Allowed

The Federal Bank Ltd. v. Ms Arhav Ride Surreal and Ors.

DRT26 Apr 2024OA/118/2023

Case brief

AI extract

What is this about?

One-recovery order allowed the Applicant Bank's ex parte application to recover a loan of Rs 32,03,493.07 from defaulting respondents. The Tribunal directed issuance of a Recovery Certificate under RDBA, 1993 and restrained disposal of assets. No recovery was attempted by the respondents.

What did the court decide?

Allowed ex parte OA for recovery of Rs 32,03,493.07 with interest; issued Recovery Certificate under Section 19(22) RDBA, 1993; restrained asset disposal; granted time for payment before execution.

The Federal Bank Ltd. versus Ms Arhav Ride Surreal and Ors. — Banking and Recovery | DRT (2024)

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BEFORE THE DEBTS RECOVERY^{TRIBUNAL-IIIKOLKATA}

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PRESENT: - SRI KAMAL^OE.

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PRESIDING OFFICER

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O.A. No. 118 of 2023

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DATE OF DELIVERY OF ORDER "

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261O4/2024

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The Federal Bank^{Limited, a bankrnq company rncorporaledunder the provrslons} of Companies Act, 1955^{and a Banking Company within the meaninqof theBankrnq} Regulations Act, 1949^{havingits Registered Officeat Alwaye n Keraa and carryrng} on business inter alra^{at 1/D, Mandevlle Gardens, Pollce SLationGarrahat,KolkaLa} 700019, commonly^{knownas its Ballygunge Branch,hereinafter referred as the} "Applicant Bank", within the^{jurisdictlon of thrsLearnedTribunal'}

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Applicanl Bank

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Versus

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M/s Arhav Ride^{Surreal, a partnershp frrm reg slered under the Partnersh p} Act, 1882 having^{its reg steredolfrce aL 10 CS 2, Shahd Colony, Panrhal} '^{P S} Khardah, North 24^{Patgaoas, Kolkata'700114}

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Anirban Roy, son^{of Lale Baidyanath Roy, res drngat KrrshnaPa ace'F atNo} 48,4'h Floor, S^{ShahrdColony, P.O. Panhatr,Kolkata700114,PS' Sodepur'} D str ct Norlh^{24 Patgaras}

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Lavanya Rawal^{Roy,wlfe ofSrr An rbanRoy,carry ng on busrness n} partnership under the name^{and style of l'4ls ArhavRide Surrea} '^{res d nq at} Kriqhna Palace. Flat No.^{48, 4"' Floor,8 ShahidColony, P O Panrhatr,Ko kata} 700114, P.S. Sodepur,^{D strictNorlh 24 Parganas}

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Anima Roy,^{wife of Lale BardyanathRoy, carryrng on busLncssrn partnershp} Llnder the name^{and styleof lY/s Arhav R de SLrrreal,resrdlngal Kr shnaPaLace'} Flat No. 48. 4h Floor,^{8 Shahid Colony, P.O'PanrhaLl,Kolkata 700114' P S'} SodepL-. D^{\tr (l\orlh 24 od'gd'rd'}

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Defendanls

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CoLrnsel for^{the APP|rcantBanki}

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Aparajrta Rao,^Advocate

Set ex-Parte^on

2610412024

]U!qEIYEI{T

The Applrcant^{Bank flledthe presenLOA berng No'} o.A.l11Al2023 on 22/0212023^fot recovery of a^{total sum of Rs 32,03,493 07l (Rupees} tharty two lakhs three thousand^four hundred ninety^{three and paise seven onLy) from} the Defendants towards term^loan together with^{rnterest, cost andother usLlalreliefs'}

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The Defendants are served wlth Summons,^{The defendantsdld not appear, as lhere !\rasno} representation from the defendants,^{the case was fixedforex_parte hearLngon 19/O1/2024,} and heard ex_Parte accordrnglY

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The Applicant Bank exam^{ned 27 documenlsthrouqh14r' MoharnmadFd z Ahmad,Assrstant} Vice Presdent & Branch^{Headand marked as ExhLbrl Annexure-A/1lo ExhrlrltAnnexure} A/21 .

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Heard the Ld. Counsel^{for the ApplicantBank.}

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The^point that arises^for consideratlon^rsl

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whether the Applrcant Bank^{is entitledro the clalm made in the OA agarnst rhe Defendants} and OA schedule^{properLiesas prayed[or?}

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As stated supra, Lhe Defendant^{remarnedabsentandd d nol Lurn up to corrLrovertlhc} version of the O.A. of Applicant^{Bank The EvldenceAffldavrtcouped wlth the rP'rtas n the} documentsViz',ExhlbltsAnnexureA/lloAnnexureA/2TmarkedonbehafoflheApplicanl Bank, establrshed the^{clarm of the ApplrcanlBankaqarnst theDeFendantsan'j OA s'hedule} propertres. Hence, I hold thal the Defendants^are lo^{nlly and severallylable lo pay to the} Appllcant Bank the claims^{made in the OA wlth futurernterest and costs'}

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ln the result, the^{present Oag nal Appllcatlonls a owedex parte wrthcosts'l as underl}

OBQER

(1)

(2)

o.A. No./118/2023^{filed by the Applicant Bankrs al owed and deblrs determrnedw lh cost} aqarnsL the defendanls^{lt rs hereby orderedlhat applrcantbank rs ent t ed io recover from} the detendanLs the^{lota amounlto the tune of Rt' 32,A3,493'Of/(Rupees Lhrrtytwo lakhs} threethousandfourhUndredninelythreeandpalsesevenonly)Withpendenteliteand future rnterest Col^{1100o/oper annumrnLereslwrthsmpe on the amount due from lhe} dale of frlrng^{of the Orlginal Applicatron t-e- 22/0212A23irltuL and frnalrealrralon of the} clalm amount-

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Amount, if any,^paid by^{the defendants1n the loan accounts or amount' rf any' recoveredby} the App rcant Bank^{afterFrl ng of the O A' the same be laken intoaccount whrle arrrvrnqat} theexactamountofdues/deblpayablebythedefendanls,Accordlng]y,pendenteteand future interest shall^{be calculated on lhe reducedamount'}

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(3) Defendants are^debarred from disposrnq, alienating^{or dealingwith any of thepropertles} aforesaid decreLal^{debLls recovered from the defendants'}

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belong ng^Lo them^{till the}

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(4) Deiendants are^{qrven a trme of thirtydaysfrom lhe daleof Lhe ludqement/F nal order lor} repaying ofthe^{above meniloned dues, so rntimatedlo them ln caseihe deFendanLs farl to} pay the dues withrn the above^{mentionedbme, the applrcantbank s entitledto recover ts} dues by sale of^{secured assels,lf anyAppllcantbanks a so ent t ed to pr'rceedaqa nsl} persona properles of the^{delendants(Both mov'lble and Lmmovable)afd aso proceed} against the defendants^{personallyto recover the duesrn accordancewrth law'}

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(s) Let the Certrficate of Recovery be drawn up by Ld. Regrstrar forthwLth in terms of .ludgement for rssuance oF the sarre aga nsL defendants in favour of the applrcant bank under SecLon 19 (22) of the Recovery of Debts and Bankruptcy Act, 1993 and^put up the same for rssuance of the Certrficale.

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{6) Ld. Recovery Offrcer shali real ze the amount as^per lhe Recovery Certfcate^from the defendants rn accordance wrth law.

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\7) Ld. Reg strar of Lhis TrLbunal rs d recled Lo delrver recovery certLficale^{rn lerm of the frna} order/judgement for recovery of the sum agarnst the defendani in^{favourof theApplrcant} Bank under Secton 19⁽²²⁾ of the Recovery of Debls^due to^{the Bank and Frnancal} Instrtutions AcL, 1993 now known as Recovery of Debts and^{BankruptcyAct, 1991.}

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(B) The parties are directed to appear before the Recovery Ofiicer^{on 21/0612024 for further} action in accordance with law in lhe event^{the entire amount is not paid by lhesaiddate.}

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Accordrng y, lhe Origrnal Applicatron be ng O.A No.^{118 of 2023s a lowedands[ands} drsposed of.

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Copy of the ludgement/Final Order be up oad^{n the Tribunal'swebsrte.} Fr e rs consigned to the Record Room

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(orctated to steno, transcnbed by him, corecied,^{s gned and} Pronounced by me rn the open Court^{onth s} 26,i day of Aprit, 2024)

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( KAr.lAL DE ) PRESIDING OFFICER

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Debts RecoverY^{Tribunal-3, Kolkata} Order Sheet (Continuation )

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fhe Federal^{BankLimitedVs M/s Arhav ride surreal&} crs ':'r:::::',.[r order^{with sisnature} ' 1l"j;'"""::l;'j:i:' Order^{No. 5} Order^{pronounced(vrdesepardte sheels)} Df2-6t9412024 ln the result'^{O'A' No' 118 of 2023 '5 allowedwrth costs'ISsue} Recovery^{CerlrfrcateaccordLngy} ' ( Kamal De ) Presidrng^Officer DRT-3,^Kolkala I I l I I I I l L I

The Federal Bank Ltd. v. Ms Arhav Ride Surreal and Ors.

Case brief

What is this about?

What did the court decide?

The Federal Bank Ltd. v. Ms Arhav Ride Surreal and Ors.

Case brief

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What did the court decide?

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