Allowed

Canara Bank v. Mrs Mohini Sharma

DRT20 Oct 2022OA/81/2022

Case brief

AI extract

What is this about?

The Tribunal allowed the original application filed by Canara Bank for recovery of a housing loan default. Having sold the mortgaged property under SARFAESI, the Court directed issuance of a recovery certificate against the respondents for personal assets with future interest at 10% p.a.

What did the court decide?

Recovery certificate issued for Rs. 24,39,185.62 plus future interest at 10% p.a. on personal movable and immovable assets.

Canara Bank versus Mrs Mohini Sharma — Banking and Recovery | DRT (2022)

¶1

“ORIGINAL APPLICATION” No. 081 OF 2022

¶2

BEFORE THE DEBTS RECOVERY TRIBUNAL, JAIPUR

¶3

PRESENT- SHRI VIVEK SAXENA

¶4

PRESIDING OFFICER

¶5

O.A. NO. 081 OF 2022

¶6

DATE OF DELIVERY OF ORDER 20/10/2022

¶7

CANARA BANK

¶8

Head Office at-J.C. Road, Bangalore (Karnataka).

¶9

Branch Office at-Retail Assets Hub, C-7, Sultan House, Swai Jai Singh Highway, Banipark , Jaipur, Rajasthan, through its Sr. Manager .

¶10

…..Applicant Bank……

¶11

VERSUS

¶12

MRS. MOHINI SHARMA, W/o. Shri Suraj Mal Sharma, R/o. Plot No. 165-166, Mitra Vihar A, Panchyawala (Raj.).

¶13

SURAJ MAL SHARMA, S/o. Shri Mool Chand Sharma, R/o. Plot No. 165-166, Mitra Vihar A, Panchyawala (Raj.).

¶14

……Defendants….

¶15

Counsel for the Applicant Bank - Ms. Anamika Arora Defendants are ex-parte

¶16

JUDGMENT

¶17

The Applicant Bank originally filed this O.A. on 06.12.2021, against the Defendants for the recovery of a sum of Rs.24,39,185.62/- (Twenty Four Lacs Thirty Nine Thousand One Hundred Eighty Five and Paisa Sixty Two Only) on Housing Loan Facilities @ 8.45% p.a. with monthly rests from the Defendants with date of filing this original application till the date of realization and in default by sale of mortgaged property i.e.- Residential House at Plot No. 165-166, Mitra Vihar-A, atj Village Lalarpura, Distt. Jaipur.(The detailed description of property is given in para no. 3-A & 5.7 of OA & during the

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OA No. 081 OF 2022

pendency of OA, this mortgaged property was sold by the applicant bank under the SARFAESI Act) & as well as other Personal movable and immovable properties/assets of Defendants, jointly and severally. The applicant bank is entitled to proceed against the same towards recovery of its debt. The applicant bank is entitled to the costs and expenses of the original application.

¶22

The brief facts of the case are-

¶23

That the present original application was filed by the Sr. Manager of the applicant bank and who was authorized to sigh & verify the original application and the same on behalf of the bank, vide Exhibit A/1.

¶24

That the defendants are applied and availed the Housing Loan Facility from the applicant bank. The defendant no. 2 had approached the applicant bank for grant of Housing Loan Facility of Rs. 24.00 lacs for purchase of Plot No. 165-166 above. The defendants has signed and executed the required loaning documents in favour of applicant bank.

¶25

That the applicant bank considered and had sanctioned the above loan facility of Rs. 24.00 lacs. In order to avail the aforesaid financial the defendants executed required loaning documents in favour of applicant bank the aforesaid loan was to be repaid in monthly installments of Rs. 20752/- with intereset.

¶26

That after availing the aforesaid financial assistance, the defendant failed to comply with the financial discipline of the said loan facilities and the defendants breached the terms and conditions of the loan agreement, therefore, the accounts of defendants became classified as NPA on 02.02.2021 by the applicant bank as per guidelines of RBI.

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OA No. 081 OF 2022

That despite of the notice dated 05.04.2021, the defendants neglected and failed to pay the outstanding amount of the applicant bank.

¶31

That the applicant bank prayed to issue a recovery certificate for the aforesaid amount against the Defendants and also entitled to realize outstanding amount by the sale of above mentioned mortgaged property and as well as other personal movable and immovable properties/assets of the Defendants, jointly and severally.

¶32

Heard Arguments of Ld. Counsel for the applicant bank.

¶33

I have perused the entire case file; it reveals that in this matter at the time of filing of this OA, the defendants have mortgaged their three properties in favour of applicant bank as security.

¶34

In this matter, the Counsel for the applicant bank has filed an IA No. 710/2022 on 30.04.2022, stating therein that during the pendency of OA, the applicant bank initiated e-auction proceedings under the SARFAESI Act of 2002 and the applicant bank had sold the immovable property i.e. Plot No. 165-166 (mentioned above) and now no mortgage property/assets are available for remaining outstanding amount.

¶35

Vide order dated 18.08.2022, it was directed to Registry to return/handed over of original documents i.e. Annexure A-6 to A-8 to the Authorized Office of the Applicant Bank after obtaining the certified copy of the same.

¶36

Now the applicant bank is entitled to recover the remaining outstanding amount by the sale of personal movable/immovable property/assets of defendants, jointly

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OA No. 081 OF 2022

and severally. The applicant bank is entitled to proceed against the same towards recovery of its debt.

¶41

The applicant bank is directed to file the revised statement of account before the Recovery Officer, after adjusting the entire recovered amount.

¶42

The applicant bank filed its evidence affidavit along with list of documents, annexing there with Exhibit A/1 to A/13 marked on behalf of the applicant bank, clinches the claim of the applicant bank against the Defendants. Hence, I hold that the Defendants are liable to pay to the applicant bank the claim made in O.A. with future interest and costs.

¶43

In the result, this O.A. No. 081 OF 2022 is allowed declaring that:-

¶44

a) The Defendants are liable to pay to the applicant bank a sum of Rs.24,39,185.62/- (Twenty Four Lacs Thirty Nine Thousand One Hundred Eighty Five and Paisa Sixty Two Only) with future interest @ 10% (simple) per annum from the date of filing the original application till the date of realization.

¶45

b) In this matter the mortgage property was sold by the applicant bank. Now no mortgage property/assets are available for remaining outstanding amount The applicant bank is entitled to recover the remaining outstanding amount by the sale of personal movable/immovable property/assets of defendants, jointly and severally. The applicant bank is entitled to proceed against the same towards recovery of its debt.

¶46

The applicant bank is directed to file the revised statement of account before the Recovery Officer, after adjusting the entire recovered amount. The applicant bank is entitled to proceed against the same towards recovery of its debt.

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OA No. 081 OF 2022

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

¶51

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

¶52

Parties are directed to appear before the Recovery Officer, DRT, Jaipur on 06/02/2023 .

¶53

Prepare Recovery Certificate accordingly.

¶54

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.

¶55

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

¶56

Order pronounced in the open court today i.e. 20/10/2022 .

¶57

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

¶58

Place-Jaipur Dated-20/10/2022

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OA No. 081 OF 2022

BEFORE THE DEBTS RECOVERY TRIBUNAL, JAIPUR

¶63

PRESENT- SHRI VIVEK SAXENA

¶64

PRESIDING OFFICER

¶65

O.A. NO. 081 OF 2022

¶66

DATE OF DELIVERY OF ORDER 20/10/2022

¶67

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)

¶69

CANARA BANK

¶70

Head Office at-J.C. Road, Bangalore (Karnataka).

¶71

Branch Office at-Retail Assets Hub, C-7, Sultan House, Swai Jai Singh Highway, Banipark , Jaipur, Rajasthan, through its Sr. Manager .

¶72

…..Applicant Bank……

¶73

VERSUS

¶74

MRS. MOHINI SHARMA, W/o. Shri Suraj Mal Sharma, R/o. Plot No. 165-166, Mitra Vihar A, Panchyawala (Raj.).

¶75

SURAJ MAL SHARMA, S/o. Shri Mool Chand Sharma, R/o. Plot No. 165-166, Mitra Vihar A, Panchyawala (Raj.).

¶76

……Defendants…..

¶77

Recovery Certificate for Rs. 24,39,185.62/-

¶78

In terms of final order dated 20/10/2022 passed by this Tribunal in the above mentioned case, it is ordered that the-

¶79

a) The Defendants are liable to pay to the applicant bank a sum of Rs.24,39,185.62/- (Twenty Four Lacs Thirty Nine Thousand One Hundred Eighty Five and Paisa Sixty Two Only) with future interest @ 10% (simple) per annum from the date of filing the original application till the date of realization.

¶80

b) In this matter the mortgage property was sold by the applicant bank. Now no mortgage property/assets are available for remaining outstanding amount The applicant

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OA No. 081 OF 2022

bank is entitled to recover the remaining outstanding amount by the sale of personal movable/immovable property/assets of defendants, jointly and severally. The applicant bank is entitled to proceed against the same towards recovery of its debt.

¶85

¶86

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

¶87

ii. Parties are directed to appear before the Recovery Officer, DRT, Jaipur on 06/02/2023 .

¶88

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.

¶89

This Certificate has been issued under my signatures and seal of the Tribunal on this 20/10/2022 .

¶90

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

Place-Jaipur

Dated-20/10/2022

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OA No. 081 OF 2022

FORM NO. 10

[See Regulation-24(1)]

¶98

DEBTS RECOVERY TRIBUNAL First Floor, Sudharma-II, Opp.Kisan Bhawan, Lal Kothi Shopping Centre, Tonk Road, JAIPUR- 302015

¶99

SCHEDULED TO RECOVERY CERTIFICATE MEMO OF COST

¶100

O.A No. 081 OF 2022

¶101

CANARA BANK

¶102

Head Office at-J.C. Road, Bangalore (Karnataka).

¶103

Branch Office at-Retail Assets Hub, C-7, Sultan House, Swai Jai Singh Highway, Banipark , Jaipur, Rajasthan, through its Sr. Manager .

¶104

…..Applicant Bank……

¶105

VERSUS

¶106

MRS. MOHINI SHARMA, W/o. Shri Suraj Mal Sharma, R/o. Plot No. 165-166, Mitra Vihar A, Panchyawala (Raj.).

¶107

SURAJ MAL SHARMA, S/o. Shri Mool Chand Sharma, R/o. Plot No. 165-166, Mitra Vihar A, Panchyawala (Raj.).

¶108

……Defendants….

¶109

S. No.	Item of Costs	Amount in Rupees
1.	Fee onthe application	27,000
2.	Process Fees (inc. Publication)	50
3.	AdvocateFees	1,250
4.	Commissioner/Receivers/Valuation/ SecurityFee	NIL
5.	Miscellaneous Charges	NIL
	Total Costs	28,300

¶110

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

¶111

Place-Jaipur Dated-20/10/2022

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OA No. 081 OF 2022

20/10/2022 Counsel:

¶116

Ms. Anamika Arora, 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 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.

¶118

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

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OA No. 081 OF 2022

20/10/2022

Counsel:

Ms. Anamika Arora, Counsel for the Applicant Bank Defendants are ex-parte

¶125

The Tribunal vide order dated 20/10/2022 , 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 20/10/2022 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.

¶127

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

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OA No. 081 OF 2022

DEBTS RECOVERY TRIBUNAL, JAIPUR

¶132

ORIGINAL APPLICATION NO. 081 OF 2022

¶133

The Recovery Certificate prepared in compliance of order dated 20/10/2022 passed by Hon’ble Presiding Officer, DRT, Jaipur in Original Application No. 081 OF 2022 Title- Canara Bank Vs. MRS. MOHINI SHARMA & ORS has been checked and may be verified.

¶134

Section Officer

¶135

Assistant Registrar

¶136

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.

¶137

Assistant Registrar

¶138

Hon’ble Presiding Officer

¶139

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Canara Bank v. Mrs Mohini Sharma

Case brief

What is this about?

What did the court decide?

Canara Bank v. Mrs Mohini Sharma

Case brief

What is this about?

What did the court decide?

What the court decided

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Statutes considered

Parties & counsel

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Case details

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