The Tribunal allowed the Originial Application filed by Punjab National Bank to recover Rs. 21,94,486.54 plus interest from two respondents. The bank was granted a Recovery Certificate and an injunction restraining disposal of assets.
Defendants ordered to pay Rs. 21,94,486.54 with interest @10% p.a.; Recovery Certificate issued; Injunction granted on assets.
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DEBTS RECOVERY TRIBUNAL : JABALPUR
(for the States of Madhya Pradesh and Chhattisgarh)
(Presiding Officer - Hon'bte Shri Ram Niwas Patet)
Originol Applicotion No.- 1172122
Punjab National Bank, Recovery Centre at Circte SASTFA, Ujjain (M.P.) a56010
Appticant
Versus
Counsel for the Appticant : Shri Sanjeev Dubey, Advocate Defendants : Ex-parte
JUDGMENT
loated:75FMay,20231
SD/-=
2
oA 1172/22
initiation of action under the Securitisation Act by the Appticant Bank. The Appticant-Bank has retied upon the documents at Ex. A-1 to A-16 which were proved by Shri Pratap Singh, Chief Manager.
i) The Defendants do payjointty and severally Rs.21,94,486.54 (Rupees Twenty One Lac, Ninety Four Thousand, Four Hundred Eighty Six and Paisa Fifty Four onty) together with pendentetite and future interest @10% per annum simple from the date of fiting of the OA, i.e.,27109122, with costs tilt its realization.
ii) The Appticant Bank is entitled to setl the mortgaged as wetl as personat properties and assets of the Defendants for realization of its dues. The Defendants are hereby restrained by means of injunction from depteting, transferring, encumbering, atienating or in any way deating with their properties/assets without firstpaying the claim of the ApplicantBank.
iii) A Recovery Certificate be issued uls 19(221 of Recovery of Debts and Bankruptcy Act. The appticant bank may fite a memo of cost within 7 days for preparing Recovery Certificate.
Judgment pronounced in the open court on this Day of.2 5th May, 202
3 DI
(Ram Niwas Patet) Presidine Officer
2 issues framed by the court
Whether the applicants are entitled to recover the claimed dues along with interest as per the agreement.
Whether the mortgaged and personal properties of the respondents are liable for sale to realize the dues.
3 provisions across 2 enactments
Punjab National Bank
Mr. Atmaram Parmar
Mr. Narendra Matviya
Shri Ram Niwas Patet
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
