Model
format of Application under Section 19 of the Recovery of Debts due to Banks
and Financial Institutions (Act 1993)
FOR USE IN
TRIBUNAL OFFICE :
Date of Filing :
Date of Receipt :
Registration No :
Signature of the Registrar
BEFORE
THE HON’BLE DEBTS RECOVERY TRIBUNAL-III
AT -----------
O.A.
No.
of 20
------------------- Bank,
Represented
by its Branch Manager
---- address----.
..APPLICANT
-Versus-
1. Name and address
2. Name and address
--- DEFENDANTS
Application
under Section 19 of the Recovery of Debts due to Banks and Financial
Institutions (Act 1993)
I. DETAILS OF APPLICATION
1)
Particulars
of the Applicant:
a). Name of the
Applicant : ---------- BANK .
b). Address of
the Branch :
---------------.
c).
Address for Services of Notices : M/s.-------------------
Advocates,
----ADDRESS---.
II.
Particulars of the Defendants :
a). Names &
Addresses of the Defendants :
1
.First Defendant : ------------
2.
Second Defendant : -------------
b) Address for service of all Notices, Processes and summons on
the Defendants are the same as stated above.
III.
Jurisdiction of the Tribunal :
The
Applicant submits that the Defendants availed a OD-Cent
Trade-Working Capital Loan and Micro
Enterprise-Service (Term Loan) loan to an extent of Rs.-----------/- (Rupees ------- Only) and Rs.--------/- (Rupees --------- Only) respectively, from
the Applicant and executed the various facility Agreements at -----------,
where the Applicant Bank is having its branch office at No.-----/------, -------
Road, ------------. Hence this Hon’ble Tribunal is having Jurisdiction to
entertain and dispose of this application.
IV. Limitation:
The
above Original Application has been filed within the period of limitation as
per Sec.24 of the Recovery of Debts Due to Banks and Financial Institutions
Act, 1993. The OD-Cent Trade-Working Capital Loan is payable on demand by the
applicant bank and the Micro Enterprise-Service
(Term Loan) Loan is payable in -- Monthly Installments. The 1st
Installment fell due on ---------- . For both the loans the
Loan documents were executed on ------------. Hence, no part of cause of action
was allowed to be barred by limitation and the above O.A. is well within the
period of Limitation.
V. Facts of the Case:
1. The Applicant is --------- Bank, a body corporate constituted under
the Banking companies (Acquisition and Transfer of Undertakings) Act,1970,
having its Head Office at ------------, Registered Office at ---------------
and Branch Office at ------------ represented through its Branch Manager Mr.-----------.
2.
The First Defendant is Mrs.------------, Wife of Mr.------------, Proprietrix
of M/s.Sri --------- Gas Agency having office at -----------.
3. The Second
Defendnat is Mr.--------- S/o.Mr.---------, residing at -------------
4. Applicant states that the Applicant is a
body corporate constituted under the Banking companies (Acquisition and
Transfer of Undertakings) Act,1970, and lending money to its customers for
various purposes including OD-Cent Trade-Working
Capital Loan and Micro Enterprise-Service (Term Loan) loan. The
applicant states that in the month of -----,20 , both the Defendants approached the
Applicant Bank for purpose of availing certain credit facilities viz. OD-Cent Trade-Working Capital Loan and Micro Enterprise-Service (Term Loan). Thereafter the Defendants submitted the loan application form dated -------------- to
the Applicant.
5. The
Applicant states that on scrutinizing the documents submitted by the Defendants with regard to their financial capacity and
also on considering the co-applicant’s assurance given by the Second Defendant
for the due repayment of the loan to be sanctioned to the Defendants, the
Applicant bank sanctioned the OD-Cent
Trade-Working Capital Loan and Micro
Enterprise-Service (Term Loan) loan of Rs.--------------------/- (Rupees ------------- Only) and Rs.---------------
/- (Rupees ---------- Only) respectively.
6. The Applicant
states that, on ---------------, the First Defendant and Second Defendant
executed the OD-Cent Trade-Working Capital Loan
agreement and Micro Enterprise-Service (Term Loan) Loan
Agreement to and in favour of the Applicant Bank vide account Nos.------------------- and ------------------- respectively, in and
by which the Defendants agreed to repay the loan amount of Rs.--------------------/- (Rupees ----------------- Only) as and when
demanded by the applicant and Rs.-----------------
/- (Rupees --------------------- Only) in
--- equated
monthly Installments at Rs.--------/- per month commencing from ----------. The Defendants agreed to pay interest at the
rate of ------- % presently ------ % and -------% presently -------- % per annum and Sanctioned Interest rate + 2% per annum on
failure to pay the installments regularly as per the schedule of the loan
agreements dated ------------- and also agreed to mortgage the
immoveable property in favour of the Applicant Bank thereby creating a charge
over the immoveable property for repayment of amount due under the said loans.
7. The applicant
states that as per the clause in the OD-Cent
Trade-Working Capital Loan agreement and Micro
Enterprise-Service (Term Loan) loan agreement both dated ---------, in the event of the default the applicant bank
will be entitled to claim all the loan
amount and due payable by the Defendants with accrued interest. The Applicant craves leave of this
Hon’ble Tribunal to treat the various terms and conditions contained in the
said OD-Cent Trade-Working Capital Loan
Agreement and Micro Enterprise-Service (Term Loan) Loan Agreement as
part and parcel of this Original Application. The Applicant states that
apart from the said Agreements, the Defendants 1 and 2 also executed Promissory
Note for a sum of Rs.---------------/-
(Rupees --------- Only) and a Letter of
Hypothecation for Rs.----------------/-
(Rupees ------- Only) in which the
Defendants 1 and 2 have agreed to repay on demand to the Applicant the said
amount together with interest at the rate of -----% per annum presently ------% for OD-Cent
Trade-Working Capital Loan Agreement and ------% presently % per
annum for and Micro Enterprise-Service (Term
Loan) Loan Agreement.
8. The Applicant
states that as per the OD-Cent Trade-Working
Capital Loan Agreement and Micro Enterprise-Service
(Term Loan) Loan Agreement dated ------, the Applicant disbursed a sum
of Rs.------------/- (Rupees ----------- Only) and Rs.--------/- (Rupees ------------- Only) respectively after deducting an agreeable amount towards
processing charge and service charges. Thereafter the Defendants had utilized the loan amount for
developing the business.
9. The Applicant
states that the Defendants were irregular in making payments towards the said
Loan Accounts and had paid only few installments and thereafter failed to make
any payment. The Applicant states that since the Defendants failed and
neglected to pay any amount to the Applicant under the loan account in spite of
repeated demands made by the Applicant, the Applicant caused a notice dated ---------- calling upon the defendants to repay the
entire sum of Rs.------------ /- (Rupees --------------
Only) which includes principal and interest till --------. The Applicant states
that the said legal notices were duly served on the defendants. Even after
receipt of the notice the defendants paid only a meagre amount towards the due.
10. The Applicant
states after adjusting the payments made by the defendants in both the loan
transactions, the First Defendant as the Borrower and the Second Defendant as the
co-Borrower are jointly and severally
liable to pay said sum of Rs.----------------/- in OD-Cent Trade-Working Capital Loan and Rs.------------/-
in Micro Enterprise-Service (Term Loan) Loan totalling to a sum of Rs.-------------
/- (Rupees ------- Only) as
on ------ to the Applicant Bank.
11. The Applicant states that, Rs.------------ /- (Rupees -------------- Only)
as on ---------- owing by the Defendants jointly and severally
to the Applicant under the above Loans. The Applicant states that the statement
of account maintained by the Applicant in respect of the above loans discloses
total amount paid and the total dues, but the Applicant is also entitled for
entire unpaid principal and accrued interest thereon as on -------------. Hence the Applicant is
filing the Statement of account
dated ---------- and Running Ledger
balance dated --------- which shows the entire unpaid principal and accrued
interest.
12. The cause of action for the above
application arose at Chennai within the jurisdiction of this Hon’ble Tribunal
where the Defendants availed the OD-Cent
Trade-Working Capital Loan and Micro
Enterprise-Service (Term Loan) Loan from the Applicant Bank, where the
Applicant is having its Registered Office at -------------, when
the Defendants submitted the Application form, subsequently, when the
Defendants executed the OD-Cent Trade-Working
Capital Loan Agreement and Micro Enterprise-Service (Term Loan) Loan
Agreement both dated -------- and other
documents as stated hereinabove,
subsequently when the Applicant disbursed the said Loan amount to the
Defendants, subsequently when the Defendants made payment of only few monthly
installments and thereafter when the Defendants failed and neglected to pay the
amounts due under the OD-Cent Trade-Working
Capital Loan Account and Micro Enterprise-Service (Term Loan) Loan
Account, subsequently when the Applicant made several demands including their
notice dated ---------- which were duly
served on the defendants, subsequently when the Defendants failed and neglected
to pay the entire amount due under the said Loan Account and subsequently de
die in diem.
VI. Relief Sought:
In view of the facts mentioned above in this
Application, the Applicant prays that this Hon’ble Tribunal may be pleased to
pass and grant the following reliefs:
1. to pass a final decree by issuing Recovery
Certificate against the Defendants for a sum of
Rs.------------/- in OD-Cent Trade-Working
Capital Loan and Rs.------------/- in Micro Enterprise-Service (Term Loan) Loan
totalling to a sum of Rs.------------/-
(Rupees -------- Only) as on ---------- which is due and payable under the loan availed by the Defendants
by directing the Defendants 1 & 2 to jointly and severally pay to the
Applicant the said sum of Rs.------------/-
(Rupees --------- Only) is due
as on -------- together with interest at -----% per annum for Rs.---------/- and -------% per annum for Rs.-------/-
from ----------- till date of
realization of the same;
2. in
default, by directing the secured asset described in the Schedule to the O.A to
be sold and the sale proceeds, after defraying therefrom the expenses of the
sale applied in and towards payment of the amounts of the said Principal,
interest and costs;
3. by
directing the Defendants 1&2 jointly and severally, if such sale proceeds
shall not be sufficient for the payment in full of such amount, to pay to the
Applicant the amount deficient together with interest at the rate of ------% per
annum and -----% per annum for the respective loans until
realization;
4. directing the Defendants 1&2 to jointly
and severally pay the costs of this application to the Applicant;
and
5. to grant such
other or further reliefs that this Hon’ble Tribunal may deem fit and proper in
the circumstances of the case.
VII. Interim Relief Sought for:
No Application filed separately
13. The
Applicant further submits that the matter regarding this application is not
pending before any Court of Law or any Authority or any other Bench of this
Tribunal.
VIII. Particulars of the Bank Draft in respect of
Application Fees under Rule-8.
a) Name of the Bank Demand Draft Drawn: --------
Bank
b) Demand Draft No : -----------
c) Date of Issue : ------------
d) Amount paid :Rs.----------/-
IX. Details of Index:
An index containing detail of
documents relief upon is enclosed.
X. List of Enclosures:
This list of enclosures is contained in the index of
document relied upon by the Applicants.
COUNSEL FOR
APPLICANT APPLICANT
VERIFICATION
I,
-------, Branch Manager of the Applicant Bank above named do hereby declare and
verify that what is stated above are true to my knowledge and belief.
Verified
at Chennai on this the day of -----, 20
APPLICANT
SCHEDULE
Item
No.1
All that piece and parcel of land and building in ----------, comprised
in Survey No.------- District measuring ---- sq.ft of land with building in
Ground Floor measuring ---- Sq.ft and portico measuring ---- sq.ft together
with service connection No.----------- and bounded on the
North by ------------’s
House
South by Survey No.----/---
East by ------
street
West by
Survey No.---/---
And
situate within the Registration District of -------and Sub-Registration
District of--------------.
Item
No.2
All
that piece and parcel of land with
building in ---------, comprised in Survey No.------, Patta No.----, ---------
District measuring Acre------ Cents and situate within the Registration
District of ------- and Sub-Registration District of----------.
Item No.3
Plant and Machinery in the premises of M/s.--------- Gas
Agency having office at ---------
VERIFICATION
I, -------, Branch
Manager of the Applicant Bank above named do hereby declare and verify that
what is stated above are true to my knowledge and belief.
Verified
at Chennai on this the day of ------, 20
APPLICANT
Place :
Date :
defendants,
subsequently when the Defendants failed and neglected to pay the entire amount
due under the said Loan Account and subsequently de die in diem.
VI. Relief Sought:
In view of the facts mentioned above in this
Application, the Applicant prays that this Hon’ble Tribunal may be pleased to
pass and grant the following reliefs:
1. to pass a decree directing the defendants to
repay the applicant a sum of Rs.--------/-
in OD-Cent Trade-Working Capital Loan and Rs.------------/-
in Micro Enterprise-Service (Term Loan) Loan totalling to a sum of Rs.---------------/- (Rupees -------- Only)
as on ------- together with interest at ----% per annum for Rs.----------/- and -----% per annum for Rs.-------/-
from----------- till date of
realization of the same;
2. in default of the defendants to pass a final
decree by issuing Recovery Certificate against the Defendants for a sum of Rs.---------/- in OD-Cent Trade-Working Capital Loan and Rs.------/- in Micro
Enterprise-Service (Term Loan) Loan totalling to a sum of Rs.---------/- (Rupees ---------------- Only)
as on ---- together with interest at ----%
per annum for Rs.-----/- and ------%
per annum for Rs.-------/- from ------- till date of realization of the same;
3. in
default, by directing the secured asset described in the Schedule to the O.A to
be sold and the sale proceeds, after defraying therefrom the expenses of the
sale applied in and towards payment of the amounts of the said Principal,
interest and costs;
4. by
directing the Defendants 1&2 jointly and severally, if such sale proceeds
shall not be sufficient for the payment in full of such amount, to pay to the
Applicant the amount deficient together with interest at the rate of ----- % per
annum and ---- % per
annum for the respective loans until realization;
5. directing the Defendants 1&2 to jointly
and severally pay the costs of this application to the Applicant;
and
6. to grant
such other or further reliefs that this Hon’ble Tribunal may deem fit and
proper in the circumstances of the case.
VIII. Interim Relief Sought for:
No Application filed separately
13. The
Applicant further submits that the matter regarding this application is not
pending before any Court of Law or any Authority or any other Bench of this
Tribunal.
III. Particulars of the Bank Draft in respect of
Application Fees under Rule-8.
a) Name of the Bank Demand Draft Drawn: Central Bank
of India
b) Demand Draft No : -------
c) Date of Issue : -------
d) Amount paid :Rs. ------ /-
IX. Details of Index:
An index containing detail of
documents relief upon is enclosed.
X. List of Enclosures:
This list of enclosures is contained in the index of
document relied upon by the Applicants.
COUNSEL FOR
APPLICANT APPLICANT
VERIFICATION
I,
------- , Branch Manager of the Applicant Bank above named do hereby declare
and verify that what is stated above are true to my knowledge and belief.
Verified
at ------ on this the day of --------, 20
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