JUDGMENT
1. The Applicant Bank originally filed this O.A. on 19.12.2020, against the Defendant for the recovery of a sum of Rs.57,20,808/- (Fifty Seven Lacs Twenty Thousand Eight Hundred Eight only) on Cash Credit Facility @ 10.90% p.a. with monthly rests from the Defendant with date of filing this original application till the date of realization and in default by
sale of mortgaged property i.e. „Equitable mortgage of Residential House situated at Village Mahu Ibrahimpur, Hindaun City, District Karauli, Rajasthan standing in the name of defendant no. 2 admeasuring 64.63 sq. yards, Residential House situated at Village Mahu Ibrahimpur, Hindaun City, District Karauli, Rajasthan standing in the name of defendant no. 3 admeasuring 64.63 sq. yards.
"Shop situated in New Mandi, Station Road, Hindaun City, District Karauli, Rajasthan standing in the name of defendant no. 4 admeasuring 22.22 sq. yards. (The detailed description of property is given in para no. 3-A & 5(e) of OA). AND hypothecated of stock of all type of Grains including all type of inventory and book debts/receivables of entire crop /growing crop, stock, agricultural equipments/assets present & future as well as tangible movable property etc as well as other Personal movable and immovable properties/assets of Defendant, jointly and severally. The applicant bank is entitled to proceed against the same towards recovery of its debt. The applicant bank is entitled to the costs and expenses of the original application.
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The brief facts of the case are-
That the present original application was filed by the Senior Manager of the applicant bank and who was authorized to sigh & verify the original application and the same on behalf of the bank vide Power of Attorney exhibit A/1.
That the Defendant no. 1 approached the applicant bank for seeking Cash Credit Limit of Rs. 45.00 lacs for their business purposes.
That the request made by the defendant, the applicant bank sanctioned the Term Loan (Hypothecation/Mortgage) of Rs. 4.65 lacs in favour of defendant and the defendant execute required loaning documents in favour of applicant bank.
That the request made by the defendants, the applicant has sanctioned of the aforesaid loan facility to the defendants of Rs. 45.00 lacs. In this regard the defendants signed and executes required loaning documents in favour of applicant bank.
That the defendants deposit the title deeds of their immovable properties in favour of applicant bank. (The detailed description of properties are given in para no. 3- A and 5 (e) of OA).
That the defendants availed the above loan facility, but failed to abide by the financial discipline of the aforesaid loan facility.
That the Defendants failed to maintained financial discipline and did not repay the due/overdue/interest as per the agreed terms and conditions of the sanction and loan agreement/document, as it is evident from a bare perusal of the statement of account furnished by the
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applicant bank, therefore, the account of defendants classified as NPA on 31.01.2019 as per guidelines of RBI. That the applicant bank served a notice to the Defendant, but the Defendant failed to pay the same to the applicant bank.
That the applicant bank prayed to issue a recovery certificate for the aforesaid amount against the Defendants and also entitled to realize outstanding amount by the sale of above mentioned Mortgage property AND hypothecated goods etc, as well as other Personal movable and immovable properties/assets of Defendant, jointly and severally. The applicant bank is entitled to proceed against the same towards recovery of its debt.
2. The Defendant is called absent and set ex-parte on 18.07.2022.
3. The applicant bank filed its evidence affidavit along with list of documents, annexing therewith Exhibit A/1 to A/22.
4. Heard arguments of Ld. Counsel for the applicant bank.
5. The point that arise for consideration is:
Whether the applicant bank is entitled to the claim as prayed for?
6. As stated supra, the Defendant remained ex-parte. The applicant bank filed the evidence affidavit coupled with the recitals in the documents, viz Exhibit A/1 to A/22 marked on behalf of the applicant bank, clinches the claim of the applicant bank against the Defendant. Hence, I hold that the Defendant is liable to pay to the applicant bank the claim made in O.A. with future interest and costs.
7. In the result, this O.A. No. 020 OF 2021 is allowed declaring that:-
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a) The Defendant is liable to pay to the applicant bank a sum of Rs.57,20,808/- (Fifty Seven Lacs Twenty Thousand Eight Hundred Eight only) with future interest @ 10% p.a. (Simple) from the date of filing the original application till the date of realization.
b) The applicant bank is entitled to recover the above amount by the by sale of mortgaged property i.e. „Equitable mortgage of Residential House situated at Village Mahu Ibrahimpur, Hindaun City, District Karauli, Rajasthan standing in the name of defendant no. 2 admeasuring 64.63 sq. yards, Residential House situated at Village Mahu Ibrahimpur, Hindaun City, District Karauli, Rajasthan standing in the name of defendant no. 3 admeasuring 64.63 sq. yards.
"Shop situated in New Mandi, Station Road, Hindaun City, District Karauli, Rajasthan standing in the name of defendant no. 4 admeasuring 22.22 sq. yards. (The detailed description of property is given in para no. 3-A & 5(e) of OA). AND hypothecated of stock of all type of Grains including all type of inventory and book debts/receivables of entire crop /growing crop, stock, agricultural equipments/assets present & future as well as tangible movable property etc as well as other Personal movable and immovable properties/assets of Defendant, jointly and severally. The applicant bank is entitled to proceed against the same towards recovery of its debt.
c) The applicant bank is entitled to the costs and expenses of the O.A.
8. The recovery certificate be issued forthwith and be sent to the Recovery Officer, DRT, Jaipur.
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9. Parties are directed to appear before the Recovery Officer, DRT, Jaipur on 11/01/2023.
10. Prepare Recovery Certificate accordingly.
11. 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.
(Vivek Saxena)
Presiding Officer, Debts Recovery Tribunal, Jaipur Order pronounced in the open court today i.e. 30/09/2022.
(Vivek Saxena)
Presiding Officer, Debts Recovery Tribunal, Jaipur Place-Jaipur
Dated-30/09/2022
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BEFORE THE DEBTS RECOVERY TRIBUNAL, JAIPUR
PRESENT- SHRI VIVEK SAXENA
PRESIDING OFFICER
O.A. NO. 020 OF 2021
DATE OF DELIVERY OF ORDER 30/09/2022
RECOVERY CERTIFICATE
(UNDER SUB Section 22 of the Recovery of Debts due to Banks and Financial Institutions Act, 1993 (Act 51 of 1993)
PUNJAB NATIONAL BANK, having its Head Office at Plot No. 4, Sector-10, Dwarka, New Delhi-110075 and a Branch Office at Hindaun City, District Karauli, Rajasthan its Senior Manager/Authorized officer.
…Applicant Bank…..
VERSUS
1. M/S MEGHRAJ POORANCHAND R/o. Dholeta Road, Mandi Yard Road, Kyarda Khurd, Hindaun City, District Karauli, Rajasthan-322230 AND/OR G1-16, Industrial Area, Hindaun City, District Karauli, Rajasthan-322230 through its proprietor Ram Dayal Gupta.
2. RAM DAYAL GUPTA S/o Shri Kinduri Lal Gupta (Prop. M/s Meghraj Pooranchand) address- Mahajan Street, Village & Post, Mahu Ibrahimpur, Hindaun City, District Karauli, Rajasthan
3. BABU LAL GUPTA S/o Shri Kinduri Lal Gupta address- Mahajan Street, Village & Post, Mahu Ibrahimpur, Hindaun City, District Karauli, Rajasthan
4. SMT LAXMI DEVI W/o Shri Meghraj Garg address- New\Mandi Yard, Near Pavta House, Hindaun City, District Karauli, Rajasthan.
……Defendants…..
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Recovery Certificate for Rs. 57,20,808/-
In terms of final order dated 30/09/2022 passed by this Tribunal in the above mentioned case, it is ordered that the-
a) The Defendant is liable to pay to the applicant bank a sum of Rs.57,20,808/- (Fifty Seven Lacs Twenty Thousand Eight Hundred Eight only) with future interest @ 10% p.a. (Simple) from the date of filing the original application till the date of realization.
b) The applicant bank is entitled to recover the above amount by the by sale of mortgaged property i.e. „Equitable mortgage of Residential House situated at Village Mahu Ibrahimpur, Hindaun City, District Karauli, Rajasthan standing in the name of defendant no. 2 admeasuring 64.63 sq. yards, Residential House situated at Village Mahu Ibrahimpur, Hindaun City, District Karauli, Rajasthan standing in the name of defendant no. 3 admeasuring 64.63 sq. yards.
"Shop situated in New Mandi, Station Road, Hindaun City, District Karauli, Rajasthan standing in the name of defendant no. 4 admeasuring 22.22 sq. yards. (The detailed description of property is given in para no. 3-A & 5(e) of OA). AND hypothecated of stock of all type of Grains including all type of inventory and book debts/receivables of entire crop /growing crop, stock, agricultural equipments/assets present & future as well as tangible movable property etc as well as other Personal movable and immovable properties/assets of Defendant, jointly and severally. 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 and expenses of the
O.A.
ii. Parties are directed to appear before the Recovery Officer, DRT, Jaipur on 11/01/2023.
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.
This Certificate has been issued under my signatures and seal of the Tribunal on this 30/09/2022.
(Vivek Saxena)
Presiding Officer, Debts Recovery Tribunal, Jaipur Place-Jaipur
Dated-30/09/2022
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FORM NO. 10
[See Regulation-24(1)]
DEBTS RECOVERY TRIBUNAL
First Floor, Sudharma-II, Opp.Kisan Bhawan, Lal Kothi Shopping Centre, Tonk Road, JAIPUR- 302015
SCHEDULED TO RECOVERY CERTIFICATE
MEMO OF COST
O.A No. 020 OF 2021 PUNJAB NATIONAL BANK, having its Head Office at Plot No. 4, Sector-10, Dwarka, New Delhi-110075 and a Branch Office at Hindaun City, District Karauli, Rajasthan its Senior Manager/Authorized officer.
…Applicant Bank…..
VERSUS
1. M/S MEGHRAJ POORANCHAND R/o. Dholeta Road, Mandi Yard Road, Kyarda Khurd, Hindaun City, District Karauli, Rajasthan-322230 AND/OR G1-16, Industrial Area, Hindaun City, District Karauli, Rajasthan-322230 through its proprietor Ram Dayal Gupta.
2. RAM DAYAL GUPTA S/o Shri Kinduri Lal Gupta (Prop. M/s Meghraj Pooranchand) address- Mahajan Street, Village & Post, Mahu Ibrahimpur, Hindaun City, District Karauli, Rajasthan
3. BABU LAL GUPTA S/o Shri Kinduri Lal Gupta address- Mahajan Street, Village & Post, Mahu Ibrahimpur, Hindaun City, District Karauli, Rajasthan
4. SMT LAXMI DEVI W/o Shri Meghraj Garg address- New\Mandi Yard, Near Pavta House, Hindaun City, District Karauli, Rajasthan.
……Defendants…..
| S. No. |
Item of Costs |
Amount in Rupees |
| 1. |
Fee on the application |
60,000 |
| 2. |
Process Fees (inc. Publication) |
169 |
| 3. |
Advocate Fees |
1,250 |
| 4. |
Commissioner/Receivers/Valuation/ Security Fee |
NIL |
| 5. |
Miscellaneous Charges |
NIL |
|
Total Costs |
61,419 |
(Vivek Saxena)
Presiding Officer, Debts Recovery Tribunal, Jaipur Place-Jaipur
Dated-30/09/2022
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30/09/2022
Counsel:
Sh. R.C. SHARMA, Counsel for the Applicant Bank. Defendants are Ex-parte.
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.
(Vivek Saxena)
Presiding Officer, Debts Recovery Tribunal, Jaipur
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30/09/2022
Counsel:
Sh. R.C. SHARMA, Counsel for the Applicant Bank. Defendants are Ex-parte.
The Tribunal vide order dated 30/09/2022, directed the Registrar to verify the Recovery Certificate as per Regulation 24(1) and (2) of Debts Recovery Tribunal Jaipur Regulation 2015. The Registrar vide order dated 30/09/2022 verified the Recovery Certificate as per Regulation 24(1) and (2) of Debts Recovery Tribunal Jaipur Regulation 2015. Recovery Certificate is 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.
(Vivek Saxena)
Presiding Officer, Debts Recovery Tribunal, Jaipur
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DEBTS RECOVERY TRIBUNAL, JAIPUR
ORIGINAL APPLICATION NO. 020 OF 2021
The Recovery Certificate prepared in compliance of order dated 30/09/2022 passed by Hon'ble Presiding Officer, DRT, Jaipur in Original Application No. 020 OF 2021 Title- PNB Vs. M/S MEGHRAJ POORANCHAND & ors has been checked and may be verified.
Section Officer
Assistant Registrar
On the basis of the report of Section Officer the Recovery Certificate is verified. The Recovery Certificate is placed below for the signature of Hon'ble Presiding Officer please.
Assistant Registrar
Hon'ble Presiding Officer
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