Allowed

Punjab National Bank v. B Suresh Kumar

DRT22 Jul 2025OA/423/2023

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an original application filed by Punjab National Bank to recover a loan of approximately Rs. 23.91 lakhs along with interest. The court stated the mortgaged and personal properties of the defendants are liable for sale and awarded a recovery certificate.

What did the court decide?

Directing defendants to pay Rs. 23,91,535.80 plus 12% p.a. interest; mortgaged and personal properties made liable for sale; Recovery Certificate issued.

Punjab National Bank versus B Suresh Kumar — Banking and Recovery | DRT (2025)

GONTD. ORDER. SHEET

PAGE NO

CASE NO

DATE	DESCRIPTION OFTHEORDER	REMARK
oA423t73 22t07t25	Judgment^pronouncedintheOpen^{CourtCamp at} Raipur.CopyofJudgmentbe^{issuedtotheParttesas} perrutes.Recordbeconsignedto theRecordRoom. (Ram atet) Presidingofficer DRT: Jabalpur CampCourt:Raipur	1l Ul9r'"'uro'. Lann{&to. A B,PryR,N O7-

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DEBTS RECOVERY TRIBUNAL : JABALPUR

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(for the States of Madhya Pradesh and Chhattisgarh)

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cAttP couRT AT RATPUR (C.c.)

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(Presiding Officer - Hon'bte Shri Ram Niwas Patet)

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Originol Applicotion No.^- 423123

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Punjab National Bank, JNM Medicat Cottege, Raipur (C.G.)

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Applicant

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Versus

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Shri B. Suresh Kumar, 01 ) S/o Late B. Rajarao

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Smt. Ba.Shalu, W/o Shri B. Suresh Kumar

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(Both R/o Tupe-2, Q.No.-75l3, WRS Colony, Raipuro C.G. 492001) Defendants

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Counse[ for the Applicant : Shri Rajendra Singh Parmar,^Advocate Defendants : Ex-parte

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JUDGMENT

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(Dated : Zznd Juay, 2025)

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'l . The Appticant-Bank has fited the Present^{OriginalApptication} u/s 19 of Recovery of^{DebtsandBankruptcyAct on 10104/23against the} Defendants for recovery of^{Rs' 23,91,535'80 (RupeesTwenty Three Lakh,} Ninety One Thousand,^{Five HundredThirtyFiveandPaisaEighty onty)atong} with interest and other^{reliefs as stated'}

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Z. The brief facts of the^{case are that on the requestof} Defendant No.-1 & 2,^{the AppticantBank sanctionedHousing Loan (Term} Loan) of is. 22^{Lakh on 3i/03116 and in consideration of the same, the} Defendants in addition^{to executionof toan documents have atso created} equitable mortgage^{over the immovabteproperty, i'e', Khasra No'-49/'l} (Part), PH No.-107l37, Netaji^{KanhaiyatatBanjari, Ward No'-8' Gudhiary'} Raipur(C.G');totalareal200sq.ft.TheDefendantsavailedthecredit facitity and atso executed^{Batanceand security confirmationLetterslastty} on25/04l22butfaitedtotiquidatetheoutstandingduesdespiteissuanceof Recatl Notice^{18t01121and initiation of actionunderthe SecuritisationAct} by the Appticant^{Bank' The Applicant-Bankhas retied uponthe documentsat} Ex. A-1 to A-14^{whichwere proved by Shri SachinKumar'Chief Manager'}

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oA 423t23

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Despite seruice of notice, the Defendants neither appeared nor filed written statement. They were proceeded ex-parte vide order dated 18/04/24. There is therefore, no reason to disbetieve the contentions of the Bank. considering the facts of the case, I opine that the Defendants are jointty and severalty liable to pay the ctaim amount together with interest and costs. The Appticant-Bank in its apptication has ctaimed interest @12% p.a. with monthty rests. However, I feet it fair and reasonable to grant interest @127o p.a. simpte pendentelite and future titt reatization of the dues. The mortgaged property is tiabte to be sotd for recovery of amount due atong with the personal properties and assets of the Defendants.

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4, The Original Apptication is atlowed and it is ordered as underi) The Defendants do pay jointty and severalty Rs. 23,91,535.g0 (Rupees Twenty Three Lakh, Ninety One Thousand, Five Hundred Thirty Five and Paisa Eighty onty) together with pendentetite and future interest @12% per annum simple from the date of fiting of the OA, i.e., 10/04/23, with costs titI its realization.

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ii) The Appticant Bank is entitted to sett the mortgaged as welt as personal properties and assets of the Defendants for reatization of its dues. The Defendants are hereby restrained by means of injunction from depteting, transferring, encumbering, atienating or in any way deating with their properties/assets without first paying the ctaim of the Appt.icant Bank.

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iii) A Recovery Certificate be issued uls 19(22) of Recovery of Debts and Bankruptcy Act. The appticant bank may file a memo of cost within 7 days for preparing Recovery Certificate.

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Judgment pronounced in the open court on this Day of 22nd Juty, 2025 at Camp Court Raipur.

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.f .29 (Ram as Patet) Presidine Officer

Punjab National Bank v. B Suresh Kumar

Case brief

What is this about?

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Punjab National Bank v. B Suresh Kumar

Case brief

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