Allowed

Punjab National Bank v. Sushankar Roy

DRT6 Sept 2023OA/453/2022

Case brief

AI extract

What is this about?

The DRT allowed the bank's application under Section 19 of RERA to issue a recovery certificate for Rs 1.09 crore plus interest against a husband and wife who failed to repay overdraft and term loans, confirming their joint liability and the charge on mortgaged land.

What did the court decide?

Issue recovery certificate for Rs. 1.09 crores; enforce charge on mortgaged land; authorize recovery from secured and personal assets; award costs.

Punjab National Bank versus Sushankar Roy — Execution and Attachment | DRT (2023)

¶1

O.A. 4s3/2o2zDRT€urrahati

¶2

IN THE DEBTS RECOVERY TRIBUNAL, GUWAHATI

¶3

(North Eastern Region)

¶4

(Tribunal of Assam, Nagarand, Megharaya, Manipur, Mizoram, Arunachar pradesh & Tripura)

¶5

Before Shri Shiv Sharan Dubev. Presidinq Officer

¶6

O.A. No. 45312022

¶7

ln the matter of -

¶8

Punjab National Bank (Erctwhile United Bank of India) B.O. Meherpur, N.S.Avenue, Silchar,

¶9

District- Cachar, Assam.

"" ""Applicant

vs.

1. SushankarRoy,

Son of Late Mahendra Lal Roy House No. R24 Micheal Madhusudan Sarani, Ward No.18, Hailakandi Road, p.O. Rangirkhari, Silchar, District- Cachar, Assam, pin-7ggbO5.

¶14

Kanika Devi Roy,

¶15

Wife of Sushankar Roy

¶16

House No. R24 Micheal Madhusudan Sarani, Ward No.18, Hailakandi Road, p.O. Rangirkhari, Silchar, District- Cachar, Assam, pin-7ggb05.

¶17

Defendants

¶18

Presence of the Counsel :

¶19

For the Applicant : Sri K K Nandi, Advocate

¶20

For the Defendants : None (Ex-parte)

¶21

Dated :06/09/2023

¶22

JUDGMENT

¶23

This is an apprication under section 19 of the Recovery of Debts Due to Banks and Financial lnstitutions Act, 1993 filed by the punjab National Bank (Erstwhile United Bank of lndia), B.o. Meherpur, N.s.Avenue, silchar, District- cachar, Assam, with a prayer to issue Recovery certificate for the sum of Rs. i,09,42,243.3s (Rupees one crore Nine Lakhs Forty Two Thousands Two Hundred Forty Three and Paisa Thirty Five) only as on 30.0g.2022 against the defendants with pendentelite and future interest at the rate of I .10o/o per annum at monthly rest till realization, along with cost and other relief.

¶24

A few facts giving rise to the present application are as under.

¶25

The defendant no 1 is an individuar and a contractor who undertakes work of

¶26

'*-#"ff{'tr

¶27

O.A 453/2022lDRT-Guwahati

¶28

govt and other bodies. The defendant nos 1 and 2 availed credit facilities from the applicant bank. The defendant no. 2 is the wife ofdefendant no 1. The defendant nos 1 and 2 approached the applicant bank for financial assistance for the purpose of contractor business. The applicant bank upon consideration of prayer so made sanctioned Over Draft facility of Rs.16,00,000.00 lacs vide Sanction Letter dated 08.12.2014.. The defendant nos.1 and 2 accepted the terms and conditions of the Sanction Letter and as a token of acceptance of the same the defendant nos 1 and 2 have signed in the sanction letter dated 08.12.20'14 of having accepted the terms and conditions. lt was also the terms and conditions of the sanction letter that the effective rate of interest will be base rate + 1.5o/o that is 11.75 % per annum with monthly rests subject to changes as per bank guidelines.

¶29

The defendant nos 1 and 2 availed of the Over Draft facility from the applicant bank and the defendants have executed the following documents duly filled-up in favour of the applicant bank.

¶30

(a) Letter of Lien dated 08.12.2014.

¶31

(b) Demand Promissory Note dated 08J22014 for Rs 16,00,000.00.

¶32

¶33

(d) Agreement under Mortgage Loan Scheme dated 08.12.2014.

¶34

(e) Consent clause.

¶35

ln respect of the Over draft facility availed by the defendant nos 1 and 2 from the applicant bank, the defendant nos 1 and 2 confirmed and acknowledged the balance in the over draft account as on 13.02.2011 on 14.02.2012, as on 17 .02.2020 on 17 .02.2020.

¶36

The defendant nos 1 and 2 have made payment in the over draft account on 13.07.2017, 25.07.2017, 28.08.2017, 01.09.2017, 14.08.2018, 27.02.2019, 02.12.2019 besides on other dates reflected in the statement of account. The defendants by making payment in the overdraft account no 03132103123g4 have confirmed, acknowledged and admitted their liability in respect of the said account on the date of making payment in the over d raft account.

¶37

The defendant no. 1 availed of the over draft facility from the applicant bank and as a security for repayment of the said over draft facity the defendant no. 1 created equitable mortgage of land measuring^g katha 7 chatak under dag no 402

¶38

s[i,l Presiding DRT,

¶39

3 6.A. 453/2022lDRT€uwahati

¶40

of 2nd RS patta no 167 situated at pargana Barakpur ps and p o Rangirkhari, silchar Mouza Ambikapur part 9 District cachar Assam by deposit of tifle deeds with the appricant bank. The defendant no 1 deposited with the appricant bank, tifle deeds such as sare Deed no. 2763 ot 2014. The defendant no 1 executed retter dated 08.12.2014 confirming deposit of tifle deeds with the appricant bank with the intention of creating equitabre mortgage. The property mortgaged/created charge by the defendant no 1 with the appricant bank as a security for repayment of roan avaired by the defendants is more specificaly described in Schedure_A of the oA.

¶41

The defendant nos 1 and 2 approached the appricant bank for housing roan for the purpose of construction of house by submitting an apprication dated 28.07.2017. The appricant bank on consideration of the said apprication ctated 2807.2017 sanctioned term roan of Rs g0,06,4gg.00 to the defendant nos 1 and 2 vide sanction retter dated 31.0g.2017. The defendant nos 1 and 2 accepted the terms and conditions.of the sanction retter dated 31.0g.2017 and as a token of acceptance of the same have signed in the sanction letter dated 31.0g.2017. lt was also the terms and conditions of the sanction letter that the effective rate of interest wirr be MCLR 9.55^0/o per annum with monthry rests subject to change as per bank guidelines. The defendants accepted the terms and conditions of the sanction Lefter and as a token of acceptance of the same the defendants have signed in the sanction retter dated 31.09.2017 0f having accepted the terms and conditions. The defendants agreed to repay the term roan in monthry instarments of Rs 70775.00 commencing from September 2019.

¶42

The defendant nos. 1 and 2 avaired of the term roan from the appricant bank and have executed the foilowing documents dury fifled-up in favour of the appricant bank:-

¶43

(a) Letter of Lien dated 31 .OB.2O1T.

¶44

(b) Agreement under United Housing Loan dated S,l.OB.2O17

¶45

¶46

The defendants avaired of the term roan facirity from the appricant bank and as a security for repayment of the said term roan facirity roan defendant no. t have

¶47

**reP9'? DRT, Guwahati

¶48

O.A. 453/2022lDRT-Guwahati

¶49

created equitable mortgage of land by deposit of title deeds^{with the applicant} bank. That the defendant no 1 created mortgage of^{land measuring9 kathas7} chatak under dag no 402 ol 2 RS^patta no 167 situated at^pargana Barakpur^PS and PO Rangirkhari, Silchar Mouza Ambikapur Part 9 District Cachar^{Assam. The} defendant no t has executed confirmation letter by which the he confirmed to have deposited title deeds with the applicant bank with the intention to create an equitable mortgage in favour of the applicant bank. The^property mortgaged/created charge by the defendant no 1 with the applicant bank as a security for repayment of loan availed by the defendants is^more specifically described in Schedule-A of the OA.

¶50

ln respect of the Term loan facility availed by the defendant nos^'l and 2 from the applicant bank, the defendant nos 1 and 2 confirmed and acknowledged the balance in the term loan account as on 17.02.2020 on 17.02.2020.

¶51

The defendants had availed the credit facilities from the applicant bank^but have not paid the outstanding amount as^per terms and condition^{made withthe} applicant bank in spite of repeated demands and request by the applicant^bank.As the loan accounts of defendant no.¹ was running extremely^{irregularand due to non-} payment of principal amount and interest, the said accounts were classified as a NPA on 10.05.202'l . After the accounts became NPA the applicant bank^{issued notices for} repayment of the due amount, but the defendants have neither chosen^{for repayment} of the loan accounts nor renewed the loan accounts availed by them.

¶52

The applicant bank thus became constrained to file the^present Original Application for the recovery of Rs.^{'1,09,42,243.35(Rupees} One^{Grore Nine !.akhs} Forty Two Thousands Two Hundred Forty Three and Paisa^{Thirty Five) only as} on 30.09.2022 along with interest and cost^of the application.

¶53

After filing of the OA the Tribunal issued notices upon the^{defendants through} registered post and the applicant bank filed service report on 08-Q2-2023^{and brought} on record the^postal receipts along with track^{consignment report which shows that} notices have not been served upon the defendants.^{Thereafterthe Tribunalordered} paper publication of notice upon the defendants and the applicant bank issued notice

¶54

*,"ffiBx

¶55

DRT. Guwahati

¶56

O.A. 453/2022lDRT-Guwahati

¶57

to the defendants on 18.02.2023 through Paper Publication in four newspapers namely "Prantajyoti' and "Eastem Cronicle'. Even after issuance of notice through paper publication also there was no representation on behalf of the defendants either by the counsel or the person and hence the defendants were set ex-parte on 11-05-2023 and their right to file written statement cum evidence on affidavit was closed and the matter was posted for hearing on behalf of the applicant bank.

¶58

Supporting the claim of the applicant bank Smti Anjana Das, Chief Manager of the Applicant Bank has filed evidence on affidavit coupled with the security documents marked as Exhibit A-1 to A-25, supporting the claim of the applicant bank.

¶59

Heard the learned counsel for the applicant bank who prayed for issuance of Recovery Certificate against the defendants as per pleadings made in the Application, supported by evidence on affidavit of their witness who affirmed 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. Considering the facts and circumstances of the case, I am of the considered view that the documents filed by the applicant bank are supporting the claim of the applicant bank and establishing the liability of the defendants. lt is proved that the defendants are^jointly and severally liable to pay to the applicant bank the claim made in the Original Application. The loan was obtained and documents have been executed on 08.12.2014 &31.08.2017. The defendant nos 1 and 2 confirmed and acknowledged the balance in the over draft account as on 13.02.2017 on 14.02.2017, as on 17.02.2020 on 17.02.2020. The defendant nos 1 and 2 have made payment in the over draft account on 13.07.2017, 25.07.2017, 28.082017, 01.0g.2017, 14.08.2018, 27.02.2019, 02.12.2019 besides on other dates reflected in the statement of account. The account became NPA on 10.05.2021 and the OA has been filed on '14.11.2022. Hence, the OA is filed well within the period of limitation and this Tribunal having a^jurisdiction to adjudicate the Original Application.

¶60

Considering the unchallenged/unrebutted version of Smti Anjana Das, the applicant's witness and all the documents marked as exhibits, including duly certified copy of the three statement of accounts along with interest calculation sheet

¶61

sl^d.i*{ffiw Presiding Offcel^'- DRT, Guwahati

¶62

¶63

0.A.^{i15312022/DRT-Guwrhati}

¶64

maintained by the applicant Bank in it's regular course of business, I hold that the applicant is entitled to get the Recovery Certificate as prayed for.

¶65

ln the result, the present Original Application No. 453 ol 2O22 is allowed with cost as under :-

¶66

i) The defendants No. 1 & 2 are jointly and severally liable to pay to the applicant bank a sum of Rs. 1,09,42,243.35 (Rupees One Crore Nine Lakhs Forty Two Thousands Two Hundred Forty Three and^paisa Thirty Five) only with pendentelite and future interest @7.10Vo p.a. with monthly rests from 01.'10.2022 till the date of full paymenUrealization and also cost of the application.

¶67

ii) The charge of the certificated amount be kept alive on mortgaged property i.e. all that part and parcel of land measuring 9 katha and 7 chatak with structures standing thereon covered under Dag No. 402 of 2nd R.S.patta No. 167 of Pargana- Barakpar, Mouza- Ambikapur Part 9, Sub Registrar Officer Silchar, PO and PS Rangirkhari, Micheal Madhusudhan Sarani, Silchar, District Cachar, Assam and is bounded and butted by North : Land of Dwijesh Nandi; South: Micheal Madhusudan Sarani; East: Sri Jagabandhu Sarkar; West: Manmoth Lal Deb, as described in Schedule-A of the OA till the amount is realized in full.

¶68

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

¶69

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

¶70

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.

¶71

vi) lssue Recovery Certificate accordingly for a sum Rs. 1,09,42,243.35 (Rupees One Crore Nine Lakhs Forty Two Thousands Two Hundred Forty Three and Paisa Thirty Five) only in favour of the applicant bank againstthe defendants No. 1 & 2.

¶72

*,:6ffiry DRT, Guwahati

¶73

¶74

o.A.^{,lsr2o2zDRT.Guwehetl}

¶75

vii) Communicate copy of this order to the concemed^parties.

¶76

This order is dictated and corrected by the undersigned.

¶77

Judgment dated 6th September' 2023, signed and^pronounced in the Tribunal today under my signature.

¶78

Copy of the JudgmenUFinal Order be uploaded in the Tribunal's Website and file be consigned to Record Room.

¶79

(Shiv Sharan Y'*ffiArg?'Dutley)tPresiding Officer DRT, Guwahati.

¶80

II-I

Punjab National Bank v. Sushankar Roy

Case brief

What is this about?

What did the court decide?

Punjab National Bank v. Sushankar Roy

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

Coram

Case details

Similar cases

Icici Bank Limited versus Bhaskar

Punjab National Bank versus Sh. Swaran Singh

Mr Shabeer Sheik Abdulla versus Canara Bank

Bank of India versus M/S. Kavitha Constructions

Hdfc Bank Ltd. versus Sai Sravan Health Care Private Limited

Canara Bank versus Raghavan Naik Karamthod