Allowed

Punjab National Bank v. Mukesh Chouksey

DRT18 Jan 2024OA/365/2022

Case brief

AI extract

What is this about?

Allowed the original application filed by Punjab National Bank for recovery of dues of Rs. 31,46,885.18. Ordered the defendants to pay the principal amount with interest at 12% p.a. and directed issuance of a Recovery Certificate. The mortgaged property and personal assets were declared liable for sale to realize the dues.

What did the court decide?

Ordered payment of Rs. 31,46,885.18 plus interest at 12% p.a. from the date of application and issuance of a Recovery Certificate.

Punjab National Bank versus Mukesh Chouksey — Banking and Recovery | DRT (2024)

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DEBTS RECOVERY TRIBUNAL : JABALPUR

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(for the States of lriadhya Pradesh and Chhattisgarh)

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(Presiding Officer - Hon'ble Shri Ram Niwas Patet)

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Origina( Awtication No. - 365122

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Punjab Nationat Bank, PTC Branch, lndore^(M. P. )

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.... Appticant

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Versus

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Mukesh Chouksey, S/o Shri Ambaram Chouksey

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1. Smt. Sangeeta Chouksey, W/o Shri Mukesh Chouksey

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(Both R/o Otd 420 New 20, Cterk Cotony, Near Hotet Brij Bihar, Vijay Nagar, lndore (M.P.) 452010

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.... Defendants

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Counset for the Appticant : Shri KaPit Duggal, AdYocate Defendants : Ex-parte

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JUDGMENT

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(Dated : 18th January, 2024\

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'1. The Appticant-Bank has fited the^present Original^Apptication u/s 19 of Recovery of Debts and Bankruptcy^{Acl on '14/03122againstthe} Defendants for recovery of Rs. 3'1,46,885.18^{(RupeesThirtyOne Lac,Fourty} Six Thousand, Eighty Hundred Eighty Five and^{Paisa Eighteenonty) atongwith} interest and other retiefs as stated. The credit^{facitities were sanctioned by} United Bank of lndia which was^{amatgamatedwith Punjab NationatBank} (hereinafter referred to as the Appticant'Bank) vide Notification^dated 04t03t20.

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The brief facts of the case are that^{on the request of} Defendant No.-1 & 2, the Appticant^{Bank sanctionedHomeLoan of Rs. 29.25} LaconT5/01118 and in consideration^{of the sametheDefendantsin addition} to execution of toan documents^{have atso created equitabtemortgageover} the immovabte^property, i.e.,^{residentialhouse situatedat Scheme No.'30,} Jabran Cotony, lndore,^{constructed on PLotNo.'77 (Plot admeasuringabout} 55.754 sq.mtr.)^{godownconstructed on areaadmeasuring about55 754} sq.mtr, first ftoor^{area admeasuringabout 55'754 sq.mtr.,second floorarea} admeasuring about 55.754^{sq.mtr.;beLonging to Defendant No"'l The} Defendants avaited the credit^{facitities and also executedBatanceand}

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oA365D2

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Security Confirmation Letter on 2110i /21 but fail.ed to tiquidate the outstanding dues despite issuance of Recatt Notice on 01l07l2.1 by the Appticant Bank. The Appticant-Bank has retied upon the documents at Ex A-1 to A-15 which were proyed by Shri Rajesh Kumar Bajaj, Chief Manager.

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Despite service of notice, the Defendants neither appeared nor fited written statement. They were proceeded ex-parte vide order dated 07 /02/23. There is therefore, no reason to disbetieve the contentions of the Bank. Considering the facts of the case, I opine that the Defendants are jointty and seyeratty liabte to pay the ctaim amount together with interest and costs. The Appticant-Bank in its apptication has claimed interest @12% p.a. with monthty rests. Howeyer, I feet it fair and reasonable to grant interest @12% p.a. simp(e pendentetite and future ti[ reatization of the dues. The mortgaged property is tiabte to be sotd for recovery of amount due atong with the personaI properties and assets of the Defendants.

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The Original Apptication is attowed and it is ordered as underi) The Defendants do pay jointty and severatty Rs. 31,.16,885..tg (Rupees Thirty One Lac, Fourty Six Thousand, Eighty Hundred Eighty Five and Paisa Eighteen onty) together with pendentetite and future interest @12% per annum simpte from the date of fiting of the OA, i.e., 14lO3lZZ, with costs tilI its reatization.

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

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iii) A Recovery Certificate be issued uls 19(Z2l of Recovery of Debts and Bankruptcy Act. The appticant bank may fite a memo of cost within 7 days for preparing Recovery Certificate.

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Judgment pronounced in the open court on this 18u Day of January, 2024

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19', (Ram Patet)^l.>h P dine Officer

Punjab National Bank v. Mukesh Chouksey

Case brief

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Punjab National Bank v. Mukesh Chouksey

Case brief

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