Debts Recovery Tribunal allowed the Bank's original application for recovery of outstanding loan dues granting interest and order security realization restraining defendants from transferring assets.
Order defendants to pay Rs. 34,85,179.47 plus interest; sell mortgaged/personal properties; issue recovery certificate; restrain transfer of assets.
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DEBTS RECOVERY TRIBUNAL : JABALPUR
(for the States of Madhya Pradesh and Chhattisgarh)
(Presiding Officer - Hon'bte Shri Ram Niwas Patet)
Original Application No. - 1333/23
lClCl Bank Ltd., Champa (C.G.)
Appticant
Versus
Bolbum Atoo Bhandar, 01 ) Through its Proprietor - Susant Rudra, Tehsil Road, Ward No.-26, District-Champa (C.G. ) 495671
...., Defendants
CounseI for the Appticant : Shri Rahul Dubey, Advocate Defendants : Ex-parte
JUDGMENT
(Dated : ia'h December,2O24l
2
oA 1333/23
outstanding dues despite issuance of Demand Notice on 07 104177 by lhe Appticant Bank. The Appticant-Bank has retied upon the documents at Ex A-1 to A-16 which were proved by Shri Vineet Bhasin, Manager.
i) The Defendants do pay jointly and severatty Rs. 34,85,179.47 (Rupees Thirty Four Lac, Eighty Five Thousand, One Hundred Seventy Nine and Paisa Fourty Seven onty) together with pendentetite and future interest @10.52%per annum simple from the date of fiting of the OA, i.e., 27 /1 1 / 23, with costs ti[[ its realization.
ii) The Appticant Bank is entitled to setl the mortgaged as we[[ as personaI properties and assets of the Defendants for realizatjon of its dues. The Defendants are hereby restrained by means of injunction from depteting, transferring, encumbering, alienating or in any way deating with their properties / assets without first paying the ctaim of the Appticant Bank.
iii) A Recovery Certificate be issued uls 19(77) of Recovery of Debts and Bankruptcy Act. The applicant bank may fite a memo of cost within 7 days for preparing Recovery Certificate.
Judgment pronounced in the open court on this 16th Day of December, 7074.
t'\L' \ (Ram Niwas Patel) Presidin Officer
1 issue framed by the court
Whether the Original Application for recovery of debt sanctioned loan amount outstanding dues is permitted under the Recovery of Debts and Bankruptcy Act.
2 provisions across 1 enactments
ICI Bank Ltd., Champa (C.G.)
Bolbum Atoo Bhandar through Susant Rudra
Susant Rudra
Manisha Rudra
Ram Niwas Patet
As recorded by the court registry
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