Debts Recovery Tribunals and Appellate Tribunals
STATE BANK OF INDIA vs MEHAR CHAND on 15 March 2021
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Court of the Presiding Officer Debts Recovery Tribunal-1, Chandigarh
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**Case No. M.A. 41/2020**
**State Bank of India Vs Sh. Mehar Chand & Anr.**
**Date : 15.03.2021**
Present
Shri Vivek Verma, Counsel for the Applicant Bank None for the Defendants Applicant Bank has filed this M.A. praying therein that on account of failure of Defendants to adhere the settlement arrived between the Applicant Bank and Defendants in Lok Adalat held on 13.07.2019, a Recovery Certificate may be issued in the matter.
Heard and perused the record. As per affidavit filed by the Authorized Officer of the Applicant Bank, the Defendants failed to adhere the settlement arrived at between the parties in Lok Adalat dt. 13.07.2019 and as per agreed terms of said Lok Adalat on default in payment by the Defendants, Applicant Bank shall be entitled to realize its entire outstanding amount along with pendentlite and future interest, cost and other charges from the Defendants jointly and severely by sale of mortgaged properties as well as from the personal movable/immovable assets of the Defendants.
Accordingly, This M.A. is disposed of as allowed and a Recovery Certificate is issued in the matter in favour of Applicant Bank. Copy of the said Recovery Certificate be given free to the
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Court of the Presiding Officer Debts Recovery Tribunal-1, Chandigarh
parties concerned and be also sent to the concerned Recovery Officer.
File be placed before the Registrar for compliance. After compliance file of M.A. be tagged with its O.A. file and the same be consigned to record.
Presiding Officer, Debts Recovery Tribunal, Jaipur (Additional Charge of DRT-1, Chandigarh)