Allowed

Bank of Baroda v. Ms Raj Mandir Studio

DRT19 Mar 2026OA/555/2025

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an original application filed by Bank of Baroda for recovery of dues. The court held that while the claimed amount was higher than the admitted liability in the Letter of Acknowledgement of Debts, the respondents were jointly and severally liable to pay Rs. 10,94,286.70 along with future interest.

What did the court decide?

Recovery Certificate issued for Rs. 10,94,286.70 with 10% simple interest from 01.07.2022, recoverable from hypothecated assets and personal property.

Bank of Baroda versus Ms Raj Mandir Studio — Execution and Attachment | DRT (2026)

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“ORIGINAL APPLICATION” No. 555 of 2025

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BEFORE THE DEBTS RECOVERY TRIBUNAL, JAIPUR

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PRESENT- SHRI VIMAL GUPTA

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PRESIDING OFFICER

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O.A. NO. 555 OF 2025

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DATE OF DELIVERY OF ORDER 19.03.2026

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BANK OF BARODA , a banking company constituted under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 having its Head Office at R. C. Dutta Road, Alkapµri, Vadodara and its branch offices throughout India along with a Branch known as Agra Road Branch, Dausa303303 (Rajasthan) through its Chief Manager Mr. Ram Lal Meena.

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…..Applicant Bank…..

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VERSUS

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1. M/S Raj Mandir Studio , a proprietorship firm having its registered office at Plot No. 18, Shikshak Colony, Gupteshwar Road, Dausa, Rajasthan, 303303 through it’s Prop. Mr. Shailendra Kumar Sharma.

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2. Mr. Shailendra Kumar Sharma S/o Mr. Ashok Kumar Sharma R/o Plot No. 18, Shikshak Colony, Gupteshwar Road, Dausa, Rajasthan – 303303.

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……Defendants…..

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Counsel for the Applicant Bank Ms. Mamta Pareek Defendants Ex parte

OA No. 555 of 2025

JUDGMENT

This Original Application was filed by the applicant bank on 26.12.2024 for recovery of outstanding amount of Rs. 20,39,687.04/- from the Defendants.

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As per the pleadings, the Defendant No. 1, Proprietorship firm, is the principal borrower who availed the credit facility from the Applicant Bank while Defendant No. 2 is the sole proprietor of the Defendant No. 1.

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It is submitted that the Defendant No. 1 through its proprietor had approached the applicant bank for availing Term Loan. After due consideration, Term Loan was sanctioned by the Applicant Bank in favour of Defendants in the year 2019 vide sanction letter dated 01.08.2019 for a total sum of Rs. 10 Lac.

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It is submitted that with a view to secure the repayment of the said facility, the Defendant No. 2 created equitable mortgage of immovable property by deposit of title deeds in favour of the Applicant Bank.

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It is submitted that the Defendant No. 1 and 2 with a view to acknowledge the liability for the said loan facility executed the Letter of Acknowledgement of Debts (LAD) dated 01.07.2022 for the liability of Rs. 10,94,286.70/-.

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Defendants failed to maintain financial discipline and therefore, their loan account was classified as NPA on 31.03.2021. Applicant Bank has therefore, filed this original application for recovery of its dues against the Defendants.

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OA No. 555 of 2025

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Summons were issued to the Defendants on 16.05.2025 and Court Commissioner was appointed for Dasti summons. The Court Commissioner filed his report dated 28.08.2025. As per report, dasti service was attempted but defendants not found at address and brother of the defendant no. 2 refused to accept the summons and also did not permit affixation of the summons. Therefore, defendants were proceeded exparte vide order dated 18.12.2025.

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Heard arguments and perused the record.

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Bank has filed this OA for a suit amount of Rs. 20,39,684.04/-, whereas the Defendant has acknowledged a liability of Rs. 10,94,286.70/vide Letter of Acknowledgement of Debts (LAD) dated 01.07.2022, Annexture A-19. After hearing the arguments and perusal of record, Bank is found entitled to Rs. 10,94,286.70/-and rest of claim is rejected. Therefore, a Recovery Certificate is to be issued for the amount of Rs. 10,94,286.70/- at the 10% simple interest against the Defendants, as they have acknowledged the said liability vide the latest LAD dated 01.07.2022.

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As stated supra, the Applicant Bank filed the evidence affidavit of Shri Ram Lal Meena coupled with the recitals in the documents, viz Exhibit A/1 to A/24 marked on behalf of the applicant bank, clinches the claim of the applicant bank against the Defendants. Hence, I hold that the Defendants are jointly & severally liable to pay to the

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OA No. 555 of 2025

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applicant bank the claim made in O.A. with future interest and costs.

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In the result, this O.A. No. 555 of 2025 is allowed declaring that:-

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a) The Defendants are jointly & severally liable to pay to the applicant bank a sum of Rs. 10,94,286.70/(Rupees Ten Lac Ninety Four Thousand Two Hundred Eighty Six and Seventy Paisa Only) with pendente lite and future interest @ 10% (simple) from 01.07.2022 till the date of realization.

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b) The applicant bank is entitled to recover the above amount from the sale of hypothecated assets and mortgaged property - Residential property situated at Plot No. 18, Shikshak Colony, Gupteshwar Road, Dausa (admeasuring 100 sq. yds.) belonging to Mr. Shailendra Kumar Sharma as well as from the personal movable and immovable properties/assets of Defendants. The applicant bank is entitled to proceed against the same towards recovery of its debt.

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c) The applicant bank is entitled to the costs of the O.A.

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12.The recovery certificate be issued forthwith and be sent to the Recovery Officer, DRT, Jaipur.

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13.Parties are directed to appear before the Recovery Officer, DRT, Jaipur on 23.04.2026 .

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14.Prepare Recovery Certificate accordingly.

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OA No. 555 of 2025

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15.A copy of the Judgment and Recovery Certificate be given or sent by registered post to each of the parties free. A copy of the Recovery Certificate be sent to the Recovery Officer of this Tribunal for necessary action as per the law.

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(Vimal Gupta) Presiding Officer, Debts Recovery Tribunal, Jaipur

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Order pronounced in the open court today i.e. 19.03.2026 .

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(Vimal Gupta) Presiding Officer, Debts Recovery Tribunal, Jaipur

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OA No. 555 of 2025

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BEFORE THE DEBTS RECOVERY TRIBUNAL, JAIPUR

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PRESENT- SHRI VIMAL GUPTA

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PRESIDING OFFICER

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O.A. NO. 555 OF 2025

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DATE OF DELIVERY OF ORDER 19.03.2026

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RECOVERY CERTIFICATE

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(UNDER SUB Section 22 of the Recovery of Debts due to Banks and Financial Institutions Act, 1993 (Act 51 of 1993)

…..Applicant Bank…..

VERSUS

2. Mr. Shailendra Kumar Sharma S/o Mr. Ashok Kumar Sharma R/o Plot No. 18, Shikshak Colony, Gupteshwar Road, Dausa, Rajasthan – 303303.

……Defendants…..

OA No. 555 of 2025

Recovery Certificate for Rs. 10,94,286.70/-

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In terms of final order dated 19.03.2026 passed by this Tribunal in the above mentioned case, it is ordered that the-

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a) The Defendants are jointly & severally liable to pay to the applicant bank a sum of Rs. 10,94,286.70/(Rupees Ten Lac Ninety Four Thousand Two Hundred Eighty Six and Seventy Paisa Only) with pendente lite and future interest @ 10% (simple) from 01.07.2022 till the date of realization.

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b) The applicant bank is entitled to recover the above amount from the sale of hypothecated assets and mortgaged property - Residential property situated at Plot No. 18, Shikshak Colony, Gupteshwar Road, Dausa (admeasuring 100 sq. yds.) belonging to Mr. Shailendra Kumar Sharma as well as from the personal movable and immovable properties/assets of Defendants. The applicant bank is entitled to proceed against the same towards recovery of its debt.

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c) The applicant bank is entitled to the costs of the O.A.

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Parties are directed to appear before the Recovery Officer, DRT, Jaipur on 23.04.2026 .

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The Recovery Officer shall realize the amount as per this Certificate in the manner and mode prescribed under Section 25 and 28 of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 (as amended from time to time) from the above named Certificate Debtor.

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OA No. 555 of 2025

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This Certificate has been issued under my signatures and seal of the Tribunal on this 19.03.2026 .

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(Vimal Gupta) Presiding Officer, Debts Recovery Tribunal, Jaipur

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OA No. 555 of 2025

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BEFORE THE DEBTS RECOVERY TRIBUNAL, JAIPUR

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PRESENT- SHRI VIMAL GUPTA

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PRESIDING OFFICER

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O.A. NO. 555 OF 2025

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DATE OF DELIVERY OF ORDER 19.03.2026

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SCHEDULE TO RECOVERY CERTIFICATE

MEMO OF COST

…..Applicant Bank…..

VERSUS

2. Mr. Shailendra Kumar Sharma S/o Mr. Ashok Kumar Sharma R/o Plot No. 18, Shikshak Colony, Gupteshwar Road, Dausa, Rajasthan – 303303.

……Defendants…..

OA No. 555 of 2025

S. No.	Item of Costs	Amount (Rs.)
1	Fee on the Application	23,005.00
2	Process Fee (Inc. Publication)	48.00
3	Advocate Fee	1,250.00
4	Court Commissioner’s Fees	10,000.00
5	Commission/Receiver/Valuation	NIL
6	Miscellaneous Charges	NIL
	Total	34,303.00

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(Vimal Gupta) Presiding Officer, Debts Recovery Tribunal, Jaipur

OA No. 555 of 2025

19.03.2026

Counsel:

Ms Mamta Pareek, Counsel for Applicant Bank Defendants are ex-parte

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Judgment dictated separately and pronounced in the open court. As per order the O.A. is allowed. Recovery Certificate be prepared accordingly and the Registry is directed to verify the Recovery Certificate as per Regulation 24(1) and (2) of Debts Recovery Tribunal Jaipur Regulation 2015 and after verification place the same before the Tribunal.

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(Vimal Gupta) Presiding Officer, Debts Recovery Tribunal, Jaipur

OA No. 555 of 2025

19.03.2026

Counsel:

Ms Mamta Pareek, Counsel for Applicant Bank Defendants are ex-parte

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The Tribunal vide order dated 19.03.2026 , directed the Registrar to verify the Recovery Certificate as per Regulation 24(1) and (2) of Debts Recovery Tribunal Jaipur Regulation 2015.

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The Registrar vide order dated 19.03.2026 verified the Recovery Certificate as per Regulation 24(1) and (2) of Debts Recovery Tribunal Jaipur Regulation 2015. Recovery Certificate be prepared accordingly. Copy of the Judgment and Recovery Certificate be given free to the concerned parties as well as be sent to the Recovery Officer for further proceedings. File be put up before the Registrar for compliance. After compliance file be consigned to record.

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(Vimal Gupta) Presiding Officer, Debts Recovery Tribunal, Jaipur

Bank of Baroda v. Ms Raj Mandir Studio

Case brief

What is this about?

What did the court decide?

Bank of Baroda v. Ms Raj Mandir Studio

Case brief

What is this about?

What did the court decide?

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