Allowed

Icici Bank Limited v. Mr Nijar Khan

DRT7 Jan 2023OA/141/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the bank's original application for recovery of a loan classified as NPA. The court declared the borrowers jointly and severally liable and directed the issuance of a recovery certificate for the principal amount, future interest, and costs, allowing recovery via sale of a commercial vehicle or through other assets.

What did the court decide?

Allowed the application; ordered repayment of Rs. 31,33,106/- with interest; authorized recovery through sale of a specific commercial vehicle (Lpt 3718) or other assets; awarded costs.

Icici Bank Limited versus Mr Nijar Khan — Execution and Attachment | DRT (2023)

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“ORIGINALAPPLICATION” No. 141 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. 141 OF 2022

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DATE OF DELIVERY OF ORDER 07.01.2023

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ICICI BANK LTD.

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Branch Office – ICICI Bank Ltd. JSEL Building, 3^rd Floor, Near Gaurav Tower, JLN Marg, Malviya Nagar – Jaipur 302017 (Raj.)

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…..Applicant Bank…..

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VERSUS

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1. MR. NIZAR KHAN

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S/o Saleman Khan

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R/o Mahwa Khurd near Masjid,

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Alwar-301001, Rajasthan

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2. MR. SAMAYDIN

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S/o Mr. Saleman

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R/o Mahwa Khurd near Masjid, Alwar-301001, Rajasthan

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……Defendants…..

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Counsel for the Applicant Bank Shri Mukesh Chand Sharma Counsel for Defendants Shri Giriraj Prasad

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JUDGMENT

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This Original Application was filed by Applicant Bank against Defendants on 10.01.2022 for recovery of an amount of Rs. 31,33,106/- 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

OA No. 141 of 2021

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 failed to file reply, therefore, their right to file reply closed on 15.12.2022..

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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/10 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. 141 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. 31,33,106/- (Rupees Thirty One Lac Thirty Three Thousand One Hundred Six Only) with future interest @ 10.52%, p.a. (Simple) from 10.01.2022 till the date of realization.

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b) The applicant bank is entitled to recover the above amount by sale of following hypothecated commercial vehicle –

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Lpt 3718 – BODY, Lpt 3718 – Reg. No. RJ02GC0258 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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The recovery certificate be issued forthwith and be sent to the Recovery Officer, DRT, Jaipur.

OA No. 141 of 2021

Parties are directed to appear before the Recovery Officer, DRT, Jaipur on 10.04.2023 .

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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. 07.01.2023 .

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

OA No. 141 of 2021

BEFORE THE DEBTS RECOVERY TRIBUNAL, JAIPUR PRESENT- SHRI VIVEK SAXENA

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PRESIDING OFFICER

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O.A. NO. 141 OF 2022

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DATE OF DELIVERY OF ORDER 07.01.2023

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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 LTD.

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Branch Office – ICICI Bank Ltd. JSEL Building, 3^rd Floor, Near Gaurav Tower, JLN Marg, Malviya Nagar – Jaipur 302017 (Raj.)

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…..Applicant Bank…..

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VERSUS

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1. MR. NIZAR KHAN

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S/o Saleman Khan

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R/o Mahwa Khurd near Masjid,

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Alwar-301001, Rajasthan

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2. MR. SAMAYDIN

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S/o Mr. Saleman

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R/o Mahwa Khurd near Masjid, Alwar-301001, Rajasthan

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……Defendants

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Recovery Certificate for Rs. 31,33,106/-

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In terms of final order dated 07.01.2023 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. 31,33,106/- (Rupees Thirty One Lac Thirty Three Thousand One Hundred Six Only) with future interest @ 10.52%, p.a. (Simple) from 10.01.2022 till the date of realization.

OA No. 141 of 2021

b) The applicant bank is entitled to recover the above amount by sale of following hypothecated commercial vehicle –

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Lpt 3718 – BODY, Lpt 3718 – Reg. No. RJ02GC0258 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 10.04.2023 .

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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 07.01.2023 .

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

OA No. 141 of 2021

BEFORE THE DEBTS RECOVERY TRIBUNAL, JAIPUR PRESENT- SHRI VIVEK SAXENA

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PRESIDING OFFICER

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O.A. NO. 141 OF 2022

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DATE OF DELIVERY OF ORDER 07.01.2023

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SCHEDULE TO RECOVERY CERTIFICATE

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MEMO OF COST

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ICICI BANK LTD.

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Branch Office – ICICI Bank Ltd. JSEL Building, 3^rd Floor, Near Gaurav Tower, JLN Marg, Malviya Nagar – Jaipur 302017 (Raj.)

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…..Applicant Bank…..

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VERSUS

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1. MR. NIZAR KHAN

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S/o Saleman Khan

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R/o Mahwa Khurd near Masjid,

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Alwar-301001, Rajasthan

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2. MR. SAMAYDIN

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S/o Mr. Saleman

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R/o Mahwa Khurd near Masjid,

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Alwar-301001, Rajasthan

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……Defendants

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S.No.	Item of Costs	Amount (Rs.)
1	Fee on the Application	34,000.00
2	Process Fee (Inc. Publication)	140.00
3	Advocate Fee	1,250.00
4	Commission/Receiver/Valuation	NIL
5.	Miscellaneous Charges	NIL
	Total	35,390.00

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Presiding Officer, Debts Recovery Tribunal, Jaipur

OA No. 141 of 2021

07.01.2023

Counsel:

Sh. MUKESH CHAND SHAMA, Counsel for the Applicant Bank Sh. GIRIRAJ PRASAD, Counsel for Defendants

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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. 141 of 2021

07.01.2023

Counsel:

Sh. MUKESH CHAND SHAMA, Counsel for the Applicant Bank Sh. GIRIRAJ PRASAD, Counsel for Defendants

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The Tribunal vide order dated 07.01.2023 , 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 07.01.2023 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. 141 of 2021

DEBTS RECOVERY TRIBUNAL, JAIPUR

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ORIGINAL APPLICATION NO. 141 of 2022

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The Recovery Certificate prepisd in compliance of order dated 07.01.2023 passed by Hon’ble Presiding Officer, DRT, Jaipur in Original Application No. 141 of 2022 Title ICICI Bank Ltd. Vs Mr. Nijar Khan & 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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Icici Bank Limited v. Mr Nijar Khan

Case brief

What is this about?

What did the court decide?

Icici Bank Limited v. Mr Nijar Khan

Case brief

What is this about?

What did the court decide?

What the court decided

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Statutes considered

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