Allowed

Karur Vysya Bank v. Ms Ayesha Food Grains Wholesale Private Limited and Ors.

DRT22 May 2025OA/132/2024

Case brief

AI extract

What is this about?

The Debt Recovery Tribunal, ex-parte on hearing the applicant bank, allowed an original application for recovery of a loan sum of approximately Rs. 7.84 crore against the non-appearing defendants. The court determined the debt and ordered the issuance of a Recovery Certificate under relevant provisions.

What did the court decide?

Recovery of Rs. 7,84,08,351 with interest; debarment from property disposal; thirty-day payment period; issue of Recovery Certificate.

Karur Vysya Bank versus Ms Ayesha Food Grains Wholesale… — Banking and Recovery | DRT (2025)

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BEFORE THE DEATS RECOVERY TRTBUNAL-TII KOLKATA

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PRESE TI^.sRT KA AL DE

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PRESIDI G OFFTCER

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O.A. 132 ot 2024

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DATE oF DELTVERY OF ORDER I Z2lOSl2OZs

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Thc K.rur Vysya Bank Llmlted. a Banklng Company incorporated under #,,:i":"i1i:ii#"::v"".lJ:;i.::"l,ti:{:.;:?Jli,hf hf i *':,i**ttfrtlgffiI#+;:-iiffi

A,Pllcant Eank'

-ve.sus-

gfi fi+$***i';*#i$fl i1,.:ii+f,;1ffi :,, j,ni::

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ffi'"',':,1i"J"ff Jl,$f ll""i",iJ,'i:I'-'.i3i?,,f,^{"Hdl',".'."r,":::}

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-l

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I[:-l;f i1''ti ilJ:;.81.!:::il,i,,"#:ij, .of Jagannathpur Simultale west Eengal-7OO1So

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i !:::#11,"3:il;",x'.",:i;:H::

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' ffi:1ii";i:{#fr;d,$fr'",,i:

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.,. Defendants.

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For the appticant(s) : l1s. gylja pachisia, Ld. Advocate

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M.. Mtnhajuddtn, r_il. eOro.u-ti..

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For the Oefendant(s) ; None

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Set ex parte on L3/05/ZO2i

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JUOGEMENT

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The appticant Bank flled the presen ror recovery "r "^{,"";-;;;;;":'l liT'n o A No. 132 or 2024 on 28/02/2024} Lakh Eieht ,**"* ,i." ;;;*1t-1tt'"'(Rupees seven crore Eishty Four cash credrt racirity tos;#ffi :lry one onlv) from the derendants towards )rest, cost and other usual rellefs,

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The defendants are served wlth sum The defendants did not appear, as there was no representatio, ,., ,n" o.illls' on t3/osr2o2s,."o case was fixed ror ex-parte hearine

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".r,^"r-r"n" "::"ffiJ:

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The applicant Bank examined twentu ersht d-ocuments through Mr. DhananJay Gir,, rl"r"s"., ,"rt"a "r;r;;ffi*-: -A-1 to Exhibtt Annexure-A_28,

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Heard the Ld. Counsel for the appllcant^Bank,

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The polnt that arlses for conslderatlon is^:

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Whether the appllcant Bank ls entitled to the clalm made ln the^{OA agalnst the} defendants and OA schedule^properties as^prayed for?

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As stated supra, the defendants remained absent and dld not turn up to controvert the verslon of the O.A. of appllcant Bank. The Evldence Affldavlt coupled with the recltals ln the documents vlz., Exhlblts Annexure-A-l to Annexure-A-28 marked on behalf of the applicant Bank, establlshed the claim of the applicant Bank agatnst the defendants and OA schedule properUes. Hence, I hold that the defendants are jolnuy and severally llable to pay to the appllcant Bank the clalms made in the OA wlth future lnterest and costs.

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In the result, the present Orlgtnal Application ls allowed ex-parte with costs, as under:-

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OROER

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-1

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(1) o,A. No. 132 or 2024 fired by the appficant Bank is alowed and debt rs determrned wlth cost agalnst the defendants. It as hereby ordered that appltcant Bank is enufled to rccover from the defendants the total amount to the tune of Rs, 7,84,0g,351/_ (Rupees Seven Cro.e Elghty Four Lakh Eight Thousand Three Hundred Flfty One only) wlth pendent llte and future lnterest @ 13.75% per annum tnterest wlth slmple on the amount due from the date of flllng of the Orlglnal Applicaflon l.e 28.02.2024 till full and final reallzation of the claim amount,

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(2) Amount, lf any, pald by the defendants in the loan accounts or amount, if any, recovered by the appltcant Bank after flfing of the O.A. the same be taken into account while arrlving at the exact amount of dues/debt payable by the defendants. Accordingly, pendent llte and future lnterest shall be calculated on the reduced amount,

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(3) Defendants are debarred from dtsposlng, allenaflng or deallng wlth any of the properties belonglng to them till the aforesaid decretal debt is recovered from the defendants.

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(4) Defendants are glven a time of thirty days from the date of the JudgmenvFinal Order for repaylng of the above mentioned dues, so lnflmated to them. In case the defendants fa to pay the dues withln the above menfloned flme, the appltcant Bank is enflfled to recover lts dues by sale of secured assets, lf any. lppltcant aant ts also entifled to proceed agarnst pe*onar propeftres of the defendants (Both movabre and immovable) and also proceed against the defendants personally to recover tne dues ln accordance wlth law.

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(5) Let the Ce.tiflcate of Recovery be drawn up by Ld. Registrar forthwith ln terms of

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Judgment for issuance of the same against defendants In favour of the Appllcant

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Bank under sectlon 19(22) of the^{Recoveryof Debts andBankruptcyAct, 1993and} put up the same for lssuance of the Certlflcate.

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(6) Ld. Recovery Officer shall reallze the amount as^per the Recovery Certlflcate^from the defendants ln accordance wlth law.

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(7) Ld. Reglstrar of thls Trlbunal ls directed to dellver Recovery Ce.tlflcate ln term of the flnal orderludgment for recovery of the sum agalnst the defendants ln favour of the Appllcant Bank under Sectlon 19(22) of the Recovery of Debts due to the Bank and Flnancial Instltutlons Act, 1993 now known as Recovery of Debts and Bankruptcy Act, 1993.

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(8)The partles are dlrected to appear before the Recovery Offlcer on 25106/2025 for further actlon ln accordance wlth law in the event the entlre amount ls hot pald by the said date.

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Accordlngly, the Ol.lglnal Appllcatlon belng O.A. No. 132 of 2024 ls allowed and stands dlsposed of.

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Copy of the JudgmenvFlnal Order be uploaded tn the Trlbunalt website.

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Flle ls conslgned to the Record Room.

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(Dlctated to sleno, transcribed by hlrh, corrected. slgn€d and pronounced by rn€ In the o9€fl Court on thtg the 22d day of May, 2O2S)

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-^- s 5I ( KAMAL OE ) PRESIDING OFFICER.

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

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O.A. 132 of 2024 The Xarur Vysya B.nk LlmltGd
V5.
M/s. Ayesha Food Graln3 WholGc.lc Pvt. Ltd. & Ors,
Date of Order Order wlth 5lgnature
Order No.08
Order pronounced (vlde separate sheets).
ot.22t 0512025
mb
ln the result, O,A. 132 of 2024 ts allowed wlth costs. Issue
Recovery Certlflcate acco.dlngly.
( Kamal De )
Presiding Officer
DRT-3, Kolkata

Karur Vysya Bank v. Ms Ayesha Food Grains Wholesale Private Limited and Ors.

Case brief

What is this about?

What did the court decide?

Karur Vysya Bank v. Ms Ayesha Food Grains Wholesale Private Limited and Ors.

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

Coram

Case details

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