Allowed

State Bank of India v. Sh. Garib Dass @ Garibu

DRT17 Oct 2023OA/600/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the applicant bank's application under Section 19 of the RDB Act for recovery of Rs. 21,85,803/- with interest. The court held that the bank proved its loan case and directed joint and several liability recovery through sale of mortgaged land and personal assets.

What did the court decide?

Recovery of Rs. 21,85,803/- with interest allowed; recovery certificate issued; liability joint and several; recovery via sale of mortgaged property and personal assets.

State Bank of India versus Sh. Garib Dass @ Garibu — Insolvency and Bankruptcy | 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: 600 of 2022 Date of Institution: 22.03.2022 Date of Decision: 17.10.2023

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State Bank of India, Village Daroli Kalan, Distt. Jalandahr, Punjab.

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……..Applicant

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Vs.

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Sh. Garib Dass @ Garibu S/o Sh. Babu Ram, R/o H. No.18, Village Dhandouri, Tehsil Adampur, Distt. Jalandhar, Punjab.

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Sh. Piara Lal S/o Sh. Garib Dass, R/o H. No.47, Village Dhandouri, Tehsil Adampur, Distt. Jalandhar, Punjab.

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……….Defendants

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Advocates

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Ms. Lovedeep Kaur, proxy counsel for Ms. Pooja Sharma, Counsel for the applicant bank. Defendants- Ex parte. OA for the Recovery of Rs.21,85,803/- with interest @10.60% per annum with half yearly rests from 30.11.2021. 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.21,85,803/- with interest against Sh. Garib Dass @ Garibu And Another (defendants).

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Bank’s case is that on 07.10.2014, it had granted KCC loan of Rs.15.00 lacs to defendant nos.1 and 2 for agricultural purpose. To secure the loan, Defendant nos.1 and 2 had mortgaged their land admeasuring 23 Kanal 15 Marlas, situated at Village Dhindouri, Post Iserwal, Distt. Jalandhar, Punjab (fully detailed in para No.3(A) of the application). The loan was chargeable to interest @10.60% per annum with half yearly rests. On 29.11.2021, a sum of Rs.21,85,803/- was due

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from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.

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On 25.04.2022, summonses were sent to the defendants by registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 09.12.2022, they were proceeded ex parte . 4. In order to prove its case, the Bank has placed on record the affidavit of Mr. Rakesh Kumar, Deputy Manager along with the loan and security documents and marked them as Exhibit A-1 to A-11. 5. 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.15.00 lacs and on 29.11.2021, a sum of Rs.21,85,803/- was due. 6. Accordingly, the application of the bank for the recovery of Rs.21,85,803/- (Rupees Twenty-One Lacs Eighty-Five Thousand Eight Hundred And Three Only) with interest @10.60% per annum with half yearly rests from 30.11.2021, 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 property i.e. land admeasuring 23 Kanal 15 Marlas, situated at Village Dhindouri, Post Iserwal, Distt. Jalandhar, Punjab (fully detailed in para No.3(A) of the application), as well as from the personal movable and immovable property(ies) of the defendants. 7. 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

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mortgage property and standing crops 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

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State Bank of India v. Sh. Garib Dass @ Garibu

Case brief

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State Bank of India v. Sh. Garib Dass @ Garibu

Case brief

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