Allowed

State Bank of India v. Mr Gurveer Singh

DRT27 Apr 2023OA/475/2022

Case brief

AI extract

What is this about?

The Debt Recovery Tribunal allowed an original application filed by State Bank of India against Gurveer Singh for recovery of Rs. 36,43,453.70. The Tribunal held the defendant liable, ordered future interest at 13.95% p.a., and authorized realization via sale of mortgaged agriculture land and personal assets. A recovery certificate was issued.

What did the court decide?

The Applicant Bank is entitled to recover Rs. 36,43,453.70 with future interest from the Defendant by sale of mortgaged immovable property and personal assets.

State Bank of India versus Mr Gurveer Singh — Banking and Recovery | DRT (2023)

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“ORIGINALAPPLICATION” No. 475 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. 475 OF 2022

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DATE OF DELIVERY OF ORDER 27.04.2023

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STATE BANK OF INDIA

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Branch – SARB, 3^rd Floor, Matrix Mall, Sector-4, Jawahar Nagar, Jaipur (Raj.),

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…..Applicant Bank…..

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VERSUS

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MR. GURVEER SINGH

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S/o Mr. Gurdyal Singh R/o Village 4 S PSM (Salempura), Tehsil Anupgarh, District Sri Ganganagar (Raj.) 335701

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……Defendant…..

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Counsel for the Applicant Bank Sh. Jhabar Swami Defendant Ex parte

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JUDGMENT

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This Original Application was filed by Applicant Bank against Defendant on 05.04.2022 for recovery of an amount of Rs 36,43,453.70 with pendentlite and future interest and cost.

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As per O.A., Defendant approached the Applicant Bank for financial assistance. After due consideration, credit facility was sanctioned by the Applicant Bank in favour of

OA No. 475 of 2022

Defendant. Defendant 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 Defendant.

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Defendant was proceeded ex parte on 02.02.2023.

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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/25 marked on behalf of the applicant bank, clinches the claim of the applicant bank against the Defendant. Hence, I hold that the Defendant is 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. 475 of 2022 is allowed declaring that:-

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a) The Defendant is liable to pay to the applicant bank a sum of Rs. 36,43,453.70 (Rupees Thirty Six Lac Forty Thirty Thousand Four Hundred Fifty Three and Seventy Paisa) with future interest @ 13.95%, p.a. (Simple) from 05.04.2022 till the date of realization.

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b) The applicant bank is entitled to recover the above amount by sale of mortgaged immovable property – Agriculture Land situated at 2 SPSM and 20, SJM Salempura, Tehsil Anupgarh, Distt. Sri Ganganagar (Raj.) as well as from the personal movable and immovable properties/assets of Defendant. 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.

OA No. 475 of 2022

Parties are directed to appear before the Recovery Officer, DRT, Jaipur on 27.07.2023 .

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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. 27.04.2023 .

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

OA No. 475 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. 475 OF 2022

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DATE OF DELIVERY OF ORDER 27.04.2023

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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 – SARB, 3^rd Floor, Matrix Mall, Sector-4, Jawahar Nagar, Jaipur (Raj.),

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…..Applicant Bank…..

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VERSUS

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MR. GURVEER SINGH

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S/o Mr. Gurdyal Singh

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R/o Village 4 S PSM (Salempura),

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Tehsil Anupgarh, District Sri Ganganagar (Raj.) 335701

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……Defendant…..

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Recovery Certificate for Rs. 36,43,453.70

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In terms of final order dated 27.04.2023 passed by this Tribunal in the above mentioned case, it is ordered that the-

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a) The Defendant is liable to pay to the applicant bank a sum of Rs. 36,43,453.70 (Rupees Thirty Six Lac Forty Thirty Thousand Four Hundred Fifty Three and Seventy Paisa) with future interest @ 13.95%, p.a. (Simple) from 05.04.2022 till the date of realization.

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b) The applicant bank is entitled to recover the above amount by sale of mortgaged immovable property –

OA No. 475 of 2022

Agriculture Land situated at 2 SPSM and 20, SJM Salempura, Tehsil Anupgarh, Distt. Sri Ganganagar (Raj.) as well as from the personal movable and immovable properties/assets of Defendant. 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 27.07.2023 .

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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 27.04.2023 .

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

OA No. 475 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. 475 OF 2022

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DATE OF DELIVERY OF ORDER 27.04.2023

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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 – SARB, 3^rd Floor, Matrix Mall, Sector-4, Jawahar Nagar, Jaipur (Raj.),

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…..Applicant Bank…..

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VERSUS

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MR. GURVEER SINGH

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S/o Mr. Gurdyal Singh

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R/o Village 4 S PSM (Salempura),

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Tehsil Anupgarh, District Sri Ganganagar (Raj.) 335701

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……Defendant…..

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S.No.	Item of Costs	Amount (Rs.)
1	Fee on the Application	39,000.00
2	Process Fee (Inc. Publication)	53.00
3	Advocate Fee	1,250.00
4	Commission/Receiver/Valuation	NIL
5.	Miscellaneous Charges	NIL
	Total	40,303.00

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Presiding Officer, Debts Recovery Tribunal, Jaipur

OA No. 475 of 2022

27.04.2023

Counsel: Sh. Jhabar Swami, Counsel for Applicant Bank Defendant is 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 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. 475 of 2022

27.04.2023

Counsel:

Sh. Jhabar Swami, Counsel for Applicant Bank Defendant is ex parte

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The Tribunal vide order dated 27.04.2023 , 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 27.04.2023 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. 475 of 2022

DEBTS RECOVERY TRIBUNAL, JAIPUR

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ORIGINAL APPLICATION NO. 475 of 2022

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The Recovery Certificate prepisd in compliance of order dated 27.04.2023 passed by Hon’ble Presiding Officer, DRT, Jaipur in Original Application No. 475 of 2022 Title State Bank of India Vs Gurveer Singh 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. Mr Gurveer Singh

Case brief

What is this about?

What did the court decide?

State Bank of India v. Mr Gurveer Singh

Case brief

What is this about?

What did the court decide?

What the court decided

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