Allowed

Uco Bank v. M/S Aloft Trucking Pvt. Ltd.

DRT22 Jul 2025OA/1641/2023

Case brief

AI extract

What is this about?

The DRT allowed the bank's application for recovery of Rs.1,89,11,233/- with interest against the company, its directors, and guarantors following an ex parte proceeding due to non-appearance of defendants, who were summoned but did not appear. The court directed issuance of a Recovery Certificate and appearance before the Recovery Officer. Quality check: ok

What did the court decide?

Recovery of Rs.1,89,11,233/- with interest; joint and several liability enforced; Recovery Certificate issued pending sale of mortgaged/hypothecated property.

Uco Bank versus M/S Aloft Trucking Pvt. Ltd. — Company and Corporate | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH

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BEFORE: A S NARANG, PRESIDING OFFICER

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OA No: 1641/2023 Date of Institution: 13.09.2023 Date of Decision: 22.07.2025

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UCO Bank having its branches all over India and a branch at Sai Road, Baddi, District Solan, Himachal Pradesh.

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……..Applicant

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Vs.

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M/s Aloft Trucking Pvt. Ltd., having its registered office at 1^st Floor, A-7F, Big B Complex, Near Rotary Chowk Road, Baddi, Solan, Himachal Pradesh, through its Directors/Principal Officer.

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Sh. Anoop Gupta s/o Sh. Hem Raj Gupta, r/o House No.D2S Unicity Mystic Homes, Near Hotel Mittaso, Zirakpur, Punjab.

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Sh. Ajesh Tuli s/o Sh. Prem Chand Tuli, r/o Tower-A, House No.301, Third Floor, Green Valley Towers, Opposite Delhi World Public School, Dhakoli, Zirakpur, Punjab.

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2^nd Address: Sh. Ajesh Tuli s/o Sh. Prem Chand Tuli, House No.1498, Sector 9, Karnal, Haryana.

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Smt. Sarvjit Kaur w/o Sh. Anoop Gupta, r/o House No.D2S, Unicity Mystic Homes, Near Hotel Mittaso, Zirakpur, Punjab.

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……….Defendants

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Advocates

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Sh. Sumit Batra, Counsel for the applicant bank. Defendants - ex parte vide order dated 08.07.2025 .

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OA for the Recovery of Rs.1,89,11,233/- with interest from 13.09.2023.

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ORDER

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UCO Bank has filed this application under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993 (RDB Act) for the recovery of Rs.1,89,11,233/- with interest against M/s Aloft Trucking Pvt. Ltd. and others (defendants).

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Bank’s case is that on 11.09.2020, it had granted a loan of Rs.95.00 Lacs to defendant No.1 through its directors i.e. defendant Nos. 2 and 3 in

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the form of C.C Limit for Business purpose. The C.C. Limit on 09.08.2021, was enhanced from Rs.95.00Lacs to Rs.140.00Lacs. Again on the request of defendant No.1 through its directors, the applicant bank on 15.02.2022, sanctioned the WCTL-GECL limit of Rs.28.07 Lacs. To secure the loans, Defendant Nos. 2 and 4 mortgaged their property and hypothecated goods and assets (fully detailed in para No.3A of the application). Defendant Nos. 2 to 4 stood as guarantors for both the loans. The loans were chargeable to interest @12.95% in C.C. Limit and @9.25% in Term Loan per annum with monthly rests. On 20.06.2023, a total sum of Rs.1,89,11,233/- was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.

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On 09.10.2023, summonses were sent to the defendants by registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 08.07.2025, they were proceeded ex parte . 4. In order to prove its case, the Bank has placed on record the affidavit of Sh. Arjun Singh Bajwa, Chief Manager along with the loan and security documents and marked them as Exhibit A-1 to A-37. 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 total loan of Rs.1,68,07,000/- and on 20.06.2023, a sum of Rs.1,89,11,233/- was due. 6. Accordingly, the application of the bank for the recovery of Rs.1,89,11,233/- (Rupees One Crore Eighty Nine Lacs Eleven Thousand Two Hundred Thirty Three Only) i.e. Rs.1,58,84,685/- with interest @12.95% and Rs.30,26,548/- with interest @9.25% per annum with monthly rests from 13.09.2023, 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 fully detailed

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in para No.3A of the application as well as from the 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 28.08.2025, who is directed to distribute the sale proceeds of the mortgaged property and hypothecated goods and assets 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: 22.07.2025 Presiding Officer DRT-1, Chandigarh

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MANOJ KALRA

Uco Bank v. M/S Aloft Trucking Pvt. Ltd.

Case brief

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Uco Bank v. M/S Aloft Trucking Pvt. Ltd.

Case brief

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