Allowed

Central Bank of India v. Ms Singh Traders and Ors.

DRT3 Jan 2025OA/500/2023

Case brief

AI extract

What is this about?

This court, the Debts Recovery Tribunal-III Kolkata, allowed an Original Application filed by Central Bank of India for ex-parte recovery of a debt of Rs. 70,73,508/- from the defendants for a cash credit. The defendants were absent, and the court found them liable. The court issued a recovery certificate and debarred the defendants from disposing of their properties.

What did the court decide?

Recovery of Rs. 70,73,508/- with pendentelite, future interest @10.70%, penal interest, and costs. Certificate of recovery issued. Defendants debarred from disposing of properties. Thirty days time gi

Central Bank of India versus Ms Singh Traders and Ors. — Banking and Recovery | DRT (2025)

¶1

BEFORE THE DEBTS RECOVERY TRIBUNAL-III KOLKATA PRESENT: -SRI XAMAL DE.

¶2

¶3

PRESIDING OFFICER.

¶4

O.A. No, 50O of 2023.

¶5

DATE OF DELMRY OF ORDER: O3lot/2lJ25

¶6

Central Bank of Indla is a body corporate, constituted under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 having its registered office at Chandermukhi, Narimanpoint, Mumbai-400021 and address for serviceCentral Bank of India, Flanicktala Branch, having its office at L428, APC Road, Police Station: Burotala, Kolkata-700005 and upon its Ld, Advocate Ms. Samapti Roy, 54 Jatindra Mohan Avenue, 2nd Floor, Shovabazar, Kolkata-7OOOOs within the jurisdiction of this Ld. Tribunal.

¶7

... Applicant Bank.

¶8

-Versus-

¶9

M/s. singh Traders

¶10

Rakesh Kumar Singh

¶11

Smt. Rajashree V. Telang

¶12

Address of defendant nos. 1 & 2 is at 1/16, Sahid Nagar, Dhakuria, Oistrict:South 24 Parganas, Kolkata-700031, address of defendant no. 3( Wo. Sri Rakesh Kumar Singh) is at 311/19, Prince Anwar Shah Road, Kolkata-700075 and also at 215, Jheel Road(Bank Plol), 15/2/3, Sweet Land, Flat No,-C-2, 3d Floor, Kolkata700075 and service of all notices is same as above.

¶13

... Defendants.

¶14

Counsel for the Applicant Bank:^-

¶15

l.ls. Samapti Roy, Advocate,

¶16

Set ex-parte on L6/t2/2024

]UDGEMENT

The Applicant Bank flled the^present O.A.^{being No. 0,4./500/2023on 18108/2023for} recovery of a total sum of Rs. 70,73,508/-^{(RupeesSeventy LakhSeventy threethousand} five hundred and eight )only from the Defendants^{towardsCashcredit together with} interest, cost and other usual reliefs.

¶23

The Defendants are served wlth summons, The^{defendantsdid not apPear,as therewas no} representation from the defendants, the^{case was fixed for ex-partehearingon 16/1212024'} and heard ex-parte accordinglY.

¶24

The Applicant Bank examined 16 documents^{through Sri MishantKumar, Branch Managerof} Central Bank of India marked as Exhibit^{Annexure-A-1to ExhibitAnnexure-A-16'}

¶25

Heard the Ld. counsel for the Applicant^Bank.

The point that arises^{forconsiderationis:}

¶30

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

¶31

¶32

As stated supra,^{the Defendant remained absentand did not turn up to controvert the} version of the O.A.^{of Applicant Bank. The EvidenceAffidavit coupled wlth the recitals in the} documents viz,, Exhibits^{Annexure-A1to Exhibit Annexure-I6 marked on behalf of the} Applicant Bank,^{establishedthe claim of the Applicant Bank against the Defendants andOA} schedule^{properties. Hence, I hold that the Defendants are jointly and severally liable to pay} to the Applicant^{Bankthe claims maJe in the OA with futureinterest and costs'}

¶33

ln the result, the^{present Original Applicationis allowed ex-parte with costs' as under:-}

¶34

ORDER

¶35

(1) O.A. No. 5OO of^{2023filed by the AppticantBankis allowed and debt is determinedwithcost} against the defendants,^{lt is hereby orderedthat applicant bank is ent'tled to recoverfrom} the defendants^{the total amount to the tune of Rs TO'73'508/-(RupeesSeventyLakh} Seventy three^{thousandfive hundred andeight)only with pendenteliteand future interest} @^{10.70% perannum,alongwlthpenal lnterest at therale of zqhperannum with monthly} rest interest^{due from the dateof filing of the originalAppllcation i,e. 18.08.2023 till full} and final^{realization of the claimamount'}

¶36

(2) Amount, if any,^{paid by the defendants in the loan accounts or amount' if any' recovered by} the Applicant^{Bank after filingof the O A' the same be takeninto accountwhile arrivingat} the exact amount^{of dues/debt payable by the defendantsAccordingly' pendentelite and} future interest^{shall be calculatedon the reducedamount'}

¶37

(3) Defendants are^{debarredfrom disposing' alienatingor deallngwith any of theproperties} belonging^{to them tall the aforesaid decretaldebt is recoveredfrom the defendants'}

¶38

(4) Defendants are^{given a time of thirtydaysfrom the date of the ludgemenvFinaiorder for} repaying of^{the above mentioned dues, so intimated to them ln casethe defendanGfail to} pay the dues within^{the above mentionedtime' the applicant bank is entitledto recoverits} dues by^{sale of secured assets,if anyApplicant bank is also entitled to proceed against} personal properties^{of the defendants(Bothmovableand immovable)and alsoproceed} against the^{defendants personallyto recover the dues in accordancewith law'}

¶39

(5) Let the Certiflcate^{of Recoverybe drawn up by Ld' Registrar forthwith in termsof} ludgement^{for issuanceof thesame against defendantsin favour of theapplicantbank} Undersectionlg(22)oftheRecoveryofoebtsandBankruptcyAct,lgg3andputupthe same for^{issuanceof the Certificate'}

¶40

(6) Ld. Recovery^{Officer shall realizethe amountas per the Recovery certificatefromthe} defendants^{ln accordancewlth law'}

¶41

(7) Ld. Registrar of this^{Tribunal is directed to dellver recovery ce'tificate in termof thefinal} order/iudgement^{for recovery of the sum agalnst the defendantin favourof the Applicant} Bank under Section^{19 (22) of the Recovery of Debtsdue to the Bank andFinancial} Instltutions Act, 1993^{now known as Recoveryof Oebtsand BankruptcyAct' 1993'}

¶42

(8)The partles are directed^{to appear before the Recovery Omceron 31101/2025 for further} actlon In accordance^{with lawin the eventthe entlreamountls not paidby the saiddate'}

¶43

Accordingly, the^{originalApplication beingO'A No' 500 of 2023 is allowedandstands} dlsposed of

¶44

Copy of the ludgemenvFinal^{Order be uploadedin the Trlbunal's website} File is consigned^{to the Record Room'}

¶45

{Dictated to steno, transcribed^{by her, corrected,sqned and} ironorna"o^{uv ,",ntheopencourton the 3'ddaY} of lanuary, 2025).

¶46

( KAMAL DE ) PRESIDING^OFFICER.

¶47

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

¶48

central Bank of India
Case No. O.A'l500/2023
Vs,
Order No,7 Order pronounced (vide separate sheets)'
Dt.03/01/2025
ln the result, O A, No, 5OO of 2023 is allowed with
costs. Issue Recovery Certificate accordingly'
( Kamal De )
Presiding Officer
DRT-3, Kolkata

¶49

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

¶50

CaseNo,O.A./	500/²⁰²³	CentralBankoftndia Vs. M/s.SinghTraders&OIa
DateofOrder		orderwithsignature
OrderN0.06 pt.16l1212024	Present:. ForApplicant ForDefendants	Ld. CounselMs.S.^RoY None
	TheReg termsoforder turned up^desp upontheOefen ex-parte,^The availableto^th evidenceisto parte.Heardth order, Applicant may^f ToO3/0U2025	istry^{hasissuednoticeto theDefendantsin} ^{passedbythisTribunal'Defendantshave not} ^{itethefactthat thenotices have beenserved} dants.^{Appllcantprayedforhearing ofthecase} ^{matterispendingsince2023Hence right} ^{eDefendantsforfilingofw'sandcounter} ^{beclosed,Itisclosed'TheOAproceeds ex-} eLd^{Counselforthe ApplicantReservedfor} ^{llewrittennotesof argument'} ^fororder.
		(Kamal De) PresidingOfficer DRT-3,Koikata

Central Bank of India v. Ms Singh Traders and Ors.

Case brief

What is this about?

What did the court decide?

Central Bank of India v. Ms Singh Traders 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

Similar cases

Bank of Baroda versus Smt Lakshmi Shah Das

Canara Bank versus Rajat Kanti Das

Indian Bank versus M/S Best Services and Ors.

Mr Tapas Dutta versus Iifl Home Finance Limited

Sanjay Kumar Shaw versus Authorised Officer of Assets Reconstruction Company India Ltd. and Ors.

Bappa Enterprise and Ors. versus Ugro Capital Limited and Anr.