Allowed

Punjab National Bank v. Mr Ashish Gupta

DRT14 Dec 2022OA/377/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the bank's application for recovery of Rs. 53,28,141.85 along with interest and costs. The bank was directed to recover the amount by sale of mortgaged flats and personal assets of the jointly and severally liable defendants.

What did the court decide?

The respondent defendants are jointly and severally liable to pay the applicant bank Rs. 53,28,141.85 with future interest and costs, recoverable via sale of mortgaged properties and personal assets.

Punjab National Bank versus Mr Ashish Gupta — Banking and Recovery | DRT (2022)

¶1

“ORIGINALAPPLICATION” No. 377 of 2022

¶2

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

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PRESIDING OFFICER

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O.A. NO. 377 OF 2022

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DATE OF DELIVERY OF ORDER 14.12.2022

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PUNJAB NATIONAL BANK

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Branch Office : Umrao Complex Opposite Govt. Hostel, M.I. Road, Jaipur through its Chief Manager Mr. Kailash Yadav

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…..Applicant Bank…..

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VERSUS

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1. MR. AHSISH GUPTA

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S/o Ram Babu Gupta

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R/o Flat No. 604 Arihan, Shri Krishan Residence, Parashramura, Sikar Road, Jaipur 302039

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2. MR. SANDEEP GUPTA

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S/o Ram Babu Gupta

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R/o Flat No. 604 Arihan, Shri Krishan Residence, Parashramura, Sikar Road, Jaipur 302039

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3. MRS. PUNITA GUPTA

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W/o Ashish Gupta

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R/o Flat No. 604 Arihan, Shri Krishan Residence, Parashramura, Sikar Road, Jaipur 302039

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4. M/S SIDDHI VINAYAK BUILDTECH AND PROMOTERS PVT.

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Through its Director Mr. Satish Kumar Singodiya Swapnil House No. 2, Barwara House Colony, Civil Lines, Ajmer Road, Jaipur

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……Defendants…..

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Counsel for the Applicant Bank Shri Alok Garg Defendants Ex-Parte

OA No. 377 of 2022

JUDGMENT

This Original Application was filed by Applicant Bank against Defendants on 27.01.2022 for recovery of an amount of Rs. 53,28,141.85 with pendentlite and future interest and cost.

¶28

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.

¶29

Defendants are proceeded ex parte on 20.09.2022.

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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/34 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.

¶31

In the result, this O.A. No. 377 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. 53,28,141.85 (Rupees Fifty Three Lac Twenty Eight Thousand One Hundred Forty One and Eighty Five Paisa Only) with future interest @ 7.95% p.a. (Simple) from 27.01.2022 till the date of realization.

¶33

b) The applicant bank is entitled to recover the above amount by sale of mortgaged properties – (1) Residential flat no. 101 in Turquoise Tower at Royal Treasure, Airport Enclave, Teejawala, Jagatpura, Sanganer, Jaipur and (2) Residential flat no. 102 in

OA No. 377 of 2022

Turquoise Tower at Royal Treasure, Airport Enclave, Teejawala, Jagatpura, Sanganer, Jaipur 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 14.03.2023 .

¶41

Prepare Recovery Certificate accordingly.

¶42

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

¶44

Order pronounced in the open court today i.e. 14.12.2022 .

¶45

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

OA No. 377 of 2022

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

¶50

PRESIDING OFFICER

¶51

O.A. NO. 377 OF 2022

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DATE OF DELIVERY OF ORDER 14.12.2022

¶53

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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PUNJAB NATIONAL BANK

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Branch Office : Umrao Complex Opposite Govt. Hostel, M.I. Road, Jaipur through its Chief Manager Mr. Kailash Yadav

¶57

…..Applicant Bank…..

¶58

VERSUS

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1. MR. AHSISH GUPTA

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S/o Ram Babu Gupta

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R/o Flat No. 604 Arihan, Shri Krishan Residence, Parashramura, Sikar Road, Jaipur 302039

¶62

2. MR. SANDEEP GUPTA

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S/o Ram Babu Gupta

¶64

R/o Flat No. 604 Arihan, Shri Krishan Residence, Parashramura, Sikar Road, Jaipur 302039

¶65

3. MRS. PUNITA GUPTA

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W/o Ashish Gupta

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R/o Flat No. 604 Arihan, Shri Krishan Residence, Parashramura, Sikar Road, Jaipur 302039

¶68

4. M/S SIDDHI VINAYAK BUILDTECH AND PROMOTERS PVT.

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Through its Director Mr. Satish Kumar Singodiya Swapnil House No. 2, Barwara House Colony, Civil Lines, Ajmer Road, Jaipur

¶70

……Defendants…..

¶71

Recovery Certificate for Rs. 53,28,141.85

¶72

In terms of final order dated 14.12.2022 passed by this Tribunal in the above mentioned case, it is ordered that the-

OA No. 377 of 2022

a) The Defendants are jointly and severally liable to pay to the applicant bank a sum of Rs. 53,28,141.85 (Rupees Fifty Three Lac Twenty Eight Thousand One Hundred Forty One and Eighty Five Paisa Only) with future interest @ 7.95% p.a. (Simple) from 27.01.2022 till the date of realization.

¶77

b) The applicant bank is entitled to recover the above amount by sale of mortgaged properties – (1) Residential flat no. 101 in Turquoise Tower at Royal Treasure, Airport Enclave, Teejawala, Jagatpura, Sanganer, Jaipur and (2) Residential flat no. 102 in Turquoise Tower at Royal Treasure, Airport Enclave, Teejawala, Jagatpura, Sanganer, Jaipur 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.

¶78

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

¶79

Parties are directed to appear before the Recovery Officer, DRT, Jaipur on 14.03.2023 .

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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 14.12.2022 .

¶82

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

OA No. 377 of 2022

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

¶87

PRESIDING OFFICER

¶88

O.A. NO. 377 OF 2022

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DATE OF DELIVERY OF ORDER 14.12.2022

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SCHEDULE TO RECOVERY CERTIFICATE

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MEMO OF COST

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PUNJAB NATIONAL BANK

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Branch Office : Umrao Complex Opposite Govt. Hostel, M.I. Road, Jaipur through its Chief Manager Mr. Kailash Yadav

¶94

…..Applicant Bank…..

¶95

VERSUS

¶96

1. MR. AHSISH GUPTA

¶97

S/o Ram Babu Gupta

¶98

R/o Flat No. 604 Arihan, Shri Krishan Residence, Parashramura, Sikar Road, Jaipur 302039

¶99

2. MR. SANDEEP GUPTA

¶100

S/o Ram Babu Gupta

¶101

R/o Flat No. 604 Arihan, Shri Krishan Residence, Parashramura, Sikar Road, Jaipur 302039

¶102

3. MRS. PUNITA GUPTA

¶103

W/o Ashish Gupta

¶104

R/o Flat No. 604 Arihan, Shri Krishan Residence, Parashramura, Sikar Road, Jaipur 302039

¶105

4. M/S SIDDHI VINAYAK BUILDTECH AND PROMOTERS PVT.

¶106

Through its Director Mr. Satish Kumar Singodiya Swapnil House No. 2, Barwara House Colony, Civil Lines, Ajmer Road, Jaipur

……Defendants…..

OA No. 377 of 2022

S.No.	Item of Costs	Amount (Rs.)
1	Fee on the Application	56,000.00
2	Process Fee (Inc. Publication)	284.00
3	Advocate Fee	1,250.00
4	Commission/Receiver/Valuation	NIL
5.	Miscellaneous Charges	NIL
	Total	57,534.00

¶112

Presiding Officer, Debts Recovery Tribunal, Jaipur

OA No. 377 of 2022

14.12.2022

Counsel:

Sh. ALOK GARG, Counsel for the Applicant Bank Defendants are ex-parte

¶119

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.

¶120

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

OA No. 377 of 2022

14.12.2022

Counsel:

Sh. ALOK GARG, Counsel for the Applicant Bank Defendants are ex-parte

¶127

The Tribunal vide order dated 14.12.2022 , directed the Registrar to verify the Recovery Certificate as per Regulation 24(1) and (2) of Debts Recovery Tribunal Jaipur Regulation 2015.

¶128

The Registrar vide order dated 14.12.2022 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.

¶129

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

OA No. 377 of 2022

DEBTS RECOVERY TRIBUNAL, JAIPUR

¶134

ORIGINAL APPLICATION NO. 377 of 2022

¶135

The Recovery Certificate prepisd in compliance of order dated 14.12.2022 passed by Hon’ble Presiding Officer, DRT, Jaipur in Original Application No. 377 of 2022 Title Punjab National Bank Vs Ashish Gupta & 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

¶141

Punjab National Bank v. Mr Ashish Gupta

Case brief

What is this about?

What did the court decide?

Punjab National Bank v. Mr Ashish Gupta

Case brief

What is this about?

What did the court decide?

What the court decided

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