Allowed

Indian Bank v. Palash Kumar Adhikary

DRT7 May 2024OA/558/2023

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed an ex-parte Original Application filed by Indian Bank to recover a term loan of Rs. 37,48,064/- plus interest and costs from the defendant who failed to appear. A recovery certificate was directed to be issued under Section 19(22) of the Act.

What did the court decide?

Recovery of Rs. 37,48,064/- with interest at 8.25% per annum, grant of 30 days to repay, debarment from disposing properties, and issuance of Recovery Certificate.

Indian Bank versus Palash Kumar Adhikary — 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 OFFTCER.

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O.A. No. 558 OF 2023.

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DATE OF DELIVERY OF ORDER I 07/O5/2O24

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]]tdi:n^{sank is a Company tncorporatedand registered} under Companies Act. 1956 (1 of 1956) and a Banking Company within the meaning of seciio; ;(c) of the Banking Regutation Act, 1949 (10 of 1949) and f,aring its^{-Regislrel-oo,i"} u, ,ro lll-,-^{yi,.rl"i-,gamsarar, Royapettah, chennai_6-0oo14 JnJlJirn-s tiui.,onur} orrce at 14, tndia Exchange place, Ground Floor. Kolkata-7OOOOr, .ui.y,ng on n. business through various branches one of the branch at Indian i,lUroon,pur "unf" Branch, P.O. & p.S. Baruipur, Kolkata_700144 known as Subuddhipr. il-ur.n, *nf,,n the jurisdiction of thjs Ld. Tribunal.

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Applicant Bank.

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-Versus-

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l,lr. Palash Kumar Adhikary, son of Uttam Adhakary of Fingadhauri, Mahisyo_o Adhikary Para, Hotar, South 24 parganas, Kolkata_743503.

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Defendant.

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Counsel for the Applicant Bank:

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Gunja Pachisia, Advocate,

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Set ex-parte on 24/04/2024

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JUDGEMENT

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The Applicant Bank fited the present O.A. being No. 0,A./558/2023 on 74/Og/2O23 fol recovery of a total sum of Rs.37,48,064/- (Rupees thirty seven lakh forty eight thousand and sixty four 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 24/04/2024, and heard ex.parte accordingly.

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The Applicant Bank examined 7 documents through Tanusree Das Roy, Senior lvanager marked as Exhibit Annexure-A-1 to Exhibit Annexure_A_7.

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Heard the Ld. Counsel for the Applicant Bank.

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The pojnt that arises for consideration is :

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is entitled to the claim made^{in the OA againstthe Defendants} Whether the ApPlicant^Bank and OA schedule ProPerties as Prayed for?

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As stated supra, the Oefendant^{remained absent and did not turnup to controvert the} version of the o.A, of^{ApplicantBank.The EvidenceAffidavit coupled with the recitals in the} documents viz., Exhibits^{Annexure-A-1to Exhibit Annexure-A-7 marked on behalf of the} Applicant Bank, established^{the claim of the ApplicantBankagainstthe Defendants and OA} schedule^properties. Hence,^{I hold that the Defendants are jointly and 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^{Applicationis allowed ex-parte withcosts,as under:-}

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ORDER

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(1) O,A, No. 558 of 2023 filed by the Applicant Bank is allowed and debt is determined with cost against the defendants. It is hereby ordered that applicant bank is entitled^{to recover from} the defendants the total amount to the tune ot Rs.37,4a,064/-^(Rupees thirty seven lakh forty eight thousand and sixty four only) with pendentelite and future interest @ 8.250lo^per annum interest with simple on the amount due from the date of filing of the Original Application i.e. 14/09/2023 till t,J ll and final realization of the claim amount.

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-l

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(2) Amount, if any, paid by the defendants in the loan accounts or amount, if any, recovered by the Applicant Bank after filing of the O.A. the same be taken into account whale 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, alienating or dealing with any of the properties 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 days from the date of the ludgement/Final Order for repaying of the above mentioned dues, so intimated to them. In case the defendants fail to pay the dues within the above mentioned time, the applicant bank is entitled to recover its dues by sale of secured assets, if any. Applicant bank is also entitled 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.

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

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

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(7) Ld. Registrar of this Tribunal is directed to deliver recovery certificate in term of the final order/judgement for recovery of the sum against the defendant in favour of the Applicant Eank under Section 19 (22) of the Recovery of Debts due to the Bank and Financral Institutions 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 Ot/06/2024 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 Applicataon being O.A. No. 558 of 2023 is a owed and stands disposed of.

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

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(Oi(tdted to steno, trdnscnbed by her, correcl€d_ si.nF.t:n.r :i"^ff;Tfi!i"" " the open court on the 7 ' dav'

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( KAI4AL DE ) PRESIDING OFFICER

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

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Case No. OA No. 5S8 of 2023 Indian Bank Vs. palash Kumar Adhiiary
Date of Order Order with signature
Order No.05
pt.o7/05/2024 Order pronounced (vide separate sheets).
In the result, O.A. No. 558 of 2023 js allowed with costs, Issue
Recovery Certificate accordingly.
( Kamal De )
Presiding Officer
DRT-3, Kolkata
5S

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

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CaseNo.O.A./	55a/2023 IndianBank Vs.Palash KumarAdhikary
Date oforder	Orderwithsignature
OrderNo.04 Dt.24/04/2024	Pres€nti. ForApplicant:Ld.Advocatecunja^pachisia ForDefendants:None
ss	TheRegistryhasissued noticetotheDefendantinterms of orderpassedby thisTribunal.Defendanthasnotturnedup despitethefactthat thenotices have been served upon the Defendant. Applicant prayedforhearingofthecaseex-parte. Thematterispending since2023,Hencerightavailabletosole DefendantforfilingofW.S.andcounterevidenceistobe closed.Itis closed. TheOA proceedsfor ex-parte.HeardtheLd Counselfor the Applicant.Reservedfororder. Applicant mayfilewrittennotesof arguments. To07/05/2024 fotofiet.
	(KamalDe ) PresidingOfficer DRT-3,Kolkata

Indian Bank v. Palash Kumar Adhikary

Case brief

What is this about?

What did the court decide?

Indian Bank v. Palash Kumar Adhikary

Case brief

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What did the court decide?

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