Allowed

State Bank of India v. Trinath Paul

DRT4 Mar 2024OA/403/2022

Case brief

AI extract

What is this about?

The Tribunal allowed an ex-parte application by State Bank of India for recovery of a term loan debt of approximately Rs. 24.10 lakhs against Sri Trinath Paul. The debt was determined with future interest, and a recovery certificate was directed to be issued under the RDBA, 1993.

What did the court decide?

Recovery of Rs. 24,10,395 with interest; issuance of Recovery Certificate; restriction on alienation of assets; 30-day repayment period.

State Bank of India versus Trinath Paul — Banking and Recovery | DRT (2024)

¶1

¶2

BEFORE THE DEBTS^{RECOVERY TRIBUNAL-IIIKOLKATA} PRESENTI -SRI KAMAL^DE.

¶3

PRESIDING OFFICER

¶4

O.A. No. 4o3 of²⁰²²

¶5

DATE OF DELTVERY^{OF ORDERIO4IO3I2O24}

¶6

State Bank of India,^{a banking institutionand a body corporate constituted'} incorporated under^{theprovisions of the State Bank of IndiaAct, 1955 having its} central Office at State^{Bank Bhawan, Madam Cama Road, lYumbai-400021 andlocal} Head Office at 1, Strand^{Road, Kolkata-7OOoO1 and carryingon their banking} business inter alia^{amongst othersat their branch officeat Garulia Branch' Garulia} Main Road, P,O.^{Garulia,District 24 Parganas(North), West Bengal - 743133'} commonly known^{as State Bankof India,Garulia Branchrepresented by SMECCC'} Bidhannagar,^{4th FIoor, 1/16,v.I.P. Road,Kolkata -700054,P SBidhannagar'} hereinafter referred^{as the "Applicant Bank",within the iurisdiction of thisLearned} Tribunal

¶7

.-. Applicant Bank

¶8

-Versus-

¶9

sri Trinath Paul. son of Shibu Paul, carrying^{on business as proprietor under the} I4/s Ner4 Krishna^{lewellersfrom Kowgachi More,Shyamnagar} name and style^of (CT), Shyamnagar, District - 24 Parganas^{(North),West Bengal - 743127}

¶10

¶11

Counsel for the APPlicant^Bank:-

¶12

Defendant

¶13

Anirban Pramanick,^Advocate

Set ex-Parte^on

5/0212024

]UDGEMENT

present OA being No. O.A./403/2022^{on 26/07/2022fot} The Applicant^{Bank filed the} 24,10,3951-^{(Rupees twentyfour lakh ten thousandthree} recovery of a total^{sumof Rs.} the Defendants towards^{term loan together withinterest,} hundred ninety^five only) from cost and other^usual reliefs.

¶22

The Defendants^are served with^{summonsThe defendantsdid not appear, as therewas no} representation^from the defendants,^the case was fixed^{for ex-parte hearing on 5lo2/2o24,} and hea rd ex-Parte accordinglY.

¶23

The Applicant^{Bankexamined13 documentsthroughParamita Saha' Chief l'4anager marked} as Exhibit Annexure-A^{to Exhibit Annexure-K'}

¶24

Heard the Ld.^{Counselfor the ApplicantBank}

¶25

¶26

The^point that arises for consideration^{is :}

¶27

Whether the Applicant Bank is entitled^{to the claim made in the OA againstthe Defendants} and OA schedule^properties as^{prayed for?}

¶28

As stated supra, the Defendant^{remained absentand did not turn up to controvert the} version of the O,A, of Applacant Bank.^{The EvidenceAffidavitcoupled with the recitals in the} documents viz., Exhibits Annexure-A^{to Annexure-Kmarked on behalfof the Applicant} Bank, established the claim of the^{Applicant Bank against theDefendantsand OA schedule} properties, Hence, I hold that the Defendants are iointly and severally^{liable to payto the} Applicant Bank the claims made in the OA^{with futureinterest andcosts.}

¶29

ln the result, the^present Original^{Applicationis allowed ex-parte with costs,as under:-}

¶30

ORDER

¶31

fi) O.A. No. 403 of 2022 filed by the^{ApplicantBank is allowed and debt is determinedwith cost} against the defendants. It is hereby^{orderedthat applicant bank is entitledto recover from} the defendants the total amount^{to the tune of Rs. 24,10,395/-(Rupees twenty fourlakh} ten thousand three hundred^{ninety five only) with pendenteliteand futureinterest@} 12.OOo/o per annum interest with simple^{on the amount due from the dateof filing of the} Original Application i.e. 26/0712022^{lill full andfanal realizationoftheclaimamount}

¶32

(2) Amount, if any.^paid by the defendants^{in the loan accounts or amount, if any, recoveredby} the Applicant Bank after^{filing of theO.A. the same be taken intoaccountwhile arriving at} the exact amount of dues/debt^{payableby the defendants.Accordingly,pendenteliteand} future interest shall be calculated^{on the reducedamount.}

¶33

¶34

Defendants are debarred^{from disposing, alienatingor dealingwith any of theproperties} belonging to them till the aforesaid^{decretal debt is recovered from the defendants'}

¶35

(4)

¶36

Defendants are^given a time^{of thirtydaysfrom the date of theJudgement/Final Orderfor} repaying of the above mentioned^{dues, so intimated to them.In case the defendantsfail to} pay the dues within the above mentioned^{time, the applicant bankis entitledto recover its} dues by sale of secured^{assets, if any. Applicant bank is also entitled to proceed against} personal properties of the defendants^{(Bothmovableand immovable)and alsoproceed} against the defendants^{personalty to recover the dues in accordancewithlaw}

¶37

(s) Let the Certificate of^{Recoverybe drawnup by Ld. Registrar forthwith in termsof} Judgement for^{issuanceof thesame against defendantsin favour of theapplicantbank} under Section 19^{(22) ot theRecovery of Debtsand BankruptcyAct, 1993 and put up the} same for issuance of the certificate

¶38

(6) Ld. Recovery Officer shall^{realizethe amountas per the Recovery Certificatefromthe} defendants in accordance^{with law.}

¶39

¶40

(7) Ld. Registrar^{of this Tribunal is directed to deliver recovery certificatein term of thefinal} order/iudgement^{for recovery of the sum against the defendantin favourof the Applicant} Bank under^{Section 19 (22) of the Recovery of Debtsdue to the Bank and Financial} lnstitutions^{Act, 1993 now knownas Recoveryof Debtsand BankruptcyAct' 1993'}

¶41

(8) The^{parties are directedto appear before the Recovery Ofticer on12/0412024for further} action in^{accordancewith lawin the eventthe entire amount is not paid by the said date'}

¶42

Accordingly,^{theOriginal Application beingO'A No4O3 of 2022is allowedandstands} disposed of

¶43

copy of the^{ludgemenvFinalOrder be upload in the Tribunal'swebsite'} File rs consigned^{to the Record Room'}

¶44

IDiclated to steno,^{transcnbedbY hrm corected's'gned and} 'p-iJi'o,""io ov .i i" tt'" op€n court on this^{dav or} 4$ March,2024)

¶45

( KAMAL DE ) PRESIDING^OFFICER

¶46

Debts^{RecoverY Tribunal-3'} Kolkata Order^Sheet (Continuation)

¶47

Ttinutlt puut
st"-t" sunkoi-rndi;v;' '-st't
EaiE r.ro. ol t'to. 40312022
Order with signature
Order No. order pronounced (vide separate sheets)'
Dt.4103/2024
In the result, O.A. No, 403 of 2022 is allowed with costs
Issue Recovery Certlf lcate accordlngly
( Kamal De )
Presiding Officer
DRT-3, Kolkata

State Bank of India v. Trinath Paul

Case brief

What is this about?

What did the court decide?

State Bank of India v. Trinath Paul

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

Coram

Case details

Similar cases

Bank of India versus Tapas Biswas and Anr.

Madhu Chanda Sirkar and Anr. versus Tata Capital Housing Finance Limited and Anr.

Union Bank of India versus Shambhu Roy and Ors.

Bank of Baroda versus M/S Superfoil and Anr.

Icici Bank Limited versus Arihant Plantations Pvt. Ltd. and Anr.

Icici Bank Limited versus Munni Devi and Anr.