Indian Bank versus Balaji Group

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“ORIGINALAPPLICATION” No. 571 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. 571 OF 2022

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DATE OF DELIVERY OF ORDER 01.05.2023

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INDIAN BANK

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Branch : 84/56, Madhyam Marg, Mansarovar, Jaipur 302020

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…..Applicant Bank…..

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VERSUS

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1. M/S BALAJI GROUP

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Through its Partner Mahaveer Saini, 35, Badrinath Colony, Sikar Road,

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Harmada, Jaipur 302032 (Rajasthan)

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2. MAHAVEER PRASAD SAINI S/o Rameshwar Ashok Nagar, Village Ponkh, Tehsil Udaipurwati, Jhunjhunu 333053 (Rajasthan)

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3. HIMANSHU SAINI

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S/o Rameshwar Ashok Nagar,

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Village Ponkh, Tehsil Udaipurwati, Jhunjhunu 333053 (Rajasthan)

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4. HARIRAM SAINI

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S/o Rameshwar Ashok Nagar,

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Village Ponkh, Tehsil Udaipurwati, Jhunjhunu 333053 (Rajasthan)

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5. BODI DEVI @ BODHI DEVI @ BHURI DEVI W/o Late Rameshwar Lal Saini, 571, Ward 18, Dhani Ranakali, Village Ponkh, Tehsil Udaipurwati, District Jhunjhunu 333053

……Defendants…..

SS

OA No. 571 of 2022

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Counsel for the Applicant Bank Sh. Hans Kumar Sharma Defendants Ex parte

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Ex parte

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JUDGMENT

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This Original Application was filed by Applicant Bank against Defendants on 28.04.2022 for recovery of an amount of Rs 1,40,24,892/- with pendentlite and future interest and cost.

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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 was proceeded ex parte on 07.02.2023.

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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/30 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. 571 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. 1,40,24,892/(Twenty One Crore Forty Lac Twenty Four Thousand Eight Hundred Ninety Two only) with future interest at the rate of MCLR+2.45% p.a. (Simple) from 28.04.2022 till the date of realization.

SS

OA No. 571 of 2022

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b) The applicant bank is entitled to recover the above amount by sale of hypothecated assets and mortgaged property – Industrial Land & Building belonging to Mahaveer, Himanshu & Hariram Saini of Khasra Nos. 695 (Area 2115 Sq. Mtr.) Khasra No. 695 (Area 1185 Sq.mtr) & Khasra No. 697 (Area 1000 Sq. Mtr at Ashok Nagar, Village Ponk, Tehsil Udaipurwati, District Jhunjhunu 302032 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 01.08.2023 .

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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. 01.05.2023 .

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

SS

OA No. 571 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. 571 OF 2022

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DATE OF DELIVERY OF ORDER 01.05.2023

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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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INDIAN BANK

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Branch : 84/56, Madhyam Marg, Mansarovar, Jaipur 302020

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…..Applicant Bank…..

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VERSUS

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1. M/S BALAJI GROUP

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Through its Partner Mahaveer Saini, 35, Badrinath Colony, Sikar Road,

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Harmada, Jaipur 302032 (Rajasthan)

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2. MAHAVEER PRASAD SAINI

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S/o Rameshwar Ashok Nagar, Village Ponkh, Tehsil Udaipurwati, Jhunjhunu 333053 (Rajasthan)

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3. HIMANSHU SAINI

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S/o Rameshwar Ashok Nagar,

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Village Ponkh, Tehsil Udaipurwati,

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Jhunjhunu 333053 (Rajasthan)

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4. HARIRAM SAINI

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S/o Rameshwar Ashok Nagar,

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Village Ponkh, Tehsil Udaipurwati,

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Jhunjhunu 333053 (Rajasthan)

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5. BODI DEVI @ BODHI DEVI @ BHURI DEVI

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W/o Late Rameshwar Lal Saini,

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571, Ward 18, Dhani Ranakali, Village Ponkh, Tehsil Udaipurwati, District Jhunjhunu 333053

SS

OA No. 571 of 2022

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……Defendants…..

Recovery Certificate for Rs. 1,40,24,892/-

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In terms of final order dated 01.05.2023 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. 1,40,24,892/(Twenty One Crore Forty Lac Twenty Four Thousand Eight Hundred Ninety Two only) with future interest at the rate of MCLR+2.45% p.a. (Simple) from 28.04.2022 till the date of realization.

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b) The applicant bank is entitled to recover the above amount by sale of hypothecated assets and mortgaged property – Industrial Land & Building belonging to Mahaveer, Himanshu & Hariram Saini of Khasra Nos. 695 (Area 2115 Sq. Mtr.) Khasra No. 695 (Area 1185 Sq.mtr) & Khasra No. 697 (Area 1000 Sq. Mtr at Ashok Nagar, Village Ponk, Tehsil Udaipurwati, District Jhunjhunu 302032 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. Parties are directed to appear before the Recovery Officer, DRT, Jaipur on 01.08.2023 .

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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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OA No. 571 of 2022

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This Certificate has been issued under my signatures and seal of the Tribunal on this 01.05.2023 .

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

SS

OA No. 571 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. 571 OF 2022

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DATE OF DELIVERY OF ORDER 01.05.2023 SCHEDULE TO RECOVERY CERTIFICATE

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MEMO OF COST

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INDIAN BANK

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Branch : 84/56, Madhyam Marg, Mansarovar, Jaipur 302020

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…..Applicant Bank…..

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VERSUS

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1. M/S BALAJI GROUP

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Through its Partner Mahaveer Saini,

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35, Badrinath Colony, Sikar Road, Harmada, Jaipur 302032 (Rajasthan)

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2. MAHAVEER PRASAD SAINI S/o Rameshwar Ashok Nagar, Village Ponkh, Tehsil Udaipurwati, Jhunjhunu 333053 (Rajasthan)

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3. HIMANSHU SAINI

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S/o Rameshwar Ashok Nagar, Village Ponkh, Tehsil Udaipurwati, Jhunjhunu 333053 (Rajasthan)

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4. HARIRAM SAINI

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S/o Rameshwar Ashok Nagar, Village Ponkh, Tehsil Udaipurwati, Jhunjhunu 333053 (Rajasthan)

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5. BODI DEVI @ BODHI DEVI @ BHURI DEVI

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W/o Late Rameshwar Lal Saini,

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571, Ward 18, Dhani Ranakali, Village Ponkh, Tehsil Udaipurwati, District Jhunjhunu 333053

……Defendants…..

SS

OA No. 571 of 2022

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S.No.	Item of Costs	Amount (Rs.)
1	Fee on the Application	1,43,000.00
2	Process Fee (Inc. Publication)	110.00
3	Advocate Fee	1,250.00
4	Commission/Receiver/Valuation	NIL
5.	Miscellaneous Charges	NIL
	Total	1,44,360.00

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Presiding Officer, Debts Recovery Tribunal, Jaipur

SS

OA No. 571 of 2022

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01.05.2023

Counsel:

Sh. Hans Kumar Sharma, Counsel for Applicant Bank Defendants are 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

SS

OA No. 571 of 2022

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01.05.2023

Counsel:

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

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The Tribunal vide order dated 01.05.2023 , 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 01.05.2023 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

SS

OA No. 571 of 2022

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DEBTS RECOVERY TRIBUNAL, JAIPUR

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ORIGINAL APPLICATION NO. 571 of 2022

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The Recovery Certificate prepisd in compliance of order dated 01.05.2023 passed by Hon’ble Presiding Officer, DRT, Jaipur in Original Application No. 571 of 2022 Title Indian Bank Vs M/s Balaji Group & 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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SS

Indian Bank v. Balaji Group

Case brief

What is this about?

What did the court decide?

Indian Bank v. Balaji Group

Case brief

What is this about?

What did the court decide?

What the court decided

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