Allowed

Bank of Baroda v. Shailendra Singh Gond

DRT20 Dec 2024OA/50/2022

Case brief

AI extract

What is this about?

Applicant bank filed an original application under S. 19 of RDBA for recovery of dues from borrowers and guarantor. Respondents did not appear. Court allowed application, granted amount with interest, and ordered release of recovery certificate against mortgaged property.

What did the court decide?

Directed Defendants to pay Rs. 24,21,940 plus interest at 9.65% p.a.; restrained disposal of properties; Recovery Certificate to be issued u/s 19(2).

Bank of Baroda versus Shailendra Singh Gond — Banking and Recovery | DRT (2024)

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DEBTS RECOVERY TRIBUNAL : JABALPUR

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(for the States of Madhya pradesh and Chhattisgarh )

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(Presiding Officer - Hon'bte Shri Ram Niwas patet)

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Original Application No. - 50/22

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Bank of Baroda, Berta (C.G.)

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Appticant

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Versus

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Shaitendra Singh Gond, S/o Suresh Gond, R/o Vittage-Karamtara, Tehsit-Saja, District-Bemetera (C.G. ) 491335

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Godavari Lodhi,

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W/o Sukhnandan Lodhi, R/o Ward No.-3, Durganagar, Birgaon, Raipur, Beergain (C.G.) 493221

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..... Defendants

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Counsel for the Appticant : Shri Shreyas Dubey, Advocate

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Defendants : Ex-parte

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JUDGMENT

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(Dated : z0th Decernber,2024')

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The Appticant-Bank has fited the present Originat Apptication u/s 19 of Recovery of Debts and Bankruptcy Act on 14112124 against the Defendants for recovery of Rs. 24,21 ,940.00 (Rupees Twenty Four Lakh, Twenty One Thousand, Nine Hundred and Fourty onty) atong with interest and other retiefs as stated.

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The brief facts of the case are that on the request of Defendant No.-1, the Appticant Bank sanctioned Term Loan of Rs. 26 Lakh on 22/03/17.|n consideration of the sanction of credit facitity the Defendant No.-1 as borrower and Defendant No.-2 as guarantor in addition to execution of loan and guarantee documents have atso created equitable mortgage over the immovabte property, i.e., alt that^piece and^parcel of [and and buitding situated at Survey No.-436, 44311,44911,6/1,6/2, tota[ 5 Khasras^situated at Vittage-Karamtara, PH N: 18, Revenue Circte-Saja,^{Tehsit-Saja, District-} Bemetara, C.G., admeasuring2.620 hectare; betonging^{to DefendantNo.-1'} The Defendant No.-1 avaited the credit facitity^{to the extent of Rs' 34 Lakh} and also executed Revival Letter^{(Letter of Acknowtedgmentof Debts)on} 20l03l20 but did not maintain^{financiaI disciptine.The Defendantsfaited to}

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Ol\ 50122

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tiquidate the outstanding dues despite issuance of Legal Notice on 18/09120 by the Appticant Bank, The Appticant-Bank has retied upon the documents at Ex. A-1 to A-13 which were proved by Shri Jitendra Kumar Chourasia, Chief Manager.

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Despite service of notice, the Defendants neither appeared nor filed written statement. They were proceeded ex-parte vide order dated 71 /07 123. There is therefore, no reason to disbelieve the contentions of the Bank. Considering the facts of the case, I opine that the Defendants are jointty and severalty tiabte to pay the ctaim amount together with interest and costs. The Appticant-Bank in its apptication has claimed interest @9.65% p.a. with monthly rests, However, I feet it fair and reasonable to grant interest @9.65% p.a. simpte pendentetite and future ti[[ reatization of the dues. The mortgaged property is liabte to be sold for recovery of amount due along with the personal properties and assets of the Defendants.

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The Original Application is attowed and it is ordered as under-

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i) The Defendants do pay jointty and severatty Rs. 24,21 ,940.00 (Rupees Twenty Four Lakh, Twenty One Thousand, Nine Hundred and Fourty onty) together with pendentetite and future interest @9.65% per annum simple from the date of fiting of the OA, i.e., 14112/24, with costs titt its realization.

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ii) The Appticant Bank is entitted to se[[ the mortgaged as we[[ 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, alienating or in any way deating w.ith their properties/assets without first paying the ctaim of the Appticant Bank.

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iii) A Recovery Certificate be issued u/s 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.

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Judgment pronounced in the open court on this 20th Day of December,2024.

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)-h .pwas atet) Pre idin 0fficer

Bank of Baroda v. Shailendra Singh Gond

Case brief

What is this about?

What did the court decide?

Bank of Baroda v. Shailendra Singh Gond

Case brief

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