Allowed

Idbi Bank v. M/S Anurag Engineering Work through Its Proprietor- Ms Amrita Pandey and Mr. Brij Bushan Pandey

DRT23 Jul 2025OA/787/2022

Case brief

AI extract

What is this about?

The Tribunal allowed an Original Application filed by IDBI Bank Ltd. for recovery of debts totaling Rs. 56,18,777.00 along with interest and costs from the respondents pursuant to the Recovery of Debts and Bankruptcy Act, after proceeding ex-parte against the absent defendants. The mortgaged and personal properties were directed to be made liable for recovery.

What did the court decide?

Direct payment of Rs. 56,18,777.00 with 10% p.a. interest and costs; entity to sell mortgaged and personal properties for recovery; issuance of Recovery Certificate.

Idbi Bank versus M/S Anurag Engineering Work through Its… — Banking and Recovery | DRT (2025)

CONTD. ORDER^. SHEET

PAGE NO

CASE NO

DATE DESCRIPTION OF THE ORDER REMARK
oA787 /22
?-3t07175 Judgment pronounced in the Open Court Camp at
Ra'ipur. Copy of Judgment be issued to the Parties as
per rules. Record be consigned to the Record Room.
0-1 }ea)
'l *!
(Ram s Patet)
4f^
Presiding officer "L
DRT: JabalPur fr a ""4"'
Camp Court : RaiPur

¶5

DEBTS RECOVERY TRIBUNAL : JABALPUR

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(for the States of Madhya Pradesh and Chhattisgarh)

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cAttP couRT AT RATPUR^(C.G.)

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

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Originol Applicotion No.^- 787122

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lDBl Bank Ltd., Nehru Nagar, Bhitai New Era, 19, Priyadarshni Parisar, Nehru Nagar Square, Bhitai^(C.G.)490020

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Appticant

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Versus

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01 ) M/s Anurag Engineering Work, Through its PartnersMs Amrita Pandey & Mr. Brij Bhushan^PandeY, A-28, Surya residencY,^Kohka, Bhitai, Distt.^{-Durg 492023;} Unit at: Ptot No.-205,^{EngineeringPark,} Heavy lndustrial Area,^Hathkhoj, Bhitai, District-Durg^(C.G.)490026

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Ms Amrita PandeY, W/o Mr. Brij Bhushan^PandeY 03) Mr. Brij Bhushan^PandeY, S/o Mr. B.N. PandeY (2 & 3 at A-28, SurYa residencY,^Kohka, Bhitai, Distt.^-Durg492073)

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..... Defendants

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Counset for the^{Appticant : Shri Amit Garg, Advocate} Defendants : Ex-Parte

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JU DGMENT

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(Dated . 23'd JulY, 2025)

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The Appticant-Bank^{has fited the present OriginalApptication} uts 19 of Recovery^{of DebtsandBankruptcyAct on 23106122against the} Defendants for recovery^{of Rs. 56,18,777.00 (RupeesFifty six Lakh, Eighteen} Thousand, seven^{Hundred and Seventy Seven on[y) atong with interestand} other retiefs^as stated.

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The brief facts of^{the case are that on the requestof} Defendant No.'1 through^{its Partners Defendant No'-2 & 3, the Applicant} Bank sanctioned^{CashCredit Limit of Rs. 60 Lakh and TermLoan of Rs' 20} Lakh on 09/09/16^{and in considerationof the same the Defendants in}

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oA787t22

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addition to execution of loan and guarantee documents have also created equitabte mortgage over the immovable property, i.e., a[[ the piece and parcel of immovable Leasehotd lndustrial property bearing Ptot No.-205, comprising area 0.10 hect., situated at Engineering Park, Heavy lndustrial Area, Hathkhoj, Bhitai (C.G.). The Defendants availed the credit facilities but were poor in repayment. There accounts were ctassified as NPA and the Defendants failed to liquidate the outstanding dues despite issuance of Recatl Notice on 01 110/19 and initiation of action under the Securitisation Act by the Appticant Bank. The Appl.icant.Bank has retied upon the documents at Ex. A-1 to A-6 which were proved by Shri Debtanu Sengupta, Deputy 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 24/01 173. There is therefore, no reason to disbetieve the contentions of the Bank. Considering the facts of the case, I opine that the Defendants are jointty and severatty liable to pay the claim amount together with interest and costs. The Appticant'Bank in its apptication has ctaimed interest w.ith monthly rests but has not specified the prevaiting rate of interest. However, lfeet it fair and reasonabte to grant interest @10% p.a. simpte pendentetite and future titl realization of the dues. The mortgaged property is tiabte to be sotd for recovery of amount due along with the personal propert.ies and assets of the Defendants.

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The Originat Application is altowed and it is ordered as under-

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i) The Defendants do pay jointty and severatty Rs. 56,1g,777.00 (Rupees Fifty Six Lakh, Eighteen Thousand, Seven Hundred and Seventy Seven only) together with pendentetite and future interest @10% per annum simple from the date of fiting of the OA, i.e.,23/06/?2. with costs titt its reatization.

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ii) The Appticant Bank is entitted to sett 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 from depteting, transferring, encumbering, atienating or in any way deating with their properties/ assets without first paying the ctaim of the Appticant Bank.

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oA787122

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iii) A Recovery Certificate be issued uls 19(77) of Recovery of Debts and Bankruptcy Act. The applicant 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^{23'dJuty, 2025 at} Camp Court Raipur.

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07
( atet)
Presidine Officer

Idbi Bank v. M/S Anurag Engineering Work through Its Proprietor- Ms Amrita Pandey and Mr. Brij Bushan Pandey

Case brief

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Idbi Bank v. M/S Anurag Engineering Work through Its Proprietor- Ms Amrita Pandey and Mr. Brij Bushan Pandey

Case brief

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What did the court decide?

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