Allowed

Canara Bank v. Dharmendra Singh Kirar

DRT14 Feb 2024OA/1459/2022

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed an original application filed by a bank for recovery of dues. The court directed payment of principal, adjusted interest, and costs, and ordered the issuance of a recovery certificate.

What did the court decide?

Defendant directed to pay Rs. 29,76,500.73 with interest; recovery certificate to be issued under s. 19(2); Defendant restrained from disposing of assets.

Canara Bank versus Dharmendra Singh Kirar — Banking and Recovery | 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'bte Shri Ram Niwas Patet)

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Originol Application No. - 1459122

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Canara Bank, Patel Market, Main Road, Baktara, Tehsit-Budhni, District-Sehore (M. P. )

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..... Appticant

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Versus

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Shri Dharmendra Singh Kirar, S/o Shri Bhagwat Singh Kirar, Vittage-Googatbada, Tehsil-badi, District-Raisen (M.P. )

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Defendant

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Counsel for the Applicant : Shri Atok Mishra, Advocate Defendant : Ex-parte

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JUDGMENT

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(Dated :14m Februiry, 2O2a)

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The Appticant-Bank has fited the present Original Apptication u/s 19 of Recovery of Debts and Bankruptcy Act on^'13/12172 against the Defendant for recovery of Rs.29,26,500.23 (Rupees Twenty Nine Lac, Twenty Six Thousand, Five Hundred and Paisa Twenty Three onty) along with interest and other retiefs as stated.

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The brief facts of the case are that on the request of Defendant, the Appticant Bank sanctioned Kisan Credit Card Limit of Rs. 6.44 Lac on 03/09/14 and Kisan Overdraft (KOD) of Rs. 7.50 Lac on21110114. ln consideration of the sanction f credit facilities the Defendants in addition to execution of [oan documents has atso created charge under the provisions of M.P. Krishi Udhar Pravartan Tatha Prakriyan Upbandh (Bank) Adhiniyam 1972 over the immovable property, i.e., Survey/Khasra No.-25912/1, Khasra No.382, Khasra No.-391 /'l /'1, Khasra No.-392/2/1, Khasra No.-39214/2, Khasra No.-3931212, Viltage-Googatbada, Tehsit-Badi, District-Ra.isen, area measuring 14.25 Hect. The Defendant avai[ed the credit facitities and atso executed Acknolwedgment of Debt and Security tastty on 19106120 but failed to tiquidate the outstanding dues despite issuance of Recatt Notice by the Applicant Bank. The Applicant-Bank has retied upon the documents at Ex. A-1 to A-16 which were proved by Shri Deepak Kumar Bhatavi , Manager.

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oA 1459/22

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Despite service of notice, the Defendant neither appeared nor fited written statement. He was proceeded ex-parte vide order dated 18110123. There is therefore, no reason to disbelieve the contentions of the Bank. Considering the facts of the case, I opine that the Defendant is liabte to pay the ctaim amount together with interest and costs. The AppticantBank in its application has ctaimed interest @11 J5% p.a. with hatf-yearly rests for kisan credit card account and interest @12.90yo^p.a. with hatf-yearty rests for kisan overdraft account. However, I feet it fair and reasonabte to grant interest @1 1% p.a. for Kisan Credit Card account and interest @12% p.a. for Kisan Overdraft account simple pendentetite and future ti[[ realization of the dues. The mortgaged property is liabte to be sotd for recovery of amount due atong with the personal properties and assets of the Defendant.

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The Original Apptication is allowed and it is ordered as under-

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i) The Defendant do pay Rs. 29,76,500.73 (Rupees Twenty Nine Lac, Twenty Six Thousand, Five Hundred and Paisa Twenty Three onty) together with pendentetite and future interest @11% p.a. for Kisan Credit Card account and interest @12% p,a, for Kisan Overdraft account simpte from the date of fiting of the OA, i.e., 13112122, with costs tit[ its reatization.

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ii) The Appticant Bank is entitted to setl 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 depteting, transferring, encumbering, alienating or in any way deating with his properties/assets without first paying the ctaim of the Appticant Bank.

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iii) A Recovery Certificate be issued uls 19(22) of Recovery of Debts and Bankruptcy Act. The appticant bank may file a memo of cost within 7 days for preparing Recovery Certificate.

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Judgment pronounced in the open court on this^{14th Day} of February,2074.

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*
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Presidine Officer

Canara Bank v. Dharmendra Singh Kirar

Case brief

What is this about?

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Canara Bank v. Dharmendra Singh Kirar

Case brief

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