Allowed

Canara Bank v. M/S Sangeeta Industries

DRT20 Nov 2023OA/505/2022

Case brief

AI extract

What is this about?

DRT allowed Canara Bank's application for recovery of dues against M/s Sangeeta Industries passed ex parte as defendants failed to appear or file a written statement, directing payment of the principal, interest, and issuance of a recovery certificate.

What did the court decide?

Order allowed; Defendants directed to pay Rs.23,55,431/- plus 10% p.a. simple interest and issue a Recovery Certificate.

20.
Sr.

11.202
No.10

3
3
OA No.505 / 2022

Classifica
tion

No. of
Exh.

ORIGINAL APPLICATION NO. 505 / 2022
Canara Bank
..Applicant
Versus
M/s Sangeeta Industries & another
.. Defendants
Mr. K.D.Pande - Advocate for the applicant
The matter is taken through Hybrid.
1. The applicant bank has filed present Original Application
for recovery of Rs. 20,89,128/- against the defendant nos. 1
& 2.

2. The summons has been served on defendant through court
commissioner on 14.07.2023 and the court commissioner
has filed his report on 09.10.2023. Despite service
defendants are not appeared and has not filed their written
statement as such exparte order was passed on 04.09.2023.
3. Heard the arguments advanced by the learned counsel for
the applicant.

4. The loan was granted on 05.12.2020 for an amount of Rs.
18,65,000/- and the defendants have executed the security
documents on 18.05.2021. The account became NPA on
16.01.2022. The legal notice was issued on 24.05.2022 and
thereafter Original Application filed on 19.11.2023 which
is in limitation.

5. The bank has filed evidence affidavit and proved its claim.
On the contrary defendants are neither appeared nor filed

their written statement. As such the claim of the applicant
goes uncontroverted and unrebutted stands admitted by the defendants. So that the bank is entitled for granting the prayers prayed for in the present Original Application.
6. In view of the above, I pass the following order : ORDER
A. Original Application No.505/2022 is allowed with costs.
B. Defendants are ordered and directed to pay to the applicant either jointly or severally the aggregate sum of Rs.23,55,431/- along with agreed rate of interest @ 10% p.a. simple from the date of the filing of the Original Application till actual payment /realisation.
C. Issue Recovery Certificate accordingly.
(Vimal Gupta) Presiding Officer Debts Recovery Tribunal, Aurangabad

their written statement. As such the claim of the applicant

goes uncontroverted and unrebutted stands admitted by the
defendants. So that the bank is entitled for granting the
prayers prayed for in the present Original Application.

6. In view of the above, I pass the following order :
ORDER

A. Original Application No.505/2022 is allowed with costs.

B. Defendants are ordered and directed to pay to the
applicant either jointly or severally the aggregate sum of
Rs.23,55,431/- along with agreed rate of interest @ 10%
p.a. simple from the date of the filing of the Original
Application till actual payment /realisation.

C. Issue Recovery Certificate accordingly.

(Vimal Gupta)
Presiding Officer
Debts Recovery Tribunal, Aurangabad

Canara Bank v. M/S Sangeeta Industries

Case brief

What is this about?

What did the court decide?

Canara Bank v. M/S Sangeeta Industries

Case brief

What is this about?

What did the court decide?

What the court decided

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