Allowed

Icici Bank Limited v. Rais Khan

DRT13 Dec 2022OA/325/2022

Case brief

AI extract

What is this about?

DRT allowed Original Application filed by ICICI Bank against two defendants for recovery of loan dues. Court held defendants jointly liable for Rs. 29 lakhs with interest and ordered issuance of recovery certificate for realization of debt from movable and immovable properties.

What did the court decide?

Defendants declared jointly liable to pay Rs. 29,08,608/- with interest; recovery certificate issued for sale of hypothecated vehicle and personal assets.

Icici Bank Limited versus Rais Khan — Banking and Recovery | DRT (2022)

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“ORIGINALAPPLICATION” No. 325 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. 325 OF 2022

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DATE OF DELIVERY OF ORDER 13.12.2022

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ICICI BANK LTD.

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Regional Office : JSEL Building, JLN Marg, Malviya Nagar, Jaipur - 302017

…..Applicant Bank…..

VERSUS

1. RAIS KHAN

S/o Sh. Rehman Khan,

Ward No. 129, Gagron Road, Jhalawar – 326001

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2. MRS. FARANAJ S/o Sh. Rais Khan, 282-A, Gagron Road, Jhalawar – 326001

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……Defendants…..

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Counsel for the Applicant Bank Shri Deepak Sarawagi Defendants Ex-Parte

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JUDGMENT

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This Original Application was filed by Applicant Bank against Defendants on 10.01.2022 for recovery of an amount of Rs. 29,08,608/- 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 facility was sanctioned by the Applicant Bank in favour of Defendants. Defendants failed to maintain financial

OA No. 325 of 2022

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/9 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. 325 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. 29,08,608/- (Rupees Twenty Nine Lac Eight Thousand Six Hundred Eight Only) with future interest @ 10.80% p.a. (Simple) from 10.01.2022 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 – Tata Lpt 3118 Tcic, Reg. No. – RJ17-GA-7386, Tata 3118, BODY 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.

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

OA No. 325 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 Order pronounced in the open court today i.e. 13.12.2022 . (Vivek Saxena) Presiding Officer, Debts Recovery Tribunal, Jaipur

OA No. 325 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. 325 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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ICICI BANK LTD.

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Regional Office : JSEL Building,

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JLN Marg, Malviya Nagar, Jaipur - 302017

…..Applicant Bank…..

VERSUS

1. RAIS KHAN

S/o Sh. Rehman khan,

Ward No. 129, Gagron Road, Jhalawar – 326001

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2. MRS. FARANAJ

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S/o Sh. Rais khan,

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282-A, Gagron Road, Jhalawar – 326001

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……Defendants…..

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Recovery Certificate for Rs. 29,08,608/-

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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. 29,08,608/- (Rupees Twenty Nine Lac Eight Thousand Six Hundred Eight Only) with future interest @ 10.80% p.a. (Simple) from 10.01.2022 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 – Tata Lpt

OA No. 325 of 2022

3118 Tcic, Reg. No. – RJ17-GA-7386, Tata 3118, BODY 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. 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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Presiding Officer, Debts Recovery Tribunal, Jaipur

OA No. 325 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. 325 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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ICICI BANK LTD.

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Regional Office : JSEL Building,

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JLN Marg, Malviya Nagar, Jaipur - 302017

…..Applicant Bank…..

VERSUS

1. RAIS KHAN

S/o Sh. Rehman khan, Ward No. 129, Gagron Road, Jhalawar – 326001

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2. MRS. FARANAJ

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S/o Sh. Rais khan, 282-A, Gagron Road, Jhalawar – 326001

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……Defendants…..

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S.No.	Item of Costs	Amount (Rs.)
1	Fee on the Application	32,000.00
2	Process Fee (Inc. Publication)	78.00
3	Advocate Fee	1,250.00
4	Commission/Receiver/Valuation	NIL
5.	Miscellaneous Charges	NIL
	Total	33,328.00

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Presiding Officer, Debts Recovery Tribunal, Jaipur

OA No. 325 of 2022

13.12.2022

Counsel:

Sh. DEEPAK SARAWAGI, 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. 325 of 2022

13.12.2022

Counsel:

Sh. DEEPAK SARAWAGI, 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. 325 of 2022

DEBTS RECOVERY TRIBUNAL, JAIPUR

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ORIGINAL APPLICATION NO. 325 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. 325 of 2022 Title ICICI Bank Ltd. Vs Rais Khan & Anr. 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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Icici Bank Limited v. Rais Khan

Case brief

What is this about?

What did the court decide?

Icici Bank Limited v. Rais Khan

Case brief

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What did the court decide?

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