Allowed

Kotak Mahindra Bank Limited v. Milap Singh

DRT14 Feb 2023OA/73/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the bank's original application for recovery of a loan classified as NPA. Judgment declares defendants liable to pay the principal sum with interest and authorizes a recovery certificate for sale of hypothecated commercial vehicles to satisfy the debt.

What did the court decide?

Defendants declared jointly and severally liable to pay Rs. 57,14,663.15 with future interest; recovery certificate issued for sale of specified commercial vehicles and other assets; costs ordered.

Kotak Mahindra Bank Limited versus Milap Singh — Contract and Commercial Disputes | DRT (2023)

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“ORIGINALAPPLICATION” No. 73 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. 73 OF 2022

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DATE OF DELIVERY OF ORDER 14.02.2023

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KOTAK MAHINDRA BANK LIMITED

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Registered Office : 27BKC, C 27, G Block, Bandra Kurla Complex

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Bandra (E) Mumbai 400051

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…..Applicant Bank…..

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VERSUS

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1. MR. MILAP SINGH CHOUDHARY,

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S/o Mr. Hira Ram Choudhary

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R/o Phagalu Ka Tala, Bhooniya,

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Barmer – 344704, Rajasthan

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2. MRS. PRAMILA BEN

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W/o Mr. Hira Ram Choudhary

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R/o 36, Old Brahmani Nagar Society,

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Behind Geb Sidhpur, Patan – 384151, Rajasthan Also at Sutharo Ki Bery, Bhooniya,

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Barmer- 344704, Rajasthan

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3. MR. POKER RAM

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S/o Mr. Simartha Ram R/o Aadresh Vihu Nagar, Bhuniya Chohtan,

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Barmer- 344704, Rajasthan

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……Defendants…..

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Counsel for the Applicant Bank Sh. M.C. Sharma Defendants Ex parte

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JUDGMENT

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This Original Application was filed by Applicant Bank against Defendants on 02,12,2021 for recovery of an

OA No. 73 of 2022

amount of Rs 57,14,663.15 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 are proceeded ex parte on 15.07.2022

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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/17 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. 73 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. 57,14,663.15 (Rupees Fifty Seven Lac Fourteen Thousand Six Hundred Sixty Three and Fifteen Paisa only) with future interest @ 9.25% p.a. (Simple) from 02.12.2021 till the date of realization.

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b) The applicant bank is entitled to recover the above amount by sale of following hypothecated property –

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2347000 - Heavy Commercial Vehicle - ASHOK LEYLAND LIMITED CB AL TF1812_0D4R_BUS Chassis No MBIPREHDIKACK6646 Engine No KCEZ418694 Registration No RJ04PA6047

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2346963 - Commercial Vehicles - Heavy Commercial Vehicle –

OA No. 73 of 2022

ASHOK LEYLAND LIMITED CB AL TF1812_0D4R BUS Chassis No MBIPREHDSKACK6648 Engine No KCEZ418691 Registration No RJ04PA6000 2383315 Vehicle Body – Vehicle Heavy Commercial Vehicle Body - BODY_HCV

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2383315 Heavy Commercial Vehicle Body - Vehicle Body - BODY_HCV

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As well as from 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 15.05.2023 .

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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. 14.02.2023 .

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

OA No. 73 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. 73 OF 2022

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DATE OF DELIVERY OF ORDER 14.02.2023

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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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KOTAK MAHINDRA BANK LIMITED

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Registered Office : 27BKC, C 27, G Block, Bandra Kurla Complex

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Bandra (E) Mumbai 400051

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…..Applicant Bank…..

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VERSUS

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1. MR. MILAP SINGH CHOUDHARY,

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S/o Mr. Hira Ram Choudhary

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R/o Phagalu Ka Tala, Bhooniya,

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Barmer – 344704, Rajasthan

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2. MRS. PRAMILA BEN

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W/o Mr. Hira Ram Choudhary

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R/o 36, Old Brahmani Nagar Society, Behind Geb Sidhpur, Patan – 384151, Rajasthan Also at Sutharo Ki Bery, Bhooniya,

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Barmer- 344704, Rajasthan

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3. MR. POKER RAM

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S/o Mr. Simartha Ram R/o Aadresh Vihu Nagar, Bhuniya Chohtan,

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Barmer- 344704, Rajasthan

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……Defendants…..

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Recovery Certificate for Rs. 57,14,663.15

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In terms of final order dated 14.02.2023 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. 57,14,663.15 (Rupees Fifty Seven Lac Fourteen Thousand Six

OA No. 73 of 2022

Hundred Sixty Three and Fifteen Paisa only) with future interest @ 9.25% p.a. (Simple) from 02.12.2021 till the date of realization.

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b) The applicant bank is entitled to recover the above amount by sale of following hypothecated property –

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2347000 - Heavy Commercial Vehicle - ASHOK LEYLAND LIMITED CB AL TF1812_0D4R_BUS Chassis No MBIPREHDIKACK6646 Engine No KCEZ418694 Registration No RJ04PA6047 2346963 - Commercial Vehicles - Heavy Commercial Vehicle – ASHOK LEYLAND LIMITED CB AL TF1812_0D4R BUS Chassis No MBIPREHDSKACK6648 Engine No KCEZ418691 Registration No RJ04PA6000 2383315 Vehicle Body – Vehicle Heavy Commercial Vehicle Body - BODY_HCV 2383315 Heavy Commercial Vehicle Body - Vehicle Body - BODY_HCV As well as from 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 15.05.2023 .

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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 14.02.2023 .

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

OA No. 73 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. 73 OF 2022

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DATE OF DELIVERY OF ORDER 14.02.2023

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SCHEDULE TO RECOVERY CERTIFICATE

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MEMO OF COST

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KOTAK MAHINDRA BANK LIMITED

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Registered Office : 27BKC, C 27, G Block, Bandra Kurla Complex

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Bandra (E) Mumbai 400051

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…..Applicant Bank…..

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VERSUS

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1. MR. MILAP SINGH CHOUDHARY,

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S/o Mr. Hira Ram Choudhary

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R/o Phagalu Ka Tala, Bhooniya,

¶110

Barmer – 344704, Rajasthan

¶111

2. MRS. PRAMILA BEN

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W/o Mr. Hira Ram Choudhary

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R/o 36, Old Brahmani Nagar Society, Behind Geb Sidhpur, Patan – 384151, Rajasthan

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Also at Sutharo Ki Bery, Bhooniya,

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Barmer- 344704, Rajasthan

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3. MR. POKER RAM

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S/o Mr. Simartha Ram R/o Aadresh Vihu Nagar, Bhuniya Chohtan, Barmer- 344704, Rajasthan

……Defendants…..

OA No. 73 of 2022

S.No.	Item of Costs	Amount (Rs.)
1	Fee on the Application	1,50,000.00
2	Process Fee (Inc. Publication)	520.00
3	Advocate Fee	1,250.00
4	Commission/Receiver/Valuation	NIL
5.	Miscellaneous Charges	NIL
	Total	1,51,770.00

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Presiding Officer, Debts Recovery Tribunal, Jaipu

OA No. 73 of 2022

14.02.2023

Counsel:

Sh. M.C. Sharma, Counsel for the 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. 73 of 2022

14.02.2023

Counsel: Sh. M.C. Sharma, Counsel for the Applicant Bank Defendants are ex parte

¶137

The Tribunal vide order dated 14.02.2023 , 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 14.02.2023 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. 73 of 2022

DEBTS RECOVERY TRIBUNAL, JAIPUR

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ORIGINAL APPLICATION NO. 73 of 2022

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The Recovery Certificate prepisd in compliance of order dated 14.02.2023 passed by Hon’ble Presiding Officer, DRT, Jaipur in Original Application No. 73 of 2022 Title Kotak Mahindra Bank Limited Vs Milap Singh Choudhary & 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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Kotak Mahindra Bank Limited v. Milap Singh

Case brief

What is this about?

What did the court decide?

Kotak Mahindra Bank Limited v. Milap Singh

Case brief

What is this about?

What did the court decide?

What the court decided

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