Allowed

Bob(E-Dena Bank) v. Comex Infratech Pvt. Ltd.

DRT21 Dec 2023TA/193/2023

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an original application filed by Bank of Baroda for recovery of dues. The bank demonstrated its case via documents, while respondents failed to place effective evidence. The Tribunal directed the defendants to pay the outstanding CC and Term loan amounts along with interest within 30 days.

What did the court decide?

Defendants directed to pay Rs. 21,86,96,300/- and Rs. 1,54,64,558/- with interest @ 12% p.a. Recovery via sale of hypothecated goods and mortgaged property if not deposited.

Bob(E-Dena Bank) versus Comex Infratech Pvt. Ltd. — Contract and Commercial Disputes | DRT (2023)

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Before SUSHIL KUMAR RASTOGI, Presiding Officer Debts Recovely Tribunal-Il, Delhi

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TA NO. 193 of 2023

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BANK OF BARODA (E. DENA BANK) VS. COMEX INFRATECH PvT. LTD. & ORS.

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Reserued on : 08.11.2023 Pronounced on = 2L.L2.2O23

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Bank of Baroda Erstwhile Dena Bank

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-^{Applicant bank}

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Vs.

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1 Comex Infratech h/t.Ltd.

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2.Mr. latinder Singh Bagga

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3.Mr.Shiv Karan Singh Bagga

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4.Mls Concast Infratech Ltd.

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5.Ms. Rijpreet Kaur Gulati

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6.Ms. Jagpreet Kaur Defendants

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Present: Sh. Arun Aggarwal, Counsel appears for applicant bank. None for defendants.

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FINAL ORDER

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This original application has been filed by the applicant bank, on 12.05.2016 through^{Shri Adri Nathi} Chatterjee, Asstt. General Manager of the^applicant bank, under Section 19 of the Recovery of^{Debts Due} to Banks and Financial Institution Act, 1993^against the defendant no. 1 to 6 for recovery of a^{sum of} Rs.21,86 ,96,3061- in CC(H) facility together^{with cost,} charges and^{pendentellite} and future^interest @

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LZ.SOo/o p.a. and Rs. L,54,64,558/- in^{respect of Term} Loan facility together _y',1' cost, charges^and q/ ./

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TA NO.^{193 0F 2023}

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pendentelliteandfutureinterest@tTo/op.a.from dateoffilingofthiso.A.tilttherealizationinfull.

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The^{brief facts of the case are that at the} requestofthedefendantno.ltheapplicantbank sanctionedon3O.tO'20l3,cashcredithypothecation facility of^{Rs.900 Lacs' The defendant no' 2 to 5} executed^{'respectivegeneral form of guarantee on} 01.11.2013.^{Defendant no'5 has createdequitable} mortgage^{in respect of her property F-66' Ground} Floor,^{Rajaouri Garden, Delhi admeasuring 262'6} sq.yds.^{by deposit of originaldocuments with the} applicant^{bank. In order to avail the said loan facility} thedefendantno.lhasexecutedloaningdocuments dated^{01.11.2013' Thereafter' the defendantno'l} again^{approached theapplicant bank for} enhancement/additional^{credit facilities. The applicant} bank has^{consideredthe request of the defendant} no.t and^{on 27} '03'20t4^{granted cash credit} hypothecationfacilityofRs.lT50Lacsandtermloan ofRs.l50Lacsandrelevantloandocumentsexecuted by defendant^{no'l on 28'03'2014'The defendant} no.2to6executedletterofguaranteeinrespectof the above^{said loan facilitY'}

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It^{is further} .^{submitted that the defendants} enjoyedandutilizedtheLoanfacility,butfailedto maintain^{the financialdisciplineand failed to repay} the due^{amounts' The applicantbank requested the} defendantstoregularizetheloanaccountbyvisits and letters,^{but there was no response from the} defendants,hencetheaccountwasclassifiedasNPA. nt bank^{serued a legal demand} Therefore,^{the aPPlica} Q.,i

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3 TA NO.^{193 0F 2023} the^defendants, notice dated^{29.05'2015 to} demandingtheamountdueasonthatdate,butfailed to recover^{the same. Thus, the present o'A' is} preferred by^{the applicant bank to recover its dues'}

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4.onnoticebythisTribunal,defendantno.tto4 put appearance^{through counsel' Defendant no'5 & 6} failedtoputappearanceatalldespitepublicationand accordingly^{defendant no'5 & 6 were proceeded} againstexparteon25.05.zotT.Thedefendantno.lto 3 filed^{ws but failed to file any evidence' The} defendantno.4filedWSandevidencebutfailedtofile any documents^{in support of evidence'}

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On^{the other hand, the applicant bank has filed} thedocumentaryevidencebywayofaffidavitofSh. Kuldeep^{Singh, Chief Manager of the applicant bank} as AWU1^{to AWl 192 and exhibited the same' Hence'} thecaseoftheapplicantbankstandsfutlyestablished against^{the defendantswith respect to non payment} of EMI/^{outstanding amount'}

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6.Afterperusingtherecords,thisTribunalisofthe view that^{the applicant bank has proved its case} beyond^{reasonabledoubts' The documents and} evidenceleadbytheapplicantbanknotrebuttedby the defendants^{by not placingany evidenceand there} is no^{question of disbelievingthe evidencelead by the} the written/Printed applicant^{bank based} upon documents. Sr,t

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TA NO.¹⁹³ 0F 2023

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In the light^{of the above discussions, the original} Application^{deserues to be allowed'}

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ORDER

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I hereby^{allow this O'A' of the Applicant Bank} and direct^{the defendant nos' 1 to 6 to pay jointly and} severallytotheapplicantbankwithin30daysfrom today, a^{sum of Rs.21 ,86,96,3001- in CC(H) facility} andRs.l,54,64,558/-inrespectofTermLoanfacitity along with^{cost, expensesand interest@ 12olosimple} fromthedateoffilingofthiso.A.tillthedateof realization.

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2)Incaseoffailuretodeposittheaboveamount within the^{stipulated period, the same shall be} recoveredfromthesaleofthehypothecatedgoods andsaleofthemortgagedpropefibearingno'F-66' GroundFloor,RajaouriGarden,Delhiadmeasuring 262.6sq.yds..Incaseofshortfall,thesameshallbe recoveredfromthesaleofpersonalmovableand immovable^{assets of the defendant no' 1 to 6'}

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3)RecoveryCertificatebeissuedforthwithandbe sent to^{Recovery officer, Debts Recovery Tribunal-Il,} Delhi.

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4)TheregistryofthisTribunalisherebydirectedto issue free^{copy of the order and send the same to} both the Parties.

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s TA NO.^{193 0F 2023} before the^Ld. 5) Parties^{are direct to aPPear} Recovery Officer,^{DRT-II, Delhi} on 27.02.2024. Pending^{IAs, if ?rY, stand disposed of'}

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File be consigned to records'

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gAi |41r4*

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Date z 21.L2-2023

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(susHIL KUMAR^RASToGI) PRESIDING^OFFICER DRT-II,^DCIhi

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This^{judgement has been signed' dated and} pronounced^{in oPen court'}

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/ gJ,

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.'-;,!g*HitFt$:^. .' ir:-fiAsi -

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Date z^2L.L2.2023

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(susHIL KUMAR^RASToGI) PRESIDING^OFFICER DRT-II,^Delhi

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Bob(E-Dena Bank) v. Comex Infratech Pvt. Ltd.

Case brief

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Bob(E-Dena Bank) v. Comex Infratech Pvt. Ltd.

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