Allowed

State Bank of India v. Mr Resham Singh

DRT23 Jan 2023OA/282/2022

Case brief

AI extract

What is this about?

The Tribunal allowed the original application filed by State Bank of India against Mr. Resham Singh for recovery of dues totaling Rs 33,56,313.31 with interest. A recovery certificate was issued directing recovery through sale of mortgaged properties.

What did the court decide?

Recovery of Rs. 33,56,313.31 with interest via sale of mortgaged properties and other assets; issuance of recovery certificate.

State Bank of India versus Mr Resham Singh — Banking and Recovery | DRT (2023)

¶1

“ORIGINALAPPLICATION” No. 282 of 2022

¶2

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

¶3

PRESIDING OFFICER

¶4

O.A. NO. 282 OF 2022

¶5

DATE OF DELIVERY OF ORDER 23.01.2023

¶6

STATE BANK OF INDIA

¶7

Branch Office – SARB, 3^rd Floor, Matrix Mall, Sector 4, Jawahar Nagar, Jaipur (Raj.)

…..Applicant Bank…..

VERSUS

MR. RESHAM SINGH

S/o Mr. Bhagwan Singh Ward No. 09, Mehtab Colony, 2 STR Gharsana, Sriganganagar (Raj.) 335001 Village Doradas, PO – Binjusar, Distt. Jhujhunu (Raj.) 333012

¶12

……Defendant…..

¶13

Counsel for the Applicant Bank Shri Jhabar Swami Defendant Shri Kalvardhan Singh Bhati

¶14

JUDGMENT

¶15

This Original Application was filed by Applicant Bank against Defendant on 22.02.2022 for recovery of an amount of Rs 33,56,313.31 with pendentlite and future interest and cost.

¶16

As per O.A., Defendant approached the Applicant Bank for financial assistance. After due consideration, credit facility was sanctioned by the Applicant Bank in favour of Defendant. Defendant failed to maintain financial discipline and therefore, their loan account was classified as

OA No. 282 of 2022

NPA. Applicant Bank has therefore, filed this original application for recovery of its dues against the Defendant.

¶21

Defendant failed to file reply to the OA, therefore, their right to file reply closed on 14.11.2022.

¶22

¶23

Heard arguments and perused the record.

¶24

As stated supra, the Applicant Bank filed the evidence affidavit coupled with the recitals in the documents, viz Exhibit A/1 to A/15 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.

¶25

In the result, this O.A. No. 282 of 2022 is allowed declaring that:-

¶26

a) The Defendant is liable to pay to the applicant bank a sum of Rs. 33,56,313.31 (Rupees Thirty Three Lac Fifty Six Thousand Three Hundred Thirteen and Thirty One Paisa only) with future interest @ 10.60% p.a. (Simple) in KCC Loan Account, @ 13% p.a. (Simple) in Xpress Credit Facility Account and @10.70% p.a. (Simple) in Term Loan Account from 22.02.2022 till the date of realization.

¶27

b) The applicant bank is entitled to recover the above amount by sale of hypothecated crops and mortgaged property – Agriculture Land – Kh No. 34, M.No. 66, P.No. 187/16 Area 2.530 Hectare & Kh. No. 01, M.No. 97, P.No. 168/7 Area 2.505 Hectare situated at Village Chak 2 FM 10 DD, Tehsil Gharsana, Distt. Sriganganagar (Raj.) total admeasuring 5.035 Hectare 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.

OA No. 282 of 2022

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

¶32

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

¶33

Parties are directed to appear before the Recovery Officer, DRT, Jaipur on 24.04.2023 .

¶34

Prepare Recovery Certificate accordingly.

¶35

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.

¶36

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

¶37

Order pronounced in the open court today i.e. 23.01.2023 .

¶38

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

OA No. 282 of 2022

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

¶43

PRESIDING OFFICER

¶44

O.A. NO. 282 OF 2022

¶45

DATE OF DELIVERY OF ORDER 23.01.2023

¶46

RECOVERY CERTIFICATE

¶47

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

¶48

STATE BANK OF INDIA

¶49

Branch Office – SARB, 3^rd Floor, Matrix Mall, Sector 4, Jawahar Nagar, Jaipur (Raj.)

…..Applicant Bank…..

VERSUS

MR. RESHAM SINGH

S/o Mr. Bhagwan Singh Ward No. 09, Mehtab Colony, 2 STR Gharsana, Sriganganagar (Raj.) 335001 Village Doradas, PO – Binjusar, Distt. Jhujhunu (Raj.) 333012

¶54

……Defendant…..

¶55

Recovery Certificate for Rs. 33,56,313.31

¶56

In terms of final order dated 23.01.2023 passed by this Tribunal in the above mentioned case, it is ordered that the-

¶57

a) The Defendant is liable to pay to the applicant bank a sum of Rs. 33,56,313.31 (Rupees Thirty Three Lac Fifty Six Thousand Three Hundred Thirteen and Thirty One Paisa only) with future interest @ 10.60% p.a. (Simple) in KCC Loan Account, @ 13% p.a. (Simple) in Xpress Credit Facility Account and

OA No. 282 of 2022

@10.70% p.a. (Simple) in Term Loan Account from 22.02.2022 till the date of realization.

¶62

b) The applicant bank is entitled to recover the above amount by sale of hypothecated crops and mortgaged property – Agriculture Land – Kh No. 34, M.No. 66, P.No. 187/16 Area 2.530 Hectare & Kh. No. 01, M.No. 97, P.No. 168/7 Area 2.505 Hectare situated at Village Chak 2 FM 10 DD, Tehsil Gharsana, Distt. Sriganganagar (Raj.) total admeasuring 5.035 Hectare 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.

¶63

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

¶64

Parties are directed to appear before the Recovery Officer, DRT, Jaipur on 24.04.2023 .

¶65

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.

¶66

This Certificate has been issued under my signatures and seal of the Tribunal on this 23.01.2023 .

¶67

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

OA No. 282 of 2022

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

¶72

PRESIDING OFFICER

¶73

O.A. NO. 282 OF 2022

¶74

DATE OF DELIVERY OF ORDER 23.01.2023

¶75

SCHEDULE TO RECOVERY CERTIFICATE

¶76

MEMO OF COST

¶77

STATE BANK OF INDIA

¶78

Branch Office – SARB, 3^rd Floor, Matrix Mall, Sector 4, Jawahar Nagar, Jaipur (Raj.)

¶79

…..Applicant Bank…..

¶80

VERSUS

¶81

MR. RESHAM SINGH S/o Mr. Bhagwan Singh Ward No. 09, Mehtab Colony, 2 STR Gharsana, Sriganganagar (Raj.) 335001 Village Doradas, PO – Binjusar, Distt. Jhujhunu (Raj.) 333012

¶82

……Defendant…..

¶83

S.No.	Item of Costs	Amount (Rs.)
1	Fee on the Application	36,000.00
2	Process Fee (Inc. Publication)	76.00
3	Advocate Fee	1,250.00
4	Commission/Receiver/Valuation	NIL
5.	Miscellaneous Charges	NIL
	Total	37,326.00

¶84

Presiding Officer, Debts Recovery Tribunal, Jaipur

OA No. 282 of 2022

23.01.2023

Counsel:

Sh. JHABAR SWAMI, Counsel for the Applicant Bank Sh. KALVARDHAN SINGH BHATI, Counsel for Defendants

¶91

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.

¶92

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

OA No. 282 of 2022

23.01.2023

Counsel:

Sh. JHABAR SWAMI, Counsel for the Applicant Bank Sh. KALVARDHAN SINGH BHATI, Counsel for Defendants

¶99

The Tribunal vide order dated 23.01.2023 , directed the Registrar to verify the Recovery Certificate as per Regulation 24(1) and (2) of Debts Recovery Tribunal Jaipur Regulation 2015.

¶100

The Registrar vide order dated 23.01.2023 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.

¶101

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

OA No. 282 of 2022

DEBTS RECOVERY TRIBUNAL, JAIPUR

¶106

ORIGINAL APPLICATION NO. 282 of 2022

¶107

The Recovery Certificate prepisd in compliance of order dated 23.01.2023 passed by Hon’ble Presiding Officer, DRT, Jaipur in Original Application No. 282 of 2022 Title State Bank of India Vs Mr. Resham Singh has been checked and may be verified.

¶108

Section Officer

¶109

Assistant Registrar

¶110

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.

¶111

Assistant Registrar

¶112

Hon’ble Presiding Officer

¶113

State Bank of India v. Mr Resham Singh

Case brief

What is this about?

What did the court decide?

State Bank of India v. Mr Resham Singh

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

Yes Bank versus Sherawali Earthmovers

Kotak Mahindra Bank Limited versus M S Jagdish Pulses

Hdfc Bank versus M S Ramanand Agarwal

Punjab National Bank versus Shri Shravan Lal Jat

Punjab National Bank versus M/S Green Farm Bio-Gen Limited

State Bank of India versus M/S Kawadiya Sanitary