Allowed

State Bank of India v. Sh. Rishi Soni

DRT17 Oct 2023OA/587/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the State Bank of India's application under Section 19 of the RDB Act for recovery of Rs.51.09 lakhs with interest. The court found the bank proved the loan advance and due amount, proceeding ex parte against defaulting respondents, and directed issuance of a recovery certificate.

What did the court decide?

Recovery of Rs.51,09,139.56 with interest at 7.65% per annum from 22.03.2022; Recovery Certificate issued; Recovery Officer directed to distribute sale proceeds.

State Bank of India versus Sh. Rishi Soni — Banking and Recovery | DRT (2023)

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IN THE DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH

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BEFORE: A S NARANG, PRESIDING OFFICER

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OA No: 587 of 2022 Date of Institution: 01.04.2022 Date of Decision: 17.10.2023

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State Bank of India, Sector 17-A, Chandigarh and also having its branch amongst other places at Main Branch, Solan, Himachal Pradesh-173211.

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……..Applicant

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Vs.

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Sh. Rishi Soni S/o Sh. Devinder Kumar, R/o Village Hatkot, Post Office Pargana Kunihar, Arki, Tehsil And District Solan, Himachal Pradesh.

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Sh. Devinder Kumar S/o Sh. Dhani Ram, R/o Village Hatkot, Post Office Pargana Kunihar, Arki, Tehsil And District Solan, Himachal Pradesh.

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IInd Address:-

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R/o 14/1, Village Ucha Gaon, Block No.500, Kunihar, Tehsil Arki And District Solan, Himachal Pradesh-173208.

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IIIrd Address:-

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R/o Flat No.3, First Floor, Ruchika Apartments, Phase-2, Circular Road, Solan, Himachal Pradesh-173212.

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……….Defendants

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Advocates

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Sh. Vivek Verma alongwith Sh. Sanjay Sagar, Counsel for the applicant bank.

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Defendants- Ex parte.

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OA for the Recovery of Rs.51,09,139.56p with interest @7.65% per annum with monthly rests from 22.03.2022.

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ORDER

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State Bank of India (Bank) has filed this application under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993 (RDB Act) for the recovery of Rs.51,09,139.56p with interest against Sh. Rishi Soni And Another (defendants).

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Bank’s case is that on 13.01.2017, it had granted Home Loan of Rs.40.00 lacs and Rs.30.00 lacs, totaling Rs.70.00 lacs to defendant nos.1 and 2. To secure the loan, Defendant no.1 had mortgaged his immovable properties (fully detailed in para Nos.5(j) and 5(l) of the application). The loan was chargeable to interest @8.65% per annum with monthly rests. On 21.03.2022, a sum of Rs.51,09,139.56p was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.

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On 22.04.2022, summonses were sent to the defendants by registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 08.12.2022, they were proceeded ex parte .

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In order to prove its case, the Bank has placed on record the affidavit of Mr. Dawa Tashi Kinner, Assistant General Manager along with the loan and security documents and marked them as Exhibit A-1 to A-16.

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I have perused the evidence on the record. I am of the considered view that the Bank has proved its case that it had advanced the loan of Rs.70.00 lacs and on 21.03.2022, a sum of Rs.51,09,139.56p was due. 6. Accordingly, the application of the bank for the recovery of Rs.51,09,139.56p (Rupees Fifty-One Lacs Nine Thousand One Hundred Thirty-Nine And Paisa Fifty Six Only) with interest @7.65% per annum with monthly rests from 22.03.2022, till the date of payment is hereby allowed with costs. The liability of all the defendants would be joint and several. Bank can recover its dues by the sale of mortgaged properties (fully detailed in para Nos.5(j) and 5(l) of the application) as well as from the personal movable and immovable property(ies) of the defendants.

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Pending IAs, if any, stand disposed of. 8. Recovery Certificate be issued accordingly. 9. Parties are directed to appear before Recovery Officer on 20.11.2023 , who is directed to distribute the sale proceeds of the mortgage properties as per the provisions of Section 19(20-AB) of the Act . 10. A Copy of this order along with Recovery Certificate be sent to the Recovery Officer as well as the parties. Pronounced in the open court. (A S Narang) Dated: 17^th October, 2023 Presiding Officer DRT-1, Chandigarh

State Bank of India v. Sh. Rishi Soni

Case brief

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State Bank of India v. Sh. Rishi Soni

Case brief

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