Debts Recovery Tribunal allowed an original application filed by Central Bank of India for recovery of Rs. 1.14 crore outstanding dues. The court ordered the sale of mortgaged agricultural land and personal assets, issued an injunction against alienation, and directed issuance of a Recovery Certificate.
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.
DEBTS RECOVERY TR!BUNAL : JABALPUR
(for the States of Madhya Pradesh and Chhattisgarh)
(Presiding Officer - Hon'bte Shri Ram Niwas Patet)
Original Application No. - 1241 122
Central Bank of lndia, MPHB, Jabatpur (M.P.)
..... Appticant
Versus
Hemtata Thakur @ Hemlata Singh @Hemtata Singh Thakur, W/o Shri Santosh Thakur @ Santosh Singh, @Santosh Singh Thakur, Proprietor of M/s Batraj Gramin Godown, R/o 8, Tikari Vittage, Pipariya, Tehsit-Sahpura, Distt.-Jabatpur (M.P.) 4831 1 3
Defendant
Counsel for the Appticant : Shri Kapil Duggat, Advocate Defendant : Ex-parte
JUDGMENT (Dated: 21 August, 2023)
Z. The brief facts of the case are that on the request of Defendant, the Appticant Bank sanctioned Term Loan of Rs. 100 Lac on 19102114 and in consideration of the same the Defendant in addition to execution of [oan documents has also created equitable mortgage over the immovabte property, i.e., Agricuttural Land bearing Khasra No.-78, situated at Mouza Tiakri, N.B. 172, P.H. No.-49l53, New 33, R.N.M. Shahpura, Vikaskhand Shahpura, Tehsit-Shahpura, District-Jabalpur, admeasuring about 0.400 hectare. The Defendant availed the term loan but faited to [iquidate the outstanding dues despite issuance of Recall Notice on 13/10/20 by the Appticant Bank. The Appticant-Bank has retied upon the documents at Ex A-1 to A-12 which were proved by Shri Zimbresh Kumar, Chief Manager.
2
oA t241122
17-/06/23. There is therefore, no reason to disbetieve the contentions of the Bank. Considering the facts of the case, I opine that the Defendant is liabte to pay the ctaim amount together with interest and costs, The AppticantBank in its apptication has ctaimed interest @12% p.a. with monthty rests. However, I feel it fair and reasonabte to grant interest @12% p.a. simpte pendentetite and future titl realization of the dues. The mortgaged property is liabte to be sotd for recovery of amount due atong with the personal properties and assets of the Defendant.
i) The Defendant do pay Rs. 1,14,63,370.95 (Rupees One Crore, Fourteen Lac, Sixty Three Thousand, Three Hundred Seventy and Paisa Ninety Five onty) together with pendentelite and future interest @12% per annum simpte from the date of fiting of the OA, i.e.,07 110172, with costs titI its reatization.
ii) The Appticant Bank is entitted to selt the mortgaged as wetl as personal properties and assets of the Defendant for reatization of its dues. The Defendant is hereby restrained by means of injunction from depteting, transferring, encumbering, alienating or in any way dea[ing with her properties/assets without first paying the claim of the Appticant Bank.
iii) A Recovery Certificate be issued uls 19(22) of Recovery of Debts and Bankruptcy Act. The applicant bank may fi[e a memo of cost within 7 days for preparing Recovery Certificate.
Judgment pronounced in the open court on this Day of 21st August, 2023.
Sp &< (Ram Niwas Patet) Presidinq Officer
2 issues framed by the court
Whether the applicant bank is entitled to recovery of outstanding dues by sale of mortgaged and personal properties.
Whether the granted interest rate of 12% p.a. with monthly rests is appropriate for pendent lite and future interest.
2 provisions across 1 enactments
Central Bank of India, MPHB, Jabatpur (M.P.)
Hemtata Thakur
Ram Niwas Patet
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
