Allowed

Edelweiss Asset Reconstruction Company Limited v. Eastern Silk Industries Ltd.

DRT4 Mar 2024OA/251/2022

Case brief

AI extract

What is this about?

This is a recovery application filed by Bank of Baroda against several defendants for recovery of dues. The defendants failed to appear or file a written statement after substitute service. The tribunal allowed the bank's claim, declared it a secured debt, and ordered the issuance of a recovery certificate.

What did the court decide?

Claim of the applicant allowed with cost; defendants directed to pay principal and interest; recovery certificate issued; parties directed to appear before Recovery Officer.

Edelweiss Asset Reconstruction Company Limited versus Eastern… — Banking and Recovery | DRT (2024)

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BEFORE THE DEBTS RECOVERY TRIBUNAL-I KOLKATA

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PRESENT: -SHRI AMBUJA MOHAN DAS PRESIDING OFFICER

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O.A. No.251 OF 2009

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DATE OF DELIVERY OF ORDER : 4^th March, 2024

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Bank of Baroda , A body corporate constituted under the Banking Companies (Acquisition and Transfer of Undertaking) Act, 5 of 1970, head office at Baroda Bhawan, R.C. Dutta Road, Alkapuri, Baroda, PIN -390007, Gujarat, and carries on banking business through its branch office at Park Street, 3, Park Street, P.S.- Park Street, Kolkata-700016.

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..............APPLICANT

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-BETWEEN-

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M/S APURBA OVERSEAS PVT. LTD. having its Registered Office at Teghoria, R.K. Pally, Sonarpur, Kolkata-700150 and also at 33/1, N.S. Road, Marshal House, 7^th Floor, Room No.763, P.S. Hare Street, Kolkata-700001.

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SRI DULAL CHANDRA NASKAR, Director of M/s Apurba Overseas Pvt. Ltd., Teghoria, R.K. Pally, Sonarpur, Kolkata-700150 and also at 33/1, N.S. Road, Marshal House, 7^th Floor, Room No.763,P.S Hare Street, Kolkata-700001.

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SMT. ASHIMA NASKAR, Director of M/s. Apurba Overseas Pvt. Ltd., Teghoria, R.K. Pally, Sonarpur, Kolkata-700150 and also at 33/1, N.S. Road, Marshal House, 7^th Floor, Room No.763, P.S Hare Street, Kolkata-700001.

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MR. YEAR ALI MALLICK, S/o Late Sahabuddin Mullick, residing at Bondipur, Mistripara, P.O. Bansdroni, P.S. Regent Park, Kolkata-700070.

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................DEFENDANTS

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Counsel for the Applicant Bank: - Mr. Ramesh Ch. Prusti & Ms. Sunita Kabi, Ld Counsel Counsel for the Defendants:- Set ex-parte on 08.02.2024

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J U D G M E N T

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The present Recovery Application is filed by the Bank of Baroda, nationalized Bank carrying on business at at Park Street, 3, Park Street, P.S.- Park Street, Kolkata-700016 for recovery of total sum of Rs. 1,30,17,701/- with interest @ 14.50% p.a with monthly rest from 01.01.2009 against the Defendants till payment and/or realization. The Defendants are the borrower/guarantor/mortgager.

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The service of summons could not be effected upon the Defendants in usual mode of postal service. Hence, by the order of this Tribunal, the summons were served by substitute service by publishing in the

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newspapers in the ‘The Statesman’ (in English), Chhapte Chhapte(in Hindi) and in the ‘Aajkal’(in Bengali) on 11/06/2014 published from Kolkata. The Defendants appeared through their Advocate. Despite giving sufficient time, subsequently the Defendants neither appeared nor filed the Written Statement to controvert the claim of the Bank.. Hence, the matter was declared exparte on 08/02/2024.

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The Applicant in support of its contention filed Evidence on Affidavit duly affirmed by N.R. Pal, Chief Manager of the Bank annexing the various documents which are exhibited.

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I have perused the documents and Evidence and heard the Ld. Advocate for the Bank. By the said evidence on affidavit the Applicant could prove its claim and documents. The claim of the Bank is within the limitation and within the jurisdiction of this Tribunal. Hence, the claim of the Bank should be allowed with cost.

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In the above circumstances it is ordered :

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O R D E R

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i) Claim of the Applicants is allowed with cost. ii) The Defendants are jointly and severally liable to pay

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Rs.1,30,17,701/with interest @

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14.50% p.a with monthly rest from 09.12.2009 against the Defendants till payment or realization.

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iii) It is declared that the claim is secured by moveable/immoveable property described in the Schedule-X & Y of the OA at page 283.

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iv) Let, a certificate be issued accordingly.

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

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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.

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vii) The parties are directed to appear before the Recovery Officer on 17/04/2024 for further action in accordance with law in the event the entire amount is not paid by

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the said date.

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Accordingly, the Original Application being O.A. No.251 of 2009 is allowed and stands disposed of. All the IAs, if any, are also disposed of.

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Copy of the Judgment/Final Order be uploaded in the Tribunal’s website.

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File is consigned to the Record Room.

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(Dictated to Stenographer, transcribed by her, corrected, signed and pronounced by me in the open Court on this the day 4^th March, 2024)

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Place: Kolkata ( Ambuja Mohan Das )

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Date: 04/03/2024 Presiding Officer

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Page No.-	Order Sheet(continuation)
Case No. O.	A/251/2009 Bank of Baroda vs M/s Apurba Overseas Pvt. Ltd. & Ors.
Date of the order	Order with signature
04/03/202 4	For the applicant Ms. Sunita Kabi appears for the applicant bank. None is present on behalf of the Defendants. Matter was heard in open Court on this the day of 08/02/2024. The detailed order in three pages annexed separately. The gist of the ord as follows:
	O R D E R i) Claim of the Applicants is allowed with cost. ii) The Defendants are jointly and severally liable to pay Rs.1,30,17,701/- with interest 14.50% p.a with monthly rest from 09.12.2009 again the Defendants till payment or realization. iii) It is declared that the claim is secured moveable/immoveable property described in th Schedule-X & Y of the OA at page 283. iv) Let, a certificate be issued accordingly. v) Ld. Recovery Officer shall realize the amount as per th Recovery Certificate from the defendants in accordan with law. vi) Ld. Registrar of this Tribunal is directed to deliv recovery certificate in term of the final order/judgme for recovery of the sum against the defendants in favo of the Applicant Bank under Section 19 (22) of th Recovery of Debts due to the Bank and Financi Institutions Act, 1993 now known as Recovery of Deb and Bankruptcy Act, 1993. vii) The parties are directed to appear before the Recove Officer on 17/04/2024 for further action in accordan with law in the event the entire amount is not paid the said date. Accordingly, the Original Application being O.A. No.25 of 2009 is allowed and stands disposed of. All the IAs, if an are also disposed of. Copy of the Judgment/Final Order be uploaded in th Tribunal’s website. File is consigned to the Record Room. (Dictated to Stenographer, transcribed by her, corrected, signed an pronounced by me in the open Court on this the day 4^thMarc 2024
	Place: Kolkata ( Ambuja Mohan Das ) Date: 04/03/2024 Presiding Officer

Edelweiss Asset Reconstruction Company Limited v. Eastern Silk Industries Ltd.

Case brief

What is this about?

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Edelweiss Asset Reconstruction Company Limited v. Eastern Silk Industries Ltd.

Case brief

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