Allowed

Canara Bank v. Prabir Manna and Anr.

DRT19 Apr 2024OA/466/2023

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the bank's application ex parte. Determining the debt amount at Rs. 74,72,855/-, the court ordered recovery with pendentelite and future interest, barred asset disposal, and directed issuance of a recovery certificate under Section 19(22) of the RDB Act.

What did the court decide?

Recovery of Rs. 74,72,855/- with future interest at 7.40% p.a.; bar on disposal of assets; time for repayment; Certificate of Recovery issued.

Canara Bank versus Prabir Manna and Anr. — Banking and Recovery | DRT (2024)

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BEFORE THE DEBTS RECOVERY TRIBUNAL-III KOLKATA pRESENT: _SRI KAMAL DE.

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PRESIDING OFFICER.

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O.A. No. 466 OF 2023.

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DATE OF DELMRY OF ORDER: tg/O4/2O24

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Canara Bank ts a body CorDorate constituted under the Bankjng Companies (AcqL,isition and Transfer oF Undertakings) Act, ,aO, n*,"g i.;";J,'8rri." u, ,rr, J c Road, Bengaruru-560002, and carrying on business rlt"-riu-Jt lurtrur." city Branch, 88-24, Sal ake, Sector_1, c.S._ eidhannagar ,onr,, Xoff,uiu]rOillo, *nn," the rurisdiction of thrs Ld. Tribunat.

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Applicant Bank.

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-Versus-

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Prabir Manna, Son of Sudarshan lvlanna

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Ms. Jayita t4anna, Wife of prabir t4anna

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Both are residing at- paschim Nari 712110. ayanpur Tarakeswar,

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Hooghly, West Bengal

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Defendants.

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Counsel for the Applicant Bank:

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Amit Gupta, Advocate, Set ex-parte on 09/04/2024

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JUDGE[4ENT

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The Applicant Bank filed the present O.A. being No. O.A,/466/2023 on OA/OB/2O23 for recovery of a total sum of Rs. 74,72,a55/- (Rupees seventy four lakh seventy two thousand eight hundred and fifty five only) from the Defendants towards Term Loan together with interest, cost and other usual reliefs.

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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 Og/O4/2O24, and heard ex-parte accordingly.

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The Applicant Bank examined 16 documents through Shanker Lal Sirvi, Chief Manaoer marked as Exhibit Annexure-A to Exhibit Annexure_A_15.

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Heard the Ld. Counsel for the Applicant Bank.

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The poinl thaL arises for consideration ls :

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

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As stated supra, the Defendant remained^{absent and did not turnup to controvert the} version of the O.A.^{of ApPlicantBank.The EvidenceAffidavit coupled with the recitalsin the} documents viz,, Exhibits Annexure-A^{to Exhibit Annexure-A-15marked on behalf of the} Applicant Bank, established the claim of^{the ApplicantBankagainstthe Defendants and OA} schedule^properties. Hence,^{I hold that the Defendants are jointlyand severally 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 allowedex-parte withcosts, as under:-}

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ORDER

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(1) O.A, No. 466 ot 2023 filed by the Applicant^{Bank is allowed and debt is determinedwithcost} against the defendants. It is^{hereby orderedthat applicantbankis entitledto recover from} the defendants the totat amount^{to the tuneot Rs.74,72,A55/-(Rupees seventy four lakh} seventy two thousand eight^{hundred and fifty five only) with pendenteliteand future} interest @ 7.40olo^per annum^{interestwithsimple on the amount due from the date of filing} of the Original Application^{i.e, 08/08/2023till full andfinalrealization of the claimamount'}

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(2) Amount, if any, paid by the defendants^{in the loan accounts or amount, if any, recoveredby} the Applicant Bank after^{filing of the O A. the same be takeninto accountwhile 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,^{alienatingor dealingwith any of theproperties} belonginq to them till the^{aforesaid decretaldebt is recovered from the defendants}

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(4) Defendants are given a time of thirty days^{from the date of the ludgement/FinalOrder for} repaying of the above mentioned^{dues,so intimated to them.In casethe defendantsfail to} pay the dues within the above mentioned time, the^{applicant bank is entitledto recover its} dues by sale of secured^{assets, if anyApplicant bank is also entitled to proceed against} personal properties of the defendants^{(Bothmovableand immovable)and alsoproceed} against the defendants^{personallyto recover the dues in accordancewith law'}

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(5) Let the Certificate of Recovery be drawn^{up by Ld. Registrar forthwith in termsof} ludgement for issuance^{of thesame against defendantsin favour of theapplicantbank} under Section 19^{(22) of the Recoveryof Debtsand BankruptcyAct, 1993 and put up the} same for issuance of^{the Certificate}

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amount as^per the^{Recovery Certificatefrom the}

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(6) Ld. Recovery Officer shall realize^the delendants in accordance^{with law}

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;71^{La. n"gi.trul, of this Tribunal is directed to deliver recovery certificatein termof the final} order/ludgement^{for recovery of the sum against the defendantin favourof the Applicant} Bank under^{Section 19 (22) of the Recovery of Debtsdue to the Bank andFinancial} Institutions^{Act, 1993 now knownas Recoveryof DebtsandBankrllptcy Act' 1993}

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(8)The^{parties are directedto appear before the RecoveryOfficer on 21105/2024 for further} action in accordance^{with lawln the eventthe entire amount is not paidby the saiddate}

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Accordingly,^{the Original Application beingO A No' 466 of 2023 is allowedandstands} disPosed^of

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Copy of the^{ludgement/FinalOrder be Lrploadedin the Tribunal's website} File is consigned^{to the RecordRoom}

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u no [',i"sfi^{:"T ;i"L?fl 1l'i:i:l ::J[:f :i'iT;'f!':;n"o} of April,²⁰²⁴⁾

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( KAI4AL DE ) PRESIDING^OFFICER'

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

¶42

vs' Prabk Manna & Anr'
-ana.a-Bank
Ease n-o. ol-no' +eO of zozS
Order with signature
Order No.05 Order pronounced (vide separate Sheets)'
D.lg 10412024
In the result, O A No 466 of 2023 is allowed with
Recovery Certif icate accordingly'
( Kamal De )
Presiding Officer
DRT-3, Kolkata

Canara Bank v. Prabir Manna and Anr.

Case brief

What is this about?

What did the court decide?

Canara Bank v. Prabir Manna and Anr.

Case brief

What is this about?

What did the court decide?

What the court decided

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Issues for consideration

Statutes considered

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