Allowed

Punjab National Bank v. Ms Shivam Enterprise and Ors.

DRT12 Jun 2024OA/526/2022

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed an ex-parte original application filed by Punjab National Bank for recovery of a loan amount of Rs. 28,82,817.54 with interest and costs against three defendants who failed to appear.

What did the court decide?

Declaration of debt of Rs. 28,82,817.54 with interest; grant of Order No. 42/19 of RBI Act 1934; sale of secured assets; attachment of movable and immovable property; certificate for recovery actions

Punjab National Bank versus Ms Shivam Enterprise and Ors. — 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. 526 0f 2022

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DATE OF DELIVERY^{OF ORDER} "^12/06/2()24

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PUNJAB NATIONAL^{BANK(Erslwhile unrted Bank of lndia)' a bodycorporate} constituted under^{the Banking Companies (Acquisition and Transferof Undertakinqs)} Act, 1970, havrng^{rts HeadOffice at PlotNo' 4, Sector_ 1O'Dwarka'New Delhi-} 110075 and^{.u..yingon businesslhrough one of rts Sastra Divrsron' NorthCircle} OFhceatOrientalBankHouse,DD_ll,Sector-1,4"'Floor'saltlake'PohceStatron - A;nunnugu.^{North,(olkata - 700054 and at all material trmes it carried on and} carrlesonBanklngBusinessatSeveralplacesoflndia.includingthepresentoneat rts Branch Office it^{alolt, Stutio, Road,Polrce Station Nimla' Kolkata - 700065'} Distrlct^{iNorth24Parganas,commonlyknownasDurganagarBranch,herelnafter} referred as the^{"Applicant Bank", withrn the iurisd'ction of this Learned Trrb(rnal'}

Applrcant Eank

-Versus_

H/s Shivam Enterprise,^{a proprietorshipunit' being represented by its propnetor} Smt. Beauty^{Ghosh Guha, havingits registered officeat 8' Subhas Nagar Road'Dum} DumCantonment,PoliceStationDumDum,kolkata-700065'DistrictNorth24 Parganas and^{Shop at 397, Taki Road (North)' Post Off'ce and Police station} Barasat,^Kolkata -^{700124, District North 24 Parqanas}

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Smt. Beauty^{Ghosh Guha,wrfe of Pintu Ghosh' Proprietorof M/sBrrshtr Enterprrse'} having its registered^{office cum resrdentat 8' Subhas NagarRoad' DumDum} Cantonment,^{PoliceStationDumDum, Kolkata - 700065' District North 24 Parganas} and Shop at^{397,Taki Road(North), Post office and Police StationBarasat' Kolkata} - 700124,^{DistrictNorth 24 Parganas}

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3.SriPintuGhosh,sonofGobrndalalGhosh'rcsldlngat8'sLrbhasNagarRoad'Dum Dum Cantonment,^{Police Statron Dum Durn' Kolkata 7O0065'Distri'tNorth 24} Parganas,

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Defendants

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Counsel^{Forthe APPIcantBanki}

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Sri Pralay^Kar,Advocate

Set ex_Parte^on

2r l05l2024

JUqGEYENI

The Applicant^{Bank flled thepresentOAbeingNo'o.A. 526 of 2022on 26/0912022 rot} recoveryofatotalsumofRs'28,82,817'54/(Rupeestwentyelghtlakhelqhtytwo thousandelghthUndredseventeenandpalsehftytouronly)fromtheDefendantstowards Lerm loan^{together wrth lnterest,cost and oiherLlsual relleFs'}

The Defendants are served with summons.^{The defendantsdid not appear, as therewas no} the defendants. the case was^{frxedfor ex parte heanng on 2l/05/2024,}

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representation from and heard ex-Parle accordrngly.

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The Applicant Bank examined 20 documents^{through l4r. S Balall, Chief Manager markedas} ExhibrI Annexure A to Exhibit Annexure -^I.

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Heard lhe Ld. Counsel^{for lheApplicant Bank'}

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The^point that arises^{for consideration i< :}

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whether the Applicant^{Bankis entitled to the claim made in the OA against the Defendants} and OA schedule^{propertaes as prayedfor?}

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As stated supra,^{the Defendant rema'ned absentand did not turn up to controvert the} version of the O.A.^{of Applicantgank The EvidenceAffidavitcoupled w'th the recrtals} 'n the documents^{vaz., Exhibit Annexure - A to Annexure 'I markedon behalfof theApplicant} Bank, established^{the claim of the Applicant Bank against the oefendants and OA schedule} and severally^{liabie to payto the}

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properties. Hence, I^{hold that the Defendants are} 'jointly

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Applicant Bank^{the clalms madein the OA with future inierest and costs'}

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

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ABDEB

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(r) O.A. No.^{526 of 2022 filed by the Applicant Bank is allowed anddebtis deierminedwrlh} costagainstthedefendanls.Itisherebyorderedthatapplicantbankisentttledto recover from^{the defendantsthe total amount to the tune of Rs 28'82'817 54l-(Rupees} twenty eight^{lakheighty two thousandeight hundred seventeenand paisefifty four} only) with^{pendentelate andftrtureinterest@ l2 OOo/oper annum} 'nterest with slmple ontheamountduefromthedateoffilingoftheoriginalApplicationi.e.2610912022ti| fr.rll and final^{realizattonof the claimamount'}

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or amount,^{lf any,}

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(2) Amount, if^{any, paid by the clefen'lants} 'n^{the loanaccounts} recovered by^{the Appllcant Bank after f'llngof the O A the same} be taken^lntoaccount while arriving^{atthe exact amount of dues/debtpayable} by the^defendanls' the reduced^amount.

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Accordingly,^{pendentelite andfutureinterestshall be calculatedon}

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Defendantsaredebarredfromdlsposlng,alienatingordealingwithanyofthepropertles belonging^{to them till the aforesa'dde'retaldebt is recovereclfrom the defendants'}

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Defendants^{are given a time of th'rtydays from the dateof the Judgement/FinalOrder} for repaying^{of the above mentioneddues' so intimated to them ln casethe defendants} fail to^{paythe dues within the above mentioned time' the applicant bank is entitled to} recover^{its duesby Saleof secured assets' if any Applicantbank is also entitledto} proceed against^{personal properties of the defendants (Both movable and immovable)} and also^{proceedagainstthedefenclantspersonally to recover the duesrn accordance}

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(s) Letthecert.ficateofRecoverybedrawnUpbyLd.Registrarforthwlthintermsof ludgement^{for rssuanceof the sameagainst defendantsin favourof the applicant bank} under Section^{19 (22) of theRecoveryof Debtsand Bankruptcy Act' 1993 and putup} the same^{forissuanceof the Certificate-}

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amount as^{per the Recovery Certrfrcate from the}

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(6) Ld. Recovery^{Officer shall rea[ze the} defendants^{in accordance with law}

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(7) Ld. Regrslrar^{of thrs Trrbunalrs drrected to delrver recovery certrflcatern term of Lhefrnal} order/lLldgement^{for recoveryof the sum against Lhe defendantrn favour of the} Applicant^{Bank under Section19 (22) of theRecoveryof Debts due to the Bankand} Frnancral Institutions^{Act,1993 now known as Recovery of Debtsand Bankruptcy Act'} 1993.

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(8) The^{partles aredirected to appear beforeLheRecoveryOfflceron l9/07/2024 for further} action^{ln accordancewith law in the eventthe entire amount rs not pard by the sard} date.

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Accordinqly,^{the Or'ginal Appllcatlon bernq O'A No 526 of 2022rs allowedand stands} drsposed^of.

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Copy of^{the ludqement/FinalOrder be uploadln the Tribunal's website} File rs consagned^{to the Record Room'}

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!?::':lils;fl?^{[ ;:':ffi ::]i';"'?[,r* "'* -"} t2h day^{ot lune,2024 )}

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( xlPrer or )- PRESII)ING^OI'FI(]EIi

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Som/

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

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Puniab National^{Bank vs. M/s sh'vam Enterprise & Ors}

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Order with signature tl oldelNel Order^{pronounced (vrde separaLesheets)} DL-121ph1292! In the result,^{O A. No. 526oF 2022 is allowed} with costs. lssue Recovery Certlflcate^accordrngly ( Kamal De ) Presiding Offlcer DRT 3, Kolkata

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

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Bank vs. M/s Shivam^{Enterprise & ors.}

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Date of Order Order with signature

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ordcr Netl Present:. or.2!19st²⁰²⁴ For Applrcant^: Sri^{P Kar,Ld Counsel} For Defendants : None

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The Registry has^{issued noticeto the Defendant in ierms of} order^passed by^{this Tribunal.Defendanthasnot tr'rned up} despite the fact that^{thenotaceshave been servedupon the} Defendant. Applicant^{prayed for hearing of thecase ex_parte'} The matter is Dendinq^{since 2022.Henaeright availableto sole} Defendant^{for filing of W.Sand counterevidenceis to be} closed. It is closed.^{The OA proceedsfor ex-parteHeard theLd} Counsel for the Applicant.^{Reservedfor order'} Applacant may^{file 14rittennotes of arguments'}

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Io 1210612A24^{fo( ordet.}

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( Kamal De ) Presidinq Officer DRT-3, Kolkata

Punjab National Bank v. Ms Shivam Enterprise and Ors.

Case brief

What is this about?

What did the court decide?

Punjab National Bank v. Ms Shivam Enterprise and Ors.

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

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Case details

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