Debts Recovery Tribunal allowed Punjab National Bank's application for recovery of Rs. 7.82 crore plus interest against M/s Bella & Brat and others declared ex-par te after defaulting on loan secured by mortgage and hypothecation.
Recovery certificate issued in favour of Punjab National Bank for Rs. 7,82,29,654.41 plus interest at 15.25% p.a.
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. 136 OF 2022
DATE OF DELIVERY OF ORDER :21st August 2024
Punjab National Bank , a body corporate, constituted under the Banking Companies (Acquisition and Transfer of Undertakings) Act 1970, having its Head Office at Plot No.-4, Sector-10, Dwarka, New Delhi-110075 through its Branch Office at “PNB HOUSE”, 18A, Brabourne Road, Kolkata-700001 commonly known as Brabourne Road Branch.
..............APPLICANT
................DEFENDANTS
Counsel for the Applicant Bank: - Mr. Onkar Ganguly
Ms. Mousumi Ganguly, Ld. Counsels
Counsel for the Defendants:- Set ex-parte on 05.07.2024
J U D G M E N T
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O R D E R
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Recovery of Debts due to the Bank and Financial Institutions Act, 1993 now known as Recovery of Debts and Bankruptcy Act, 1993.
Accordingly, the Original Application being O.A. No. 136 of 2022 is allowed and stands disposed of. All the IAs, if any, 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 Stenographer, transcribed by her, corrected, signed and pronounced by me in the open Court on this the day 21st August, 2024)
Place: Kolkata (Ambuja Mohan Das ) Date: 21st August 2024 Presiding Officer
Page No.- Order Sheet (continuation) Case No. OA/136/2022 Punjab National Bank vs M/s Bella & Brat & Ors. Office action with Date of Order with signature date and dated the order signatureof parties when necessary
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| 21st | Ld. Advocate Ms. Mousumi Ganguly appeared for the |
|---|---|
| August 2024 |
Applicant Bank. None appeared on behalf of the Defendants. Matter was heard in open Court on this the day of 05/07/2024. The detailed order in three pages annexed separately. The gist of the order is as follows: O R D E R i) Claim of the Applicant is allowed with cost. ii) The Defendants are jointly and severally liable to pay Rs. 7,82,29,654.41P as per contractual rate with interest @ 15.25% p.a. with monthly rest from 01.02.2022 till payment or realization. iii) It is declared that the claim is secured by hypothecation of assets and mortgage of immoveable properties described in the Schedule I & II of the OA at page 21 & 22. iv) Let, a certificate be issued accordingly. v) Ld. Recovery Officer shall realize the amount as per the Recovery Certificate from the defendants in accordance with law. vi) 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) The parties are directed to appear before the Recovery Officer on 23/09/2024 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. 136 of 2022 is allowed and stands disposed of. All the IAs, if any, 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 Stenographer, transcribed by her, corrected, signed and pronounced by me in the open Court on this the day 21stAugust,2024) |
| Place: Kolkata (Ambuja Mohan Das ) Date: 21stAugust 2024 PresidingOfficer |
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1 issue framed by the court
Whether the claim for recovery of dues from the borrower and guarantors is barred by limitation.
1 provisions across 1 enactments
Punjab National Bank
M/s Bella & Brat
Mr. Ankur Agarwal
Mrs. Namrata Agarwal
Mr. Shiv Prakash Agarwal
Ambuja Mohan Das
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
