Allowed

Union Bank of India v. Sh.Anil Kumar

DRT27 Mar 2025OA/339/2023

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the applicant bank's application for recovery of Rs.25.71 lakhs plus interest accrued from the filing date against the defendants, directing issuance of a recovery certificate and inter alia distribution of proceeds from mortgaged property sale.

What did the court decide?

Recovery of Rs.25,71,236.04 plus interest at 7.65% p.a. from 12.01.2023; issuance of Recovery Certificate; sale of mortgaged property.

Union Bank of India versus Sh.Anil Kumar — Banking and Recovery | 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: 339/2023 Date of Institution: 12.01.2023 Date of Decision: 27.03.2025

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Date of Institution: 12.01.2023

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Union Bank of India at Shop No. 64-65, TDI Mall G.T. Road, Kundli, District Sonepat, Haryana-131001.

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……..Applicant

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Vs.

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Sh. Anil Kumar S/o Sh. Balwan, r/o House No. 785, Barwasni, Sonepat, Haryana-131001.

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Sh. Raj Kumar S/o Sh. Chander Bhan, r/o House No. 228 B, Gali No.1, Vikash Nagar, Near Shiv Mandir, Sonepat, Haryana 131001.

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…….Defendants

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Advocates

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Ms Bhavana Garg along with Sh. Akaant Kumar Mittal, Counsel for the applicant bank

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Defendants- ex parte

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OA for the Recovery of Rs.25,71,236.04p with interest @7.65% per annum with monthly rests from 12.01.2023.

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ORDER

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Union Bank of India (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.25,71,236.04p with interest against Sh. Anil Kumar and Another (defendants).

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Bank’s case is that on 30.07.2016, it had granted a loan of Rs.20.00 Lacs to defendant No. 1 in the form of Term Loan Facility for housing purpose. Defendant No. 2 stood as guarantor for repayment of the loan. To secure the loan, defendant No. 1 had mortgaged his property (fully detailed in para No.3A of the application). The loan was chargeable to interest @.10% spread over MCLR per annum with monthly rests. Defendants/s had acknowledged and admitted their/his liability for debt on 26.11.2020. On 31.12.2022, a sum of Rs.25,71,236.04p was due from the defendants. Despite repeated

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requests, defendants did not make the repayment. Hence, this application.

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On 02.03.2023, summonses were sent to the defendants by registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 06.05.2023, they were proceeded ex parte .

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In order to prove its case, the Bank has placed on record the affidavit of Sh. Yogesh Kumar, Branch Manager along with the loan and security documents and marked them as Exhibit A-1 to A-15.

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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 loan of Rs.20.00 Lacs and on 31.12.2022, a sum of Rs.25,71,236.04p was due. 6. Accordingly, the application of the bank for the recovery of Rs.25,71,236.04p (Rupees Twenty Five Lakh Seventy One Thousand Two Hundred Thirty Six and Four Paisa Only) with interest @7.65% per annum with monthly rests from 12.01.2023, 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(ies) fully detailed in para No.3A of the application as well as from the personal movable and immovable property(ies) of the defendants.

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Pending IAs, if any, stand disposed of. 8. Recovery Certificate be issued accordingly. 9. Parties are directed to appear before Recovery Officer on 30.04.2025, who is directed to distribute the sale proceeds of the mortgage property(ies) as per the provisions of Section 19(20-AB) of the Act .

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A copy of this order along with Recovery Certificate be sent to the Recovery Officer as well as the parties.

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Pronounced in the open Court (A S Narang) Dated: 27.03.2025 Presiding Officer DRT-2, Chandigarh (Additional charge)

Union Bank of India v. Sh.Anil Kumar

Case brief

What is this about?

What did the court decide?

Union Bank of India v. Sh.Anil Kumar

Case brief

What is this about?

What did the court decide?

What the court decided

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