Income Tax Department recovered substantial amount of duty arrears from the appellant upon summary assessment and confirmed the recovery. The order was challenged but dismissed.
Defendants ordered to pay Rs. 1,86,65,149.18 with interest; Recovery Certificate issued under S. 19(2); injunction against dealing with properties.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
DEBTS RECOVERY TRIBUNAL JABALPU R
(for the States of Madhya Pradesh and Chhattisgarh)
(Presiding Officer - Hon'ble Shri Ram Niwas Patet)
Originol Applicotion No. - 1184/23
Canara Bank, S.M.E. Branch, Nandini Road, Bhitai (C.G.)
Appticant
Versus
01 ) M/s Harishyam Engineering, Through its ProprietorShri Tikaram Chandel, Ptot No.-80, Engineering Park, Heavy lndustria[ Area, Hathkoj, Bhitai, District-Durg(C.G. )
Defendants
Counsel for the Appticant : Shri ALok Mishra, Advocate
Defendants : Ex-parte
JUDGMENT
( oateolJorF lan uarlr, zo zs )
2
oA I 184/23
Acknowledgment of Debt & Security on 05103172 but did not adhere to the financiaI discipline. The accounts were ctassified as NPA and the Defendants faited to [iquidate the outstanding dues despite issuance of Notice dated 11/04123 u/s 13(2) of the Securitisation Act by the Appticant Bank. The Applicant-Bank has retied upon the documents at Ex. A-1 to A-17 which were proved by Shri Prashant Kumar Pan, Manager.
i) The Defendants do payjointty and severatly Rs. 1,86,65,149.18 (Rupees One Crore, Eighty Six Lakh, Sixty Five Thousand, One Hundred Fourty Nine and Paisa Eighteen onty) together with pendentetite and future 1,86,65,149.18 (Rupees One Crore, Eighty Six Lakh, Sixty Five Thousand, One Hundred Fourty Nine and Paisa Eighteen from the date of fiting of the OA, i.e.,18/10123, with costs ti[[ its reatization.
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 ApplicantBank.
J
oA, l].84t23
iii) A Recovery Certificate be issued uls 19(22) of Recovery of Debts and Bankruptcy Act. The applicant bank may file a memo of cost within 7 days for preparing Recovery Certificate.
Judgment pronounced in the open court on this 30th Day of January, 2025.
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(Ra m Niwas Patet)
Presidinq Officer
3 issues framed by the court
Whether the defendants are jointly and severally liable to pay the claimed debt with interest under the Recovery of Debts and Bankruptcy Act.
Whether a Recovery Certificate should be issued under Section 19(2) of the Recovery of Debts and Bankruptcy Act upon non-appearance of defendants.
Whether the mortgaged and personal properties of the defendants can be utilized for realization of dues.
2 provisions across 2 enactments
Canara Bank, S.M.E. Branch, Nandini Road, Bhitai (C.G.)
M/s Harishyam Engineering, Through its Proprietor Shri Tikaram Chandel
Shri Tikaram Chandet
Shri Ram Niwas Patet
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
