Allowed

Union Bank of India v. M/S Partap Agrotech

DRT16 May 2025OA/1578/2022

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed the applicant bank's application for recovery of a loan of Rs. 1.07 Crores with interest against the defendants, who were proceeded with ex parte, directing a Recovery Certificate to be issued and sale proceeds distributed under Section 19.

What did the court decide?

Recovery of Rs. 1,07,17,820.08 with interest @10.25% per annum allowed with costs; Recovery Certificate issued.

Union Bank of India versus M/S Partap Agrotech — Contract and Commercial Disputes | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL-II, CHANDIGARH

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BEFORE: A S NARANG, PRESIDING OFFICER

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OA No: 1578/2022 Date of Institution: 21.05.2022 Date of Decision: 16.05.2025

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Union Bank of India at Karnal Main, Post Box No. 79, G.T. Road, District Karnal, Haryana

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……..Applicant Vs.

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M/s Partap Agrotech, a Proprietorship firm having its Registered Office and place of business at 696, Arvinders Building, Opp Yellow Saphire Hot Near Namste Chowk Karnal, Haryana132001, through its Proprietor Sh. Dilbagh Singh

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Sh. Dilbagh Singh S/o Sh. Sukha Singh, r/o House No. 560, Village Darar, Karnal, Haryana-132001.

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Smt. Sukhwinder Kaur W/o Sh. Baldev Singh, r/o Village Jalmana, District Karnal, Haryana-132039.

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Sh. Ranjit Singh S/o Sh. Mange Ram, r/o Village Dera Sakara Wala, Jundla, Karnal, Haryana.

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…….Defendants

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Advocates

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Sh. Pancham Sharma, Counsel for the applicant bank

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Defendants- ex parte

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OA for the Recovery of Rs.1,07,17,820.08p with interest @10.25% per annum with monthly rests from 21.05.2022.

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ORDER

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Union Bank of India (Applicant Bank) has filed this application under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993 (RDB Act) for the recovery of Rs.1,07,17,820.08p with interest against M/s Partap Agrotech and Others (defendants).

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Defendant No. 1 is a Proprietorship firm of defendant No. 2. Bank’s case is that on 13.05.2016, it had granted loans of Rs.70.00 Lacs in the form of Cash Credit Facility and on 04.03.2021, Rs.50.00 Lacs in the form of Bank Guarantee to defendant Nos. 1 and 2 for business purpose. Defendant Nos. 3 and 4 stood as guarantors. To secure the loan, the defendant No. 3 had mortgaged his property (fully detailed in para No.3A of the application). The loans were chargeable to interest @11.65% per annum with monthly rests. On 30.04.2022, a sum of Rs.1,07,17,820.08p was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.

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On 01.10.2022, summonses were sent to the defendants by registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 30.11.2022 and 26.07.2023, they were proceeded ex parte . Defendant Nos. 1 to 3 were proceeded ex parte vide order dated 30.11.2022 and Vide order dated 26.07.2023, Defendant No. 4 was proceeded ex parte .

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In order to prove its case, the Bank has placed on record the affidavit of Sh. Rakesh Kumar, Chief Manager along with the loan and security documents and marked them as Exhibit A-1 to A-28. 5. I have perused the evidence on the record. I am of the considered view that the Bank has proved its case that it had advanced the total loan

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of Rs.120.00 Lacs and on 30.04.2022, a sum of Rs.1,07,17,820.08p was due.
6. Accordingly, the application of the bank for the recovery of
Rs.1,07,17,820.08p (Rupees One Crore Seven Lacs Seventeen Thousand
Eight Hundred Twenty and Eight Paisa Only) with interest @10.25% per
annum with monthly rests from 21.05.2022, till the date of payment is
hereby allowed with costs. The liability of all the defendants would be
joint and several. Bank can recover its dues by the sale of mortgaged
property(ies) fully detailed in paraNo.3Aof the application as well as
from the hypothecated assets/stocks/goods/book debts etc. and personal
movable and immovable property(ies) of the defendants.
7. Pending IAs, if any, stand disposed of.
8. Recovery Certificate be issued accordingly.
9. Parties are directed to appear before Recovery Officer on
19.06.2025, who is directed to distribute the sale proceeds of the
mortgage property(ies) as per the provisions of Section 19(20-AB) of the
Act.
10. A copy of this order along with Recovery Certificate be sent to
the Recovery Officer as well as the parties.
Pronounced in the open Court (A S Narang) Dated: 16.05.2025 Presiding Officer DRT-2, Chandigarh (Additional charge)

Union Bank of India v. M/S Partap Agrotech

Case brief

What is this about?

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Union Bank of India v. M/S Partap Agrotech

Case brief

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What the court decided

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