRT, Jaipur in Original Application No. 177 of 2022 Title Canara Bank Vs M/s Bajrang Packers & Ors. has been checked and may be verified.

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Section Officer

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Assistant Registrar

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On the basis of the report of Section Officer the Recovery Certificate is verified. The Recovery Certificate is placed below for the signature of Hon’ble Presiding Officer please.

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Assistant Registrar

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Canara Bank v. M S Bajrang Packers

Case brief

What is this about?

What did the court decide?

Canara Bank v. M S Bajrang Packers

Case brief

What is this about?

What did the court decide?

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