Allowed

State Bank of India v. Sh Shakti Singh

DRT19 Nov 2022OA/27/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the bank's original application for recovery of Rs. 35,73,113 with future interest and costs against the defendant who appeared ex-parte, directing recovery through sale of mortgaged and hypothecated assets.

What did the court decide?

Recovery certificate issued for Rs. 35,73,113 with future interest @ 10.60% p.a., recoverable from hypothecated crops, mortgaged agricultural land, and personal assets of the defendant.

State Bank of India versus Sh Shakti Singh — Banking and Recovery | DRT (2022)

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“ORIGINALAPPLICATION” No. 27 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. 27 OF 2022

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DATE OF DELIVERY OF ORDER 19 .11.2022

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STATE BANK OF INDIA

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Branch Office 3^RD Floor, Matrix Mall, Sector-4, Jawaharnagar, Jaipur -302004

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…..Applicant Bank…..

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VERSUS

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SHRI SHAKTI SINGH

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S/o Sh. Jog Singh Rajput

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R/o Village Khetolai Burj, Tehsil – Kolayat, Distt. Bikaner (Raj.) 335 701

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……Defendant…..

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Counsel for the Applicant Bank Shri Jayant Vaze Defendant Ex-Parte

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JUDGMENT

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This Original Application was filed by Applicant Bank against Defendant on 26.11.2021 for recovery of an amount of Rs. 35,73,113/-- with pendentlite and future interest and cost.

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As per O.A., Defendant approached the Applicant Bank for financial assistance. After due consideration, credit facility was sanctioned by the Applicant Bank in favour of Defendant. Defendant failed to maintain financial discipline and therefore, their loan account was classified as

OA No. 27 of 2022

NPA. Applicant Bank has therefore, filed this original application for recovery of its dues against the Defendant.

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Defendant are proceeded ex parte on 21.07.2022.

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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 Defendant. Hence, I hold that the Defendant is 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. 27 of 2022 is allowed declaring that:-

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a) The Defendant is liable to pay to the applicant bank a sum of Rs. 35,73,113/-- (Rupees Thirty Five Lac Seventy Three Thousand One Hundred Thirteen Only) with future interest @ 10.60% p.a. (Simple) from 26.11.2021 till the date of realization.

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b) The applicant bank is entitled to recover the above amount by sale of hypothecated crop & assets and mortgaged property – Agricultural Land at Khasra No. 262, 273, 282, 326, 327 & 307 area admeasuring total land 9.88 Hectare at Khetolia Burja, Tehsil – Kolayat, District – Bikaner (Raj.) as well as from the personal movable and immovable properties/assets of Defendant. 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.

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Parties is directed to appear before the Recovery Officer, DRT, Jaipur on 20.02.2023 .

OA No. 27 of 2022

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. 19 .11.2022 .

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

OA No. 27 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. 27 OF 2022

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DATE OF DELIVERY OF ORDER 19 .11.2022

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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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STATE BANK OF INDIA

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Branch Office 3^RD Floor, Matrix Mall, Sector-4, Jawaharnagar, Jaipur -302004

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…..Applicant Bank…..

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VERSUS

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SHRI SHAKTI SINGH

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S/o Sh. Jog Singh Rajput

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R/o Village Khetolai Burj, Tehsil – Kolayat, Distt. Bikaner (Raj.) 335 701

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……Defendant…..

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Recovery Certificate for Rs. 35,73,113/--

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In terms of final order dated 19.11.2022 passed by this Tribunal in the above mentioned case, it is ordered that the-

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a) The Defendant is liable to pay to the applicant bank a sum of Rs. 35,73,113/-- (Rupees Thirty Five Lac Seventy Three Thousand One Hundred Thirteen Only) with future interest @ 10.60% p.a. (Simple) from 26.11.2021 till the date of realization.

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b) The applicant bank is entitled to recover the above amount by sale of hypothecated crop & assets and mortgaged property – Agricultural Land at Khasra No. 262, 273, 282, 326, 327 & 307 area admeasuring total land 9.88 Hectare at Khetolia Burja, Tehsil –

OA No. 27 of 2022

Kolayat, District – Bikaner (Raj.) as well as from the personal movable and immovable properties/assets of Defendant. 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. Parties is directed to appear before the Recovery Officer, DRT, Jaipur on 20.02.2023 .

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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 19.11.2022 .

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

OA No. 27 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. 27 OF 2022

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DATE OF DELIVERY OF ORDER 19 .11.2022

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SCHEDULE TO RECOVERY CERTIFICATE

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MEMO OF COST

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STATE BANK OF INDIA

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Branch Office 3^RD Floor, Matrix Mall, Sector-4, Jawaharnagar, Jaipur -302004

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…..Applicant Bank…..

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VERSUS

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SHRI SHAKTI SINGH

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S/o Sh. Jog Singh Rajput

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R/o Village Khetolai Burj, Tehsil – Kolayat, Distt. Bikaner (Raj.) 335 701

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……Defendant…..

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S.No.	Item of Costs	Amount (Rs.)
1	Fee on the Application	38,000.00
2	Process Fee (Inc. Publication)	39.00
3	Advocate Fee	1,250.00
4	Commission/Receiver/Valuation	NIL
5.	Miscellaneous Charges	NIL
	Total	39,289.00

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Presiding Officer, Debts Recovery Tribunal, Jaipur

OA No. 27 of 2022

19 .11.2022

Counsel:

Sh. JAYANT VAZE, Counsel for the Applicant Bank Defendant is 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. 27 of 2022

19 .11.2022

Counsel:

Sh. JAYANT VAZE, Counsel for the Applicant Bank Defendant is ex-parte

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The Tribunal vide order dated 19.11.2022 , 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 19.11.2022 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. 27 of 2022

DEBTS RECOVERY TRIBUNAL, JAIPUR

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ORIGINAL APPLICATION NO. 27 of 2022

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The Recovery Certificate prepisd in compliance of order dated 19.11.2022 passed by Hon’ble Presiding Officer, DRT, Jaipur in Original Application No. 27 of 2022 Title State Bank of India Vs Sh. Shakti Singh 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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State Bank of India v. Sh Shakti Singh

Case brief

What is this about?

What did the court decide?

State Bank of India v. Sh Shakti Singh

Case brief

What is this about?

What did the court decide?

What the court decided

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