Debts Recovery Tribunals and Appellate Tribunals
BANK OF INDIA vs M/S REAL INVESTMENT AND SOLUTIONS EXPERTS on 31 March 2021
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DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH
MA 08/2021 In OA No. 245/2014 BOI Vs. M/s Real Investment & Solution Experts & Ors.
31.03.2021 Item No.69
Present: Adv.KPS Dhillon, Counsel for the Applicant Bank.
None for the defendants.
Applicant bank has filed this MA in OA No. 245/2014 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 dated 06.12.2014, 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 dated 06.12.2014 and as per the 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 property as well as the personal movable/immovable assets of the defendants. Let Recovery Certificate be issued and applicant bank is entitled to recover a sum of Rs. 35,90,670.68p with a simple interest @ 14.20% p.a. from the date of filing of OA till the realization of money. Parties to appear before concerned Ld. Recovery Officer, DRT-I, Chandigarh on 28.05.2021. Accordingly, this MA is disposed of as allowed and a Recovery Certificate is issued in the matter in favour of applicant bank. The copy of this order be given to both the parties as per rules and thereafter file be consigned to record room.
(Vivek Saxena) Presiding Officer DRT, Jaipur (Additional Charge DRT-I, Chandigarh) mg