Allowed

Icici Bank Limited v. Karir Infrastructure

DRT13 Feb 2023OA/244/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an original application filed by ICICI Bank Ltd. against borrowers for recovery of a loan amount. The court held borrowers jointly and severally liable, issued a recovery certificate for the principal and interest, and directed realization through the Recovery Officer.

What did the court decide?

Recovery certificate issued for Rs. 52,81,339 with interest; applicants entitled to recover dues by sale of hypothecated vehicle and personal assets.

Icici Bank Limited versus Karir Infrastructure — Banking and Recovery | DRT (2023)

¶1

“ORIGINALAPPLICATION” No. 244 of 2022

¶2

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

¶3

PRESIDING OFFICER

¶4

O.A. NO. 244 OF 2022

¶5

DATE OF DELIVERY OF ORDER 13.02.2023

¶6

ICICI BANK LTD.

¶7

Branch Office – JSEL Building, 3^rd Floor, Behind Gaurav Tower, JLN Marg, Malviya Nagar, Jaipur

¶8

…..Applicant Bank…..

¶9

VERSUS

¶10

1. KARIR INFRASTRUCTURE,

¶11

Through its sole Proprietor Mr. Sandeep Kumar Regd. Office at Kariro Ki Dhani, Banuda, Tehsil – Dantaramgarh, Sikar – 332023 (Rajasthan)

¶12

2. MR. SANDEEP KUMAR

¶13

S/o Mr Gopal Ram

¶14

R/o Kariro Ki Dhani, Banoora, Sikar - 332023

¶15

3. MR. GOPAL RAM

¶16

S/o Mr Govinda Ram

¶17

R/o Kariro Ki Dhani, Banoora, Banura,

¶18

Dantaramgarh, Sikar – 332023 (Rajasthan)

¶19

……Defendants…..

¶20

Counsel for the Applicant Bank Shri M.C. Sharma Defendants Ex parte

¶21

Ex parte

¶22

JUDGMENT

¶23

This Original Application was filed by Applicant Bank against Defendants on 01.02.2022 for recovery of an amount of Rs 52,81,339.00 with pendentlite and future interest and cost.

¶24

As per O.A., Defendants approached the Applicant Bank for financial assistance. After due consideration, credit

OA No. 244 of 2022

facility was 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.

¶29

¶30

Defendants was proceeded ex parte on 03.10.2022.

¶31

As stated supra, the Applicant Bank filed the evidence affidavit coupled with the recitals in the documents, viz Exhibit A/1 to A/13 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.

¶32

In the result, this O.A. No. 244 of 2022 is allowed declaring that:-

¶33

a) The Defendants are jointly & severally liable to pay to the applicant bank a sum of Rs. 52,81,339/(Rupees Fifty Two Lac Eighty One Thousand Three Hundred Thirty Nine only) with future interest @ 9.25% p.a. (Simple) from 01.02.2022 till the date of realization.

¶34

b) The applicant bank is entitled to recover the above amount by sale of hypothecated vehicle – 3528CM/3528CM BSIV Reg No. Rj23GC1063 ECLGS as well as from personal movable and immovable properties/assets of Defendants. The applicant bank is entitled to proceed against the same towards recovery of its debt.

¶35

c) The applicant bank is entitled to the costs of the O.A.

¶36

1. The recovery certificate be issued forthwith and be sent to the Recovery Officer, DRT, Jaipur.

OA No. 244 of 2022

Parties are directed to appear before the Recovery Officer, DRT, Jaipur on 15.05.2023 .

¶41

Prepare Recovery Certificate accordingly.

¶42

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.

¶43

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

¶44

Order pronounced in the open court today i.e. 13.02.2023 .

¶45

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

OA No. 244 of 2022

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

¶50

PRESIDING OFFICER

¶51

O.A. NO. 244 OF 2022

¶52

DATE OF DELIVERY OF ORDER 13.02.2023

¶53

RECOVERY CERTIFICATE

¶54

(UNDER SUB Section 22 of the Recovery of Debts due to Banks and Financial Institutions Act, 1993 (Act 51 of 1993)

¶55

ICICI BANK LTD.

¶56

Branch Office – JSEL Building, 3^rd Floor, Behind Gaurav Tower, JLN Marg, Malviya Nagar, Jaipur

¶57

…..Applicant Bank…..

¶58

VERSUS

¶59

1. KARIR INFRASTRUCTURE,

¶60

Through its sole Proprietor Mr. Sandeep Kumar Regd. Office at Kariro Ki Dhani, Banuda, Tehsil – Dantaramgarh, Sikar – 332023 (Rajasthan)

¶61

2. MR. SANDEEP KUMAR

¶62

S/o Mr Gopal Ram

¶63

R/o Kariro Ki Dhani, Banoora, Sikar - 332023

¶64

3. MR. GOPAL RAM

¶65

S/o Mr Govinda Ram

¶66

R/o Kariro Ki Dhani, Banoora, Banura, Dantaramgarh, Sikar – 332023 (Rajasthan)

¶67

……Defendants…..

¶68

Recovery Certificate for Rs. 52,81,339/-

¶69

In terms of final order dated 13.02.2023 passed by this Tribunal in the above mentioned case, it is ordered that the-

¶70

a) The Defendants are jointly & severally liable to pay to the applicant bank a sum of Rs. 52,81,339/(Rupees Fifty Two Lac Eighty One Thousand Three Hundred Thirty Nine only) with future interest @ 9.25% p.a. (Simple) from 01.02.2022 till the date of realization.

OA No. 244 of 2022

b) The applicant bank is entitled to recover the above amount by sale of hypothecated vehicle – 3528CM/3528CM BSIV Reg No. Rj23GC1063 ECLGS as well as from personal movable and immovable properties/assets of Defendants. The applicant bank is entitled to proceed against the same towards recovery of its debt.

¶75

c) The applicant bank is entitled to the costs of the O.A.

¶76

Parties are directed to appear before the Recovery Officer, DRT, Jaipur on 15.05.2023 .

¶77

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.

¶78

This Certificate has been issued under my signatures and seal of the Tribunal on this 13.02.2023 .

¶79

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

OA No. 244 of 2022

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

¶84

PRESIDING OFFICER

¶85

O.A. NO. 244 OF 2022

¶86

DATE OF DELIVERY OF ORDER 13.02.2023

¶87

SCHEDULE TO RECOVERY CERTIFICATE

¶88

MEMO OF COST

¶89

ICICI BANK LTD.

¶90

Branch Office – JSEL Building, 3^rd Floor, Behind Gaurav Tower, JLN Marg, Malviya Nagar, Jaipur

¶91

…..Applicant Bank…..

¶92

VERSUS

¶93

1. KARIR INFRASTRUCTURE,

¶94

Through its sole Proprietor Mr. Sandeep Kumar Regd. Office at Kariro Ki Dhani, Banuda, Tehsil – Dantaramgarh, Sikar – 332023 (Rajasthan)

¶95

2. MR. SANDEEP KUMAR

¶96

S/o Mr Gopal Ram

¶97

R/o Kariro Ki Dhani, Banoora, Sikar - 332023

¶98

3. MR. GOPAL RAM

¶99

S/o Mr Govinda Ram

¶100

R/o Kariro Ki Dhani, Banoora, Banura,

¶101

Dantaramgarh, Sikar – 332023 (Rajasthan)

¶102

……Defendants…..

¶103

S.No.	Item of Costs	Amount (Rs.)
1	Fee on the Application	65,000.00
2	Process Fee (Inc. Publication)	360.00
3	Advocate Fee	1,250.00
4	Commission/Receiver/Valuation	NIL
5.	Miscellaneous Charges	NIL
	Total	66,410.00

¶104

Presiding Officer, Debts Recovery Tribunal, Jaipur

OA No. 244 of 2022

13.02.2023

Counsel:

Sh. M.C. SHARMA, Counsel for the Applicant Bank Defendants are ex parte

¶111

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.

¶112

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

OA No. 244 of 2022

13.02.2023

Counsel: Sh. M.C. SHARMA, Counsel for the Applicant Bank Defendants are ex parte

¶118

The Tribunal vide order dated 13.02.2023 , directed the Registrar to verify the Recovery Certificate as per Regulation 24(1) and (2) of Debts Recovery Tribunal Jaipur Regulation 2015.

¶119

The Registrar vide order dated 13.02.2023 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.

¶120

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

OA No. 244 of 2022

DEBTS RECOVERY TRIBUNAL, JAIPUR

¶125

ORIGINAL APPLICATION NO. 244 of 2022

¶126

The Recovery Certificate prepisd in compliance of order dated 13.02.2023 passed by Hon’ble Presiding Officer, DRT, Jaipur in Original Application No. 244 of 2022 Title ICICI Bank Ltd. Vs Karir Infrastructure & Ors. has been checked and may be verified.

¶127

Section Officer

¶128

Assistant Registrar

¶129

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.

¶130

Assistant Registrar

¶131

Hon’ble Presiding Officer

¶132

Icici Bank Limited v. Karir Infrastructure

Case brief

What is this about?

What did the court decide?

Icici Bank Limited v. Karir Infrastructure

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

Coram

Case details

Similar cases

Punjab National Bank versus Mr Ram Singh Meena

Punjab National Bank versus Smt Koyali Devi

Mohan Lal versus State Bank of India

Punjab National Bank versus M/S Venketesh Exim Private Limited

Icici Bank Limited versus Laxman Ram Choudhary

Kotak Mahindra Bank Limited versus Milap Singh