Debts Recovery Tribunal allowed the bank's application for recovery of Rs. 14.37 crores plus interest against borrower and guarantors who failed to repay term loan and overdraft dues. Order declares joint and several liability.
Recovery of dues directed; properties liable to be sold; recovery certificate issued under Section 19(7).
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DEBTS RECOVERY TRIBUNAL : JABALPUR
(for the States of Madhya Pradesh and Chhattisgarh)
(Presiding Officer - Hon'bte Shri Ram Niwas Patet)
Originol Applicotion No.' 619 1 23
Punjab NationaI Bank, SASTRA, Raipur (C.G.) 492001
Appticant
Versus
M/s Bricem Buitdcon, 01 ) Through its Partners, Reqistered Office at: Power House Transport Nagar, Korba (C.G.); Administrative Office: Opp. Ratan Palace, Katora Tatab, Raipur (C.G.) 490042
Defendants
Counsel for the Appticant :Shri Shreyas Dubey, Advocate Defendants : Ex-Parte
JU DGMENT
(Dated 57th FebruarY,2025)
2
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i) att that pieces & parcets of immovabte property (City Center Matt) situated at PHN: 9, RNM: Korba, bearing Khasra No._551 126, 551/33, 594/ 1, 594/zka, 594/2 Kha, 594/Zga, 595 &. 596/2, admeasuring 1.79 acres, Tehsit & District-Korba (C.G.); betonging to Defendant No.-1;
ii) Hoter Maruti situated in the timits of Municipar corporation at Ptot No.-127 of the Scheme Transport Nagar, Korba, under lUDp Scheme, Korba on the part of the Land Khasra No.-1gg/.1K, Vittage-Korba, Ward No._9, Transport Nagar, Tehsil & District-Korba, total land admeasuring 1500 sq.ft.; belonging to Defendant No.-2;
iii) Att that pieces & parcets of immovabte property situated at Mauja Vittage-Korba, pHN: 9/4, RNM: Korba, Ward No.-2, Saket Nagar, Khasra No.-624/Z (Old Khasra No._624), Tehsit &. District-Korba (C.c.), admeasuring 15260 sq.ft.; betonging to Defendant No.-2 & 3;
iv) lmmovabte property situated at Mauja Vitlage-Korba, pHN: 9/4, RNM: Korba, Ward No.-2, Saket Nagar, Khasra No.-62411 (Otd Khasra No._ 624), Tehsit &. District-Korba (C.G.), admeasuring 1002g sq.ft.; betonging to Defendant No.-2 & 3;
v) Att that pieces & parcets of immovabte property situated at Korva, PHN: 9, RNM & Tehsit- Korva, K.No._596/1 (Otd Khasra No.-596), totat area 0.37 acres, i.e., 1656g sq.ft.; betonging to Defendant No._3.
The Defendant No.-1 through its partners avaited the credit facitities and atso executed Batance and Security Confirmation Letters tastty on 06/09/22 but did not maintain satisfactory accounts. The accounts became NPA and the Defendants fair.ed to tiquidate the outstanding dues despite issuance of Legat Notices on zzrog/22, 15/10/22 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-j4 which were proved by Shri Abhishek Tiwari, Chief Manager.
J
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ii) The Appticant Bank is entitted to setl the mortgaged as wetl as personal properties and assets of the Defendants for reatization of its dues. The Defendants are hereby restrained by means of injunction f rom depteting, transferring, encumbering, atienating or in any way dealing with their properties/assets without first paying the ctaim of the Appl,icant Bank.
iii) A Recovery Certificate be issued u/s 19(72) of Recovery of Debts and Bankruptcy Act. The appticant bank may fite a memo of cost within 7 days for preparing Recovery Certificate.
Judgment pronounced in the open court on this 07th Day of February,2075.
4'2 (Ram Niwas Patet) Presidinq Officer
3 issues framed by the court
Whether the application for recovery of dues from borrowers and guarantors allowed.
Whether the mortgaged and personal properties liable to be sold for realization.
Whether the rate of interest and recovery certificate appropriate for outstanding dues.
2 provisions across 1 enactments
Punjab National Bank, SASTRA, Raipur (C.G.)
M/s Bricem Buitdcon
Ram Kumar Sahu
Chhaya Sahu
Milan Sahu
Madhur Sahu
Ram Niwas Patet
As recorded by the court registry
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