Bank sought recovery of dues from borrowers who defaulted on a cash credit facility. Debt Recovery Tribunal proceeded ex parte due to defendant absence and allowed the original application.
Recovery of sum of Rs.70,03,061.91 along with interest; order for sale of hypothecated and other properties in case of shortfall.
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T.A. No.870 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. 870 of 2022
Canara Bank SME Branch, 30-31, Commercial Complex Wazirpur Industrial area Delhi-110052
Applicant
Versus
Both at:
Plot No. A-9, A-10, Old no.45-45A First Floor Khasra No.88/21 Rajdhani Park, Metro Pillar no.459 Mundka, Nangloi, Delhi-110041
Also at:
House No.163, Kasba Ward-V Dadri Tehsil, District Bhiwani
Also at:
A-3, 147-148, Sector-11, Prashant Vihar, Rohini, Delhi-110085 Defendants
Present: Shri M.K.Jha, Counsel for the applicant bank
Date of Institution: 24.07.2019 Date of Pronouncement: 15.03.2025
T.A. No.870 of 2022
FINAL ORDER
This original application has been filed by the applicant bank on 24.07.2019 before DRT-III and then transferred to DRT-I, Delhi through Shri Dhananjay Sahay, authorized representative of the applicant under Section 19 of Recovery of Debts and Bankruptcy Act, 1993 against the defendants for recovery of a sum of Rs.70,03,061.91/- (Rupees Seventy Lacs Three Thousand Sixty One and paisa Ninety One only) as on 30.06.2019 along with pendentelite and future interest @9.65% per annum with monthly rests plus @2% penal interest till the date of realization and costs.
T.A. No.870 of 2022
5a/-"
T.A. No.870 of 2022
ORDER
I, allow this OA and direct the defendants to pay to the applicant bank, jointly or severally, within a period of 30 days, a sum of Rs.70,03,061.91/- (Rupees Seventy Lacs Three Thousand Sixty One and paisa Ninety One only) along with pendentelite and future interest @11.65% per annum with monthly rests from the date of filing this application till the date of realization, failing which the aforesaid amount shall be recovered from the sale of the hypothecated stock, book debts, plant & machinery and other fixed assets. In case of shortfall, the same shall be recovered from the sale of movable and immovable properties of the defendants.
(II) The recovery certificate be issued forthwith and be sent to the Recovery Officer, Debt Recovery Tribunal-I, Delhi.
(III) Parties are directed to appear before the Recovery Officer, DRT I, Delhi on 14.05.2025.
T.A. No.870 of 2022
(IV) Copies of final order as well as Recovery Certificate be sent to all concerned free of cost.
,5q(-
(GOVIND BALLABH SHARMA) PRESIDING OFFICER DRT-I, DELHI
(Dictated and pronounced in open court) Dated: 15.03.2025
Canara Bank SME Branch
M/s Radhey Radhey Timber Through its Proprietor Sh. Nikhil Bindal
Sh. Nikhil Bindal
Govind Ballabh Sharma
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
