Allowed

Karur Vysya Bank v. Ajit Adhikary and Anr.

DRT9 Jun 2025OA/555/2024

Case brief

AI extract

What is this about?

DRT-III Kolkata allowed an ex-parte Original Application filed by Karur Vysya Bank Ltd. for recovery of debt against absent defendants, determining the principal amount with future interest and directing the issuance of a recovery certificate under Section 19(22) of the RDB Act, 1993.

What did the court decide?

Original Application allowed; debt determined at Rs. 1.11 Crores with future interest; defendants debarred from alienating property; Recovery Certificate directed.

Karur Vysya Bank versus Ajit Adhikary and Anr. — Contract and Commercial Disputes | DRT (2025)

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

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PRESIDING OFFICER.

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o.a, No. 555 0F^2024.

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DATE OF DELIVERY^{oF ORDERI09106l2.)25}

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The Karur Vysya^{BankLtd. is a banking company, duly incorporated under the} provisions of Indian companies^{Act 1913 and having its Registered Office at 20'} Erode Road, Vadivel^{Nagar,L.N S, Karur_639002and carryingon business from its} branch office at 80/2^{Bangur Avenue Block-C Ground Floor Near TownHall Kolkata'} West Bengal, 7OOO55,^{Bangur Avenue Branch,within theiLlrlsdictionof thisLd} Tribunal,

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Applicant Bank.

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Versus-

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aiit Adhikarv, Proprretor^{of Adhikary Enterprise,PAN NOAGPPA8979B'restding at} 2i15, t',tetalr subhas^{Road, New Barrackpore, Kolkata-700131'}

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Seema Adhikary,^{PAN NO. BQMPAOO94H, w/o Alit Adhikarv' residingat 205' Netall} Subhas Road,^{New Barrackpore, Kolkata-700131}

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Defendants

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Counsel for the APPlicant^Bank:-

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A. K. Singh & Associates,

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Set ex_Parte^on \4/05/2025

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JUDGEIIENI

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The Applicant^{Bank filed the presentO Abeing NoO A /555/2024on 03/09/2024fot} recovery of a total^{sum of Rs 1,11,10,251 18/-(Rupeesone crore eleven lakhten thousand} two hundred^{fifty one andpaisaeighteenonly) from the Defendants towardsoCCand HPMA} facility together^{with interest, cost andother usual reliefs'}

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TheDefendantsareservedwithsummons.ThedefendantsaPpearedbutfailedtofileany w.s. There was no^{representation from the defendants subsequently andthe case wasfixed} for ex-parte hearing^{on 74lOSl2025, and heard ex-parte accordingly}

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The Applicant Bank examined 14 documents^{through Mr. Akbar Dorai, Deputy General} Exhibit Annexure-A^{to Exhibit Annexure-N}

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Manager marked as

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Heard the Ld, Counsel^{for the ApplicantBank}

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The^point that arises for consideration^rs

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whether the Applicant Eank is entitled to the claim madeⁱⁿ the^{OA against the Defendants} and OA schedule^properties as^prayed for?

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As stated supra, the Defendants remained absent and did^not turn^{up to controvertthe} version of the O.A. of Applicant Bank. The Evidence Affidavit coupled^with the^{recitals in the} documents viz., Exhibits Annexure-A to Exhibit Annexure-N^{markedon behalf} of^the Applicant Bank, established the clajm of the Applicant 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.

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In the result, the^present Oraganal Application is allowed ex-parte with costs, as under:_

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ORDER

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r , !

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(1) O.A. No. 555 of 2024 filed by the Applicant Bank is allowed and debt is determined with cost against the defendants. It as hereby ordered that applicant bahk is entitled to recover from the defendants the total amount to the tune of Rs. 1,11,10,251.18/-^(Rupees one crore eleven lakh ten thousand two hundred fifty one and paisa eighteen only) with^pendentelite and future rnterest @ f2.65o/o per annum interest with simple on the amount due from the date of filing of the Original Application i.e. 03/0912024 till full and final realization of the claim amount.

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(2) Amount, af any, paid by the defendants in the loan accounts or amount, if any, recovered by the Applicant Bank after filing of the O,A. the same be taken into account while arriving at the exact amount of dues/debt payable by the defendants. Accordingly,^pendentelite and future interest shall be calculated on the reduced amount.

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(3) Defendants are debarred from disposing, alienating or dealinq with any of the propertres belonging to them till the aforesaid decretal debt is recovered from the defendants.

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(4) Defendants are given a time of thirty days from the date of the Judgement/Final Order for repaying of the above mentioned dues, so intimated to them. ln case the defendants fail to pay the dues within the above mentioned time, the applicant bank is entitled to recover rts dues by sale of secured assets, if any. Applicant bank is also entitled to proceed against personal properties of the defendants (Both movable and immovable) and also proceed agarnst the defendants personally to recover the dues in accordance with law.

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(5) Let the Certificate of Recovery be drawn up by Ld. Registrar forthwrth in terms of .ludgement for issuance of the same agaanst defendants in favour of the applicant bank under Section 19 (22) of the Recovery of Debts and Bankruptcy Act, 1993 and put up the same for issuance of the Certificate.

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(6) Ld. Recovery Officer shall realize the amount as per the Recovery Certificate from the defendants rn accordance with law.

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(7)Ld.RegistrarofthisTribunalisdirectedtodeliverrecoverycertificateintermofthefinal order/judgement for^{recovery of the sum against the defendantin favourof the Applicant} Bank under Section 19⁽²²⁾ of^{the Recovery of Debtsdue to the Eank andFinancral} Institutions Act, 1993^{now knownas Recoveryof Debtsand BankruptcyAct, 1993'}

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(8)The parties are directed to appear before the Recovery^{Officeton 09107/2025 for further} actron in accordance with^{law in the eventthe entire amountis not paid by the saiddate}

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Accordingly, the Original Application^{beingO.A No 555 of 2024is allowedandstands} disposed of,

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Copy of the Judgement/Final Order be uploaded^{in the Tribunal's website.} File is consigned to the Record Room.

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(Dictated to steno, transcribed by her, corrected, signed and pronounced by me in the open court on lhe 9rh day of lune, 2025)

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( KAI4AL DE ) PRESIDING OFFICER.

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

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Case No. OA No. 555 of 2024
Adhikary & Anr,
Order No.06
Order pronounced (vide separate sheets).
pt.o9/06/2025
In the result, O.A. No. 555 of 2024 is a owed with costs. Issue
Recovery Certificate accordingly.
( Kamal De )
Presiding Officer
DRT-3, Kolkata
s5

Karur Vysya Bank v. Ajit Adhikary and Anr.

Case brief

What is this about?

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Karur Vysya Bank v. Ajit Adhikary and Anr.

Case brief

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