Allowed

Canara Bank v. Bhati Tyers

DRT15 Jun 2023OA/432/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an original application filed by Canara Bank for recovery of an outstanding loan amount of Rs. 1.26 crore plus future interest from the respondents, jointly and severally liable, and directed the issue of a recovery certificate.

What did the court decide?

Respondents held jointly and severally liable to pay Rs. 1,26,65,994.58 with future interest; order dated 15.06.2023 directed the issuance of a Recovery Certificate.

Canara Bank versus Bhati Tyers — Execution and Attachment | DRT (2023)

¶1

“ORIGINALAPPLICATION” No. 432 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. 432 OF 2022

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DATE OF DELIVERY OF ORDER 15.06.2023

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CANARA BANK

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Branch Office – Gajner Road, Tulsi Circle, Bikaner, Rajasthan - 334001

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…..Applicant Bank…..

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VERSUS

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1. M/S BHATI TYRES

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A proprietorship firm through its Proprietor Sh. Shahid Bhati S/o Mohammed Ishaq Bhati, Bhutto Ka Choraha, Gajner Road, Bikaner

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2. SH. SHAHID BHATI

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S/o Mohammed Ishaq Bhati,

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Proprietor of M/s Bhati Tyres,

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R/o Bhutto Ka Choraha, Gajner Road, Bikaner

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3. MRS. TABBASUM BHATI

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W/o Sh. Sazid Ali Bhati,

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R/o F-17, Samta Nagar, Ganga Nagar Road,

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Bikaner

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4. MRS. MARIYAM

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W/o Mohammed Ishaq Bhati

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R/o F-17, Samta Nagar, Ganga Nagar Road,

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Bikaner

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5. SH. ADIL BHATI

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S/o Sh. Sazid Ali Bhati

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R/o F-17, Samta Nagar, Ganga Nagar Road,

Bikaner

……Defendants…..

OA No. 432 of 2022

Counsel for the Applicant Bank Sh. Anil Kumar Sharma None for the Defendants

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JUDGMENT

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This Original Application was filed by the applicant bank on 31.03.2022 for recovery of outstanding amount of Rs. 1,26,65,994.58 from the Defendants.

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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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None appeared on behalf of the Defendants.

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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/57 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. 432 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. 1,26,65,994.58 (Rupees One Crore Twenty Six Lac Sixty Five Thousand Nine Hundred Ninety Four and Fifty Eight Paisa only) with future interest @ 12.75% p.a. for SODH credit facility, @ 9.10% p.a. for Term

OA No. 432 of 2022

Loan and @ 10.05% p.a. for SME Term Loan from 31.03.2022 till the date of realization.

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b) The applicant bank is entitled to recover the above amount by sale of mortgaged properties – 1) Plot No. 49, Khasra No. 145 & 150, Village Udasar, Vaishno Vihar, Block B, Bikaner, 2) at Bhutto Ka Chourah, Bikaner and 3) Plot No. F-17, Samta Nagar, Bikaner 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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1. 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 15.09.2023 .

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

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Order pronounced in the open court today i.e. 15.06.2023 .

OA No. 432 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. 432 OF 2022

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DATE OF DELIVERY OF ORDER 15.06.2023

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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 – Gajner Road, Tulsi Circle, Bikaner, Rajasthan - 334001

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…..Applicant Bank…..

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VERSUS

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1. M/S BHATI TYRES

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A proprietorship firm through its Proprietor Sh. Shahid Bhati S/o Mohammed Ishaq Bhati, Bhutto Ka Choraha, Gajner Road, Bikaner

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2. SH. SHAHID BHATI

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S/o Mohammed Ishaq Bhati,

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Proprietor of M/s Bhati Tyres,

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R/o Bhutto Ka Choraha, Gajner Road, Bikaner

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3. MRS. TABBASUM BHATI

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W/o Sh. Sazid Ali Bhati,

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R/o F-17, Samta Nagar, Ganga Nagar Road,

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Bikaner

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4. MRS. MARIYAM

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W/o Mohammed Ishaq Bhati

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R/o F-17, Samta Nagar, Ganga Nagar Road,

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Bikaner

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5. SH. ADIL BHATI

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S/o Sh. Sazid Ali Bhati

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R/o F-17, Samta Nagar, Ganga Nagar Road,

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Bikaner

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……Defendants…..

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Recovery Certificate for Rs. 1,26,65,994.58

OA No. 432 of 2022

In terms of final order dated 15.06.2023 passed by this Tribunal in the above mentioned case, it is ordered that the-

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a) The Defendants are jointly & severally liable to pay to the applicant bank a sum of Rs. 1,26,65,994.58 (Rupees One Crore Twenty Six Lac Sixty Five Thousand Nine Hundred Ninety Four and Fifty Eight Paisa only) with future interest @ 12.75% p.a. for SODH credit facility, @ 9.10% p.a. for Term Loan and @ 10.05% p.a. for SME Term Loan from 31.03.2022 till the date of realization.

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b) The applicant bank is entitled to recover the above amount by sale of mortgaged properties – 1) Plot No. 49, Khasra No. 145 & 150, Village Udasar, Vaishno Vihar, Block B, Bikaner, 2) at Bhutto Ka Chourah, Bikaner and 3) Plot No. F-17, Samta Nagar, Bikaner 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 15.09.2023 .

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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 15.06.2023 .

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

OA No. 432 of 2022

BEFORE THE DEBTS RECOVERY TRIBUNAL, JAIPUR

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PRESENT- SHRI VIVEK SAXENA

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PRESIDING OFFICER

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O.A. NO. 432 OF 2022

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DATE OF DELIVERY OF ORDER 15.06.2023

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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 – Gajner Road, Tulsi Circle, Bikaner, Rajasthan - 334001

¶109

…..Applicant Bank…..

¶110

VERSUS

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1. M/S BHATI TYRES

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A proprietorship firm through its Proprietor Sh. Shahid Bhati S/o Mohammed Ishaq Bhati, Bhutto Ka Choraha, Gajner Road, Bikaner

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2. SH. SHAHID BHATI

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S/o Mohammed Ishaq Bhati,

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Proprietor of M/s Bhati Tyres,

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R/o Bhutto Ka Choraha, Gajner Road, Bikaner

¶117

3. MRS. TABBASUM BHATI

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W/o Sh. Sazid Ali Bhati,

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R/o F-17, Samta Nagar, Ganga Nagar Road,

¶120

Bikaner

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4. MRS. MARIYAM

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W/o Mohammed Ishaq Bhati

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R/o F-17, Samta Nagar, Ganga Nagar Road,

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Bikaner

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5. SH. ADIL BHATI

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S/o Sh. Sazid Ali Bhati

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R/o F-17, Samta Nagar, Ganga Nagar Road,

Bikaner

……Defendants…..

OA No. 432 of 2022

S.No.	Item of Costs	Amount (Rs.)
1	Fee on the Application	1,29,005.00
2	Process Fee (Inc. Publication)	515.00
3	Advocate Fee	1,250.00
4	Commission/Receiver/Valuation	NIL
5.	Miscellaneous Charges	NIL
	Total	1,30,770.00

¶134

Presiding Officer, Debts Recovery Tribunal, Jaipur

OA No. 432 of 2022

15.06.2023

Counsel: Sh. Anil K. Sharma, Counsel for Applicant Bank None for the Defendants

¶140

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. 432 of 2022

15.06.2023

Counsel:

Sh. Anil K. Sharma, Counsel for Applicant Bank None for the Defendants

¶148

The Tribunal vide order dated 15.06.2023 , 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 15.06.2023 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.

¶150

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

OA No. 432 of 2022

DEBTS RECOVERY TRIBUNAL, JAIPUR

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ORIGINAL APPLICATION NO. 432 of 2022

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The Recovery Certificate prepisd in compliance of order dated 15.06.2023 passed by Hon’ble Presiding Officer, DRT, Jaipur in Original Application No. 432 of 2022 Title Canara Bank Vs Bhati Tyres & 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. Bhati Tyers

Case brief

What is this about?

What did the court decide?

Canara Bank v. Bhati Tyers

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

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Case details

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