Allowed

Central Bank of India v. M/S Shivkirpa Filling Station

DRT8 Jul 2025OA/704/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the applicant bank's application for recovery of Rs. 1.96 crores plus interest against a proprietorship firm, its proprietor, and a guarantor who failed to repay a loan secured by mortgage and hypothecation.

What did the court decide?

Recovery of Rs. 1,96,00,251.59 with interest @10.45% per annum from 19.04.2022, with costs; Recovery Certificate issued.

Central Bank of India versus M/S Shivkirpa Filling Station — Company and Corporate | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL-II, CHANDIGARH

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BEFORE: A S NARANG, PRESIDING OFFICER

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OA No: 704/2022 Date of Institution: 19.04.2022 Date of Decision: 08.07.2025

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Central Bank of India at Gurdwara Road, Aapka Bazar, Gurugram, Haryana-122001.

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……..Applicant Vs.

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M/s Shivkirpa Filling Station, a Proprietorship firm, at Khasra No. 242/25 (4-17), Delhi Alwar Road, Village Malab, Tehsil and District Nuh, Haryana-122107, Through its Proprietor Smt. Kiran Sharma W/o Sh. Krishan Lal Sharma.

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Smt. Kiran Sharma W/o Sh. Krishan Lal Sharma, Proprietor of M/s Shivkirpa Filling Station, r/o House No. 3G/70, NIT, Faridabad, Haryana-121001 II^nd Address: r/o House No. 202, Ward No. 1, Tehsil and District Nuh, Haryana-122107

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Sh. Ashish Sharma S/o Sh. Krishan Lal Sharma, r/o House No. 202, Ward No. 1, Tehsil and District Nuh, Haryana-122107 …….Defendants

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Advocates Sh. Vivek Verma, Counsel for the applicant bank Defendants- ex parte

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OA for the Recovery of Rs.1,96,00,251.59p with interest @10.45% per annum with monthly rests from 19.04.2022.

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ORDER

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Central Bank of India (Applicant Bank) has filed this application under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993 (RDB Act) for the recovery of Rs.1,96,00,251.59p with interest against M/s Shivkrpa Filling Station and Others (defendants). 2. Defendant No. 1 is a Proprietorship firm of defendant No. 2. Bank’s case is that on 20.04.2018, it had granted a loan of Rs.150.00 Lacs to defendant Nos. 1 and 2 in the form of Cash Credit Facility for business purpose. Defendant no. 3 stood as guarantor. To secure the loan, defendant No. 3 had mortgaged his property (fully detailed in para No.5(i) of the application). The loan was chargeable to interest @9.95% per annum with monthly rests. On 14.04.2022, a sum of Rs.1,96,00,251.59p was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.

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On 09.05.2022, summonses were sent to the defendants by registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 20.10.2022, they were proceeded ex parte . 4. In order to prove its case, the Bank has placed on record the affidavit of Sh. Jagdish Parihar, Senior Manager along with the loan and security documents and marked them as Exhibit A-1 to A-28. 5. I have perused the evidence on the record. I am of the considered view that the Bank has proved its case that it had advanced the loan of Rs.150.00 Lacs and on 14.04.2022, a sum of Rs.1,96,00,251.59p was due.

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Accordingly, the application of the bank for the recovery of Rs.1,96,00,251.59p (Rupees One Crore Ninety Six Lacs Two Hundred Fifty One and Fifty Nine Paisa Only) with interest @10.45% per annum with monthly rests from 19.04.2022, till the date of payment is hereby allowed with costs. The liability of all the defendants would be joint and several. Bank can recover its dues by the sale of mortgaged property(ies) fully detailed in para No.5(i) of the application as well as from the hypothecated assets/stocks/goods/book debts etc. and personal movable and immovable property(ies) of the defendants.

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Pending IAs, if any, stand disposed of. 8. Recovery Certificate be issued accordingly. 9. Parties are directed to appear before Recovery Officer on 14.08.2025 , who is directed to distribute the sale proceeds of the mortgage property(ies) as per the provisions of Section 19(20-AB) of the Act . 10. A copy of this order along with Recovery Certificate be sent to the Recovery Officer as well as the parties.

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Pronounced in the open Court (A S Narang) Dated: 08.07.2025 Presiding Officer DRT-2, Chandigarh (Additional charge)

Central Bank of India v. M/S Shivkirpa Filling Station

Case brief

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Central Bank of India v. M/S Shivkirpa Filling Station

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