Allowed

Rajasthan Marudhara Gramin Bank v. Mr Prem Prajapat

DRT17 Oct 2023OA/352/2023

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the Original Application filed by Rajasthan Marudhara Gramin Bank for recovery of dues amounting to Rs. 25,38,547/- with interest and costs. The court confirmed the joint and several liability of defendants and authorized recovery through sale of hypothecated assets and mortgaged property.

What did the court decide?

Recovery Certificate issued directing defendants to pay Rs. 25,38,547/- with future interest; recovery authorized via sale of hypothecated assets and mortgage of industrial plot.

Rajasthan Marudhara Gramin Bank versus Mr Prem Prajapat — Banking and Recovery | DRT (2023)

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“ORIGINALAPPLICATION” No.352 OF 2023

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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. 352 OF 2023

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DATE OF DELIVERY OF ORDER 17.10.2023

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RAJASTHAN MARUDHARA GRAMIN BANK

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a body corporate constituted under the provisions of the Regional Rural Banks Act, 1976, having its Head Office at Tulsi Tower, 9th B Road, Sardarpura, Jodhpur – 342003 (Rajasthan) and amongst others a Branch Goverdhan Vilas situated at 1/51, Rajasthan Housing Board Colony, Sector 14, Maine Road, Goverdhan Vilas, Udaipur – 313004 (Rajasthan) represented through its Branch Head.

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…..Applicant Bank…..

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VERSUS

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1. MRS. PREM PRAJAPAT,

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wife of Mr. Arjun Lal Prajapat, Resident of AmbamataGhati, Titardi, Udaipur – 313001 (Rajasthan)

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2. VANI RAM TELI,

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son of Mr. Sahi Ram, Resident of 147, Nagwadi, Chandpole, Udaipur – 313001 (Rajasthan)

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……Defendants…..

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Counsel for the Applicant Bank Defendants

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Shri Rajkumar Ex-Parte

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JUDGMENT

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The Applicant Bank filed this O.A. on 02.03.2023, againstthe Defendants for the recovery of a sum of Rs.25,38,547.00 withpendentelite& future interest till payment or realization.

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As per O.A., Defendants approached the Applicant Bank for financial assistance. After due consideration, an Overdraftfacilitywas sanctioned by the Applicant Bank in favour of Defendants. Defendants failed to maintain

OA No. 352 of 2023

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 and their right to file reply was closed on 26.06.2023.

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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/20 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

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In the result, this O.A. No. 352 OF 2023 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. 25,38,547/(Rupees Twenty Five Lac Thirty Eight Thousand Five Hundred Forty Seven Only) with future interest @ 10.00% p.a. (Simple) from the Defendants from 02.03.2023 till the date of realization.

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b) The applicant bank is entitled to recover the above amount by sale of hypothecated whole of the stocks, both present and future, raw materials, work-in-progress, semi-finished goods and finished goods, packing materials etc. and created mortgage of immovable property i.e., Industrial Plot admeasuring 2000 square meters comprised in Khasra No. 530 & 571 in VPO Mahuvada, Tehsil Sarada, District Udaipur bounded as-

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East-	Road
North-	Khasra No. 570 & 531
West-	Road
South-	Khasra No. 572 & 573

OA No. 352 of 2023

as well as from thepersonal movable and immovable properties/assets of Defendants, jointly and severally. 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 18.12.2023 .

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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

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Order pronounced in the open court today i.e. 17.10.2023 .

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

OA No. 352 of 2023

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

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PRESIDING OFFICER

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O.A. NO. 352 OF 2023

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DATE OF DELIVERY OF ORDER 17.10.2023

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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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RAJASTHAN MARUDHARA GRAMIN BANK

…..Applicant Bank…..

VERSUS

1. MRS. PREM PRAJAPAT,

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wife of Mr. Arjun Lal Prajapat, Resident of AmbamataGhati, Titardi, Udaipur – 313001 (Rajasthan)

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2. VANI RAM TELI,

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son of Mr. Sahi Ram, Resident of 147, Nagwadi, Chandpole, Udaipur – 313001 (Rajasthan)

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……Defendants…..

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Recovery Certificate for Rs. 25,38,547.00

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In terms of final order dated 17.10.2023 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. 25,38,547/(Rupees Twenty Five Lac Thirty Eight Thousand Five Hundred Forty Seven Only) with future interest @ 10.00% p.a. (Simple) from the Defendantsfrom 02.03.2023 till the date of realization.

OA No. 352 of 2023

b) The applicant bank is entitled to recover the above amount by sale of hypothecated whole of the stocks, both present and future, raw materials, work-in-progress, semi-finished goods and finished goods, packing materials etc. and created mortgage of immovable property i.e., Industrial Plot admeasuring 2000 square meters comprised in Khasra No. 530 & 571 in VPO Mahuvada, Tehsil Sarada, District Udaipur bounded as-

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EastRoad NorthKhasra No. 570 & 531 WestRoad SouthKhasra No. 572 & 573

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as well as from thepersonal movable and immovable properties/assets of Defendants, jointly and severally. 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 18.12.2023 .

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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 Debtors.

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This Certificate has been issued under my signatures and seal of the Tribunal on this 17.10.2023 .

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Presiding Officer, Debts Recovery Tribunal, Jaipur

OA No. 352 of 2023

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

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PRESIDING OFFICER

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O.A. NO. 352 OF 2023

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DATE OF DELIVERY OF ORDER 17.10.2023

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SCHEDULE TO RECOVERY CERTIFICATE

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MEMO OF COST

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RAJASTHAN MARUDHARA GRAMIN BANK

…..Applicant Bank…..

VERSUS

1. MRS. PREM PRAJAPAT,

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wife of Mr. Arjun Lal Prajapat, Resident of AmbamataGhati, Titardi, Udaipur – 313001 (Rajasthan)

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2. VANI RAM TELI,

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son of Mr. Sahi Ram, Resident of 147, Nagwadi, Chandpole, Udaipur – 313001 (Rajasthan)

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……Defendants…..

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S.No.	Item of Costs	Amount (Rs.)
1	Fee on the Application	28,005.00
2	Process Fee (Inc. Publication)	165.20
3	Advocate Fee	1,250.00
4	Commission/Receiver/Valuation	NIL
5.	Miscellaneous Charges	NIL
	Total	29,420.20

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

OA No. 352 of 2023

Date : 17.10.2023

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Counsel:

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Sh. RAJKUMAR, Counsel for the 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 prepared 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. 352 of 2023

Date : 17.10.2023

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Counsel:

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Sh. RAJKUMAR, Counsel for the Applicant Bank Defendants are ex-parte

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The Tribunal vide order dated 17.10.2023 , 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 17.10.2023 verified the Recovery Certificate as per Regulation 24(1) and (2) of Debts Recovery Tribunal Jaipur Regulation 2015. Recovery Certificate is prepared 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. 352 of 2023

DEBTS RECOVERY TRIBUNAL, JAIPUR

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ORIGINAL APPLICATION NO. 352 of 2023

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The Recovery Certificate prepared in compliance of order dated 17.10.2023 passed by Hon’ble Presiding Officer, DRT, Jaipur in Original Application No. 352 of 2023 Title- Rajasthan Marudhara Gramin Bank Vs Mrs. Prem Prajapat & 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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Rajasthan Marudhara Gramin Bank v. Mr Prem Prajapat

Case brief

What is this about?

What did the court decide?

Rajasthan Marudhara Gramin Bank v. Mr Prem Prajapat

Case brief

What is this about?

What did the court decide?

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