Allowed

State Bank of India v. Lakdaji Food and Agro Industries

DRT22 Jul 2025OA/1412/2023

Case brief

AI extract

What is this about?

In an application for debt recovery, the Debts Recovery Tribunal, Jaipur allowed the claim of State Bank of India against the Defendants, including a partnership firm and its partners/guarantors. The Court held the Defendants jointly and severally liable and issued a recovery certificate.

What did the court decide?

Declaration of joint and several liability and issuance of recovery certificate for Rs. 4,28,35,228/- with future interest includable in the sale proceeds of mortgaged properties.

State Bank of India versus Lakdaji Food and Agro Industries — Company and Corporate | DRT (2025)

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“ORIGINALAPPLICATION” No. 1412 of 2023

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BEFORE THE DEBTS RECOVERY TRIBUNAL, JAIPUR PRESENT- SHRI VIMAL GUPTA

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PRESIDING OFFICER

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O.A. NO. 1412 OF 2023

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DATE OF DELIVERY OF ORDER 22.07.2025

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STATE BANK OF INDIA, a body corporate constitutes under the State Bank of India Act, 1955, having its Corporate Centre at Madam Cama Road, Nariman Point, Mumbai – 400021 and amongst other branch offices, a Branch at, SARB, Matrix Mall, Jawahar Nagar, Jaipur, through its Chief Manager.

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…..Applicant Bank…..

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VERSUS

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1. M/S LAKDAJI FOOD AND AGRO INDUSTRIES through its partners Shri Anil Badaya and Mr. Vedant Badaya, having its office at G-1-3, RIICO Industrial Area, Bassi, District- Jaipur.

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2. SHRI ANIL BADAYA S/o Shri Babu Lal Badaya, R/o 5758, Dream Home Society, Vishnu Garden, Tonk Rond, Jaipur- 302029.

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3. MR. VEDANT BADAYA S/o Shri Amit Badaya, R/о 55, Dream Home Society, Vialnu Garden, Tonk Rond, Jaipur302029.

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4. SMT. INDRA DADAYA W/o Late Shrl Sitaram Badaya, R/o 55, Drenm Home Society, Vishnu Garden, Tonk Road, Jaipur-302029.

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Also At: -

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B- 287, Janta Colony, Aadarsh Nagar, Jaipur- 302004

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5. SMT. GYATRI BADAYA W/o Shri Babu Lal Badaya, R/o 57-58, Dream Home Society, Vishnu Garden, Tonk Road, Jaipur-302029.

OA No. 1412 of 2023

Also At: -

160, Lakda Bhawan, Jeen Mata ka Khura, Ramganj, Jaipur302003.

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……Defendants…..

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Counsel for the Applicant Bank Sh. Alog Garg Counsel for the Defendants None

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JUDGMENT

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This Original Application was filed by the applicant bank on 07.10.2023 for recovery of outstanding amount of Rs. 4,28,35,228/- from the Defendants.

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As per the pleadings, Defendant No. 1 is a partnership firm carrying on its business of manufacturing and trading of all types of Pulses, Besan, Maida, Suji etc. That the Defendant No. 2 and 3 are partners of Defendant No. 1 and Defendant No. 2 to 5 stood as guarantors for the credit facilities sanctioned by the Applicant Bank in favour of the Defendant No. 1. That the Defendant No. 1 through Defendant No. 2 and 3 had approached the applicant bank for availing Cash Credit facility. After due consideration, cash credit facility for a sum of Rs. 320 Lac and WCTL under GECL for a sum of Rs. 49 Lac were sanctioned by the Applicant Bank in favour of Defendants in the year 2020 vide letter of arrangement dated 02.11.2020. Defendants were also granted WCTL II under GECL 1.0 Extn. facility by the applicant bank vide sanction letter dated 26.11.2021 for the sum of Rs.

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OA No. 1412 of 2023

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44 Lac. Aggregately, the credit facilities were sanctioned to the tune of Rs. 408 Lac. Defendants failed to maintain financial discipline and therefore, their loan account was classified as NPA on 31.03.2023. Applicant Bank has therefore, filed this original application for recovery of its dues against the Defendants.

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Summons were issued to the Defendants on 30.01.2024. On 12.08.2024, Shri Garvit Khandelwal undertook to file Vakalatnama on behalf of the Defendants, but neither he filed Vakalatnama nor reply to O.A.

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Heard arguments and perused the record.

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As stated supra, the Applicant Bank filed the evidence affidavit coupled with the recitals in the documents, viz Exhibit A/1 to A/42 marked on behalf of the applicant bank, clinches the claim of the applicant bank against the Defendants. Hence, I hold that the Defendants are jointly & severally liable to pay to the applicant bank the claim made in O.A. with future interest and costs.

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In the result, this O.A. No. 1412 of 2023 is allowed declaring that: -

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a) In this matter, none appeared on behalf of the defendants and in the S.A. no. 655/2023 was listed where the counsel for the applicant has pleaded no instructions and therefore, that was dismissed for non- prosecution. There is a growing tendency of the borrowers to avoid clearance of the dues to the financial institutions and when they file SA and do

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OA No. 1412 of 2023

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not appear in OA and they do not contemplate filing replies and proceedings of the O.A.

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b) The Defendants are jointly & severally liable to pay to the applicant bank a sum of Rs. 4,28,35,228/(Rupees Four Crore Twenty Eight Lac Thirty Five Thousand Two Hundred and Twenty Eight only) with future interest @ 10% (Simple) from 20.09.2023 till the date of realization.

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c) The applicant bank is entitled to recover the above amount from the sale of hypothecated assets and mortgaged properties – 1) Shop No. 409, Ramganj Bazar, Jaipur, admeasuring 35.27 sq. mtrs, standing in the name of Defendant No. 4 & 5 and 2) Factory Land and Building situated at Plot No. G-1-3, RIICO Industrial Area, Bassi, Jaipur, admeasuring 1070.00 sq. mtrs., standing in the name of Defendant No. 1 as well as from the personal movable and immovable properties/assets of Defendants. The applicant bank is entitled to proceed against the same towards recovery of its debt.

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d) The applicant bank is entitled to the costs of the O.A.

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The recovery certificate be issued forthwith and be sent to the Recovery Officer, DRT, Jaipur.

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OA No. 1412 of 2023

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Parties are directed to appear before the Recovery Officer, DRT, Jaipur on 15.10.2025 .

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Prepare Recovery Certificate accordingly.

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A copy of the Judgment and Recovery Certificate be given or sent by registered post to each of the parties free. A copy of the Recovery Certificate be sent to the Recovery Officer of this Tribunal for necessary action as per the law.

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(Vimal Gupta) Presiding Officer, Debts Recovery Tribunal, Jaipur

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Order pronounced in the open court today i.e. 22.07.2025 .

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(Vimal Gupta) Presiding Officer, Debts Recovery Tribunal, Jaipur

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OA No. 1412 of 2023

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BEFORE THE DEBTS RECOVERY TRIBUNAL, JAIPUR

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PRESENT- SHRI VIMAL GUPTA

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PRESIDING OFFICER

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O.A. NO. 1412 OF 2023

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DATE OF DELIVERY OF ORDER 22.07.2025

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RECOVERY CERTIFICATE

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(UNDER SUB Section 22 of the Recovery of Debts due to Banks and Financial Institutions Act, 1993 (Act 51 of 1993)

…..Applicant Bank…..

VERSUS

1. M/S LAKDAJI FOOD AND AGRO INDUSTRIES through its partners Shri Anil Badaya and Mr. Vedant Badaya, having its office at G-1-3, RIICO Industrial Area, Bassi, District- Jaipur.

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2. SHRI ANIL BADAYA S/o Shri Babu Lal Badaya, R/o 5758, Dream Home Society, Vishnu Garden, Tonk Rond, Jaipur- 302029.

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3. MR. VEDANT BADAYA S/o Shri Amit Badaya, R/о 55, Dream Home Society, Vialnu Garden, Tonk Rond, Jaipur302029.

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4. SMT. INDRA DADAYA W/o Late Shrl Sitaram Badaya, R/o 55, Drenm Home Society, Vishnu Garden, Tonk Road, Jaipur-302029.

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Also At: -

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B- 287, Janta Colony, Aadarsh Nagar, Jaipur- 302004

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OA No. 1412 of 2023

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5. SMT. GYATRI BADAYA W/o Shri Babu Lal Badaya, R/o 57-58, Dream Home Society, Vishnu Garden, Tonk Road, Jaipur-302029.

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Also At: -

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160, Lakda Bhawan, Jeen Mata ka Khura, Ramganj, Jaipur302003.

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……Defendants…..

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Recovery Certificate for Rs. 4,28,35,228/-

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In terms of final order dated 22.07.2025 passed by this Tribunal in the above mentioned case, it is ordered that the-

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a) In this matter, none appeared on behalf of the defendants and in the S.A. no. 655/2023 was listed where the counsel for the applicant has pleaded no instructions and therefore, that was dismissed for non- prosecution. There is a growing tendency of the borrowers to avoid clearance of the dues to the financial institutions and when they file SA and do not appear in OA and they do not contemplate filing replies and proceedings of the O.A.

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c) The applicant bank is entitled to recover the above amount from the sale of hypothecated assets and

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OA No. 1412 of 2023

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mortgaged properties – 1) Shop No. 409, Ramganj Bazar, Jaipur, admeasuring 35.27 sq. mtrs, standing in the name of Defendant No. 4 & 5 and 2) Factory Land and Building situated at Plot No. G-1-3, RIICO Industrial Area, Bassi, Jaipur, admeasuring 1070.00 sq. mtrs., standing in the name of Defendant No. 1 as well as from the personal movable and immovable properties/assets of Defendants. The applicant bank is entitled to proceed against the same towards recovery of its debt.

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d) The applicant bank is entitled to the costs of the O.A.

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Parties are directed to appear before the Recovery Officer, DRT, Jaipur on 15.10.2025 .

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The Recovery Officer shall realize the amount as per this Certificate in the manner and mode prescribed under Section 25 and 28 of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 (as amended from time to time) from the above named Certificate Debtor.

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This Certificate has been issued under my signatures and seal of the Tribunal on this 22.07.2025 .

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(Vimal Gupta) Presiding Officer, Debts Recovery Tribunal, Jaipur

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OA No. 1412 of 2023

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BEFORE THE DEBTS RECOVERY TRIBUNAL, JAIPUR

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PRESENT- SHRI VIMAL GUPTA

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PRESIDING OFFICER

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O.A. NO. 1412 OF 2023

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DATE OF DELIVERY OF ORDER 22.07.2025

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SCHEDULE TO RECOVERY CERTIFICATE

MEMO OF COST

…..Applicant Bank…..

VERSUS

1. M/S LAKDAJI FOOD AND AGRO INDUSTRIES through its partners Shri Anil Badaya and Mr. Vedant Badaya, having its office at G-1-3, RIICO Industrial Area, Bassi, District- Jaipur.

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2. SHRI ANIL BADAYA S/o Shri Babu Lal Badaya, R/o 5758, Dream Home Society, Vishnu Garden, Tonk Rond, Jaipur- 302029.

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3. MR. VEDANT BADAYA S/o Shri Amit Badaya, R/о 55, Dream Home Society, Vialnu Garden, Tonk Rond, Jaipur302029.

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4. SMT. INDRA DADAYA W/o Late Shrl Sitaram Badaya, R/o 55, Drenm Home Society, Vishnu Garden, Tonk Road, Jaipur-302029.

¶101

Also At: -

¶102

B- 287, Janta Colony, Aadarsh Nagar, Jaipur- 302004

¶103

¶104

OA No. 1412 of 2023

¶105

5. SMT. GYATRI BADAYA W/o Shri Babu Lal Badaya, R/o 57-58, Dream Home Society, Vishnu Garden, Tonk Road, Jaipur-302029.

¶106

Also At: -

¶107

160, Lakda Bhawan, Jeen Mata ka Khura, Ramganj, Jaipur302003.

¶108

……Defendants…..

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S.No.	Item of Costs	Amount (Rs.)
1	Fee on the Application	1,50,000.00
2	Process Fee (Inc. Publication)	488.90
3	Advocate Fee	1,250.00
4	Court Commissioner’s Fees	NIL
5	Commission/Receiver/Valuation	NIL
6	Miscellaneous Charges	NIL
	Total	1,51,738.90

¶110

(Vimal Gupta) Presiding Officer, Debts Recovery Tribunal, Jaipur

OA No. 1412 of 2023

22.07.2025

Counsel: Sh. Alok Garg, Counsel for Applicant Bank None for the Defendants

¶115

Judgment dictated separately and pronounced in the open court. As per order the O.A. is allowed. Recovery Certificate be prepared accordingly and the Registry is directed to verify the Recovery Certificate as per Regulation 24(1) and (2) of Debts Recovery Tribunal Jaipur Regulation 2015 and after verification place the same before the Tribunal.

¶116

(Vimal Gupta) Presiding Officer, Debts Recovery Tribunal, Jaipur

OA No. 1412 of 2023

22.07.2025

Counsel:

Sh. Alok Garg, Counsel for Applicant Bank None for the Defendants

¶122

The Tribunal vide order dated 22.07.2025 , directed the Registrar to verify the Recovery Certificate as per Regulation 24(1) and (2) of Debts Recovery Tribunal Jaipur Regulation 2015.

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The Registrar vide order dated 22.07.2025 verified the Recovery Certificate as per Regulation 24(1) and (2) of Debts Recovery Tribunal Jaipur Regulation 2015. Recovery Certificate be prepared accordingly. Copy of the Judgment and Recovery Certificate be given free to the concerned parties as well as be sent to the Recovery Officer for further proceedings. File be put up before the Registrar for compliance. After compliance file be consigned to record.

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(Vimal Gupta) Presiding Officer, Debts Recovery Tribunal, Jaipur

State Bank of India v. Lakdaji Food and Agro Industries

Case brief

What is this about?

What did the court decide?

State Bank of India v. Lakdaji Food and Agro Industries

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

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Case details

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