The Debt Recovery Tribunal allowed the bank's application for recovery of Rs. 72.94 lakh from a borrower who failed to clear dues despite issuing a legal notice and creating an equitable mortgage. The court granted interest and an injunction.
Defendant to pay Rs. 72,94,228 plus interest; injunctive relief against asset disposal; Recovery Certificate issued.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
GONTD. ORDER. SHEET
PAGE NO
CASE NO
| DATE | DESCRIPTION OF THE ORDER | REMARK |
|---|---|---|
| 75t07 t25 | JudgmentpronouncedintheOpenCourtCamp at Raipur.CopyofJudgment beissuedtothePartiesas perrutes.Record be consignedto theRecordRoom. as Patet) Pre ngofficer DRT: Jabatpur CampCourt:Raipur |
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DEBTS RECOVERY TRIBUNAL : JABALPUR
(for the States of Madhya pradesh and Chhattisgarh)
cAttP couRT AT RATPUR (C.c.)
(Presiding Officer - Hon'bte Shri Ram Niwas patet)
Original Applicotion No. - 701 /22
State Bank of lndia, Stressed Assets Recovery Branch, Block B-1, Pujari Chamber, Pachpedi Naka, Tikrapara, Raipur (C.c.)..... Appticant
Versus
Smt. Sheela Patet, W/o Shri Gunsagar Patet, Prop. of M/s Sheeta Warehouse, Vittage- Rajadera, Tehsil-Pithora, Distt.-Mahasamund (C.G.) 493551
..... Defendant
Counsel for the Appticant : Shri L.P. Yadav, Advocate
Defendant
: Ex-parte
JUDGMENT
(Dated :25th July, 2025)
2
oA'101/22
Ex. A-1 to A-12 which were proved by Shri Sajan Joseph Mathew, Chief Manager.
i) ne Defendantdo pay Rs. 7Z,}4,ZZL.OO (Rupees Seventy Two Lakh, Ninety Four Thousand, Two Hundred and Twenty Eight onty) together with pendentetite and future interest @10.10% p.a. simpte in term loan account and interest @7.95% p.a. simpte in working capitat term toan account from the date of fiting of the oA, i.e.,31 /05/22, with costs titt its reatization.
,i) The Appticant Bank is entitted to sett the mortgaged as wetl as the personat properties and assets of the Defendant for realization of its dues. The Defendant is hereby restrained by means of injunction from depteting, transferring, encumbering, atienating or in any way deating with her properties/assets without first paying the claim of the Appticant Bank.
,ii) 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.
Judgment pronounc ed in the open court on this Day of 25th Juty, 2025at Camp Court Raipur.
5
->
o
(Ram was Patel)
Presi dine officer
3 issues framed by the court
Whether the defendant is liable to repay the outstanding dues along with interest and costs.
Whether an injunction restraining the defendant from alienating properties is appropriate.
Whether a Recovery Certificate should be issued under Section 19(2) of the Act.
2 provisions across 1 enactments
State Bank of India
Smt. Sheela Patel
Ram Niwas Patel
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
