Allowed

Punjab National Bank v. Messers Sahina Begum Laskar

DRT19 Aug 2024OA/265/2023

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the applicant bank's original application under Section 19 of the SARFAESI Act for issuance of a Recovery Certificate against three defendants collectively owing over Rs. 1 crore for term loans, cash credit facilities, and emergency credit lines, which were classified as NPAs.

What did the court decide?

Recovery Certificate issued for Rs. 1,13,49,966.90 with future interest against defendants jointly and severally; charges kept alive on mortgaged properties.

Punjab National Bank versus Messers Sahina Begum… — Contract and Commercial Disputes | DRT (2024)

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O A 265/2023ORT-G(,{ah.li

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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,^{Manipur, Mizoram,Arunachal Pradesh& Tripura)}

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Beforo Shri Shiv Sharan^{Dubev.Pr$idinoOfficer}

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O.A. No. 265/2023

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ln the matter ot -

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PUNJAB NATIONAL^{BANK(EBtwhils United Bank of lndia)} B.O. Silchar, Central Road, Silchar District- Cachar,^Assam.

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Applicant

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Vs.

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t. M/S SAHINA BEGUM^LASKAR Proprietor: Sahina^{Begum Laskar} Village- TuPkhana^PartI Near Samiha Filling^Station Silchar Kalain^{Road, Silchar-788025}

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Distric! Cachar,^Assam.

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SAHINA BEGUM^LASKAR Wife of Minhaj^{Uddin Laskar} Proprietor of M/s^{Sahina Begum Laskar} Village- Tupkhana^PartI Near Samiha Filling^Station Silchac Kalain^{Road,Silcha1788025} District- Cachar,^Assam.

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MINHAJ UDDIN^LASKAR Son of Late^{Mirjan Ali Laskar} Village- Tupkhana^PartI Near Samiha^{Filling Station} Silchar- Kalain^{Road, Silchar-788025} District- Cachar,^Assam.

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Def6ndants

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Presencs of^{the Counlel:}

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: Mr.KKNandi, For the Applicant Ms Rochoila^Das' Ms. Susmita^{DeY, Advocates} : None^(Ex-Parte) For the Defendants

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Dated:'19/08/2024

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JUDGMENT

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This is an^{application under section 19 of the Recoveryot Debls Due to Banks}

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and Financial^{lnstitutionsAcl,1993filed by the PUNJAB NATIONAL BANK (Erstwhile}

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Sli,j^{gls,p,.^t"14-} ,.""'nSF<sup>rl ( ORT. Guwemt

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O.A. 265/2023/DRT-Guwahatr

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United Bank of^{lndia), B.O. Silchar, Central Road,Silchar District-Cachar' Assam'} with a^{prayer to issue Recovery Certificate for the sum of Rs' 1'13'/t9'966'90 (Rupees} One Crorg^{Thlrtson Lakhs Forty'Nlns Thou3andNine Hundred Sixty-Slxand} Pab. Ninoty)^{only as on 30.04.2023 against the defendantswith pendenteliteand} future interest^{at therateof 10.05%with monthly reststill realization alongwith cost} and other relief.

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

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The defendant^{no. 1 is a proprietorship firm which is a manufacturer and} supplier of^{RCC Block. The defendantno 2 is the proprietor of the delendant no l} firm.Thatthedefendantno.3inhispersonalcapacityistheguarantorofthecredit facilitiesavailedbythedefendantno.l.Thedefendantno'lrepresentedbyits proprietor being defendant^{no 2 apProachedthe applicantbank for financial} assistance^{for the purpose of her businessby submitting an applicationdated} lg.os.2ol6.Theapplicantbankonconsiderationofthesaidappticationdated 19,08.2018^{sanctioned Torm Loanof Rs15'OO'OOOOO and Cash Creditfacility of} Rs.25,OO,OOO.OO.^{The SanctionLetter as a part of documentation was executedon} 25.09.2018.^{lt was the terms and condilions of the sanction letter dated 25 09 2018} that the^{etfective rateof interest in tho cashctedit facility and termloan facility will} be 10.05%^{p.a. calculated on daily productswith monthly rests subiect to change} as^per bank^{guidelines.Tho defendant no 1 acceptedthe terms and conditionsof} thesanctionLetterandasatokenofacceptancBofthesamethedefendantno'2 being^{proprietor the defendantno 'l has signed in the sanctionletterdated} 25.09.2018^{of having accepted the terms and conditions}

¶27

The defendant^{no l availed of the term loanand cash credit facilities from} the aPplicant^{bank and the defendant no 2 being the proprietorol the defendant} no.lhaveexecutedthefollowingdocumentsdulyfilled-upinfavourofthe applicant^bank:-

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(a) Term Loan Agreement^{dated 24 09 2018and by the said agreement the} '-'o"i""arttta to the terms^{and conditions contained therein} "dr"ed

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s{ir^e\fri{ Pr6sidrng^Oficer \ DRT, Guwahati

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O.A. 2€5l202UDRT€w.h.!

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(b) Hypothecetion of Goods and Book-Debts^{to Secure Cash Credit Facility} ' 'd;ied 24.09.2018 and by the said agreement the defendants agreed to the terms and conditions^{recited therein.}

¶32

The defendani no.3 stood^{as guarantor of the cash credit facility as well as} term loan availed^{by the defendant no1 fromthe applicant bank and as guarantor} of the loan the^{defendant no. 3 oxecuted Agreementof Guaranteedated} 24.09.2018 making^hims€lf iointly^{and severally liable for repayment of theentire} outstanding^{in the loan account of the defendant no.1 with interestto theapplicant} bank.

¶33

The defendant no 1 availed^{of the term loan and cash credit facilitiesfrom} th6 applicant bank^{and as a securitytor repayment of thegaid cash credit and the} term loan facilities^{thedefendantno 3 createdequitable mortgageof land together} with its^piece and^{parc€lmeaauring3 kathas B chattak under dag no 263,Patta} no. 272 and I chattak^{underOagno 254 Patta no 273 totaling landmeasuring 4} kathas both of^{pargana Barakpur, Mouza Topkhana Part-1,Sub Registraroffice} Silchar, District Cachar,^{Assam by daposit of titl6 deedswith the applicant bank on} 06.08.2018. The defendant^{no 3 deposiled with the applicant bank, title deeds such} as Sale Deed no. 2720 dated^{14.06.2018. Deedof rectiticationno 3904 of 2018} The defendant no 3 executed^{letter dated 24.09.2018 confirming depositof title} deeds with the applicant^{bankwith the intentionof creating equitablemortgage'} The defendant no 3 executed^{letter dated 24.092018confirmingdeposit of title} deeds with the applicant^{bankwith the intention of creating equitablemortgage.} The property mortgaged/crsated charge^{by the defendantno 3 with the applicant} bank as a security for^{repaymentof loan availed by defendant no 1 is more} sp€cifically described in Schedul6-A^{(i) of the OA.}

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The valuation of the mortgaged^{property is done by lhe approved valuer of} the applicant bank N.R. Paul^{who have submitted report dated 00.09.2018.}

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The defendant no 2 being lhe^{proprietor of the defondant no.1 approached} the applicant bank for review of the^{termloanand enhancementof cash credit-} n (}.iltl,ab,4h"k* "ffif's#l't{I^o

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O A 265/2023/DRT'Guwahati

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facility by submitting^{an application dated23.09.2019 The applicant bank upon} consideration of the^{said application dated23.09.20'19of the defendantno 1 have} reviewad the term loan of Rs.^{15,OO,OOO.OOand enhanced the cash credit facility} from Rs 25,OO,OOO.OO to^{Rs 65,00,000.OOvidesanctionletterdated12 11 2019' lt} was the terms and conditions^{of the sanction letterdated 12 112019 that the} efiective rate of lnterest^{in cash credit accountwill be '10.10% calculated on daily} products with monthly rests subject to change as^{per bank guidelines Thatthe} defendant no. 1 accepted^{the termsand conditionsof the Sanction Letter and as a} token of acceptance of^{the same the defendantno 2 beingthe proprietorof the} defendant no. t has signed in^{the sanction letterdated12.11.2019of having} accepted the terms and conditions.

¶38

The defendant no^'l availed the^{enhancedcash credit facilities fromthe} applicant bank and the defendant^{no. 2 beingthe proprietorof the defendantno.1} have executed the following documents^{duly filled up in favourof the applicant} bank.

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(a) Agreement for Loan/Cash credit facility/Overdrafr dated^{'14.1'1.2019and} by the said agreement lhe defendants agreed^{to the terms and conditions} contained therein.

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(b) Hypothecation of Goods and Book-Debts to Secure Cash Credit^Facility dated 14.'1 1.2019 and by the said agreement^{the defendants agreed to} the terms and conditions recited therein.

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(c) Master Agreement dated 14.11.2019 and by the said agreement^the defendants agreed to the terms and conditions^{recited therein.}

¶42

The defendant no. 3 stood as^{guarantor of the cash credit as well as term} toan facilities availed by the defendant no.1 from the^{applicantbank and as} guarantor of the loan the defendant no. 3 executed Agreement^{of Guarantee dated} 14.11.2019 making himself iointly and severally^{liable for repayment of the entire} outstanding in the loan account of the defendant^{no.1 with interestto theapplicant} bank.

¶43

The defendant no. 1 availed of the term loan and^{enhancedcashcredit} facilities from the applicant bank and as a security^{for repaymentof the said cash} sAilYs716#*t Pr6siding OfideI | -l tU DRT. Guwahati

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OA 205I2023/DRT-GuMhati

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credit and the^{term loanfacilities the defendant no. 3 executedletterof continuity} dated 14.11.2019^{by which the defendantno. 3 confirmed depositof title deeds} with the applicant^{bank on 06.08.2018with the intsntionof creating equitable} mortgage. That the^{defendantno 3 by the said letter of continuity confirmed that} the mortgage created^{by deposit of title deedson 06 08 2018 shall continueto be} held by the applicant^{bank as additional security for the further liabilityof the} DefendantNolinrespectoftheenhancedlimits'Thepropertymortgaged/created charge by the^{defendant no. 3 with the applicant bankas a security for repayment} of loan availed^{by defendantno l is more specifically doscribed in Schedule-A(i)of} the OA.

¶46

The defendant^{no.'lavailed enhanc€d cash creditfacility and reviewed term} loan from the aPplicanl^{bank and as a securityfor repayment of the saidcredit} facilitias the defondant^{no 2 has created equitable mortgage of landmeasuring4} kathas 5 chattak^{under dag no. 229, Patta no 20 and 7 kathas 1 chattakunder} Dag no 228^{Patta no 307 totaling land measuring11 kathas 6 chattak both of} pargana Barakpur, Mouza^{Topkhana Part-1, Sub Registraroffice Silchar'District} Cachar, Assam and^{land measuring 9 kathas under dag no 695' 306' 408'31 1'} Patta no.^{118,145,57 of pargana Rainagar, Mouza Nischintapur'Sub Registrar} officeSilchar,Districlcachar,Assambydepositoftitledeedswiththeapplicant bank on 14.11.2019^{to securethe credit faciliti6s grantedto dafendantno 1 of} which the defendant^{no. 2 is the proprietor' Thedefendant no 2 deposited with the} applicant bank,^{title deeds such as Sale Deed no 5199 dated27'11 2019and} Deed no 1077 of 2019^{dated 06.03.2019by way of equitablemortgage The} defendantno2executedlettersdatedlS'11'2olgbywhichthedefondantno'2 confirmedtohavedepositedtitledeedswiththeapplicantbankbywayofequitable mortgage as a security^{for repaymentof the credit facilities availedby defendantno} 1. The^{property mortgaged/created chargeby the defendant no 2 with the applicant} bank as a^{securityfor repaymentof loan availedby defendant no 1 is more} specifically described^{in Schedule-A(ii) in respect of land under sale deed no 5'199}

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-ehac0olr^"$"fu'l d ".""**Jlldtt DRT, Guwahan

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0A z!5zo2!/t)RT€ut$di

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of 2018 and scheduls^{No A(iii) in respectof land under saledeed no 1077of 2019} hereto.

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The valuation^{ot the mortgaged propertiesas describedin schedule A (ii)} and Schedule^{A (iii) are done by the approved valuer of the applicant bank Subir} Kumar Roy who^{have submittedrBportsdated 15 10 2019'}

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The detendant^{no 2 b€ingthe proprietor of tho defendant no l approached} the applicant^{bank for t3rm loan underCOVID 19 schemeby submitting an} application^{datedO5.O5.2O2OTheapplicant bank upon considerationoI the said} application of^{the defendani no 2 have sanctioned Demandloan (Covid-1g} Emorgency Credit^{Facility) of Rs.6,5O,ooO Oo, vide sanction letter dated} 11.o5.2O20.|t was the^{terms and conditions of the sanction lotter dated 11 05 2020} that the 6tfec,tiv6^{rate of inter*twillbe 8.25% with monthly rests subiectto change} as^per bank^guidelines.

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ThE defendant^{no I aveiled the Domand loan (Covid'1g Emergency Credit} Facility) trom^{the applicant bank and the defendant no being the propriotor of the} defendantno'1hav6€xscutedthefollowingdocumentsdulyfilledupinfavourof the applicant^bank.

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/el HvDolhacation of Good3^{and Book-Debtsto Secure Cash CreditFacility} ''' li[Jilloi.ibio "no uv the said^{agreement the defendants agreed to} the terms and^{condition3 recited therein}

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tb) Master Aqreement^{dated t1o52o2o and by the said agreement lhe} '-' i"r"no"nti "st""d to the tarms^{and conditions recited therain'}

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Thedelendantno.3stoodasguarantoroltheCavidlgEmergencycredit Facility availed^{by tho d6 sndantno l fromthe apPlicantbank and as guarantorof} the loan the^{defandant no. 3 oxocubdAgreementof Guaranteedated11'05 2020} making himself^{jointly and sevorallyliabloior rePaymontof the entireoutstanding} in the loan account^{ot the defendant no l with interest to the applhantbank'}

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Thedefondantno.2beingtheproprietorofthedefendantno.,lapproached the applicant^{bankfor term loan bv submittins an application dated} " bi8ilfq1gr*r1

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ORT. Guurahati

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O-A. 26512023/DRT€uwahali

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The applicant bank upon consideration^{of thesaidapplication of the defendant no} 2 have sanctioned Guaranteed^{Emergency CreditLineof Rs 10,00,000.00.}

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The defendant no. 1 availed the^{Guaranteed EmergencyCredit Linefrom} the applicant bank and the^{defendant no. 2 as the proprietor of the defendantno l} have executed the following^{documentsduly filled up in favour of the applicant} bank.

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(a) Undertaking and by the said document the^{defendants undertook to} abide by the conditions^{as meniioned therein.}

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(b) Demani Promissory Note dated 26.08.2020^{for Rs.10,00,000.00and by} the said Demand^{Promissory Note the defendant no.2as proprietor of} defendant no. 1 agreed to^pay to^{the applicant bank on demand Rs'} 1O,OO,OOO.OO with interest at the^{effective rale ol 9.25o/o} Per^{annum with} monthly resb.

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(c) Master Agreement dated 26.08.2020 and by the^{sald agreementthe} dsfandants agreod to the^{terms and conditions recited therein.}

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The defendant no 2 confirmed^{and acknowledged the balancein theterm} loan account no 3'110001800000075^{with the applicant bank as on 31.03.2021on} 10.09.2021.

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The defendant no 2 being the^{proprietor of the defendantno 1 confirmed} and acknowledged the balance^{in ths cash credit account no 311000870000'1933} with the applicant bank as on 30.1O.2022^{on 02.'11.2022.}

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The defendant no 3 confitmed^{and acknowledged the balancein the cash} credit accounl no 3110008700001933^{with the aPplicant bank as on 30.'102022on} 02.'11.20?2.

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The defendant no 1 availed the credit^{facilities from the applicant bank butin} violation of all terms and conditions^{of the sanction letter and the documents' the} defendants failed and neglecled to^{abida by the terms and conditions of the} sanction letter and agreement, documents^{as well as defendants failed and} neglecled to repay the loan amount^{with interest.}

¶69

The applicant bank by its^{personal contaclsthrough its oflicers on various}

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sA;aPt ,o..,sfl" 'i;t1m:t6t{'1^I

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OA 265r2023/DRT4uwahati

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occasions urged the defendants to deposit^{the irregular / overdue amount and to} regularize the loan accounts. The defendants did^{not pay any heed to the personal} contacts of the applicant bank and did not^{care to makerepayment of the} outstanding dues in the loan account.

¶73

The defendants havo admitted the^{liabilities to paythe outstanding duesin} the loan accounts by making^paymentsin the^{loanaccounts.}

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The applicant sent demand notice under section^{13(2) of the SARFAESI Act} 2OO2 dated 27.09.2021 upon the defendants^{demanding paymentof the} outslanding dues in the loan accounts.^The defendants^{inspite of having received} ihe said notic€ have failed to^pay ths outstanding dues^{the loan accounts. Theloan} account of the dofendant no 1 became^{NPAand more so due to the negative} attitude of the defendants as statad above.

¶75

As the loan account being the cash credit loan account^No. 3110008700001933 of the detendant no. 1 was running^{extremely irregularand} due to non-paymeni of^principal amount and iniBrest, the^{said accountwas} classified as a non^performing asset on 10.05.202'1. The applicant^bankstopped applying interest in the cash cr€dit account with effect^{from 01.05.2021. Calculation} of Application Amount as on Date of Filing:^-

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a)	Balance ason10.05.2021:	Rs.66,82,088.32
b)	Less Penallnterestcapitalized:	Rs27,043,83
c)	lnterest from dateo101.05.202 TiI30.04.2023	1:Rs. 13,67,218.03
	Total claim :	Rs.83,16,821.24

¶77

Thus a total sum of Rs.83,16,821.24 is due and recoverable^fromthe defendants^jointly and severally with lnterest at tho rate of^{10.10%per annum with} monthly rests.

¶78

As the loan account b6ing the term loan account No. 3110001800000075^of the defendant no. 1 was running extremely^{irregular and due to non}

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Y DRT, Guwahali

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O A. 2652023/DRT-Guwah.li

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installment, the said account was^{classified as a non performingasset on} 10.05.2021. The applicant^{bankstoppedapplying interest in the cashcredit} account with effect from 01.05.2021^{. Calculation of APPlication Amount as on Date} of Filing:^-

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a) Balance as on 10.05.2021 Rs. 10,58,076.50 Rs.^'l,83,376.89 b) lnterest from date ot 0'1.05.2021 riI 30.04.2023 c) Recovery Rs 1,27,683.00 Total claim Rs. 11,13,770.39

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Thus a total sum of Rs.^{11,13,770.39is due and recoverablefromthe} defendants^jointly and^{severallywith interesi at therate of 10.05%per ennum with} monthly rests.

¶84

As the loan account being^{the termloanaccount No. 3110001L00000109of} the defondant no.^{1 was running extremely irrogularand due to non-payment of} installment, the said^{account wasclassifiedas a non performingasset on} 10.05.2021. The^{applicantbank stoppedapplying lnterest in the cashcredit} account with offeci^{from 01.05.2021. Calculation of Application Amount as on Oate} of Filling :-

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a) Balance as^{on '10.05.2021} : Re. 10,24,202.50 b) lnterest from date^{ol 0'1.05.202'l} : Rs. 1,E5,367.54 tifl 30.04.2023 Total claim Rs. 12,09,569.54

¶86

Thus a total sum of^{Rs. 12,09,56954is due and recoverablefromthe} defendants^{jointlyand severallywith intarestai the raie of 10 05 % per annum with} monthly rests.^{The defendantsare joinily and severally liable to pay to the} applicant bank^{Rs. 12,09,569.54with pendentelite and future interestat therateof} 10.05%^per annum^{with monthly rests and costs.}

¶87

As the loan accounl^{being the term loan accountNo 311000PD00204748}

¶88

¶89

oA' 2652023/t'RT4uw'hto

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installment, the said^{account wasclassitiedas a non performingasset on} 10.05.2021. The applicent^{bank stopped applyinglnterestin the cash credit} account wiih effact^{from 01.05.2021. Calculation of Application Amount as on Date} of Filing :-

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a) Balance as on^10.05.2021 Rs.5,94,499,00 b) lnterest from daie^{of 0'1.05.202'l} Rs. 1,15,306.73 rifi 30.04.2023 Total claim Rs.7,09,805.73

¶92

Thus a total sum of^{Rs.7,09,80573 is due and recoverable from the} defendants^{jointly and s€verallywith interestat the rateof 10 05% per annum with} monthly rests. Copy of^{Statementof account Nos3110008700001933'} 311OOO18OOOOOO75,^{3'l l OOO1'l.OOOOOIOg and 311000P000204748dulv certifled} under The Banker's^{Bookof Evidence Act and lndian EvidanceAct is filed with the} OA. The applicant^{bank has also filedherewith calculationof unapplied intereston} the outstanding amount^{of the abovementionedloan accountsfrom 01'05 2021to} 30.04.2023 duly^{c€rtified by the Chief Managerof the applicant bank}

¶93

The four loan^{ac@untstakentogetherthe defondantsare jointly and} severally liable^{to pay to theapplicantbank Rs.83,16,821 24 + Rs 11,13'770 39+} Rs. 12,09,569.54^{+ Rs.7,09,805.73} =^{Rs ',1,',13,49,966.90inclusiveof interesttill} 30.04.2023^{and pendentilite, futurB interest from the dats of filing till realization'} together with^{all expenses and costs.}

¶94

The applk=nt^{bank thus became constrainedto file the present Original} Application for^{the recoveryof R3. 1,13,49,966.90(RupoesOne Crore Thlrt3en} Lekhs Forty-Nlne^{Thousand Nlne Hundred sixty€lxand PaisaNinoty) only as on} 30.04.2023^{along with interest and costof the application'}

¶95

After filing of the^{OA the Tribunal issued notices upon thedefendants thtough} registered^{post and the applicant bank filed serviceraport on 26 09 2023 and brought} on record the^{postalreceiptsalong with track consignment reportwhichshows} that notices have^{been delivered upon the defendants by name Hence s} ffi#'rtr

¶96

DRT, Guwahati

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o'a 26572023/DRT€uw'h'li

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I I

¶99

completed upon the^{defendants.Even after proper service of notice upon the} defendants there^{was no reprssentalionon behalf of the defendantseither by the} counsel or tho^{personand hence the defendants were set ex-parte on 08-11-2023 and} theif right to file wdtten^{statement cum evidenceon affidavit was closed and the mattar} was listed for hearing^{on behalfof the applicant bank}

¶100

Supporting the claim^{of the applicant bankSmt Aniana Das, Chief Manager of} the Applicant Bank^{hasfiled eviten@on affidavit coupled withthe securitydocuments} marked as Exhibit A-1 to^{A-47 supporting the claimof the applicant bank'}

¶101

Heard the learned couns€l^{for theapplicant bankwho prayed for issuanceof} Recovery Certificate^{againsttho defendants as per pleadings madB in the Application'} supported by evidence^{on affidavil of their witnesswho affirmedon oath the execution} ofthesecurityandotherdocumentsbythedefendantsandalsoexecutionoftheirown documents relied upon,^{which have been marked exhibits.}

¶102

Considering the facts and^{circumstances of the case, I am of the considerad} view that the document^{filed by theapplicant bankare supportingthe claimof the} applicant bank and establishing^{theliabilityof the defendants lt is provadthat the} defendanb are iointly^{and severally liable to pay to the applicant bank the claim} made in lhe Original^{Application. Theloans wereobtained and documents have been} executed on 24.09.2018,^{14.11.2019,11.05.2020& 26.08.2020'Bahnce Confrmation} are dated 10.09.202'l^{& 02.11.2022.The accountsbacame NPA on 10 05 202'l and the} oA has been filed on^{26.07.2023. Hence,the OA is filed well within the periodof} limitation and this Tribunal^{havinga jurisdiclionto adjudicatethe Original Application'}

¶103

Considering the^{unchallenged/unrebuttedversion of Smt Anjana Das, the} applicant'switnessandalllhedocumentsmarkedasexhibits,includingdulycertilied copy of the statemant^{of account alongwilh interestcalculation sheet maintained by} the applicant Bank^{in it's regularcourse of business, I hold that the applicantis} entitled to^get the Recovery^{Certificate as prayed for.}

¶104

*,#-r'f'-^? ORT, Guwehati

¶105

or. 26512@!t RT€uw.n.t

¶106

¶107

ln the result, the^plesent Original^{Application No. 265 of 2023is allowed with}

¶108

coSt as under:^-

¶109

(i) The defendants No.^{1, 2 & 3 are.iointly and severally liableto pay to the} applicant bank a sum of Rt.^{1,13,49,966.90(Rup$8 One crorrThirtesn} Lakh3 Forty-Nine Thous.nd^{l{ineHundrod Slxty-Sixand PabaNinety)} only with^pendentelite and^{futureinterest} @10.05%^{p.a. with monthlyrests} from 01.05.2023 till the date^{of full paymenurealizationand also costof the} application.

¶110

(ii) The charge of the certificated^{amount be kept alive on mortgaged propertyi e'} Alllhat^part and^{parcelofland measuring 3 kathasI chatak under dagno 263} of^patta no 272 and I^{Chatak undar patta no 273 dag no 26'4 thus totaling 4} kathas with struclures standing^{thereon covered of pargana Barakpur Mouza} Topkhana^part l, P.S^{and SubRegistraroffice Silchar DistrictCachar Assam} and is bounded and^{butted by North: Road;South:RaiM/ayline; EastHouse} of Haji Baktar Uddin^{Laskar; West: Musstt Amirun Nassa Laskar, as described} in Schedul+A(i) of the^{OAtill the amountis realizedin full.}

¶111

(iii) The charge of lhe certilicated^{amount b€ kept alive on mortgagedproperty,} i.e. All that^part and^{parcelof land measuring4 kathas 5 chatak underdag no} 22g of^pafa no 20^{and 7 kathas 1 chatak underpatta no 307 dag no 228 thus} totaling 11 kathas 6 chatak^{of pargana Barakpur Mouza Topkhana partl, P S} and Sub Registrar^{ofiiceSilchar District Cachar Assam and is boundedand} butted by North:^{Road; South: Railway line; East:House of Safiq-Ud-din} Barbhuyan i West: Land^{of dag no 227 and 228' as describedin Schedule-} A(ii) of the OA till the amount^{is realizedin full.}

¶112

(iv) The charge of the certificated^{amountbe kept alive on mortgagedproPerty,} i.e. All that^part and^{parcel of land measuring 3 kathas under dag no 695 Patta} no 1'18, 1 katha under^{patta no 145 dag no 306, 2 kathas under patta no 57} dag no 4Og and 3 kathas^{under dag no 311 thus totaling I kathas of mouza} Nischintapur Part^{2, Pargana Rajnagar P.S. and Sub RegistrarOflice Silchar}

¶113

d^bda4'q'L"L ,.",",oj3(4{⁰ DRT. Guwehati

¶114

¶115

O.A. 265l202UoRT'GRrhali

¶116

Distric't Cachar Assam and^is bounded^{and butted by North: Road: South:} Railway line; East :House of^{Nur Ahmed Barbhuyan;West: Houseof Rabijul} Ali Laskar, as describedⁱⁿ Schedule-A(iii)^{of the OA till the amount is realized} in full.

¶117

(v) The applicant bank b entitled to^{proceed against the secured items towards} recovery of the debts.

¶118

(vi) The applicant bank is abo entitled^{to proceedagainst the personal assets and} properties of the defendants tovvards recovery^{of th€ dues.}

¶119

(vii) The applicant bank is antitled to the costs^{of the O.A. which includes the} advocate fees of the applicant^{bank.Applicant is directed to file the cost memo} within 2 w€eks from today.

¶120

(viii) lssue Recovery Cedmcate accordingly^{for a sum R3. 1,13,49'966'90(RuPeos} Ono Cror€ Thift.on^{Lakh! Forty-NineThousand Nino Hundrod Sixty-Six} and Prisa Nlnety)^{only in favour of the applicantbank against the defendants} No. 1,2 & 3.

¶121

(ix) Communicate copy of this order^{to lhe concemad parties'}

¶122

This order is dictated and^{conecledby the undersigned'}

¶123

Judgment dated^{19s August' 2024, signed and pronoun@d in the Tribunal} today under my signature.

¶124

Copy of the JudgmenuFinal^{Order be uploadedin the Tribunal's Websiteand} rite be consisned^{ro Rocord} Room.

¶125

S[tt{.0.%iffif (Shiv Sh.ran Dut'ay)l^I Pr33iding Oflicor DRT, Guwahati.

Punjab National Bank v. Messers Sahina Begum Laskar

Case brief

What is this about?

What did the court decide?

Punjab National Bank v. Messers Sahina Begum Laskar

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

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