The Debts Recovery Tribunal allowed the applicant bank's application under Section 19 of the RDB Act for recovery of Rs. 2.43 crores and interest. The court held the bank proved its case and ordered a Recovery Certificate to be issued.
Application allowed with costs; Recovery Certificate to be issued; Appeal against this order is barred.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
IN THE DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH
BEFORE: A S NARANG, PRESIDING OFFICER
OA No: 396/2022 Date of Institution: 10.12.2021 Date of Decision: 14.03.2023
Bank of India, one of its Branches at Sutlej Market, Police Lines Road, Jalandhar City.
Vs.
……….Defendants
Advocates
Ms. Neha Arora, proxy Counsel for Sh. K.P.S. Dhillon, Counsel for the applicant bank.
Defendants – ex parte
OA for the Recovery of Rs.2,43,95,539/- with interest @9.90% per annum with half yearly rests from 10.12.2021.
ORDER
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(fully detailed in para No.5(vi) and 5(ix) of the application). The loan was chargeable to interest @9.90% per annum with half yearly rests. On 10.12.2021, a sum of Rs.2,43,95,539/- was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.
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Pronounced in the open court. (A S Narang) Dated: 14.03.2023 Presiding Officer DRT-1, Chandigarh Pankaj
2 issues framed by the court
Whether the applicant bank established the recovery of dues as per the arrears claimed.
Whether the application for recovery of the remaining loan amount along with interest be allowed.
2 provisions across 1 enactments
Bank of India
Sh. Chanchal Singh
Sh. Mohinder Singh
A S NARANG
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
