State Bank of India v. M/s. Ree Enterprises and Another
Case brief
What is this about?
Debts Recovery Tribunal allowed State Bank of India's application under Section 19 RDBFI Act for recovery of Rs. 26.56 lakh from REE Enterprises and proprietor, holding defendants liable jointly and severally after pendency of proceedings.
What did the court decide?
Recovery certificate issued; Defendants liable to pay Rs. 26,56,927 jointly and severally with interest at 8% p.a. from date of filing till realization.
What the court decided
DEBTS RECOVERY TRIBUNAL-III, CHANDIGARH
ORIGINAL APPLICATION NO.1417/2024
PRESIDED OVER BYMRIDULESH KUMAR SINGH
DATE OF INSTITUTION: 06.12.2024
DATE OF DECISION: 09.07.2025.
State Bank of India, a body corporate constituted under the State Bank of India, Act 1955 having its Corporate Office at Madame Cama Road, Nariman Point, Mumbai and having branches all over India and one of its specialized branch as Stressed Assets Resolution Branch at Bahu Plaza, Jammu through duly authorized Officer Sh. Arshad Bashir Wani, Chief Manager presently posted at Camp Office Branch, Srinagar.
……..Applicant
- Versus
- M/s REE Enterprises situated at Ashina Trespone, Ladakh through its proprietor Sh. Kazim Begh S/o Sh. Ghulam Begh.
- Sh. Kazim Begh S/o Sh. Ghulam Begh R/o Chikgroung Tambis, Kargil, District Ladakh.
| ….……Defendants |
|---|
Issues for consideration
2 issues framed by the court
Whether the application for recovery of dues from the defendants under Section 19 of RDBFI Act, 1993 should be allowed.
Whether the rate of interest and relief claimed need to be modified by the Tribunal.
Parties & counsel
- applicant
State Bank of India
- respondent
M/s REE Enterprises
- respondent
Sh. Kazim Begh
Coram
Case details
As recorded by the court registry
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