The Trust allowed the Bank of Baroda's application for recovery of dues from M/s Swastik Traders and the proprietor. The court ordered payment of principal, interest, costs, and sale of mortgaged property for realization.
Payment of Rs. 1.14 Crore plus 10.30% interest; Sale of mortgaged and personal properties; Injunction on disposal of assets.
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DEBTS RECOVERY TRIBUNAL : JABALPUR
(for the States of Madhya Pradesh and Chhattisgarh)
(Presiding Officer - Hon'bte Shri Ram Niwas Patet)
Originol Application No. - 718122
Bank of Baroda, Regionat Stressed Assets Recovery Branch, Ptot No.-12, R.C. Scheme No.-'134, Nipanjya Main Road, lndore (M.P.)
..... Appticant
Versus
(Both at 77, Shree Yantra Nagar, Sector"C, Khandwa Road, Limbodi, lndore 452020)
..... Defendants
Counset for the Appticant : Shri Arun Kuamr Mishra, Advocate Defendants : Ex-parte
JUjGA{rrI loate7l6-fFffiJozl;
'1. The Applicant"Bank has fited thepresent Original Apptication u/s 19 of Recovery of Debts and Bankruptcy Acl on 25105/22 against the Defendants for recovery of Rs. 1,14,28,27E.00 (Rupees One Crore, Fourteen Lac, Twenty Eight Thousand, Two Hundred and Seventy Eight onty) atong with interest and other retiefs as stated.
2
oA718/22
Bank. The Appticant'Bankhas reliedupon the documents at Ex' A'1 to A-14 which were proved by Shri Satim Khan, ChiefManager.
i) The Defendants do payjointty and severatly Rs. 1,14,28,278.00 (Rupees One Crore, Fourteen Lac, Twenty Eight Thousand, Two Hundred and Seventy Eight onty) together with pendentelite and future interest @10.30% per annum simple from the date of fiting of the OA, i.e.,25105122, with costs ti[[ its realization.
ii) The Appticant Bank is entitted to setl 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 dealing with their properties/assets without firstpaying the claim of the Appticant Bank.
iii) A Recovery Certificate be issued uls 19(22) of Recovery of Debts and Bankruptcy Act. The applicant bank may fite a memo of cost within 7 days for preparing Recovery Certificate.
Judgmentpronounced in the open court on this 05th Day of Aprit, 2024.
€'Lt, ( m Niwas Patel) Presidine Officer
1 issue framed by the court
Whether to allow the original application filed under Section 19 of the Recovery of Debts and Bankruptcy Act for recovery of outstanding dues and interest.
2 provisions across 1 enactments
Bank of Baroda
M/s Swastik Traders Through Shri Shankardas Bairagi
Shri Shankardas Bajragi
Ram Niwas Patet
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
