Allowed

Punjab National Bank v. Rabijul Ali Laskar

DRT18 Apr 2024OA/191/2023

Case brief

AI extract

What is this about?

In an application under Section 19 of the RDBFI Act, 1993, the Tribunal examined documents establishing the liability of co-borrowers for an overdue overdraft. Finding the application timely and the evidence unchallenged, the Tribunal allowed the application and ordered the issuance of a Recovery Certificate.

What did the court decide?

Issued Recovery Certificate for Rs. 24,66,354.78 against the respondents; charge kept alive on mortgaged and hypothecated properties.

Punjab National Bank versus Rabijul Ali Laskar — Specific Performance | DRT (2024)

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O.A 19112023/DRT-Guwah.ti

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IN THE DEBTS RECOVERY TRIBUNAL,^GUWAHATI

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(North Eastern Region)

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(Tribunal of Assam, Nagaland, Meghalaya, lvanipur,^Mizoram, Arunachal^{Pradesh& Tripura)}

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Befor€ Shrl Shlv Sharan Oubev. Pr$idino Ofrlcol

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O.A. No. !91/2023

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ln the matter of -

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PUNJAB NATIONAL BANK^{(Erstwhile United Bankof lndia)} Silchar Branch,

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Silchar, Dist. Cachar,^Assam.

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Applicant

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Vs.

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RABIJUL ALI LASKAR

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Son of Late Ayatullah Laskar,

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Kazidahar Part-ll, P.O. Kazidahar,

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P.S. Sonai Sub Divn., Silchar, Distric!^Cachar, Assam-7881 15.

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RAJIMUL ALI LASKAR

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Son of Late Ayatullah Laskar,

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Kazidahar Part-ll, P.O.^Kazidahar,

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P.S. Sonai Sub Divn., Silchar,^{Distric!Cachar,} Assam-788115.

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Defendants

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Preaenco of tha Counlel:

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: Mr' Shoubhik Chanda, Advocate For the Applicant Forlhe Defendants : None^(Ex-parte)

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Oated :l8r04r202il

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JUDGiIENT

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This is an application under section^{19 of the Recoveryof Debis Due to Banks} and Financial lnstitutions Act,^{'1993 filed by the PUNJABNATIONAL BANK, (Erstwhile} United Bank of lndia),^{Silchar Branch, Silchar, Dist. Cachar, Assam, with a prayerto} issue Recovery Certificate for the^{sum of Rs.24,66,354.78(Rup.3sTwenty-Four} Lakh! Sixty-Six Thousand Three^{HundredFifty'Four and Pai3a Seventy'Eight)} only as on 31.O1.2023 against^{the defendanls withpendenteliteand future interest at} the contractual rates with monthly^{reststill realization along withcost and other relief}

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A few facts^giving rise to the^{present applicationare as under.}

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Sl*A th'^t ^ 2 "L'^pn ,ot^son#(6alL\ I DRT, Guwahati

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O.A i91/2023/DRl,Guwahati

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The Defendant No. 1 and 2 are the co-borrowers and the Defendant No. 1 is also the mortgagor to the loan facility availed of by both of them. The Defendants No. 1 and 2 had approached the Applicant Bank and applied for Over-Draft loan facility of Rs. 20.00 Lacs vide Loan Application dated 12.12.2015. The competent authority of the Applicant Bank after considering the loan application and various other documents, submitted by Defendants No. I and 2, vide its Sanction Letter dated 28.12.2015, had sanclioned an Over-Draft facility of Rs. 2O.OO Lacs under United Mortgage Loan Scheme with interest thereon at the rate of Base Rate +2.10% (The then BR being 11.75o/o p.a. with monthly rest) present effective rate at the time of sanction stood at 13.85% p.a. with monthly rest. The Over Draft facility is repayable in 12 months. Defendant No. 1 and 2 as co-borrowers had signed on lhe said Sanction Letter, thereby agreeing to the terms and condition laid down therein.

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Having accepted the terms and conditions of sanction by making endorsement on the sanction, Defendant No. 1 and 2 had executed Oemand Promissory Note dated 28.12.2015 in terms of the sanction, inter-alia giving due effect to the terms and condition of sanclion, promising to repay the loan and to secure the dues of Bank. Further, the Defendant No. 1 and 2 had also signed and executed a Letter of Lien and Letter of Continuity both dated 28.12.2015 as security in favour of the Applicant Bank.

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ln connection with the Over Draft loan facility of Rs.20.00 Lacs only, various documents were signed and executed by Defendant No. 1 and 2, in favour of the Applicant Bank as security for repayment of the loan thereby not only agreeing to the terms and conditions of the said agreement but also hypothecated the assets created out of bank linance, etc. (more sp€cifically described in Schedule-A of the OA) with the Applicant Bank.

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Besides the securities fol repayment of the abovementioned loan facility, the Defendant No. I had created Equitable Mortgage in favour of the Applicant Bank over two plots of land measuring 2 Bighas (i.e. 7 Kathas covered by Dag No. 247 of 2d RS Patta No.82 and l Bigha 13 Kathas covered by Dag No.248 of2nd RS Patta No. 82 respectively)^(more specifically described in Schedule-B of the OA) by deposit of

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sk tLa^o- Ark^" en"ia,'g onolg lo4lN'|⁰ DRT. Guwahali

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OA 191zo23/ORT€uwahal

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Registered Title Oeed and other land cum title documents with the Applicant bank as security for repayment of the loan and also conflrmed^{the depositof the Title Deed} and other land documents for creation of equitable^{mortgage by signing and executing} a Specimen of acknorrledgement letter relating io deposit^{of Title Deeds dated Nil.} Further, an Agreemenl under Mortgage Loan Scheme^{dated28.12.2015was also} signed and executed by the borrowers in this regard.

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The disbursement of the loan was^made on the^execution of^security documents as aforesaid in favour^{of the Applicant Bank by opening loanaccount} number (OO A/c No. 0037210035291)

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The Oefendants No. 1 and 2 after availing^{theaforesaidfinancial assistance} from the Applicant Bank, neglecled and^failed to^{comply with the terms and conditions} of the sanction and were irregular^{in repaymentof the dues.The Defendant No. 1 and} 2 had availed of the said loan facility^{from the Applicant Bank, but have not paid the} loan amount as^per the terms and conditions as agreed^{upon with the Applicant Bank,} inspite of repeated demands and requests by the^{ApplicantBank.However,} Defendants No. 1 and 2 had confirmed the^{outstanding balancein the loan account by} signing and exscuting Balanc€ and Security Confirmation Letter dated^15.11.2o2o.

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Despite several reminders made by the Applicant Bank, the Oefendants^never paid any he6d to such intimation and as such the Applicant Bank vide Letters dated 03.07.2019 informed the Defendants that the^loan account is not^{regular and} accordingly requested them to^pay the over dues but lhe^{Oefendants failedto respond} to the same.

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The defendants had availed the said credit^{lacility from the applicant bank but} have not^paid the outstanding loan^amount as^{per terms} and^conditionsas agreed upon with the applicant bank,ⁱⁿ spite^{of repeateddemands and requestby the} applicant bank. As the defendants^{failed to repaythe loan amount,the saidloan} account became NPA on 31.03.2021^{. Affer the account became NPA the applicant}

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d,Lt l-l"a^eaQ"Lq r.",o,"no*Sfo'tl'u ! DRT. Guwahati

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O A 191/2023/ORT-Guwshal

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bank issued notices for repayment of the due amount, but the defendants failed to repay the loan amount.

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The applicant bank thus became constrained to lile the present Originat Application for the recovery of Rs. 24,66,3S4.7E (Rup€g3 Twsnty-Four Lakh3 Sixty_ Six Thousand Thres HundrEd Fifty-Four and paba Soventy-Eight) only as on 31.01.2023 along with interest and cost of the application.

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After filing of the OA the Tribunal issued notices upon the defendants through registered post and the applicant bank lited service report on 02.09.2023 and brought on record the postal receipts along with track consignment report which shows that notices have been served upon the defendants. lt is observed that inspite of proper service of notice upon th€ defendants there was no representation on behalf of the detendants eithor by th€ counsel or the person and hence the defendanls were set exparte on 29-09-2023 and their right to file written statement cum evidence on affidavit was closed and the matter vyas listed for hearing on behalf of the applicant bank.

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Supporting the claim of the applicant bank Smt Anjana Das, Chief Manager of the Applicant Bank has filed evidence on afiidavit coupled with the security documents marked as Exhibit 1 to 19 supporting the claim of the applicant bank.

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Heard the learned @unsel for the applicant bank who prayed for issuance of Recovery Certificate against the defendants as per pleadings made in the Application, supported by evidence on affidavit of their witness who affirmed on oalh the execution of the security and other documents by the defendants and also execution of their own documenis relied upon, which have been marked exhibits.

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Considering the facts and circumstances of the case, I am of the considered view that the documont filed by the applicant bank are supporting the claim of the applicant bank and establishing the liability of the defendants. lt is proved that the defendants are^jointly and severally liable to pay to the applicant bank the claim made in the Original Applicatjon. The loans were obtained and documents have been executed on 28.12.2015. Moreover, ater perusing the documents on record and taking xffi#tu

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DRT. Guwahalr'

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O.A lglzo2yoRT.cuwahari

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into consideration of the facts and drcumstances of the case, I find lhat the mortgage has been created by the deferdant No.1 where the limitation available is for 12 years and as such taking into account of the creation of the mortgage the applic€tion appears to have been filed n€llwithin the pedod of limitation. The accounts became NpA on 31.03.2021 and the OA has been filed on 05.06.2023. Hence, the OA is filed well within the period of limitation and this Tribunal having a jurisdiction to adjudicate the Original Application.

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Considering the unchallenged/unrebutted version of Smt Anjana Oas, the applicant's witn$s and allth€ documents marked as exhibits, including duly certified copy of the statement of account along with interest calculation sheet maintained by the applicant Bank in it's regular course of business, I hold that the applicant is enffied to get the Recovery C€rtificate as prayed for.

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ln the result, the present Original Application No. 1gl of 2023 is allowed wtth cost as undar: -

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(i) The defendants No. 1 & 2 are jointly and severalty tiable to pay to the applicant bank a sum of Rs.24,66,354.78 (Rupees Twenty-Four Lakhs Sixty-Six Thou3and Three Hundred Fifty-Four and^paisa Seventy-Eight) only with pendentelite and future interest @13.85% p.a. with monthly rests ftom 01 .02.2023 till tho date of full paymenurealization and also cost of the application.

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(ii) The charge of the certiricated amount be kept alive on hypothecated properties as described in Schedule-A of the OA till the amount is realized in full.

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(iii)

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The charge of the certificated amount be kept alive on mortgaged property i.e. A plot of land measuring 2 Bighas (7 Kathas covered by Dag No. 247 ol 2^d RS Patta No. 82 and 1 Bigha 13 Kathas covered by Dag No. 248 of 2"d RS Patta No. 82 respectively) situated at Village and P.O. Kazidahar Part-ll, Pargana- Banraj, under Mouza Kazidahar Part-ll, P.S. Sonai, Distric! Cachar, Assam standing in the name of defendant No.1 and is bounded Ot-Sl^n d,^ , A..U,

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eresiorng offiP^{ []q⁽ DRT. Guwahati

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oA 19r/2023/DRT-cuw.h.ti

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Deed No. i742 dated i 1.i0.2006: North: Land of Dag No. 24g; South: Land of Md. Moin Uddin under Dag No. 248: East: Land of Sri Jagadish Nath; West: Land of Dag No. 248;

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oeed No. .t 849 date d 20.11 .2015:

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1.r Kitta North: Land of Dag No. 247,248i South: Land of Md. Monia Begum Laskar & ors; East: eovt. Road; West: RCC buitding of Md. RabijulAi L-sk-ar;

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2"d Kitta North: Land of D€g No.247,248i South: Land of Md. Monia Begum Laskar & ors; East: Govt. Road; West: Land of SriAbhuit ' Nath, as describel in Schedule.B of the OA till the amount is reatized in fu .

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(iv) The appricant bank is entifled to proceed against the secured items towards

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recovery of the debts.

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(v) The applicant bank is also entiflad to proceed against the personal assets and properties ofthe defendants towards recovery of lhe dues.

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(vi) The applicant bank is sntitled to the costs of tha O.A. which includes the

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advocate fe€s of the applicanl bank. Applicant is directed to flle the cost memo within 2 weeks from today.

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(vil) lssue Recovery Certmcate accordingty for a sum Rs. 24,60,304.28 (Rupees Twenty-Four Lakh3 Slxty-Six Thousand Throe Hundred Fifty-Four and Paba Soyonty-Elght) only in favour of the applicant bank against the defendants No. 1&2.

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(viii) Communicate copy of this order to the concerned parties.

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This order is dictated and corected by the undersigned.

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Judgment dated 18h April 2024, signed and pronounced in the Tribunat today

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under my signature.

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Copy of the JudgmenuFinal Order be uploaded in the Tribunal's Website and file be consigned to Record Room.

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Sl..ia st^"-.a. Q"U, (shiv sharan oLELif l"' 0 Prssiding Officer ORT, Guwahati.

Punjab National Bank v. Rabijul Ali Laskar

Case brief

What is this about?

What did the court decide?

Punjab National Bank v. Rabijul Ali Laskar

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

Coram

Case details

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