Allowed

Canara Bank v. Tarun Sharma

DRT18 Apr 2023OA/288/2022

Case brief

AI extract

What is this about?

The DRT allowed the applicant bank's original application for recovery of Rs 40.73 lakh dues. The court held defendants jointly liable and issued a recovery certificate permitting sale of mortgaged property and recovery from other assets.

What did the court decide?

Declaration of joint liability to pay Rs 40,73,366.15 with interest; issuance of recovery certificate authorizing sale of mortgaged property and recovery by Recovery Officer.

Canara Bank versus Tarun Sharma — Execution and Attachment | DRT (2023)

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“ORIGINALAPPLICATION” No. 288 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. 288 OF 2022

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DATE OF DELIVERY OF ORDER 18.04.2023

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CANARA BANK

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Branch office – Tulsi Circle, Gajner Road, Bikaner

…..Applicant Bank…..

VERSUS

1. TARUN SHARMA

S/o Mr. Ghanshyam Das Jajra,

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R/o Near Shanti Bal Bharti Niketan School,

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Behind Maheshwari Bhawan, Brahamino Ka Mohalla,

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New Line, Ganga Shahar, Bikaner,

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AND

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Near SBN School, New Line, Gangashahar,

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Bikaner

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2. MRS KAUSHLYA SHARMA

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W/o Mr. Tarun Sharma

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R/o R/o Near Shanti Bal Bharti Niketan School,

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Behind Maheshwari Bhawan, Brahamino Ka Mohalla,

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New Line, Ganga Shahar, Bikaner,

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3. NAND KISHORE JAJRA

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S/o Mr. Ghanshyam Das Jajra,

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R/o Near Shanti Bal Bharti Niketan School,

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Behind Maheshwari Bhawan, Brahamino Ka Mohalla,

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New Line, Ganga Shahar, Bikaner

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……Defendants…..

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Counsel for the Applicant Bank Sh. Raj Kumar Defendants Ex parte

OA No. 288 of 2022

JUDGMENT

This Original Application was filed by Applicant Bank against Defendants on 17.12.2021 for recovery of an amount of Rs 40,73,366.15 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 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 12.10.2022

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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/11 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. 288 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. 40,73,366.15 (Rupees Forty Lac Seventy Three Thousand Three Hundred Sixty Six and Fifteen Paisa only) with future interest @ 8.80% p.a. (Simple) from 17.12.2021 till the date of realization.

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b) The applicant bank is entitled to recover the above amount by sale of mortgaged property – Residential House situated at New Lane, Ganga Shahar, Bikaner (Rajasthan) admeasuring 588 Sq. Yards (1 Sq. Yards

OA No. 288 of 2022

= 2’ x 2’} having boundaries in North at House of Jamna Devi, South at House of Dungar Ram, East at Road and West at House of Magh Ji Barhamin.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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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 18.07.2023 .

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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 Order pronounced in the open court today i.e. 18.04.2023 . (Vivek Saxena) Presiding Officer, Debts Recovery Tribunal, Jaipur

OA No. 288 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. 288 OF 2022

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DATE OF DELIVERY OF ORDER 18.04.2023

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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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CANARA BANK

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Branch office – Tulsi Circle, Gajner Road, Bikaner

…..Applicant Bank…..

VERSUS

1. TARUN SHARMA

S/o Mr. Ghanshyam Das Jajra,

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R/o Near Shanti Bal Bharti Niketan School,

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Behind Maheshwari Bhawan, Brahamino Ka Mohalla, New Line, Ganga Shahar, Bikaner,

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AND

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Near SBN School, New Line, Gangashahar,

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Bikaner

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2. MRS KAUSHLYA SHARMA

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W/o Mr. Tarun Sharma

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R/o R/o Near Shanti Bal Bharti Niketan School, Behind Maheshwari Bhawan, Brahamino Ka Mohalla, New Line, Ganga Shahar, Bikaner,

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3. NAND KISHORE JAJRA

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S/o Mr. Ghanshyam Das Jajra,

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R/o Near Shanti Bal Bharti Niketan School,

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Behind Maheshwari Bhawan, Brahamino Ka Mohalla, New Line, Ganga Shahar, Bikaner

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……Defendants…..

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Recovery Certificate for Rs. 40,73,366.15

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In terms of final order dated 18.04.2023 passed by this Tribunal in the above mentioned case, it is ordered that the-

OA No. 288 of 2022

a) The Defendants are jointly & severally liable to pay to the applicant bank a sum of Rs. 40,73,366.15 (Rupees Forty Lac Seventy Three Thousand Three Hundred Sixty Six and Fifteen Paisa only) with future interest @ 8.80% p.a. (Simple) from 17.12.2021 till the date of realization.

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b) The applicant bank is entitled to recover the above amount by sale of mortgaged property – Residential House situated at New Lane, Ganga Shahar, Bikaner (Rajasthan) admeasuring 588 Sq. Yards (1 Sq. Yards = 2’ x 2’} having boundaries in North at House of Jamna Devi, South at House of Dungar Ram, East at Road and West at House of Magh Ji Barhamin.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 18.07.2023 .

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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 18.04.2023 .

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

OA No. 288 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. 288 OF 2022

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DATE OF DELIVERY OF ORDER 18.04.2023

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SCHEDULE TO RECOVERY CERTIFICATE

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MEMO OF COST

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CANARA BANK

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Branch office – Tulsi Circle, Gajner Road, Bikaner

…..Applicant Bank…..

VERSUS

1. TARUN SHARMA

S/o Mr. Ghanshyam Das Jajra,

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R/o Near Shanti Bal Bharti Niketan School,

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Behind Maheshwari Bhawan, Brahamino Ka Mohalla,

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New Line, Ganga Shahar, Bikaner,

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AND

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Near SBN School, New Line, Gangashahar,

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Bikaner

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2. MRS KAUSHLYA SHARMA

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W/o Mr. Tarun Sharma

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R/o R/o Near Shanti Bal Bharti Niketan School,

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Behind Maheshwari Bhawan, Brahamino Ka Mohalla, New Line, Ganga Shahar, Bikaner,

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3. NAND KISHORE JAJRA

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S/o Mr. Ghanshyam Das Jajra,

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R/o Near Shanti Bal Bharti Niketan School,

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Behind Maheshwari Bhawan, Brahamino Ka Mohalla, New Line, Ganga Shahar, Bikaner

……Defendants…..

OA No. 288 of 2022

S.No.	Item of Costs	Amount (Rs.)
1	Fee on the Application	43,000.00
2	Process Fee (Inc. Publication)	379.00
3	Advocate Fee	1,250.00
4	Commission/Receiver/Valuation	NIL
5.	Miscellaneous Charges	NIL
	Total	44,629.00

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Presiding Officer, Debts Recovery Tribunal, Jaipur

OA No. 288 of 2022

18.04.2023

Counsel: Sh. Raj Kumar, Counsel for Applicant Bank Defendants 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. 288 of 2022

18.04.2023

Counsel: Sh. Raj Kumar, Counsel for Applicant Bank Defendants are ex parte

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The Tribunal vide order dated 18.04.2023 , 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 18.04.2023 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. 288 of 2022

DEBTS RECOVERY TRIBUNAL, JAIPUR

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ORIGINAL APPLICATION NO. 288 of 2022

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The Recovery Certificate prepisd in compliance of order dated 18.04.2023 passed by Hon’ble Presiding Officer, DRT, Jaipur in Original Application No. 288 of 2022 Title Canara Bank Vs Tarun Sharma & 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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Canara Bank v. Tarun Sharma

Case brief

What is this about?

What did the court decide?

Canara Bank v. Tarun Sharma

Case brief

What is this about?

What did the court decide?

What the court decided

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