Debts Recovery Tribunal allowed the bank's application for recovery of outstanding dues. The court directed respondents to pay principal amounts and interest while restraining them from alienating assets.
Payment of approximately Rs. 47 Lakhs principal with applicable interest and issuance of Recovery Certificate. Injunction on disposal of assets.
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DEBTS RECOVERY TRIBUNAL : JABALPUR
(for the States of Madhya Pradesh and Chhattisgarh)
(Presiding Officer - Hon'ble Shri Ram Niwas Patet)
Original Application No. - 830122
State Bank of lndia, Stressed Assets Recovery Branch, State Bank Bhawan, 5, Y.N. Road, Indore (M.P.)
Applicant
Versus
Sandeep Kag, 01 ) S/o Shri Kaluram Kag Proprietor- Rishika HoteI and Restaurant
(Both at Nayapura, Gandharv Talai, Badnawar Road, Badnagar, District-Ujjain, M.P. 456 771) Defendants
Counsel for the Appticant : Shri Arun K. Pandey, Advocate Defendants : Ex-parte
JUDGMENT
(Dated : 02nd December,2024)
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Applicant Bank. The Appticant-Bank has retied uponthe documentsat Ex A-'l to A-39 which wereproved by Shri Tamrat La[ Kori, ChiefManager.
i) The Defendant No.-1 and 2 do pay jointty and severalty Rs. 27,65,115.79 (Rupees Twenty Seven Lac, Sixty Five Thousand, One Hundred Fifteen and Paisa Seventy Nine on[y) total due in second term loan and working capital term loan account and Defendant No.-1 do further pay Rs. 19,33,144.45 (Rupees Nineteen Lac, Thirty Three Thousand, One Hundred Fourty Four and Paisa Fourty Five onty) totaL due in term loan account+ cash credit account + vehicle loan account. The Defendant do atso pay pendentelite and future interest @12Yo p,a, simple in term loan and cash credit account, interest @10,45% p.a. simpte in vehicte loan account, interest @12.80% p.a. simpte in second term [oan account and interest @9A0%p.a. simpte in working capital term toan (GECL) account from the date of fiting of the OA, i.e.,15/06/22, with costs tit[ its reatization.
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ii) The Appticant Bank is entitted to se[[ the 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 with theirproperties/ assets without first paying the respective ctaim of the AppLicant Bank.
iii) A Recovery Certificate be issued uls 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.
Judgment pronounced in the open court on this 02"d Day of December,2074.
u'
m as ) Pa tet)
Presidinq Off icer
State Bank of India
Sandeep Kag
Komal Kag
Shri Ram Niwas Patet
As recorded by the court registry
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