Allowed

Indian Bank v. Sharma Enterprise and Ors.

DRT10 Jan 2024OA/663/2022

Case brief

AI extract

What is this about?

The Recovery Tribunal allowed an Original Application filed by Indian Bank for ex-parte recovery of cash credit dues against respondents who were absent. The court directed the issuance of a recovery certificate under the Recovery of Debts and Bankruptcy Act and debarred defendants from disposing of assets until dues were cleared.

What did the court decide?

Recovery of Rs. 43,45,534.19 with future interest and costs; issue of Recovery Certificate; restraint on disposing of assets.

Indian Bank versus Sharma Enterprise and Ors. — Execution and Attachment | DRT (2024)

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BEFORE THE DEETS RECOVERY TRIBUNAL-III KOLKATA PRESENT: -SRI KAMAL DE.

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PRESIDING OFFICER.

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O.A. No.663 OF 2022.

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DATE OF DELMRY OF ORDER I tO/O1^/2024

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Indian Bank is a body corporate constituted under the Bankng Compantes (Acquisition and lransfer of Undertakings) Act, 1970, having its Head Office at 254260 Avvai, Shammugham Salai, Royapettah, Chennai. pin 600014 and havrng one of its branch at 135, K.G.R. Path,^p.O. Kanchrapara & p.S. Bizpur, pin 743135, District North 24 Parganas also known as Indian Kanchrapara granch, within the jurisdtction of this Ld. Tribunal.

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Applicant 8ank.

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-Versus-

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Sharma Enterprise, Proprietress Mrs. Chandranj Sharma a proprietorshtp Concern having its office and place of business at Stall No. 3O3CL, Sitee Bazar, kanchrapara, P.S. Bizpur, District North 24 Pargaias, West Bengat pin-7431.45,

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14rs. Chandrani Sharma (Proprietor & Legal Representative), Wtfe of Late Sanjay Sharma, Proprietress of lvlls. Sharma Enterprise, at Stall No. 303CL, Sitee Bazar, kanchrapara. P.S. Bizpur, District North 24^patganas, West Bengal pin 743145 also residing at 14512O2/A, Gobinda Basu Lane. Halisahar, p.O. Kanchrapara, p.S. Bijpur, District North 24 Patganas, West Bengal^pin-743145.

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Mr. Aditya Sharma (Legal Representative of Late Sanjay Sharma), Son of Late Sanjay Sharma at 14512O2/A, Gobinda Basu Lane. Halisahar, p.O. Kanchrapara, p.S. Bijpur, District North 24 Parganas, West Bengal^pio-743145.

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Ayush Kumar Sharma (Legal Representative of Late Sanjay Sharma) Son of Late Sanjay Sharma, Represented by his mother 14rs. Chandrani Sharma, residing at 145/2O2/A, Gobinda Basu Lane. Halisahar,^p.O. Kanchrapara, p.S. Bijpur, Oistrict North 24 Parganas, West Bengal Pin-743\45,

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Drvya Sharma, (Legal Representative of Late Sanjay Sharma) Daughter of Late Sanjay Sharma, Represented by her mother Mrs. Chandrani Sharma, residing at L45/2O2/A, Gobinda Basu Lane, Halisahar,^p.O. Kanchrapara, p.S. Bijpur, District North 24 Parganas, West Bengal Pin-743145.

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I4r. l4adan Yadav (Guarantor), Son of Late lvuniraj^yadav residing at Rly etr, No. 339/G, Dangapara, P.O. Kanchrapara, P.S. Bizpur, West Bengal,^pin-741504.

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Defendants.

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Counse for the Applicant Bank:^-

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Ms. Madhupurna Ghosh, Advocate, Set ex-parte on 0s/ 12/2023

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JUDGEIVENT

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The Applicant Bank filed the^{present O.A. being No. O A.166312022on 03/1212022fot} recovery of a total sum of Rs. 43,45,534.19/-^{(Rupeesforty three lakh forty five thousand} five hundred thirty four and^{paisa nineteenonly) from theDefendantstowards Cash Credit} together with interest, cost and^{other usualreliefs.}

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The Defendants are served^{with summonsThe defendantsdid not appear, as therewas no} representation from the defendants,^{the case wasfixedfor ex-partehearing on 05/L2/2023'} and heard ex-parte accordinglY

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The Applicant Bank examined 34 documents^{through Subarna LataRajak, Senior Manager} marked as Exhibit Annexure-A^{to Exhibit Annexure-28.}

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Heard the Ld. CoLlnsel for the Applicant^Bank.

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The point that arises for consideration^is:

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

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As stated supra, the Defendant remained absent and^{did not turn up to controvert the} version of the O.A. of Applicant Bank. The Evidence^{Affidavitcoupled with the recitalsin the} documents viz., Exhibits Annexure-A to Exhlbit^{Annexure-28 markedon behalf of the} Applicant 8ank, established the claim of the Applicant Bank against^{the 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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ln the result, the^present Original Application is allowed ex-parte with costs, as under:-

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ORDER

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(1) O.A. No. 663 of 2022 tiled 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 of Rs. 43,45,534.191-^(Rupees forty three lakh forty five thousand five hundred thirty four and^paisa nineteen only) with^pendentelite and future anterest @ 11.35^{o/o per} annum interest with simple on the amount due from the date of filing of the Original Application i.e. O317212022 tall full and final realization of the claim amount.

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(2) Amount, if any, paid by the defendants in the loan accounts or amount/ if any, recovered by the Applacant Bank after filing of the O.A. the same be taken into account while arriving at the exact amount of dues/debt^payable by the defendants. Accordingly,^pendentelite and future anterest 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 aforesaad 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/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 Certificate of Recovery be drawn up by Ld. Registrar forthwith in terms of ludgement for issuance of the same against defendants in favour of the^{applicantbank} 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 Bank under Section 19⁽²²⁾ of the Recovery of Debts due to the Bank and Financial 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 Otficet on 12102/2024 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 Application being O.A. No. 663 of 2022 is allowed and stands disposed of.

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Copy of the Judgement/Frnal Order be uploaded in the Tribunal's website. Fi e is consigned to the Record Room.

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(Dictated to steno, transcribed by her, corrected, signed and pronounced by me in the open Court on this the loth day of lanuary, 2024)

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( KAMALD --., PRESIDING OFFICER.

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Debts Recovery Tribuna!-3, Kolkata Order Sheet (Continuation)

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Case No. OA No.663 of 2022 Indian Bank Vs. M/s. Sharma Enterprise & Ors.
Date of Order Order with signature
Order No.
Order pronounced (vide separate sheets).
ot.10/01/2024
In the result, O.A. No. 663 of 2022 is allowed with costs. Issue
Recovery Certificate accordingly,
( Kamal De )
Presiding Officer
DRT-3, Kolkata

Indian Bank v. Sharma Enterprise and Ors.

Case brief

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Indian Bank v. Sharma Enterprise and Ors.

Case brief

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