Allowed

Bank of India v. Ms Joy Baba Loknath Trading Company and Anr.

DRT27 Oct 2025OA/157/2022

Case brief

AI extract

What is this about?

The Recovery Tribunal allowed an Original Application filed by Bank of India to recover Rs. 21,41,647.30 from absent defendants. The debt was determined with interest, restrictions on property disposal were imposed, and a Recovery Certificate was directed to be issued under the relevant Act.

What did the court decide?

Recovery of Rs. 21,41,647.30 with pendent lite interest; recovery against secured/personal properties after 30 days; issue of Recovery Certificate.

Bank of India versus Ms Joy Baba Loknath Trading Company and… — Banking and Recovery | DRT (2025)

¶1

¶2

BEFORE THE^{OEBTS RECOVERY TRIBUNAL-IIIKOLKATA} PRESENT:^{-SRIKAMAL DE'}

¶3

PRESIDING OFFICER.

¶4

O.A. No. 157^{OF 2022'}

¶5

DATE OF DELMRY^{OF ORDER|27llol2o25}

¶6

Bank of tndia is^{a body corporate constitutedunder the Bank'ngcompanies} (a.qu,r,,,on and Transfer of^{undertakings)Act, 1970, having its registered Office at} stui xorr"', c-5,^{G-BIock,Bandra Kurla complex, Bandra (East)'Mumbai-400051} and carryang^{on business,inter-alia, at D C Dey Road Branch' 105' Debendra} Chandra Dey^{Road, Kolkata-700015.P S.- Entatly,West Bengal'withinthe} jurisdaction of this Ld Tribunal.

¶7

Applicant Bank.

¶8

-Versus

¶9

1. lY/s. Joy Baba Loknath^{TradingCompany,a proprietorshipfirm, having its} registered office at 2, Chingrighata^{Lane,Kolkata-700015.}

¶10

1. Dipankar Chakraborty,^{proprietor of lY/s. loy Baba Loknath TradingCornpany,} (PAN NO. ASGPC4oSIK) having office at 2, Chingrighata^{Lane, Kolkata-70001s'}

¶11

Defendants.

¶12

Counsel for the Applicant Bank: -

¶13

Aritra Kumar Roy, Advocate, Set ex-parte on 16/09/2025

¶14

JUDGEMENT

¶15

The Applicant Eank filed the present O,A. being No. O.A./157/2O22 on 25/03/2022 tot recovery of a total sum of Rs, 21,41,647.3O/- (Rupees twenty one lakh eaghty one thousand six hundred eighty seven and paisa thirty only) from the Defendants towards CGTMSE, CESS and G.E.C.L together with interest, cost and other usual reliefs.

¶16

The Oefendants are served with summons. The defendants did not appear, as there was no representation from the defendants, the case was fixed for ex-parte hearing on 161O912025, and heard ex-parte accordingly.

¶17

The Applicant Bank examined 44 documents through Sri Angom Ramchandra Singh, Chief Manager marked as Exhibit Annexure-A to Exhibit Annexu.e-M.

¶18

Heard the Ld. Counsel for the Applicant Bank.

¶19

The point that arises for consideration is :

¶20

Whether the Applicant Bank is entitled to the claim made in the OA against the Defendants and OA schedule properties as prayed for?

¶21

As stated supra, the Defendant remained absent and did not turn up to controvert the version of the O.A. of Appllcant Bank, The Evidence Affidavit coupled with the recitals in the documents viz., Exhibit Annexure-A to Exhabit Annexure-M marked on behatf of the Applicant Bank, established the claim of the Applacant 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,

¶22

¶23

In the result, the present Ortginal Application is allowed ex_parte with costs, as under:_

¶24

ORDER

¶25

(1) O.A. No. l't ot 2022 filed by the Applicant Bank is allowed and debt is determined with cost against the defendants. It is hereby ordered that applicant bank as entided to recover from the defendants the total amount to the tun€ of Rs. 21,g1,6g7.30/- (Rupees twenty one lakh eighty one thousand six hundred eighty seven and paisa thirty onty) with pendentelite and

¶26

J 11* l1:"rest @ ro.65yo per annum interest with simpte on the amount due from the oate of firing 0f the originar Appricataon i.e. 25/03/2022 ti, fu, and finar rearization of the claim amount.

¶27

(2) Amount, if any, paid by the defendants in the loan accounts or amount, if any, recovered by the Applicant Bank after fili the exact amount ",,,".,130i'olj',""l,j;lir'Jlljijlll";:ff;.il,;:::"#:,7 future interest shall be calculated on the reduced amount.

¶28

(3) Defendants are debarred frl disposing' alienating or dealing with any of the properttes

¶29

beronging to them til the af( )resald decretal debt is recovered from the defendants,

¶30

(4) Defendants are given a time of thirty days from the date of the Judgement/Finar order for repaying of the above mentir dues' so intimated to them. In case the defendants fair to

¶31

pay the dues wittrin ttre abol t"nt'on"o time, the applicant bank is entided to recover its

¶32

dues by sale of secured u".'" .il:]i,T

¶33

persona properties " "" .ll;i"ll], :::1 i:r" ff ::ff :,,:^jj"".:,:, ;:::: a9ainst the defendants personally to recove. the dues in accordance with law_

¶34

(5) Let the Certifacate of Recor o" drawn up by Ld' Registrar forthwith in terms of

¶35

Judgement for issuance o, al"' same against defendants in favour of the applicant bank

¶36

under section 19 (22) ofthe ot Debts and Banknrptcy Act, 1993 and put up the

¶37

same for issuance of,n" ""n,l,l?u,

¶38

amount as^{per the Recovery Certificatefrom the}

¶39

(6)Ld. Recovery^{Officer shall realize the} defendants^{in accordancewith law'}

¶40

(7)Ld. Registrar of^{this Tribunal is directed to deliver recovery certificatein term of thefinal} order/judgement^{for recovery of the sum against the defendantin favourof the Applicant} Bank under^{Section19 (22) of the Recovery of Debts due to the Bank andF'nancial} Institutions^{Act, 1993 now known as Recoveryof Debtsand BankruptcyAct' 1993}

¶41

to appear^{before the Recovery Otticeron 2711-112025for further}

¶42

(8)The Parties are^directed law in the event^{the entire amount is not paid by the said date'}

¶43

action in^{accordancewith}

¶44

Accordingly,^{the Original Application beingOA No 157 of 2022is allowedandstands} disposed of.

¶45

Copy of the^{Judgement/Final Order be uPloadedin the Tribunal's website'} File rs consagned^{to the RecordRoom}

¶46

rDrctated to steno,^{transcribed by her, corrected'srgned and} [ftffiJ;;;; ;-,."-;;;n^{c;urton th's the 27'n dav} of october, 2025)

¶47

( KAMAL DE ) -- PRESIDING OFFICER.

¶48

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

¶49

caseNo.oAN	o. 157of2022	BankofIndia Vs. M/5.JoyBabaLoknath TradinqCo'& Anr.
DateofOrder		Orderwithsignature
OrderNo.10 Dt.27/t0/2025	Order^pronounced	^(videseparate sheets),
	Intheresult,O.A. RecoveryCertifica	No.157of2022ls allowedwithcosts. Issue te accordingly.
ss		(Kamal De) PresidingOfficer DRT-3, Kolkata

Bank of India v. Ms Joy Baba Loknath Trading Company and Anr.

Case brief

What is this about?

What did the court decide?

Bank of India v. Ms Joy Baba Loknath Trading Company and Anr.

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

Similar cases

Sri Samir Chatterjee and Anr. versus Fullerton India Credit Company Ltd. and Anr.

Punjab National Bank versus Rabin Naskar and Anr.

Bank of Baroda versus M/S Trade Link Engineering Enterprise and Anr.

Bank of India versus Saikat Samadder and Ors.

Sri Dilip Kumar Dey and Anr. versus Edelweiss Asset Reconstruction Co. Ltd. and Anr.

Kinkar Mondal and Anr. versus Tata Capital Housing Finance Ltd. and Anr.