The Debt Recovery Tribunal allowed the bank's application for recovery of outstanding dues totaling approximately Rs.1.47 crores along with interest against the defendants, finding the debt proved on the record.
Recovery of Rs.1,47,81,339.48 plus interest at 11.10% p.a. from 01.06.2022 allowed with costs against all defendants jointly and severally.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
IN THE DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH
BEFORE: A S NARANG, PRESIDING OFFICER
OA No: 1207/2022
Date of Institution: 13.06.2022
Date of Decision: 11.10.2023
Bank of Baroda, Jalandhar, Punjab.
……..Applicant
Vs.
……….Defendants
Advocates
Sh. C. S. Pasricha, counsel for the applicant bank.
None for defendants.
OA for the Recovery of Rs.1,47,81,339.47p with interest from 01.06.2022.
ORDER
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(RDB Act) for the recovery of Rs.1,47,81,339.47 with interest against M/s Jagdambay International and Others (defendants).
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Pronounced in the open court. (A S Narang) Dated: 11th October, 2023 Presiding Officer DRT-1, Chandigarh
2 issues framed by the court
Whether the bank proved its case on the credit of loans and outstanding dues at the stipulated date?
Whether the defendants are liable for joint and several recovery of dues including interest?
2 provisions across 1 enactments
Bank of Baroda, Jalandhar
M/s Jagdambay International
Sh. Akash Bhola
Sh. Tarlok Nath Bhola
A S NARANG
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
