The Tribunal allowed the Applicant Bank's original application for recovery of debt against the Defendants, who failed to appear. The Court awarded the claimed principal amount with interest and directed the issuance of a Recovery Certificate.
Defendants ordered to pay Rs. 30,95,460 with interest, properties attached, and Recovery Certificate issued under Section 19(2)(b).
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DEBTS RECOVERY TRIBUNAL : JABALPUR
(for the States of Madhya Pradesh and Chhattisgarh)
(Presiding Officer - Hon'ble Shri Ram Niwas Patet)
Original Application No. - 182122
Bank of Baroda, Fafadih, Raipur
Appticant
Versus
(1 & 2 R/o Viltage-Rani Jarod,
Tehsit-sigma, Raipur, C.G. 493332)
Counset for the Appticant : Shri Arun Kuamr Misra, Advocate Defendants : Ex-parte
JUDGMENT
(Dated : 18th October, 2024)
2
oA 182122
account was ctassified as NPA and the Defendants faited to liquidate the outstanding dues despite issuance of Reminders/ Notices by the Appticant Bank. The Applicant-Bank has relied upon the documents at Ex. A'1 to A'8 which were proved by Shri Mohammad Mofij, Chief Manager.
i) The Defendants do pay jointty and severalty Rs. 30,95,460.00 (Rupees Thirty Lac, Ninety Five Thousand, Four Hundred and Sixty onty) together with pendentelite and future interest @127o per annum simpte from the date of fiting of the OA, i.e.,27 /01 122, with costs ti[[ its realization.
ii) The Appticant Bank is entitled to setl the personal properties and assets of the Defendants for realization of its dues. The Defendants are hereby restrained by means of injunction from depleting, transferring, encumbering, atienating 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(22) of Recovery of Debts and Bankruptcy Act. The appticant bank may fite a memo of cost within 7 days for preparing Recovery Certificate.
Judgment pronounced in the open court on this 18th Day of October, 2024.
?\l .10' D (Ram Niwas Patet) Presidine Officer
2 issues framed by the court
Whether the Defendants are liable to repay the outstanding loan amount given the failure to file a written statement.
Whether the Applicant Bank is entitled to recover dues by attaching the personal properties and assets of the Defendants.
2 provisions across 1 enactments
Bank of Baroda
M/s Om Travels
Shri Omkar Singh
Shri Arun Kumar Singh
Ram Niwas Patet
As recorded by the court registry
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