Allowed

Uco Bank v. Vivekanand Sharma and Anr.

DRT2 Dec 2024OA/38/2023

Case brief

AI extract

What is this about?

In an ex-parte Original Application, the Debt Recovery Tribunal allowed UCO Bank's claim for recovery of a term loan principal, interest, and costs against two defaulting borrowers who failed to appear, imposing a moratorium on asset alienation and ordering the issuance of a recovery certificate.

What did the court decide?

Allowed O.A. No. 38 of 2023 with costs; Debt determined as Rs. 1,20,99,619.85 with future interest; Defendants debarred from disposing of properties; Recovery certificate to be issued under Section 19

Uco Bank versus Vivekanand Sharma and Anr. — Banking and Recovery | DRT (2024)

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BEFORE THE DEBTS RECOVERY TRIBUNAL-III KOLKATA PRESENT I. SRI KAMAL DE

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PRESIDING OFFICER

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O.A. No. 3a of 2023

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DATE OF DELMRY OF ORDER | 2/1212024

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UCO Bank, a body corporate constituted under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 having its Head Office at 10, L T. t',t. Saranr, P.S. Hare Street, Kolkata-700001 and carryang on banking business amongst other places at ats Budge Budge Branch at Salt Lake Sector - 1 Branch, P.O. &^p.S. Bidhannagar, Kolkata -700064, commonly known as UCO Bank, Salt Lake Sector - I Branch, hereinafter referred as the "Applicant Bank", within the jurjsdiction of this Learned Tribunal,

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Applicant Bank

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-Versus-

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1. Mr. Vivekananda Sharma, son of Late sahdeo sharma, c/o. oM shakti Enterprise, B/19/Hl9, cobinda Khatik Road (near DND Homeo Hospital), Kotkata 700046 and also at -

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V 44112/1, Debendra Chandra Dey Road, Kolkata -700015 and also at

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Tarulra 3'd Lane, P,O. Krishnapur,^p.S. Rajarhat, District - 24 parganas (North), PLn - 700102

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1. Mrs. Vineeta Sharma. Wife of Mr. Vivekananda Sharma resident of Tarutia 3.d Lane, P.O. Krishnapur, P.S. Rajarhat, District - 24 parganas (North), pin _ 700102 and also at -

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V 44/1211, Debendra Chandra Dey Road, Kotkata -7OOO15

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Defendant

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Counsel for the Applicant Bank:

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t4d, Babulal Mollah. Advocate

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Set ex-parte on 22/11/2024

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]UDGEMENT

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Ihe Applicant Bank filed the present OA being No. O.A. 38 of 2023 on 13/Ot/2O23 tot

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recovery of a total sum of Rs, 1,20,99,619.85/- (Rupees one crore twenty lakh ninety nine thousand srx hundred nineteen and paise eighty five only) from the Defendants towards term loan logether with interest, cost and other usual reliefs.

The Defendants are served^{with summons. The defendantsdid not appear,} as there was^no representation from the^{defendants,the case wasfixedfor ex-partehearing} on 22/1!12024, and heard ex^parte accordingly.

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The Applicant Bank examined^{14 documentsthrough Mr. DebapriyoSinha,} Senior lYanager marked as Exhibit Annexure - A to Exhibit^Annexure -^M.

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Heard the Ld. Counsel for the Applicant^Bank.

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The poinl that aflses for consideration^{is :}

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whether the Applicant Bank is entitled to the claim^{made in the oA againstthe Defendants} and OA schedule^properties as^prayedfor?

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As stated supra, the Defendant remained absent and did^{not turnup to controvert the} version of the O.A. of Applicant Bank. The Evidence Affidavit coupled with the^recitalsin the documents viz,, Exhabit Annexure^- A to Annexure - M marked on behalf of the Applicant 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 liable to pay to the Applicant Bank the claims 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. 38 of 2023 filed by the Applicant Bank as allowed and debt is determined wrth cost against the defendants. tt is hereby ordered that applicant bank is entitled to recover from the defendants the total amount to the tune of Rs. 1,20,99,619.85/(Rupees one crore twenty lakh ninety nine thousand six hundred nineteen and paise eighty frve only) with pendentelite and future interest @ 11.00^o/o per annum interest with smple on the amount due from the date of filing of the Oriqinal Application i.e. 13/01/2023 till full and final realizatjon 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 filing of the O.A. the same be taken into account while 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 defendants fail to pay the dues within the above mentioned time, the applicant 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 immovabte) and also proceed against the defendants personally to recover the dues in accordance wrth law.

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(5) Let the Certificate of Recovery be drawn up by Ld. Reqistrar forthwith in terms of ludgemeht for issuance of the same against defendants in favour of the appticant bank under Section 19 (22) ot the Recovery of Debts and Bankruptcy Act, 1993 and put up the same for issuance of the Certificate.

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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 thas Tribunal is directed to deliver recovery certificate in term of the final order/ludgement for recovery of the sum agajnst the defendant in favour of the Applicant Eank under Section 79 (22) of the Recovery of Debts due to the Bank and Financial lnstitutions Act, 1993 now known as Recovery of Debts and Bankruptcy Act, 1993.

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(B) The parties are directed to appear before the Recovery Offi.er on 3lOt/2O25 for further action in accordance with law in the event the entire amount ls not paid by the said date.

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Accordingly, the Original Application being O.A. No. 38 of 2023 is altowed and stands disposed of.

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

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(orctated to steno, transcnbed by hrm, corrected, srgned and pronounced by me n the open Court on th s 21d day of D€cember, 2024 )

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( KAMAL DE ) PRESIDING OFFICER

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som/

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Debts Recovery Tribunal-3, Kolkata Order Sheet

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( Co nti n uatio n )

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CaseNo.OAN	o.3al2023 UCOBankVs.Vivekananda Sharma & Anr.
OateofOrder	Orderwithsignature
OrderNo.7 ot.2l t2/2024	Order pronounced(videseparate sheets).
	IntheresLrlt,O.A. No. 38of2023 isallowedwithcosts.Issue Recovery CertiFicateaccordingly.
som	(KamalDe ) PresidingOfficer DRT-3, Kolkata

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

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Case No. OA/ 3a/ 2013
uco Bank vs. vivekanand; Strarmi E nni.
Date of Order
Order with signature
Order No.6
Present:,
Dt.22/ 11/ 2024
For Applicant : Md. Babulal Mollah, Ld Counsel
For Defendants : None
The Registry has issued notice to the Defendant in terms of
order passed by this Tribunal. Defendant has not turned up
despite the fact that the notices have been served upon the
Defendant. Applicant prayed for hearing oF the case ex-parte.
The matter is pending since 2023. Hence rjght available to
Defendants for filing of W.S. and counter evidence is to be
closed. It is closed. The OA proceeds for ex-parte. Heard the Ld
Counsel for the Applicant. Reserved For order.
Applrcant may file written notes of arguments.
( Kamat De )
presjdjng Officer
DRT-3, Kolkata

Uco Bank v. Vivekanand Sharma and Anr.

Case brief

What is this about?

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Uco Bank v. Vivekanand Sharma and Anr.

Case brief

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