Allowed

Central Bank of India v. Akash Jaiswal

DRT20 Feb 2026OA/37/2024

Case brief

AI extract

What is this about?

The DRT allowed an ex-parte application by Central Bank of India for recovery of Rs. 20,76,227.23 with interest. The Tribunal declared the debt, directed issuance of a recovery certificate, and granted a 30-day repayment period before enforcement of assets.

What did the court decide?

Debt determined at Rs. 20,76,227.23 with 9% interest; recovery certificate issued; 30-day grace period granted before enforcement of movable/immovable assets.

Central Bank of India versus Akash Jaiswal — Banking and Recovery | DRT (2026)

¶1

BEFORE T}tE OEBTS RECOVERY TRIBUNAL-III KOLKATA

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PRESE TI. SRt ARBIND ADHAV

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PRESIDING OFFICER OF DRT-II KOLKATA

¶4

ADDTTIONAL CHARGE OF DRT-III KOLKATA

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o.A. NO. 37^()F 2024

¶6

DATE oF DELTVERY oF ORDER : 20 lOzt2OZ6

¶7

Central Bank of fndia is a body corporate constituted under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1910, havtng rts l:9^::"^::d :jl,:"^{at Chander Mukh,, Narimanpoint,r..tumbit+oobzr ana carryrns on} ousrness, rnter alia, at New Market Branch, 1O Nellie Sengupta Sarani, Kolkata700087, West Bengal, within the jurisdiction of this Ld. Trrbunjt.-

¶8

... Applicant Bank.

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-Versus-

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Akash Jaiswat (pAN No. AWGPJ4-643-L), proprietor of M/s. Janaki Metat Works, residing at Lake Town comotex Ftat n6. lU,'r"-iiooi, Bt;;k ;, ;A :'e..o." nouo, Near china Tempte Banque ivenue, Lake rown, K.t-k;l;-;fi;;; Jia.6h." roar"r. is 36/1 Betgachia Road, Near Lrtuah potrce stution; i;;r;;, ;in-- z"i,izi", *,tr,,n rn" aforesaid Jurisdiction.

¶11

Defendant.

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Counset for the Applicant Bank: -

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Paromita Banerjee, Advocate,

Set ex-parte on

12/02/2026

JUDGEMENT

The Appllcant Bank filed the present O.A. being No. 0,A./37/2024 on 05/01/2024 for recovery of a total sum of Rs. 20,76,227.23 /- (Rupees twenty tattr seventy six thousand two hundred twenty seven and paisa twenty three only) from the Defendants towards cash Credit together with interest, cost and other usual reliefs.

¶20

The Defendants are served with sumr

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rep.esentation rrom the derendants,,llll"ll""l"J;ll1l:"1'-iHT#il:::i";;:,;:: and heard ex-parte accordtngly.

¶22

¶23

The Applicant Bank examined 10 d(

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Manaeer marked as .,n,on o,""",,.-'o"ll":nff"',t"i,[:^i:seti^{Binodini Ekka,} Branch

¶25

i. Annexure A_ Loan Application dated 01.03,2022 il. Annexure A_1_ Sancuon Letter dated 31,03,2022 iii. Annexure A-2- Demand promissory Note dated 31.03.2022

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iv. Annexure A-3- Letter of^{waiverdated31.03.2022}

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v. Annexure A-4- Letter^{of Continuity dated31.03 2022}

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vi. Annexure A-5-^{Letterof InterestVariation 31 03'2022}

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vii. Annexure A-6-^{Aqreementof Hypothecation dated 31 03 2022}

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viii. Annexure A-7- Supplementary^{Agreementdated 31032022}

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ix. Annexure A-8-^{Advocate'sNoticesdated o1 11 2022}

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x. Annexure A_9- Statement^{of Account}

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

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The point that arises^{for considerationis :}

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Whether the Appllcant^{Bankls entitledto the claim madeIn the OA against the Defendants} and OA schedule^{propertiesas prayedfor?}

¶36

As stated supra, the^{Defendants remained absent and did not tum up to controvertthe} version of the O.A. of^{Applicant Bank. The EvidenceAffidavitcoupled withthe recitals in the} documents viz,^{ExhibitAnnexure-Ato Exhibit Annexure-A-9markedon behalf of the} Applicant Bank, established^{the claimof the ApplicantBankagainst the Defendants andOA} schedule^{propertles. Hence, I hold that the Defendants are jointlyand severally liable to pay} to the Appllcant^{Bankthe claims made in the OA with futureinterest andcosts}

¶37

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

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ORDER

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(1) O.A. No. 37 of 2024 filed^{by the Applicant Bank is allowed anddebtls determined withcost} against the defendants.^{It is hereby orderedthat applicant bank is entitledto recover from} the defendants^{the totalamountto the tune of Rs 20,76}2723 /- (Rupeestwentylakh} seventy six thousand^{two hundredtwenty sevenand Paisatwenty three only)with} pendentelite and future interest @^{9ryoper annum interest withsimple on the amount due} from the date of^{filing of the Original Applicationi e OS/01/2024till full andfinalrealization} of the claim amount,

¶40

(2) Amount, if any,^paid by^{the defendantsin the loan accounts or amount' if any' recovered by} the Applicant Bank^{after fillng of the O.A the same be taken intoaccountwhile arrivinq at} theexactamountofdues/debtpayablebythedefendants.Accordingly.pendenteliteand future interest shall^{be calculated on the reducedamount'}

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(3) Defendants are debarred from disposlng, alienatrng^{or dealingwith any of theproperties} aforesaid decretal^{debt is recovered from the defendants}

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belonging to them^{till the}

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(4) Defendants are given a time^{of thirtydaysfrom the date of the Judgement/Final Order for} repaying of the above^{mentioned dues, so intimated to themln casethe defendantsfail to} pay the dues within the above^{mentionedtime,the applicant bankis entitledto recover its} dues by sale of secured^{assets,if any. Applicant 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'}

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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 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 in accordance with law.

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(7) Ld. Registrar of this Trlbunal is directed to deliver recovery certificate in term of the final order/judgement for recovery of the sum against the defendant in favour of the Applicant Bank under Section 19 (22) of the Recovery of Debts due to the Bank and Financial Institutions Act, 1993 now known as Recovery of Debts and Bankruptcy Act, 1993.

¶47

(8) The parties are directed to appear before the Recovery Olficet on 20/03/2026 for further action ln accordance with law in the event the entire amount is not pald by the said date,

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Accordingly, the Orlglnal Application belng O.A. No. 37 of 2024 is allowed and stands disposed of,

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Copy of the Judgement/Final Order be uploaded in the Trlbunal's webslte, File is consigned to the Record Room.

¶50

(Dictated to steno, transcribed by her, corrected, signed and pronounced by me rn the open Court on the 20rh day of February, 2026)

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| ! tr-,.,.

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j sR;RBrN-DmDFAv-r

¶53

PRESIDING OFFICER OF DRT-II KOLKATA ADDITIONAL CHARGE OF DRT-III KOLKATA

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

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Case No. OA No, 37 ol 2.)24 central Bank of India
Akash Jaiswal
Date of Order Order with signature
Order No.10 Order pronounced (vlde separate sheets).
pt.20 t 02/ 2026
In the result, O.A. No. 37 of 2024 is allowed with costs. Issue
Recovery Certlficate accordlngly.
( Arbind Madhav )
Presiding Officer
DRT-2, Kolkata
Additlonal Charge of DRT-3, Kolkata
55

Central Bank of India v. Akash Jaiswal

Case brief

What is this about?

What did the court decide?

Central Bank of India v. Akash Jaiswal

Case brief

What is this about?

What did the court decide?

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