Allowed

Rajasthan Marudhara Gramin Bank v. Manoj Kumar

DRT21 Oct 2023OA/241/2023

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the Rajasthan Marudhara Gramin Bank's original application for recovery of Rs. 29,09,954 plus interest against two defendants who failed to repay an agricultural loan. The decree orders personal and hypothecated asset recovery.

What did the court decide?

Order recovery of Rs. 29,09,954 with 10% simple interest. Authorize recovery via sale of hypothecated stocks, mortgaged immovable property, and personal movable and immovable assets.

Rajasthan Marudhara Gramin Bank versus Manoj Kumar — Banking and Recovery | DRT (2023)

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“ORIGINALAPPLICATION” No. 241 OF 2023

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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. 241 OF 2023

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DATE OF DELIVERY OF ORDER 21.10.2023

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RAJASTHAN MARUDHARA GRAMIN BANK

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a body corporate constituted under the provisions of the Regional Rural Banks Act, 1976, having its Head Office at Tulsi Tower, 9th B Road, Sardarpura, Jodhpur – 342003 (Rajasthan) and amongst others a Branch situated at Tehsil Sangaria, District Hanumangarh (Rajasthan) now represented through the Regional Business Office situated at Plot No. 92, Sector No. 12 L, Golden Tower, Lal Chowk, Sriganganagar Road, Hanumangarh Junction – 335512 (Rajasthan) through the Regional Manager.

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…..Applicant Bank…..

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VERSUS

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1. MANOJ KUMAR ,

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son of Mr. Vijay Kumar, Resident of Village 5MMK, PO Lilawali, Tehsil Sangaria, District Hanumangarh (Rajasthan)

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2. JAGMEET SINGH ,

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son of Mr. Sukhraj Singh, Resident of Village 4DLP, Tehsil Sangaria, District Hanumangarh (Rajasthan)

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……Defendants…..

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Counsel for the Applicant Bank Defendants

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Shri Rajkumar Ex-Parte

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JUDGMENT

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The Applicant Bank filed this O.A. on 08.02.2023, againstthe Defendants for the recovery of a sum of Rs.29,09,954.00 withpendentelite& future interest till payment or realization.

OA No. 241 of 2023

As per O.A., Defendants approached the Applicant Bank for financial assistance. After due consideration, an agricultural loanfacilitywas sanctioned by the Applicant Bank in favour of 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 were proceeded ex-parte and their right to file reply was closed on 26.06.2023.

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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/18marked on behalf of the applicant bank, clinches the claim of the applicant bank against the Defendants. Hence, I hold that the Defendants are jointly and 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. 241 OF 2023 is allowed declaring that:-

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a) The Defendants are jointly and severally liable to pay to the applicant bank a sum of Rs. 29,09,954/(Rupees Twenty Nine Lac Nine Thousand Nine Hundred Fifty Four Only) with future interest @ 10.00% p.a. (Simple) from the Defendants from 08.02.2023till the date of realization.

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b) The applicant bank is entitled to recover the above amount by sale of hypothecated whole of the stocks, both present and future, raw materials, work-in-progress, semi-finished goods and finished goods, packing materials etc. and created mortgage of immovable property as under –

OA No. 241 of 2023

as well as from thepersonal movable and immovable properties/assets of Defendants, jointly and severally. 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.

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Parties are directed to appear before the Recovery Officer, DRT, Jaipur on 18.12.2023 .

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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. 21.10.2023 .

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

OA No. 241 of 2023

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

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PRESIDING OFFICER

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O.A. NO. 241 OF 2023

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DATE OF DELIVERY OF ORDER 21.10.2023

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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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RAJASTHAN MARUDHARA GRAMIN BANK

…..Applicant Bank…..

VERSUS

1. MANOJ KUMAR ,

son of Mr. Vijay Kumar, Resident of Village 5MMK, PO Lilawali, Tehsil Sangaria, District Hanumangarh (Rajasthan)

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2. JAGMEET SINGH ,

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son of Mr. Sukhraj Singh, Resident of Village 4DLP, Tehsil Sangaria, District Hanumangarh (Rajasthan)

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……Defendants…..

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Recovery Certificate for Rs. 29,09,954.00

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In terms of final order dated 21.10.2023 passed by this Tribunal in the above mentioned case, it is ordered that the-

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a) The Defendants are jointly and severally liable to pay to the applicant bank a sum of Rs. 29,09,954/(Rupees Twenty Nine Lac Nine Thousand Nine Hundred Fifty Four Only) with future interest @ 10.00% p.a. (Simple) from the Defendantsfrom 08.02.2023 till the date of realization.

OA No. 241 of 2023

b) The applicant bank is entitled to recover the above amount by sale of hypothecated whole of the stocks, both present and future, raw materials, work-in-progress, semi-finished goods and finished goods, packing materials etc. and created mortgage

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of immovable property as under –

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as well as from thepersonal movable and immovable properties/assets of Defendants, jointly and severally. 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. Parties are directed to appear before the Recovery Officer, DRT, Jaipur on 18.12.2023 .

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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 Debtors.

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This Certificate has been issued under my signatures and seal of the Tribunal on this 21.10.2023 .

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

OA No. 241 of 2023

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

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PRESIDING OFFICER

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O.A. NO. 241 OF 2023

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DATE OF DELIVERY OF ORDER 21.10.2023

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SCHEDULE TO RECOVERY CERTIFICATE

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MEMO OF COST

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RAJASTHAN MARUDHARA GRAMIN BANK

…..Applicant Bank…..

VERSUS

1. MANOJ KUMAR ,

son of Mr. Vijay Kumar, Resident of Village 5MMK, PO Lilawali, Tehsil Sangaria, District Hanumangarh (Rajasthan)

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2. JAGMEET SINGH ,

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son of Mr. Sukhraj Singh, Resident of Village 4DLP, Tehsil Sangaria, District Hanumangarh (Rajasthan)

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……Defendants…..

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S.No.	Item of Costs	Amount (Rs.)
1	Fee on the Application	32,005.00
2	Process Fee (Inc. Publication)	50 .00
3	Advocate Fee	1,250.00
4	Commission/Receiver/Valuation	NIL
5.	Miscellaneous Charges	NIL
	Total	33,305.00

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

OA No. 241 of 2023

Date : 21.10.2023

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Counsel:

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Sh.RAJKUMAR, Counsel for the Applicant Bank Defendants are ex-parte

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Judgment dictated separately and pronounced in the open court. As per order the O.A. is allowed. Recovery Certificate be prepared 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. 241 of 2023

Date : 21.10.2023 Counsel: Sh.RAJKUMAR, Counsel for the Applicant Bank Defendants are ex-parte

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The Tribunal vide order dated 21.10.2023 , 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 21.10.2023 verified the Recovery Certificate as per Regulation 24(1) and (2) of Debts Recovery Tribunal Jaipur Regulation 2015. Recovery Certificate is prepared 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. 241 of 2023

DEBTS RECOVERY TRIBUNAL, JAIPUR

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ORIGINAL APPLICATION NO. 241 of 2023

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The Recovery Certificate prepared in compliance of order dated 21.10.2023 passed by Hon’ble Presiding Officer, DRT, Jaipur in Original Application No. 241 of 2023 Title- Rajasthan MarudharaGramin Bank Vs Manoj Kumar&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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Rajasthan Marudhara Gramin Bank v. Manoj Kumar

Case brief

What is this about?

What did the court decide?

Rajasthan Marudhara Gramin Bank v. Manoj Kumar

Case brief

What is this about?

What did the court decide?

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