Allowed

Central Bank of India v. Ms Danil Casual Ware

DRT14 Jan 2025OA/1041/2023

Case brief

AI extract

What is this about?

The Tribunal entertained an application under the RDB Act for recovery of dues totaling Rs. 24,18,447.00. As the defendant failed to appear, the applicant's evidence was accepted, leading to a decree for payment and an injunction against asset alienation.

What did the court decide?

Defendant ordered to pay Rs. 24,18,447.00 with interest at 9.60% p.a.; injunction against alienating assets; Recovery Certificate under Section 19(2) to be issued.

Central Bank of India versus Ms Danil Casual Ware — Banking and Recovery | DRT (2025)

¶1

DEBTS RECOVERY^{TRIBUNAL : JABALPUR}

¶2

(for the States of Madhya Pradesh^{and Chhattisgarh)}

¶3

cAtAP COURT AT^TNDOREqr'P.)

¶4

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

¶5

Original APPlicotion^{No' - 1041 123}

¶6

Central bank of^lndia, 44, Sittamata Bazar Street Ctoth Market,^{tndore (M.P.)}

¶7

..... Applicant

¶8

Versus

¶9

M/s Danil Casual Ware, Through its ProPrietorMr. Jackie Sotanki, S/o Pyarechand^Sotanki, 85, Airport Road,^{ChhatraPati Nagar,} lndore^(M.P.)452005

¶10

Defendant

¶11

Counsel for the^{AppLicant: Shri Sanjeev Dubey, Advocate}

Defendant

: Ex-Parte

J UDGMENT

(Dated : 14th JanuarY,²⁰²⁵⁾

¶16

The Appticant-Bank^{has fiLed the present Originat Application} u/slgofRecoveryofDebtsandBankruptcyActon2T/09l23againstthe Defendant for^{recoveryof Rs. 24,18,447.00 (Rupees Twenty Four Lakh'} EighteenThousand,FourHundredandFourtySevenonty)atongwithinterest and other retiefs^{as stated.}

¶17

The brief facts of^{the case are that on the requestof} Defendant, the^{Appticant Bank sanctionedCash CreditLimit of Rs' 22 Lakh} on 15/07/19 which was^{renewed on 25101 123 and Term Loan of Rs' 4'30} Lakh on 25101^{lz3. ln considerationof the sanction of credit facilities the} Defendantexecutedrequisiteloandocuments.TheDefendantavailedthe credit facitities but^{faited to tiquidate the outstandingdues despiteissuance} of Recatt Notice on^{16logl23by the AppticantBank. The Applicant-Bankhas} relied upon the documents^{at Ex. A-1 to A-16 which wereproved by Shri} Ashok Das, Chief^Manager.

¶18

Despite service^{of notice,the Defendantneither appeared nor} fited written statement.^{TheDefendantwas proceeded ex-parte vide order} daled05lOT/24.Thereistherefore,noreasontodisbelievethecontentions

¶19

¶20

oA 1041/23

¶21

oftheBank.Consideringthefactsofthecase,lopinethattheDefendantis tiabte to^pay the ctaim^{amount togetherwith interest and costs'The} Appticant-Bank in its apptication^{has ctaimedcontractual [email protected]%} p.a. ptus penat/ additional interest.^{However, I feel it fair and reasonableto} grant interest @9.60%^p.a. simpte^{pendentetite and futuretill reatization of} the dues. The^{personal propertiesand assetsof the Defendantare liabte to} be sotd for recovery of^{amount due.}

¶22

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

¶23

i) The Defendant do^{pay Rs' 74,18,447.00(Rupees Twenty Four} Lakh, Eighteen Thousand,^{Four Hundredand FourtySeven on[y)together} with pendentetite and^{[email protected]%per annum simple from the} date of fiting of the OA,^{i.e.,22109173,with costs ti[[ its reaLization'}

¶24

ii) The hppticant Bank is entitted to^{setl the personal properties} and assets of the Defendant for^{realizationof its dues. The Defendant is} hereby restrained by means of^{injunctionfrom dep||eting,transferring,} encumbering, atienating or^{in anyway dealing with its/his properties/ assets} without first paying the ctaim^{of the AppticantBank.}

¶25

iii) A Recovery Certifjcate^{be issued uls 19(21)of Recoveryof} Debts and Bankruptcy Act.^{The applicant bank may file a memo of cost} within 7 days for^{preparingRecoveryCertificate'}

¶26

Judgment^{pronounced in the open court on this14th Day of January,2025 al} Camp Court lndore.

¶27

s) (Ram asP atei)^\t{' I Presidinq Of f icer

¶28

;

Central Bank of India v. Ms Danil Casual Ware

Case brief

What is this about?

What did the court decide?

Central Bank of India v. Ms Danil Casual Ware

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

Coram

Case details

Similar cases

State Bank of India versus Kalawati

Punjab National Bank versus Mamta Bai Jat

Central Bank of India versus Ms Nishit Creation

Uco Bank versus M/S Parmeshwar Industries

Bank of India versus Vasant Pandharinath Patil

Bank of India versus M/S Neelhans Herbs and Bio Sciences through Its Proprietor- Hanish Ajmera