Allowed

Punjab National Bank v. Somya Ahuja

DRT11 Sept 2024OA/1148/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal, JabalPUR, allowed the Application filed by Punjab National Bank against six Defendants for recovery of a Housing Loan. The court held the Defendants jointly and severally liable to pay the principal amount with simple interest and directed the issuance of a Recovery Certificate.

What did the court decide?

Payment of Rs. 33,65,669.72 with 12% simple interest; Issuance of Recovery Certificate; Injunction restricting alienation of properties.

Punjab National Bank versus Somya Ahuja — Contract and Commercial Disputes | DRT (2024)

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DEBTS RECOVERY TRIBUNAL : JABALPUR

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(for the States of Madhya Pradesh and Chhattisgarh)

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(Presiding Officer - Hon'ble Shri Ram Niwas Patel)

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Qriginol^{ApplicotionNo. - 1148122}

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Punjab NationaI Bank, Circte SASTRA Centre, Raipur (C.G.)

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Appticant

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Versus

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01 ) Smt. Somya Ahuja, W/o Shri Rajesh Ahuja

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1. Shri Rajesh Ahuja, S/o Shri Ramesh Kumar Ahuja

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1. Shri Ramesh Kumar Ahuja, S/o Shri Peshumal Ahuja

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1. Smt. Sushita Ahuja, W/o Shri Ramesh Kumar Ahuja

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1. Shri Vikas Ahuja, S/o Shri Ramesh Kumar Ahuja

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Smt. Priya Ahuja, W/o Shri Vikas Kumar Ahuja

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(Att R/o House No. B-80, sSD Square, Kavita Nagar, Raipur, C.G.) Defendants

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Counsel for the Appticant : Shri Alok Mishra, Advocate Defendants : Ex-parte

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JUDGMENT

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loated^{:nirFSepternber} ,²⁰²⁴⁾

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The Appticant-Bank has fited the^present Original Apptication u/s 19 of Recovery of Debts and Bankruptcy Act^{on'16109127against the} Defendants for recovery of Rs. 33,65,669.72^(Rupees Thirty^{Three Lac, Sixty} Five Thousand, Six Hundred Sixty Nine and Paisa Seventy^Two onty)^atong with interest and other retiefs as stated.

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The brief facts of the case are that on the request^of Defendant No.-1 to 6, the Appticant Bank sanctioned Housing^{Loan (Term} Loan) of Rs. 28.84 Lac and in consideration of the same,^{the Defendants in} addition to execution of [oan documents have also created equitabte mortgage over the immovable property, i.e., House No. 60'61 , Khasra^No.'

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oA 1148122

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131 t11,'143l80^(Part) P.H.^{No.-107l37, Shri Ram Vatika,Ramkrishna} Paramhans Ward No.-2(06), Kota,^{area measuring1804 sq.ft., Raipur (C.G.);} betonging to Defendant^{No.-1. The Defendantsavailedthe credit facilityand} atso executed Batance & Security Confirmation^{Letteron 25108121but faited} to tiquidate the outstanding^{dues despiteissuance of Noticedated 03/02/20} u/s 13(2) of the Securitisation^{Act by the AppticantBank.TheAppticant'} Bank has relied upon the documents^{at Ex. A'1 to A-7 whichwere proved by} Shri Sachin Kumar, Chief Manager.

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Despite service of notice, the Defendants neither appeared^nor fited written statement. They were^{proceededex-parte vide order dated} 26107 /23. There is therefore, no reason to disbelieve the contentions^{of the} Bank. Considering the facts of the case, I opine that the^{Defendantsare} jointty and severalty liabte to pay the ctaim amount together with interest and costs. The Appticant-Bank in its apptication has ctaimed interest @12% p.a. with monthly rests. However, I feeL it fair and reasonabte to grant interest @12% p.a. simpte pendentetite and future titl realization of the dues, The mortgaged property is liable to be sotd for recovery of amount due along with the personal propert'ies and assets of the Defendants.

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The Originat Apptication is attowed and it is ordered as under'

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i) The Defendants do pay^jointty and severatly Rs. 33,65,669.72 (Rupees Thirty Three Lac, Sixty Five Thousand, Six Hundred Sixty Nine and Paisa Seventy Two onty) together with^{pendenteliteand future interest} @12%^per annum simple^{from the date of fiting of the OA, i.e., 16/09122} , with costs titl its reatization.

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ii) The Appticant Bank is entitted to setl the^{mortgagedas wetlas} personal properties and assets of the Defendants for^{reatization of its dues.} The Defendants are hereby restrained by^{means of injunctionfrom} depteting, transferring, encumbering,^{atienatingor in anyway deating with} their properties/assets without^{first paying the ctaim of the Applicant Bank'}

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oA^1148/22

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iii) A Recovery Certificate^{be issueduls 19(22)of Recoveryof} Debts and Bankruptcy^{Act. The applicant bank may fite a memo of cost} - within 7 days for^preparing Recovery^Certificate'

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Judgment^{pronouncedin the open court on this l lth Day of September, 2024'}

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0,^{?-</sup> m Niwas Patet) Presidine 0fficer}

Punjab National Bank v. Somya Ahuja

Case brief

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Punjab National Bank v. Somya Ahuja

Case brief

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