Allowed

Uco Bank v. Ms Blue Square Engineering and Ors.

DRT22 Mar 2024OA/682/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an ex-parte application filed by UCO Bank for recovery of dues totaling approximately Rs. 2.73 crore from a proprietorship firm and its proprietor and guarantor. The court determined the debt with pending and future interest.

What did the court decide?

Allowed OA, debt determined with costs, recovery certificate directed to be drawn up and issued per Section 19(22) RDB Act 1993.

Uco Bank versus Ms Blue Square Engineering and Ors. — 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 OFFICER.

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O.A. No.682 OF 2022.

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DATE OF DELMRY OF ORDER | 22/0312024

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UCO Bank, a nationalized bank constituted under the Banking Companres (Acquisition and Transfer of Undertakings) Act, 1985, having its registered office at 10, B.T.14. Sarani, Kolkata-700001 and also carrying on business from numerous branches including one UCO Bank Shyambazar Branch having its office at 202, APC Road, P.S.-Shyampukur, Kolkata-700004, duly represented by Sri Ajay Kumar, within the^jurisdiction of this Ld. Tribunal.

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Applicant Bank

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-Versus-

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lY/s. Blue Square Engineering, a proprietorship firm having its^place of business at^1st Floor, 4, Jatin Das Road, Kolkata-700029, PAN-ACTPAB691G.

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Sanjay Agarwal, S/O- Santosh Kumar Agarwal, aged about 56^years being^a proprietor of Defendant No. 1, Residing at Flat-11C City Hagh 85, Prince Anwar Shah Road Kolkata-700033.

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I\4rs. Kusum Agarwal, Wo- Sanjay Agarwal, aged about 54^years beinq a^guarantor, Residing at Flat 11C City High 85, Prince Anwar Shah Road Kolkata-700033.

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Defendants.

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CoLrnsel for the Applicant Bank:

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Sachetan Ghosh, Advocate,

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Set ex-parte on 20lO2l2024

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]UDGEI,1ENT

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The Applicant Bank filed the^present O.A. being No. O.A./6a212022 on^{19/7212022 fot} recovery of a total sum of Rs. 2,73,44,433.011'^(Rupees two^{croreseventy three lakh forty} four thousand four hundred thirty three and^paisa one only)^from the^{Defendants towards} Cash Credit together with interest, cost and other usual^reliefs.

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The Defendants are served with summons. The defendants^{did not appear,as therewas no} representation from the defendants, the case was fixed for ex-parte^{hearingon 20102/2024,} and heard ex-parte accordingly.

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The Applicant Bank examined 5 documents through Sri^{Aiay Kumar,BranchManager} marked as Exhibit Annexure-A to Exhibit Annexure-E.

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Heard the^{Ld. Counselfor the ApplicantBank}

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The^{pointI'hat arises forconsiderationis:}

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

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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 ApplicantBank The EvidenceAffidavit couptedwith the recitalsin the} documents^{viz, Exhibits Annexure-Ato Exhibit Annexure-E marked on behalf of the} Applicant Bank,^{establishedthe claim of the ApplicantBankagainstthe Defendants and OA} schedule^{properties. Hence,I hold that the Defendantsare jointlyand severally liable to pay} to the Applicant^{Bankthe claims 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. 6A2 ot 2022 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 tune^{of Rs 2,73,44,43301/-(Rupeestwo crore} seventy three lakh forty^{four thousand four hundred thirty three and paisa one only) with} pendentelite and future interest @ 10.600/0 per annum interest with simple^{on the amount} due from the date of filing of the original^Application ie.^{1911212022 till fu,l 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 anto account while 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 JudgemenvFinal Order for repayinq 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 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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,l^{,0. *".o"",} Officer shall reatize the amount as per the Recovery Certificate from the detendants rn accordance wrth law.

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(7) Ld. Registrar of this Tribunal is directed to deliver recovery certiftcate in term of the final order/judgement for recovery of the sum against the defendant in favoLrr of the Applicant Bank under Section 19 (22) of the Recovery of Debts due to the Bank and Frnancal Institutions Act, 1993 now known as Recovery of Debts and Bankruptcy Act, 1993.

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(B)The parties are directed to appear before the Recovery Officer on 26/0412024 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 Ongrnal Application being O.A. No. 682 of 2022 is allowed 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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(Dictated to steno, transcribed by her, corrected, signed and pronounced by me in the open Court on the 22"d day of Iqarch, 2024)

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.1--

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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. eg2 ot 2022
UCO Bank Vs. M/s. Blue Square Enginerering & Ors.
Date of Order Ord€r with signature
Order No.
Order pronounced (vide separate sheets).
Di.22 / 03/ 2024
in the result, O.A, No. 682 of 2022 is allowed with costs. Issue
Recovery Certificate accordingly.
( Kamal De )
Preslding Officer
DRT 3, Koikata
ss

Uco Bank v. Ms Blue Square Engineering and Ors.

Case brief

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Uco Bank v. Ms Blue Square Engineering and Ors.

Case brief

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