Allowed

Bank of India v. Swarup Palit

DRT5 Jul 2024OA/34/2022

Case brief

AI extract

What is this about?

In this ex-parte order, the Debts Recovery Tribunal allowed the Bank of India's original application for recovery of a term loan against Swarup Palit who failed to appear. The Tribunal determined the debt, granted time for repayment, and directed issuance of a recovery certificate.

What did the court decide?

Amount of Rs. 22,57,407.29/- determined as due with future interest; defendant debarred from disposing properties; Recovery Certificate to be issued.

Bank of India versus Swarup Palit — Banking and Recovery | DRT (2024)

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EEFORE THE DEBTS RECOVERY TRIBUNAL-ItI KOLKATA PRESENT: -sRI KAMAL DE,

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PRESIDING OFFICER.

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O.A. No, 34 OF 2022.

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DATE OF DELMRY OF ORDER I OSIOT/2C24

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Bank of India, a company incorporated under the Banking Companies (Acquisitjon and Transfer of Undertakings) Act, 1970 and having its iegistered offlce at star House, C-5, G-Block, Bandra Kurla Comptex, eandra (East), U-umUat_+OOOlr anO tts branch office at Salt Lake Branch, 1st Ftoor, DD_2, Sector_r, Sult f_ut", <oftuu700064, P.S. Badhannagar North, West Bengat, withan the Jurisdiction of this Ld. Tribunal.

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Applicant Bank.

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-Versus-

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Swarup Palit, son of Manotosh palit, having office at 64/4A/1C, Dt. Suresh Chandra Banerjee Road, Eeliaghata, Kotkata-7OOOtO.

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Defendant.

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Counsel for the Applicant Bank: -

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Aritra Kumar Roy, Advocate,

Set ex-parte on

27 /06/2024

]U DG E IY ENI

The Applicant Bank fited the present O.A. being No, O.A.|34/2O22 on O6/OL/2O22 fot recovery of a total sum of Rs. 22,57,4O7.29/- (Rupees twenty two lakh fifty seven thousand four hundred seven and paisa twenty nine only) from the Defendants towards Term Loan 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 271O5/2O24, and hea rd ex-parte accordinqly.

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The Applicant Bank examined 22 documents through Sri Angom Ramchandra Singh, Chief Manager marked as Exhibit Annexure-A to Exhibit Annexure-G.

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Heard the Ld. Counsel for the Applicant Bank.

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The point that arises for consideration is :

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

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As stated supra, the Defendar vers on of the o.A. documents viz., Exhiblts Anne ", ^,,,,_;:^{;"J;ll;i"J::::i#:JX:::1,::} I,..;I::"Iir ",," to Exhibit Annexure-G marked on behalf of the Applicant Bank, established ,n"t"-o

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schedure propert es. r"".",, ;',:l[::;:";:ff:::.:],::,.fi i::ff#lfl::J:::, to the Applicant Bank the claims made in the OA with future intercst anc, costs.

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ln the result, the present O.iginal Application is allowed ex-parte with costs, as under:-

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ORDER

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(1) O.A. No. 34 of 2022 fited by the Appticant Bank is a owed and debt is determjned with cost against the defendants. It as hereby ordered that applicant bank is entiued to recover from the defendants the total a r ount to the tune ot Rs' 22,57,4o7 2g/- (Rupees twenty two lakh

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fifty seven thousand four future interest ,r.rooro^{''nOt"O sevenand paisatwenty nine only) with pendenteliteand} per annum jnterest with simple on the amount due from the date

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of firing 0f the originar Appricataon i,e. 06/01/2022 til fufl and finar rearization of the craim amount.

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(2) Amount, if any, pald by the defendants in the loan accounts or amount, if any, recovered by the Applicant Bank after fiting of the O.A. the same be taken into account white 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) Oefendants are debarred from disposing, altenating or dealing with any of the propertaes 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/Finar order for repaying of the above mentioned dues, so intimated to them. In case the defendants fail to pay the dues within the above mentioned time, the applicant bank js entifled to recover its dues by sale of secured assets, if any. Applicant bank is also entjued to proceed against personal properties of the defendants (Both movable and tmmovabte) and also proceed against the defendants personary to recover the dues in accordance with raw.

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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 jn favour of the applicant bank

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under Section 19 (22) of the Recovery of Debts and Bankruptcy Act, 1993 and put up the

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same for issuance of the Certificate.

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(6)Ld. Recovery Officer sha realize the amount as per the Recovery CertiRcate from the

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defendants in accordance with law.

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(7)Ld. Registrar of this Tribunal is directed to deliver recovery certiftcate jn term of the final order/judgement for recovery of the sum against the defendant in favour of the Appticant

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Eank under Section 19 (22) of the Recovery of Debts due to the Bank and Financrat Instrtutions 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 O7/OA/2024 fot ft)tther action tn accordance with law in the event the entire amount is not pard by the said date.

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Accordingly, the Original Application bejng O.A. No. 34 of 2022 is a owed and stands disposed of.

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

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(Drdatec, to steno, transcribed by her, corrected, srqnec, and pronounced by me in the open court on the 5rh day of )uly , 2024\

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PRESIDING OFFICER.

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

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Case No. OA No,34 of 2O2- Bank of India Vs, Swarup patit
.t
Date of Order Order with signature
Order No.06
Order pronounced (vide separate sheets).
Dt.05t0712024
In the result, O.A. No. 34 of 2022 is allowed with costs.
Recovery Certificate accordingly.
( Kamal Oe )
Presiding Officer
DRT-3, Kolkata
5S

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

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CaseNo.O.A.	/34l2022 BankofIndiaVs.Swarupritit
	Orderwithsignature
OrderNo.05 ot.27/06/2024	Present:.
	ForApplicant:Ld.AdvocateAritraKumarRoy ForDefendantsINone
	Counselfor the Applicant.Reservedfororcter. Applicant may filewrittennotesofarguments. To05/07/2024for order. I TheRegistryhasissued noticetotheDefendantinterms of orderpassedbythisTribunal.Defe despitetheractthatthe"",,."r;#";t":":"[tilj;: Defendant. Applicant prayedforhearingofthecase ex-parte. Thematterispendlng since2022.Hence raghtavailabletosole DefendantforfilingofW.s.andcounterevidenceistobe closed.Itisclosed.The OA proceedsforex-parte.HeardtheLd
	(Kamat De) PresidingOfficer DRT-3, Kotkata

Bank of India v. Swarup Palit

Case brief

What is this about?

What did the court decide?

Bank of India v. Swarup Palit

Case brief

What is this about?

What did the court decide?

What the court decided

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Issues for consideration

Statutes considered

Parties & counsel

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