Allowed

Bank of India v. Ms Bio-Saver Enterprise and Anr.

DRT11 Dec 2024OA/616/2023

Case brief

AI extract

What is this about?

The Debt Recovery Tribunal allowed an ex-parte original application by Bank of India to recover a term loan of Rs. 28,11,419.24 plus interest from the proprietor and business of Bio-Saver Enterprise, determining the debt and directing issuance of a recovery certificate. The defendants remained absent. The court stayed interference with property and set a 30-day repayment timeline.

What did the court decide?

Recovery of Rs. 28,11,419.24 plus pendenteliate and future interest at 11% per annum; stay on property disposal; direct to recoverer to issue recovery certificate under Section 19(22) RDB Act 1993.

Bank of India versus Ms Bio-Saver Enterprise and Anr. — Banking and Recovery | DRT (2024)

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BEFORE THE DEBTS RECOVERY TRIBUNAL-III^XOLKATA PRESENT : - SRI KAMAL OE

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PRESIDING OFFICER

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O.A. No. 616 of 2023

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DATE OF DELMRY OF ORDER I 11/12/2024

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BANK OF INDIA, a body corporate constituted under the Banking Companres (Acquisition and Transfer of Undertakings) Act, L970, having its Head Office at Star House, C-5, Block "G", Bandra, Kurla Complex Bandra (East), l4umbai-4ooo51 and carries on Banking Eusiness inter alia at Colony t4ore, p.O. Nabapa y, p.S. Barasat, pin - 700126, Distract - 24 Parganas (North), West Bengal, commonly known as Bank of India, Barasat Branch, hereinafter refeffed as the "Applicant Bank,,, within the jurisdiction of this Learned Trabunal.

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... Applicant Bank

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M/s Blo-Saver Ente.prire, a proprietorship business of Mr, Shankar prasad Chowdhury, son of Late Sachindra Nath Chowdhury, having its business and residing at Holding No. 2L/1, Swamt Sjbananda Road, Cha;kdanga, p,O. and P.S. Barasat, Pin - 700124.

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Mr. Shankar Prasad Chowdhury, (proprietor of t4ls Bio Saver Enterprise), havlng its business and residing at Holding No. 2111, Swami Sibananda'noad, Charakdanga,^p.O, and p.S. Barasat, pin _ 700124.

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Defendants

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Counsel for the Applicant Bank:

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Mr. D K Banerjee, Advocate Set ex-parte on 2/12/2024

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JUDGEMENT

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The Applcant Bank fited the present OA being No. O,A. 616 of 2023 on L3ltO/2023 fot recovery of a total sum of p€. 2g,lL,4Lg,24t_ (Rupees twenty eight lakh eteven thousand four hundred nineteen and paise twenty four only) from the Defendants towards term loan together with interest, cost and other usuat rellefs.

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The Defendants are served with summons. The defendants did not appear, as there was no representa on from the defendants, the case was fixed for ex-parte hearlng on 2/12/2024, and heard ex-parte accordlngly.

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The Applicant Bank examtned 45 documents through Mr. Harendra Nath Ha,der, Chief I'lanager and Constituted Attorney, marked as Exhibit Annexure _ A,/1 to Exhibit Annexure - A/45.

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Heard the Ld. Counsel for the Applicant Bank,

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The point that arises for consideration is i

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Whether the Applicant Bank is entiUed to the clalm made in the OA against the Defendants and OA schedule properues as prayed for?

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As stated supra, the Defendant .emained absent and did not turn up to controvert the version of the o.A. of Applcant Bank. The Evidence Affidavit coupled with the recitars in the documents viz., Exhibit Annexure - A/1 to Annexure _ A/45, marked on behalf of the Applicant Bank, established the claim of the Applicant Bank against the Oefendants and OA schedule properties, Hence, I hold that the Defendants are joinfly and severa y liable to pay to the Applicant Bank the claims made in the OA with future interest and costs,

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In the resurt, the present originar Apprication is aflowed ex-parte with costs, as under:-

ORDER

(1)

(2)

(3)

O.A. No. 616 of 2023 filed by the Applicant Bank is altowed and debt is determined with cost against the defendants. It is hereby ordered that appltcant bank is enti ed to recover from the defendants the total amount to the tune of Rs. 28,11,419.24l- (Rupees twenty ejght lakh eleven thousand four hundred nineteen and paise twenty four only) with pendentelite and future interest @ 1l.Ooqo per annum interest wjth simple on the amount due from the date of firing of the original Apprication a,e. L3/70/2023 tjfl fu and final reaiization of the claim amount.

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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 jnto account

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while arriving at the exact amount of dues/debt payable by the defendants. Accordingly, pendentelite and future interest shall be calculated on the reducect amount.

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Defendants are debarred from disposing, alienaUng or dealing with any of the properties belonging to them till the afo.esaid 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 Judgement/Finat Order for repaying of the above mentioned dues, so intimated to them, In case the Oefendants fail to pay the dues wtthin the above mentioned time, the applicant bank is entj ed to recover its dues by sale of secured assets, if any. Applicant bank is also entiUed to proceed against personal properties of the defendants (Both movable and immovable) and also proceed against the defendants personally to recov€r the dues in accordance

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(s) Let the Certificate of Recovery be drawn up by Ld. Registrar forthwith an terms of ludgement for Issuance of the same against defendants ln favour of the applicant bank under Sectaon 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 certiflcate in term of the final order/Judgement for recovery of the sum against the defehdant in favour of the Applicant Bank under Section 19 (22) of the Recovery of Debts due to the Bank and Fjnancial Institutions Act, 1993 now known as Recovery of Debts and Bankruptcy Act, 1993.

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(8) The parties are directed to appear befor€ the Recovery Officer on tO/01/2O25 for further action in accordance wtth law in the event the entire amount is not paid by the said date.

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Accordlngly, the Ortginal Application being O.A. No. 616 of 2023 is altowed and stands disposed of.

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Copy of the ludgement/Final Order be upload th the Tribunal,s website. File is consigned to the Record Room.

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(Drctated tosteno, kansc.ib€d by hlm, corrected, srgned and vronounced by rne ln the ooen court on rh,( Ir_ Oay ol D*emter, 2O2a )

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( KAT4AL OE ) PRESIDING OFFICER

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Debts Recovery Tribunal-3,^Kolkata Order Sheet

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( Contin u atio n )

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Case No. OA No. 61612023 Bank of India v5. M/s Bio Saver Enterprise^{& Anr.}

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DateotOrder	Orderwithsignature
Order No.17 ot.1111212024	Order pronounced (vlde separate sheets).
	Intheresult,O.A. No,616 of 2023is allowedwlthcosts. Issue
	RecoveryCertificate accordingly.
som	(Kamal De) PresidingOfficer DRT-3,Kolkata

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

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Caset'lo.^olTOr	ffitoirnaEvs'M/$-.^{s.verEnterprise& Anr'} ^OTzOZ:
Dateoforder	Orderwithsignature
OrderNo.6 ot.2l12^/2024	Pres€nt:. ForApplicant^: ForDefendants^:
	TheReqistry^{hasissued noticetotheDefendantintermsof} order^{passedby thisTribunalDefendanthasnotturnedup} despitethe^{factthat thenotices have been served uponthe} Defendant^{Applicant prayedforhearingofthecaseex-parte'} Thematter^{ispending since2023Hencerightavailabletosole} Defendant^{forfilingofW S andcounterevidenceistobe} closed.ltis^{closed.TheOA proceedsforex-parteHeardtheLd} Counsel^{for theApplicantReservedfor order'} Applicant^{may filewrittennotes ofarguments'}
	(KamalDe) Presiding^Officer DRT-3,^Kolkata

Bank of India v. Ms Bio-Saver Enterprise and Anr.

Case brief

What is this about?

What did the court decide?

Bank of India v. Ms Bio-Saver Enterprise and Anr.

Case brief

What is this about?

What did the court decide?

What the court decided

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