Debt Recovery Tribunal allowed the applicant bank's claim for recovery of Rs. 24,70,452.95 plus interest against the respondent borrower and guarantors, declaring the claim secured by hypothecation and mortgage.
Decree for recovery of Rs. 24,70,452.95 with 14% interest; joint and several liability of defendants; issue of recovery certificate.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
BEFORE THE DEBTS RECOVERY TRIBUNAL-I KOLKATA
PRESENT: -SHRI AMBUJA MOHAN DAS PRESIDING OFFICER
O.A. No. 500 of 2022
DATE OF DELIVERY OF ORDER : 29th November,2023
Union Bank of India , a body corporate constituted under the Banking Companies (Acquisition and Transfer of Undertakings) Act 1970, and having its Head Office at 239, Vidhan Bhavan Marg, Nariman Point, Mumbai – 400021, Maharashtra, and carrying on business through its different branches amongst other places including at its Asset Recovery Management Branch, 14/1B, New Ezra Street, Kolkata – 700001, Police station – Hare Street, West Bengal and also at Dharamtala Branch, 5, Chowringhee Place, Kolkata – 700013, West Bengal, under Police Station, - New Market, West Bengal, commonly known as Union Bank of India, ARMB Branch, Kolkata, West Bengal.
..............APPLICANT
Proprietorship business of Sri Baunty Kumar Shaw, having its registered office at 6, Girish Chandra Bose Road, Kolkata – 700014.
Son of Sri Jai Narayan Shaw, Proprietor of M/s. Jay Narayan Shaw & Co., having its principal place of office and residence 6, Girish Chandra Bose Road, Kolkta – 700014, West Bengal, and also at 65A, Dr. Suresh Sarkar Road, Kolkata 70014, West Bengal.
Son of Sri Jai Narayan Shaw, being as guarantor, having its principal place of office at 6, Girish Chandra Bose Road, Kolkata – 700014, West Bengal, and also at residence 65A, Dr. Suresh Sarkar Road, Kolkata 70014, West Bengal.
................DEFENDANTS
Counsel for the Applicant Bank : Ms. Smruti Rekha Mishra.
Counsel for the Defendants : None appears.
Set ex-parte on 26.9.2023.
J U D G M E N T
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including from its Branch Office at its Asset Recovery Management Branch, 14/1B, New Ezra Street, Kolkata – 700001, Police station – Hare Street, West Bengal and also at Dharamtala Branch, 5, Chowringhee Place, Kolkata – 700013, West Bengal, under Police Station, - New Market, West Bengal, commonly known as Union Bank of India, ARMB Branch, Kolkata, West Bengal, for recovery of Rs.24,70,452.95P., with interest @14 %, with monthly rest from 1.7.2022 against the Defendants till payment and/or realization. The Defendants are the borrower/guarantor/mortgager.
In the above circumstances it is ordered :
O R D E R
i) Claim of the Applicants is allowed with cost. ii) The Defendants are jointly and severally liable to pay Rs.24,70,452.95P., with interest @14 %, with monthly rest from 1.7.2022 against the Defendants till payment and/or realization.
v) Ld. Recovery Officer shall realize the amount as per the
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Recovery Certificate from the defendants in accordance with law.
Accordingly, the Original Application being O.A. No. 500 of 2022 is allowed and stands disposed of. All the IAs, filed in connection with this OA, are also disposed of.
Copy of the Judgment/Final Order be uploaded in the Tribunal’s website.
File is consigned to the Record Room.
(Dictated to P.S., transcribed by her, corrected, signed and pronounced by me in the open Court on this the day 29th November,2023)
Place : Kolkata ( Ambuja Mohan Das ) Date : 29th November,2023 Presiding Officer
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| Page No.- | Order Sheet(continuation) | |
|---|---|---|
| Case No. OA 5 | 00/2022 Un |
ion Bank of India –vs- M/s. Jay Narayan Shaw & Co. & Ors. |
| Date of the order |
Order with signature Office action with date and dated signature of parties when necessary |
|
| 29/11/2023 | Ld. Advo Applicant Bank. None is p Matter wa The detail of the order is as |
cate, Ms. Smruti Rekha Mishra, appeared for the resent on behalf of the Defendants. s heard in open Court on this the day of 26.9.2023. ed order in three pages annexed separately. The gist follows: |
| i) | O R D E R Claim of the Applicants is allowed with cost. |
|
| ii) | The Defendants are jointly and severally liable to pay Rs.24,70,452.95P., with interest @14 %, with monthly rest from 1.7.2022 against the Defendants till payment and/or realization. |
|
| iii) | It is declared that the claim is secured by hypothecation of moveable and mortgage of immoveable property described in the Schedule of immoveable property as described in the Schedule ‘X-1’ in the OA at page 30. |
|
| iv) | Let, a certificate be issued accordingly. | |
| v) vi) |
Ld. Recovery Officer shall realize the amount as per the Recovery Certificate from the defendants in accordance with law. Ld. Registrar of this Tribunal is directed to deliver recovery certificate in term of the final order/judgment for recovery of the sum against the defendants in favour of the Applicant Bank under Section 19 (22) of the Recovery of Debts due to the Bank and Financial Institutions Act, 1993 now known as Recovery of Debts and Bankruptcy Act, 1993. |
|
| vii) 500 of filed in |
The parties are directed to appear before the Recovery Officer on 09/01/2024 for further action in accordance with law in the event the entire amount is not paid by the said date. Accordingly, the Original Application being O.A. No. 2022 is allowed and stands disposed of. All the IAs, connection with this OA, are also disposed of. Copy of the Judgment/Final Order be uploaded in the |
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Tribunal’s website.
File is consigned to the Record Room. (Dictated to P.S., transcribed by her, corrected, signed and pronounced by me in the open Court on this the day 29th November,2023) Place : Kolkata (Ambuja Mohan Das) Date : 29/11/2023 Presiding Officer
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1 issue framed by the court
Whether the recovery claim filed by the bank against the borrower and guarantor is valid and within jurisdiction?
1 provisions across 1 enactments
Union Bank of India
M/s. Jay Narayan Shaw and Co.
Sri Baunty Kumar Shaw
Sri Genty Shaw
Ambuja Mohan Das
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
