Allowed

State Bank of India v. Ajay Kumar Banjare

DRT18 Jul 2024OA/669/2022

Case brief

AI extract

What is this about?

Tribunal allowed banking recovery application filed by State Bank of India against borrowers seeking Rs. 30,07,399.00 along with interest. Court held defendants jointly and severally liable and ordered issuance of recovery certificate.

What did the court decide?

Direct payment of Rs. 30,07,399.00 with interest; issuance of recovery certificate under Section 19(2); restraint on dealing with properties.

State Bank of India versus Ajay Kumar Banjare — Contract and Commercial Disputes | DRT (2024)

¶1

DEBTS RECOVERY TRIBUNAL : JABALPUR

¶2

(for the States of Madhya Pradesh and Chhattisgarh)

¶3

cAttP couRT AT RATPUR (C.G.)

¶4

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

¶5

Original Application No.^- 669122

¶6

State Bank of lndia, Station Road, Jhanjgir, Distt.^{-Janjgir-Champa} (C.G. )

¶7

..... Appticant

¶8

Versus

¶9

Ajay Kumar Banjare, S/o Mr. Puniram Banjare

¶10

Mrs. Rajni Banjare, W/o Mr. Ajay Kumar Banjare

¶11

(Both at House No.-59l30, Ward No.-18, Deepti Vihar Cotony, Janjgir-Champa, C.G.; Atso at: Ward No.-13, Kuryari, Godhna, Janjgir-Champa, C.G.)

¶12

..... Defendants

¶13

Counse[ for the Appticant : Shri Vivek Shukta, Advocate

¶14

Defendants : Ex-parte

¶15

JUDGMENT (oatedl t^gtFJul)r, 7oza7

¶16

The Appticant-Bank has fited the present Original Apptication u/s 19 of Recovery of Debts and Bankruptcy Act on 19104/22 against the Defendants for recovery of Rs. 30,07,399.00^(Rupees Thirty Lac, Seven Thousand, Three Hundred and Ninety Nine onty) atong with interest and other retiefs as stated.

¶17

The brief facts of the case are that on the request of Defendant No.-1 & 2, the Appticant Bank sanctioned Term/Home^Loan of^Rs. 25 Lac and in consideration of the same the Defendants in addition to execution of loan documents, have also created equitabte mortgage^{over the} immovabte property, i.e., Mouja-Janjgir, P.H. No.-47, R.N.M. Janjgir,^Part of Khasra No.-4402/17, area22x47=1034 sq.ft.^(96.09 sq.mtr),^{Ptot No.-D-} 24, Deepti Vihar Cotony, Dr. Rajendra Prasad Ward No.-18, Tehsit-Janjgir, District-Janjgir-Champa (C.G.). The Defendants avaited the home^{[oan but} faited to tiquidate the outstanding dues despite^issuance of^{Legal Noticeon}

¶18

¶19

oA 669122

¶20

17101122 and initiation of action under the Securitisation Act by the Appticant Bank. The Appticant-Bank has retied upon the documents at Ex A-1 to A-9 which were proved by Shri Amarchand Awasariya, Branch Manager.

¶21

Despite service of notice, the Defendants neither appeared nor fited written statement. They were proceeded ex-parte vide order dated 21108123. 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 severatty tiabte to pay the ctaim amount together with interest and costs. The Appticant-Bank in its apptication has claimed interest @7.50% p.a. with monthty rests. However, I feel it fair and reasonabte to grant interest @7.50% p.a. simpte pendentetite and future titt reatization of the dues. The mortgaged property is liabte to be sotd for recovery of amount due atong with the personal properties and assets of the Defendants.

¶22

The Originat Apptication is attowed and it is ordered as under-

¶23

i) The Defendants do pay^jointty and severatty Rs. 30,07,399.00 (Rupees Thirty Lac, Seven Thousand, Three Hundred and Ninety Nine onty) together with pendentetite and future interest @7.50%^per annum^simpte from the date of fiting of the OA, i.€., 19104122, with costs titt its reatization.

¶24

ii) The Appticant Bank is entitled 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^{injunctionfrom} depteting, transferring, encumbering, atienating or^{in any way deating with} their properties/assets without first^paying the^{ctaim of the AppticantBank.}

¶25

iii) A Recovery Certificate be issued u/s¹⁹⁽²²⁾ of^Recoveryof Debts and Bankruptcy Act. The appticant^{bank may fite a memo of cost} within 7 days for preparing Recovery Certificate.

¶26

Judgment pronounced in the open court on this^{18thDay of Juty, 2024 al} Camp Court Raipur

¶27

.>l) (Ram Niwas PateI^{</sup> ) Presi tline Officer}

State Bank of India v. Ajay Kumar Banjare

Case brief

What is this about?

What did the court decide?

State Bank of India v. Ajay Kumar Banjare

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

Coram

Case details

Similar cases

Icici Bank Limited versus Metalman Industries Ltd.

Ms Hotel Royal Palace versus Central Bank of India

Ms Johri Sons through Its Prop Rajkumar Johri versus Au Small Finance Bank Limited

Idbi Bank versus Bisahu

Bank of India versus Shri G. Prateek Kumar

Bank of India versus Ms Bharti Mobile