Allowed

Yes Bank v. Sherawali Earthmovers

DRT18 Jan 2023OA/270/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the original application filed by Yes Bank Limited for recovering dues from the loan-defaulter respondents. The court declared the respondents jointly liable to pay the principal amount with future interest and granted permission for recovery through the sale of hypothecated assets or realization from other properties.

What did the court decide?

Respondents declared liable to pay Rs. 53,13,104.36 with future interest; recovery to be effected by sale of hypothecated equipment or attachment of personal assets; costs awarded to applicant bank.

Yes Bank versus Sherawali Earthmovers — Banking and Recovery | DRT (2023)

¶1

“ORIGINALAPPLICATION” No. 270 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. 270 OF 2022

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DATE OF DELIVERY OF ORDER 18.01.2023

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YES BANK LIMITED

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Branch Office – Ground Floor, Plot No. O-19-A, Ashok Marg, C-Scheme, Jaipur - 302001

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…..Applicant Bank…..

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VERSUS

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1. SHERAWALI EARTHMOVERS

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Through Proprietor Balbir Prasad Gurjar,

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Office – Shankar Vihar, Nareda, Kotputli, Jaipur-303105

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2. BALBIR PRASAD GURJAR

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S/o Sh. Banwari Lal Gurjar

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Khamba Ki Dhani, 249, Village Khadak Kharab, Khadab, Kotputli, Jaipur, Rajasthan – 303108

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3. SMT. HANSA DEVI

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W/o Sh. Balbir Prasad Gurjar

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Dhani Khamba Ki,

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Tehsil Kotputli, Kharab, Jaipur,

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Khadab, Rajasthan - 303105

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……Defendants…..

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Counsel for the Applicant Bank Shri Avinash Kumbhaj Defendants Ex parte

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JUDGMENT

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This Original Application was filed by Applicant Bank against Defendants on 20.01.2022 for recovery of an

OA No. 270 of 2022

amount of Rs 53,13,104.36 with pendentlite and future interest and cost.

¶29

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 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.

¶30

Defendants were proceeded ex parte on 05.08.2022.

¶31

As stated supra, the Applicant Bank filed the evidence affidavit coupled with the recitals in the documents, viz Exhibit A/1 to A/21 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 and 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. 270 of 2022 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. 53,13,104.36 (Rupees Fifty Three Lac Thirteen Thousand One Hundred Four and Thirty Six Paisa Only) with future interest @ 11.00% p.a. (Simple) from 20.01.2022 till the date of realization.

¶34

b) The applicant bank is entitled to recover the above amount by sale of hypothecated construction equipments (1) Hydraulic Excavator – Model Kobelco SK210LC, Engine No. J05ETA-47215 CHASSIS NO. YQ12-B3957 (2) Hydraulic Excavator – Model Kobelco SK220XDLC, Engine No. J05ETA47867 CHASSIS NO. YQ15-B5196 as well as from the personal movable and immovable properties/assets of Defendants. The applicant bank

OA No. 270 of 2022

is entitled to proceed against the same towards recovery of its debt.

¶39

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.

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Parties are directed to appear before the Recovery Officer, DRT, Jaipur on 18.04.2023 .

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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 Order pronounced in the open court today i.e. 18.01.2023 . (Vivek Saxena) Presiding Officer, Debts Recovery Tribunal, Jaipur

OA No. 270 of 2022

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

¶49

PRESIDING OFFICER

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O.A. NO. 270 OF 2022

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DATE OF DELIVERY OF ORDER 18.01.2023

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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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YES BANK LIMITED

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Branch Office – Ground Floor, Plot No. O-19-A, Ashok Marg, C-Scheme, Jaipur - 302001

¶56

…..Applicant Bank…..

¶57

VERSUS

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1. SHERAWALI EARTHMOVERS

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Through Proprietor Balbir Prasad Gurjar,

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Office – Shankar Vihar, Nareda, Kotputli, Jaipur-303105

¶61

2. BALBIR PRASAD GURJAR

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S/o Sh. Banwari Lal Gurjar

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Khamba Ki Dhani, 249, Village Khadak Kharab, Khadab, Kotputli, Jaipur, Rajasthan – 303108

¶64

3. SMT. HANSA DEVI

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W/o Sh. Balbir Prasad Gurjar

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Dhani Khamba Ki, Tehsil Kotputli, Kharab, Jaipur, Khadab, Rajasthan - 303105

¶67

……Defendants…..

¶68

Recovery Certificate for Rs. 53,13,104.36

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In terms of final order dated 18.01.2023 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. 53,13,104.36 (Rupees Fifty Three Lac Thirteen Thousand One Hundred Four and Thirty Six Paisa Only) with

OA No. 270 of 2022

future interest @ 11.00% p.a. (Simple) from 20.01.2022 till the date of realization.

¶75

b) The applicant bank is entitled to recover the above amount by sale of hypothecated construction equipments (1) Hydraulic Excavator – Model Kobelco SK210LC, Engine No. J05ETA-47215 CHASSIS NO. YQ12-B3957 (2) Hydraulic Excavator – Model Kobelco SK220XDLC, Engine No. J05ETA47867 CHASSIS NO. YQ15-B5196 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.

¶76

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

¶77

Parties are directed to appear before the Recovery Officer, DRT, Jaipur on 18.04.2023 .

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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 18.01.2023 .

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

OA No. 270 of 2022

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

¶85

PRESIDING OFFICER

¶86

O.A. NO. 270 OF 2022

¶87

DATE OF DELIVERY OF ORDER 18.01.2023

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SCHEDULE TO RECOVERY CERTIFICATE

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MEMO OF COST

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YES BANK LIMITED

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Branch Office – Ground Floor, Plot No. O-19-A, Ashok Marg, C-Scheme, Jaipur - 302001

¶92

…..Applicant Bank…..

¶93

VERSUS

¶94

1. SHERAWALI EARTHMOVERS

¶95

Through Proprietor Balbir Prasad Gurjar,

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Office – Shankar Vihar, Nareda, Kotputli, Jaipur-303105

¶97

2. BALBIR PRASAD GURJAR

¶98

S/o Sh. Banwari Lal Gurjar

¶99

Khamba Ki Dhani, 249, Village Khadak Kharab, Khadab, Kotputli, Jaipur, Rajasthan – 303108

¶100

3. SMT. HANSA DEVI

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W/o Sh. Balbir Prasad Gurjar

¶102

Dhani Khamba Ki,

¶103

Tehsil Kotputli, Kharab, Jaipur,

¶104

Khadab, Rajasthan - 303105

……Defendants…..

OA No. 270 of 2022

S.No.	Item of Costs	Amount (Rs.)
1	Fee on the Application	56,000.00
2	Process Fee (Inc. Publication)	195.00
3	Advocate Fee	1,250.00
4	Commission/Receiver/Valuation	NIL
5.	Miscellaneous Charges	NIL
	Total	57,445.00

¶110

Presiding Officer, Debts Recovery Tribunal, Jaipur

OA No. 270 of 2022

18.01.2023

Counsel:

Sh. AVINASH KUMBHAJ, Counsel for the Applicant Bank Defendants are exparte

¶117

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.

¶118

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

OA No. 270 of 2022

18.01.2023

Counsel:

Sh. AVINASH KUMBHAJ, Counsel for the Applicant Bank Defendants are exparte

¶125

The Tribunal vide order dated 18.01.2023 , directed the Registrar to verify the Recovery Certificate as per Regulation 24(1) and (2) of Debts Recovery Tribunal Jaipur Regulation 2015.

¶126

The Registrar vide order dated 18.01.2023 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.

¶127

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

OA No. 270 of 2022

DEBTS RECOVERY TRIBUNAL, JAIPUR

¶132

ORIGINAL APPLICATION NO. 270 of 2022

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The Recovery Certificate prepisd in compliance of order dated 18.01.2023 passed by Hon’ble Presiding Officer, DRT, Jaipur in Original Application No. 270 of 2022 Title YES BANK LTD.Vs Sherawali Earthmovers & Ors. 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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Yes Bank v. Sherawali Earthmovers

Case brief

What is this about?

What did the court decide?

Yes Bank v. Sherawali Earthmovers

Case brief

What is this about?

What did the court decide?

What the court decided

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