Allowed

Icici Bank Limited v. M/S Chai Bazaar

DRT17 May 2023OA/607/2022

Case brief

AI extract

What is this about?

The DRT allowed the bank's original application for recovery of Rs 4,96,84,741 owed by borrowers for a sanctioned credit facility. The order declared the defendants jointly liable, permitting interest and recovery via sale of mortgaged properties, and issued a recovery certificate.

What did the court decide?

Defendants declared jointly liable to pay Rs 4,96,84,741 with interest; recovery via sale of mortgaged properties and other assets permitted; Recovery Certificate issued.

Icici Bank Limited versus M/S Chai Bazaar — Banking and Recovery | DRT (2023)

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“ORIGINALAPPLICATION” No. 607 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. 607 OF 2022

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DATE OF DELIVERY OF ORDER 17.05.2023

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ICICI BANK LTD.

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3^rd Floor, JSEL Building, JLN Marg, Malviya Nagar, Jaipur - 302017 and also at Bajaj Nagar, Jaipur

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…..Applicant Bank…..

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VERSUS

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1. M/S CHAI BAZAR

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Through Partners Shri Vipul Chopra, Shri Varun Chopra, and Ms. Nita Chopra

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Plot No. F-387, Road No. 9F, VKIA, Sikar Road, Jaipur -302013

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2. SHRI VIPUL CHOPRA

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Partner M/s Chai Bazaar Plot No. F-387, Road No. 9F, VKIA, Sikar Road, Jaipur -302013

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3. SHRI VARUN CHOPRA

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Partner M/s Chai Bazaar

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Plot No. F-387, Road No. 9F, VKIA, Sikar Road, Jaipur -302013

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4. MS NITA CHOPRA

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Partner M/s Chai Bazaar

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Plot No. F-387, Road No. 9F, VKIA, Sikar Road, Jaipur -302013

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5. MR. ROOP KUMAR CHOPRA

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Flat No. 303-304, Luxuria Apartment, at Plot No. : D-72 B, Tulsi Marg, Jaipur – 302016

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6. MR. PRAVEEN KUMAR CHOPRA

OA No. 607 of 2022

Flat No. B1/401, Kamal Apartment,

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Bani Park, Jaipur, Rajasthan – 302006

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7. MRS. SOHINI DEVI CHOPRA

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Chopra Street Old Line Gangasagar, Bikaner, Rajasthan – 334401

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8. M/S CHOPRA BROTHERS

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Through Partners

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2^nd Floor, 1014, Agarwal market, Mishra Raja Ji Rasta, Chandpole Bazar, Jaipur – Rajasthan 302001 IInd Address : Plot No: F-387, VKIA Road No. 9, Jaipur – Rajasthan - 302013

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……Defendants…..

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Counsel for the Applicant Bank Sh. Abhishek Bhandari & Sh. Vimal Kumar 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 25.04.2022 for recovery of an amount of Rs 4,96,84,741/- 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 is proceeded ex parte on 12.01.2023.

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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/25 marked on behalf of the applicant

OA No. 607 of 2022

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. 607 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. 4,96,84,741/- (Rupees Four Crore Ninety Six Lac Eighty Four Thousand Seven Hundred Forty One only) with future interest at the rate of 9.25% p.a. & 8.25% p.a. (Simple) from 25.04.2022 till the date of realization.

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b) The applicant bank is entitled to recover the above amount by sale of mortgaged properties – (1) Patta No. 125, Misal No. 93, Chopra Mohalla, Purani Line, Gangasahar, Bikaner in the name of Mrs. Sohini Devi Chopra (2) Patta No. 69, Misal-16, NAI Aabadi, Gangasahar, Bikaner, Rajasthan in the name of Mr. Praveen Kumar Chopra (3) Flat No. 303-304, Luxuria Apartment, at Plot No. D-72 B, Tulsi Marg, Jaipur – 302016 in the name of Mr. Roop Kumar Chopra and (4) Plot No. F-387, VKIA Road No. 9, Jaipur – 302013, in the name of Chopra Brothers 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 17.08.2023 .

OA No. 607 of 2022

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 Order pronounced in the open court today i.e. 17.05.2023 . (Vivek Saxena) Presiding Officer, Debts Recovery Tribunal, Jaipur

OA No. 607 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. 607 OF 2022

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DATE OF DELIVERY OF ORDER 17.05.2023

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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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ICICI BANK LTD.

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3^rd Floor, JSEL Building, JLN Marg, Malviya Nagar, Jaipur - 302017

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and also at Bajaj Nagar, Jaipur

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…..Applicant Bank…..

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VERSUS

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1. M/S CHAI BAZAR

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Through Partners Shri Vipul Chopra, Shri Varun Chopra, and Ms. Nita Chopra

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Plot No. F-387, Road No. 9F, VKIA, Sikar Road,

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Jaipur -302013

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2. SHRI VIPUL CHOPRA

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Partner M/s Chai Bazaar

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Plot No. F-387, Road No. 9F, VKIA, Sikar Road,

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Jaipur -302013

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3. SHRI VARUN CHOPRA

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Partner M/s Chai Bazaar

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Plot No. F-387, Road No. 9F, VKIA, Sikar Road,

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Jaipur -302013

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4. MS NITA CHOPRA

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Partner M/s Chai Bazaar

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Plot No. F-387, Road No. 9F, VKIA, Sikar Road,

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Jaipur -302013

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5. MR. ROOP KUMAR CHOPRA

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Flat No. 303-304, Luxuria Apartment,

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at Plot No. : D-72 B, Tulsi Marg, Jaipur – 302016

OA No. 607 of 2022

6. MR. PRAVEEN KUMAR CHOPRA Flat No. B1/401, Kamal Apartment, Bani Park, Jaipur, Rajasthan – 302006

¶96

7. MRS. SOHINI DEVI CHOPRA Chopra Street Old Line Gangasagar, Bikaner, Rajasthan – 334401

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8. M/S CHOPRA BROTHERS

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Through Partners

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2^nd Floor, 1014, Agarwal market, Mishra Raja Ji Rasta, Chandpole Bazar, Jaipur – Rajasthan 302001 IInd Address : Plot No: F-387, VKIA Road No. 9, Jaipur – Rajasthan - 302013

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……Defendants…..

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Recovery Certificate for Rs. 4,96,84,741/-

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In terms of final order dated 17.05.2023 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. 4,96,84,741/- (Rupees Four Crore Ninety Six Lac Eighty Four Thousand Seven Hundred Forty One only) with future interest at the rate of 9.25% p.a. & 8.25% p.a. (Simple) from 25.04.2022 till the date of realization.

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b) The applicant bank is entitled to recover the above amount by sale of mortgaged properties – (1) Patta No. 125, Misal No. 93, Chopra Mohalla, Purani Line, Gangasahar, Bikaner in the name of Mrs. Sohini Devi Chopra (2) Patta No. 69, Misal-16, NAI Aabadi, Gangasahar, Bikaner, Rajasthan in the name of Mr. Praveen Kumar Chopra (3) Flat No. 303-304, Luxuria Apartment, at Plot No. D-72 B, Tulsi Marg, Jaipur – 302016 in the name of Mr. Roop Kumar Chopra and (4) Plot No. F-387, VKIA Road No. 9, Jaipur – 302013, in the name of Chopra

OA No. 607 of 2022

Brothers 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 17.08.2023 .

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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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This Certificate has been issued under my signatures and seal of the Tribunal on this 17.05.2023 .

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

OA No. 607 of 2022

BEFORE THE DEBTS RECOVERY TRIBUNAL, JAIPUR PRESENT- SHRI VIVEK SAXENA

¶118

PRESIDING OFFICER

¶119

O.A. NO. 607 OF 2022

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DATE OF DELIVERY OF ORDER 17.05.2023

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SCHEDULE TO RECOVERY CERTIFICATE MEMO OF COST

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ICICI BANK LTD.

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3^rd Floor, JSEL Building, JLN Marg, Malviya Nagar, Jaipur - 302017

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and also at Bajaj Nagar, Jaipur

¶125

…..Applicant Bank…..

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VERSUS

¶127

1. M/S CHAI BAZAR

¶128

Through Partners Shri Vipul Chopra, Shri Varun Chopra, and Ms. Nita Chopra

¶129

Plot No. F-387, Road No. 9F, VKIA, Sikar Road, Jaipur -302013

¶130

2. SHRI VIPUL CHOPRA

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Partner M/s Chai Bazaar Plot No. F-387, Road No. 9F, VKIA, Sikar Road, Jaipur -302013

¶132

3. SHRI VARUN CHOPRA

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Partner M/s Chai Bazaar

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Plot No. F-387, Road No. 9F, VKIA, Sikar Road, Jaipur -302013

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4. MS NITA CHOPRA

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Partner M/s Chai Bazaar

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Plot No. F-387, Road No. 9F, VKIA, Sikar Road, Jaipur -302013

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5. MR. ROOP KUMAR CHOPRA

¶139

Flat No. 303-304, Luxuria Apartment, at Plot No. : D-72 B, Tulsi Marg, Jaipur – 302016

¶140

6. MR. PRAVEEN KUMAR CHOPRA

¶141

Flat No. B1/401, Kamal Apartment,

OA No. 607 of 2022

Bani Park, Jaipur, Rajasthan – 302006

¶146

7. MRS. SOHINI DEVI CHOPRA

¶147

Chopra Street Old Line Gangasagar,

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Bikaner, Rajasthan – 334401

¶149

8. M/S CHOPRA BROTHERS

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Through Partners

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2^nd Floor, 1014, Agarwal market, Mishra Raja Ji Rasta, Chandpole Bazar, Jaipur – Rajasthan 302001 IInd Address : Plot No: F-387, VKIA Road No. 9, Jaipur – Rajasthan - 302013

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……Defendants…..

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S.No.	Item of Costs	Amount (Rs.)
1	Fee on the Application	1,50,000.00
2	Process Fee (Inc. Publication)	NIL
3	Advocate Fee	1,250.00
4	Commission/Receiver/Valuation	NIL
5.	Miscellaneous Charges	NIL
	Total	1,51,250.00

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Presiding Officer, Debts Recovery Tribunal, Jaipur

OA No. 607 of 2022

17.05.2023

Counsel:

Sh. Abhishek Bhandari & Sh. Vimal Kumar, 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

OA No. 607 of 2022

17.05.2023

Counsel:

Sh. Abhishek Bhandari & Sh. Vimal Kumar, Counsel for Applicant Bank Defendants are ex parte

¶169

The Tribunal vide order dated 17.05.2023 , 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 17.05.2023 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

OA No. 607 of 2022

DEBTS RECOVERY TRIBUNAL, JAIPUR

¶176

ORIGINAL APPLICATION NO. 607 of 2022

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The Recovery Certificate prepisd in compliance of order dated 17.05.2023 passed by Hon’ble Presiding Officer, DRT, Jaipur in Original Application No. 607 of 2022 Title ICICI Bank Ltd. Vs M/s Chai Bazar & 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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Icici Bank Limited v. M/S Chai Bazaar

Case brief

What is this about?

What did the court decide?

Icici Bank Limited v. M/S Chai Bazaar

Case brief

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What did the court decide?

What the court decided

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