Allowed

Axis Bank Ltd. v. MD Farooque Hossain

DRT30 Jan 2024OA/464/2022

Case brief

AI extract

What is this about?

The Debt Recovery Tribunal allowed the bank's recovery application. Withdrawing the defendant's absence, the court validated the bank's summons and affidavit evidence, affirming the claim was within jurisdiction and limitation. The defendants were declared liable to pay the principal and interest.

What did the court decide?

Claim allowed with cost; Defendants jointly and severally liable to pay Rs. 63,01,524/- with interest; Recovery Certificate issued; Recovery Officer directed to realize amount.

Axis Bank Ltd. versus MD Farooque Hossain — Insurance | DRT (2024)

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BEFORE THE DEBTS RECOVERY TRIBUNAL-I KOLKATA

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PRESENT: -SHRI AMBUJA MOHAN DAS PRESIDING OFFICER

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O.A. No.464 OF 2022

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DATE OF DELIVERY OF ORDER : 30^th January 2024

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AXIS BANK LTD., company within the meaning of the Companies Act 1956 and a bank under the Banking Regulations Act, 1949 having its registered office at AXIS BANK LTD. “Trishul”, 3^rd Floor, opposite Samartheswar Temple, Law Garden, Ellis Bridge, Ahmedabad – 380006, Gujarat, and inter alia having its branch Structured Assets Group (East) at A.C. Market Building, 1, Shakespeare Sarani, 3^rd Floor, P.S.Shakespeare Sarani, Kolkata – 700071 within the jurisdiction of this Learned Court.

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....................APPLICANT

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-VERSUS-

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MD FAROOQUE HOSSAIN, son of Mohammad Abbas Hossain, the sole proprietor of the Proprietorship concern carrying on business in the name and style of “Gouse Elahi Exports” at 17/B, Sapgachi 1^st Lane, PO- Ghughudanga, Kolkata – 700039, West Bengal

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And also at

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9A, Topsia Road, Picnic Garden, PS- Tiljala, Kolkata -700039, West Bengal

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..........DEFENDANT

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Counsel for the Applicant Bank: - Mr. D. Mukherjee, Ld Counsel Counsel for the Defendants:- Set ex-parte on 05.12.2023

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J U D G M E N T

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The present Recovery Application is filed by the AXIS BANK LTD., nationalized Bank carrying on business of Banking all over India including from its branch Structured Assets Group (East) at A.C. Market Building, 1, Shakespeare Sarani, 3^rd Floor, P.S.- Shakespeare Sarani, Kolkata – 700071, for recovery of Rs. 63,01,524/- with interest @ 12.90% p.a with monthly rest from 17.06.2021 against the Defendant till payment and/or realization. The Defendant is the borrower/guarantor/mortgager.

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Rina S.

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The service of summons was effected upon the Defendant in usual mode of postal service. Despite giving sufficient time, the Defendant neither appeared nor filed the Written Statement to controvert the claim of the Bank. Hence, the defendant is declared exparte on 05/12/2023.

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The Applicant in support of its contention filed Evidence on Affidavit duly affirmed by Ms. Arna Chatterjee, the Authorised Signatory of the Bank annexing the various documents which are exhibited.

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I have perused the documents and Evidence and heard the Ld. Advocate for the Bank. By the said evidence on affidavit the Applicant could prove its claim and documents. The claim of the Bank is within the limitation and within the jurisdiction of this Tribunal. Hence, the claim of the Bank should be allowed with cost. In the above circumstances it is ordered :

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O R D E R

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i) Claim of the Applicants is allowed with cost.

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ii) The Defendants are jointly and severally liable to pay Rs. 63,01,524/- with interest @ 12.90% p.a with monthly rest from 17.06.2021 against the Defendant till payment and/or realization.

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iii) It is declared that the claim is secured by hypothecation of moveable as described in the Schedule in the OA at page 26.

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iv) Let, a certificate be issued accordingly.

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v) Ld. Recovery Officer shall realize the amount as per the Recovery Certificate from the defendants in accordance with law.

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vi) Ld. Registrar of this Tribunal is directed to deliver recovery certificate in term of the final order/judgment for recovery of the sum against the defendants in favour of the Applicant Bank under Section 19 (22) of the Recovery of Debts due to the Bank and Financial Institutions Act, 1993 now known as Recovery of Debts and Bankruptcy Act, 1993.

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vii) The parties are directed to appear before the Recovery Officer on 11/03/2024 for further action in accordance with law in the event the entire amount is not paid by the said date.

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Accordingly, the Original Application being O.A. No.464 of 2022 is allowed and stands disposed of. All the IAs, if any,

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Rina S.

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are also disposed of.

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Copy of the Judgment/Final Order be uploaded in the Tribunal’s website.

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File is consigned to the Record Room.

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( Dictated to P.S., transcribed by her, corrected, signed and pronounced by me in the open Court on this the day 30^th January 2024

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Place: Kolkata ( Ambuja Mohan Das ) Date: 30^th January 2024 Presiding Officer

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Page No.-	Order Sheet (continuation)
Case No. OA/464/22	Axis Bank Ltd. vs Md. Farooque Hossain
Date of the order	Order with signature	O ffic e ac tion with date and dated s ignature of parties when nec es s ary

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Rina S.

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30^th January 2024	Ld. AdvocateMr. D. Mukherjeeappeared for the Applicant Bank. None is present on behalf of the Defendants. Matter was heard in open Court on this the day of 05/12/2023. The detailed order in three pages annexed separately. The gist of the order is as follows: O R D E R i) Claim of the Applicants is allowed with cost. ii) The Defendants are jointly and severally liable to pay Rs. 63,01,524/- with interest @ 12.90% p.a with monthly rest from 17.06.2021 against the Defendant till payment and/or realization. iii)It is declared that the claim is secured by hypothecation of moveable as described in the Schedule in the OA at page 26. iv)Let, a certificate be issued accordingly. v)Ld. Recovery Officer shall realize the amount as per the Recovery Certificate from the defendants in accordance with law. vi)Ld. Registrar of this Tribunal is directed to deliver recovery certificate in term of the final order/judgment for recovery of the sum against the defendants in favour of the Applicant Bank under Section 19 (22) of the Recovery of Debts due to the Bank and Financial Institutions Act, 1993 now known as Recovery of Debts and Bankruptcy Act, 1993.
	vii)The parties are directed to appear before the Recovery Officer on 11/03/2024 for further action in accordance with law in the event the entire amount is not paid by the said date. Accordingly, the Original Application being O.A. No.464 of 2022 is allowed and stands disposed of. All the IAs, if any, are also disposed of.
	Copy of the Judgment/Final Order be uploaded in the Tribunal’s website. File is consigned to the Record Room. (Dictated to P.S., transcribed by her, corrected, signed and pronounced by me in the open Court on this the day 30^thJanuary 2024)
	Place: Kolkata (Ambuja Mohan Das) Date:30^thJanuary2024 Presiding Officer

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Rina S.

Axis Bank Ltd. v. MD Farooque Hossain

Case brief

What is this about?

What did the court decide?

Axis Bank Ltd. v. MD Farooque Hossain

Case brief

What is this about?

What did the court decide?

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