The Tribunal decided an original application filed by Punjab National Bank against three respondents for recovery of Rs.42,35,555.00 filed under the Recovery of Debts & Bankruptcy Act, 1993. The claim was adjudicated and allowed.
Recovery of Rs.42,35,555.00 and future interest allowed; transfer of mortgaged properties prohibited.
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.
Page No
KOLKATA DEBTS RECOVERY TRIBUNAL NO. 2 ORDER SHEET (Continuation)
Punjab National Bank
O.A.1115 ot2022
Case No.
Vs
M/s Swagata Enterprise & Ors.
Office action with
Date date and dated
of Order with Signature Signature of
Order parties when
necessary
14 Counsel for the parties:
22.12.202 Ms. Paromita Banerjee, Ld. Advocate representing Ms.
Samapti Roy, Ld. Counsel for the applicant Bank.
None for the defendants.
O.A.1115 of 2022 is allowed and disposed of.
Final order / Judgment is in separate sheet of 4 pages.
File be consigned to record room.
Order be uploaded on the Tribunal,s website.
ffin"in*,
Presiding Ofiicer
DRT-2, Kolkata
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O.A.l 1 1 5 d 2022 - DRr -?,Kol
DEBTS REGOVERY TRIBUNAL - 2, KOLKATA Jeevan Sudha Bldg.07th Floor,42lC, J.L. Nehru Road, Kolkata -lOOOZl Before Shri Arbind Madhav. Presidinq Officer
O.A. No.115 ot2022
ln the matter of
Punjab National Bank, a body corporate duly constituted under the Banking companies (Acquisition and rransfer of Undertaking) Act v of 1970, having its Head office at plot No.4, sector 10, Dwarka, New Delhi-110075 and carrying on business, inter-alia, through one of its Sastra Division Circle Office, Nadia,, % Pandit L.K. Moitra Road, Krishnanagar, District - Nadia, Pin -741101 and branches inter-alia at santipur Branch, post office - Shantipur, District - Nadia, Pin -741404. West Bengal.
Applicant Bank
-Versus-
Defendants
Counsel for parties:
For the Applicant Bank : Ms. Samapti Roy
For the Defendants : Ex-Pafte.
FINAL ORDER / JUDGMENT Delivered on 22. 1 2.2025
a
Applicant, Punjab National Bank, instituted the present Application being Original Application No.115 of 2022 on 17.05.2022 against three Defendants under Section 19(1) of the Recovery of Debts & Bankruptcy Act, 1993 (amended from time to time) for recovery of Rs.42,35,555.00 (Rupees forty two lakhs thirty five thousand five hundred fifty five) inclusive of interest calculated upto 28.02.2022 together with further interest to be calculated on and from 01.03.2022 at the floating rate of 6.650lo (Cash Credit) &7.10o/o (Housing Term Loan) per annum, along with penal interest @ 2% pq annum with monthly rests, till the date of realization of the entire dues.
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O.A.t 1 1 5 d 2022 - DRr -z,Kot
Heard the Ld. Counsel of the applicant Bank
@)
t
o .A.r11i o! 2022 - DRr-zKor
the applicant Bank with pendente lite and future interest, till realization. I allow the claim as made by applicant Bank in the original Application. Applicant Bank has prayed further* interest to be calculated on and trom 01.03.2022 at the floating rate of 6.657o (cash credit) & 7.10% (Housing Term Loan) per annum along with penal interest @ 2o/o per annum with monthly rest, till the date of realization of the entire dues, while in Demand Promissory Notes dated 11.01.2018 & 18.07.2019 the rate of interest @ g.4so/o per annum and @ 8.700/o per annum respectively with monthly rests, have been mentioned. Therefore, in my view, the pendente /ife & future rate of interest @ g.7oyo per annum, with quarterly rests, from 01.03.2022, till the actual payment or realization thereof, is allowed.
OR DER
(i) o.A. No.115 o12022, filed by applicant Bank, is allowed and debt is determined with cost against the Defendants No.1 , 2 & 3. It is hereby ordered that the Defendants No.1 , 2 & 3 are hereby directed to pay, jointly and / or severally, the total debt amount of Rs.42,35,555.00 (Rupees forty two lakhs thirty five thousand five hundred fifty five) due and payable, inclusive of interest and other charges calculated upto 29.02.2022; and interest for the period pendente lite and future @ 8.70o/o pet annum, with quarterly rests, from 01.03.2022, till realization of the entire sum due and recoverable.
(ii) Amount, if any, paid by the Defendants in the loan accounts or amount, if any, ' recovered by applicant Bank after filing of the Original application, the same may be taken into account while arriving at the exact amount of dues,/debt payable by the Defendants. Accordingly, the pendente lite and future interest shall be calculated on the reduced amount.
(iii) The Defendants No.1,2 & 3 are debarred from transferring, alienating, encumbering or disposing of the mortgaged immoveable property(s), described in Schedule at page 28 and Para lll.A at pages 9 to'12 of the original as under - "ppli""tion,
Mortoaoed lmmoveable Asset:
"Distict : Nadia, P.S. & Sub Registrar: Santipu, Mouza: Chakraghunathpur, J.L. No.7Q R.S. Khatian No.182, L.R. Khatian No.285, (as per parcha), L.R. Plot No.127, Nature: Viti(Conveded), Area 3% Katha or 5.77 decimal which is bufted and bounded' as .'
| o' |
|---|
| OntheNorth: | Land of Kumaresh Halder |
|---|---|
| On theSouth: | Joy Gopal |
| OntheEast: | 4handwideroad & Bharati Halder |
| OntheWest: | Bagan." |
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O.A.1115 ol2g2, - DRr-z ot
The Defendants are also debarred from transferring, alienating, encumbering or disposing of any other property(s) either movable or immovable and assets belonging to them till the aforesaid adjudicated debt amount are recovered from the Defendants No.1, 2 &3.
(iv) The Defendants are given a time of sixty days from the date of this Final order / Judgment for repayment of the above mentioned dues, so intimated to them. ln case the Defendants fails to pay the dues within the above mentioned time, the applicant Bank is' entitled to recover its dues by sale of secured properties, as aforesaid. Applicant Bank is also entitled to proceed against personal properties of the Defendants both moveable and immoveable and also proceed against the Defendants No.2 & 3 personally to recover the . dues, in accordance with law.
(v) Let the certificate of Recovery be drawn up by Ld. Registrar forthwith in terms of Final order / Judgment for issuance of the same against the Defendants No.1, 2 & 3 in favour of applicant Bank under section 19(22) of the Recovery of Debts and Bankruptcy Act, 1993 (amended from time to time) and put up the same for signature for issuance.
(vi) Ld. Recovery Officer shall realize the amount as per the Recovery Certificate from the Defendants No.1, 2 & 3, in accordance with law.
(vii) Ld. Registrar of this Tribunal is directed to place Recovery Certificate in terms of this Final Order / Judgment under section 19(22) of the Act of 1993.
Accordingly, the Original Application, being O.A. No.iiS ol 2022 is allowed and stands disposed of.
This order is dictated and corected by the undersigned and pronounced on this the22d day of December,2025.
Copy of the Final Order / Judgment be uploaded in the Tribunafs Website.
l&
l.v, I,\6) A (Arbind a Presiding fficer DRT-2, Kolkata
2 issues framed by the court
Whether the applicant bank was entitled to recovery of outstanding loan dues and future interest.
Whether the respondents were properly directed to pay the claimed amount jointly and severally.
2 provisions across 1 enactments
Punjab National Bank
M/s Swagata Enterprise
Sri Sujit Mondal
Sri Shribas Mondal
Arbind Madhav
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
