Allowed

Punjab National Bank v. Shri Shravan Lal Jat

DRT23 Jan 2023OA/523/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the applicant bank's original application for recovery of dues of Rs. 31,10,850.46 with interest. The defendant was present ex parte. The Tribunal held the defendant liable and directed the issuance of a recovery certificate for enforcement by the Recovery Officer.

What did the court decide?

Allowed the original application for recovery of Rs. 31,10,850.46 with future interest and costs. Directed issuance of Recovery Certificate. Costs set at Rs. 35,275.

Punjab National Bank versus Shri Shravan Lal Jat — Banking and Recovery | DRT (2023)

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“ORIGINALAPPLICATION” No. 523 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. 523 OF 2022

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DATE OF DELIVERY OF ORDER 23.01.2023

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PUNJAB NATIONAL BANK

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Branch Office – 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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SHRI SHRAVAN LAL JAT

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S/o Late Sh. Ramdev Jat, R/o Kabro Ka Vas, Post- Bhadhal, Tehsil Kishangarh, Renwal, District – Jaipur - 303602

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……Defendant…..

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Counsel for the Applicant Bank Shri Praveen Kumar Defendant Ex parte

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JUDGMENT

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This Original Application was filed by Applicant Bank against Defendant on 17.03.2022 for recovery of an amount of Rs 31,10,850.46 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 Defendant. Defendant failed to maintain financial discipline and therefore, their loan account was classified as

OA No. 523 of 2022

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 13.10.2022.

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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/15 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. 523 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. 31,10,850.46 (Rupees Thirty One Lac Ten Thousand Eight Hundred Fifty and Forty Six Paisa only) with future interest @ 13.35% p.a. (Simple) from 17.03.2022 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 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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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 24.04.2023 .

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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

OA No. 523 of 2022

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

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Order pronounced in the open court today i.e. 23.01.2023 .

OA No. 523 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. 523 OF 2022

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DATE OF DELIVERY OF ORDER 23.01.2023

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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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PUNJAB NATIONAL BANK

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Branch Office – 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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SHRI SHRAVAN LAL JAT

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S/o Late Sh. Ramdev Jat,

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R/o Kabro Ka Vas, Post- Bhadhal, Tehsil Kishangarh, Renwal, District – Jaipur - 303602

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……Defendant…..

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Recovery Certificate for Rs. 31,10,850.46

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In terms of final order dated 23.01.2023 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. 31,10,850.46 (Rupees Thirty One Lac Ten Thousand Eight Hundred Fifty and Forty Six Paisa only) with future interest @ 13.35% p.a. (Simple) from 17.03.2022 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 as well as

OA No. 523 of 2022

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 24.04.2023 .

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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 23.01.2023 .

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

OA No. 523 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. 523 OF 2022

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DATE OF DELIVERY OF ORDER 23.01.2023

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SCHEDULE TO RECOVERY CERTIFICATE

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MEMO OF COST

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PUNJAB NATIONAL BANK

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Branch Office – 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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SHRI SHRAVAN LAL JAT

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S/o Late Sh. Ramdev Jat, R/o Kabro Ka Vas, Post- Bhadhal, Tehsil Kishangarh, Renwal,

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District – Jaipur - 303602

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……Defendant…..

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S.No.	Item of Costs	Amount (Rs.)
1	Fee on the Application	34,000.00
2	Process Fee (Inc. Publication)	25.00
3	Advocate Fee	1,250.00
4	Commission/Receiver/Valuation	NIL
5.	Miscellaneous Charges	NIL
	Total	35,275.00

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Presiding Officer, Debts Recovery Tribunal, Jaipur

OA No. 523 of 2022

23.01.2023

Counsel:

Sh. PRAVEEN KUMAR, Counsel for the 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. 523 of 2022

23.01.2023

Counsel:

Sh. PRAVEEN KUMAR, Counsel for the Applicant Bank Defendant is ex parte

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The Tribunal vide order dated 23.01.2023 , 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 23.01.2023 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. 523 of 2022

DEBTS RECOVERY TRIBUNAL, JAIPUR

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ORIGINAL APPLICATION NO. 523 of 2022

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The Recovery Certificate prepisd in compliance of order dated 23.01.2023 passed by Hon’ble Presiding Officer, DRT, Jaipur in Original Application No. 523 of 2022 Title Punjab National Bank Vs Sh. Shravan Lal Jat 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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Punjab National Bank v. Shri Shravan Lal Jat

Case brief

What is this about?

What did the court decide?

Punjab National Bank v. Shri Shravan Lal Jat

Case brief

What is this about?

What did the court decide?

What the court decided

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Issues for consideration

Statutes considered

Parties & counsel

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Case details

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