JASPREET SINGH Vs. V K RAMPAL

JUDGEMENT

(1.) Present application is filed under Order I Rule 8-A read with Order I Rule 10 Code of Civil Procedure 1908. Name of deceased Dr. K.N. Rampal deleted during pendency of RSA vide order dated 18.03.2014.

(2.) It is further pleaded that civil suit No.13-N/1 of 1995/1987 title State Bank of India Vs Tej Straw Board Ltd. and others was decreed on 25.03.1997 by learned District Judge Sirmaur for recovery of Rs.3,40,028.98 (Rs. Three lac forty thousand twenty eight and ninety eight paise). Thereafter Dr. K.N. Rampal and others filed civil suit No. 82/1 of 2005/04 instituted on 11.05.2004 against State Bank of India Kala Amb branch for declaration that equitable mortgage relating to house No.3086 Sector 35-D Chandigarh was obtained by State Bank of India Kala Amb branch through its Branch Manager by way of fraud, misrepresentation and in collusion. State Bank of India Kala Amb branch H.P. moved Debts Recovery Tribunal-1, Chandigarh under Section 31-A of Recovery of debts due to Banks and Financial Institutions Act 1993. Debts recovery tribunal held that bank is entitled to recovery certificate of Rs.32,06,387/- alongwith cost and future interest @16% per annum with quarterly rest w.e.f. 27.02.2001 from defendants No.1 to 9 jointly and severally in terms of judgment and decree passed by learned District Judge Sirmaur dated 25.03.1997.

(3.) Presiding Officer of Debts recovery tribunal further directed that property i.e. House No.3086 Sector 35-D Chandigarh shall be free from any charge in respect of recovery of decretal amount. Thereafter State Bank of India Kala Amb branch District Sirmaur (H.P.) filed Appeal No.4 of 2011 title State Bank of India Vs. M/s.Tej Straw Board Pvt. Ltd. Kala Amb before Debts recovery appellate tribunal Delhi which was decided on 16.07.2013. Learned Debts recovery appellate tribunal Delhi allowed the appeal filed by State Bank of India Kala Amb branch and held that House No.3086 Sector 35-D Chandigarh shall remain under charge for recovery of decretal amount.