Allowed

Central Bank of India v. Vikas Kumar

DRT25 Jul 2025OA/488/2024

Case brief

AI extract

What is this about?

The applicant bank filed an application under Section 19 of the Recovery of Debts and Bankruptcy Act for recovery of a housing loan default. The recovery tribunal proceeded ex-parte, upheld the claim for principal and interest, and ordered issuance of a recovery certificate.

What did the court decide?

Defendants to pay Rs. 1,01,07,269.21 with interest; issuance of recovery certificate under Section 19(27).

Central Bank of India versus Vikas Kumar — Banking and Recovery | DRT (2025)

GONTD. ORDER^. SHEET

PAGE NO

CASE NO

DATE	DESCRIPTION OFTHEOROER	REMARK
oA488124 75107175	Judgment^{pronouncedintheOpenCourtCamp at} Raifur.Copyof^{Judgment beissuedtothePartiesas} perrutes.Recordbeconsigned^{to theRecordRoom'} ( m asPate[) Presidingofficer DRT:JabalPur CampCourt:^RaiPur	,6 f <br>Aot r'l\d u,o $l oll N^f{</sup> rc^-rC' X6

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DEBTS RECOVERY TRIBUNAL JABALPU R

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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. - 488124

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Central Bank of lndia, Sadar Bazar, Raipur (C.G.)

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Appticant

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Versus

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Vikas Kumar, 01 ) Si o Shri Punarad Lal

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Smt. Urvashi, W/o Shri Vikas Kumar

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(House No.-31, SAI Residency, Opp. Jainam Vihar, Latpur, Raipur, C.G. 493111; Atso at: H.No.-29, Ward No.-2, Vittage & Post-Pauwara, Utai, Durg, C.G. 491107; Atso at: Ftat No.-C1 1106, GT Life Spaces, Sector-30, Nava Raipur, C.G. 492001) Defendants

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Counsel for the Appticant : Shri^{Arun K. Pandey, Advocate} : Ex-Parte Defendaqts a

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JUDGMENT (Dated : 25.n JulY, 2025)

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'l .1 The Appticant-Bank has^{fited the present OriginalApplication} u/s 19 of Recovery of^{Debts and BankruptcyAct on01 /04124 against the} Defendants for recovery^{of Rs. 1,01} ,02,269.21^{(Rupees OneCrore,One Lakh,} Two Thousand, Two^{HundredSixty Nine and Paisa Twenty Oneonty) along} with interest and other retiefs^{as stated.}

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The brief facts of the^{case are that on the request of} Defendant No.-1 & 2,^{the AppticantBank sanctioned Housing Loan of Rs.} gg.43 Lakh on 21 112/17 which was restructured on 28/05/21^andin consideration of the^{same the Defendants in addition to execution of loan} documents have atso^{created equitabte mortgage over the immovabte} property, i.e,, house^{propertybearing Khata No'-475, Patwari HatkaNo'-} 110163, Khasra^{No.-72112,72212,770, 1317/1Ka,1317 l9(Part)'} admeasuring 3825^{sq.ft.,situatedat ShankarNagar (BhavanNagar),Riapur}

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oA 488/24

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(C.G.) 492001 ; belonging to Defendant No.-1. The Defendants avaited the credit facitities but failed to liquidate the outstanding dues despite issuance of Legat Notice on 17 101 /24 and initiation of action under the Securitisation Act by the Appticant Bank. The Appticant-Bank has retied upon the documents at Ex. A-1 to A-15 which were proved by Shri S. Dharma Rao, Assistant GeneraI Manager.

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Despite service of notice, the Defendants neither appeared nor fited written statement. They were proceeded ex-parte vide order dated 76106125, There is therefore, no reason to disbelieve the contentions of the Bank. Considering the facts of the case, I opine that the Defendants are jointty and severatty tiabte to pay the claim amount together with interest and costs. The Appticant-Bank in its application has ctaimed interest @8.70% p.a. with monthty rests. However, I feet it fair and reasonable to grant interest @8.70% p.a. simple pendentetite and future ti[[ reatization of the dues. The mortgaged property is tiabte to be sold for recovery of amount due along with the personal properties and assets of the Defendants.

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The Original Apptication is atlowed and it is ordered as under-

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i) The Defendants do pay jointty and severalty Rs. 1,01 ,07,269.21 (Rupees One Crore, One Lakh, Two Thousand, Two Hundred Sixty Nine and Paisa Twenty One onty) together with pendente(ite and future interest @8.70yo per annum simpte from the date of fiting of the OA, i.e.,01 104124, with costs titl its realization. t

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ii) The Applicant Bank is entitted to setl the mortgaged as we[[ as personal properties and assets of the Defendants for realization of its dues. The Defendants are hereby restrained by means of injunctiorl from depteting, transferring, encumbering, atienating or in any way deal..ing with their properties/ assets without first paying the claim of the Appticant Bank.

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iii) A Recovery Certificate be issued uls 19(27) of Recovery of Debts and Bankruptcy Act. The appticant bank may fite 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 25th Juty, 2025 at Camp Court Raipur.

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01 E Niwas Patet) Presidine Officer

Central Bank of India v. Vikas Kumar

Case brief

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Central Bank of India v. Vikas Kumar

Case brief

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