Allowed

Punjab National Bank v. Adsc Instrumentation Private Limited and Ors.

DRT29 Aug 2024OA/526/2023

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed an original application filed by Punjab National Bank for recovery of a debt of Rs. 57,79,048.93 from absent defendants. The court determined the debt, awarded interest, and directed the issue of a recovery certificate.

What did the court decide?

Debt of Rs. 57,79,048.93 with 11.55% p.a. interest determined; recovery certificate issued; defendants debarred from disposing assets; 30 days to pay.

Punjab National Bank versus Adsc Instrumentation Private… — Banking and Recovery | DRT (2024)

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BEFORE THE DEBTS RECOVERY TRTBUNAL-!II KOLKATA PRESENT: -sRI KAMAL DE.

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PRESIDING OFFICER.

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O.A. No, 526 OF 2023.

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DATE OF DELMRY OF ORDER | 29/OA/2024

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Punrab National Bank is a body corporate constituted under the Bankrng Companies (Acquisition and TransFer of Undertakings) Act, 1970, havrng its Head Office al Plot No-4, Sector-10, Dwarka, New Delhi-110075, and carrying on business through one of its SASTRA Division, Circte Offjce, Kotkata North, 2"d Floor, Sector 1, Salt Lake, Block-DD/11, Kolkata-700064 and branches inter atia at punjab Natronat Bank (e-UBI), Salt Lake Branch, BD-17, Sector-1, Salt Lake, Kolkata-700064, West Bengal, India, within the iurisdiction of this Ld. Tribunal.

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Applicant Bank.

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-Versus

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ADSC Instrumentation Private Limited, a company registered under the Compantes Act, 1956, registration No. 130659, being CIN No. U74120W82009PTC136059, having its registered office at-CA-5, Salt Lake, Sector-1, CC 8lock, Kolkata-700064, Emaif : adscoron(Oomail.com , Pht 23348954, PAN No. AAHCA9977E.

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Sri. Debiprasad Mallik, residing at BB-44, Action Area-1, Newtown, 3'd Floor, Distnct: North 24 Parganas, Kolkata-700156, Mob: 9163063000, PAN No. AELPMl646P.

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Smt. Arunamayi Chaudhury, wife of Sunil Kumar Chaudhuri, residing at CA-5, Salt Lake, sector-1, CC Block, District: North 24 Parganas, Kolkata-700064, Mob: 9339532050, PAN No. ACNPC835D.

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Sri. Abhishek l',lallik, son of Oebiprasad !1allik, CA-5, Salt Lake, Sector-1, CC Block, Djstrict: North 24 Patganas, Kolkata-700064, 14obl 9123097934.

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Defendants.

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Counsel for the Applacant Bank:

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Samapti Roy, Advocate,

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Set ex-parte on L6/08/2024

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]UDGE14ENT

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The Applicant^gank filed the^present O.A. being No. O.A./526/2023 on 29/0812023 for recovery of a totai sum of Rs. 57,79,048,93/(Rupees fifty seven lakh seventy nine thousand forty eight and^paisa ninety three only) from the Defendants towards Cash Credrt 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 heaflnq on 16/O812024, and heard ex-parte accordingly.

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The Applicant Eank examined 19 documents through^{Sri SyamaPrasadKulavr, Chref} [4anager marked as Exhibit Annexure-A/1^{to Exhiblt Annexure-A/19.}

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Heard the Ld. Counsel for the Applicant Bank.

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The pornt that aflses for consrderatton ts^:

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

As stated supra, the Defendant^{remaanedabsentand did not turnup to controvert the} version of the O.A. of Applicant^{Bank. The EvidenceAffidavitcoupled with the recitalsin the} documents viz., Exhibits^{Annexure-A/1to Exhibit Annexure-A/19 markedon behalf of the} Applicant Bank, established^{the claim of the Applicant Bankagainst the Defendants and oA} schedule^properties. Hence,^{I hold that the Defendantsare jointly and severally liable to pay} to the Applicant Bank the claams^{made in the OA with futureinterest and costs'}

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In the result, the^present Original^{Applicationis allowed ex-parte withcosts, as under:-}

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ORDER

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(1) O.A. No. 526 of 2023 filed by the^{ApplicantBank is allowed and debt is determinedwith cost} against the defendants lt^{is hereby orderedthat applicant bank is entitledto recover from} the defendants the total^{amount to the tuneof Rs.57,79,04a,93/-(Rupees fafty sevenlakh} seventy nine thousand^{forty eight and paisaninety three only)t/ithpendentellte andfuture} interest @ 11.55olo^{per annum interestwith simple on the amount due from the date of} filing of the Original^{Applicationi.e 29rcA/2023till full and final realizationof the clarm} amount,

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(2)Amount, if any, paid by the defendants^{in the loanaccountsor amount, if any, recoveredby} the Applicant Bank after^{fitingof the O.A. the same be taken intoaccountwhile arrivinq at} theexactamountofdues/debtpayablebythedefendants.Accordingly,pen(lentellteand future interest shall^{be calculated on the reducedamount'}

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(3) Defendants are debarred from disposing, alienating^{or dealingwith any of theproperties} belonging to them^{till the} aforesaid decretal debt^{is recovered from the defendants}

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(4) Defendants are given a time of^{thirty daysfrom the date of the Judgement/Flnal Orderfor} repaying of the above^{mentioned dues,50 intimated to them ln casethe defendantsfail to} pay the dues within the above mentioned^{time, the applicantbank is entitledto recover its} dues by sale of^{secured assets, if anyApplacantbank is also entitled to proceed agalnst} personal properties of the defendants^{(Bothmovableand immovable)and alsoproceed} against the defendants^{personallyto recover the dues tn accordancewith law'}

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(5) Let the Certificate of Recovery be drawn up by Ld. Registrar forthwith in terms of Judgement for issuance of the same against defendants in favour of the applicant bank

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under Section 19 (22) of the Recovery of Debts and Bankruptcy Act, 1993 and put up the

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same for issuance of the Certificate.

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(6) Ld. Recovery Officer shall realize the amount as per the Recovery Certifrcate from the defendanls In accordance wrth lar4.

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(7) Ld. Regrstrar of this Tribunal is directed to detiver recovery certiFicate in term of the frnat orderlludgement for recovery of the sum against the defendant in favoLrr ot the Applcant Eank under Sectton 19 (22) of the Recovery of Debts due to the Bank and Frnancral lnstitutrons Act, 1993 now known as Recovery of Debts and Bankruptcy Act, 1993.

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(8)The parties are directed to appear before the Recovery Officer on 3olo9/20 24 fot ft)rthe. actron rn accordance with law in the event the enttre amount ts not paid by the sard daLe.

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Accordingly, the Origrnat Application being O.A. No. 526 of 2023 is a owed and stands disposed of.

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Copy of the ludgement/Finat Order be uploaded in the Tribunal,s website. Frle rs consigned to the Record Room.

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(Drctated to.steno. transcribed by her, corrected, srgned and pro-nounced, by me in the open court on the 29rh dat 0f August, 2024)

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( KAI\4AL DE ) PRESIDING OFFICER,

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Debts Recovery Tribunal-3, Kolkata Order Sheet ( Contin u atio n )

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Case No. OA No. 526 of 2023 Puniab National Bank
vs.
ADSC Instrumentation Pvt. Ltd. & Ors.
f- - --_.--- -r
Date of Order Order with sagnature
Order No.05
Order pronounced (vide separate sheets).
pt .29 / 08 / 2124
In the result, O.A. No. 526 of 2023 is allowed with costs. Issue
Recovery Certificate accordingly.
( Kamal De ) '-*
Presiding Officer
DRT-3, Kolkata
ss
I

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

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Case No.o.A./	526/2023	PuniabNationalBank Vs. ADSCInstrumentationPvt.Ltd.&Ors
DateofOrder		Orderwithsignature
OrderNo.04 ot.16loat2024	Present:.
	ForApplicant ForDefendants:	:Ld.Advocate SamaptiRoy None
ss	TheRegistryha orderpassedby despitethe fact Defendant. Appli Thematterispen Defendantforfil closed,Itisclose Counselfor the A Applicant mayfile ro2910812024fo	sissued noticeto theDefendantintermsof thisTribunal.Defendanthasnot turnedup thatthenotices have been served uponthe cant prayedforhearingofthecaseex-parte. ding since2023.Hencerightavailabletosole ingofW.5. andcounterevidenceistobe d. TheOA proceedsfor ex-parte.HeardtheLd pplicant.Reservedfororder, writtennotesof arguments. rotdet.
		(Kamal De) PresidingOfficer DRT-3,Kolkata

Punjab National Bank v. Adsc Instrumentation Private Limited and Ors.

Case brief

What is this about?

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Punjab National Bank v. Adsc Instrumentation Private Limited and Ors.

Case brief

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