Allowed

Punjab National Bank v. Ms Amro Fashions and Ors.

DRT19 Jul 2024OA/388/2022

Case brief

AI extract

What is this about?

In an ex-parte hearing, the Debts Recovery Tribunal allowed the Pancjab National Bank’s application for recovery of a term loan defaulting at Rs. 39.84 lakhs, directing recovery measures and asset disposal permissions.

What did the court decide?

Recovery Certificate to be issued for Rs. 39.84 lakhs with interest; defendants debarred from alienating properties; 30-day repayment period granted with threat of asset sale.

Punjab National Bank versus Ms Amro Fashions and… — Contract and Commercial Disputes | DRT (2024)

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BEFORE THE^{DEBTS RECOVERY TRIBUNAL-IIIKOLKAIA} PRESENT !^{- SRI XAMAL DE}

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PREStDtNG^OFFICER

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o.A. No.3A8^{0f 2022}

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DATE OF DELIVERY^{OF ORDERI tglO7l2o24}

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PUNJAB NATIoNAL^{BA K (Erstwhile United Eank of India)'a body corporate} constituted under^{theBankingCompanies(AcquisitionandTransfer of Undertakings)} 1", igio,^{havingits Headoffice at PlotNo 4, sector - 10' Dwarka'New Delhi-} fioozs una its^{Sastra circle at 141, AmtalaRoad, (NearPadmapukur)'Po'} iaruipur, District -^{South24 Parganas and at all materialtimesit carriedonand} carries on Banking^{Businessat several places of India,including the present oneat} its^granctr Office^{at tvtograhatBranch,P.o.Mograhat,P S' Mograhat' District - South} 24 Parganas, Pin -^{743355,commonlyknown as MograhatBranch'} .hereinafter referrej as the "Applicant^{Bank",within the jurisdictionof this LearnedTribunal}

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... Applicant Bank

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-Versus-

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l. M/s Amro^{Fashlons, a partnershipflrm,carryingon its business at Village -} t.,lotlacnaklsangrampur),SeikhPara,P.o.Khankhariabazar,P.S.Mograhat,DistrictSouth 24 Parganas,^{Pln - 743355}

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Md Munnaf Alisk,^{sonof HanifAlisk, a partner of M/s AmroFashionsof Village} Mollachak^{(Sangrampur),SeikhPara,P.O Khankhariabazar,P S Mograhat' District -} South 24 Parganas,^{Pin - 743355}

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3, l.td Abbasuddln^{Sk,son of Hanifsheik,a partner of M/s AmroFashionsof Villase -} t'lottactrat lsangrampur),^{SeikhPara,P.o.Khankhariabazar,P.s. Mograhat,District_} South 24 Parganas,^Pin -⁷⁴³³⁵⁵

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t'tainuddin Shlelq^{sonof Hanif sheikof Village - villageMollachak(sangrampur)'} Seittr^{para,P.O. Khankhariabazar,P.SMograhat,District - South24 Parganas'Pin -} 743355

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''. Defendants

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Counsel for the^{APP|icant Bank:}

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Onkar GangulY,^Advocate

Set ex-Parte on

alo1l2024

]UDGEMENT

The Applicant^{Bank filed the presentOAbeingNoO A 388 of 2022on1510712022tot} recoveryofatotalsumofRs.38,84,212.91/-(Rupeesthirtyeightlakheightyfourthousand two hundred twelve^{and paise nln€ty one only) from the Defendantstowardsterm loan} together wlth^{interest, cost andother usual reliefs'}

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The oefendants are served^{with summons. The defendantsdid not appear, as therewas no} repres€ntatlon from the defendants,^{the casewas flxed fgr ex-patte hearlng on alOT/2024'} and heard ex-parte accordinglY.

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The Appllcant Bank examlned^{32 documentsthrough Mr. Sankar Mondal, Senior Manager,} marked as Exhibit Annexure - A to^{Exhiblt Annexure} -^A/31.

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Heard the Ld. Counsel for the^{AppllcantBank.}

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The point that arises for consideration^{is :}

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whether the Applicant Bank ls entltled to the claim^{made ln the OA againstthe Oefendants} and OA schedule^propertles as^prayed for?

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As stated supra, the Defendant remained absent and did^{not turnup to controvert the} verslon of the O.A. of Applicant Bank, The Evidence Affidavlt coupled^{withthe recltals ln the} documents viz., Exhiblt Annexure^- A to Annexure - A/31 marked on behalf of the^Applicant Bank, establlshed the clalm of the Applicant Bank agalnst the Defendants and OA schedule properties. Hence, I hold that the Defendants are rolntly and severally llable to pay to the Applicant Bank the claams made in the OA with future lnterest and costs.

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In the result, the present Orlginal Appllcation is allowed ex-parte with costs, as under:-

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ORDER

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(1) O.A. No, 388 of 2022 filed by the Applicant Bank is allowed and debt is determined with cost against the defendants. It ls hereby ordered that appltcant bank is entided to recover from the defehdants the total amount to the tune of Rs. 39,84,212.91/_ (Rupees thirty eight lakh eighty four thousand two hundred twelve and paise ninety one onty) with pendentelite and future interest @ 9.75olo per annum interest with simple on the amount due from the date of fitang of the Originat Apptication i.e. tS/O7l2O2Z ti fu and final realization 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 Eank 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 JudgemenvFinal Order for repaying of the above mentioned dues, so antimated to them. In case the defendants fail to pay the dues wathtn the above mentioned fime, the apptacant bank is entitled to recover its dues by sale of secured assets, if any. Applicant bank is also entifled 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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(s) Let the Certlflcate of Recovery be drawn up by Ld. Registrar^{forthwithin terms of} Judgement for lssuance of the same agalnst^{defendantsln favourof the applicantbank} under Sectlon 19⁽²²⁾ of the Recovery of Debts and^{BankruptryAct, 1993 and put up} the same for issuance of the Certiflcate,

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(6) Ld. Recovery Officer shall^{reallzethe amount as perthe RecoveryCertiflcatefrom the} defendants ln accordance with law.

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(7) Ld. Reglstrar of thls Tribunal is directed to^{deliver recoverycertificatein termof the flnal} orderljudgement fo. recovery of^{the sumagainstthe defendantln favourof the} Applicant Bank under Sectlon^{19 (22) ol theRecoveryof oebts due to the Bankand} Flnancial tnstitutions Act, 1993 now known^{as Recovery of DebtsandBankruptcy Act,} 1993.

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(B) The partles are directed to appear before the^{RecoveryOfiicer on 2OlOBl2O24tor tunhet} action in accordance wlth law^{in the event the entire amountls not paid by thesaid} date.

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Accordlngly, the Orlglnal Applicatlon being O.A.^{No. 388 of 2022 is allowed and stands} dlsposed of.

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Copy of the JudgemenvFinal Order be uploadⁱⁿ the^{Trlbunal! website'} Flle ls conslgned to the Record Room.

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(Oictated to stcno, transcaibad Dy her, con€ctedr slgned and Pronounced by rie ln thc op€at Court on thls 19ri day of July, 2024 )

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( KAMAL D;) PRESIDING OFFICER

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

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Case No, OA No. 384/2022 Punjab National Bank vs, M/s amro Fashions^{& ors.}

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DateofOrder	orderwithsignature
OrderNo,6 ot.tg/0712024	Order^{pronounced (vide}separate sheets).
	Intheresult, O.A.No. 388of2022is allowedwlthcosts. Issue
	RecoveryCertlficate accordingly.
som	(^(amalDe) Presiding Officer DRT-3,Kolkata

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

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CaseNo,oAl3	88/2022 PunjabNationalBankvs. M/sAmro^{Fashions& Ors.}
Dateoforder	Orderwithsignature
OrderNo.5 Dt.at07/2024	Present:. ForApplicant:Mr. Onkar Ganguly,^LdCounsel ForDefendants:None
som	TheRegistryhas^{issued noticetotheDefendantinterms of} order^passedby^{thisTribunal.Defendanthasnot turnedup} despitethe fact^{thatthenotices have been serveduponthe} Defendant. Applicant^{prayedforhearingofthecaseex-parte'} Thematterls^pendingsince^{2022.Hencerlghtavailabletosole} Defendantforfilingof^{W.S.andcounterevidenceistobe} closed.Itlsclosed.^{TheOA proceedsfor ex-parte.HeardtheLd} Counselfor theApplicant^{Reservedfororder.} Applicant mayfilewrltten^{notes of arguments.} lo7910712024^{tor otder.}
	(KamalDe) Presiding Officer DRT-3, Kolkata

Punjab National Bank v. Ms Amro Fashions and Ors.

Case brief

What is this about?

What did the court decide?

Punjab National Bank v. Ms Amro Fashions and Ors.

Case brief

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What did the court decide?

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