Allowed

Punjab National Bank v. Ms Royal Krishna Enterprise and Ors.

DRT21 Aug 2024OA/24/2023

Case brief

AI extract

What is this about?

In an ex-parte hearing before the Debts Recovery Tribunal, Kolkata, the Tribunal allowed the Original Application filed by Punjab National Bank for recovery of dues of Rs. 88,97,622.65 along with interest and costs against the defaulting partners of Royal Krishna Enterprise.

What did the court decide?

Recovery of Rs. 88,97,622.65 with pending and future interest at 10.55% p.a., coupled with prohibitory injunction against disposing of assets and a Recovery Certificate.

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

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BEFORE THE DEBTS RECOVERY TRIBUNAL-tII KOLKATA PRESENTI^.sRI KAMAL DE.

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PRESIDING OFFICER.

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O.A. No. 24 OF 2023.

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OATE OF DELMRY OF ORDER | 2f /Oa/2024

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Punjab National Bank is a body corporate constituted under the Banktng Companies (Acquisition and Transfer of Undertakings) Act, 1970, having its Head Office at Plot No-4, Sector-10, Dwarka, New Delhi_110075, and carrying o-n business inter alia at New Earrackpore Branch located and situated at Ach;rya prafola Chandra Road, New Earackpore, District,North 24 parganas, Kolkata-7OO13t, Wesr Bengal, India, wjthin the jurasdictron of this Ld. Tribunat.

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Applicant 8ank.

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-Versus-

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lYls. Royal Krishna Enterprise (a partnership Farm) Partners: Smt,^piyali Saha & Sri prithwiraj sinha, 2.34/.1/_1, East Bidyadharpur, Natungram, p.O.- Shyamnagar, p,S.- Jagaddat, DistrictNorth 24 Parganas, pin Code-743127, West Bengai, Indra:

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Smt. Piyali Saha, Daughter of Srl Amat Saha, Sapujpara, p. N. Cotony, post Offjce & polrce Station- Balty, District-Howrah, pin Code-7iti2: , iry*t e".qil,'i"a,".

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Sri Prithwiraj Sinha, Son of Sri Ranjrt Sinha, 9 No. Rajpukur path, Authpur, post orrrce- Authpur,^potice station- .ragiaaar, oistrtct- N;;;; #;;;;; prn code_ 743128, West Benqal, India.

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Smt. Acharita Sinha, Wife of Sra prithwiraj Sinha, 9 No. Rajpukur path, Authpur, post Offrce- Authpur,^potice Station- jaqadd;I, Dist;ict_ N.rtfi-Z+^{-p".g";"r,'pin} Code_ 743128, West Eengat, India,

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Defendants.

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Counsel for the Applicant Bank: -

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IV r. Swastik Saha, Advocate,

Set ex-parte on

13/OA/2024

]UDGEMENI

The Applrcant Bank fited the present O.A. being No. O.A./24/2O23 on 06/0/2023 fot recovery of a total sum of Rs. 88,97,622.65/- (Rupees eighty eaght lakh ninety seven thoLrsand six hundred twenty two and paisa sixty five only) from the Defendants towards Cash Credit, Term Loan, Term Loan (DLCOV) and Term Loan (TLGCL) together with interest, cost and other usual reliefs.

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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 hearing on \3/O8/2024, and heard ex-parte accordingly.

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The Applicant Bank examined 25 documents through Sri Hemraj^parewa, Chief t4anager marked as Exhibit Annexure-A to Exhibit Annexure-A-24.

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Heatd the Ld. Counsel for the Applicant Bank.

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The point that arises for consideration is :

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Whether the Applicant Bank is entitled to the ctaim made in the OA against the Defendants and OA schedule properties as prayed for?

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As stated supra, the Defendant remained absent and did not turn up to controvert the versron of the O.A. of Applicant Bank. The Evidence Affidavit coupled with the recitats ln the documents viz., Exhibits Annexure-A to Exhibit Annexure-A-24 marked on behalf of the Applrcant Bank, established the claim of the Applicant Bank against the Defendants and OA schedule properties. Hence, I hold that the Defendants are jointly and severally lrabte to pay to the Applicant Bank the ctaims made an the OA with future interest and costs.

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-I

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In the result, the present Origlnal Application is allowed ex-parte with costs, as underi-

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ORDER

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(1) O.A. No. 24 0f 2023 fired by the Appricant Bank is aflowed and debt is determined with cost against the defendants. It i5 hereby ordered that applicant bank is entaued to recover from the defendants the total amount to the tune of Rs. 88,97,622.65/- (Rupees erghty erght lakh ninety seven thousand six hundred twenty two and paisa sixty tjve only) wrth pendentelite and future interest @ 10.55o/o per annum interest with simpte on the amount due from the date of fiting of the Origanat Apptication i,e, 06/01/2023 tilt fu and finat realization of the claim amount.

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(2) Amount, if any, paid by the defendants in the roan accounts or amountr if any, recovered by the Applicant Eank after firing of the o.A. the sarne be taken into account whire arriving at the exact amount of dues/debt payable by the defendants. Accordingly, pendentelite and future interest shall be calculated on the reduced amount.

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(3) Defendants are debarred from disposing, alienating or dealing with any of the propertres 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 Judgement/Finat Order for repaying of the above mentioned dues, so intimated to them. In case the defendants farl to pay the dues within the above mentioned time, the applicant bank is enti ed to recover its dues by sale of secured assets, if any. Applicant bank is also enti ed to proceed against

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personal properties of the defendants (Both movable and immovable) anc, also proceed against the defendants personally to recover the dues in accordance wjth law.

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(5)Let the Certificate of Recovery be drawn 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 Debts and Bankruptcy Act, 1993 and put up the sdme for rssuance of the Certiftcate.

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(6)Ld. Recovery Officer shall realize the amount as per the Recovery Certificate from the defendants in accordance with law.

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(7)Ld. Regastrar of thas Tribuna, is drrected to deliver recovery certificate rn term of the finar order/.iudgement for recovery of the sum against the defendant in favour of the Applicant Bank under section 19 (22) of the Recovery of Debts due to the Bank and Frnanciar Instatutions Act, 1993 now known as Recovery of Debts and Bankruptcy Act, 1993,

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(8)The parties are drrected to appear before the Recovery Offtcet on 23/og/2024 for Further actton rn accordance with law in the event the entire amOUnt is not paid by the sard date.

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Accordrogry, the originar Apprication berng 0.A. No. 24 0f 2023 is alrowed and stands drsposed of.

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Copy of the Judgement/Fanal Order be uptoaded rn the Tribunat,s website.

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File is consigned to the Record Room,

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(Drct€ tec,,to .sten^{o, transcnbed by her, corrected,signed and} Dronounced by me rn the open Court on the 2lsr da; or Augusr, 2024)

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( KAMAL DE ) PRESIOING OFFICER,

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

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Case No. OA No. 24 of 2023
Puniab National Bank
a En
Order with signature
Order No.05
ot.21/08/2024 Order pronounced (vide separate sheets).
ln the result, O.A. No. 24 of 2023 rs a owed with costs. tssue
Recovery Certificate accordingly.
( Kamat De )
Presidtng Officer
DRT-3, Kotkata
ss
I
i
-L

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

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Case No. O.A./ 24l2023
Punjab National Bank
I Krishna
Date of Order
O&cLNa-o4 Present:.
Dt.l3/oa/2024
For Applicant : Ld. Advocate Swastik Saha
For Defendants I None
The Registry has issued notice to the Defendant in terms of
order passed by this Tribunat. Defendant has not turned up
despite the fact that the notices have been served upon the
ss
Defendant. Applicant prayed for hearing of the case ex_parte.
Ihe matter is pending since 2023. Hence right available to sole
Defendant for faling of W.S. and counter evidence is to be
closed. It is closed. The OA proceeds f,
Heard the Ld
cornser for the Appricunt. ne.e*uo roltoex-parte
Applicaht may file written notes of argumenrs.
To 27/08/2024 for ordeL
Presiding Offiier
DRT-3, Kotkata
]-
l
L

Punjab National Bank v. Ms Royal Krishna Enterprise and Ors.

Case brief

What is this about?

What did the court decide?

Punjab National Bank v. Ms Royal Krishna Enterprise and Ors.

Case brief

What is this about?

What did the court decide?

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