The DTI allowed the applicant bank's original application for recovery of Rs. 50,99,266.15 with interest against the defaulting defendant borrower, who did not appear despite substitute service.
Recovery certificate issued under Section 19(22) RDB Act directing the defendant to pay Rs. 50,99,266.15 with interest @ 10.10% p.a. till realization.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
BEFORE THE DEBTS RECOVERY TRIBUNAL-I KOLKATA
PRESENT: -SHRI AMBUJA MOHAN DAS PRESIDING OFFICER
O.A. No. 91 OF 2023
DATE OF DELIVERY OF ORDER : 12th June 2024
Punjab National Bank , a Body Corporate constituted under the Banking Companies (Acquisitions and Transfer of Undertaking) Act,1970, having its Head Office at Plot No.4, Sector-10, Dwarka, New Delhi - 110075 and having its Branch, among others at Punjab National Bank, Bowbazar Branch, 235/2 Bipin Behari Ganguly Street, Kolkata - 700012.
..............APPLICANT
.............DEFENDANT
Counsel for the Applicant Bank: - Ms. Mekhala Kanji &
Ms. G. Chattopadhyay, Ld Counsels Counsel for the Defendant:- Set ex-parte on 01.05.2024
J U D G M E N T
Written Statement to controvert the claim of the Bank. Hence, the matter was declared exparte on 01/05/2024.
In the above circumstances it is ordered :
O R D E R
law in the event the entire amount is not paid by the said date.
Accordingly, the Original Application being O.A. No. 91 of 2023 is allowed and stands disposed of. All the IAs, if any, are also disposed of.
Copy of the Judgment/Final Order be uploaded in the
Tribunal’s website.
File is consigned to the Record Room.
(Dictated to Stenographer, transcribed by her, corrected, signed and pronounced by me in the open Court on this the day 12th June , 2024)
Place: Kolkata ( Ambuja Mohan Das ) Date: 12th June/2024 Presiding Officer
| Page No.- | Order Sheet(continuation) | |
|---|---|---|
| Case No. | OA/91/2023 Punjab National Bank- vs- Mr. Avijit Dey, Proprietor of M Impex. |
/s Star |
| Date of the order |
Order with signature | Office action with date and dated signature of parties when necessary |
| 12thJune 2024 |
Ld. Advocate Ms. G. Chottopadhay appeared for the applicant bank None appeared on behalf of the Defendant. Matter was heard in open Court on this the day of 01/05/2024. The detailed order in three pages annexed separately. The gist of the order is as follows: O R D E R |
|
| i) Claim of the Applicants is allowed with cost. |
||
| ii) The Defendant is liable to pay Rs. 50,99,266.15P with interest as per contractual rate @ 10.10% p.a. with monthly rests from 01.01.2023 against the Defendant till payment or realization. |
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| iii) It is declared that the claim is secured by hypothecated of secured assets as described in schedule-A at page no. 28 & 29 of the OA. iv) Let, a certificate be issued accordingly. |
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| v) Ld. Recovery Officer shall realize the amount as per the Recovery Certificate from the defendant in accordance with law. vi) Ld. Registrar of this Tribunal is directed to deliver recovery certificate in term of the final order/judgment for recovery of the sum against the defendants 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. vii) The parties are directed to appear before the Recovery Officer on 29/07/2024 for further action in accordance with law in the event the entire amount is not paid by the said date. Accordingly, the Original Application being O.A. No. 91 of 2023 is allowed and stands disposed of. All the IAs, if any, are also disposed of. Copy of the Judgment/Final Order be uploaded in the Tribunal’s website. File is consigned to the Record Room. (Dictated to Stenographer, transcribed by her, corrected, signed and pronounced by me in the open Court on this the day 12th June, 2024) |
||
| Place: Kolkata ( Ambuja Mohan Das ) Date:12thJune, 2024 Presiding Officer |
2 issues framed by the court
Whether the claim filed by the applicant bank for recovery of dues and interest against the defendant is maintainable and admissible.
Whether the defendant's failure to appear justifies deciding the matter ex parte.
2 provisions across 2 enactments
Punjab National Bank
Ambuja Mohan Das
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
