The Debts Recovery Tribunal allowed the bank's application for recovery of Rs.22,24,335.43 with interest. The court held that the bank proved its case and directed the issuance of a recovery certificate and sale of hypothecated goods.
Recovery of Rs.22,24,335.43 with interest; sale of hypothecated goods; issuance of recovery certificate.
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.
IN THE DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH
BEFORE: A S NARANG, PRESIDING OFFICER
TA No: 47/2022 Date of Institution: 22.11.2021 Date of Decision: 30.10.2023
Canara Bank, one of its Branch at Channi Himmat, Jammu.
……….Defendants
Advocates
Sh. Iqbal Mohammad, Counsel for the applicant bank. None for defendants.
TA for the Recovery of Rs.22,24,335.43p with interest @13% per annum with monthly rests from 01.11.2021. ORDER
2
| 3. The, Civil Court, sent summons to the defendant by registered post, which was duly served. Defendant did not put in appearance, before Civil Court, which proceeded_ex parte_against the defendant. |
|---|
| 4. In order to prove its case, the Bank has placed on record the |
| affidavit of Mr. Vinod Kumar, Branch Manager, along with the loan and security documents. 5. I have perused the evidence on the record. I am of the considered view that the Bank has proved its case that it had advanced the above said facilities and on 01.11.2021, a sum of Rs.22,24,335.43p was due. |
| 6. Accordingly, the case of the bank for the recovery of |
| Rs.22,24,335.43p (Rupees Twenty Two Lacs Twenty Four Thousand |
| Three Hundred Thirty Five and Paisa Forty Three Only) with interest @13% per annum with monthly rests from 01.11.2021, till the date of |
| payment is hereby allowed with costs. Bank can recover its dues by the sale hypothecated goods of the application as well as from the personal movable and immovable property(ies) of the defendant. |
| 7. Pending IAs, if any, stand disposed of. |
| 8. Recovery Certificate be issued accordingly. |
| 9. Parties are directed to appear before Recovery Officer on |
| 01.12.2023, who is directed to distribute the sale proceeds of the |
| hypothecated goods as per the provisions of Section 19(20-AB) of the |
| Act**.** |
| 10. A Copy of this order along with Recovery Certificate be sent to |
| the Recovery Officer as well as the parties. |
| Pronounced in the open court. (A S Narang) Dated: 30.10.2023 Presiding Officer DRT-1, Chandigarh Pankaj |
2 issues framed by the court
Whether the application for recovery of loan dues is maintainable in the DRT.
Whether the evidence furnished by the bank sufficiently establishes the debt.
1 provisions across 1 enactments
Canara Bank
A S Narang
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
