Allowed

Punjab National Bank v. Ms Surama Medical and Ors.

DRT29 Feb 2024OA/605/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an ex-parte Original Application filed by Punjab National Bank to recover a term loan from defaulted borrowers. The bank was entitled to recover the principal, interest, and costs from the respondents' properties.

What did the court decide?

Recovery of Rs 46,04,124.60 with future interest at 12% per annum; recovery certificate issued for attachment of personal and secured assets.

Punjab National Bank versus Ms Surama Medical and Ors. — Banking and Recovery | DRT (2024)

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BEFORE THE DEBTS RECOVERY^{TRIBUNAL-IIIKOLKATA}

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PRESENT:^.SRI KAMAL DE.

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PRESIDING OFFICER

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O.A. No. 605 of 2022

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DATE OF DELMRY OF ORDER | 2910212024

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Puniab National Bank^{(Erstwhile,United Bank of India), a bodycorporate} constituted under the Banking^{Companies (Acquisition and Transfer of Undertakings)} Act, 1970 having its Head^{Officeat Plot No.4,Sector10, Dwarka,NewDelhi-110075} and Regional Office at 48, Jessore^{Road, Barasat, (Near Sethpukur),North 24} Parganas, Pin - 7OOl24 and carrying^{on banking business interalia, throughoneof} its branch offices at Ganguly^{Mansion, Jessore Road,PostOffice& PoliceStation -} Habra, District - North^{24 Parganas,PinCode} -^{743263,westBengal, commonly} known as Punjab National Bank, Habra^{Branch,hereinafter referred as the "Applicant} Bank", within the^{jurisdictionof this LearnedTribunal.}

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... Applicant Bank

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-Versus-

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M/s Surama Medical,^ProPrietor -^{Subir Kumar Nandy,sonof Ranjit Kumar} Nandy, 33, Patpatti Kalibari^{Road, Post Office} -^{Habra,Police Station -Habra,} District - North 24 Parganas,^{Pin code} -^{743263,westBengal}

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Ranjit Kumar Nandy, son^{of Late Rajendra Lal Nandy,33, PatpattiKalibari} Road, Post Office -^{Habra, Police Station} -^{Habra,District- North24 Parganas,} Pin Code - 743263,^{West Bengal}

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sharmila Nandy, wife of^{Subir Kumar Nandy, 33, Patpatti KalibariRoad,Post} Office - Babra, Police Station^{Habra,District North 24 Parganas, Pin Code -} 743263, West Bengal

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Defendants

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Counsel for the APP|icant^Bank:-

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Swastik Saha, Advocate

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Set ex-parte on a/o212024

]UDGEMENT

The Applicant^{Bank filed the present OA being No 0'A'/60512022on O2llll2o22tot} recovery of a^{totalsum of Rs, 46,O4,L24,6q/-(RupeesFortysix lakh fourthousandone} hundred twenty^{four andpaise sixty only) from the Defendantstowards term loan together} with interest, cost^{andother usual reliefs.}

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The Defendants^{are servedwith summonsThe defendantsdid not appear'as therewas no} representation from^{the defendants,the casewas fixed for ex-partehearingon 8/0212024'} and heard ex-Parte^accordinglY.

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Parewa, Chief^{l'4anager and}

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The Applicant^{Bank examined27 documents through Hemraj} marked as^{Exhibit Annexure-Ato Exhibit Annexure-AP'}

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Heard the^{Ld Counselfor the Applicant Bank'}

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The^point that^{arises for considerationisI}

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Whether the^{ApplicantBank is entitled to the claim made in the OA againstthe Defendants} and OA schedule^{prope*iesas prayedfor?}

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As stated supra,^{the Defendant remained absentand did not turnup to controvert the} version of the^{O.A. of ApplicantBank The EvidenceAffidavitcoupled with the recitals in the} documents^{viz., Exhibits Annexure-Ato Annexure-APmarkedon behalfof theApplicant} Bank, established^{the claim of the Applicant Bank againsttheDefendantsand OA schedule} properties. Hence, I^{hold that theDefendants are jointlyand severallyliableto payto the} Applicant^{Bank the claims madein the OA with futureinterest and costs'}

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

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ORDER

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(1) o.A. No. 605^{of 2022flled by the ApplicantBank is allowed and debt is determinedwith cost} against the^{defendants. lt is hereby orderedthat applicant bank is entitledto recover from}

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l the defendants^{the total amountto the tune of Rs 46'04'124 60/- (Rupees Forty sixlakh} four thousand^{one hundred twentyfour and paisesixty only)with pendenteliteandfuture} interest @ 12.00o/o^{per annuminterestwithsimple on the amount due from the dateof} filing of the original^{Applicationi.e. 2l1ll2}22 till full and finalrealizationof theclaim} amount.

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(2) Amount, if any,^{paid by the defendantsin the loan accounts or amount' if any' recoveredby} the Applicant Bank^{after filing of the o.A. the same be taken intoaccountwhile arrivinqat} the exact amount^{of dues/debtpayableby the defendants.Accordingly,pendenteliteand} future interest shall^{be calculated on the reducedamount'}

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(3) Defendants are^{debarredfromdisposing, alienatingor dealingwith any of the properties} belonging to them titl^{the aforesaid decretal debt is recovered from the defendants'}

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(4) Defendants are^{given a timeof thirtydays from the dateof the ludgement/FinalOrder for} repaying of the above^{mentioned dues, so intimated to them' In casethe defendantsfail to} pay the dues within the above^{mentionedtime, the applicant bank is entitledto recoverits} dues by sale^{of secured assets, if any, Applicant bank is also entitled to proceed against} personal properties of the^{defendants(Bothmovableand immovable)and alsoproceed} against the defendants^{personallyto recover the duesin accordancewith law'}

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(s) Let the Certificate of^{Recoverybe drawn up by Ld Registrar forthwith in termsof} ludgement for^{issuanceof thesame against defendantsin favour of theapplicantbank} under Section^{19 (22) of theRecovery of Debts andBankruptcyAct' 1993and put uP the} same for issuance^{of the Certificate.}

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(6) Ld.RecoveryofficershallrealizetheamountaspertheRecoverycertificatefromthe defendants^{in accordancewith Iaw'}

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(7\ Ld, Registrar^{of this Tribunal is directed to deliver recovery certificate in termof the final} order/judgement^{for recovery of the sum against the defendantin favourof theApplicant} Bank under^{Section 19 (22) of the Recovery of Debtsdue to the Bank andFinancial} lnstitutions^{Act, 1993 now knownas Recoveryof Debtsand BankruptcyAct' 1993'}

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(8) The^{partiesare directedto appear beforetheRecovery Officet o^ g/O412O24for further} action in^{accordancewithlaw in the eventthe entire amount is not paid by the said date'}

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Accordingly,^{the OriginalApplication' beingO A No605 of 2022 is allowedandstands} disposed^of.

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copy of the^{JudgemenvFinal Order be uploadin the Tribunal'swebsite'} File is consigned^{to the Record Room'}

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rDrdated to steno,^{lranscrrbedbyhim,corected' signed and} 'i.Ji?,i.i,oE .l , ,n"^{opencourton thrs dav of} 29rh Februarv,²⁰²⁴⁾

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( KAMAL DE ) PRESIDING^OFFICER

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

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nirama Medical & ors'
F ---uniab Nation,i B;-rllL',sJ{/s
Ease xorcl t'to. oos/zozz
Order No. Order pronounced (vide separate sheets)'
pt.291O212024
In the result, O.A. No. 605 of 2022 is allowed with costs'
Issue Recovery Certificate accordingly'
( Kamal De )
Presiding Officer
DRT-3, Kolkata

Punjab National Bank v. Ms Surama Medical and Ors.

Case brief

What is this about?

What did the court decide?

Punjab National Bank v. Ms Surama Medical and Ors.

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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