The Tribunal allowed the UCO Bank's application for recovery of dues totaling Rs.30,07,928.18 with interest against two defendants who appeared ex parte, directing a Recovery Officer to facilitate asset sale.
Application for recovery of Rs.30,07,928.18 with interest allowed with costs; Recovery Certificate to be issued.
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IN THE DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH
BEFORE: A S NARANG, PRESIDING OFFICER
OA No: 1871 of 2022 Date of Institution: 05.09.2022 Date of Decision: 03.04.2024
UCO Bank, one of its Branch at Model House Jalandhar, Distt. Jalandhar, Punjab.
……..Applicant Vs.
……….Defendants
Advocates
Sh. Anil Sharma, Counsel for the applicant bank. Defendants- Ex parte.
OA for the Recovery of Rs.30,07,928.18p with interest @8.70% per annum with monthly rests from 26.08.2022. ORDER 1. UCO Bank (Bank) has filed this application under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993 (RDB Act) for the recovery of Rs.30,07,928.18p with interest against M/s Radha Plastic Industries and Another (defendants).
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with monthly rests. On 25.08.2022, a sum of Rs.30,07,928.18p was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.
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hypothecated goods/ assets as per the provisions of Section 19(20-AB) of the Act . 10. A Copy of this order along with Recovery Certificate be sent to the Recovery Officer as well as the parties. Pronounced in the open court. (A S Narang) Dated: 03.04.2024 Presiding Officer DRT-1, Chandigarh
1 issue framed by the court
Whether to grant recovery of the outstanding dues along with interest against the respondents under Section 19 of the RDB Act.
UCO Bank
M/s Radha Plastic Industries
Kuldeep Rai
A S Narang
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
