Uco Bank v. M/S v J Enterprises
Case brief
What is this about?
The Debts Recovery Tribunal allowed the applicant bank's OA for recovery of Rs.65,51,908.05p plus interest against M/s VJ Enterprises and proprietor Mr. Karan Kumar Verma, deemed to have proved their loan defaults through affidavits and documents.
What did the court decide?
Recovery of Rs.65,51,908.05p with interest at 11.35% p.a. from 18.08.2022; issuance of Recovery Certificate; sale of hypothecated stocks and other properties.
What the court decided
IN THE DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH
BEFORE: A S NARANG, PRESIDING OFFICER
OA No: 1727/2022 Date of Institution: 18.08.2022 Date of Decision: 23.07.2025
UCO Bank having its branches all over India and a branch at Industrial Area, District Jalandhar, Punjab.
……..Applicant
Vs.
- M/s VJ Enterprises, through its proprietor Mr. Karan Kumar Verma, Address: Shop No.4, Bank Colony, Gate No.3, Salempur Road, Jalandhar, Punjab.
- Mr. Karan Verma (Proprietor) M/s VJ Enterprises, S/o Sh. Pawan Kumar Verma, Address:-
- (i) Shop No.4, Bank Colony, Gate No.3, Salempur Road, Jalandhar, Punjab.
- (ii) 17 Guru Amar Dass Colony Market, Jalandhar, Punjab.
- (iii) House No. 553, Kalia Colony, Phase-III, Jalandhar, Punjab.
Issues for consideration
2 issues framed by the court
Whether the bank has proved its entitlement for recovery of the debt amount of Rs.65,51,908.05p with interest.
Whether the application for recovery under Section 19 of the RDB Act be allowed against the defaulting borrowers.
Parties & counsel
- applicant
UCO Bank
- respondent
M/s VJ Enterprises
- respondent
Mr. Karan Kumar Verma
Coram
Case details
As recorded by the court registry
All orders in this case
2 orders share this CNR
- Order 1 · P.o
- Order 2 — this page · P.o
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