Allowed

Uco Bank v. Pusha Rajesh Jha

DRT22 Jul 2025OA/1229/2022

Case brief

AI extract

What is this about?

The Tribunal allowed the bank applicant's recovery application filed under Section 16 of the Recovery of Debts and Bankruptcy Act. In the absence of defendants, the Tribunal held them liable to repay the principal amount with interest and relaxed the claimed interest rate to 9.70% per annum. A Recovery Certificate was directed to be issued.

What did the court decide?

Defendants to pay ₹37,31,129 with interest at 9.70% p.a.; mortgaged and personal properties to be sold; Recovery Certificate to be issued.

Uco Bank versus Pusha Rajesh Jha — Writ and Judicial Review | DRT (2025)

GONTD. ORDER. SHEET

PAGE NO

CASE NO

DATE DESCRIPTION OF THE ORDER REMARK
oA 1729/22
22t07 /25
Judgment pronounced in the Open Court Camp at
Raipur. Copy of Judgment be issued to the parties as
per rutes. Record be consigned to the Record Room.
o
(Ra s Patet)
Pre ding officer
DRT : Jabalpur
Camp Court : Raipur ffi:

¶5

DEBTS RECOVERY TRIBUNAL : JABALPUR

¶6

(for the States of Madhya Pradesh and Chhattisgarh)

¶7

cAttP couRT AT RATPUR^(C.G.)

¶8

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

¶9

Original Application No.^{- 1229122}

¶10

UCO Bank, Pension bada Branch, Raipur^(C.G.)

¶11

..... Appticant

¶12

Versus

¶13

01 ) 5mt. PushPa Rajesh^Jha, W/o Shri Rajesh NandkishorJha

¶14

1. Shri Rajesh^{NandkishorJha,} W/o Shri NandKishorJha

¶15

(Both R/o Mahesh Nigam Gati^No.-5, Sector-3, Shivanand^Nagar, Near Electricity^{Office,Raipur, C.G. 492001)} Defendants

¶16

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

¶17

: Ex-Parte Defendants

¶18

J UDGMENT

¶19

lOated^{:22ndJulY, 2025)}

¶20

The Appticant-Bank^{has fited the present OriginalApptication} u/s 1g of^{Recovery of Debtsand BankruptcyAct on 23l09/22againstthe} DefendantsforrecoveryofRs.3T,3'1,129'00(RupeesThirtySevenLakh' Thirty One^{Thousand,One Hundredand TwentyNine onty)atong with} interest and^{other retiefsas stated'}

¶21

The brief^{facts of the case are that on the requestof} Defendant^{No.-1 & 2, the Appticant BanksanctionedTerm Loanof Rs' 30} Lakh on^{26t07 116 for purchase of new house and in consideration of the} same the^{Defendants in additionto execution of loan documents have atso} createdequitabtemortgageovertheimmovableproperty,i.e.,residential Land&BuitdingsituatedatHouseNo..52,Mathpurena..ChaurasiaCotony'', P.H. No.-105/59/61,^{diverted Khasra No'-195/40 Raipur(C'G')' area 748} to Defendant^{No"1. TheDefendantsavaited the credit} sq.ft.;^betonging executed^{Batance ConfirmationLetter on 74108122but'} facititY^{and also} faited to^tiquid ate the^{outstandingdues despiteissuance of Legat}

¶22

¶23

oA 1229t22

¶24

Noticetastty on 24/03/21 andinitiation of action under the securitisation Act by the Appticant Bank. The Appticant-Bank has retied upon the documents at Ex. A-1 to A-15 which were proved by Shri Sanjib Kumar Gouda, Chief Manager.

¶25

Despite service of notice, the Defendants neither appeared nor fited written statement. They were proceeded ex-parte vide order dated 07 108/24. There is therefore, no reason to disbetieve the contentions of the Bank. considering the facts of the case, I opine that the Defendants are jointly and severatly tiabte to pay the ctaim amount together with interest and costs. The Appticant-Bank in its apptication has ctaimed interest @g.70% p.a. with monthty rests. However, r feet it fair and reasonable to grant interest @9.70% p.a. simpte pendentetite and futuretitt reatization of the dues. The mortgaged property is tiabte to be sotd for recovery of amount due atong with the personal properties and assets of the Defendants.

¶26

The originat Apptication is attowed and it is ordered as under-

¶27

i) The Defendantsdo pay jointty and severatty Rs. 37,31,129.00 (Rupees Thirty seven Lakh, Thirty one Thousand, one Hundred and Twenty Nine onty) together with pendentetite and future interest @g.70%per annum simpte from the date of fir'ing of the oA, i.e.,23r0g/22, with costs titt its realization.

¶28

ii) The Appticant Bank is entitted to sett the mortgaged as wet[ 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, atienat.ing or in any way dealing with their properties/assets without first paying the ctaim of the Appticant Bank.

¶29

iii) A Recovery Certificate be issued uls 19(ZZ) of Recovery of Debts and Bankruptcy Act. The appticant bank may fite a memo of cost within 7 days for preparing Recovery Certificate. Judgment pronounc ed in the open court on this 22nd Day of Juty, 2025at Camp Court Raipur.

¶30

'-l (Ram Niwas Patet) Presidi nq 0fficer

Uco Bank v. Pusha Rajesh Jha

Case brief

What is this about?

What did the court decide?

Uco Bank v. Pusha Rajesh Jha

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

Central Bank of India versus Shri Madhusudan Singh

State Bank of India versus Kishor Shopping Mall Private Ltd.

Central Bank of India versus M/s Pitamber Filing Station, through Its Proprietor- Shri Anil Kumar Singh

Central Bank of India versus M/S Polytech India through Its Partners Sonam Agrawal , Yashvardhan Agrawal

Punjab National Bank versus M/S Shambhavi Agencies through Its Propreitor Praveen Padmaker

Bank of India versus M/S Jogi Transport through Its Prop- Kuldeep Singh