Allowed

State Bank of India v. Vijay Kumar Tyagi

DRT23 Feb 2023OA/198/2022

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed the State Bank of India's Original Application for recovery of Rs. 34,68,259/- with interest against individual and corporate defendants. The court held defendants jointly liable, ordered sale of mortgaged property, and issued a Recovery Certificate.

What did the court decide?

Defendants jointly liable to pay Rs. 34,68,259/- with interest; entitled to recover by sale of mortgaged property and other assets; Recovery Certificate issued.

State Bank of India versus Vijay Kumar Tyagi — Banking and Recovery | DRT (2023)

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“ORIGINALAPPLICATION” No. 198 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. 198 OF 2022

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DATE OF DELIVERY OF ORDER 23.02.2023

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STATE BANK OF INDIA

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Branch Office – SARB, 3^rd Floor, Matrix Mall, Sector-4, Jawahar Nagar, Jaipur (Raj.)

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…..Applicant Bank…..

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VERSUS

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1. MR. VIJAY KUMAR TYAGI

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S/o Mr. Jagdish Prasad Tyagi R/o 194, Near PWD Guest House,

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Bonza, Gaziabad (UP)

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2. M/S SHIVSHAKTI REALHOMES PVT. LTD.

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501-503, Diamond Tower, Near Purani Chungi, Ajmer Road, Jaipur Rajasthan - 302019

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……Defendants…..

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Counsel for the Applicant Bank Sh. Jhabar Swami Defendants Ex parte

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JUDGMENT

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This Original Application was filed by Applicant Bank against Defendants on 21.01.2022 for recovery of an amount of Rs 34,68,259/- 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. 198 of 2022

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 was proceeded ex parte on 19.11.2022.

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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/15 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. 198 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. 34,68,259/(Rupees Thirty Four Lac Sixty Eight Thousand Two Hundred Fifty Nine only) with future interest @ 11.30% p.a. (Simple) from 21.01.2022 till the date of realization.

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b) The applicant bank is entitled to recover the above amount by sale of following mortgaged property – Flat No. 602, 6^th Floor, Wing-E, ‘SHIVRAJ RESIDENCY’ Omaxe City, Ajmer Road, Jaipur (Raj.) 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.

OA No. 198 of 2022

Parties are directed to appear before the Recovery Officer, DRT, Jaipur on 23.05.2023 .

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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. 23.02.2023 .

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

OA No. 198 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. 198 OF 2022

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DATE OF DELIVERY OF ORDER 23.02.2023

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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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STATE BANK OF INDIA

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Branch Office – SARB, 3^rd Floor, Matrix Mall, Sector-4, Jawahar Nagar, Jaipur (Raj.)

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…..Applicant Bank…..

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VERSUS

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1. MR. VIJAY KUMAR TYAGI

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S/o Mr. Jagdish Prasad Tyagi

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R/o 194, Near PWD Guest House,

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Bonza, Gaziabad (UP)

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2. M/S SHIVSHAKTI REALHOMES PVT. LTD.

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501-503, Diamond Tower, Near Purani Chungi, Ajmer Road, Jaipur Rajasthan - 302019

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……Defendants…..

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Recovery Certificate for Rs. 34,68,259 /-

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In terms of final order dated 23.02.2023 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. 34,68,259/(Rupees Thirty Four Lac Sixty Eight Thousand Two Hundred Fifty Nine only) with future interest @ 11.30% p.a. (Simple) from 21.01.2022 till the date of realization.

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b) The applicant bank is entitled to recover the above amount by sale of following mortgaged property – Flat No. 602, 6^th Floor, Wing-E, ‘SHIVRAJ RESIDENCY’ Omaxe City, Ajmer Road, Jaipur

OA No. 198 of 2022

(Raj.) 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 23.05.2023 .

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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 23.02.2023 .

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

OA No. 198 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. 198 OF 2022

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DATE OF DELIVERY OF ORDER 23.02.2023

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SCHEDULE TO RECOVERY CERTIFICATE

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MEMO OF COST

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STATE BANK OF INDIA

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Branch Office – SARB, 3^rd Floor, Matrix Mall, Sector-4, Jawahar Nagar, Jaipur (Raj.)

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…..Applicant Bank…..

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VERSUS

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1. MR. VIJAY KUMAR TYAGI

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S/o Mr. Jagdish Prasad Tyagi

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R/o 194, Near PWD Guest House,

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Bonza, Gaziabad (UP)

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2. M/S SHIVSHAKTI REALHOMES PVT. LTD.

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501-503, Diamond Tower, Near Purani Chungi, Ajmer Road, Jaipur Rajasthan - 302019

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……Defendants…..

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S.No.	Item of Costs	Amount (Rs.)
1	Fee on the Application	89,000.00
2	Process Fee (Inc. Publication)	253.00
3	Advocate Fee	1,250.00
4	Commission/Receiver/Valuation	NIL
5.	Miscellaneous Charges	NIL
	Total	90,503.00

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Presiding Officer, Debts Recovery Tribunal, Jaipur

OA No. 198 of 2022

23.02.2023

Counsel:

Sh. Jhabar Swami, 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. 198 of 2022

23.02.2023

Counsel:

Sh. Jhabar Swami, Counsel for the Applicant Bank Defendants are exparte

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The Tribunal vide order dated 23.02.2023 , 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 23.02.2023 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. 198 of 2022

DEBTS RECOVERY TRIBUNAL, JAIPUR

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ORIGINAL APPLICATION NO. 198 of 2022

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The Recovery Certificate prepisd in compliance of order dated 23.02.2023 passed by Hon’ble Presiding Officer, DRT, Jaipur in Original Application No. 198 of 2022 Title State Bank of India Vs Vijay Kumar Tyagi & 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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State Bank of India v. Vijay Kumar Tyagi

Case brief

What is this about?

What did the court decide?

State Bank of India v. Vijay Kumar Tyagi

Case brief

What is this about?

What did the court decide?

What the court decided

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