Allowed

Punjab National Bank v. Ms Biswas Trading

DRT3 Apr 2024OA/385/2022

Case brief

AI extract

What is this about?

An ex-parte original application filed by a Bank for recovery of debt. The Defendants did not appear. The Court held the Defendants liable and allowed the application for recovery of the principal amount, interest, and costs, directing issuance of a Recovery Certificate.

What did the court decide?

Allowed recovery of Rs. 20,83,139.64 with interest; declared Defendants jointly and severally liable; directed issuance of Recovery Certificate under RDB Act.

Punjab National Bank versus Ms Biswas Trading — Banking and Recovery | DRT (2024)

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KoLKATA

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BEFoRE^rHEDEBrs lii:]rftt;l',TlsAL-rrr

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PRESIDING^OFFICER'

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o'A^{No' 385OF 2022'}

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DAaE^{Of DELIVERYOF OROERIorl04l2024}

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'#'"'{i+ g#f:,1qgiii;'i-,1i :#;iffi'ffi

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lff.1: ffi^{,:T;'i;fi',lilii"I'"i i;'"0'} "'o'""''

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"' Applicant^Bank'

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-Versus-

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:i:Ij]1:'i] I.:[,:i,3fil"X , i{i;",?I3i,l.il#,,!l:T::ffi iilil"1ii"rr."t"^zcioii4,west "il,3.l'fi:[,^Bpnoallndia ' i'::'iTl Resldentiat^{Address at:- v,,,ug"-it'u-nti,Post office-Gopalnagar,P.s.-Bonqaon,} ts=.'illi-'n".,"i,^{1o o-",sanas,Pin aode-743710' westBengal'India}

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Defendants.

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Counsel for the Applicant Bank:

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Swastik Saha, Advocate,

Set ex-parte on

01/03/2024

J UDGE [1ENT

The Applicant Bank fited the present O.A. being No, O.A./385/2O22 on 72/A7 2022 far recovery of a total sum of Rs, 20,83,139.64l_ (Rupees twenty lakh eighty three thousand one hundred thirty nine and paisa sixty four onry) from the Defendants towards cash credrt together with interest, cost and other usual reljefs.

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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 01/03/2024, and heard ex,parte accordingly.

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The Applicant Bank examined 15 docLlments through Sri S. Balaji, Chief Manager marked as Exhibit Annexure-A to Exhibit Annexure_K.

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Heard the Ld. Counsel for the Applicant Bank.

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'lhe pornt that arises for constderatron rs :

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

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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 coupted with the recitals in the documents viz., Exhibits Annexure-A to Exhibit Annexure-K 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 severa[y 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

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(1) O.A. No. 385 of 2022 filed by the Applicant Bank is allowed and debt js determined with cost against the defendants. It is hereby ordered that applicant bank is entitled to recover from the defendants the total amount to the tune of Rs. 20,83,139.64/- (Rupees twenty lakh eighty three thousand one hundred thirty nine and paisa sixty four only) with pendentelite and future interest @ 12.70olo per annum interest wjth simple on the amount due from the date of filing of the originar Apprication i.e. 72/07/2022 til fu 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 filing of the O.A. the same be taken into account while arriving at the exact amount of dues/debt payable by the defendants. Accordingty, pendentetite 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 withan the above mentioned time, the applicant bank is entiued to recover its dues by sale of secured assets, if any. Applicant bank ls also entafled 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 the applicant bank under Section 19 (22) of 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 this Tribunal is directed to deliver recovery certificate^{in term} of^thefinal orderrudgement for recovery of the^{sum against the defendantin favourof theApplicant} Bank under Section 19⁽²²⁾ of the Recovery^{of Debtsdue to the Bank andFinancial} Institutions Act, 1993 now known as Recovery of Debts^{and BankruptcyAct,1993,}

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(B)The parties are directed to appear before the Recovery Officer on 03/05/2024^{for further} action in accordance with law in the event the^{entire amountis not paidby the saiddate.}

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Accordingly, the Original Application being O.A.^{No. 385 of 2022is allowedandstands} disposed of.

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Copy of the Judgement/Final Order be uploadedⁱⁿ the^{Tribunal's website.} File is consigned to the Record Room.

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(Dictated to steno, transcribed by her, corrected, stgned and pronounced by me in the open court on the 3'd day of April, 2024)

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(.KAMAL DEFPRESTDING OFFICER.

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Debts^{RecoveryTribuna!-3, Kolkata} Order Sheet (Continuation)

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taseno,ol^No	nun;-unationar^{e-antvs'M/sBiswasTrading} ^{.385 of2022}
	Orderwith^signature
Order^No. Dt.o3l04^/2024	Order^{pronounced (vide separatesheets)} Intheresult,^{oA No385of2022 isallowedwith costslssue} RecoveryCertificate^accordingly'
	(Kamal De) PresidingOfficer DRT-3, Kolkata

Punjab National Bank v. Ms Biswas Trading

Case brief

What is this about?

What did the court decide?

Punjab National Bank v. Ms Biswas Trading

Case brief

What is this about?

What did the court decide?

What the court decided

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