Allowed

Kotak Mahindra Bank Limited v. Sher Mohammad

DRT17 Jun 2023OA/938/2022

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed an application filed by Kotak Mahindra Bank to recover Rs. 30.24 lakhs plus future interest and costs from two defendants who failed to maintain loan discipline. The court declared the defendants jointly and severally liable and authorized sale of hypothecated commercial vehicles.

What did the court decide?

Order allowed declaring Defendants jointly liable to pay Rs. 30,24,324.60 with future interest; bank entitled to recover via sale of two commercial vehicles and personal assets; costs awarded.

Kotak Mahindra Bank Limited versus Sher Mohammad — Contract and Commercial Disputes | DRT (2023)

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“ORIGINALAPPLICATION” No. 938 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. 938 OF 2022

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DATE OF DELIVERY OF ORDER 17.06.2023

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KOTAK MAHINDRA BANK

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Branch Office – 1^ST Floor, 57, Krishna Tower, Sardar Patel Marg, C-Scheme, Jaipur, Raj.

…..Applicant Bank…..

VERSUS

1. SHER MOHAMMAD

S/o Bage Khan

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R/o Masjid Ki Dhaniya,

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Bhojasar P Jodhpur – 342309 Rajasthan

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2. MOHD. SHAKOOR

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S/o Bage Khan

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R/o Masjid Ki Dhaniya,

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Bhojasar P Jodhpur – 342309 Rajasthan

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……Defendants…..

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Counsel for the Applicant Bank Sh. Mukesh Chand Sharma None for the Defendants

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JUDGMENT

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This Original Application was filed by the applicant bank on 24.08.2022 for recovery of outstanding amount of Rs. 30,24,324.60 from the Defendants.

OA No. 938 of 2022

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 were proceeded ex parte on 29.03.2023.

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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/10 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. 938 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. 30,24,324.60 (Rupees Thirty Lac Twenty Four Thousand Three Hundred Twenty Four and Sixty Paisa only) with future interest @ 9.62% p.a. from 24.08.2022 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 – 1) Primary Asset – 3283673 – Commercial Vehicles – Vehicle Body – Vehicle Body- Vehicle Body, Colletral Asset – 2203984 – Commercial Vehicles – Heavy Commercial Vehicle – TATA MOTORS LTD. CB_TATA_LPT_4223_BUILT_GOODS Chassis No. MAT541183K1B04881 Engine No. 9B4S230T191B63769962, Registration No. RJ19GG0997 2203990 – Heavy Commercial

OA No. 938 of 2022

Vehicles – Vehicle Body- Vehicle Body-Body_HCV, 2) Primary Asset – 3202710 – Commercial Vehicles – Heavy Commercial Vehicle – TATA MOTORS LTD.CB_TATA_LPT_4223_FULLY_BUILT_GO ODS, Chassis No. MAT541183K1B04881, Engine No 9B4S230T191B63769962, Registration No. RJ19GG0997, 2203990 – Heavy Commercial Vehicles – Vehicle Body – Vehicle Body – BODY_HCV 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 19.09.2023 .

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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. 17.06.2023 .

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

OA No. 938 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. 938 OF 2022

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DATE OF DELIVERY OF ORDER 17.06.2023

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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

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Branch Office – 1^ST Floor, 57, Krishna Tower, Sardar Patel Marg, C-Scheme, Jaipur, Raj.

…..Applicant Bank…..

VERSUS

1. SHER MOHAMMAD

S/o Bage Khan

R/o Masjid Ki Dhaniya,

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Bhojasar P Jodhpur – 342309 Rajasthan

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2. MOHD. SHAKOOR

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S/o Bage Khan

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R/o Masjid Ki Dhaniya,

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Bhojasar P Jodhpur – 342309 Rajasthan

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……Defendants…..

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Recovery Certificate for Rs. 32,24,324.60

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In terms of final order dated 17.06.2023 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. 30,24,324.60 (Rupees Thirty Lac Twenty Four Thousand Three Hundred Twenty Four and Sixty Paisa only) with future interest @ 9.62% p.a. from 24.08.2022 till the date of realization.

OA No. 938 of 2022

b) The applicant bank is entitled to recover the above amount by sale of hypothecated assets – 1) Primary Asset – 3283673 – Commercial Vehicles – Vehicle Body – Vehicle Body- Vehicle Body, Colletral Asset – 2203984 – Commercial Vehicles – Heavy Commercial Vehicle – TATA MOTORS LTD. CB_TATA_LPT_4223_BUILT_GOODS Chassis No. MAT541183K1B04881 Engine No. 9B4S230T191B63769962, Registration No. RJ19GG0997 2203990 – Heavy Commercial Vehicles – Vehicle Body- Vehicle Body-Body_HCV, 2) Primary Asset – 3202710 – Commercial Vehicles – Heavy Commercial Vehicle – TATA MOTORS LTD.CB_TATA_LPT_4223_FULLY_BUILT_GO ODS, Chassis No. MAT541183K1B04881, Engine No 9B4S230T191B63769962, Registration No. RJ19GG0997, 2203990 – Heavy Commercial Vehicles – Vehicle Body – Vehicle Body – BODY_HCV.

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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 19.09.2023 .

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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 17.06.2023 .

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

OA No. 938 of 2022

BEFORE THE DEBTS RECOVERY TRIBUNAL, JAIPUR

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PRESENT- SHRI VIVEK SAXENA

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PRESIDING OFFICER

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O.A. NO. 938 OF 2022

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DATE OF DELIVERY OF ORDER 17.06.2023

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SCHEDULE TO RECOVERY CERTIFICATE

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MEMO OF COST

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KOTAK MAHINDRA BANK

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Branch Office – 1^ST Floor, 57, Krishna Tower, Sardar Patel Marg, C-Scheme, Jaipur, Raj.

…..Applicant Bank…..

VERSUS

1. SHER MOHAMMAD

S/o Bage Khan

R/o Masjid Ki Dhaniya,

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Bhojasar P Jodhpur – 342309 Rajasthan

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2. MOHD. SHAKOOR

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S/o Bage Khan

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R/o Masjid Ki Dhaniya,

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Bhojasar P Jodhpur – 342309 Rajasthan

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……Defendants…..

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S.No.	Item of Costs	Amount (Rs.)
1	Fee on the Application	33,005.00
2	Process Fee (Inc. Publication)	160.00
3	Advocate Fee	1,250.00
4	Commission/Receiver/Valuation	NIL
5.	Miscellaneous Charges	NIL
	Total	34,415.00

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Presiding Officer, Debts Recovery Tribunal, Jaipur

OA No. 938 of 2022

17.06.2023

Counsel:

Sh. Mukesh Chand Sharma, 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. 938 of 2022

17.06.2023

Counsel:

Sh. Mukesh Chand Sharma, Counsel for Applicant Bank Defendants are ex parte

¶117

The Tribunal vide order dated 17.06.2023 , 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 17.06.2023 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. 938 of 2022

DEBTS RECOVERY TRIBUNAL, JAIPUR

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ORIGINAL APPLICATION NO. 938 of 2022

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The Recovery Certificate prepisd in compliance of order dated 17.06.2023 passed by Hon’ble Presiding Officer, DRT, Jaipur in Original Application No. 938 of 2022 Title Kotak Mahindra Bank Vs Sher Mohammad & Anr.. 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. Sher Mohammad

Case brief

What is this about?

What did the court decide?

Kotak Mahindra Bank Limited v. Sher Mohammad

Case brief

What is this about?

What did the court decide?

What the court decided

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