The Debt Recovery Tribunal allowed the bank's application for recovery of dues totaling Rs. 24,94,226.83 including interest. The court granted a recovery certificate and restrained defendants from alienating assets.
Recovery certificate issued; Defendants ordered to pay Rs. 24,94,226.83 with 10.45% interest; Restraining order on property alienation.
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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. - 193122
Union Bank of lndia, Gopatbagh, Jabatpur (M.P.)
..... Applicant
Versus
(Both R/o 368/93, Ansar Nagar, Gohatpur Zakir Hussain Ward, Jabalpur (M.P.) 482002 Defendants
Counset for the Applicant : Shri M.D.N. Bajpai, Advocate Defendants : Ex-parte
JUDGMENT
(Dated : 21't August, 2023)
?.. The brief facts of the case are that on the request of Defendant No.-1 & 2, the Appticant Bank sanctioned Housing Loan(TL) ofRs. 16,20,284/- on 14/09117 and Union Mortgage Plus of Rs.6.30 Lac on 17 l06l19.ln consideration of the sanction of credit facilities the Defendants in addition to execution of loan documents have also created equitabte mortgage over the immovabte property, i.e., Property tocated at Mouza Gohatpur, PH No.-24l2, Part of Khasra No.-28711, Bandobast No.-601, Rl Circte Jabatpur M.P. (Ground Ftoor Buitt-up area 750 sq.ft. and first f[oor buitt-up area 750 sq.ft.) totat area 1087.50 sq.ft.; betonging to Defendant No.-1. The Defendants availed the credit facitities and also executed Letter of Confirmation on 21 106119. The accounts became irregutar and the Defendants faited to liquidate the outstanding dues despite issuance of Recatt Notice on 09/04/21 and initiation of action under the Securitisation
2
oA 193/22
Act by the Appticant Bank. The Appticant-Bank has retied upon the documents at Ex. A-1 to A-24 which were proved by Shri Sandeep Meena, Branch Manager.
i) The Defendants do payjointty and severalty Rs. 24,94,226.83 (Rupees Twenty Four Lac, Ninety Four Thousand, Two Hundred Twenty Six and Paisa Eighty Six onty) together with pendentetite and future interest @10.45%per annum simpte from the date of fiting of the OA, i.e., 27 / 01 I 22, with costs titl its reatization.
ii) The Appticant Bank is entitted to setl the mortgaged as wett as personal properties and assets of the Defendants for realization of its dues. The Defendants are hereby restrained by means of injunction from depteting, transferring, encumbering, alienating or in any way deating with their properties/assets without first paying the ctaim of the Appticant Bank.
iii) A Recovery Certificate be issued uls 19(22) of Recovery of Debts and Bankruptcy Act. The applicant bank may fite a memo of cost within 7 days for preparing Recovery Certificate.
Judgment pronounced in the open court on this Day of 2'1st August, 2023.
o79
Sp rQ< (Ram Niwas Patet) Presidinq Officer
2 issues framed by the court
Whether the bank is entitled to recover the dues of Rs. 24,94,226.83 along with interest?
Whether the mortgaged property and personal assets of the defendants are liable for execution?
3 provisions across 1 enactments
Union Bank of India
Shri Sarfraj Ahmed
Smt. Sheela Bano
Ram Niwas Patet
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
