The Debts Recovery Tribunal allowed the Original Application filed by Bank of Baroda against the Defendants for recovery of Rs. 27,69,688 along with interest at 11.50% p.a. from the date of filing the Application.
Ordered Defendants to pay Rs. 27,69,688 with interest at 11.50% p.a. and costs; Recovery Certificate to be issued.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
DEBTS RECOVERY TRIBUNAL : JABALPUR
(for the States of lrtadhya Pradesh and Chhattisgarh)
(Presiding Officer - Hon'bte Shri Ram Niwas Patet)
Original Applicotion No. - 986122
Bank of Baroda, Lamtara lndustriat Estate, Katni (M.P.)
Appticant
Versus
W/o Jitesh Bittaiya
(Alt at H.No.-221, Raghunath Ganj, Katni M.P.)
Defendants
Counsel for the Applicant : Shri Shreyas Dubey, Advocate Defendants : Ex-parte
JUDGMENT
lDated:T4-December,zoz3l
'1.
'1. The Appticant-Bank has fited the present Originat Apptication u/s 19 of Recovery of Debts and Bankruptcy Act on 30107 122 against the Defendants for recovery of Rs. 27,69,688.00 (Rupees Twenty Seven Lac, Sixty Nine Thousand, Six Hundred and Eighty Eight onty) along with interest and other reliefs as stated.
2
oA986t22
Khasra No.-39411, Part of Khasra No.-39412, admeasuring 360 sq.ft.; betonging to Defendant No.-4. The Defendants availed the credit facitities and also executed Letter of Acknowledgment of Debt on 29101t21. The Defendants did not adhere to the financiat disciptine and fail,ed to liquidate the outstanding dues despite issuance of Demand Notice on 03/08/21 under the Securitisation Act by the Appticant Bank. The Appticant-Bank has retied upon the documents at Ex. A-1 to A-23 (cotty.) which were proved by Shri lrlantosh Singh, Chief Manager.
4. The Originat Application is allowed and it is ordered as under-
i) The Defendants do payjointty and severa[[y Rs. 27,69,688.00 (Rupees Twenty Seven Lac, Sixty Nine Thousand, Six Hundred and Eighty Eight onty) together with pendentelite and future interest @11.50%per annum simpte from the date of fiting of the OA, i.e.,30107 122, with costs tit[ its reatization.
ii) The Applicant Bank is entitled to se[[ the mortgaged aswellas personal properties and assets of the Defendants for realization of its dues. The Defendants are hereby restrained by means ofinjunctionfrom depleting, transferring, encumbering, alienatingor in anyway deating with their properties/assets withoutfirst paying the ctaim of the AppticantBank'
3
oA986122
iii) A Recovery Certificate be issued uls 19(221 of Recovery of Debts and Bankruptcy Act. The applicant bank may file a memo of cost within 7 days for preparing Recovery Certificate.
Judgment pronounced in the open court on this 14th Day of December,2023.
-r-7
th .\ 2
(Ram Niwas Patet)
Presidine Officer
1 issue framed by the court
Whether the Original Application filed by the Bank of Baroda for recovery of dues and interests can be allowed on merits.
1 provisions across 1 enactments
Bank of Baroda, Lamtara Industrial Estate, Katni (M.P.)
M/s Atka Sandstone and Tiles Pvt. Ltd.
Jitendra Bittaiya
Atka Bittaiya
Jitesh Bittaiya
Ram Niwas Patet
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
