Allowed

Central Bank of India v. Atul Kumar Tiwari S/O Shri Dinesh Prasad Sharma

DRT29 Jan 2026OA/379/2024

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the applicant bank's application for recovery of a term loan and cash credit. The court awarded principal, modified interest rates, and granted an injunction against the borrower's property transfer.

What did the court decide?

Recovery of Rs. 27,64,494.79 plus interest at 10% p.a. granted; injunction restraining alienation of assets; Recovery Certificate to be issued.

Central Bank of India versus Atul Kumar Tiwari S/O… — Contract and Commercial Disputes | DRT (2026)

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DEBTS RECOVERY TRIBUNAL : JABALPUR

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(for the States of Madhya pradesh and Chhattisgarh)

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(Presiding officer - Hon'bte shri pravas Kumar singh, l/c DRT Jabatpur)

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Originol Application No. - 379124

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Central Bank of lndia Chirimiri Cottiery, District Manendragarh, Chirmiri-Bharatpur (C.G. )

..... Appticant

Versus

Atut Kumar Tiwari

S/o Shri Dinesh Prasad Sharma R/o H.No.83, Bichiya Kethari, Bhaisatat, Kethari, Manendragarh-Chirmiri- Bharatpur (C.G.) - 497442

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..... Defendant

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Counsel for the Appticant : Shri Kapit Duggat, Advocate Defendants : Ex-parte

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JUDGMENT

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(DateOl7gErJan uar)r, 2OZ6't

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The Appticant-Bank has fited the present Originat Apptication u/s 19 of Recovery of Debts and Bankruptcy Act on 11103124 against the Defendants for recovery of Rs. 27,64,494.79 (Rupees Twenty Seven Lakh Sixty Four Thousand, Four Hundred Ninety Four and Paisa Seventy Nine on(y) atong with interest and other retiefs as stated.

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The brief facts of the case are that on the request of Defendant, the Appticant Bank sanctioned the Term Loan of Rs. 13.50 Lakh and the Cash Credit of Rs. 9 Lakh on 19110/2019 which was subsequentty .$ b ,)renewed^{on 25109/21.lnconsiderationof the sanction of credit facititythe} tt"'y Defendant has executed requisite loan documents. The Defendant avaited the credit facitities but the account became irregutar and faited to tiquidate the outstanding dues despite issuance of Legat Notice dated 17/0412023 by the Appticant Bank. The Appticant-Bank has retied upon the documents at Ex. A-1 to A-18 which were proved by Shri Sanjay Pradhan, Chief Manager (Recovery).

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Despite service of notice, the Defendant neither appeared nor fited written statement. He was proceeded ex-parte vide order dated 05/07124. There is therefore, no reason to disbetieve the contentions of the Bank. Considering the facts of the case, I opine that the Defendant is tiabte

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oA379124

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to pay the ctaim amount^{togetherwith interest and costs. The Appticant'} Bank in its apptication^{has ctaimed interest@12%p.a. with monthty rests.} However, I feet it fair and^{reasonabteto grant [email protected]. simpte} pendentetite and future titt reatization^{of the dues.The personal properties} and assets of the Defendant^{are liabte to be sotd for recovery of amount} due.

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The Originat Apptication is attowed^and it^{is orderedas under-}

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i) The Defendant do pay Rs. 27,64,494.79^{(RupeesTwentySeven} Lakh Sixty Four Thousand, Four Hundred Ninety^{Four and Paisa SeventyNine} onty) together with pendentetite and future interest^{@10yoper annum simpte} from the date of fiting of the 0A, i.e.,^{11103124, with costs titt its} reatization.

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ii) The Appticant Bank is entitted to sel[ the^{personal properties} and assets of the Defendant for reatization of its dues.^{The Defendantis} hereby restrained by means of injunction from depteting,^{transferring,} encumbering, alienating or in any way deating with his^{properties/assets} without first paying the ctaim of the Appticant Bank.

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iii) A Recovery Certificate be issued u/s 19(22) of Recovery of Debts and Bankruptcy Act. The appticant 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 29th Day of January ,2026.

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Q'*$^''

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(Pravas Kumar Singh) DRT Lucknow lncharge DRT Jabatpur

Central Bank of India v. Atul Kumar Tiwari S/O Shri Dinesh Prasad Sharma

Case brief

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Central Bank of India v. Atul Kumar Tiwari S/O Shri Dinesh Prasad Sharma

Case brief

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