Allowed

State Bank of India v. Dasharath Singh

DRT3 Feb 2025OA/604/2023

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the application filed by the State Bank of India for recovery of agricultural and KCC loan dues of approximately Rs. 27.84 lakh from the defendant, directing payment, injunction on assets, and recovery certificate.

What did the court decide?

The respondent was ordered to pay Rs. 27,84,694.77 plus interest, injunction was passed on his assets, and a Recovery Certificate under Section 19(2) was directed

State Bank of India versus Dasharath Singh — Banking and Recovery | DRT (2025)

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DEBTS RECOVERY TRIBUNAL : JABALPUR

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(for the States of Madhya Pradesh and Chhattisgarh)

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

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Original Applicotion No.^- 604123

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State Bank of lndia, Stressed Assets Recovery Branch, State Bank Bhawan, 5, Y.N. Road, lndore (M.P.)

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Appticant

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Versus

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Shri Dasharath Singh, 5/o Shri Shambu Singh, Viltage- Kharsodkatan, Tehsit-Badnagar, District-Ujjain^(M.P.) 456313

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Defendant

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CounseI for the App(icant : Shri Jagbandan Patet,^Advocate

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Defendant : Ex-parte

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JUDGMENT

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lDated^{: 0IdFebruary,2025)}

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The Appticant-Bank has filed the^{present OriginalApplication} u/s 19 of Recovery of Debts and Bankruptcy^{Act on 06105/23against the} Defendant for recovery of Rs. 27,84,694.77^{(RupeesTwentySevenLakh,} Eighty Four Thousand, Six Hundred^{Ninety Four and Paisa SeventySeven} onty) aLong with interest and other reliefs^{as stated.}

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The brief facts of the case are that^{on the request of} Defendant, the Appticant Bank sanctioned^{AgricultureTerm Loan (ATL) of} Rs. 10 Lakh and Kissan Credit^{Card(KCC)Limitof Rs. 15.31 Lakh aggregating} Rs. 25.31 Lakh on 01 111/18 and^{in considerationof the same the Defendant} in addition to execution of^{loan documentshasatso created chargeunder} the provisions of M.P.^{Krishi Udhar PravartanTatha PrakriyanUpbandh} (Bank) Adhiniyam 1972 over the immovabte^{property,i.e., AgricuttureLand} bearing Survey No.-280^{area11.86 acres(4.80 Hect'); 433 area 1'36acres} (0.55 Hect.); 439 area 2.57 acres^{(1.04 Hect.);440 area0'25acres (0 10} Hect.); 473 area 0.54^{acres(0.22 Hecl.;47413 area 0'07 acres (0'01Hect');} 47513area0.07acres(0.03Hect.);totalarea16.77acre(6.77hectare), situated in Vil,tage-^{Kharsodkalan,Patwari circte No.-11, Tehsit- Badnagar,} District-Ujjain^{(M.P.),Rin Pustika No.-314/0075906.The Defendant availed} the credit facitities^{and also executed RevivalLetter on 22/09121but failed}

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oA 604123

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to Iiquidate the outstanding dues despite issuance of^{LegatNotice on} 09103/23 by the Applicant Bank. The Appticant-Bank^{has retiedupon the} documents at Ex. A-1 to A-8 which were^proved by^{Shri Tamrat La[ Kori,} Chief Manager.

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Despite service of notice, the Defendant neither appeared nor fited written statement. He was proceeded ex'parte vide order dated 23/02124. There is therefore, no reason to disbetieve the contentions of the Bank. Considering the facts of the case, I opine that the Defendant is liable to pay the claim amount together with interest and costs. The ApplicantBank in its apptication has claimed contractual rate of interest @11,75%^p.a. in ATL and 11 ,75% p.a in KCC. However, I feet it fair and reasonable to^grant interest @12% p.a. simpte in ATL account and interest @11.75% p.a. simple in KCC account pendentetite and future till reatization of the dues. The mortgaged property is liable to be sotd for recovery of amount due atong with the personaI properties and assets of the Defendant.

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The Oriqinal Application is atlowed and it is ordered as under-

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i) The Defendant do pay Rs. 27,84,694.77 (Rupees Twenty Seven Lakh, Eighty Four Thousand, Six Hundred Ninety Four and Paisa Seventy Seven on[y) together with pendentetite and future interest @12% p.a. simple in ATL account and interest @11.75yo p.a. simpte in KCC account from the date of fi[ing of the OA, i.e., 06/05/73, with costs titI its reatization.

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ii) The Appticant Bank is entitted to setl the mortgaged as wetl as personal properties and assets of the Defendant for reatization of its dues. The Defendant is hereby restrained by means of injunction from depleting, transferring, encumbering, atienating or in any way deal.ing with his properties / assets without first paying the ctaim of the Appticant Bank.

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iii) A Recovery Certificate be issued u/s 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 03rd Day of February, ZOZ5.

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.2 2 (Ram Niwas Patet) Presidine Officer

State Bank of India v. Dasharath Singh

Case brief

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State Bank of India v. Dasharath Singh

Case brief

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