Debts Recovery Tribunal allowed Bank of Baroda's OA for recovery of principal and interest from borrowers and guarantor. Court confirmed liability and directed issuance of recovery certificate and sale of mortgaged property under Section 19.
Recovery of Rs.48,46,615.95 with interest granted; recovery certificate issued; disposal of mortgaged property directed.
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IN THE DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH
BEFORE: A S NARANG, PRESIDING OFFICER
OA No: 1972 of 2022 Date of Institution: 20.09.2022 Date of Decision: 15.04.2025
Bank of Baroda, having its branches all over India and a branch at Kotkapura, Moga Road, Near New Bus Stand, Kotkapura District Faridkot, Punjab.
……..Applicant
Vs.
……….Defendants
Advocates
Sh.Rakesh Gupta proxy for Ms. Kanchan Sehgal, Counsel for the applicant bank. Defendants - ex parte .
OA for the Recovery of Rs.48,46,615.95p with interest @9.65% per annum with half-yearly rests from 20.09.2022.
ORDER
2
defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.
3
2 issues framed by the court
Whether the application for recovery of debt owed by borrowers and guarantor is maintainable under Section 19 of the RDB Act.
Whether the plaintiff has discharged the burden of proving the existence of valid debt and security.
2 provisions across 1 enactments
Bank of Baroda
Mr. Raghbeer Singh
Mr. Beant Singh
A S Narang
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
