DRT-I, Chandigarh allowed an application by Bank of Baroda for recovery of loan dues aggregating to ₹24,21,742 along with interest. The court directed issuance of a Recovery Certificate and appearance before the Recovery Officer.
Recovery of ₹24,21,742 with interest; issuance of Recovery Certificate.
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IN THE DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH
BEFORE: A S NARANG, PRESIDING OFFICER
TA No: 142/2024 Date of Institution: 15.02.2013 Date of Decision: 23.07.2026
Bank of Baroda having its branches all over India and a branch at Gandhinagar, Jammu.
……..Applicant
……….Defendants
Advocates
Sh. Iqbal Mohd., Counsel for the applicant bank. None for the defendants.
TA for the Recovery of ₹24,21,742/- with interest @16.75% per annum with monthly rests from 15.02.2013.
ORDER
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para No.6 of the application). Defendant Nos.2 to 3 stood as guarantors for the aforementioned limits aggregating to ₹23.00 Lacs vide General form(s) of Guarantee dated 31.03.2008, (Annexures P16 to P-17). Both the loan facilities were chargeable to interest @16.75% per annum with monthly rests. On 31.12.2012, a sum of ₹24,21,742/- was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, the suit.
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1 issue framed by the court
Whether the recovery of loan dues with interest is permissible under the SARFAESI Act.
1 provisions across 1 enactments
Bank of Baroda
Ms. Vijay Kumari
Shanker Singh
Teg Alis
A S Narang
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
