Allowed

Canara Bank v. Ms Priyanti Knitco Private Limited and Ors.

DRT22 May 2025OA/601/2024

Case brief

AI extract

What is this about?

The Tribunal allowed an ex-parte original application filed by Canara Bank for recovery of a loan defaulting debt. The Court determined the debt liability and granted a recovery certificate upon the Defendants' failure to appear.

What did the court decide?

Recovery certificate issued for Rs. 60,97,473.67 with future interest at 7.50% p.a.; Defendants debarred from alienating properties.

Canara Bank versus Ms Priyanti Knitco Private Limited and Ors. — Banking and Recovery | DRT (2025)

¶1

BEFORE THE DEBTS RECOVERY^{TRIBUNAL-III KOLKATA}

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PRESENTi -SRI KAMAL OE.

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PRESIDING OFFICER.

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O.A. No. 601 OF 2024.

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DATE OF DELIVERY OF oRDER |^22lOSl2025

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Canara Bank is a body Corporate constituted^{underthe BankingCompanres} (Acquisition and Transfer of Undertakings) Act, 1980, having its Head Office^{at 112,} .1. C. Road, Bangalore-560002, and^{having among others,a branch officeat} 14anicktolla Branch, 58, RaJa Dinendra Street,^{BSNL Euilding,P.S -14anicktolla,} Kolkata-7OOOO6, Code- C819508, within the^jurisdiction of^{this Ld. Tribunal}

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Applrcant 8ank.

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M/s. Priyanti Knitco Pvt. Ltd., a company incorporated under the provision of Companies Act, 1956 having its registered office at- 16112, Dakshindari Road, Kolkata-700048.

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Mrs. llangala Saha, 181/25, Canal Street, Kolkata-700048.

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l'1r. Nilkantha Saha, 161/2, Dakshindari Road, Kolkata-700048.

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Mr. Anindya Saha, 181/25, Canal Street, Kolkata-700048.

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Defendants.

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Counsel for the Applicant Bank:

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Amjt Gupta, Advocate, Set ex-parte on 07 /05/202s

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J U DG E T.,1E NT

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The Applicant Bank fited the present O.A. being No. O.A.1601/2024 on A3/lOl2O24 fol recovery of a total sum of Rs.60,97,473.67l (Rupees sixty takh ninety seven thousand four hundred seventy three and paisa sixty seven only) from the Defendants towards OCC and GECL together with interest, cost and other usual reliefs.

¶19

The Defendants are served with summons. The defendants appeared but failed to file any w,s, There was no representation from the defendants subsequenUy and the case was lixed for ex-parte hearing on 07/0512025, and heard ex-parte accordingly.

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The Appricant Bank examined 22 documents through sri sukanta De, Senror Manaqer marked as Exhibit Annexure-A to Exhibit Annexure-A-24.

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Heard the Ld. Counsel for the^{ApplicantBank.}

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The pornt that arises for consideratlon^{is :}

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whether the Applicant Bank^{is entitledto the claim made in the OA against theDefendants} and OA schedule^{properties as prayedfor?}

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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 EvidenceAffidavitcoupled wrth the recitalsrn the} documents viz., Exhibits^{Annexure-Ato Exhibit Annexure-A-24marked on behalfof the} Applicant^gank, established the claim^{of the Applicant Bank againsttheDefendants andOA} schedule^{properties, Hence, I hold that the Defendantsare jointly and severally liable to pay} to the Applicant Bank the claims^{made in the OA \4lth future interest and costs'}

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In the result, the^{present Original Applicationis allowed ex-parte withcosts,as under:-}

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ORDER

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(1) O.A. No. 601 of 2024 filed by the Applicant Bank^{is allowed and debt is determined with cost} against the defendants.^{It is hereby orderedthat applicantbankis entitledto recover from} the defendants the total^{amount to the tuneof Rs. 60,97,473.67l-(Rupeessixty lakh ninety} seven thousand four hundred seventy three^{and paisasixty seven only)wlth pendentelite} and future interest @ 7.50o/o^per annum^{interest withsimple on the amountdue from the} date of filing of the Original Application^{i.e. 03/10/2024till full and finalrealizataonof the} claim amount.

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(2) Amount, if any, paid by the defendants in the loan accotlnts or amount, if any,^recoveredby the Applicant Bank after filing of the O.A. the same be taken^{intoaccountwhile arriving at} the exact amount of dues/debt^payable by the defendants. Accordingly,^{pendentellte and} future interest shall be calculated on the reduced amount.

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(3) Defendants are debarred from disposing, alienating or dealing 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 tharty days from the date of the Judgement/Final Order for repaying of the above mentioned dues, so intimated to them. In case the defendants fail to pay the dues within the above mentioned time, the applicant bank is entitled to recover its 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 against 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 forthwith in terms of ludgement for issuance of the same against defendants in favour of the applicant bank under Section 19 (22) of the Recovery of Debts and Bankruptcy Act, 1993 and^put op the same for issuance of the Certificate.

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

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(7) Ld. Registrar of this Tribunar is directed to deliver recovery certificate rn term or the final order/ludgement for recovery of the sum against the defendant in favour of the Apphcant Eank under Section 19 (22) of the Recovery of Debts due to the Bank and Frnancral Institutions Act, 1993 now known as Recovery of Debts and Bankruptcy Act, 1993.

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(B)The partres are directed to appear before the Recovery Officer on 25/06/2025 for further actron in accordance with lav! an the event the entire amount ts not pald by the said date,

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the original Application beins o A No 601 or 2024 is allowed and stands :"r*:tj:

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Copy of the ludgement/Final Order u''ououo in the Tribunal's website Frre rs consigned to the Record *ooj:

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,i""f g,T';".il$,,"":,dsjenedand |;"il[i{S!:iT?:tiffi

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t xaue6E r- PRESIDING OFFICER

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

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Case No. OA No, 501 of 2024 Canara Bank
Pvt. Ltd.
L
Date of order Order with signature
Order No.07 Order pronounced (vide separate sheets)
pt.22/0512025
ln the result, O,A No. 601 of 2024 ls allowed w'th costs lssue
Recovery Certificate accordingly.
Presiding Officer
DRI-3, Kolkata
s5

Canara Bank v. Ms Priyanti Knitco Private Limited and Ors.

Case brief

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Canara Bank v. Ms Priyanti Knitco Private Limited and Ors.

Case brief

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