Allowed

Punjab National Bank v. Jai Hanuman Enterprises

DRT22 Feb 2023OA/119/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an original application filed by Punjab National Bank for recovery of Rs. 38,75,234/- with interest. The court held the borrowers jointly liable, authorizing recovery through the sale of hypothecated assets and other properties, and directed the issuance of a recovery certificate.

What did the court decide?

The defendants were declared jointly and severally liable to pay the principal amount with interest and costs; recovery was authorized via sale of assets.

Punjab National Bank versus Jai Hanuman Enterprises — Banking and Recovery | DRT (2023)

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“ORIGINALAPPLICATION” No. 119 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. 119 OF 2022

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DATE OF DELIVERY OF ORDER 22.02.2023

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PUNJAB NATIONAL BANK

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Branch Office – Chandpole, Jaipur

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…..Applicant Bank…..

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VERSUS

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1. M/S JAI HANUMAN ENTERPRISES

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(Through its Proprietor Shri Kailash Chand Choudhary) H-1-111, RIICO Industrial Area Bagru Extension, Jaipur (Raj.) 303007

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2. SHRI KAILASH CHAND CHOUDHARY

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S/o Sh. Hanuman Choudhary (Proprietor M/s Jai Hanuman Enterprises) Village Basadi, Post Begus, Via Bagru, Jaipur

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……Defendants…..

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Counsel for the Applicant Bank Sh. Vikas Jain Defendants Ex parte

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JUDGMENT

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This Original Application was filed by Applicant Bank against Defendants on 06.01.2022 for recovery of an amount of Rs 38,75,234/- 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

OA No. 119 of 2022

NPA. Applicant Bank has therefore, filed this original application for recovery of its dues against the Defendants.

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Defendants was 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/19 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. 119 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. 38,75,234/(Rupees Thirty Eight Lac Seventy Five Thousand Two Hundred Thirty Four only) with future interest @ 8.10% p.a. (Simple) from 06.01.2022 till the date of realization.

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b) The applicant bank is entitled to recover the above amount by sale of hypothecated vehicle – Car, Registration No. RJ-14-CX-4197 assets 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 22.05.2023 .

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Prepare Recovery Certificate accordingly.

OA No. 119 of 2022

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. 22.02.2023 .

OA No. 119 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. 119 OF 2022

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DATE OF DELIVERY OF ORDER 22.02.2023

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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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PUNJAB NATIONAL BANK

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Branch Office – Chandpole, Jaipur

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…..Applicant Bank…..

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VERSUS

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1. M/S JAI HANUMAN ENTERPRISES

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(Through its Proprietor Shri Kailash Chand Choudhary) H-1-111, RIICO Industrial Area Bagru Extension, Jaipur (Raj.) 303007

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2. SHRI KAILASH CHAND CHOUDHARY

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S/o Sh. Hanuman Choudhary

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(Proprietor M/s Jai Hanuman Enterprises) Village Basadi, Post Begus, Via Bagru, Jaipur

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……Defendants…..

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Recovery Certificate for Rs. 38,75,234/-

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In terms of final order dated 22.02.2023 passed by this Tribunal in the above mentioned case, it is ordered that the-

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a) The Defendants are jointly & severally liable to pay to the applicant bank a sum of Rs. 38,75,234/(Rupees Thirty Eight Lac Seventy Five Thousand Two Hundred Thirty Four only) with future interest @ 8.10% p.a. (Simple) from 06.01.2022 till the date of realization.

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b) The applicant bank is entitled to recover the above amount by sale of hypothecated vehicle – Car, Registration No. RJ-14-CX-4197 assets as well as from the personal movable and immovable

OA No. 119 of 2022

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 22.05.2023 .

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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 22.02.2023 .

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

OA No. 119 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. 119 OF 2022

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DATE OF DELIVERY OF ORDER 22.02.2023

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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 – Chandpole, Jaipur

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…..Applicant Bank…..

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VERSUS

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1. M/S JAI HANUMAN ENTERPRISES

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(Through its Proprietor Shri Kailash Chand Choudhary) H-1-111, RIICO Industrial Area Bagru Extension, Jaipur (Raj.) 303007

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2. SHRI KAILASH CHAND CHOUDHARY

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S/o Sh. Hanuman Choudhary

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(Proprietor M/s Jai Hanuman Enterprises)

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Village Basadi, Post Begus, Via Bagru,

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Jaipur

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……Defendants…..

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S.No.	Item of Costs	Amount (Rs.)
1	Fee on the Application	41,005.00
2	Process Fee (Inc. Publication)	270.00
3	Advocate Fee	1,250.00
4	Commission/Receiver/Valuation	NIL
5.	Miscellaneous Charges	NIL
	Total	42,525.00

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Presiding Officer, Debts Recovery Tribunal, Jaipur

OA No. 119 of 2022

22.02.2023

Counsel: Sh. Vikas Jain, Counsel for the Applicant Bank Defendants are exparte

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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.

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

OA No. 119 of 2022

22.02.2023

Counsel:

Sh. Vikas Jain, Counsel for the Applicant Bank Defendants are exparte

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The Tribunal vide order dated 22.02.2023 , 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 22.02.2023 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. 119 of 2022

DEBTS RECOVERY TRIBUNAL, JAIPUR

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ORIGINAL APPLICATION NO. 232of 2022

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The Recovery Certificate prepisd in compliance of order dated 22.02.2023 passed by Hon’ble Presiding Officer, DRT, Jaipur in Original Application No. 119 of 2022 Title Punjab National Bank Vs Jai Hanuman Enterprises & Anr. 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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Punjab National Bank v. Jai Hanuman Enterprises

Case brief

What is this about?

What did the court decide?

Punjab National Bank v. Jai Hanuman Enterprises

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

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Case details

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