Allowed

Uco Bank v. Umesh Kumar Yadav

DRT17 Nov 2022OA/373/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the bank's recovery application against defendants who failed to maintain loan discipline. The Court declared joint liability, ordered recovery via sale of hypothecated vehicles and other assets, and issued a recovery certificate with future interest and costs. Defendants appeared ex-parte.

What did the court decide?

Joint and several liability to pay Rs. 35,04,064/- with 9% p.a. interest; right to recover via sale of hypothecated vehicles and other assets; recovery certificate issued.

Uco Bank versus Umesh Kumar Yadav — Banking and Recovery | DRT (2022)

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“ORIGINALAPPLICATION” No. 373 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. 373 OF 2022

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DATE OF DELIVERY OF ORDER 17.11.2022

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UCO BANK

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Branch Office at Khatipura Road, Jaipur (Rajasthan)

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…..Applicant Bank…..

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VERSUS

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1. UMESH KUMAR YADAV

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S/o Sh. Mohan Lal Yadav

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R/o Sudarpura Sudarpura, Dhadha, Kotputli, Jaipur303107.

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2. KAVITA DEVI

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W/o Umesh Kumar Yadav

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R/o Sudarpura Sudarpura, Dhadha, Kotputli, Jaipur303107.

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3. M/S SREI EQUIPMENT FINANCE LTD.

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through its Manager/Authorized Signatory having its Registered Office at : “Vishwakarma” 86 C, Topsia Road (South) Kolkata – 700001.

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ALSO AT

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Head Office : Plot No. Y-10, Block EP, Sector V, Salt Lake City, Kolkata - 700091

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……Defendants…..

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Counsel for the Applicant Bank

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Shri Vijendra Kumar

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Defendants Ex-Parte

JUDGMENT

OA No. 373 of 2022

This Original Application was filed by Applicant Bank against Defendants on 24.03.2022 for recovery of an amount of Rs. 35,04,064/- 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 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 02.08.2022.

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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/27 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

¶32

In the result, this O.A. No. 373 of 2022 is allowed declaring that:-

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a) The Defendants No. 1 to 3 are jointly & severally liable to pay to the applicant bank a sum of Rs. 35,04,064/- (Rupees Thirty Five Lac Four Thousand Sixty Four Only) with future interes (Simple) @ 9.00% p.a. given as under from 24.03.2022 till the date of realization.

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b) The applicant bank is entitled to recover the above amount by sale of hypothecated vehicles – Hyundai Hydraulic Excavator R215 Machine/vehicle with serial No. N640D00129 and Engine no. 84925338 AND Hyundai Rock Breaker HDB 215 Machine/vehicle with pipeline and return Line Filter serial No. 1335 as well as from the personal movable

OA No. 373 of 2022

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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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 17.02.2023 .

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

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Order pronounced in the open court today i.e. 17.11.2022 .

OA No. 373 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. 373 OF 2022

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DATE OF DELIVERY OF ORDER 17.11.2022

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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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UCO BANK

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Branch Office at Khatipura Road, Jaipur (Rajasthan)

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…..Applicant Bank…..

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VERSUS

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1. UMESH KUMAR YADAV

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S/o Sh. Mohan Lal Yadav

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R/o Sudarpura Sudarpura, Dhadha, Kotputli, Jaipur303107.

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2. KAVITA DEVI

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W/o Umesh Kumar Yadav

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R/o Sudarpura Sudarpura, Dhadha, Kotputli, Jaipur303107.

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3. M/S SREI EQUIPMENT FINANCE LTD.

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through its Manager/Authorized Signatory having its Registered Office at : “Vishwakarma” 86 C, Topsia Road (South) Kolkata – 700001.

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ALSO AT

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Head Office : Plot No. Y-10, Block EP, Sector V, Salt Lake City, Kolkata - 700091

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……Defendants…..

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Recovery Certificate for Rs. 35,04,064/-

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In terms of final order dated 17.11.2022 passed by this Tribunal in the above mentioned case, it is ordered that the-

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a) The Defendants No. 1 to 3 are jointly & severally liable to pay to the applicant bank a sum of Rs.

OA No. 373 of 2022

35,04,064/- (Rupees Thirty Five Lac Four Thousand Sixty Four Only) with future interes (Simple) @ 9.00% p.a. given as under from 24.03.2022 till the date of realization.

¶77

b) The applicant bank is entitled to recover the above amount by sale of hypothecated vehicles – Hyundai Hydraulic Excavator R215 Machine/vehicle with serial No. N640D00129 and Engine no. 84925338 AND Hyundai Rock Breaker HDB 215 Machine/vehicle with pipeline and return Line Filter serial No. 1335 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 is directed to appear before the Recovery Officer, DRT, Jaipur on 17.02.2023 .

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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 17.11.2022 .

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

OA No. 373 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. 373 OF 2022

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DATE OF DELIVERY OF ORDER 17.11.2022

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SCHEDULE TO RECOVERY CERTIFICATE

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MEMO OF COST

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UCO BANK

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Branch Office at Khatipura Road, Jaipur (Rajasthan)

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…..Applicant Bank…..

¶94

VERSUS

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1. UMESH KUMAR YADAV

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S/o Sh. Mohan Lal Yadav

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R/o Sudarpura Sudarpura, Dhadha, Kotputli, Jaipur303107.

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2. KAVITA DEVI

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W/o Umesh Kumar Yadav

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R/o Sudarpura Sudarpura, Dhadha, Kotputli, Jaipur303107.

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3. M/S SREI EQUIPMENT FINANCE LTD.

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through its Manager/Authorized Signatory having its Registered Office at : “Vishwakarma” 86 C, Topsia Road (South) Kolkata – 700001.

¶103

ALSO AT

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Head Office : Plot No. Y-10, Block EP, Sector V, Salt Lake City, Kolkata - 700091

……Defendants…..

OA No. 373 of 2022

S.No.	Item of Costs	Amount (Rs.)
1	Fee on the Application	38,000.00
2	Process Fee (Inc. Publication)	341
3	Advocate Fee	1,250.00
4	Commission/Receiver/Valuation	NIL
5.	Miscellaneous Charges	NIL
	Total	39,591.00

¶110

Presiding Officer, Debts Recovery Tribunal, Jaipur

OA No. 373 of 2022

17.11.2022

Counsel:

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

¶117

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.

¶118

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

OA No. 373 of 2022

17.11.2022

Counsel:

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

¶125

The Tribunal vide order dated 17.11.2022 , directed the Registrar to verify the Recovery Certificate as per Regulation 24(1) and (2) of Debts Recovery Tribunal Jaipur Regulation 2015.

¶126

The Registrar vide order dated 17.11.2022 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. 373 of 2022

DEBTS RECOVERY TRIBUNAL, JAIPUR

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ORIGINAL APPLICATION NO. 373 of 2022

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The Recovery Certificate prepisd in compliance of order dated 17.11.2022 passed by Hon’ble Presiding Officer, DRT, Jaipur in Original Application No. 373 of 2022 Title UCO Bank Vs Umesh Kumar Yadav & 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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Hon’ble Presiding Officer

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Uco Bank v. Umesh Kumar Yadav

Case brief

What is this about?

What did the court decide?

Uco Bank v. Umesh Kumar Yadav

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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