Partly allowed

Icici Bank Limited v. Nishan Singh

DRT14 Jun 2023OA/1002/2022

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed the bank's original application for recovery of Rs. 40,09,973/- plus interest. Defendants held jointly and severally liable. Order authorized recovery via sale of hypothecated crops/land and personal assets. Recovery certificate issued.

What did the court decide?

Recovery certificate issued for Rs. 40,09,973/- with future interest recoverable from hypothecated assets and personal properties.

Icici Bank Limited versus Nishan Singh — Banking and Recovery | DRT (2023)

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“ORIGINALAPPLICATION” No. 1002 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. 1002 OF 2022

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DATE OF DELIVERY OF ORDER 14.06.2023

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ICICI BANK LIMITED

¶7

Branch Office – JSEL Building 3^rd Floor, Behind Gaurav Tower, JLN Marg, Malviya Nagar, Jaipur.

…..Applicant Bank…..

VERSUS

1. NISHAN SINGH

S/o Gurnam Singh,

Add- 50 GB, Teh-Shri Vijay Nagar,

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Distt – Shri Ganganagar, Rajasthan

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2. GURNAM SINGH

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S/o Atma Singh, Add- 50 GB, Teh-Shri Vijay Nagar, Distt – Shri Ganganagar, Rajasthan

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3. SATVANT KAUR

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W/o Nishan Singh, Add- 50 GB, Teh-Shri Vijay Nagar, Distt – Shri Ganganagar, Rajasthan

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4. KULDEEP SINGH

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S/o Nand Singh, Add- 76 GB, Tehsil Anupgarh Distt – Shri Ganganagar, 74-GB, Rajasthan-335703

……Defendants…..

OA No. 1002 of 2022

Counsel for the Applicant Bank Sh. Gopesh Kumbhaj Defendants Ex parte

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JUDGMENT

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This Original Application was filed by the applicant bank on 22.08.2022 for recovery of outstanding amount of Rs. 40,09,973/- from the Defendants.

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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 28.03.2023

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Heard arguments and perused the record.

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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/7 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. 1002 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. 40,09,973/(Rupees Forty Lac Nine Thousand Nine Hundred Seventy Three only) with future interest as per agreed rate of interest from 22.08.2022 till the date of realization.

OA No. 1002 of 2022

b) The applicant bank is entitled to recover the above amount by sale of hypothecated assets (Crops) – Land measuring in village 504-B, Tehsil – Vijay Nagar, Distt. Sriganganagar, Khasra/Survey No. A/c 24 Mukam Number 38 P.N. 221/445 1.126 Hectare and Khasra/Survey No. A/c 21 Mukam Number 25 P.N. 217/444, 3.100 Hectare in the name of Gurnam Singh 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 14.09.2023 .

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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

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Order pronounced in the open court today i.e. 14.06.2023 .

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

OA No. 1002 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. 1002 OF 2022

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DATE OF DELIVERY OF ORDER 14.06.2023

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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 LIMITED

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Branch Office – JSEL Building 3^rd Floor, Behind Gaurav Tower, JLN Marg, Malviya Nagar, Jaipur.

…..Applicant Bank…..

VERSUS

1. NISHAN SINGH

S/o Gurnam Singh,

Add- 50 GB, Teh-Shri Vijay Nagar, Distt – Shri Ganganagar, Rajasthan

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2. GURNAM SINGH

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S/o Atma Singh,

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Add- 50 GB, Teh-Shri Vijay Nagar, Distt – Shri Ganganagar, Rajasthan

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3. SATVANT KAUR W/o Nishan Singh, Add- 50 GB, Teh-Shri Vijay Nagar, Distt – Shri Ganganagar, Rajasthan

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4. KULDEEP SINGH S/o Nand Singh, Add- 76 GB, Tehsil Anupgarh Distt – Shri Ganganagar, 74-GB, Rajasthan-335703

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……Defendants…..

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Recovery Certificate for Rs. 40,09,973/-

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In terms of final order dated 14.06.2023 passed by this Tribunal in the above mentioned case, it is ordered that the-

OA No. 1002 of 2022

a) The Defendants are jointly & severally liable to pay to the applicant bank a sum of Rs. 40,09,973/(Rupees Forty Lac Nine Thousand Nine Hundred Seventy Three only) with future interest as per agreed rate of interest from 22.08.2022 till the date of realization.

¶73

b) The applicant bank is entitled to recover the above amount by sale of hypothecated assets (Crops) – Land measuring in village 504-B, Tehsil – Vijay Nagar, Distt. Sriganganagar, Khasra/Survey No. A/c 24 Mukam Number 38 P.N. 221/445 1.126 Hectare and Khasra/Survey No. A/c 21 Mukam Number 25 P.N. 217/444, 3.100 Hectare in the name of Gurnam Singh 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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Parties are directed to appear before the Recovery Officer, DRT, Jaipur on 14.09.2023 .

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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 14.06.2023 .

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

OA No. 1002 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. 1002 OF 2022

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DATE OF DELIVERY OF ORDER 14.06.2023

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SCHEDULE TO RECOVERY CERTIFICATE

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MEMO OF COST

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ICICI BANK LIMITED

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Branch Office – JSEL Building 3^rd Floor, Behind Gaurav Tower, JLN Marg, Malviya Nagar, Jaipur.

…..Applicant Bank…..

VERSUS

1. NISHAN SINGH

S/o Gurnam Singh, Add- 50 GB, Teh-Shri Vijay Nagar, Distt – Shri Ganganagar, Rajasthan

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2. GURNAM SINGH S/o Atma Singh, Add- 50 GB, Teh-Shri Vijay Nagar, Distt – Shri Ganganagar, Rajasthan

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3. SATVANT KAUR W/o Nishan Singh, Add- 50 GB, Teh-Shri Vijay Nagar, Distt – Shri Ganganagar, Rajasthan

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4. KULDEEP SINGH S/o Nand Singh, Add- 76 GB, Tehsil Anupgarh Distt – Shri Ganganagar, 74-GB, Rajasthan-335703

……Defendants…..

OA No. 1002 of 2022

S.No.	Item of Costs	Amount (Rs.)
1	Fee on the Application	43,000.00
2	Process Fee (Inc. Publication)	92.00
3	Advocate Fee	1,250.00
4	Commission/Receiver/Valuation	NIL
5.	Miscellaneous Charges	NIL
	Total	44,342.00

¶102

Presiding Officer, Debts Recovery Tribunal, Jaipur

OA No. 1002 of 2022

14.06.2023

Counsel:

Sh. Gopesh Kumbhaj, Counsel for Applicant Bank Defendants are ex parte

¶109

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.

¶110

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

OA No. 1002 of 2022

14.06.2023

Counsel:

Sh. Gopesh Kumbhaj, Counsel for Applicant Bank Defendants are ex parte

¶117

The Tribunal vide order dated 14.06.2023 , 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 14.06.2023 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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(Vivek Saxena) Presiding Officer, Debts Recovery Tribunal, Jaipur

OA No. 1002 of 2022

DEBTS RECOVERY TRIBUNAL, JAIPUR

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ORIGINAL APPLICATION NO. 1002 of 2022

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The Recovery Certificate prepisd in compliance of order dated 14.06.2023 passed by Hon’ble Presiding Officer, DRT, Jaipur in Original Application No. 1002 of 2022 Title ICICI Bank Limited Vs Nishan Singh & 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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Icici Bank Limited v. Nishan Singh

Case brief

What is this about?

What did the court decide?

Icici Bank Limited v. Nishan Singh

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

Coram

Case details

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