Allowed

Punjab National Bank v. Mr Ram Singh Meena

DRT10 Feb 2023OA/278/2022

Case brief

AI extract

What is this about?

The Debt Recovery Tribunal under Section 22 of the RDBFI Act allowed an original application filed by Punjab National Bank against two borrowers for recovery of a sanctioned loan. The court found the claim established through evidence and directed the issuance of a recovery certificate.

What did the court decide?

Recovery Certificate issued for Rs. 28,70,829 with future interest; applicants entitled to recover from hypothecated crops, livestock, and mortgaged agricultural land and personal assets.

Punjab National Bank versus Mr Ram Singh Meena — Contract and Commercial Disputes | DRT (2023)

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“ORIGINALAPPLICATION” No. 278 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. 278 OF 2022

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DATE OF DELIVERY OF ORDER 10.02.2023

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PUNJAB NATIONAL BANK

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Branch Office – Old Bus Stand, Tonk, Rajasthan and Recovery Office at Circle Sastra, 9-A, Industrial Area infront of Patrika Road, Kota, Rajasthan

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…..Applicant Bank…..

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VERSUS

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1. MR. RAM SINGH MEENA

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S/o Sh. Ram Niwas Meena

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R/o Village Shreenagar, Tehsil Uniyara,

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District – Tonk, Rajasthan - 304024

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2. MR. BHANWAR LAL MEENA

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S/o Sh. Badri

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R/o Village Shreenagar, Tehsil Uniyara,

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District – Tonk, Rajasthan – 304024

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……Defendants…..

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

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JUDGMENT

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This Original Application was filed by Applicant Bank against Defendants on 03.01.2022 for recovery of an amount of Rs 28,70,829 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. 278 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 were proceeded ex parte on 19.09.2022.

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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/18 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. 278 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. 28,70,829/(Rupees Twenty Eight Lac Seventy Thousand Eight Hundred Twenty Nine only) with future interest @ 9.70% p.a. (Simple) & 8.35% p.a. (Simple) from 03.01.2022 till the date of realization.

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b) The applicant bank is entitled to recover the above amount by hypothecated entire crop, live stock, stock and equitable mortgage of Agricultural Land of the borrowers as declared in Section 6(1) of the Rajasthan Agricultural Credit Operations (Removal of Difficulties) Act, 1974 admeasuring 10.1 hector or 40.01 bigha situated at village Shreenagar, Post Ranipura, Tehsil Uniyara, Distt. Tonk, Rajasthan304024 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.

OA No. 278 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 10.05.2023 .

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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 Order pronounced in the open court today i.e. 10.02.2023 . (Vivek Saxena) Presiding Officer, Debts Recovery Tribunal, Jaipur

OA No. 278 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. 278 OF 2022

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DATE OF DELIVERY OF ORDER 10.02.2023

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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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PUNJAB NATIONAL BANK

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Branch Office – Old Bus Stand, Tonk, Rajasthan and Recovery Office at Circle Sastra, 9-A, Industrial Area infront of Patrika Road, Kota, Rajasthan

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…..Applicant Bank…..

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VERSUS

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1. MR. RAM SINGH MEENA

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S/o Sh. Ram Niwas Meena

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R/o Village Shreenagar, Tehsil Uniyara,

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District – Tonk, Rajasthan - 304024

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2. MR. BHANWAR LAL MEENA

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S/o Sh. Badri

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R/o Village Shreenagar, Tehsil Uniyara,

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District – Tonk, Rajasthan – 304024

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……Defendants…..

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Recovery Certificate for Rs. 28,70,829/-

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In terms of final order dated 10.02.2023 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. 28,70,829/(Rupees Twenty Eight Lac Seventy Thousand Eight Hundred Twenty Nine only) with future interest @ 9.70% p.a. (Simple) & 8.350% p.a. (Simple) from 03.01.2022 till the date of realization.

OA No. 278 of 2022

b) The applicant bank is entitled to recover the above amount by hypothecated entire crop, live stock, stock and equitable mortgage of Agricultural Land of the borrowers as declared in Section 6(1) of the Rajasthan Agricultural Credit Operations (Removal of Difficulties) Act, 1974 admeasuring 10.1 hector or 40.01 bigha situated at village Shreenagar, Post Ranipura, Tehsil Uniyara, Distt. Tonk, Rajasthan304024 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 10.05.2023 .

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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 10.02.2023 .

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

OA No. 278 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. 278 OF 2022

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DATE OF DELIVERY OF ORDER 10.02.2023

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SCHEDULE TO RECOVERY CERTIFICATE

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MEMO OF COST

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PUNJAB NATIONAL BANK

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Branch Office – Old Bus Stand, Tonk, Rajasthan and Recovery Office at Circle Sastra, 9-A, Industrial Area infront of Patrika Road, Kota, Rajasthan

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…..Applicant Bank…..

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VERSUS

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1. MR. RAM SINGH MEENA

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S/o Sh. Ram Niwas Meena

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R/o Village Shreenagar, Tehsil Uniyara,

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District – Tonk, Rajasthan - 304024

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2. MR. BHANWAR LAL MEENA

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S/o Sh. Badri

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R/o Village Shreenagar, Tehsil Uniyara, District – Tonk, Rajasthan – 304024

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……Defendants…..

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S.No.	Item of Costs	Amount (Rs.)
1	Fee on the Application	31,000.00
2	Process Fee (Inc. Publication)	104.00
3	Advocate Fee	1,250.00
4	Commission/Receiver/Valuation	NIL
5.	Miscellaneous Charges	NIL
	Total	32,354.00

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Presiding Officer, Debts Recovery Tribunal, Jaipur

OA No. 278 of 2022

10.02.2023

Counsel: Sh. R.C. SHARMA, 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. 278 of 2022

10.02.2023

Counsel: Sh. R.C. SHARMA, Counsel for the Applicant Bank Defendants are exparte

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The Tribunal vide order dated 10.02.2023 , 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 10.02.2023 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. 278 of 2022

DEBTS RECOVERY TRIBUNAL, JAIPUR

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ORIGINAL APPLICATION NO. 278 of 2022

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The Recovery Certificate prepisd in compliance of order dated 10.02.2023 passed by Hon’ble Presiding Officer, DRT, Jaipur in Original Application No. 278 of 2022 Title Punjab National Bank Vs Mr. Ram Singh Meena & 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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Punjab National Bank v. Mr Ram Singh Meena

Case brief

What is this about?

What did the court decide?

Punjab National Bank v. Mr Ram Singh Meena

Case brief

What is this about?

What did the court decide?

What the court decided

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