The Debt Recovery Tribunal allowed the bank's original application for recovery of a loan turned NPA, holding defendants liable to pay the principal sum with future interest and allowing recovery from hypothecated assets.
Asum amount of Rs. 34,70,538 with future interest and costs, with power to recover by sale of hypothecated assets.
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.
“ORIGINALAPPLICATION” No. 482 of 2022
BEFORE THE DEBTS RECOVERY TRIBUNAL, JAIPUR
PRESENT- SHRI VIVEK SAXENA
PRESIDING OFFICER
O.A. NO. 482 OF 2022
DATE OF DELIVERY OF ORDER 17.06.2023
INDIAN BANK
Branch Office – Murli Tower, Paota B Road, Paota, Jodhpur 342006 (Rajasthan)
…..Applicant Bank…..
VERSUS
1. M/S CHANDANMAL ARVIND KUMAR
Proprietor Shri Arvind Kumar
Office at Shop No. 11, Veer Sawarkar Block,
Mandore Mandi, Jodhpur, 342001 (Rajasthan) ALSO
Godown-1, G-1-47, Mandore Industrial Area,
Jodhpur 342004 (Rajasthan)
2. MR. ARVIND KUMAR
S/o Mr. Rai Chand Surana
Proprietor M/s Chandanmal Arvind Kumar 4003, Chandan Villa, Near Petrol Pump, Mahamandir Railway Station, Jodhpur Kachery,
Jodhpur 342006 (Rajasthan)
……Defendants…..
Counsel for the Applicant Bank Sh. Ashish Shrivastava Defendants Ex parte
JUDGMENT
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OA No. 482 of 2022
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OA No. 482 of 2022
(Vivek Saxena) Presiding Officer, Debts Recovery Tribunal, Jaipur Order pronounced in the open court today i.e. 17.06.2023 . (Vivek Saxena) Presiding Officer, Debts Recovery Tribunal, Jaipur
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OA No. 482 of 2022
BEFORE THE DEBTS RECOVERY TRIBUNAL, JAIPUR PRESENT- SHRI VIVEK SAXENA
PRESIDING OFFICER
O.A. NO. 482 OF 2022
DATE OF DELIVERY OF ORDER 17.06.2023
RECOVERY CERTIFICATE
(UNDER SUB Section 22 of the Recovery of Debts due to Banks and Financial Institutions Act, 1993 (Act 51 of 1993)
INDIAN BANK
Branch Office – Murli Tower, Paota B Road, Paota, Jodhpur 342006 (Rajasthan)
…..Applicant Bank…..
VERSUS
1. M/S CHANDANMAL ARVIND KUMAR
Office at Shop No. 11, Veer Sawarkar Block,
Mandore Mandi, Jodhpur, 342001 (Rajasthan) ALSO
Godown-1, G-1-47, Mandore Industrial Area,
Jodhpur 342004 (Rajasthan)
2. MR. ARVIND KUMAR
S/o Mr. Rai Chand Surana
Proprietor M/s Chandanmal Arvind Kumar
4003, Chandan Villa, Near Petrol Pump,
Mahamandir Railway Station, Jodhpur Kachery,
Jodhpur 342006 (Rajasthan)
……Defendants…..
Recovery Certificate for Rs. 34,70,538/-
In terms of final order dated 17.06.2023 passed by this Tribunal in the above mentioned case, it is ordered that the-
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OA No. 482 of 2022
Parties are directed to appear before the Recovery Officer, DRT, Jaipur on 19.09.2023 .
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.
This Certificate has been issued under my signatures and seal of the Tribunal on this 17.06.2023 .
(Vivek Saxena) Presiding Officer, Debts Recovery Tribunal, Jaipur
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OA No. 482 of 2022
BEFORE THE DEBTS RECOVERY TRIBUNAL, JAIPUR
PRESENT- SHRI VIVEK SAXENA
PRESIDING OFFICER
O.A. NO. 482 OF 2022
DATE OF DELIVERY OF ORDER 17.06.2023
SCHEDULE TO RECOVERY CERTIFICATE
MEMO OF COST
INDIAN BANK
Branch Office – Murli Tower, Paota B Road, Paota, Jodhpur 342006 (Rajasthan)
…..Applicant Bank…..
VERSUS
1. M/S CHANDANMAL ARVIND KUMAR
Proprietor Shri Arvind Kumar Office at Shop No. 11, Veer Sawarkar Block, Mandore Mandi, Jodhpur, 342001 (Rajasthan) ALSO Godown-1, G-1-47, Mandore Industrial Area,
Jodhpur 342004 (Rajasthan)
2. MR. ARVIND KUMAR
S/o Mr. Rai Chand Surana
Proprietor M/s Chandanmal Arvind Kumar
4003, Chandan Villa, Near Petrol Pump, Mahamandir Railway Station, Jodhpur Kachery, Jodhpur 342006 (Rajasthan)
……Defendants….
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| OA No. 482 of 2022 | ||
|---|---|---|
| S.No. | Item of Costs | Amount (Rs.) |
| 1 | Fee on the Application | 37,000.00 |
| 2 | Process Fee (Inc. Publication) | 231.00 |
| 3 | Advocate Fee | 1,250.00 |
| 4 | Commission/Receiver/Valuation | NIL |
| 5. | Miscellaneous Charges | NIL |
| Total | 38,481.00 |
Presiding Officer, Debts Recovery Tribunal, Jaipur
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OA No. 482 of 2022
17.06.2023
Counsel:
Sh. Ashish Shrivastava, Counsel for Applicant Bank Defendants are ex parte
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.
(Vivek Saxena) Presiding Officer, Debts Recovery Tribunal, Jaipur
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OA No. 482 of 2022
17.06.2023
Counsel:
Sh. Ashish Shrivastava, Counsel for Applicant Bank Defendants are ex parte
The Tribunal vide order dated 17.06.2023 , directed the Registrar to verify the Recovery Certificate as per Regulation 24(1) and (2) of Debts Recovery Tribunal Jaipur Regulation 2015.
The Registrar vide order dated 17.06.2023 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.
(Vivek Saxena) Presiding Officer, Debts Recovery Tribunal, Jaipur
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OA No. 482 of 2022
DEBTS RECOVERY TRIBUNAL, JAIPUR
ORIGINAL APPLICATION NO. 482 of 2022
The Recovery Certificate prepisd in compliance of order dated 17.06.2023 passed by Hon’ble Presiding Officer, DRT, Jaipur in Original Application No. 482 of 2022 Title Indian Bank Vs Chandanmal Arvind Kumar & Anr. has been checked and may be verified.
Section Officer
Assistant Registrar
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.
Assistant Registrar
Hon’ble Presiding Officer
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2 issues framed by the court
Whether the defendants are jointly and severally liable to repay the outstanding loan amount.
Whether the bank is entitled to recover dues through sale of hypothecated assets.
2 provisions across 1 enactments
Indian Bank
M/s Chandanmal Arvind Kumar
Mr. Arvind Kumar
Vivek Saxena
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
