The Debt Recovery Tribunal allowed an application for recovery of a loan indebtedness with interest and costs, granting a decree against the borrowers and guarantors, and authorizing the issuance of a recovery certificate.
Decree for payment of Rs. 52,39,138.00 with 12% p.a. simple interest; recovery certificate issued; injunction against alienating properties.
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DEBTS RECOVERY TR!BUNAL JABALPUR
(for the States of Madhya Pradesh and Chhattisgarh)
(Presiding Officer - Hon'bte Shri Ram Niwas Patet)
Original Application No. - 395/22
lndian Bank,
(erstwhi[e Attahabad Bank)
T.T. Nagar, Bhopat (M.P.)462003
Appticant
Versus
(Att R/o 9 & 10, Khanuja Enclave, E-9, Arera Colony, Bhopal, M.P. 482016) Defendants
Counsel for the Appticant : Shri Rajendra Singh Parmar, Advocate Defendants : Ex-parte
JUDGMENT
(Dated : 22nd August, 2023)
2
oA39s/22
and atso executed Letter of Acknowtedgment of Debt on31 /03119. The account became irregutar and the Defendants faited to tiquidate the outstanding dues despite initiation of action under the Securitisation Actby the Appticant Bank. The Appticant-Bank has retied upon the documents at Ex. A-1 to A-18 which were proved by Shri Akanksha Tiwari, Branch Manager.
i) The Defendants do payjointty and severatly Rs. 52,39,138.00 (Rupees Fifty Two Lac, Thirty Nine Thousand, One Hundred and Thirty Eight onty) together with pendente[ite and future interest @12% per annum simple from the date of fiting of the OA, i.e.,23/03/22, with costs titt its realization.
ii) The Appticant Bank is entitted to setl the mortgaged as wetl as personal properties and assets of the Defendants for realization of its dues. The Defendants are hereby restrained by means of injunction from depteting, transferring, encumbering, alienating or in any way dealing with their properties/assets without first paying the claim of the Applicant Bank.
iii) A Recovery Certificate be issued uls 19(22) of Recovery of Debts and Bankruptcy Act. The applicant bank may fite a memo of cost within 7 days for preparing Recovery Certificate.
Judgment pronounced in the open court on this Day of 22nd August, 2023.
//'1 1t'\ 9o/a< I lxamfliwasPatet) Presidin Officer
1 issue framed by the court
Whether the applicants bank was entitled to recovery of dues along with interest under the Recovery of Debts and Bankruptcy Act.
3 provisions across 2 enactments
Indian Bank
Shri Paramjeet Singh Khanuja
Smt. Ravinder Kaur Khanuja
Shri Surjeet Singh Khanuja
Smt. Pritam Kaur
Ram Niwas Patet
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
