The DRT allowed the applicant's application under Section 19 RDDBFI Act to issue a Recovery Certificate for Rs. 42,66,698.37. The court held the defendants jointly and severally liable for the loan and mortgage dues.
Issue Recovery Certificate for Rs. 42,66,698.37 with interest and costs; declare defendants jointly and severally liable.
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O.A. 4742022loRT-Gw.hali
IN THE DEBTS RECOVERY TRIBUNAL, GUWAHATI
(North Eastern Region)
(Tnbunal of Assam, Nagaland, Meghalaya. Manipur, Mizoram, Arunachal Pradesh & Tripura)
Before Shri Shiv Sharan Dubev. Presidino Officer
O.A- No. 47412022
ln the matter of -
PUNJAB NATIONAL BANK (Erstwhile United Bank of lndia) Nagatilla Point Branch, Dewan Mansion, Sonai Road, Silchar, District- Cachar, Assam, PIN-788006.
Applicant
, MR JYOTIRMOY DEB S/o Late Ramani Mohan Deb C/o Pramodhini Das, Vill & P.O.- Bhagatpur, District Cachar-788006.
Defendants
Pressnc€ of the counsel:
For the Applicant Mr. Anil Bharali, Mr Kailash Barman, Mr. Sajal Kumar Singha, Advocates For the Defendant No.1 Mr. Rajib Kumar Nath, Mr. Debasish Doley, Advocates (Right to file WS cum EA closed) For the Defendant No.2 None (Ex-parte)
Dated :1511212023
JUOGMENT
This is an application 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), Nagatilla Point Branch, Dewan tulansion, Sonai Road, Silchar, District- Cachar, Assam, PIN-788006, with aprayer to issue Recovery Certificate for
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the sum of Rs.42,66,698.37 (Rupees Fody-Two Lakhs Sixty-Six Thousand Six
Hundred Ninety-Eight and Paise Thirty-Seven) only as on 31.08.2022 against the defendants with pendentelite and future inlerest thereon at the contractual rate till realizatjon along with cost and other relief.
A few facts giving rise to thepresent application are as under.
The defendant No- 1 approached the applicant bank with a loan application dtd 10.07.2012 and the competent authority of the applicant bank has approved, Sanction of Cash Credit Limit of Rs 20.00 Lakhs(Rupees Twenty Lakh) only vide sanction letter daled 27.07.20'12. The defendant 1 also accepted all the terms & conditions of the sanction letter dated 27.O7 .2012. The applicants beg to state that as per the sanction letter, the applicable rate of interest was 13.95%per annum with monthly rest and repayment of loan together with interest shall be repaid in l2 months or on demand. The same loan was sanctioned against the(a) Primary Security:-Hypothecation of stock offertilizer &pesticides, Hypothecationof Debts & moveable assets worth Rs.27,00,000/-(b) Collateral: Equitablemortgage oflanded property under Dag No-143, 2nd R.S.Patta No40, measuring 2 Katha, I Chattaks of land with single storied RCC building is situated at Mahaprabhu Sarani, Kanakpur Road, P.O. Rangirkhari, Silchar-788006 standing in the name of Sri Jyotirmoy Oeb S/o Late RamaniMohan Deb backed byhis personalguarantee valued Rs16.55 Lacs. And Lien of Bank's ownTDR ofRs.3.00Lacs,
ln terms of the sanction letter dated. 27.O7.2012 the following documents
are executed by the defendant no-1 to avail the loan of Rs. 20.00 Lakh only:-
The defendant no.2 deposited theequitable mortgage inrespect
of properties mentioned in the schedule of theOA by way of a registered sale deed
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dated 10.07.'1995 vide deed no. 1495/1683 of land measuring 2 Katha I Chataks 10 Gonda covered by Dag No-143,2nd R.S.Patla No-40 pargona: Barakpud, Mouza Kanakpur Part-llwith single storied RCC building is situated at Mahaprabhu Sarani, P.O. Rangirkhari, Silchar-788006, Assam.
ln continuation of the said loan the defendant No-1 executed the Balance Confirmation Letlet on 24.07.2015, Balance confirmation Letter dated'l.8.O7 .201.8 by contirming the debit balance of Rs. 17,44,580.37 as on 24.07.2015 and Rs. 17,1'1,580.37 as on 18.07.2018 respectively vide Loan A/c No'1623250004688 and Oemand Promissory Note dated 05.12.2020 an amount of Rs.20.00 Lacs.
The defendanls had availed the said loan facility from the applicant bank but have notpaid the outstanding loan amount asper terms and conditions as agreed upon with the applicant bank, in spite of repeated demands and request by the applicant bank. As the defendants failed to repay lhe loan amount, the said loan accounts becrme NPA on 30.09.2013. However, the defendant No-1 executed Balance Confirmation Letter dated 24.07.2015, Balance confirmation Letter dated 18.07.2018 by confirming the debit balance of Rs. 17,,14,580.37 as on 24.07.2015 and Rs.17,11,580.37 as on 18.07.2018 respectively vide Loan A,/c No 1623250004688 and Demand Promissory Note dated 05.12.2020 an amount of Rs.20.00 Lacs. After the account became NPA the applicant bank issued notices for repayment of the due amount, but the defendants failed to repay the loan amount.
The applicant bank thus became consttained to Iile thepresent Original Application for the recovery of Rs. 42,66,698.37 (Rupees Forty-Two Lakhs Sixty-Six Thousand Six Hundred Ninety-Eight and Paise Thirty-Seven) only as on 31.08.2022 along with interest and cost ofthe application.
After filing of the OA the Tribunal issued notices upon the defendants through registered post and the applicant bank filed servic€ report on 23.01.2023 and brought on record the postal receipts along with track consignment report which shows that notice has been served upon the defendant No.1 and notice has not been served upon the defendant No.2. The learned counsel for defendant No.1 had appeared on
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the same day i.e. on 23.01.2023 and sought time for tiling written statement cum evidence on affidavit. Thereafter, the case was listed on several occasion, but the written statement cum evidence on affidavit has not been filed by the defendant No.1. Hence, the dght of the defendant No.'l to lile written statement cum evidence on aflidavit was closed on 11.04.2023. lt is observed from the record that so far defendant No. 2 is concerned, the Tribunal ordered paper publication of notice upon the defendant No.2 and the applicant bank issued notice to the defendant No.2 on 28.01.2023 through Paper Publication in two newspapers namely "pnntajyoti Dainik" and"Eastern Chrcnicle". Even after issuance of notice through paper publicaiion also there was no representation on behalf of the defendant No.2 either by the counsel or the person and hence the defendant No.2 was set ex-parte on 11-04-2023 and his right to file written stalement cum evidence on affidavit was closed and the matter was listed for hearing on behalf of the applicant bank.
Supporting the claim of the applicant bank Sri Anjana Das, Chief Manager of the Applicant Bank has filed evidence on affidavil coupled with the security documents marked as Exhibit AW- l to AW-22 supporting the claim of the applicant bank.
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 circumslances of the case, I am of the considered view that the document filed by the applicant bank are suppoding the claim of the applicant bank and establishing the liability of the defendants. lt is proved that the defendants arejointly and severally liable to pay to the applicant bank the claim made in the Original Application. The loan was obtained and documents have been execuled on27.07.2012. The defendant No-1 executed Balance Confirmation Letter daled 24.07.2015, Balance confirmation Letter dated 18.07.2018 by confirming the debit balance of Rs.17,44,580.37 as on 24.07.2015 and Rs.17,11,58037.ason .
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O.A 47rtl2o2zoRT'Gwahan
'18.07.2018 respectively vide Loan A./c No 1623250004688 and Demand Promissory Note dated 05.12.2020 an amount of Rs.20-00 Lacs, Moreover, after perusing the documents on record and taking into consideration of the facts and circumstiances of the case, I find that the mortgage has been createdby the defendant No. 2 where the limitation available is for 12years and as suchtakinginto account of the creation of the mortgage ihe applicationappearsto have been filed well withinthe period of limitation. The account becameNPA on 30.09.2013and the OA has been filed on 01.12.2022. Hence, the OA is filed wellwithinthe periodof limitation and this Tribunal having ajurisdiction to adjudicatethe Original Application.
Considering the unchallenged/unrebuttedversion of SriAnjana Das, the applicant's witness and all thedocuments marked as exhibits, including duly certified copy of the statement of accountalongwithinterestcalculation sheet maintainedby the applicant Bank in it's regularcourse of business, I hold that the applicantis entitled to get the Recovery Certificate asprayed for.
ln the result, thepresent Original Application No.474 ol2022 is allowed with cost as under:-
Sl-u a9,1r, u PEskji.s Ofittr II ORT, Guwah.li
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O.A. 474l2022lDRl€urahati
Copy of the JudgmenuFinal Orderbe uploaded in the Tribunal's Websiteand file be consigned to RecordRoom.
O,L,r.n -cl-rr+rft (Shiv Sharan DJEg!l4b\t Prasiding Officer DRT, Guwahati.
1 issue framed by the court
Whether the documents filed by the applicant bank establish the liability of the defendants to repay the outstanding loan amount?
1 provisions across 1 enactments
Punjab National Bank (Erstwhile United Bank of India), Nagatilla Point Branch, Silchar
Mr Shekhar Das
Mr Jyotirmoy Deb
Shiv Sharan Duba
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
