Allowed

State Bank of India v. M/S Bhagirath and Company

DRT17 Jan 2023OA/448/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal adjudicated an Original Application filed by State Bank of India for recovery of a loan of Rs. 37,39,462/-. The court held the respondents jointly and severally liable and allowed the application with interest and costs, directing the issuance of a Recovery Certificate for enforcement through sale of assets.

What did the court decide?

Declaration that respondents are jointly and severally liable to pay Rs. 37,39,462/- with interest; Recovery Certificate issued for recovery via sale of mortgaged and personal properties; costs awarde

State Bank of India versus M/S Bhagirath and Company — Execution and Attachment | DRT (2023)

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“ORIGINALAPPLICATION” No. 448 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. 448 OF 2022

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DATE OF DELIVERY OF ORDER 17.01.2023

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STATE BANK OF INDIA

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Branch Office – 3^rd Floor, Matrix Mall, Sector-4, Jawaharnagar, Jaipur - 302204

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…..Applicant Bank…..

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VERSUS

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1. M/S BHAGIRATH & COMPANY

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Through its Proprietor

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Sh. Bhagirath Bishnoi S/o Sh. Jeevan Ram Bishnoi

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Shop Address – Shop No. 20, Krishi Upaj Mandi, Bajju,

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Tehsil – Kolayat, Dist. Bikaner 334305

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2. SH. BHAGIRATH BISHNOI

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S/o Jeevan Ram Bishnoi

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Proprietor of M/s Bhagirath & Company

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R/o Village Mithariya, Saharano Ka Bass,

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Tehsil – Kolayat, Distt. Bikaner 334305 (Raj.)

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3. SH. RAM KUMAR ALIAS RAM KANWAR BISHNOI S/o Jeevan Ram Bishnoi

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R/o Village Mithariya, Saharano Ka Bass,

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Tehsil – Kolayat, Distt. Bikaner 334305 (Raj.)

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……Defendants…..

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Counsel for the Applicant Bank Shri Jayant Vaze Defendants Ex parte

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JUDGMENT

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This Original Application was filed by Applicant Bank against Defendants on 31.03.2022 for recovery of an

OA No. 448 of 2022

amount of Rs 37,39,462/- with pendentlite and future interest and cost.

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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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Defendants were proceeded ex parte on 04.10.2022.

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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/27 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. 448 of 2022 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. 37,39,462/(Rupees Thirty Seven Lac Thirty Nine Thousand Four Hundred Sixty Two Only) with future interest @ 14.75% p.a. (Simple) 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 hypothecated assets and mortgaged property – Residential Plot at admeasuring 12256 Varga Gaj Village Mithariya, Saharano Ka Bass, Tehsil – Kolayat, Dist. Bikaner 334305 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.

OA No. 448 of 2022

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 17.04.2023 .

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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. 17.01.2023 .

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

OA No. 448 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. 448 OF 2022

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DATE OF DELIVERY OF ORDER 17.01.2023

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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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STATE BANK OF INDIA

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Branch Office – 3^rd Floor, Matrix Mall, Sector-4, Jawaharnagar, Jaipur - 302204

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…..Applicant Bank…..

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VERSUS

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1. M/S BHAGIRATH & COMPANY

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Through its Proprietor

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Sh. Bhagirath Bishnoi S/o Sh. Jeevan Ram Bishnoi

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Shop Address – Shop No. 20, Krishi Upaj Mandi, Bajju, Tehsil – Kolayat, Dist. Bikaner 334305

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2. SH. BHAGIRATH BISHNOI

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S/o Jeevan Ram Bishnoi

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Proprietor of M/s Bhagirath & Company

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R/o Village Mithariya, Saharano Ka Bass,

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Tehsil – Kolayat, Distt. Bikaner 334305 (Raj.)

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3. SH. RAM KUMAR ALIAS RAM KANWAR BISHNOI S/o Jeevan Ram Bishnoi

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R/o Village Mithariya, Saharano Ka Bass,

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Tehsil – Kolayat, Distt. Bikaner 334305 (Raj.)

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……Defendants…..

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Recovery Certificate for Rs. 37,39,462/-

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In terms of final order dated 17.01.2023 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. 37,39,462/(Rupees Thirty Seven Lac Thirty Nine Thousand Four Hundred Sixty Two Only) with future interest

OA No. 448 of 2022

@ 14.75% p.a. (Simple) 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 hypothecated assets and mortgaged property – Residential Plot at admeasuring 12256 Varga Gaj Village Mithariya, Saharano Ka Bass, Tehsil – Kolayat, Dist. Bikaner 334305 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. Parties are directed to appear before the Recovery Officer, DRT, Jaipur on 17.04.2023 .

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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 17.01.2023 .

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

OA No. 448 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. 448 OF 2022

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DATE OF DELIVERY OF ORDER 17.01.2023

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SCHEDULE TO RECOVERY CERTIFICATE

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MEMO OF COST

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STATE BANK OF INDIA

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Branch Office – 3^rd Floor, Matrix Mall, Sector-4, Jawaharnagar, Jaipur - 302204

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…..Applicant Bank…..

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VERSUS

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1. M/S BHAGIRATH & COMPANY

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Through its Proprietor

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Sh. Bhagirath Bishnoi S/o Sh. Jeevan Ram Bishnoi

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Shop Address – Shop No. 20, Krishi Upaj Mandi, Bajju, Tehsil – Kolayat, Dist. Bikaner 334305

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2. SH. BHAGIRATH BISHNOI

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S/o Jeevan Ram Bishnoi

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Proprietor of M/s Bhagirath & Company

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R/o Village Mithariya, Saharano Ka Bass,

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Tehsil – Kolayat, Distt. Bikaner 334305 (Raj.)

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3. SH. RAM KUMAR ALIAS RAM KANWAR BISHNOI

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S/o Jeevan Ram Bishnoi

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R/o Village Mithariya, Saharano Ka Bass,

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Tehsil – Kolayat, Distt. Bikaner 334305 (Raj.)

……Defendants…..

OA No. 448 of 2022

S.No.	Item of Costs	Amount (Rs.)
1	Fee on the Application	40,000.00
2	Process Fee (Inc. Publication)	71.00
3	Advocate Fee	1,250.00
4	Commission/Receiver/Valuation	NIL
5.	Miscellaneous Charges	NIL
	Total	41,321.00

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Presiding Officer, Debts Recovery Tribunal, Jaipur

OA No. 448 of 2022

17.01.2023

Counsel:

Sh. JAYANT VAZE, Counsel for the Applicant Bank Defendants are exparte

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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. 448 of 2022

17.01.2023

Counsel:

Sh. JYANT VAZE, Counsel for the Applicant Bank Defendants are exparte

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The Tribunal vide order dated 17.01.2023 , 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 17.01.2023 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.

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

OA No. 448 of 2022

DEBTS RECOVERY TRIBUNAL, JAIPUR

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ORIGINAL APPLICATION NO. 448 of 2022

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The Recovery Certificate prepisd in compliance of order dated 17.01.2023 passed by Hon’ble Presiding Officer, DRT, Jaipur in Original Application No. 448 of 2022 Title State Bank of India Vs Bhagirath & Company & 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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State Bank of India v. M/S Bhagirath and Company

Case brief

What is this about?

What did the court decide?

State Bank of India v. M/S Bhagirath and Company

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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