Allowed

Punjab National Bank v. Ms Swasthik Enterprise and Ors.

DRT16 Apr 2024OA/123/2023

Case brief

AI extract

What is this about?

In an ex-parte application filed by Punjab National Bank for recovery of Rs. 53,01,902.37 along with interest and costs, the Debts Recovery Tribunal allowed the claim against the originators and subsequent borrowers who remained absent. The tribunal decreed the debt, granted future interest, imposed a bar on asset disposal, and directed issuance of a recovery certificate under RD&A Act, 1993.

What did the court decide?

Recovery of Rs. 53,01,902.37 with pendentlite and future interest at 11% p.a.; bar on disposal of assets; 30-day payment period; recovery certificate to be issued.

Punjab National Bank versus Ms Swasthik Enterprise and Ors. — Banking and Recovery | DRT (2024)

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BEFORE THE DEATS RECOVERY TRIBUNAL-III KOLKATA PRESENT: -sRI KAMAL DE

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PRESIDING OFFICER

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O.A. No. 123 of 2023

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DATE OF DELtvERy OF ORDER :16/O4/2024

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PUNJAB NATIONAL BANK, a body corpordte conslituted Lrnder the aankrng Companres (A.qurs tion and Trdnsfer of Undertnkrngs) Act, 1970, havirlg ts Hearl Offrce at Por No. .1, Secror 10, Dwarka, New Delhr,110O75 ana cJ,ry,ng on bus ness throuqh one of ts Sastra Drvrs on, Circle Olfrce, Ko kaLa South, 9," Floor, 11, Hemanta Baslt Sarani, Un ted Tower, Kolkata-700001 and aL a I .nate'at t mes t carned on and carries on Bank ng Bus ness at severa places of lnd a, havrng one ot rts branches at Baghajatrn Statron Branch, 14, SpD Block, post Offrce Baghalatrn, D stfict South 24, Kotkata 7ooofl6, common y known as BaghaJatrn Stat on Branch, here nafter referred as the^,,Appl cant Bank,,, wrthrn the luirsa ctron ot tnrs Learned Tribunal.

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Appl cant Aank

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Versus

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M/s Swasthik Enterprise, represented by its Proprietor Mrs Rupa I\4ajumder, B/10, Rabindra Pally, Btock B, potice Statron PaLuli, Kolkata 700086, Drstflct South 24 Parganas

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Smt, Rupa Maiumder, wrfe of RaJa t4alumder, residing at B/10, Rabrndra pally, Block B, Police Station patuti, Kolkata -7000a6, District South 24 parganas

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Raja Majumder, son of Late Btnod Majumder, residrng at B/10, Rablndra paly, ts ock B, Polrce Slatron patutr, Kotkata 700086, D sLnct South 24 parganas

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lui Maiumder, residtng at B/tO, Rabtndra pally, Block B, poltce Statlon patuli Kolkala -700086, District Soulh 24 Parganas

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Saswati Seal, resldtng at B/10, Rab ndra Pally, Block - B, polrce Station patlt !, Kolkata 700086, Drsrrict - South 24 Parganas,

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Sheuli Sen Roy, restd rn g at B/10, Rabrndra^paliy, Btock B, police Statron patLrti, Kolkata'700086, Drstrict South 24 Parganas

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Defendants

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CoLrnsel for the App icant Bankl

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lvls. Sarnapti Roy, Advocates

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Sel ex-parte on 28/03/2A24

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]UOGIl4EtrT

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The Applicant Bank filed the present OA be ng No. O.A. 123 of 2A23 on 2A/02/2023 for recovery of a total sum of Rs. 53,01,902.37l- (Rupees frftv three iakh one thousand nrne hundred lwo and paise thirty seven only) from the Defendants towards term loan together wrth rnterest, cost and other usual reliefs.

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The Defendants are served wlth summons. The deFendants^{drdnol appear, as LhereLr/asno} representation from the^{defendants,the case wasfixedfor ex_parte hearing on 2Bl03/2024'} and heard ex_Parte accordinglY.

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The Applicant Bank examined^{32 documenlsihroughMr' SubirPaul, Bank l4anagermarked} as ExhrbrL Annexure^{A/1 to Exhib t AnnexureA/32'}

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Heard the Ld. Counsel^{for the Applrcant 8ank.}

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The^point that arlses^{forconslderaLionls}

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is entrtled Lo^Lhe claim^{made rn lheOA aganst the Defendants} whether the Applrcant^Bank and OA schedule Properl^es as Prayed for?

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As staled supra, the^{Defendantremarnedabsentand drd not turnup to} 'ontrovert^lhe versron of the O.A. of Applicant^{Bank. The EvidenceAffdavitcoupled with ihe recita s n lhe} .lo.UmentsVz.,ExhlbrlAnnexureA/ltoAnnexUreA/32markedonbeha|foftheAppcant Bank, establrshed the^{clalm of lhe Applcant Bank againsl theDefendanLsand OA schedule} propertres. Hence, I hold that^{theDefendants are} lointly^{andseveraly liable to payto the} App icant Bank the^{claLmsmadern LheOA wrth futurernteresl and costs'}

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ln the result, the^{present Orlg nal Applicationis ailowed ex parte wrthcosts' as under:}

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O8ALB

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(1) O.A. No. 123 of^{2023filed by the Applrcant Bank is allowed and debt s delerminedwrth} cost against the^{defendanls. Itrs hereby orderedthat applrcantbank rs entitledto} recover from the^{defendantsthe tota amounlt'o lhe tune of Rs 5l'01'90237l(Rupees} rlrtythreelakhonethousandnlnehundredtwoandpaLsethrtysevenonly)Wlth pendentelrle and FLrture interest @^{11OOYo per annum interest withsimple on the} amounldUerromLhedateofFilingoFLheorqnalApp|lcalloni-e-2a/a2l2a23tlllfUlland frnal reallzal on of^{the clarm amount'}

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(2) Amount, if any,^{paid by fhe defendants in the loanaccountsor amount'if any'} recovered by the^{Applicant Bank after filing of the o A the same be taken intoaccount} while arriving at the^{exact amounlof dues/debt payableby lhedefendants'} Accordingly,^{pendenlelite and future interest shallbe calculated on the reducedamount'}

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(3) Defendants are debarred from disposing, allenattng^{or dealingwith anyof the properties} belonging to them^{till the} aforesaid decretal^{debt is recovered from the defendants'}

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(4) DeFendants are^{given a time of thrrty daysFromthe dateoF the ludgement/FinalOrder} for repaying of the above^{mentioned dues, so intrmatedto them' ln case the defendants} fail to^pay the dues^{within the above mentionedtime, the applicant bank is entitled lo} recover its dues by^{sale of securedassets, if anyApplicant bankis also entitledto}

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proceed agarnst personat properties oi the defendants (Both movable and immovable) and also proceed against the defendants persondlly to recover the dues in accordance with law.

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(s) Let the Certrfrcate of Recovery be drawn up by Ld. Regrstrar forthw th rn terms of Judgement for rssuance of the same agarnst defendants n favour ol the applrcani bank under Section 19 (22) of the Recovery of Debts and Bankruptcy Act, 199j and put up the same for rssuance of the Certificale.

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(6) Ld. Recovery Offcer sha realrze the amount as per the Recovery Certrfrcate from the defendants in accordance wlth iaw

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(1) Ld. Registrar oF thts Tribunal is drrecled to deliver recovery certrficale in term oi the final order/judgement for recovery of the sLrm against rhe defendant in favolrr ot the App rcant Bank under Sectron lg (22) of the Recovery of DebLs due to the Bank and lrnancial Instttul ons Act, 1993 now known as Recovery of Debts and Bankruptcy Act, 199 3.

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(8) The parties are direcLed to appear before thc Recovery Officet on 13/0612024 ior further actlon rn accordance wiih iaw in the event the enttre amount ts not patd by the satd date.

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Accordingly, the Original Appllcatron being O.A. No. 123 of 2023 is allowed and stands drsposed of.

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Copy of the ludgement/Finat Order be upload in the Tflbunai,s webstte.

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Frle rs consigned to the Record Room.

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(Dr.tatea ro stc.o, trans. bed by lrer, co(ected, s gfed and profoln.ed by me n the oDen Colrt on th s 16' day at ADt ), 2024 )

PRESIDING OFF lCE R

som/

Debts Recovery Tribunal-3, Kolkata Order Sheet

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( Co ntin u atio n )

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Case No. OA No. 123l2023 puniab National Bank Vs. M/s Swasthik Enterprise & Ors.

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Date of Order Order with signature

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QrLet.l!o.5 Order pronounced (vide sep.rrare sheets). Qt.)6fp412.924

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In the resLrlt, O.A. No. 123 of 2023 is allowed with costs. IssLe Pecovery Cert,frcate dccordtngty.

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I^{Kamai De} ) Pres d ng Officer DRT'3, Kolkata

Punjab National Bank v. Ms Swasthik Enterprise and Ors.

Case brief

What is this about?

What did the court decide?

Punjab National Bank v. Ms Swasthik Enterprise and Ors.

Case brief

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What did the court decide?

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