The Debts Recovery Tribunal allowed the bank's application for recovery of Rs. 35.34 lakhs plus interest. It granted a recovery certificate and restrained the defendant from alienating assets.
The applicant bank is entitled to recover Rs. 35,34,517.66 plus interest at 9.70% per annum and may attach and sell mortgaged and personal properties for realization.
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.
DEBTS RECOVERY TRIBUNAL : JABALPUR
(for the States of Madhya pradesh and Chhattisgarh)
(Presiding Officer - Hon'ble Shri Ram Niwas patet)
Original Application No. - 1362122
Punjab NationaI Bank, Waraseoni, Distt.-Bataghat M.P.
..... Appticant
Versus
Premnagar, Bataghat (M.P.) 481001
Vitlage-Naitra, P.O. -Khamariya,
Tehsi[-Lalbarra, Distt.-Bataghat (M.P.) 481332 Defendant
Counsel for the Applicant : Shri Abhijit C. Thakur, Advocate Defendant : Ex-parte
JUDGMENT
lDatedr 3--December,zo24)
2
oA 1362122
Apptjcant-Bank has retied upon the documents at Ex. A-'l toA'13 which were proved by Shri Kishun La[ Jhariya, Sr. Manager.
i) The Defendant do pay Rs. 35,34,517.66 (Rupees Thirty Five Lakh, Thirty Four Thousand, Five Hundred Seventeen and Paisa Sixty Six only) together with pendentelite and future interest @9.70% per annum simpte from the date of filing of the OA, i.e., 11/11/22, with costs ti[[ its realization.
ii) The Appticant Bank is entitted to se[[ the mortgaged as we[[ as personal properties and assets of the Defendant for reatization of its dues. The Defendant is hereby restrained by means of injunction from depleting, transferring, encumbering, alienating or in any way dealing with her p roperties / assets without first paying the claim of the Appticant Bank.
iii) A Recovery Certificate be issued u/s 19(22) 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 30th Day of December,7024.
{ ?h
o' >'
v
(Ram was Patet)
Pre idin Officer
2 issues framed by the court
Whether the applicant is entitled to recovery of outstanding dues and interest on a defaulted term loan with equitable mortgage.
Whether the mortgaged and personal properties of the defendant can be attached and sold for realization of dues.
2 provisions across 1 enactments
Punjab National Bank, Waraseoni
Smt. Abhitasha Shetlar
Ram Niwas Patet
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
