Allowed

Central Bank of India v. Sukhdeen Prasad Kol

DRT24 Aug 2023OA/958/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the Bank's application for recovery of dues aggregating Rs. 27,39,017.52. The Tribunal directed the Defendant to pay the amount with interest, authorized sale of mortgaged and personal properties, and ordered issuance of a Recovery Certificate.

What did the court decide?

Recovery of Rs. 27,39,017.52 with interest; sale of mortgaged and personal properties; issuance of Recovery Certificate.

Central Bank of India versus Sukhdeen Prasad Kol — Banking and Recovery | DRT (2023)

¶1

DEBTS RECOVERY^{TRIBUNAL : JABALPUR}

¶2

(for the States of Madhya^{Pradeshand Chhattisgarh)}

¶3

(Presiding Officer^- Hon'bte^{Shri Ram Niwas Patet)}

¶4

Original APPlication^{No. - 958122}

¶5

Central Bank of India, Main Road, ShahPura, Distt-Jabatpur^(M.P.)

¶6

..... Appticant

¶7

Versus

¶8

Sukhdeen Prasad Ko[ @ Sukhdeen^Kot, Sio Shri Jagannath Prasad^Kot, H.No.-32, Vittage-Khirka Kheda, Bhamki, P.O.^-Magarmuha, Tehsit-shahpura, Distt.'Jabatpur^{48311 9}

¶9

Defendant

¶10

Counsel for the Appticant : Shri^{KapitDuggat,Advocate} Defendant : Ex'parte

¶11

JUDGMENT

¶12

(Dated : 24th August, 2023)

¶13

The Appticant-Bank has fited the^{present Originat Apptication} u/s 19 of Recovery of Debts and Bankruptcy Act on^{01 108122against the} Defendant for recovery of Rs. 27,39,017.52^{(Rupees Twenty SevenLac,} Thirty Nine Thousand Seventeen and Paisa Fifty Two onty) atong^with interest and other retiefs as stated.

¶14

The brief facts of the case are that on the request of Defendant, the Appticant Bank sanctioned Cash Credit Limit of Rs. 9 Lac and Term Loan of Rs. 16 Lac aggregating Rs. 25 lac on 11112/15 and in consideration of the same the Defendant in addition to execution of loan documents has also created equitabte mortgage over the immovable property, i.e., Mouza Bhamka, P.H.No.-58/59, Bandobast No.-323, Part of Khasra No.-204 (totat Ptot area 0.100 hectare out of 0.430 Hectare), TehsitShahpura, District-Jabalpur. The Defendant avai[ed the credit facitities but faited to tiquidate the outstanding dues despite issuance of Recalt Notice on 07 107 IZZ by the Appticant Bank. The Appticant-Bank has relied upon the documents at Ex. A-1 to A-13 which were proved by Shri AniL Patel, Senior Manager.

¶15

Despite service of notice, the Defendant neither appeared nor fited written statement. He was proceeded ex-parte vide order dated

¶16

¶17

oA 958t22

¶18

16/03/23. There is therefore, no reason to disbetieve the contentions of the Bank. considering the facts of the case, I opine that the Defendant is tiabte to pay the claim amount together with interest and costs. The AppticantBank in its application has ctaimed interest @12/" p.a. with monthty rests. However, I feet it fair and reasonabte to grant interest @12% p.a. simpte pendentetite and future tit[ realization of the dues. The mortgaged property is tiabte to be sold for recovery of amount due atong with the personat properties and assets of the Defendant.

¶19

The Originat Apptication is atlowed and it is ordered as under-

¶20

i) The Defendant do pay Rs. 27,39,017.52 (Rupees Twenty Seven Lac, Thirty Nine Thousand Seventeen and Paisa Fifty Two onty) together with pendentelite and future interest @17% per annum simpte from the date of fiting of the OA, t.e.,01 108122, with costs tit[ its reatization.

¶21

ii) The Appticant Bank is entitted to sett the mortgaged as we[[ as personal properties and assets of the Defendant for reatization of its dues. The Defendant is hereby restrained by means of injunction from depteting, transferring, encumbering, alienating or in any way deating with his properties/assets without first paying the claim of the Appticant Bank.

¶22

iii) A Recovery Certificate be issued uls 19(221 of^{Recovery of} Debts and Bankruptcy Act. The applicant^{bank may fite a memo of cost} within 7 days for^preparing Recovery Certificate.

¶23

Judgment^pronounced in the^{open court on this Day of 24th August,202!}

¶24

SD^f,*/

¶25

(Rim vrwasPdGt) Presidine Off icer

¶26

Central Bank of India v. Sukhdeen Prasad Kol

Case brief

What is this about?

What did the court decide?

Central Bank of India v. Sukhdeen Prasad Kol

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

Coram

Case details

Similar cases

State Bank of India versus Sachin Thanesuriya

Punjab National Bank versus M/S Vikas Traders

Ms Natural Cement Pvt. Ltd. Director of Umashankar Rohit versus Punjab National Bank

SBI Staff Housing Cooperative Society versus Housing Urban Development Corporation Ltd.

Punjab National Bank versus Vinayak Motors

Central Bank of India versus M/S Raghuwanshi Poha Udyog