DRT-I Delhi allowed the bank's recovery application against absconding borrowers for Rs. 37.7 lakhs. The court awarded 12% p.a. interest considering global market trends and directed issuance of a recovery certificate.
Defendants directed to pay Rs.37,70,509.86 with 12% p.a. interest and costs; recovery certificate issued.
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T.A. No. 503 of 2022
Debts Recovery Tribunal-I, Delhi 4th floor, Jeevan Tara Building, Parliament Street, New Delhi
Presiding Officer: Shri Govind Ballabh Sharma
T.A. No. 503 of 2022
IDFC First Bank Ltd.
Upper Ground Floor No.62/20, Opposite New Prem Dhaba & Big Bazar New Rohtak Road, Karol Bagh New Delhi-110005
Applicant
Versus
All available at:
Ground & 1st Floor, Plot No.299 1st FNG Road, Sector 121, Garhi Chaukhandi, Noida, UP-201301
Also at:
H.No.14A, Gali No.7,
Near Gyan Deep Public School Ankit Vihar Phase I, Chhotpur Colony Sector-63, Noida, UP-201301 Defendants
Present: Sh.Shivang Gupta, Counsel for the applicant bank
Date of Institution: 19.09.2021 Date of Pronouncement: 14.01.2025
FINAL ORDER
This original application has been filed by the applicant on 19.09.2021 before DRT III Delhi and then transferred to DRT-I Delhi through Shri Farid Ahmed, authorized sd
T.A. No. 503 of 2022
representative of the applicant bank under Section 19(1) of the recovery of Debts and Bankruptcy Act 1993 against the defendants for recovery of a sum of Rs.37,70,509.86 (Rupees Thirty Seven Lacs Seventy Thousand Five Hundred Nine and paisa Eighty Six Only) as on date together with pendentelite and future interest from the date of filing of present application along with costs. Further, the name of Mr. Sagar Juneja, AR was substituted in place of Shri Farid Ahmed, erstwhile AR for the applicant bank.
T.A. No. 503 of 2022
applicant bank recalled the entire outstanding by issuing legal notice dated 25.08.2021 but defendants deliberately failed and neglected to repay the dues of the applicant bank.
T.A. No. 503 of 2022
ORDER
I, allow this OA and direct the defendants to pay to the applicant bank, jointly or severally, within 30 days, a sum of Rs.37,70,509.86 (Rupees Thirty Seven Lacs Seventy Thousand Five Hundred Nine and paisa Eighty Six Only) together with pendentelite and future interest @12.00% per annum from the date of filing of this O.A. till the date of realization along with costs. In case of shortfall, the aforesaid amount shall be recovered from the sale of movable and immovable property of the defendants.
II) The recovery certificate be issued forthwith and be sent to the Recovery Officer, Debt Recovery Tribunal-I, Delhi.
sd-
T.A. No. 503 of 2022
III) Parties are directed to appear before Recovery Officer, DRT I, Delhi on 17.03.2025.
IV) Copies of final order as well as Recovery Certificate be sent to all concerned free of cost.
(GOVIND BALLABH SHARMA) PRESIDING OFFICER DRT-I, DELHI
(Dictated and pronounced in open court) Dated: 14.01.2025
2 issues framed by the court
Whether the original application for recovery of a decretal amount deserves to be allowed.
What rate of interest should be awarded on the decretal amount post-disbursal.
1 provisions across 1 enactments
IDFC First Bank Ltd.
Patna Clinic and Diagnostic Centre
Pappu Kumar Jha
Khushbu Jha
Govind Ballabh Sharma
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
