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State Bank of India V/S Nand Lal Sokhal and Others.


Company & Directors' Information:- C. LAL LIMITED [Active] CIN = U51909HR2012PLC046499

    O.A. No. 075 of 2019

    Decided On, 03 January 2020

    At, Debts Recovery Tribunal Jaipur

    By, THE HONORABLE JUSTICE: VIVEK SAXENA
    By, (PRESIDING OFFICER)

    For Petitioner: Anil K. Sharma



Judgment Text


1. The Applicant Bank originally filed this O.A. on 20.12.2018, against the Defendants for the recovery of a sum of Rs. 90,93,869/- (Ninety Lacs Ninety Three Thousand Eight Hundred Sixty Nine only) on Term Loan for purchase flat @ 09.05% p.a. with monthly rests from the Defendants with date of filing this original application till the date of realization and in default by sale of mortgaged property i.e. Flat bearing Flat No. 415, 4th Floor, Aradhana Residency, on plot No. G-1, Manglam City, Kalwar Road, Jaipur AND as well as Personal movable and immovable properties/assets of Defendants, 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.

2. The Defendants is called absent and set ex-parte on 22.10.2019.

3. The applicant bank filed its evidence affidavit along with list of documents, annexing therewith Exhibit A/1 to A/27.

4. Heard the 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 Defendants remained ex-parte. The applicant bank filed the evidence affidavit coupled with the recitals in the documents, viz Exhibit A/1 to A/27 marked on behalf of the applicant bank, clinches the claim of the applicant bank against the Defendants. Hence, I hold that the Defendants are 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. 075 of 2019 is allowed declaring that:-

a) The Defendants are liable to pay to the applicant bank a sum of Rs. 90,93,869/- (Ninety Lacs Ninety Three Thousand Eight Hundred Sixty Nine only) with future interest @ 10% p.a. (Simple) rests 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 sale of mortgaged property i.e. Flat bearing Flat No. 425, 4th Floor, Aradhana Residency, on plot No. G-1, Manglam City, Kalwar Road, Jaipur AND as well as Personal movable and immovable properties/assets of Defendants, 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.

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.

9. Parties are directed to appear before the Recovery Officer, DRT, Jaipur on 11.03.2020.

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.

Order pronounced in the open court today i.e. 03.01.2020.

RECOVERY CERTIFICATE

(UNDER Sub-section 22 of the Recovery of Debts due to Banks and Financial Institutions Act, 11054 (Act 51 of 11054)

Recovery Certificate for Rs. 90,93,869/-

In terms of final order dated 03.01.2020 passed by this Tribunal in the above mentioned case, it is ordered that the-

a) The Defendants are liable to pay to the applicant bank a sum of Rs. 90,93,869/- (Ninety Lacs Ninety Three Thousand Eight Hundred Sixty Nine only) with future interest @ 10% p.a. (Simple) rests 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 sale of mortgaged property i.e. Flat bearing Flat No. 415, 4th Floor, Aradhana Residency, on plot No. G-1, Manglam City, Kalwar Road, Jaipur AND as well as Personal movable and immovable properties/assets of Defendants, 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

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 11.03.2020.

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 03.01.2020.

SCHEDULED TO RECOVERY CERTIFICATE
MEMO OF COST

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.

The Tribunal vide order dated 03.01.2020, directed the Registrar t

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o verify the Recovery Certificate as per Regulation 24(1) and (2) of Debts Recovery Tribunal Jaipur Regulation 2015. The Registrar vide order dated 03.01.2020 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.
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