Allowed

Icici Bank Limited v. Piyush Goyal

DRT27 Apr 2023OA/250/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the original application filed by ICICI Bank Limited for recovery of Rs. 38,00,876.09 plus interest and costs from Piyush Goyal. The court held the defendant liable and issued a recovery certificate for realization from hypothecated vehicles or other assets prescribed under the RDBFI Act.

What did the court decide?

Defendant ordered to pay Rs. 38,00,876.09 with future interest and costs; recovery certificate issued for enforcement via sale of assets.

Icici Bank Limited versus Piyush Goyal — Banking and Recovery | DRT (2023)

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“ORIGINALAPPLICATION” No. 250 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. 250 OF 2022

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DATE OF DELIVERY OF ORDER 27.04.2023

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ICICI BANK LIMITED

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Regional office – JSEL Building, JLN Marg, Malviya Nagar, Jaipur - 302017

…..Applicant Bank…..

VERSUS

PIYUSH GOYAL

S/o Sh. Mahesh Chand Goyal,

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403, Mohak Residency, C-651-652, Scheme -4-C, Loha Mandi, Road, Machada, Road No. 14, VKI near Jodhpur Sweet, Jaipur – 302013 (Raj.

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……Defendant…..

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Counsel for the Applicant Bank Sh. Deepak Sarawagi & Sh. Manoj Kumar Defendant Ex parte

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Ex parte

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JUDGMENT

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This Original Application was filed by Applicant Bank against Defendant on 07.01.2022 for recovery of an amount of Rs 38,00,876.09 with pendentlite and future interest and cost.

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

OA No. 250 of 2022

was sanctioned by the Applicant Bank in favour of Defendant. Defendant 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 Defendant.

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Defendant was proceeded ex parte on 17.11.2022.

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Heard arguments and perused the record.

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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/23 marked on behalf of the applicant bank, clinches the claim of the applicant bank against the Defendant. Hence, I hold that the Defendant is 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. 250 of 2022 is allowed declaring that:-

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a) The Defendant is liable to pay to the applicant bank a sum of Rs. 38,00,876.09 (Rupees Thirty Eight Lac Eight Hundred Seventy Six and Nine Paisa only) with future interest @ 9.65%, 8.25%, 15.01%, 15.51% & 9.21% p.a. (Simple) from 07.01.2022 till the date of realization.

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b) The applicant bank is entitled to recover the above amount by sale of hypothecated vehicles – City/1.5 Mt, Reg. No. – RJ14-XC-1100, Jaguar/Sj L 5.0 Portfolio, Reg. No. RJ14-ZC-9101 as well as from the personal movable and immovable properties/assets of Defendant. 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.

OA No. 250 of 2022

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 27.07.2023 .

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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. 27.04.2023 .

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

OA No. 250 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. 250 OF 2022

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DATE OF DELIVERY OF ORDER 27.04.2023

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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 LIMITED

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Regional office – JSEL Building, JLN Marg, Malviya Nagar, Jaipur - 302017

…..Applicant Bank…..

VERSUS

PIYUSH GOYAL

S/o Sh. Mahesh Chand Goyal,

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403, Mohak Residency, C-651-652, Scheme -4-C, Loha Mandi, Road, Machada, Road No. 14, VKI near Jodhpur Sweet, Jaipur – 302013 (Raj.

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……Defendant…..

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Recovery Certificate for Rs. 38,00,876.09

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In terms of final order dated 27.04.2023 passed by this Tribunal in the above mentioned case, it is ordered that the-

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a) The Defendant is liable to pay to the applicant bank a sum of Rs. 38,00,876.09 (Rupees Thirty Eight Lac Eight Hundred Seventy Six and Nine Paisa only) with future interest @ 9.65%, 8.25%, 15.01%, 15.51% & 9.21% p.a. (Simple) from 07.01.2022 till the date of realization.

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b) The applicant bank is entitled to recover the above amount by sale of hypothecated vehicles – City/1.5

OA No. 250 of 2022

Mt, Reg. No. – RJ14-XC-1100, Jaguar/Sj L 5.0 Portfolio, Reg. No. RJ14-ZC-9101 as well as from the personal movable and immovable properties/assets of Defendant. 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 27.07.2023 .

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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 27.04.2023 .

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

OA No. 250 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. 250 OF 2022

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DATE OF DELIVERY OF ORDER 27.04.2023

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SCHEDULE TO RECOVERY CERTIFICATE

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MEMO OF COST

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ICICI BANK LIMITED

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Regional office – JSEL Building, JLN Marg, Malviya Nagar, Jaipur - 302017

…..Applicant Bank…..

VERSUS

PIYUSH GOYAL

S/o Sh. Mahesh Chand Goyal,

¶87

403, Mohak Residency, C-651-652, Scheme -4-C, Loha Mandi, Road, Machada, Road No. 14, VKI near Jodhpur Sweet, Jaipur – 302013 (Raj.

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……Defendant…..

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S.No.	Item of Costs	Amount (Rs.)
1	Fee on the Application	41,000.00
2	Process Fee (Inc. Publication)	64.00
3	Advocate Fee	1,250.00
4	Commission/Receiver/Valuation	NIL
5.	Miscellaneous Charges	NIL
	Total	42,314.00

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Presiding Officer, Debts Recovery Tribunal, Jaipur

OA No. 250 of 2022

27.04.2023

Counsel:

Sh. Deepak Sarawagi & Sh. Manoj Kumar, Counsel for Applicant Bank Defendant 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 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. 250 of 2022

27.04.2023

Counsel:

Sh. Deepak Sarawagi & Sh. Manoj Kumar, Counsel for Applicant Bank Defendant are ex parte

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The Tribunal vide order dated 27.04.2023 , 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 27.04.2023 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. 250 of 2022

DEBTS RECOVERY TRIBUNAL, JAIPUR

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ORIGINAL APPLICATION NO. 250 of 2022

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The Recovery Certificate prepisd in compliance of order dated 27.04.2023 passed by Hon’ble Presiding Officer, DRT, Jaipur in Original Application No. 250 of 2022 Title ICICI Bank Limited Vs Piyush Goyal 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. Piyush Goyal

Case brief

What is this about?

What did the court decide?

Icici Bank Limited v. Piyush Goyal

Case brief

What is this about?

What did the court decide?

What the court decided

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