The Tribunal allowed the bank's application for recovery of dues totaling over Rs. 58 lakhs along with interest and future interest pending recovery of the debt.
Directing respondents to pay Rs. 58,27,346.19 with future interest @12% p.a. quarterly rests and granting time of 60 days for repayment.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
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Page No
KOLKATA DEBTS REGOVERY TRIBUNAL NO. 2 ORDER SHEET
O.A./i93otZOZ4(Gontinuation) Canara Bank
Vs
| CaseNo | SriNabaKum | Vs arBanerjee &An |
|---|---|---|
| D'ate of Order |
OrderwithSignature | Office action with date and dated Signalureof parties when necessary |
| 07 | Counsel fortheparties: | |
| 16.U.2026 | MrAmit Gupta,Ld.Advocate for theapplicantBank. None for the defendants. |
|
| O.A./193of2024isallowed and disposedof. Final Order/ Judgmentisin separate sheet of 6 pages File be consignedtorecordroom. |
||
| Orderbe uploadedonthe Tribunal,s website. |
||
| -G'.. (ArbindMadhav) Presidingfficer DRT-2, Kotkata |
Sri Naba Kumar Banerjee & Anr.
1
O.A./193 of 2024 - DRT-2/Kot
DEBTS RECOVERY TRIBUNAL .2, KOLKATA Jeevan Sudha Bldg. OTth Floor,4ZC, J.L. Nehru Road, Kolkata _ZOOO71 Before Shri Arbind Madhav. Presidinq Officer
O.A. No. 193 oJ 2024
ln the matter of
canara Bank' a body corporate constituted under the provisions of the Banking companies (Acquisition & Transfer of Undertakings) Act, 1970, having its head office at 112' J'C' Road, Bangarore - 560002, and carrying on business, inter-atia,at its Durgapur Branch, Balai commerciar comprex, Benachity, Durgapur, Dist.- paschim Bardhaman, Pin -713213, West Bengal.
Applicant Bank
-Versus-
1 Sri Naba Kumar Banerjee, Son of Late Biswanath Banerjee, carrying on business under the name and styre of M/s Nationar sports & co., as sore proprietor, at J.K. Paul Lane, Benachity, Durgapur, Dist._ paschim Bardhaman, pin _ 713213, West Bengal. Also atg5, Rahim path, Durgapur, Dist._ paschim Bardhaman, pin _ 713204, West Bengal.
2 sri Bashisth riwari, Son of shiu shankar Tiwari, at 13117, Ranapratap Road, A- Zone, Durgapur, Dist.- paschim Bardhaman, pin _l1g2O4,West Bengal.
Defendants
Counsel for parties:
For the Applicant Bank : Mr. Amit Gupta For the Defendants '. Ex-Parte.
FINAL ORDER / JUDGMENT Delivered on 16.04.2026
Applicant, canara Bank, instituted the present Application being the original Application No.193 of 2024 on 28.0s.2024 against two Defendants under Section 19(1) of the Recovery of Debts & Bankruptcy Act, 1993 (amended from time to time) for recovery of sum of Rs.58,27,346.19 (Rupees fifty eight lakhs twenty seven thousand three hundred forty six and paise nineteen) including interest as calculated upto 04.04.2024 and further interest @ 1 5% per annum with monthly rests from os.o4.zo24, till rcalization of the entire due in full.
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O.A./193 of 2024 _ ORT-2/Ko|
(i) At the request of the first defendant, appricant Bank by its retter dated 28.06.2006 sanctioned a credit facirity in an over Draft Account under canara cash credit scheme with a limit of Rs 1 50 Lakhs (Rupees one lakh fifty thousand) vide sanction letter dated 28.06.2006. At further request of the Defendant, appricant bank extended the said roan with a limit from Rs.1.50 lakhs to Rs.3.00 rakhs (Rupees three rakh) to the defendant No.1 vide sanction letter dated 14.12.2007. copies of sanction letter dated 2g.06.2006 and 14.12.2007 are annexed and marked with,A,,
(ii) ln acknowredgement of granting the said credit facirities and for the purpose of securing repayment of the debit balance lying outstanding from time to time in loan Accounts' the defendant No.1 dury executed the foflowing roan / security documents in favour of applicant BBank:
copies of said documents are annexed and marked with Letter ,A1" to,,A10,, respectively.
(iii) Again at the request of the first Defendant, one syndicate Bank (now merged with canara Bank) has sanctioned a credit facility of Rs.18.00 lakhs (Rupees fifteen takh) vide sanction letter dated 13.12.2017, the Defendant No. 2 stood as guarantor in the said loan facility. The terms and condition of the said sanction was duly accepted by both trhe defendants. Copy of sanction letter dated 13.12.2017 is annexed and marked with letter "8',.
(iv) ln acknowledgement of granting the said credit facility of Rs.15.00 lakh and for the purpose of securing repayment of the debit balance lying outstanding from time to time in loan Accounts, the defendant No.1 duly executed the following loan / security documents in favour of applicant BBank:
Copies of said documents are annexed and marked with letters "B-1,,,B-2,,,B-3,
,&'B-4"respectively.
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O-A./193 of 2024 - DRT-2/Ko|
(v) In consideration of the applicant Bank agreed to grant said credit facility to the defendant No.1, the defendant No.2 guaranteed repayment of the said loan with interest cost, charges etc. taken from one syndicate Bank (now merged with canara Bank) by executing Guarantee Agreement dated 13.12.2017 tor the outstanding amount of Rs.1 5,23,084.1 9, and decrared that the said guarantee is a continuing guarantee and would remain in force till the entire claim of the applicant be paid. copy of said Guarantee Agreement dated 19.12.2012 is annexed and marked with letter,,c,,.
(vi)The defendant No.1 had acknowledged and admitted their debt / liabilities by executing Acknowredgement of Debt dated 01.12.2021 for Rs.1s.00 rakhs and dated 01.12.2023 for Rs.3.00 lakhs. copy of said documents are annexed and marked with Letter 'F' & 'F-1'. 3. The defendants availed and enjoyed the said credit facility by opening Accounts in Bank's Durgapur Branch, Benachity, Durgapur, pin - 713213. However, the defendants did not comply with the agreed terms and conditions of said facility, thus violated the terms and conditions of the sanction of the said loan. The defendants did not repay the outstanding Bank's dues and overdue interest of roan accounts. Despite severar requests made by applicant Bank, the defendants did not pay any attention to regularize the Accounts, consequenfly, the accounts became irregular and was classified as NpA on 31.12.22008 and 02.09.2020 respectively. since the defendants / borrowe(s) failed to liquidate the dues with the applicant Bank inspite of repeated requests and reminders, the applicant Bank compelled to issue / serve Demand Notice daled 29.04.2024 upon the defendants through its Ld. Advocate demanding to repay the outstanding loan amount, but the defendants did not comply the said Notice, copy of said demand notice dated 29.04.2024 is annexed and marked with Letter.D,. certified copies of statement of Account along with certificate under Bankers' Books of Evidence Act, with interest calculation sheet, (Annexure 'E' & 'E-1'), have been filed to show and prove the dues, and further interest @ 15Yo per annum with monthly rest from 05.04.2024, till realization of the entire due in full, has been prayed. Applicant Bank submitted that their claim in the original Application is within limitation.
4- The Notices / summons were sent to Defendants No.1 & 2 by the Tribunal. lt is observed from the S/R on affidavit dated 07.05.2025 and its enclosures that service of Notices / summons upon the Defendants is successful, such has been recorded vide Ld. Registrar's order dated 07.05.2025. Despite service, the defendants did not appear nor filed the written statement; thus, both the defendants were ordered to be proceeded exparte vide order dated 13.02.2026. Applicant Bank has filed the written notes of arguments on 01.09.2025 wherein stated the brief facts of the case as has been narrated in the original application. Ld. Advocate of the applicant Bank has submitted argument on dated 12.03.2026.
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O.A.t,tg3 of 2024 _ DRT-2tKot
I have heard the Ld. Advocate ofthe appricant Bank and perused the records. 6. Evidence-on-affidavit, filed by applicant Bank, has remained unchailenged, unrebutted and its veracity cannot be put to dispute. Applicant Bank has proved the averments made in the original Application. Applicant Bank has proved the sanction of Overdraft facility under Canara cash credit scheme of Rs.1.50 lakh vide sanction letter dated 28.06.2006 and the same have been extended / enhanced to Rs.3.00 lakh vide sanction letter dated '14.12.2002. Again, one syndicate Bank (now merged with canara Bak) was pleased to sanction a credit facility of Rs.15.00 lakh vide sanction letter dated 13.12.2017 to the defendant No.1. Applicant Bank has proved the hypothecated movable assets, morefully described in schedule at page 124 and para lll.A at page 6 & 7 of the original application.
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O.A./193 of 2024 _ DRT_ZKo|
of interest @ 10.20% per annum with monthry rest, have been mentioned. Therefore, in my view, the pendente ffe & future rate of interest @ 120/o per annum, with quarterry rests, from 05-04.2024, tirr rearization of the entire due in fuil, is ailowed. 9' The matter arso fafls within the tenitoriar as weil as pecuniary iurisdiction of this Tribunal. The Appricant Bank has proved to claim made in the o.A. The original apprication being O.A./193 of 2024 deserves to be allowed; hence ailowed. 10. ln view of the above, I pass the following order:
ORDER
(i) o.A. No.193 ot 2024, fired by appricant Bank, is ailowed and debt is determined with cost against the Defendants No.i & 2. lt is hereby ordered that the Defendants No'1 & 2 are hereby directed to pay, joinfly and / or severaily, the totar debt amount of Rs.58,27,346.19 (Rupees fifty eight lakhs twenty seven thousand three hundred forty six and paise nineteen) due and payabre, incrusive of interest and other charges as calculated upto 04.04.2024; and interest for the period pendente tite and fulure @ 12o/o per annum, with quarterly rests, from 0s.04.2024, till realization of the entire sum due and recoverable.
(ii) Amount, if any, paid by the Defendants in the loan accounts or amount, if any, recovered by the applicant Bank after filing of the original application, the same may be taken into account while arriving at the exact amount of dues/debt payable by the Defendants. Accordingly, lhe pendente lite and future interest shall be calculated on the reduced amount.
(iii) The defendants are debarred from transferring, alienating, encumbering or disposing of the hypothecated movable assets, described in schedule at page 124 and para lll.A at page 6 & 7 of the original application, as under -
Hvoothecated Movable Assets:
"Allthat the stocks and Book Debts lying and situate at M/s National sports & co. at J.K. Paul Lane, Benachity, Durgapur, Dist.- paschim Bardhaman, Viest Bengat -713213."
The Defendants are also debarred from transferring, alienating, encumbering or disposing any other property(s) and assets belonging to them till the aforesaid adjudicated debt amount are recovered from the Defendants No.1 & 2.
(iv) Defendants No.1 & 2 are given a time of sixty days from the date of this Final Order / Judgment for repayment 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 its dues by sale of secured property(s), as aforesaid. Applicant Bank is also entitled to proceed against personal properties of the Defendants No.1 & 2 both moveable and immoveable and also proceed against the Defendants No.'l & 2 personally to recover the dues, in accordance with law.
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O.A.1193 of 2024 - ORT-2tKot
(v) Let the certificate of Recovery be drawn up by Ld. Registrar forthwith in terms of Final order / Judgment for issuance of the same against the Defendants No.1 & 2 in favour ofapplicant Bank under section 1g(22) of the Recovery of Debts and Bankruptcy Act, 1993 and put up the same for signature for issuance.
(vi) Ld. Recgvery Officer shall realize the amount as per the Recovery Certificate from Defendants No.1 & 2, in accordance with law.
(vii) Ld. Registrar of this Tribunal is directed to place Recovery certificate in terms of this Final Order / Judgment under section 19(22) of the Act of 1 993.
Accordingly, the originar Apprication, being o.A. No.193 ot 2024 is ailowed and stands disposed of.
File be consigned to Record room.
This order is dictated and corrected by the undersigned and pronounced on this the 16th day of April, 2026.
copy of the Finar order / Judgment be uproaded on the Tribuna|s website.
A'/>,! [6] t". (Arbind Mad 1164?.)4, Presiding Officer DRT-2, Kolkata
kkb
1 issue framed by the court
Whether the application for recovery of the outstanding loan amount is within the period of limitation.
2 provisions across 2 enactments
Canara Bank
Sri Naba Kumar Banerjee
Sri Bashisth Tiwari
Arbind Madhav
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
