The Debts Recovery Tribunal allowed the applicant bank's application under Section 19 of the RBI Act for recovery of Rs. 71.42 Lacs. The respondent was directed to pay principal, interest, costs, and a recovery certificate was issued.
Respondent directed to pay Rs. 71.42 Lacs with interest; Recovery Certificate issued; Injunction granted on respondent's assets.
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DEBTS RECOVERY TRIBUNAL : JABALPUR
(for the States of Madhya Pradesh and Chhattisgarh)
cAttP couRT AT RATPUR(C.G.)
(Presiding Officer - Hon'bte Shri Ram Niwas Patet)
Originol Applicotion No. - 154122
State Bank of lndia, Stressed Assets Recovery Branch, Btock B-1, Pujari Chambers, Near Pachpedinaka, Tikrapara, Raipur (C.G.)
Appticant
Versus
Shri Kamal Kishore Arora, Prop.-M/s Ambe Engineering Works, S/o Shri Bhagwan Das Arora, Factorv at: 11lA, Heavy lndustrial Estate, Hathkhoj, Bhitai, Distt.-Durg (C.G.) 490026 Residence at: B-'l 9 , Chouhan Town, Junwani, Bhilai, District-Durg (C.G.) 490020
Defendant
Counsel for the Appticant : Shri Wajid Hyder , Advocate Defendant : Ex-parte
JUDGMENT
(Dated : zoth tily,lOZC)
2
oA 154122
15000 sq.ft. The Defendant avaited the creditfacititiesbut failed to tiquidate the outstanding duesdespiteissuance of Lega[ Notice on 30/ 12/71 by the Appticant Bank.The Appticant-Bank has reliedupon the documentsat Ex. A-1 to A-18 which wereproved byShri Shantanu Dasgupta, Chief Manager.
i) The Defendant dopay Rs.71,42,027.00(RupeesSeventyOne Lac, Fourty TwoThousand and TwentySeven only) togetherwith pendentetite and future interest @11.50%p.a. in cash credit account, interest @7.00%p.a.in FITLaccountand interest @i.25%p'a' in GECL account simptefromthe date of fiting of the oA, i.e.,24101/22, with costs titl its reatization.
ii) The Appticant Bankis entitted to sett the mortgagedas wetl as personal properties andassets of the Defendantfor reatizationof its dues. The Defendantis hereby restrained by means of injunction from depteting, transferring,encumbering, atienatingor in any way deatingwith his properties/assetswithout first paying the ctaim of the Applicant Bank'
3
oA 154/22
iii) A Recovery Certificate be issued uls 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 26th Day of Juty, 2024 at Camp Court Raipur.
14
b^t (Ram Patet) Presidinq Officer
2 issues framed by the court
Whether the applicant bank is entitled to recover the claimed amount of loan dues along with interest.
Whether the mortgaged and personal properties of the respondent can be sold for recovery of dues.
1 provisions across 1 enactments
State Bank of India
Ram Niwas Patet
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
