Allowed

The Jammu and Kashmir Bank Ltd. v. S. Harpal Singh Dutta

DRT16 Nov 2023TA/96/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the bank's application for recovery of ₹20,17,635 with interest. The principal borrowed and due date were established via an affidavit. The tribunal allowed the recovery of dues by sale of hypothecated vehicles and personal property of all defendants jointly and severally.

What did the court decide?

Recovery of ₹20,17,635 with interest @14% p.a. allowed; recovery certificate issued; proceeding against hypothecated vehicles and defendants' personal property

The Jammu and Kashmir Bank Ltd. versus S. Harpal Singh Dutta — Banking and Recovery | DRT (2023)

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IN THE DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH

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BEFORE: A S NARANG, PRESIDING OFFICER

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TA No: 96/2022

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Date of Institution: 01.12.2014 Date of Decision: 16.11.2023

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The Jammu and Kashmir Bank Ltd., one of its Branch at Nanak Nagar, Jammu.

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……..Applicant

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Vs.

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S. Harpal Singh Dutta, S/o S. Gurbachan Singh Dutta, R/o H.No.90, Sec. 11, Nanak Nagar, Jammu.

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S. Jasvinder Singh, S/o S. Niranjan Singh, R/o H.No.8, Lane No.9, Sec.7, Nank Nagar, Jammu.

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S. Tejinder Singh, S/o S. Kehar Singh, R/o H.No.74, Sec.7, Lane No.3, Nanak Nagar, Jammu.

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……….Defendants

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Advocates

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Sh. Vivek Verma and Sh. Sanjay Sagar, Counsel for the applicant bank. Defendants – ex parte

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TA for the Recovery of Rs.20,17,635/- with interest @14% per annum with monthly rests from 23.11.2014.

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ORDER

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On 01.12.2014, Jammu and Kashmir Bank, filed the suit for the recovery of Rs.20,17,635/- with interest against S. Harpal Singh Dutta and Others (defendants) in the Civil Court Jammu. However, vide order dated 24.09.2022, this suit was transferred by the Court of Additional District Judge, (Commercial Court), Jammu, to DRT-I, Chandigarh.

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Bank’s case is that on 02.12.2008, it had granted a Term loan of Rs.18,75,000/- to defendant No.1 for purchase of two vehicles i.e. Tata LPT Oil Tankers to be purchased from M/s Fairdeal Motors Workshop, Jammu and for making cabin/tank from M/s New Ramgarhia Engineering Works, Pathankot. Defendant No.2 and 3 had stood

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guarantors. To secure the loan, Defendant No.1 had hypothecated the said vehicles. The loan was chargeable to interest @14% per annum with monthly rests. On 23.11.2014, a sum of Rs.20,17,635/- was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, the suit.

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On 22.08.2023, DRT-I, Chandigarh, sent summonses to the defendants by registered post, which was duly served. However, defendants did not put in appearance. Vide order dated 10.10.2023, they were proceeded ex parte .

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In order to prove its case, the Bank has placed on record the affidavit of Mr. Navneet Khajuria, Associate Executive, along with the loan and security documents.

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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 loan of Rs.18,75,000/- and on 23.11.2014, a sum of Rs.20,17,635/- was due.

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Accordingly, the case of the bank for the recovery of Rs.20,17,635/- (Rupees Twenty Lacs Seventeen Thousand Six Hundred and Thirty Five Only) with interest @14% per annum with monthly rests from 23.11.2014, till the date of payment is hereby allowed with costs. The liability of all the defendants would be joint and several. Bank can recover its dues by the sale of hypothecated vehicle of the application as well as from the personal movable and immovable property(ies) of the defendants.

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Pending IAs, if any, stand disposed of. 8. Recovery Certificate be issued accordingly. 9. Parties are directed to appear before Recovery Officer on 18.12.2023, who is directed to distribute the sale proceeds of the

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hypothecated vehicles 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: 16.11.2023 Presiding Officer DRT-1, Chandigarh

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Pankaj

The Jammu and Kashmir Bank Ltd. v. S. Harpal Singh Dutta

Case brief

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The Jammu and Kashmir Bank Ltd. v. S. Harpal Singh Dutta

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