The Debts Recovery Tribunal allowed the Bank of India's application under Section 19 of the RDB Act for recovery of dues aggregating Rs 29,21,709.68 in the first instance.
The defendants jointly and severally to pay Rs 29,21,709.68 plus interest at 12% p.a.; issuance of Recovery Certificate u/s 19(2); injunction on alienating properties.
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DEBTS RECOVERY TRIBUNAL : JABALPUR
(for the States of Madhya Pradesh and Chhattisgarh)
cAtAP COURT AT TNDORE U.P.)
(Presiding Officer - Hon'bte Shri Ram Niwas Patet)
Original Applicotion No. - 231/23
Bank of lndia, lndira Nagar, Distt.-Burhanpur (M. P. )
Applicant
Versus
R/o Vit[age-Chapora,
Tehsit &. Distt.-Burhanpur (M.P)
Counsel for the Applicant : Shri Shreyas Dubey, Advocate
Defendants : Ex-parte
JUDGMENT
loatea:-*F.lanuary, zozs;
2
oA231t23
accounts were classified asNPA and theDefendants faited to liquidate the outstanding dues despite issuance of LegalNotice13/12l19 by the Appticant Bank. The Appticant-Bank has retied upon the documentsat Ex. A-1 to A-19 which wereproved by Shri Blacius Toppo,Chief Manager.
i) The Defendants do payjointty and severally Rs. 29,21 ,709.68 (Rupees Twenty Nine Lakh, Twenty One Thousand, Seven Hundred Nine and Paisa Sixty Eight onty) together withpendentelite and future interest @12% per annum simpte from the date of fiting of the 0A, i.e.,25/01/23, with costs t itI its realization.
ii) The Applicant Bank is entitted to setl theproperty on lien with the Bank as wetl as personatproperties and assets of the Defendantsfor reatization of its dues. The Defendants are hereby restrained by meansof injunction from depteting, transferring, encumbering, atienating or inany way deating with their properties/assets without firstpaying the claimof the Appticant Bank.
iii) A Recovery Certificate be issued u/s19(22) ofRecoveryof Debts and Bankruptcy Act. The appticant bank may fite amemo ofcost within 7 days for preparing Recovery Certificate.
Judgment pronounced in the open court on this15th Day of January ,2025at Camp Court lndore.
6'>9 2 (Ram s Patet) Presidine Officer
2 issues framed by the court
Whether the defendants are liable to repay the outstanding debt along with interest and costs.
Whether the applicant bank is entitled to set off/liens on the mortgaged property and other assets for recovery of dues.
1 provisions across 1 enactments
Bank of India, Indira Nagar
Vasant Pandharinath Patit
Ravinder Chowdhary
Ram Niwas Patet
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
