Allowed

Punjab National Bank v. Shri Ishwar Singh

DRT15 Mar 2023OA/701/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an original application filed by Punjab National Bank for recovery of Rs. 23.51 Lakhs. The court held defendants jointly and severally liable, directed issuance of a recovery certificate, and authorized sale of mortgaged assets and payment of costs and interest.

What did the court decide?

Amount of Rs. 23,51,428.84 with interest granted; recovery certificate issued; authority to sell mortgaged and hypothecated assets granted.

Punjab National Bank versus Shri Ishwar Singh — Banking and Recovery | DRT (2023)

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“ORIGINALAPPLICATION” No. 701 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. 701 OF 2022

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DATE OF DELIVERY OF ORDER 15.03.2023

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PUNJAB NATIONAL BANK

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Branch Office – Hardas Ka Bas, District Sikar (Raj.) Recovery Office at Circle Sastra Jaipur-Sikar, Plot No. 2, Nehru Place, Jaipur

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…..Applicant Bank…..

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VERSUS

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SHRI ISHWAR SINGH

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S/o Richhpal Singh, R/o 92, Mohalla, Rajputan,

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Hathidah, Tehsil Srimadhopur, District Sikar

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……Defendants…..

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Counsel for the Applicant Bank Sh. Dhruv Rathore Defendants Ex parte

OA No. 701 of 2022

JUDGMENT

This Original Application was filed by Applicant Bank against Defendants on 01.04.2022 for recovery of an amount of Rs 23,51,428.84 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 proceeded ex parte on 02.12.2022..

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Heard arguments and perused the record.

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6 As stated supra, the Applicant Bank filed the evidence affidavit coupled with the recitals in the documents, viz Exhibit A/1 to A/19 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 and 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. 701 of 2022 is allowed declaring that:-

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a) The Defendants are jointly and severally liable to pay to the applicant bank a sum of Rs. 23,51,428.84 (Rupees Twenty Three Lac Fifty One Thousand Four Hundred Twenty Eight and Eighty Four Paisa Only) with future interest @ 8.85% p.a. & 11.00% (Simple) from 01.04.2022 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 properties –

OA No. 701 of 2022

Agriculture Land in Khata No. 6, 7, 64, 66, 15, 67, 108 rakba 3.40 hectare, 1.66 hectare, 4.34 hectare, 4.17 hectare, 1.40 hectare, 1.73 hectare and 3.99 hectare out of which ¼, 4/18, ¼, 1/8, ¼, 1/3 and 1/12 shares belongs to Ishwar Singh respectively situated at Daulatpura, Tehsil Srimadhopur, District Sikar.

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Agriculture Land in Khata No. 121 and 4 Rakba 1.33 Hectare, 0.62 out of which 1/32, 1/32 shares belongs to Ishwar Singh respectively situated at Hardas Ka Bas, Tehsil Srimadopur, District – Sikar.

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Agriculture Land in Khata No. 107, 108, 106 and 44 Rakba 2.20 Hectare. 3.99 hectare, 2.56 hectare, 4.21 hectare out of which 1/16, 1/16, 1/32, 1/24 shares belongs to Ishwar Singh respectively situated at Daulatpura, Tehsil Srimadhopur, District Sikar

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Agriculture Land in Khata No. 45, 143, 144 & 240 Rakba 3.05 hectare. 0.53 hectare, 1.97 hectare, 0.32 out of which ¼, 1/8, ¼, 1/8 shares belongs to Ishwar Singh respectively situated at Hathidah, Tehsil Srimadhopur, District Sikar.

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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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The recovery certificate be issued forthwith and be sent to the Recovery Officer, DRT, Jaipur.

OA No. 701 of 2022

Parties are directed to appear before the Recovery Officer, DRT, Jaipur on 15.06.2023 .

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

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Order pronounced in the open court today i.e. 15.03.2023 .

OA No. 701 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. 701 OF 2022

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DATE OF DELIVERY OF ORDER 15.03.2023

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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 – Hardas Ka Bas, District Sikar (Raj.) Recovery Office at Circle Sastra Jaipur-Sikar, Plot No. 2, Nehru Place, Jaipur

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…..Applicant Bank…..

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VERSUS

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SHRI ISHWAR SINGH

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S/o Richhpal Singh, R/o 92, Mohalla, Rajputan, Hathidah, Tehsil Srimadhopur, District Sikar

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……Defendants…..

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Recovery Certificate for Rs. 23,51,428.84/-

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In terms of final order dated 15.03.2023 passed by this Tribunal in the above mentioned case, it is ordered that the-

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a) The Defendants are jointly and severally liable to pay to the applicant bank a sum of Rs. 23,51,428.84 (Rupees Twenty Three Lac Fifty One Thousand Four Hundred Twenty Eight and Eighty Four Paisa Only) with future interest @ 8.85% p.a. & 11.00% (Simple) from 01.04.2022 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 properties –

OA No. 701 of 2022

Agriculture Land in Khata No. 6, 7, 64, 66, 15, 67, 108 rakba 3.40 hectare, 1.66 hectare, 4.34 hectare, 4.17 hectare, 1.40 hectare, 1.73 hectare and 3.99 hectare out of which ¼, 4/18, ¼, 1/8, ¼, 1/3 and 1/12 shares belongs to Ishwar Singh respectively situated at Daulatpura, Tehsil Srimadhopur, District Sikar.

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Agriculture Land in Khata No. 121 and 4 Rakba 1.33 Hectare, 0.62 out of which 1/32, 1/32 shares belongs to Ishwar Singh respectively situated at Hardas Ka Bas, Tehsil Srimadopur, District – Sikar.

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Agriculture Land in Khata No. 107, 108, 106 and 44 Rakba 2.20 Hectare. 3.99 hectare, 2.56 hectare, 4.21 hectare out of which 1/16, 1/16, 1/32, 1/24 shares belongs to Ishwar Singh respectively situated at Daulatpura, Tehsil Srimadhopur, District Sikar

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Agriculture Land in Khata No. 45, 143, 144 & 240 Rakba 3.05 hectare. 0.53 hectare, 1.97 hectare, 0.32 out of which ¼, 1/8, ¼, 1/8 shares belongs to Ishwar Singh respectively situated at Hathidah, Tehsil Srimadhopur, District Sikar.

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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 debtParties are directed to appear before the Recovery Officer, DRT, Jaipur on 15.06.2023 .

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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

OA No. 701 of 2022

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 15.03.2023 .

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

OA No. 701 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. 701 OF 2022

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DATE OF DELIVERY OF ORDER 15.03.2023

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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 – Hardas Ka Bas, District Sikar (Raj.) Recovery Office at Circle Sastra Jaipur-Sikar, Plot No. 2, Nehru Place, Jaipur

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…..Applicant Bank…..

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VERSUS

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SHRI ISHWAR SINGH

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S/o Richhpal Singh, R/o 92, Mohalla, Rajputan, Hathidah, Tehsil Srimadhopur, District Sikar

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……Defendants…..

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S.No.	Item of Costs	Amount (Rs.)
1	Fee on the Application	26,000.00
2	Process Fee (Inc. Publication)	52.00
3	Advocate Fee	1,250.00
4	Commission/Receiver/Valuation	NIL
5.	Miscellaneous Charges	NIL
	Total	27,302.00

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Presiding Officer, Debts Recovery Tribunal, Jaipur

OA No. 701 of 2022

15.03.2023

Counsel:

Sh. Dhruv Rathore, 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. 701 of 2022

15.03.2023

Counsel:

Sh. Dhruv Rathore, Counsel for Applicant Bank Defendants are ex parte

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The Tribunal vide order dated 15.03.2023 , 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 15.03.2023 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. 701 of 2022

DEBTS RECOVERY TRIBUNAL, JAIPUR

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ORIGINAL APPLICATION NO. 701 of 2022

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The Recovery Certificate prepisd in compliance of order dated 15.03.2023 passed by Hon’ble Presiding Officer, DRT, Jaipur in Original Application No. 701 of 2022 Title Punjab National Bank Vs Sh. Ishwar Singh 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 Ishwar Singh

Case brief

What is this about?

What did the court decide?

Punjab National Bank v. Shri Ishwar Singh

Case brief

What is this about?

What did the court decide?

What the court decided

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