Allowed

Uco Bank v. Chandan Jaiswal and Ors.

DRT18 Jun 2024OA/5/2022

Case brief

AI extract

What is this about?

Debt Recovery Tribunal allowed the applicant bank's ex-parte original application for recovery of loan dues totaling Rs. 35,44,298.21. The tribunal declared the defaulting guarantors jointly and severally liable, debarred them from disposing of properties, and ordered issuance of a recovery certificate.

What did the court decide?

Debt determined at Rs. 35,44,298.21 with pendente lite and future interest at 9% per annum. Recovery certificate to be issued.

Uco Bank versus Chandan Jaiswal and Ors. — Company and Corporate | DRT (2024)

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)

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BEFORE THE DEBTS RECOVERY TRIBUNAL-IIt KOLKATA

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PRESENTI -sRI KAMAL DE.

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PRESIDING OFFICER.

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O.A. No. OS OF 2022.

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DATE OF DELMRY OF ORDER I tA/0,6/2824

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UCO Bank is a body corporate constituted under the provisions of the Banking Companies (Acquisition and Transfer of Undertakjngs) Act, 1g)O, having its Head Office at 10, LT.M. Sarani, Kolkata-7OOOO1 and also having its numeroui branches including one at Bagmari Road Branch, 219, Manicktala Main Road, Kotkata-7oo054, within the jurisdiction of this Ld. Tribunal.

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Applacant Bank.

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1. Mr, Chandan Jaiswal, S/o Late Dharam Raj Jaiswal, being the guarantor, residing at 63A. Badridas Temple Street, p.O.- Shyambazar, p.S.- Maniktala, Kolkata: 700004.

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1. l4rs. Seema Jaiswal, D/o Chandra Sekhar Choudhary, being the guaranror, residing at 634, Eadridas Tempte Street, p.O.- Shyambazar, p.S.- t'.,taniktala, Kolkata-700004.

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1. Mrs. Kanchan laiswal, Wo Sagar Lal Jaiswal, being the guarantor. residing at 634, Badridas Temple Street,^p.O.- Shyambazar, p.S.- Maniktala, Kolkata700004.

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1. Mrs. Bimla Devi Jaiswal, W/o Late Dharam Raj Jaiswal, being the guarantor, residing at 63A, Badridas Temple Street.^p.O.- Shyambazar, p.S.- Maniktata, Kolkata-70O004.

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Defendants.

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Counsel for the Applicant Bank: -

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Sachetan Ghosh, Advocate,

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Set ex-parte on 12/06/2024

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]U DG E N1-ENJ

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The Applicant Bank filed the present O.A. being No. 0.4./05/2022 on 04/01/2022 fot recovery of a total sum of Rs. 35,44,29A.21/- (Rupees thirty five lakh forty four thousand two hundred ninety eight and paisa twenty one only) from the Defendants towards Term Loan together with interest, cost and other usual reliefs.

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2- The Defendants are served with summons. The defendants did not appear, as there was no representation from the defendants, the case was fixed for ex-parte heoting on 12/06/2024, and heard ex-parte accordlnqly.

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The Applicant Bank examined 7 documents through Mrs. Suporna^{Biswas, Managermarked} as Exhibit Annexure-A to Exhibit Annexure-F.

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Heard the Ld. Counsel for the Applicant Bank.

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The point that arises for consideaation is^:

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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 absent^{anddid not turn up to controvert the} version of the O.A. of Applicant 8ank. The^{Evidence Affidavitcoupled with the recitalsrn the} documents viz., Exhibits Annexure-A^{to Exhibit Annexure-F marked on behalf of the} Appllcant Bank, established the claim of the^{ApplicantBank againstthe Defendants and OA} schedule^properties. Hence, I^{hold that the Defendants are} iointly^{and severally liable to pay} to the Applicant Bank the claims^{madein the OA with futureinterest andcosts}

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In the result, the^present Original Application^{is allowed ex-parte withcosts, as under:-}

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ORDER

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(1)O.A. No. 05 ot 2022 filed by the Applicant Bank is allowed^{anddebt is determined withcost} against the defendants. It is hereby^{orderedthat applicant bank is entitledto recover from} the defendants the total amount to^{the tuneof Rs. 35,44,298.211- (Rupeesthirty five lakh} forty four thousand two hundred^{ninety eight and paisatwenty one only) withpendentelite} and future interest @ 9olo^{perannuminterestwith simple on the amount due from the} date of filing of the Original^{Application i e,04101/2022till full and final realization of the} claim amount.

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(2) Amount, if any, paid by the defendants in the loan accounts^{or amount, if any, recoveredby} the Applicant Bank after filing^{of the O.A. the same be taken intoaccountwhile arriving at} the exact amount of dues/debt^{payable by the defendants. Accordingly, pendentelite and} future interest shall be calculated^{on the reducedamount.}

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(3) Defendants are debarred from disposing, alienating^{or dealingwith any of theproperties} belonging to them till the aforesaid^{decretal debt is recovered from the defendants.}

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(4) Defendants are given a time of thirty days from the^{date of the ludgemenvF'nal Orderfor} repaying of the above mentioned dues,^{so intimated to them. In casethe defendantsfail to} pay the dues within the above mentioned time, the applicant^{bank is entitledto recover its} dues by sale of secured assets,^{if any. Applicant bank is also entitled to proceed against} personal properties of the defendants^(Both movable and^{immovable)and alsoproceed} against the defendants^{perconallyto recover the dues in accordancewith law'}

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(5) Let the Certificate of Recovery be d.awn up by Ld. Registrar forthwith in terms of Judgement for issuance of the same against defendants in favour of the applicant bank under Section 19 (22) of the Recovery of Oebts and Bankruptcy Act, 1993 and put up the same for issuance of the Certiflcate.

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(6) Ld, Recovery officer sharr rearize the amount as per the Recovery certificate from the defendants in accordance with law,

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(7) Ld. Registrar of this Tribunal is dire€ted to deliver recovery certiflcate in term of the final order/judgement for recovery of the sum against the defendant in favour of the Applacant Bank under Section 19 (22) gf the Recovery of Debts due to the Bank and Financial Institutions Act, 1993 now known as Recovery of Debts and Bankruptcy Act, 1993.

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(8)The parties are directed to appear before the Recovery otncer on r1/o712o24 for further action in accordance with law in the event the entire amount is not paid by the said date.

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Accordrngly, the Original Application being O.A. No. 05 of 2022 is aIowed and stands disposed of.

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Copy of the Judgement/Final Order be uploaded in the Tribunal,s website. Frle rs consigned to the Record Room.

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(Dictated to sleno, transc bed by her, corrected, srgned and prolounced by me rn the open Court on thrs the 18⁵ day of )une, 2024)

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( KAMAL DE ) - PRESIDING OFFICER,

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

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CaseNo.OAN	o.05of2022 UCOBank Vs. Chandanfaiswal&Ors.
Date ofOrder	Orderwithsignature
OrderNo.07 ot.la/06t2024	Order pronounced(videseparate sheeG).
	In theresult,O,A, No.05of2022 isallowedwithcosts, Recovery Ce.tificate accordingly.
	Presiding Officer DRT-3,Kolkata
ss

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

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CaseNo.O.A,/	05l2022 UCOBank Vs.ChandanJaiswal&ors.
Dateoforder	orderwithsignature
OrderNo.06 ot.12t06t2024	Presenti. ForApplicant ForDefendantsr Ld.AdvocateSachetan Ghosh None
ss	TheRegistry has issued^{noticeto theDefendantinterms of} order^passedbythis^{Tribunal.Defendanthasnotturnedup} despitethe fact^{thatthenotices have been served upon the} Defendant. Applicant^{prayedforhearingof thecaseex-parte'} Thematteris^{pending since2022.Hencerightavailabletosole} Defendantfor^{filingofw.sandcounterevidenceistobe} closed.Itisclosed.^{TheOA proceedsforex-parteHeardtheLd} Counseltor the^{Applicant.Reservedfor order'} Applicant may^{filewdttennotesofarguments'} 1018106/2024^foro.der.
	(KamalDe) PresidingOfficer DRT-3.Kolkata

Uco Bank v. Chandan Jaiswal and Ors.

Case brief

What is this about?

What did the court decide?

Uco Bank v. Chandan Jaiswal and Ors.

Case brief

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What did the court decide?

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