Allowed

Punjab National Bank v. Ms Rangdhanu Enterprise and Anr.

DRT21 Mar 2024OA/461/2022

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed an ex-parte application filed by Punjab National Bank for recovery of a cash credit loan of approx. Rs. 23.09 lakhs from two defendants who did not appear. The Tribunal decreed repayment of dues with interest and directed issuance of a Recovery Certificate.

What did the court decide?

Recovery of Rs. 23,09,858.60 with interest; issuance of Recovery Certificate; prohibition on alienation of assets; repayment within 30 days.

Punjab National Bank versus Ms Rangdhanu Enterprise and Anr. — Banking and Recovery | DRT (2024)

¶1

BEFORE THE DEBTS RECOVERY TRIBUNAL-III^KOLKATA PRESENT: -SRI KAtIAL DE.

¶2

PRESIDING OFFICER.

¶3

o.A. No. 461 OF 2022.

¶4

DATE OF DELIVERY OF ORDER :^{2LI 03} /²⁰²⁴

¶5

Punjab National Bank is a body corporate^{constitutedunder theBanking} Companies^(Acquisition and^{Transferof Undertakings)Act, 1970, having its Head} Office at Plot No-4, Sector-10,^{Dwarka, New Delhi-110075,and having one of its} SASTRA Division, Circle Office, Kolkata North, 4th^{Floor,Sector-1,Salt Lake,Elock} DD/11, Kolkata-700064 and carryinq on business^{through one of its branchoffice at} Birati Branch^(E-UBl),88 Sarat Bose Road, Mahalati^{Nagar,Birati,PostOffice:} Rajbari, District: North 24 Parganas, Kolkata 700081, within the^jurisdiction of lhis Ld. Tribuna!.

¶6

Applicant Bank.

¶7

-Versus

¶8

M/S. Rangdhanu Enterprise, represented by its proprietor Sri Sanjaya Sarkar, Barrackpore Road, Arifbari, P.O. Noa Para, Police Station: Earasat, District: North 24 Parganas, PIN:700125.

¶9

¶10

Sri Sanjay Sarkar, Barrackpore Road. Arifbarj, p.O. Noa para, police Station: Barasat, District: North 24 Parganas, PIN: 700125, pAN: CeHpS4O60D.

¶11

Defendants.

¶12

Counsel for the Applicant Bank:

¶13

Samapti Roy, Advocate,

¶14

Set ex-parte on 12/O2/2024

¶15

]UDGEMENT

¶16

¶17

The Applicant Bank filed the present O.A. being No. O.A./461/2022 on 22/OB/2O22 for recovery of a total sum of Rs. 23,09,858.60/- (Rupees twenty three lakh nine thousand eight hundred fifty eight and paisa sixty onry) from the Defendants towards cash credit together with interest, cost and other usual reliefs.

¶18

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 12/02/2024, and heard ex-parte accordingly.

¶19

The Applicant Bank examined 11 documents through Sri S. Balaji, Chief I\4anager marked as Exhibit Annexure-A/1 to Exhtbit Annexure A/11.

¶20

Heard the Ld. Counsel for the Applicant Bank.

¶21

l-'r

¶22

The^point that arises for consideration^is:

¶23

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

¶24

¶25

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 coupled with the recitals in the documents viz., Exhibits Annexure-A/1 to Exhibit Annexure-A/11 marked on behalf of the Applacant 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 Applacant Bank the claims made in the OA with future interest and costs.

¶26

¶27

In the result. the present Original Application is allowed ex-parte with costs, as under:-

¶28

ORDER

¶29

(1) O.A. No. 461 of 2022 filed by the Applicant Bank is allowed and debt as determined with cost against the defendants. It is hereby ordered that applicant bank is entiued to recover from the defendants the total amount to the tune of Rs. 23,09,858.60/- (Rupees twenty three lakh nrne thousand eioht hundred fifty eight and paisa sixty only) with pendentelite and future interest @ 12.750lo per annu m interest with simple on the amount due from the date of filing of the Original Application i,e. 22/Oa/2022 till full and final realizataon of the claim amount.

¶30

(2) Amount, if any, paid by the defendants in the loan accounts or amount, if any, recovered by the Appricant Bank after firing of the o.A. the same be taken into account whire arriving at the exact amount of dues/debt payable by the defendants. Accordingty, pendentelite and future interest shall be calculated on the reduced amount.

¶31

(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.

¶32

(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 wjthin the above mentioned time, the appricant bank is entiued to recover its dues by sale of secured assets, if any. Applicant bank is also entiUed 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.

¶33

(5) Let the Certificate of Recovery be drawn up by Ld. Registrar forthwtth in terms of ludgement for assuance of the sarrre against defendants in favour of the applicant bank

¶34

under Section 19 (22) of the Recovery of Debts and Banknrptcy Act, 1993 and put up the same for issuance of the Certificate.

¶35

amount as^{per the Recovery Certificatefrom the}

¶36

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

¶37

(7)Ld. Registrar of this^{Tribunal is directed to deliver recovery certif'cate in term of thefinal} order/judgement^{for recovery of the sum against the defendantin favourof theApplicant} Bank under Section^{19 (22) of the Recovery of Debtsdue to the Bank and Flnancial} lnstitutions Act, 1993^{now knownas Recoveryof Oebts and BankruptcyAct,1993'}

¶38

(8)The parties are directed to appear before^{the RecoveryOfficet on 25/04/2024 for further} action in accordance with law^{in the eventthe entire amount is not paid by the said date}

¶39

Accordingly, the Original Application being O.A. No.^{461 of 2022is allowedandstands} disposed of.

¶40

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

¶41

(Dictated to steno, transcribed by her, correded, signed and pronounced by me in the open Court on the 21st day of lYarch, 2024)

¶42

( KAIYAL DE ) PRESIDING OFFICER,

¶43

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

¶44

casi no. oe No.461 of 2022 Punjab National Bank
hanu Ente
Date of Order Order with signature
order No. Order pronounced (vide separate sheets)
ot.21/ 03 / 2024
In the result, O.A. No. 461 of 2022 is allowed with costs. Issue
Recovery Certificate accordingly.
t ra-m jr oe-) -
Presiding Officer
DRT 3, Kolkata

Punjab National Bank v. Ms Rangdhanu Enterprise and Anr.

Case brief

What is this about?

What did the court decide?

Punjab National Bank v. Ms Rangdhanu Enterprise and Anr.

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

Punjab National Bank versus Mrs Rifa Parveen

Punjab National Bank versus Radha Stores Private Limited and Ors.

Union Bank of India versus Artlink Utility Pvt. Ltd. and Ors.

Punjab National Bank versus Ms Sweet Gold Ice Cream and Ors.

Punjab National Bank versus Smt Sharmistha Das Dutta and Anr.

Uco Bank versus Ms Blue Square Engineering and Ors.