The DRAT allowed the bank's application under S. 19 RDB Act for recovery of an NPA loan. It granted interest at 12% p.a., ordered joint and several liability, and sanctioned the sale of mortgaged and personal assets via a recovery certificate.
Order for payment of principal, interest at 12% p.a., costs, and issuance of a Recovery Certificate under S. 19(2) RDB Act.
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'bte Shri Ram Niwas Patet)
Originol Applicotion No. - 284123
Bank of lndia, lndira Nagar, Distt.-Burhanpur (M.P.)
Appticant
Versus
(Both R/o Village-ShahPur, Tehsit & Distt.-BurhanPur, M.P.)
Defendants
Counsel for the Appticant : ShriShreyasDubey, Advocate Defendants : Ex-Parte
JUDGMENT
(Dated : 03'd SePtember,2O24l
2
oA284123
documents at Ex.A-1 to A-19 whichwere proved by shri Blacius Toppo, chief Manager.
i) The Defendants do payjointty and severatly Rs. 31,82,598.00 (Rupees Thirty One Lac, Eighty Two Thousand, Five Hundred and Ninety Eight onty) together withpendentelite and future interest @12%per annum simpte from the date of fiting of the OA, i.e.,30101123, with costs titlits reatization.
ii) The Appticant Bank is entitted to set[ the mortgaged as wetl as personal properties and assets of the Defendants for reatization of its dues. The Defendants are hereby restrained by means of injunction from depleting, transferring, encumbering, alienating or in any way deating with their properties/assets without first paying the claim of the Appticant Bank.
iii) A Recovery Certificate be issued uls 19(221 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 03'd Day of September, 2024,
o5 "'il (Ram Niw atet) Presi ln offi I
2 issues framed by the court
Whether the defendants are jointly and severally liable to pay the claim amount with interest and costs.
Whether the mortgaged and personal properties of the defendants are liable to be realized for the due amount.
2 provisions across 2 enactments
Bank of India, Indira Nagar, Distt.-Burhanpur (M.P.)
Saroj Singh Chouhan
Sujay Singh Chauhan
Ram Niwas Patet
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
