Allowed

State Bank of India v. M/S Rajinder Kumar Thakur and Brothers

DRT24 Sept 2024OA/709/2022

Case brief

AI extract

What is this about?

The Tribunal allowed the bank's application for recovery of Rs.27,71,990/- with interest against the defendants, confirming the loan advance and mortgage of land, and ordered the issuance of a Recovery Certificate.

What did the court decide?

Allowed recovery of Rs.27,71,990/- with interest; Recovery Certificate issued; parties to appear for distribution of sale proceeds. Pending IAs disposed.

State Bank of India versus M/S Rajinder Kumar… — Contract and Commercial Disputes | DRT (2024)

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IN THE DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH

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BEFORE: A S NARANG, PRESIDING OFFICER

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OA No: 709/2022

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Date of Institution: 05.04.2022 Date of Decision: 24.09.2024

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SBI, its local head office at Sector 17-A, Chandigarh, SARB, office at Kasumpti, District Shimla.

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……..Applicant

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Vs.

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M/s Rajinder Kumar Thakur and Brothers VPO Telka (Salwan), Tehsil Salooni, District Chamba, H.P. through its proprietor Rajinder Kumar.

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Rajinder Kumar S/o Mangat Ram, R/o VPO Salwan, Tehsil Salooni, District Chamba.

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Mangat Ram S/o Hardeu, R/o VPO Salwan, Tehsil Salooni, District Chamba.

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……….Defendants

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Advocates

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Sh. Gurinderjit Singh, Counsel for the applicant bank. Defendants – ex parte

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OA for the Recovery of Rs.27,71,990/- with interest @12.05% per annum with yearly rests from 05.04.2022.

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ORDER

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SBI, (Bank) has filed this application under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993 (RDB Act) for the recovery of Rs.27,71,990/- with interest against M/s Rajinder Kumar Thakur and Brothers and others (defendants).

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Bank’s case is that on 27.10.2014, it had granted a loan of Rs.10.00 Lacs to defendant No.1 through its proprietor i.e. defendant No.2 in the form of C.C Limit for business purpose. Defendant No.3 had stood guarantor. Further, at the request of defendants the limit was duly enhanced from time to time and last on 11.02.2019, the limit was duly enhanced from Rs.18.00 Lacs to Rs.24.50 Lacs. Thereafter, on

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28.05.2020, bank had granted GECL Limit of Rs.4.95 Lacs to defendant No.1 through defendant No.2. To secure the loan, Defendant No.3 had mortgaged his land (fully detailed in para No.3(A) of the application). The loans were chargeable to different rates of interest. On 05.04.2022, a sum of Rs.27,71,990/- was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.

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On 12.05.2022, summonses were sent to the defendants by registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 24.05.2023, they were proceeded ex parte .

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In order to prove its case, the Bank has placed on record the affidavit of Mr. Dawa Tashi Kinner, Assistant General Manager along with the loan and security documents and marked them as Exhibit A-1 to A-24.

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I have perused the evidence on the record. I am of the considered view that the Bank has proved its case that it had advanced the loan of Rs.29.45 Lacs and on 05.04.2022, a sum of Rs.27,71,990/- was due. 6. Accordingly, the application of the bank for the recovery of Rs.27,71,990/- (Rupees Twenty Seven Lacs Seventy One Thousand Nine Hundred and Ninety Only) with interest @12.05% per annum with yearly rests from 05.04.2022, till the date of payment is hereby allowed with costs. The liability of all the defendants would be joint and several. Bank can recover its dues by the sale of mortgaged land fully detailed in para No.3(A) of the application as well as from the personal movable and immovable property(ies) of the defendants. 7. Pending IAs, if any, stand disposed of.

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Recovery Certificate be issued accordingly.

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Parties are directed to appear before Recovery Officer on 25.10.2024, who is directed to distribute the sale proceeds of the mortgage land 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.

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Pronounced in the open court. (A S Narang) Dated: 24.09.2024 Presiding Officer DRT-1, Chandigarh Pankaj

State Bank of India v. M/S Rajinder Kumar Thakur and Brothers

Case brief

What is this about?

What did the court decide?

State Bank of India v. M/S Rajinder Kumar Thakur and Brothers

Case brief

What is this about?

What did the court decide?

What the court decided

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