Allowed

Hdfc Bank v. Shiv Bharti Sr Sec School

DRT20 Sept 2022OA/3/2022

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed the applicant bank's original application for recovery of Rs. 40,01,952 with future interest against defendants who failed to repay sanctioned credit facilities, holding them jointly and severally liable.

What did the court decide?

Defendants jointly and severally liable to pay Rs. 40,01,952 with 10% p.a. interest; bank entitled to recover by sale of hypothecated vehicles and to costs.

Hdfc Bank versus Shiv Bharti Sr Sec School — Banking and Recovery | DRT (2022)

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“ORIGINALAPPLICATION” No 03 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. 03 OF 2022

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DATE OF DELIVERY OF ORDER 20.09.2022

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HDFC BANK LIMITED

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Registered Office- HDFC Bank House, S.B. Marg, Lower Parel (West), Mumbai-400013 and Branch Office at 4^th Floor, Time Square Multiplex, 10, Central Spine, Vidhyadhar Nagar, Jaipur, Rajasthan – 302023, through its Authorized Signatory Sh. Indrajeet Singh

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…..Applicant Bank…..

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VERSUS

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1. Shiv Bharti Sr. Sec. School through its President, Jaishingh Yadav, Office at: VPO- Goverdhan Tehsil Kotputli, Jaipur, Rajasthan303108. (Pan No. AAEAS3390N)

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2. Jai Singh Yadav S/o Hazari Lal Yadav (President) R/o Dhari Gadasingh Wali Ward No. 1, Tehsil Kotputli, Jaipur, Rajasthan- 303106 (Pan No. AIZPY0328A)

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3. Shiv Bharti Public School Shiksha Samiti through its President, Mr. Jaishingh Yadav, Address- Tehsil Kotputli, Jaipur, Rajasthan- 303108

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……Defendants…..

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Counsel for the Applicant Bank Defendants are ex parte

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Shri Vineet Sharma

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JUDGMENT

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The Applicant Bank filed this O.A. on 07.12.2021, against the Defendants for the recovery of a sum of Rs.40,01,952/with pendentlite & future interest till payment or realization.

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

OA No. 03 of 2022

facilities of Rs. 34,80,342/- was sanctioned by the Applicant Bank in favour of Defendants. In order to secure the credit limit, Defendants hypothecated following commercial vehicles/commercial equipments:-

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Hypothecated Vehicles/Equipments	Registration No.
TATA LP 709	RJ32PA2788
TATA LP 709	RJ32PA2786

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Defendants also executed security documents in favour of Applicant Bank. 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 were proceeded ex-parte and their right to file reply was closed vide Order dt. 14.06.2022.

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As stated supra, the applicant bank filed the evidence affidavit coupled with the recitals in the documents, viz Exhibit AW/1 to AW/6 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 and 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. 03 of 2022 is allowed declaring that:-

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a) The Defendants are jointly and severally liable to pay to the applicant bank a sum of Rs. 40,01,952/(Rupees Forty Lakh One Thousand Nine Hundred and Fifty Two Only) with future interest @ 10% p.a. (Simple) from the Defendants from 07.12.2021 till the date of realization.

OA No. 03 of 2022

b) The applicant bank is entitled to recover the above amount by sale of hypothecated following commercial vehicles/commercial equipments:-

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Hypothecated Vehicles/Equipments	Registration No.
TATA LP 709	RJ32PA2788
TATA LP 709	RJ32PA2786

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

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

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Parties are directed to appear before the Recovery Officer, DRT, Jaipur on 20.12.2022 .

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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. 20.09.2022 .

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

OA No. 03 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. 03 OF 2022

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DATE OF DELIVERY OF ORDER 20.09.2022

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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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HDFC BANK LIMITED

…..Applicant Bank…..

VERSUS

1. Shiv Bharti Sr. Sec. School through its President, Jaishingh Yadav, Office at: VPO- Goverdhan Tehsil Kotputli, Jaipur, Rajasthan303108. (Pan No. AAEAS3390N)

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2. Jai Singh Yadav S/o Hazari Lal Yadav (President) R/o Dhari Gadasingh Wali Ward No. 1, Tehsil Kotputli, Jaipur, Rajasthan- 303106 (Pan No. AIZPY0328A)

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3. Shiv Bharti Public School Shiksha Samiti through its President, Mr. Jaishingh Yadav, Address- Tehsil Kotputli, Jaipur, Rajasthan- 303108

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……Defendants…..

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Recovery Certificate for Rs. 40,01,952/-

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In terms of final order dated 20.09.2022 passed by this Tribunal in the above mentioned case, it is ordered that the-

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a) The Defendants are jointly and severally liable to pay to the applicant bank a sum of Rs. 40,01,952/(Rupees Forty Lakh One Thousand Nine Hundred and Fifty Two Only) with future interest @ 10% p.a. (Simple) from the Defendants from 07.12.2021 till the date of realization.

OA No. 03 of 2022

b) The applicant bank is entitled to recover the above amount by sale of hypothecated following commercial

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vehicles/commercial equipments:-

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Hypothecated Vehicles/Equipments Registration No.

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TATA LP 709	RJ32PA2788
TATA LP 709	RJ32PA2786

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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 20.12.2022 .

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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 20.09.2022 .

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

OA No. 03 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. 03 OF 2022

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DATE OF DELIVERY OF ORDER 20.09.2022

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SCHEDULE TO RECOVERY CERTIFICATE MEMO OF COST

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HDFC BANK LIMITED

…..Applicant Bank…..

VERSUS

1. Shiv Bharti Sr. Sec. School through its President, Jaishingh Yadav, Office at: VPO- Goverdhan Tehsil Kotputli, Jaipur, Rajasthan303108. (Pan No. AAEAS3390N)

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2. Jai Singh Yadav S/o Hazari Lal Yadav (President) R/o Dhari Gadasingh Wali Ward No. 1, Tehsil Kotputli, Jaipur, Rajasthan- 303106 (Pan No. AIZPY0328A)

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3. Shiv Bharti Public School Shiksha Samiti through its President, Mr. Jaishingh Yadav, Address- Tehsil Kotputli, Jaipur, Rajasthan- 303108

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……Defendants…..

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S.No.	Item of Costs	Amount (Rs.)
1	Fee on the Application	43,000.00
2	Process Fee (Inc. Publication)	117.00
3	Advocate Fee	1,250.00
4	Commission/Receiver/Valuation	NIL
5.	Miscellaneous Charges	NIL
	Total	44,367.00

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Presiding Officer, Debts Recovery Tribunal, Jaipur

OA No. 03 of 2022

20.09.2022

Counsel:

Sh. VINEET SHARMA, 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 prepared 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. 03 of 2022

20.09.2022

Counsel:

Sh.VINEET SHARMA, Counsel for the Applicant Bank Defendants are ex-parte

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The Tribunal vide order dated 20.09.2022 , 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 20.09.2022 verified the Recovery Certificate as per Regulation 24(1) and (2) of Debts Recovery Tribunal Jaipur Regulation 2015. Recovery Certificate is prepared 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. 03 of 2022

DEBTS RECOVERY TRIBUNAL, JAIPUR

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ORIGINAL APPLICATION NO. 03 of 2022

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The Recovery Certificate prepared in compliance of order dated 20.09.2022 passed by Hon’ble Presiding Officer, DRT, Jaipur in Original Application No. 03 of 2022 Title- HDFC BANK LIMITED VS SHIV BHARTI SR. SEC SCHOOL 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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Hon’ble Presiding Officer

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Hdfc Bank v. Shiv Bharti Sr Sec School

Case brief

What is this about?

What did the court decide?

Hdfc Bank v. Shiv Bharti Sr Sec School

Case brief

What is this about?

What did the court decide?

What the court decided

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Issues for consideration

Statutes considered

Parties & counsel

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Case details

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