Allowed

State Bank of India v. Medoci Path Lab

DRT1 May 2025OA/1438/2024

Case brief

AI extract

What is this about?

The Debt Recovery Tribunal allowed an original application filed by the State Bank of India for recovery of a loan of Rs. 1,94,07,298/- from the proprietorship firm and its proprietor. The court held the respondents jointly and severally liable, authorizing recovery through the sale of mortgaged property and issuance of a recovery certificate.

What did the court decide?

Directed payment of Rs. 1,94,07,298/- with 10% future interest; authorized recovery from mortgaged flat and other assets; issued Recovery Certificate.

State Bank of India versus Medoci Path Lab — Banking and Recovery | DRT (2025)

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“ORIGINALAPPLICATION” No. 1438 of 2024

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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. 1438 OF 2024

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DATE OF DELIVERY OF ORDER 01.05.2025

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STATE BANK OF INDIA , a body corporate constitute under the State Bank of India Act, 1965, 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. Medoci Path Lab , a Proprietorship firm, through its proprietor, Mrs. Surbhi Mathur, having registered office at Plot No. F-42, Nandpuri Colony, Near Gayatri Public School, 22 Godam, Jaipur-302019.

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Also At:-

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MD Tower, Madhyam Marg, Vijay Path Chauraha, Mansarovar, Jaipur – 302019.

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2. Mrs. Surbhi Mathur W/o Mr. Aadesh Srivastava, R/o Flat No. 302, Arihant Infinity, Choradia City, Near Kamla Nehru Nagar, Ajmer Road, Jaipur – 302021.

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……Defendants…..

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Counsel for the Applicant Shri Alog Garg along with Ms Saloni Agarwal

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Defendants Ex-parte

OA No. 1438 of 2024

JUDGMENT

This Original Application was filed by the applicant bank on 19.09.2024 for recovery of outstanding amount of Rs. 1,94,07,298/- from the Defendants.

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As per the pleadings, Defendant No. 1 represented as principal borrower and Defendant no. 2 in the capacity of Proprietor, Mortgagor and Guarantor had approached the applicant bank for availing Cash Credit facility and term loan. After due consideration, cash credit facility and term loan was sanctioned by the Applicant Bank in favour of Defendants in the year 2022 vide arrangement letter dated 16.02.2022. Defendants failed to maintain financial discipline and therefore, their loan account was classified as NPA on 29.01.2024. 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 and Counsel for the Applicant Bank filed online proof of dasti/affixation along with affidavit in support of service dated 19.03.2025. None appear for defendants. All were proceeded ex-parte on 01.04.2025.

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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/14 marked on behalf of the applicant bank, clinches the claim of the applicant bank against

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OA No. 1438 of 2024

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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. 1438 of 2024 is allowed declaring that:-

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a) The Defendants are jointly & severally liable to pay to the applicant bank a sum of Rs. 1,94,07,298/- (Rupees One Crore Ninety-four Lac Seven Thousand Two Hundred and Ninety-eight only) with future interest @ 10% simple interest from 21.08.2024 till the date of realization.

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b) The applicant bank is entitled to recover the above amount from the sale of mortgaged property – Residential Flat No. 302, situated on 3^rd Floor, Arihant Infinity, Plot No. R-10-56, R- 10-56, R-10-57, Indraprasth Colony, Village Keshavpura, Ajmer Road, Jaipur, Rajasthan – 302021, admeasuring 1098.75 sq. feets sanding in the name of defendant no. 2. Bounded by : East – Open Space, West – Corridor, South – Flat No. 303, North – Flat No. 301 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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c) The applicant bank is entitled to the costs of the O.A.

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OA No. 1438 of 2024

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

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Parties are directed to appear before the Recovery Officer-II, DRT, Jaipur on 07.07.2025 .

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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-II 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. 01.05.2025 .

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

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OA No. 1438 of 2024

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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. 1438 OF 2024

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DATE OF DELIVERY OF ORDER 01.05.2025

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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

Also At:-

MD Tower, Madhyam Marg, Vijay Path Chauraha, Mansarovar, Jaipur – 302019.

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2. Mrs. Surbhi Mathur W/o Mr. Aadesh Srivastava R/o Flat No. 302, Arihant Infinity, Choradia City, Near Kamla Nehru Nagar, Ajmer Road, Jaipur – 302021.

……Defendants…..

OA No. 1438 of 2024

Recovery Certificate for Rs. 1,94,07,298/-

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In terms of final order dated 01.05.2025 passed by this Tribunal in the above mentioned case, it is ordered that the-

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a) The Defendants are jointly & severally liable to pay to the applicant bank a sum of Rs. 1,94,07,298/ (Rupees One Crore Ninety-four Lac Seven Thousand Two Hundred and Ninety-eight only) with future interest @ 10% simple interest from 21.08.2025 till the date of realization.

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c) 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-II, DRT, Jaipur on 07.07.2025.

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OA No. 1438 of 2024

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The Recovery Officer-II 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 01.05.2025 .

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

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OA No. 1438 of 2024

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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. 1438 OF 2024

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DATE OF DELIVERY OF ORDER 01.05.2025

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SCHEDULE TO RECOVERY CERTIFICATE

MEMO OF COST

…..Applicant Bank…..

VERSUS

Also At:-

MD Tower, Madhyam Marg, Vijay Path Chauraha, Mansarovar, Jaipur – 302019.

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2. Mrs. Surbhi Mathur W/o Mr. Aadesh Srivastava R/o Flat No. 302, Arihant Infinity, Choradia City, Near Kamla Nehru Nagar, Ajmer Road, Jaipur – 302021.

……Defendants…..

OA No. 1438 of 2024

S.No.	Item of Costs	Amount (Rs.)
1	Fee on the Application	1,50,000.00
2	Process Fee (Inc. Publication)	168.00
3	Advocate Fee	1,250.00
4	Commission/Receiver/Valuation	NIL
5.	Miscellaneous Charges	NIL
	Total	1,51,418.00

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(Vimal Gupta)

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Presiding Officer, Debts Recovery Tribunal, Jaipur

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OA No. 1438 of 2024

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Date : - 01.05.2025

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Counsel:

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Sh. Alog Garg along with Ms Saloni Agarwal, Counsel for Applicant Bank Defendants are ex-parte

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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.

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

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OA No. 1438 of 2024

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Date : - 01.05.2025

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Counsel:

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Sh. Alog Garg Along with Ms Saloni Agarwal, Counsel for Applicant Bank Defendants are ex-parte

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The Tribunal vide order dated 01.05.2025 , 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 01.05.2025 verified the Recovery Certificate as per Regulation 24(1) and (2) of Debts Recovery Tribunal Jaipur Regulation 2015. Recovery Certificate is 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-II 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. Medoci Path Lab

Case brief

What is this about?

What did the court decide?

State Bank of India v. Medoci Path Lab

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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