Allowed

Indian Bank v. Ms United Royal Fab Engineering Private Limited and Ors.

DRT9 Jul 2024OA/253/2023

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an ex-parte original application filed by Indian Bank for recovery of dues totaling Rs. 7,96,20,327/- with interest against five respondents. The court declared the debt due and ordered a recovery certificate under Section 19 (22) of the RDB Act.

What did the court decide?

Recovery of Rs. 7,96,20,327/- with interest; issuance of Recovery Certificate under Section 19(22) RDB Act; bar on alienation of property.

Indian Bank versus Ms United Royal Fab Engineering Private… — Company and Corporate | 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. 253 OF 2023.

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DATE OF DELIVERY OF ORDER I 09lO7l2024

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Indian Bank is a body corporate constituted under the Banking^Companies (Acquisition and Transfer of Undertakings) Act, 1970, having its Corporate Office at 254-260, Avvai Shanmugam Salai, Royapettah, Chennai-600014^{and HeadOffice at} 66, Rajaji Salai, P B no, 1384, Chennai-600001, carrying^{on its business through} various branches, one of the branch at Vill- Balarampur,^{Chingripota Anchal,P.O-} l.4aheshtala, P.S- Budgebudge, South 24 Parganas-7oo140,^{knownas lndian Bank} (erstwhile Allahabad Bank), Chingripota Branch, and also at 14, Indla Exchange Place. 1st Floor, Kolkata-700001, known as lndian^{Bank, StressedAssets} Management Large Branch, within the ,urisdiction^{of this Ld. Tribunal}

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Applicant Bank.

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1. M/s. United Royal Fab Engineering Private Limited^(CINNo. U29253W82011PTC168820), a Company within the^{meaning of CompaniesAct,} 1956 (as amended upto date) having^{its registered offlceat Nabanagarstreet.} Parbangla, Batanagar, Kolkata-700140^{having theirgodownat 77, f4allickpur} Road, Vill- Dakshin Raypur, P.O. Dongaria, P.S Nodakhali,^Dist-South24 Parganas, West Beng al-7 43318.

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1. Shri Debasis Roy, son of Shri Dulal^{Kumar Roy, director of l''l/s. UnitedRoyalFab} Engineering Private Limited, residing at^{Nabanagar Street,Parbangla,Batanagar,} Kolkata-700140.

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1. Smt. Kabita Roy, wife of Debasis^{Roy, directorof M/s. United RoyalFab} Engineering Private Limited, residing at^{Nabanagar Street,Parbangla,Batanagar,} Kolkata-700140.

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1. M/s. Royal Engineering Company, a^{partnership firm, having its registered office} at 77, l4allickpur Road, Vill- Dakshin^{Raypur,P.O Dongaria, P,SNodakhali,Dist-} south 24 Parganas, West Bengal-743318.

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s) M/s. Royal Inspection & Engineering Service, a^{proprietorshipfirm,proprietor} Shri Debasas Roy, son of Shri Dulal^{Kumar Roy, of Holding/PremisesNoF3-} 20/12/1-3, B.B,T. Road Bye Lane-3,^{P.O Batanagar, P.S. l4aheshtala,South24} Parganas-700140.

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Defendants.

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Counsel for the Applicant Bankt^-

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1.4s. Gunja Pachisia, Advocate,

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Set ex-parte on 05/07/2024

JUDGEMENT

The Applicant Bank filed the present O.A. being No. 0.4./253/2023 on 31/03/2023 for recovery of a total sum of Rs,7,96,20,32?/- (Rupees seven crore ninety six lakh twenty thousand three hundred and twenty seven only) from the Oefendants towards Cash Credit and Term Loan together with interest, cost and other usual reliefs.

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The Defendants are served with summons. The defendant appeared but failed to fale any w.s. There was no representation from the defendants subsequen y and the case was fixed for ex-parte hearing on 05/07/2024, and heard ex-parte accordingty.

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The Applacant Eank examined 44 documents through Sri Nishant Shukta, Chief Manaqer, marked as Exhibit Annexure-A-1 to Exhibit Annexure-A-44.

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Heard the Ld. Counsel for the Applicant Bank.

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The point that arises for conslderation is :

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

As stated supra, the Defendant remained absent and did not turn up to controvert the version of the O.A. of Applicant Bank. The Evidence Affidavit coupled with the reqtats in the documents viz., Exhibits Annexure-A-1 to Exhibat Annexure-A_44 marked on behalf of the Applicant Bank, estabrished the claim of the Appricant Sank against the Defendants and oA schedule properties. Hence, I hold that the Defendants are joinUy and severally liabte to pay to the Applicant Bank the clalms made in the OA with future interest and costs.

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In the result, the present Original Application is allowed ex-parte with costs, as under:-

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ORDER

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(1) o.A. No. 253 of 2023 fired by the Appricant Bank is aflowed and debt is determined with cost against the defendants. It is hereby ordered that appricant bank is entiaed to recover from the defendants the total amount to the tune of Rs, 7,96,20,327/- (Rupees seven crore nanety six lakh twenty thousand three hundred and twenty seven only) with pendentelite and future interest @ g.5ovo per annum interest with simple on the amount due from the date of filing of the originar Apprication i.e.3r,/o3/2o23 tifl fufl and finar rearization of the claim amount.

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(2) Amount, if any, paid by the defendants in the loan accounts or amount, if any, recovered by the Applicant Bank after firing of the o.A. the same 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^properties 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/Final Order for repaying of the above mentioned dues, so intimated to them.^In case^{the defendantsfail to} pay the dues within the above mentioned time, the applacant bank is entitled to 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 also^proceed against the defendants^personally to recover the dues in accordance with^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 theapplicantbank} under Section 19 (22) of the Recovery of Debts and Bankruptcy Act, 1993 and^put up the same for issuance of the Certlficate.

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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. Registrar of this Tribunal is directed to deliver recovery certificate in term of the final order/judgement for recovery of the sum against the defendant an favour of the Applicant Eank 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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(8)The parties are directed to appear before the Recovery Officer on 09108/2024 for further action in accordance with law in the event the entare amount is not paid by the said date.

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Accordingly, the Original Application being O.A. No. 253 of 2023 is allowed and stands disposed of.

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

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(Dictated to steno, transcribed by her, corrected, signed and pronounced by me jn the open Court on this the grh day of Jrly . 2024t

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( KAtr4AL DE ) PRESIDING OFFICER,

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Debts Recovery Tribunal-3, Kolkata Order Sheet ( Co ntin uatio n )

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Case No. OA No. 253 of 2023 Indian Bank
Order No.05
Order pronounced (vide separate sheets).
Dt.09/07/2024
h the result, O.A. No. 253 of 2023 is atlowed wtth costs. lssue
( Kamal De )
Presiding Officer
DRT-3, Kolkata

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Debts Recovery^{Tribunal-3,Kolkata} Order Sheet ( Co ntin u atioⁿ )

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CaseNo. O.A./	IndianEank s.UnitedRo ^{alFabEngineer} Pvt ^253/2023	. Ltd.& Ors.
oate ofOrder	Orderwithsignature
OrderNo.04 oL.os10712024	Present:. ForApplicant:^{Ld.AdvocateMs.GunjaPachisia} ForDefendants:^{Ld.Advocatelvlr. P.Pal(VirtualMode)}
	TheRegistryhasissued^{noticetotheDefendantintermsof} order^passedby this^{Tribunal. Ld,LawyerfortheDefendant} appears onvirtualmodeandundertakes^{tofile vakalatnama.lt} appearsthatDefendant^failedtofile^{any w,s. withinthe} stipulatedtime.Applicant^{prayedforhearingof thecaseex'} parte, Thematterispending since2023.Hencerightavailable toDefendantforfilingofW.S, and counter^{evidenceistobe} closed. No moretimecan be^granted.It^{isclosed,TheOA} proceedsforex-parte.HeardtheLdCounselfor theApplicant Reservedfororder. Applicant mayfilewrittennotesofarguments. roO9lO7l2o24fotordet.
	(KamalDe) PresidingOfficer DRT-3, Kolkata

Indian Bank v. Ms United Royal Fab Engineering Private Limited and Ors.

Case brief

What is this about?

What did the court decide?

Indian Bank v. Ms United Royal Fab Engineering Private Limited and Ors.

Case brief

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