The Debt Recovery Tribunal allowed the applicant bank's original application against the defendant for recovery of dues. The court sanctioned interest and directed the issuance of a recovery certificate.
Defendant ordered to pay claim amount with interest, recovery certificate issued, and injunction imposed against transferring or encumbering assets.
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 JABALPUR
(for the States of Madhya Pradesh and Chhattisgarh)
(Presiding Officer - Hon'bte Shri Ram Niwas Patel)
Original Application No. - 1472/22
Union Bank of India, Vijay Nagar, Jabatpur (M.P.)
Apptlcant
Versus
TejpaL Singh Rana, S/o Shri Dheer Singh Rana 3553, Main Road, ln front of Krishi Upaj Mandi, Jabatpur (M.P.); Atso at: H.No.-30/1, Near Trimurti Aata Chakki, Deen Dayal Upadhaya Ward, Jabatpur(M.P.)
..... Defendant
Counsel for the Appticant : Shri Vivek Shukta , Advocate
Defendans : Ex'parte
JUDGMENT
lDated:n2rFebruary,2025 )
2, The brief facts of the case are that on therequestof Defendant, the Appticant Bank sanctioned Cash CreditLimitof Rs. 9.50 Lakh and Term Loan of Rs. 14.25 Lakh aggregating Rs.23.75 Lakh on 07103121 and in consideration of the same the Defendantexecuted requisiteloan documents. The Defendant availed the creditfaci[itiesbut failedto Liquidate the outstanding dues despite issuanceof LegalNotice on 22111 177 by the Appticant Bank. The Appticant-Bankhas retied upon the documentsat Ex. A-1 to A-'14 which wereproved byShri PremnidhiMishra,Branch Manager.
2
oA t472t22
to pay the ctaim amount together with interest and costs. The AppticantBank in its apptication has claimed interest @9.30% p.a. with monthly rests in cash credit account and interest @10.70% p.a. with monthty rests in term loan account. However, I feel it fair and reasonabte to grant interest @9.30% p.a. simpte in cash credit account and.interest @10.70% p.a. in term loan account pendentetite and future tilt reatization of the dues. The personal properties and assets of the Defendant are tiabte to be sotd for recovery of amount due.
i) The Defendant do pay Rs. 24,73,073.00 (Rupees Twenty Four Lakh, Seventy Three Thousand and Seventy Three onty) together with pendentelite and future interest @9.30% p.a. simpte in cash credit account and interest @10.70% p.a. in term loan account from the date of fiting of the OA, i.e., 09/12/22, with costs tit[ its reatization.
ii) The Appticant Bank is entitled to selt the personat properties and assets of the Defendant for reatization of its dues. The Defendant is hereby restrained by means of injunction from depteting, transferring, encumbering, atienating or in any way deating with his properties/assets without first paying lhe ctaim of the Appticant Bank.
iii) A Recovery Certificate be issued u/s 19(22) of Recovery of Debts and Bankruptcy Act. The appticant bank may fite a memo of cost within 7 days for preparing Recovery Certificate.
Judgment pronounced in the open court on this 12th Day of February,2025.
(R Pa Presidine Officer
2> 7
3 issues framed by the court
Whether the debt recovery tribunal was justified in allowing the original application against the defendant who failed to appear or file a written statement.
Whether interest rates claimed by the bank should be awarded pendente-lite and for future realization of dues.
Whether a recovery certificate can be issued against the defendant.
2 provisions across 1 enactments
Union Bank of India, Vijay Nagar, Jabatpur (M.P.)
Ram Niwas Patel
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
