Allowed

Bank of India v. Ms Shri Ram Glass

DRT25 Jul 2024OA/713/2023

Case brief

AI extract

What is this about?

The Tribunal disposed of an application by Bank of India for recovery of dues from M/s Shri Ram Glass and Mrs. Pooja Agrawat. Proceeding ex-parte, the Tribunal allowed the claim and ordered issue of a Recovery Certificate under Section 19(2) of the Recovery of Debts and Bankruptcy Act.

What did the court decide?

Directing the Defendants to pay Rs. 25,84,189.77 plus interest, restraining them from dealing with assets, and directing issue of Recovery Certificate.

Bank of India versus Ms Shri Ram Glass — Contract and Commercial Disputes | 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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CAtvtP COURT AT RATPUR (c.G.)

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

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Originol Application No. - 713123

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Bank of lndia, 414, Manisha Buitding, Link Road, Rajendra Nagar, Bitaspur (C.G.)

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..... Appticant

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Versus

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M/s Shri Ram Gtass, Through its ProprietorMrs. Pooja Agrawat, Jarhabhata, Bitaspur (C.G. )

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Mrs. Pooja Agrawat, W/o Mr. Abhishek Singh, R/o H.No.^-1411293, Sultania Gati, Near Sai Maindir, Vinoba Nagar, Bitaspur (C.G.) 495 001

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..... Defendants

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Counsel for the Appticant : Shri Ashish Shroti, Advocate Defendants : Ex-parte

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JUDGMENT

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(Dated : 25th July, 20241

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The Appticant-Bank has fited the present Original Apptication uls 19 of Recovery of Debts and Bankruptcy Act on 22/05173 against the Defendants for recovery of Rs. 25,84,189.77 (Rupees Twenty Five Lac, Eighty Four Thousand, One Hundred Eighty Nine and Paisa Seventy Seven 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 through its Proprietor Defendant No.-2, the Appticant Bank sanctioned CC Limit of Rs. 19.50 Lac on 26/07117 and in consideration of the same the Defendants executed requisite loan documents. The Defendants avaited the credit facitity and atso executed Letter of Acknowtedgement of Debt & Securities on 08/05/20 but faited to liquidate the outstanding dues despite issuance of Legat Notice 12111121 by the Appticant Bank. The Appticant-Bank has retied upon the documents at Ex. A-1 to A-16 which were proved by Shri Ankur Deep Choubey, Senior Branch Manager.

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oA7t3l23

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Despite service of notice, the^{Defendants neitherappeared nor} fited written statement. They were^{proceededex-parte vide order dated} 03l10l23. There is therefore,^{no reason to disbetieve the contentionsof the} Bank. Considering the facts of the case, I^{opine that the Defendantsare} jointty and severatty tiabte to pay the ctaim amount together with interest and costs. The Appticant-Bank in^{its apptication has claimed interest} @11.20%^{p.a. with monthty rests.However,lfeel it fair and reasonabteto} grant interest @11.20% p.a. simpte pendentetite and future titl^{reatizationof} the dues. The personal^{propertiesand assets of the Defendantsare liabte to} be sotd for recovery of amount due.

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The Originat Apptication is attowed and it^is ordered^{as under-}

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i) The Defendants do pay^jointty and severatty Rs.^25,84,189.77 (Rupees Twenty Five Lac, Eighty Four Thousand, One Hundred Eighty Nine and Paisa Seventy Seven onty) together with^{pendentetite and future} interest @11.20% per annum simpte from the date of^{fiting of the OA, i.e.,} 72105/23, with costs titt its reatization.

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ii) The Appticant Bank is entitted to setl the^{persona[ 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 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^{25th Day} of^{Juty, 2074 al} Camp Court Raipur

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-D (Ram Niwas Patet) Presidin Officer

Bank of India v. Ms Shri Ram Glass

Case brief

What is this about?

What did the court decide?

Bank of India v. Ms Shri Ram Glass

Case brief

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What did the court decide?

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