Allowed

Bank of Baroda v. M/S Shree Palariya Events and Decorators

DRT19 May 2023OA/316/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the original application filed by Bank of Baroda for recovery of Rs. 22,33,217/- with interest against the defaulting loan account holders. The court held the respondents jointly and severally liable and directed the issuance of a recovery certificate.

What did the court decide?

Declaration of joint and several liability to pay Rs. 22,33,217/- with 12% p.a. interest; recovery via sale of assets; issuance of recovery certificate; costs awarded.

Bank of Baroda versus M/S Shree Palariya Events and Decorators — Banking and Recovery | DRT (2023)

¶1

“ORIGINALAPPLICATION” No. 316 of 2022

¶2

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

¶3

PRESIDING OFFICER

¶4

O.A. NO. 316 OF 2022

¶5

DATE OF DELIVERY OF ORDER 19.05.2023

¶6

BANK OF BARODA

¶7

Branch – Savitri Girls School Branch, Ajmer- 305001 (Rajasthan)

¶8

…..Applicant Bank…..

¶9

VERSUS

¶10

1. M/S SHREE PALARIYA EVENTS & DECORATORS Office – 437/43, Behind Jaisalmer House, Gulab Bari, Kalyanipura Road, Ajmer – 305001 (Rajasthan) through its proprietor Mrs. Bhawna Chouhan W/o Mr. Dinesh Tak

¶11

2. MRS. BHAWNA CHOUHAN

¶12

W/o Mr. Dinesh Tak, R/o House No. 144, Kalyanipura Road, Ajmer - 305001

¶13

……Defendants…..

¶14

Counsel for the Applicant Bank Sh. Harjeet Sharma Defendants Ex parte

¶15

JUDGMENT

¶16

This Original Application was filed by Applicant Bank against Defendants on 22.02.2022 for recovery of an amount of Rs 22,33,217/- with pendentlite and future interest and cost.

¶17

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

OA No. 316 of 2022

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.

¶22

Defendants is proceeded ex parte on 08.09.2022.

¶23

¶24

Heard arguments and perused the record.

¶25

As stated supra, the Applicant Bank filed the evidence affidavit coupled with the recitals in the documents, viz Exhibit A/1 to A/28 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.

¶26

In the result, this O.A. No. 316 of 2022 is allowed declaring that:-

¶27

a) The Defendants are jointly & severally liable to pay to the applicant bank a sum of Rs. 22,33,217/- (Rupees Twenty Two Lac Thirty Three Thousand Two Hundred Seventeen only) with future interest at the rate of 12% p.a. (Simple) from 22.02.2022 till the date of realization.

¶28

b) The applicant bank is entitled to recover the above amount by sale of hypothecated assets 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.

¶29

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

¶30

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

¶31

Parties are directed to appear before the Recovery Officer, DRT, Jaipur on 19.08.2023 .

OA No. 316 of 2022

Prepare Recovery Certificate accordingly.

¶36

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.

¶37

(Vivek Saxena) Presiding Officer, Debts Recovery Tribunal, Jaipur Order pronounced in the open court today i.e. 19.05.2023 . (Vivek Saxena) Presiding Officer, Debts Recovery Tribunal, Jaipur

OA No. 316 of 2022

BEFORE THE DEBTS RECOVERY TRIBUNAL, JAIPUR

¶42

PRESENT- SHRI VIVEK SAXENA

¶43

PRESIDING OFFICER

¶44

O.A. NO. 316 OF 2022

¶45

DATE OF DELIVERY OF ORDER 19.05.2023

¶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

BANK OF BARODA

¶49

Branch – Savitri Girls School Branch,

¶50

Ajmer- 305001 (Rajasthan)

…..Applicant Bank…..

VERSUS

2. MRS. BHAWNA CHOUHAN W/o Mr. Dinesh Tak, R/o House No. 144, Kalyanipura Road, Ajmer - 305001

¶55

……Defendants…..

¶56

Recovery Certificate for Rs. 22,33,217/-

¶57

In terms of final order dated 19.05.2023 passed by this Tribunal in the above mentioned case, it is ordered that the-

¶58

a) The Defendants are jointly & severally liable to pay to the applicant bank a sum of Rs. 22,33,217/- (Rupees Twenty Two Lac Thirty Three Thousand Two Hundred Seventeen only) with future interest at the rate of 12% p.a. (Simple) from 22.02.2022 till the date of realization.

OA No. 316 of 2022

b) The applicant bank is entitled to recover the above amount by sale of hypothecated assets 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.

¶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 19.08.2023 .

¶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 19.05.2023 .

¶67

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

OA No. 316 of 2022

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

¶72

PRESIDING OFFICER

¶73

O.A. NO. 316 OF 2022

¶74

DATE OF DELIVERY OF ORDER 19.05.2023

¶75

SCHEDULE TO RECOVERY CERTIFICATE

¶76

MEMO OF COST

¶77

BANK OF BARODA

¶78

Branch – Savitri Girls School Branch, Ajmer- 305001 (Rajasthan)

…..Applicant Bank…..

VERSUS

2. MRS. BHAWNA CHOUHAN W/o Mr. Dinesh Tak, R/o House No. 144, Kalyanipura Road, Ajmer - 305001

¶83

……Defendants…..

¶84

S.No.	Item of Costs	Amount (Rs.)
1	Fee on the Application	25,005.00
2	Process Fee (Inc. Publication)	620.00
3	Advocate Fee	1,250.00
4	Commission/Receiver/Valuation	NIL
5.	Miscellaneous Charges	NIL
	Total	26,875.00

¶85

Presiding Officer, Debts Recovery Tribunal, Jaipur

OA No. 316 of 2022

19.05.2023

Counsel: Sh. Harjeet Sharma, Counsel for Applicant Bank Defendants are ex parte

¶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. 316 of 2022

19.05.2023

Counsel:

Sh. Harjeet Sharma, Counsel for Applicant Bank Defendants are ex parte

¶99

The Tribunal vide order dated 19.05.2023 , 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 19.05.2023 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. 316 of 2022

DEBTS RECOVERY TRIBUNAL, JAIPUR

¶106

ORIGINAL APPLICATION NO. 316 of 2022

¶107

The Recovery Certificate prepisd in compliance of order dated 19.05.2023 passed by Hon’ble Presiding Officer, DRT, Jaipur in Original Application No. 316 of 2022 Title Bank of India Vs M/s Palariya Events & Decorators & Anr. 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

Bank of Baroda v. M/S Shree Palariya Events and Decorators

Case brief

What is this about?

What did the court decide?

Bank of Baroda v. M/S Shree Palariya Events and Decorators

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

Icici Bank Limited versus M/S Chai Bazaar

Dharmendra Kumar Sharma versus LIC Housing Finance Ltd.

Soma Devi versus Aavas Financiers Ltd.

State Bank of India versus M/ S Bhagwati Industries

Surendra Singh Inda versus Cholamandalam Investment and Finance Company Limited

Hdfc Bank versus Harphool Yadav