Allowed

Uco Bank v. Sh. Ajay Sharma (Deceased)

DRT28 Jan 2025OA/2039/2022

Case brief

AI extract

What is this about?

In this draft order, DT-II at Chandigarh considered an application for recovery of dues from legal heirs of a deceased borrower. The court examined evidence of loan availed and accepted the bank's claim, allowing recovery limited to inherited mortgaged property.

What did the court decide?

Recovery of Rs. 32,21,533.70/- with interest allowed; Recovery Certificate issued; Directions for distribution of sale proceeds to Recovery Officer.

Uco Bank versus Sh. Ajay Sharma (Deceased) — 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: 2039/2022 Date of Institution: 11.10.2022 Date of Decision: 28.01.2025

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UCO Bank at Scheme No.6, Gohana Road, Near J.P. Gold Hotel, Jind, Haryana-126102

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……..Applicant

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Vs.

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Sh. Ajay Sharma (deceased) S/o Sh. Suraj Mal Sharma, R/o Village Barah Kalan, District Jind, Haryana, through its LRs:-

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Sh. Rahul S/o Sh. Suraj Mal

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Sh. SUraj mal S/o Mangat Ram Both are R/o Shiv Colony, Safidon Road, Jind, now at Sharma Trading Company, Opposite Bhardwaj Petrol Pump, Safidon Road, District Jind, Haryana ……….Defendants

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Advocates

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Sh. Anup Prajapati proxy counsel for Sh. Munish Mittal, Counsel for the applicant bank. Defendants- ex parte .

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OA for the Recovery of Rs.32,21,533.70/- with interest @9% per annum with half yearly rests from 11.10.2022.

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ORDER

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UCO Bank (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.32,21,533.70/- with interest against Sh. Ajay Sharma (deceased) through his LRs (defendants).

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Bank’s case is that on 21.09.2018, it had granted KCC Limit-I of Rs.9,27,000/- and KCC Limit-II of Rs.13,44,000/- on 29.10.2018, to Sh. Ajay Sharma (deceased) for agricultural purpose. To secure the loan, Sh.

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Ajay Sharma (deceased) had mortgaged his agricultural total land measuring 52 Kanal 18 Marla (fully detailed in para No.3A of the application). The loans were chargeable to interest @9.80% per annum with half yearly rests for both facilities. Sh. Ajay Sharma (deceased) had acknowledged and admitted his liability of debt on 16.11.2019. On 19.09.2022, a sum of Rs.32,21,533.70/- was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.

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Sh. Ajay Sharma (deceased) had died and his LRs have been impleaded as defendant Nos.1 and 2. On 14.06.2023, summonses were sent to the defendants by registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 19.08.2023, they were proceeded ex parte . 4. In order to prove its case, the Bank has placed on record the affidavit of Mr. Parshant, Senior Manager along with the loans and security documents and marked them as Exhibit A-1 to A-31. 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 loans of Rs.13,44,000/- and Rs.9,27,000/- and on 19.09.2022, a sum of Rs.32,21,533.70/- was due. 6. Accordingly, the application of the bank for the recovery of Rs.32,21,533.70/- (Rupees Thirty Two Lakh Twenty One Thousand Five Hundred Thirty Three and Seventy Paisa Only) with interest @9% per annum with half yearly rests from 11.10.2022, till the date of payment is hereby allowed with costs. The liability of the LRs of Sh. Ajay Sharma (deceased), i.e. defendant Nos.1 and 2, is only to the extent property inherited by them from Sh. Ajay Sharma (deceased). Bank can recover

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its d	ues by the sale of mortgaged property(ies)	fully detailed in para
No.3	A of the application.
7.	Pending IAs, if any, stand disposed of.
8.	Recovery Certificate be issued accordingly.
9.	Parties are directed to appear before	Recovery Officer on
18.0	3.2025, who is directed to distribute the	sale proceeds of the
mort	gage property(ies) and standing crops as	per the provisions of
Sect	ion 19(20-AB) of the Act.
10.	A Copy of this order along with Recovery	Certificate be sent to
the R	ecovery Officer as well as the parties.
Pron Date	ounced in the open Court. d: 28.01.2025	(A S Narang) Presiding Officer DRT-2, Chandigarh (Additional charge)

Uco Bank v. Sh. Ajay Sharma (Deceased)

Case brief

What is this about?

What did the court decide?

Uco Bank v. Sh. Ajay Sharma (Deceased)

Case brief

What is this about?

What did the court decide?

What the court decided

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Issues for consideration

Statutes considered

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