Allowed

State Bank of India v. M/S Kesriya Iron Store

DRT16 Jun 2023OA/508/2022

Case brief

AI extract

What is this about?

The Tribunal allowed the original application filed by the State Bank of India for recovery of Rs. 62,11,749/- along with future interest. Liability was declared jointly and severally on the respondents. A recovery certificate was issued directing the Recovery Officer to realize the amount from mortgaged or personal properties.

What did the court decide?

Recovery Certificate issued for Rs. 62,11,749/- plus future interest at 14.65% p.a. from 16.04.2022. Recovery directive issued for mortgaged property and personal movable and immovable assets.

State Bank of India versus M/S Kesriya Iron Store — Execution and Attachment | DRT (2023)

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“ORIGINALAPPLICATION” No. 508 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. 508 OF 2022

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DATE OF DELIVERY OF ORDER 16.06.2023

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STATE BANK OF INDIA

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Branch Office – Kharigram, Gulabpura District Bhilwara

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…..Applicant Bank…..

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VERSUS

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1. M/S KESRIYA IRON STORE

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Through Proprietor Smt. Poonam Kawadiya,

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W/o Sh. Rakesh Kawadiya, Sthanak Gali, Bapu Bazar, Bijaynagar

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Dist. Ajmer

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2. SMT. POONAM KAWADIYA

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W/o Sh. Rakesh Kawadiya Propritor of M/s Kesriya Iron Store R/o Sthanak Gali, Bapu Bazar, Bijaynagar

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Dist. Ajmer

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3. SH. RAKESH KAWADIYA

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W/o Sh. Rakesh Kawadiya

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Propritor of M/s Kesriya Iron Store R/o Sthanak Gali, Bapu Bazar, Bijaynagar

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Dist. Ajmer

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4. SMT. CHAND KANWAR

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W/o Sh. Dharmi Chand Kawadiya Propritor of M/s Kesriya Iron Store R/o Sthanak Gali, Bapu Bazar, Bijaynagar

Dist. Ajmer

……Defendants…..

OA No. 508 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 16.04.2022 for recovery of outstanding amount of Rs. 62,11,749/- 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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Defendants were proceeded ex parte on 29.09.2022.

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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/15 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. 508 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. 62,11,749/(Rupees Sixty Two Lac Eleven Thousand Seven Hundred Forty Nine only) with future interest @ 14.65% p.a. from 16.04.2022 till the date of realization.

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

OA No. 508 of 2022

Land Building Bhatewara Street, Bijaynagar, Dist. Ajmer 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 16.09.2023 .

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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

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Order pronounced in the open court today i.e. 16.06.2023 .

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

OA No. 508 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. 508 OF 2022

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DATE OF DELIVERY OF ORDER 16.06.2023

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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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STATE BANK OF INDIA

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Branch Office – Kharigram, Gulabpura District Bhilwara

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…..Applicant Bank…..

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VERSUS

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1. M/S KESRIYA IRON STORE

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Through Proprietor Smt. Poonam Kawadiya, W/o Sh. Rakesh Kawadiya,

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Sthanak Gali, Bapu Bazar, Bijaynagar

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Dist. Ajmer

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2. SMT. POONAM KAWADIYA

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W/o Sh. Rakesh Kawadiya

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Propritor of M/s Kesriya Iron Store

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R/o Sthanak Gali, Bapu Bazar, Bijaynagar

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Dist. Ajmer

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3. SH. RAKESH KAWADIYA

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W/o Sh. Rakesh Kawadiya

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Propritor of M/s Kesriya Iron Store R/o Sthanak Gali, Bapu Bazar, Bijaynagar

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Dist. Ajmer

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4. SMT. CHAND KANWAR

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W/o Sh. Dharmi Chand Kawadiya Propritor of M/s Kesriya Iron Store R/o Sthanak Gali, Bapu Bazar, Bijaynagar

Dist. Ajmer

……Defendants…..

OA No. 508 of 2022

Recovery Certificate for Rs. 62,11,749/-

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In terms of final order dated 16.06.2023 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. 62,11,749/(Rupees Sixty Two Lac Eleven Thousand Seven Hundred Forty Nine only) with future interest @ 14.65% p.a. from 16.04.2022 till the date of realization.

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b) The applicant bank is entitled to recover the above amount by sale of mortgaged property – Residential Land Building Bhatewara Street, Bijaynagar, Dist. Ajmer 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 16.09.2023 .

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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 16.06.2023 .

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

OA No. 508 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. 508 OF 2022

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DATE OF DELIVERY OF ORDER 16.06.2023 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 – Kharigram, Gulabpura District Bhilwara

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…..Applicant Bank…..

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VERSUS

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1. M/S KESRIYA IRON STORE

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Through Proprietor Smt. Poonam Kawadiya,

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W/o Sh. Rakesh Kawadiya,

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Sthanak Gali, Bapu Bazar, Bijaynagar

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Dist. Ajmer

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2. SMT. POONAM KAWADIYA

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W/o Sh. Rakesh Kawadiya

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Propritor of M/s Kesriya Iron Store R/o Sthanak Gali, Bapu Bazar, Bijaynagar

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Dist. Ajmer

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3. SH. RAKESH KAWADIYA

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W/o Sh. Rakesh Kawadiya Propritor of M/s Kesriya Iron Store R/o Sthanak Gali, Bapu Bazar, Bijaynagar

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Dist. Ajmer

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4. SMT. CHAND KANWAR

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W/o Sh. Dharmi Chand Kawadiya Propritor of M/s Kesriya Iron Store R/o Sthanak Gali, Bapu Bazar, Bijaynagar

Dist. Ajmer

……Defendants…..

		OA No. 508 of 2022
S.No.	Item of Costs	Amount (Rs.)
1	Fee on the Application	65,000.00
2	Process Fee (Inc. Publication)	156.00
3	Advocate Fee	1,250.00
4	Commission/Receiver/Valuation	NIL
5.	Miscellaneous Charges	NIL
	Total	66,406.00

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Presiding Officer, Debts Recovery Tribunal, Jaipur

OA No. 508 of 2022

16.06.2023

Counsel:

Sh. Anil Kumar Sharma, Counsel for Applicant Bank Defendants are ex parte

¶130

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. 508 of 2022

16.06.2023

Counsel:

Sh. Anil Kumar Sharma, Counsel for Applicant Bank Defendants are ex parte

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The Tribunal vide order dated 16.06.2023 , 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 16.06.2023 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.

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

OA No. 508 of 2022

DEBTS RECOVERY TRIBUNAL, JAIPUR

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ORIGINAL APPLICATION NO. 508 of 2022

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The Recovery Certificate prepisd in compliance of order dated 16.06.2023 passed by Hon’ble Presiding Officer, DRT, Jaipur in Original Application No. 508 of 2022 Title State Bank of India Vs M/s Kesriya Iron Store & 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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State Bank of India v. M/S Kesriya Iron Store

Case brief

What is this about?

What did the court decide?

State Bank of India v. M/S Kesriya Iron Store

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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