Allowed

Punjab National Bank v. Sharmistha Deb Purkayastha

DRT7 Aug 2023OA/118/2022

Case brief

AI extract

What is this about?

The Tribunal allowed a bank's original application for recovery of Rs. 30.15 lakhs from defaulting borrowers who had failed to repay a loan that became NPA. The bank was granted a recovery certificate, costs, and rights to proceed against secured and personal assets.

What did the court decide?

Recovery Certificate issued for Rs. 30,15,596.60 with interest @12% pa; charge on mortgaged property kept alive; bank entitled to proceed against secured and personal assets.

Punjab National Bank versus Sharmistha Deb Purkayastha — Banking and Recovery | DRT (2023)

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Guaranlee on 24.09.2015^and a^{Text of Consent Clauseto be taken from the} Guarantor along with^{loan documents.}

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The loan account of the^{defendantswas reviewedfrom time to time and the} defendant No.^'l had executed a^{BalanceConfirmation Letteron 24.07.23018} acknowledging their debt^{of Rs. 24,10,8231. The defendant No. 'l also executeda} Oemand Promissory^{Note on 27.O3.2O20.The defendants had alsoavailedthe} CFIL loan of Rs.^{1,40,225l- on 03.09.2020citingthat lhe covid situationhad} affecled their business.

¶31

The defendants had availed^{the saidLoanfacility fromthe applicant bank but} have not^paid the^{outstanding loan amountas per terms and conditionsas agreed} upon with the applicant^{bank, in spite of repeateddemands and request by the} applicant bank.^{As the defendants failed to repaythe outstanding amountin the loan} account, the said account^{became NPA on 31-03-202'1.After theaccountbecame} NPA the applicant bank^{issuednoticesfor repaymentof the due amount, but the} defendants failed to^{repay the loan amount or renew the loan account'}

¶32

The applicant bank^{thus became constrained to file the presentOriginal} Application for the^{recoveryof R3. 30,15,596.60 (Rupse3Thirty Lakhs Fifteen} Thousand Five^{Hundred NinetySix and Paisa Sixty) only as on 28 022022 along} with interest and cost^{ofthe application.}

¶33

After Iiling of the^{OA the Tribunal issued notices upon the defendants lhrough} registered^post and^{the applicant bank filed servicerepo( on '19 05 2022and btought} on record the^{postal receipts alongwith track consignment report which shows that} noticehasnotbeenseNeduponthedefendants.ThereaftertheTribunalordered paper publication of notice^{upon the defendants and the applicantbank issued notice} to the defendants^{on 02.08.2022throughPaper Publication in two newspapers} namely "The Eastem^{Chrcnicle"and "DainikPmntoipfEven after issuance of notice} through^{paper publication also therewas no representationon behatf of the} defendants either^{by the counselor the person and hence the defendantswere} set ex-parte^{on '19.09.2022and their right to file written statement cum evidence on}

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O.A. 1 18zo22/DRT€uwahati

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affidavit was closed and lhe matter was^posted for hearing on behalf of lhe^applicant bank.

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Supporting the claim of the applicant bank Mr. Swapan Kumar Mandal, Assistant General Manager of the Applicant Bank^{has filed} evidence^{on affidavit coupled with the} security documents marked as Exhibit -l to Exhibit^-3'1, supporting the^{claimof the} applicant bank.

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Heard the learned counsel for the applicant bank who^prayed for^{issuance of} Recovery Certificate against the defendants as^{per pleadingsmade in lhe} Application, supported by evidence^{on affidavitof theirwitness who aftirmed on oath} the execution of the security and other^{documents by the defendants and also} execution of their own documents^{relied upon, which have been marked exhibits.}

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Considering the facts and circumstances^{of the case, I am of the considered} view that lhe documents filed by^{the applicant bank are supporting the claim of the} applicant bank and^{establishing theliability of the defendants.lt is proved thai the} defendants are iointly and^{severally liable to pay to the applicant bank the claim} made in the Original^{Application. Theloan was obtained and documentshave been} executed on 24.09.20'15.^{The loan account of the defendants was reviewed from} time to time and^{the defendant No l had executeda Balance Confirmation Letter} on 24.07.23018^{acknowledgingtheir debl of Rs.24,10,8231-.The defendantNo'1} also executed a^{Demand Promissory Noteon 27.03.2020.The defendantshad} also availed the^{CFIL loan of Rs. 1,40,225l'on 03.09.2020 citing that the Covid} situation had^{affectedtheir business. The account became NPA on 31 032021} and the OA^{hasbeen filed on 25.03.2022.Hence' the OA is filed well within the} period of limitation and this^{Tribunal having a jurisdictionto adjudicate theOriginal} Application.

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Considering the^{unchallenged/unrebutted version of Mr' SwapanKumar} Mandal, the^{applicant's witness and all the documents marked as exhibits'including} duly ce ified^{copy of the statementof accountalongwith interest calculationsheet} maintained by^{the applicant Bankin it's regular couBe of business'I hold that the} applicant is^{entitled to get the Recovery Certiflcate as prayed fot} SftU S{4r4"S{4r4"

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SftU S{4r4"S{4r4" eresioins oC/cel lu DRT, Guwahali^W

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O.A. 1 18,2o22loRT€uwahati

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ln the result, the present Original Application No. 118 of 2022 is allowed with cost as under :-

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i) The defendants No. I & 2 are .iointly and severally liable to pay to the applicant bank a sum of Rs.30,15,596.60 ( Rupees Thirty Lakhs Fifteen Thousand Five Hundred Ninety Six and Paisa Sixty) only with pendentelite and future interest @12.00% p.a. with monthly rests from 01.03.2022 till the date of full paymenvrealization and also cost of the application.

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ii) The charge of the certificated amount be kept alive on mortgaged property i.e. A two storied RCC building on a plot of land measuring 5 Kathas covered by 2nd R.S.Dag No. 5 and 2nd R.S.Patta No.3 at Mouza-Kanakpur,^part-l of Pargana-Barakpar, Lane No.-15, 1"r Link Road, Silchar-788006 in the District of Cachar, Assam, as described in Schedule of the OA till the amount is realized in full.

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iii) The applicant bank is entitled lo proceed against the secured items towards recovery of the debts.

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iv) The applicant bank is also entitled to^proceed against the^personal assets and properties of the defendants towards recovery of the dues.

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v) The applicant bank is entitled to the costs of the O.A. which includes the advocate fees of the applicant bank. Applicant is directed to file the cost memo within 2 weeks from today.

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vi) lssue Recovery Certillcate accordingly for a sum^{Rs. 30,r5,595.60 ( Rupees} Thirty Lakhs Fifteen Thousand Five Hundred^{Ninety Six and PaisaSixty)} only in favour of the applicant bank against^{the defendants No. 1 & 2.}

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vii) Communicate copy^{ofthis orderto the concerned parties.} This order is dictated and corrected^{by the undersigned}

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Judgment dated^{7th August 2023, signedand pronouncedin the Tribunal today}

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under my signature.

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Copy of the JudgmenUFinal Order be uploaded in the^{Tribunal's Websiteand}

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file be consigned to Record^Room.

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\brs-|"##,*"X (Shiv Sharan D-ubdy) I- t/ Presiding Officer DRT, Guwahati.

Punjab National Bank v. Sharmistha Deb Purkayastha

Case brief

What is this about?

What did the court decide?

Punjab National Bank v. Sharmistha Deb Purkayastha

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

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Case details

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