Allowed

Canara Bank v. Sri Debashis Maity

DRT10 Apr 2026OA/224/2022

Case brief

AI extract

What is this about?

In a recovery application filed by Canara Bank against four defendants, the Tribunal allowed the claim for debt recovery after finding the application within the limitation period due to subsequent acknowledgements. The Tribunal determined the net debt amount, allowed future interest, and passed an injunction against the respondents' moveable and immovable assets until realization.

What did the court decide?

Defendants directed to pay total debt of Rs. 1,80,13,190.20 with interest; secured assets mortgaged and hypothecated are liable for satisfaction of dues; injunction passed against transfer of other as

Canara Bank versus Sri Debashis Maity — Banking and Recovery | DRT (2026)

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Page No.

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KOLKATA DEBTS REGOVERY TRIBUNAL NO. 2 ORDER SHEET

Case No

O.A.|2Aot2O22

(Contin uation)

Ganara Bank

Sri Debashis Maity & Ors.

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Office action with
Date'of date and dated
Order with Signature Signature of
Order parties when
necessary
Counsel for the parties:
14
10.o4.2026 Ms. Mousumi Ganguly, Ld. Advocate representing Mr
Onkar Ganguly, Ld. Advocate for the applicant Bank.
None for the defendants.
O.A.1224 ot 2022 is allowed and disposed of.
Final Order / Judgment is in separate sheet of 6 pages.
File be consigned to record room.
Order be uploaded on the Tribunal's website.
6 t
(Arbind Madhav)
Presiding Officer
DRT-2, Kolkata

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O.A,1224 ol 2022 - ORJ-2/.(lot

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DEBTS RECOVERY TRIBUNAL - 2, KOLKATA Jeevan Sudha Bldg. 07th Floor,42lC, J.L. Nehru Road, Kolkata _7OOO71 Befo Shri Arbi nd Madhav. Presidinq Officer

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O.A. No.224 of 2022

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ln the matter of-

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canara Bank, a body corporate constituted under the Banking companies (Acquisition and transfer of Undertakings) Act, 1970 having its head office al 112, J.c. Road, Bangalore-560002 and carrying on business, inter-alia, one of its branches at Haldia Branch, "Tripathi comprex", sukanta Nagar, city centre, post Debhog, p.s.- Hardia, District - Purba Medinipur, West Bengal.

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Applicant Bank

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-Versus-

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1' sri Debashis Maity, son of Sri Keshab chandra Maity of rerapara Jalpai, p.o.Narghat, P.s.- Nandakumar, Dist. - purba Medinipur, pin - 721669, west Bengar.

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2- sri Prasenjit Maity, son of sri Keshab chandra Maity of rerapara Jalpai, p.o._ Narghat, P.s.- Nandakumar, Dist. - purba Medinipur, pin - 721669, west Bengar.

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sri Keshab chandra Maity, son of Late Jatindra Maity of Village - Terapara Jatpai, P.o.- Kalyanpur, P.S.- Mahisadar, District - purba Medinipur, pin - 721632, west Bengal.

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sri Mangal chandra Manna, son of sri sukumar Manna of Viilage & post - Dhitaibasan, Dakshinpara 8 no, Kumarara, p.S.- Nandakumar. District - purba Medinipur, Pin - 721632, West Bengal.

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Defendants

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Counsel for parties:

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For the Applicant Bank : Sri Onkar Ganguly

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For the Defendants : Ex-Pafte.

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FINAL ORDER / JUDGM ENT Delivered on 10.04.2026

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Applicant, Punjab National Bank tendered the present Application being the original Application No.224 ot 2022 on 30.09.2022 against four Defendants under section 19(1) of the Recovery of Debts & Bankruptcy Act, 1993 (amended from time to time) for recovery of Rs.l,80,13,190.20 (Rupees one crore eighty lakh thirteen thousand one hundred ninety and paise twenty) including interest as calculated uplo 31.09.2022 with further interest thereon @ 12.70% per annum compounded monthly from 01.09.2022, till realization, together with interim interest and interest on judgment and interest^{pendenfl /ife againstthe defendants No.1 to 4.}

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O.A.r224 ol 2022 - DRf -2tKot

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2 The brief facts of the case as set out by appricant Bank in its originar Apprication, as under:

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(i) Defendants Nos.1, 2 & 3 are the co-borrowers and carrying the business of rnrand Fisheries (Prawn curtivation); the defendant No.4 is the guarantor. Defendants No.1, 2 & 3 approached the applicant Bank for grant of credit facility for carrying their business vide application dated 28.03.201s. Upon consideration of apprication, appricant Bank was pleased sanction / grant a roan of Rs.6o,oo,o0o.o0 (Rupees sixty rakh) to the4 defendants No.1, 2 & 3 vide sanction Memorandum dated 2g.03.2015 under the KCC Fishery credit facirity. The defendants No.1 , 2 & 3 duly acknowledged the said sanction memorandum. Copy of loan application for Agricultural Loan dated 2g.03.2015 and sanction Memorandum dated 2g.03.20015 are annexed and marked with Annexure,A,& 'A-1'.

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(ii) ln consideration of aforesaid sanction of Rs.60.00 rakh, defendants No.1 , 2 & 3 executed and derivered the Agreement and Deed of Hypothecation for Kishan credit Card dated 28.03.2015 for Rs.60,00,000/-; copy of which is annexed and marked with Annexure 'A-2'.

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(iii) ln consideration of said roan sanctioned to the defendants No.1 , 2 & 3, the Defendant No.4 guaranteed the repayment of said roan facirity by executing Guarantee Agreement dated 28.03.2015 for Rs.60.00 lakh. The said guarantee is still in force and continuing guarantee. copy of Guarantee Agreement dated 2g.03.2015 arong with Guarantee Covering Letter are annexed and marked as Annexure ,A_3,,.

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(iv) At the request of defendants No.1 to 3, appricant Bank was preased enhance / sanction the existing KCC loan from Rs.60.00 lakh to Rs.100.00 rakh (Rupees one crore) to the defendants No.1, 2 & 3. copy of sanction Memorandum dated 30.03.2016 dury acknowledged by Defendants No.1 , 2 & 3 is annexed and marked with Annexure ,R4,,.

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(v) ln connection with obtaining the aforesaid enhanced credit facility, the defendants No l, 2 & 3 executed and derivered the following loan / security documents a[ dated 30.03.2016 in favour of applicant Bank:

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(a) Link Letter in respect of Enhancement of Credit Facility;

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(b) Supplemental Agreement for Rs.1.00 crore;

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copies of said documents are annexed and marked with Annexures ,,A-5,', ,4-6, & "A-7".

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(vi) ln consideration of said enhanced loan sanctioned to the defendants No.1, 2 & 3, the Defendant No.4 guaranteed the repayment of said loan facility by executing Guarantee Agreement dated 30.03.2016 for Rs.100.00 lakh. The said guarantee is still in force and continuing guarantee. copy of Guarantee Agreement dated 30.03.2016 along with Guarantee Covering Letter are annexed and marked as Annexure^,,A_g".

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O.4.r224 ot 2022 _ DRf _2t<ot

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(vii) To secure the aforesaid enhanced roan facirity, the defendants No.1, 2 & 3 praced some articres being fish crop as and by way of primary security together with book debts for obtaining financial assistance. For further security of the aforesaid credit facility granted to the defendants, the defendants No.1,2 & 3 created mortgage in respect of immovable properties, morefuily described in schedure il at page 1g and para 3A at page 7 & 8 0f the originar apprication, by depositing originar rifle Deeds (a) berng No.1912 for the year 2005, (b) being No.4098 for the year 1999 and (c) being No.5648 for the year 2013 in favour of appricant Bank. copies of Letter Evidencing deposit of rifle Deeds of mortgage dated 28.03.2015 and 30.03.2016 are annexed and marked with Annexure A_ 9' & 'A-10'. copies of rifle Deeds being No.1 912 of 200s, No.4098 of 1999 and No.5648 of 2013 and its transration copy are annexed and marked with Annexures ,A_1 1,, ,A_12,, ' A-13',,', A-14','A_1 5' &,A_1 6'.

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(viii) Defendants No.1, 2 & 3 have executed Acknowredgement of Debt and security on daled 23-11.2017 and o4.11.2020 ror acknowredgement of debts towards the appricant Bank. Xopies of the Acknowredgement of Debt and security dared 23.11.2017 and 04.'11.2020 are annexed and marked with Annexure ,,A_17,,and ,,A_1g,,.

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The defendants avaired and enjoyed the aforesaid credit facirity by opening Account in Bank's Hardia Branch, sukanta Nagar, city centre, post Debhog, Hardia, Dist.- Purba Medinipur. However, the defendants did not compry with the agreed terms and conditions of said facilities, thus violated the terms and conditions of the aforesaid sanction of loan facilities. The defendants did not repay the outstanding Bank,s dues and overdue interest of roan account. Despite severar requests made by appricant Bank, the defendants did not pay any attention to regularize the Account; consequenfly, the account became irregular and were classified as NpA on 29.0g.202L since the defendants / borrower(s) failed to liquidate the dues with the applicant Bank inspite of repeated requests and reminders, applicant Bank compelled to issue Recall Notices dated 12.04.2019 and 08.10.2021 upon the defendants calling upon them to repay the outstanding Bank's dues, but the defendants did not comply with the said notices; copy of said Notice daled 12.Q4.2019 & 08.10.2021 are annexed and marked as Annexure ,A-19, &'A-20'. Thereafter, applicant Bank served demand notices U/s 13(2) ot the sarfaesi Ad,2002 dated 18.10.2021 upon the defendants demanding to pay the outstanding loan amounts; copy of said notice dated 18.10.2021 is annexed and marked with Annexure ,A21 '. certified copies of statement of Account along with certificate under Bankers, Books of Evidence Act, with interest calculation sheet, Annexure 'A-22', have been filed to show and prove the dues, and further interest thereon @ 12.70o/o per annum compounded monthly from 01.09.2022, till realization, with interim interest, interest on judgment and interest pendenti ite against the defendants, have been prayed. Applicant Bank submitted that their claim in the original Application is within limitation.

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4- The Notices / summons were sent / served upon the Defendants No.1 to 4 by the Tribunal. lt is observed from s/R on affidavit dated 20.03.2024 and its enclosures that

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O.A.t224 ot 2022 _ ORr -zKot

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servic€ of Notices / summons upon the Defendants No.3 & 4 were not successfur by postar service, such has been recorded vide Ld. Registrar's order dated 20.03.2024. Ar the request of Ld' Advocate on behalf of applicant Bank, Ld. Tribunal is directed to serve the summons upon the defendants by way of substituted service; and Ld. Advocate of the applicant Bank has brought on record the affidavit of service on pubrication dated 15 07.2024 arong with rerevant portion of paper cuttings in two newspapers, namery (i) 'The rndian Express' in Engrish and (ii) 'Dainik statesman, in Bengari, both dated 07'07.2024, such has been recorded vide Ld. Registrar,s order dated 16.07.2024. Despite service, the defendants did not appear nor fired the written statement; thus, ail the defendants were ordered to be proceeded ex-patte vide order dated 01.05.2025. Ld. Advocate of the applicant Bank has filed the written notes of arguments on dated 18'09'2024 thereby stated the brief facts of the case as has been narrated in the original application. Ld. Advocate of the appricant Bank has submitted argument on 12.03.2026. 5' Applicant Bank has fired evidence-on-Affidavit, affirmed by Durgapati saren, sr. Manager of Bank's Hardia Branch, sukanta Nagar, city centre, post Debhog, Hardia, Dist - Purba Medinipur arong with copy of originar documents executed by the defendants. originar documents have been produced by appricant Bank; the same have been verified with copies of the documents annexed with o.A. and after verification the originals have been returned to sri subhajit sir, officer of Bank's Hardia Branch, sukanta Nagar, city centre, post Debhog, Haldia, Dist.- purba Medinipur on 09.0g.2023, such has been recorded in Ld. Registrar's order dated 09.0g.2023. The documents produced by the applicant Bank are exhibited and marked as Exhibits ,A, & ,A-1, ro ,A-22,

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I have heard the Ld. Advocate ofthe appricant Bank and perused the records. 6' Evidence-on-affidavit, fired by appricant Bank, has remained unchailenged, unrebutted and its veracity cannot be put to dispute. Appricant Bank has proved the averments made in the original Application. Applicant Bank has proved the sanction of KCC Fishery credit facility of Rs.60.00 takh vide sanction letter dated 28.03.201s; subsequently enhanced the facility to Rs.100.00 rakh vide sanction letter dated 30.03.2016. Applicant Bank has proved the hypothecated movable assets and creation of equitable mortgage in respect of immovable properties; described in Schedule I and schedule ll at page 17 & 18 and para 3A at page 7 to g of the original application. 7- on the point of limitation, the loan has been sanctioned on 2g.03.2015, and subsequently enhanced the facility on 30.03.2016; loan documents have been executed and delivered on 28.03.2015 and 30.03.2016; and original Application has been filed on 30.09.2022. Further, the defendants No.1,2 & 3 have acknowledged and admitted their liabilities from time to time by executing Acknowledgement of Debt & security dated 23.11.2017 and 04.11.2020 acknowledging the outstanding balance in loan account(s). As such, the original Application appears to have been filed well within the period of limitation.

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O .A.r224 oI 2022 - ORr -2Kot

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Applicant Bank has stated that the outstanding barance in KCC Loan Account (inclusive of accrued interest and other charges as carcurated upto 31.0g.2022) for a sum of Rs'1,80,13,190.20 (Rupees one crore eighty rakh thirteen thousand one hundred ninety and paise twenty) as on 31.0g.2022, which is the amount craimed by appricant Bank in the original Application, and the defendants No.1 to 4 are, joinfly and/or severally, liable to pay the said amount to the applicant Bank with pendente lite andfuture interest, till realization in fuil. r aflow the craim as made by appricant Bank in the originar Application. Appricant Bank has prayed future interest @ 12.700/o per annum compounded monthly irom01.09.2022; while in sanction Memorandum dated 2g.03.2015 the same rate of interest, i.e. @ 12.r0o/o per annum, has been mentioned. Therefore, the pendente /lfe & future rate of interest @ 12.70o/o per annum, with quarterry rests, from 01.09.2022, till realization in full, is allowed.

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The matter arso fails within the tenitoriar as weil as pecuniary iurisdiction of this Tribunal. The Appricant Bank has proved the craim made in the o.A. The o.A. being O.A.1224 of 2022 deserves to be allowed; hence allowed. 10. ln view of the above, I pass the following order:

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ORD ER

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(i) o.A. No.224 or 2022, fired by the appricant Bank, is alowed and debt is determined with cost against the Defendants No.1 to 4. lt is hereby ordered that the Defendants No"|,2,3 & 4 are hereby directed to pay the totar debt amount of Rs.1,g0,13,190.20 (Rupees one crore eighty rakh thirteen thousand one hundred ninety and paise twenty) due and payable, inclusive of interest and other charges as carcurated upro 31 .og.2022; and interest for the period pendente rite and future @ 12.70o/o p$ annum, with quarterry rests, from 01-09.2022, tirr rearization of the entire sum due and recoverabre.

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(ii) Amount, if any, paid by the Defendants in the loan account 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 No.1 to 4. Accordingly, the pendente lite and future interest shall be calculated on the reduced amount.

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(iii) Defendants No.1 to 4 are debared from transferring, alienating, encumbering or disposing of the hypothecated movable assets and mortgaged immovable properties; described in schedule I and schedule ll at page 17 & 18 and para 3,A at page 7 to g of the original application, as under -

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Hvoothecated Movable Assets

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"All moveable items and assefs and stock of fish crop lying at Maishaty Jalpai, P.O.- Naryhat, P.S.- Nandakumar, Distict - puha Medinipui, West Benjal, iin _ 721669 and wherever the moveable llemg assefs and machineies lyiig for the business purpose of Defendant No.l , 2 and 3 together with the preseit debts, book debts, stock and assefs and alt future debts, stock and assets of the Qefendants^{No.1, 2 and} 3."

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O.A.1224 ot 2022 - DRf -zKot

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Mortqaqed Immovab le ProDerties:

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".Wvear2oosl

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All that piece and parcel or oiii anaieasuffi.66 decimar more or ress rying and situated at Mouza-Terapara Jarpai compriia i Dag Nos.46s,4aq iia'i.ia under R.S. Khatian No.117, J.L. No.127, b.S._ ianaaiumar, Distrcit _ iui" Medinipur.

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Ite.n.Ne.2.ffitle Deed No.409B for the vear 19991 ll^{tn.a! pieceor parcetor naoi aniieaffi} an area of 3% decimar more or less lying and situated at Mouza-.T9ye_garg,tapziiomprised in oag Ni.lai ii", R;5. .Khatian No.l17, J.L. No.12i, rouri Ni.taso, R.s. ito.iato, -i.i _ Nandakumar, Distrci- purba Medinipur. Item. Ne.3. ffitle Deed No.S64B for ihe vear 201 3t

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All that piece or parcel or Jaiandi6iurng; area of 20 decimat more or less lvins and situated at Mouza-T.era.q9ra .tatpaicomiiied /n R.s. o"g ii.izot iid L'R' Dag No.2376 under R.s. Khatian'No.ll/l's anct 18/21 and L.R. Khatian \o-1713,^{J.L.No.,27, Touzi No.1BS0, R.S. No.1410, p.S.} NandiXii"r, OitlI _ Purba Medinipur."

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The Defendants No.1 to 4 are arso debarred from transferring, arienating, encumbering or disposing of any other property(s) and assets beronging to them tifl the aforesaid adjudicated debt amount are recovered from the Defendants No.1 to 4.

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(iv) Defendants No.1 to 4 are given a time of sixty days from the date of this Finar order / Judgment for repayment of the above mentioned dues, so intimated to them. rn case the Defendants fair to pay the dues within the above mentioned time, the appricant Bank is entitled to recover its dues by sare of secured property(s), as aforesaid. Applicant Bank is also entitled to proceed against personal properties of the Defendants No.1 to 4 both moveable and immoveable, in accordance with law.

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(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, 3 & 4 in favour of applicant Bank under section 19(22) oI the Recovery of Debts and Bankruptcy Act, 1993 (amended from time to time) and put up the same for signature for issuance.

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(vi) Ld. Recovery Officer shall realize the amount as per the Recovery Certificate from Defendants No.1 , 2, 3 & 4, in accordance with law.

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(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 1993.

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Accordingly, the original Application, being o.A. No.224 or 2o22 is ailowed and stands disposed of.

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File be consigned to Record room.

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This order is dictated and corrected by the undersigned and pronounced on this, the 1Oth day of April, 2026.

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Copy of the Final Order / Judgment be uploaded on the Tribunal,s Website.

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Copy of the Final Order / Judgment be uploaded in the Tribunal,s Website.

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ind Presiding Officer DRT-2, Kolkata

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kkb

Canara Bank v. Sri Debashis Maity

Case brief

What is this about?

What did the court decide?

Canara Bank v. Sri Debashis Maity

Case brief

What is this about?

What did the court decide?

What the court decided

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