Allowed

State Bank of India v. Deepak Prasad Srivastav

DRT15 Jan 2024OA/161/2022

Case brief

AI extract

What is this about?

In an ex-parte application for recovery of dues, the Tribunal held the defendant jointly liable for a term loan. The application was allowed with a future recovery certificate and costs of thirty days for repayment.

What did the court decide?

Allowed O.A. for recovery of Rs. 39,46,297/- with pendente lite and future interest. Recovery certificate issued. Defendants debarred from disposing of properties. Thirty days given for repayment.

State Bank of India versus Deepak Prasad Srivastav — Corruption | DRT (2024)

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BEFORE THE DEBTS RECOVERY TRIBUNAL-III KOLKATA PRESENT: -SRI KAMAL DE.

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PRESIDING OFFICER

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O.A. No, 161 of 2022

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DATE OF DELMRY OF ORDER I

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l5/O,./2tJ24

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State BaDk of India, a banking institution and a body corporate constituted, incorporated under the provisions of the State Bank of India Act, 1955 having its Central Office at State Bank Bhawan, Madam Cama Road, Mumbai-400021 and registered office in Samriddhi Bhawan, 1, Strand Road, P.S. Hare Street, Calcutta - 700001 and carrying on their banking business inter alia amongst others at their Baruipur Branch, Zilla Parishad Building, P.O. Baruiput, 24 Parganas (South), P.S. Baruipur and also at Stressed Assets Recovery Branch, South Bengal commonly known as "SARB, South Bengal", Jeevandeep Building, 1, Middleton Street, 2nd Floor, Kolkata-700071, within the jurisdiction of this Ld Tribunal

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Applicant Bank

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-Versus-

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Sri Deepak Prasad Srivastav, son of Sri Jyoti Prasad Srivastava, residing at P-27, Nabalia Para Road, Purba Barisha, Haridevpur, Netaji Sangha Club, Kolkata-700008

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Defendants

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Counsel for the Applicant Bank: -

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Anirban Pramanick, Advocate

Set ex-parte on

20/ 12/2023

JUDGEMENT

The Applicant Bank filed the^present OA being No. 0.A./161/2022 on^{02/04/2022for} recovery of a total sum of Rs.39,46,297/-^(Rupees thirty^{nine lakh forty six thousandtwo} hundred ninety seven) only from the Defendants^{towards termloan togetherwithinterest,} cost and other usual reliefs.

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The Defendants are served with summons.^{The defendantsdid not appear,as therewas no} representation from the defendants, the^{case was fixedfor ex-partehearing on 20/12/2023,} and heard ex-parte accordinglY.

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The Applicant Bank examined 19 documents^{throughMs Rupsa BhowmikChakraborty,} Chief Manager and marked as Exhibit Annexure-A^{to Exhibit Annexure-S}

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Heard the Ld. Counsel for the Applicant Bank.

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The point that arises^{forconsiderationis:}

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Whether the Applicant^{Bank is entitled to the claim made in the OA againstthe Defendants} and OA schedule^{properties as prayed for?}

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As stated supra, the^{Defendant remained absentand did not turnup to controvertthe} version of the O.A. of^{Applicant Bank The EvidenceAffidavitcoupled withthe recitalsin the} documents viz., Exhibits^{Annexure-Ato Annexure-Smarked on behalf of the Applicant} Bank, established^{the claim of the Applicant Bank against theDefendantsand oA schedule} properties, Hence, I hold that the^{Defendants are jointlyand severally liable to payto the} Applicant Bank the claims^{madein the OA with futureinterest and costs'}

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In the result, the^{present OriginalApplicationis attowedex-parte with costs, as under:-}

ORDER

(1)

O.A. No. 161 ot^{2022 filedby the ApplicantBank is allowed and debt is determinedwith cost} against the defendants.^{It is hereby orderedthat applicantbankis entitledto recover from} thedefendantsthetotalamounttothetuneofRs.39,46,29T/-(Rupeesthirtyninelakh forty six thousand two^{hundredninety seven) onlywith pendenteliteand future interest@} 10.000/operannuminterestwithsimpleontheamountduefromthedateoffilingofthe Original Application^{i.e, 02/04/2022 till full and finalrealizationof the claimamount'}

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Amount, if any,^{paid by the defendantsin the loan accounts or amount, if any, recoveredby} the Applicant Bank after^{filingof theO.A. the same be taken intoaccountwhile arrivinqat} the exact amount^{of dues/debtpayableby the defendants Accordingly,pendenteliteand} future interest shall be^{calculated on the reducedamount.}

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Defendants are debarred^{from disposing, alienatingor dealingwith any of theproperties} belonging to them^{till the aforesaid decretaldebt is recovered from the defendants}

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(4) Defendants are^{given a time of thirtydays from the date of the Judgement/Final Order for} repaying of the above^{mentioned dues, so intimated to them ln casethe defendantsfail to} pay the dues within the above^{mentionedtime,the applicant bank is entitledto recoverits} dues by sale of secured^{assets, if any. Applicant bank is also entitled to proceed against} personal properties of the defendants^{(Bothmovableand immovable)and also proceed} against the defendants^{personallyto recover the duesin accordancewith law'}

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(s) Let the Certificate of^{Recoverybe drawn up by Ld Registrar forthwith in termsof} Judgement for^{issuanceof thesame against defendantsin favour of theapplicantbank} UnderSectionlg(22)oftheRecoveryofDebtsandBankruptcyAct,lg93andputupthe same for issuance^{of the Certificate.}

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amount as^{per the Recovery Certificatefromthe}

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(6) Ld, Recovery officer^{shall realizethe} defendants in accordance^{with law.}

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(7) Ld. Registrar of this Tribunal^{is directed to deliver recovery certificate in termof the final} order/judgement for^{recovery of the sum against the defendantin favourof the Applicant} Eank under Section^{19 (22) of the Recovery of Debtsdue to the Bank and Financial} Institutions Act, 1993^{now knownas Recoveryof Debtsand BankruptcyAct, 1993'}

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(B) The parties are directed to appear^{before the RecoveryOfficet on 16/02/2024for further} action in accordance with^{law in the eventthe entireamountis not paidby the said date'}

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Accordingly, the Orlginal^{Application beingO.A No. 161 of 2022is allowedandstands} disposed of.

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copy of the JudgemenVFlnal^{order be upload ln the Tribunal'swebsite.} File is consigned to the Record^Room.

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(Drctat€d to steno, transcnbed bv him, corrected, signed and Pronounced by me in the open Cou(^{on thisdayol} 15rh January.2024)

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( KAMAL DE ) PRESIDING OFFICER

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8SS

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Debts Recovery Tribunal-3, Kolkata Order Sheet (Continuation)

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caseNo.OAN	o.L6ll2O22 stateBankofIndiavs.Deepak^{PrasadSrivastava}
Dateoforder	Orderwithsignature
orderNo. Dt.15lO1/2024	Order^{pronounced (vide}separate^sheets). In theresult, O.A.No.161of^{2022asallowedwithcosts.} IssueRecoveryCertificate accordingly
	(Kamal De) PresidingOfficer DRT-3,Kolkata

State Bank of India v. Deepak Prasad Srivastav

Case brief

What is this about?

What did the court decide?

State Bank of India v. Deepak Prasad Srivastav

Case brief

What is this about?

What did the court decide?

What the court decided

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