Allowed

Uco Bank v. Sheikh Islam

DRT23 Jul 2025OA/1029/2022

Case brief

AI extract

What is this about?

The DRT adjudicated an Original Application filed by UCO Bank for recovery of Rs. 23,59,940.92 from Defendants who defaulted on a term loan. The court dismissed the ex-parte response, awarded the principal, simpler interest, and granted an injunction over assets.

What did the court decide?

Defendants ordered to pay Rs. 23,59,940.92 with interest at 10.20% p.a. simple; Recovery Certificate issued u/s 191 RDB Act; injunction on disposal of assets.

Uco Bank versus Sheikh Islam — Banking and Recovery | DRT (2025)

CONTD. ORDER^. SHEET

PAGE NO

CASE NO

DATE	DESCRIPTION OF THE ORDER	REMARK
oA1079t72 73t07t25	Judgment^pronouncedintheOpenCourt^{Camp at} Raipur.CopyofJudgment beissuedto thePartiesas perrutes.Record be consignedto theRecordRoom. (Ra atet) Presidingofficer DRT:Jabatpur CampCourt:Raipur	o'(r, i^r'o^t' c,

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DEBTS RECOVERY TR!BUNAL :^JABALPUR

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(for the States of Madhya Pradesh and Chhattisgarh)

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cAltP couRT AT RATPUR^(C.G.)

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

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Originol Application^{No. - 1029122}

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UCO Bank, Kohka, Bhitai^(C.G.)

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Appticant

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Versus

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01 ) Shri Sheikh lstam, 5/o Shri Abdut Sattar

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Smt. Shabha^Parveen W/o Shri Sheikh^lstam

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(1 & 2 R/o H.No.-3lF Road No.-33,

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Sector-6, Bhilai,^{Distt.-Durg,C.G.)}

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M/s Rataj^Buitders, Partner-Shri AjaY^Surana' S/o Shri Footchand^Surana, R/o Surana Jwetters,^{JawaharChowk,} Durg^(C.G.)

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..... Defendants

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Counset for the Appticant :^{Shri AdamyaBajpai,Advocate}

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Defendants : Ex-Parte

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JUDGMENT

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(Dated : 23'd JulY, 2025)

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l.TheAppticant.BankhasfitedthepresentOriginatApplication u/slgofRecoveryofDebtsandBankruptcyActon05l0'lzzagainstthe DefendantsforrecoveryofRs.23,5g,g40'92(RupeesTwentyThreeLakh F,iftyNineThousand,NineHundredFourtyandPaisaNinetyTwoon[y)along with interest and^{other reliefs as stated.}

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The brief facts of^the case are that^{on the request of} Defendant No.^-1 &. 2, the APPlicant Bank sanctioned^{Term Loan (under} product of Shetter) Rs. 30^{Lakh on71l07/15 for purchaseof FtatNo.-502,5th} Floor, 5th Btock,^{Rajat Homes,Hari Nagar, Durg, C'G', area 1350 sq'ft' and} in consideration of^{the same,the DefendantNo.-1 &. 2 executedrequisite} loan documents.^{A TripartiteAgreement was alsoexecuted betweenthe} DefendantNo.-1&3on22lOTl15.TheDefendantsavailedthecreditfacitjty but did not^{execute thesatedeedfor creation of mortgage'The Defendants}

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oA1029122

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executed Debit Balance Confirmation Letter lastty on 23/01 /20 but faited to liquidate the outstanding dues despite issuance of Legat Notice lastty on 70/01 127 by the Appticant Bank. The Applicant-Bank has retied upon the documents at Ex. A-1 to A-'14 which were proved by Shri Tarachand Kusan Meshram, Chief Manager.

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Despite service of notice, the Defendants neither appeared nor fited written statement. They were proceeded ex-parte vide order dated 21 /08/24. 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 severatly liabte to pay the claim amount together with interest and costs. The Appticant-Bank in its apptication has ctaimed interest @10.20y" p.a. with monthly rests. However, I feet it fair and reasonable to grant interest @10.20% p.a. simpte pendentelite and future titt reatization of the dues. The personal properties and assets of the Defendants are tiable to be sotd for recovery of amount due.

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The Original Application is atlowed and it is ordered as under-

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i) The Defendants do pay jointty and severatty Rs. 23,59,940.92 (Rupees Twenty Three Lakh Fifty Nine Thousand, Nine Hundred Fourty and Paisa Ninety Two only) together with pendentet'ite and fuiure interest @10.20% per annum simpte from the date of fiting of the OA, i.e.,05/0g/22, with costs ti[[ its realization.

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ii) The Appticant Bank is entitled to sett 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, atienating or in any way deating with their properties/ assets without first paying the ctaim of the Appt.icant Bank.

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iii) A Recovery Certificate be issued uls 19122) 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 Day of 23d Juty, 2025 at Camp Court Raipur.

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o? am tet) Presidine Officer

Uco Bank v. Sheikh Islam

Case brief

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What did the court decide?

Uco Bank v. Sheikh Islam

Case brief

What is this about?

What did the court decide?

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