Allowed

Axis Bank v. Rintu Mollick

DRT2 Apr 2026OA/66/2025

Case brief

AI extract

What is this about?

In an application under the RDB Act, the Tribunal allowed the bank's claim for repayment of a commercial vehicle loan of approximately Rs. 25.59 lakhs. The respondents did not appear. The Tribunal allowed the principal amount, pending and future interest, and ordered recovery.

What did the court decide?

Directed respondents to pay Rs. 25,59,781/- plus interest with quarterly rests from 19.06.2024; prohibited transfer of hypothecated asset; ordered issuance of recovery certificate.

Axis Bank versus Rintu Mollick — Contract and Commercial Disputes | DRT (2026)

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Page No

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KOLKATA DEBTS REGOVERY TRIBUNAL NO. 2 ORDER SHEET (Continuation)^'

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Axis Bank Ltd.

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0.A./66 of 2025

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Case No. Vs
Rintu follick & Anr
Office action with
Dqte date and dated
of Order with Signature Signature of
Order parties when
necessary
06 Counsel for the parties:
02.04.2026
Ms. Mekhala Kanji, Ld. Advocate for the applicant Bank
None for the defendants.
O.A.t66 o,t 2025 is allowed and disposed of.
Final Order / Judgment is in separate sheet of S pages.
File be consigned to record room.
Order be uploaded on the Tribunal,s website.
(ffirr.on ul
Presiding Ofiicer
DRT-2, Kotkata

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0.4./66 of 2025 - DRT-Z/Ko|

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IDEBTS RECOVERYTRIBUNAL - 2, KOLKATA Jeevan sudha Brdg. 07th Froor,42rc, J.L. Nehru Road, Kolkata -rooo71 Before ShriArbind Madhav. Presidin offi r

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O.A. No. of 202

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ln the matter of

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Axis Bank Ltd-, incorporated under the companiesAct, 1956 and carrying on banking business under ricense granted by Reserve Bank of rndia under the Baking n"grr"tioi Act' 1949 and having its Registered ofiice at'Trishur,, o3rd Froor, opposite samartheshwar Temple, Law Garden, E[is Bridge, Ahmedabad - 3g0006, Gujarat and amongst another, having one of its Branch atAxis Bank Ltd., Durgapur Branch at Ground Froor, suhatta Mail, . shahid Khudiram sarani, city centre, Durgapur, under Durgapur Municipar corporation, P.s.- Durgapur, Dist.- Burdwan, west Bengar, pin -713216, and its recovery branch at Asset Sales Centre, 1, Shakespeare Sarani, 03d Flool Kolkata _700071.

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Applicant Bank

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-Versus-

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1 Rintu Mollick, son of Anarur Moflick, Jharur Mahata, Barddhaman, pin -713128, West Bengal

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2 Hasiba Bibi, co-borrower, wfe of Rintu MoIick, Jharur Mahata, Barddhaman, pin - 713128, West Bengal.

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Defendants

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Counsel for parties:

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For the Applicant Bank : Ms. Mekhala Kanji

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For the Defendants : Ex-Pafte.

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FINAL ORDER , JUDGMENT Delivered on 02.04.2026

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Applicant, Axis Bank Ltd., instituted the present Application being the original ' Application No. 66 of 2025 on 21.08.2024 against two Defendants under section 19(1) of the Recovery of Debts & Bankruptcy Act, 1993 (amended from time to time) ior recovery of sum of Rs.25,59,781.00 (Rupees twenty five lakhs fifty nine thousand seven hundred . eighg one) with interest upto 18.06.2024 with interest thereon @ 9.42o/o and @ 9.zs% per annum per annum respectively also liable to make payment further interest at the agreed rate from 19.06.2024, till realization.

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The brief facts of the case as set out by the Applicant B?nk in its Original Application, as under:

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0.A-./66 of 2025 _ DRT_Z/KoI

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(i) The defendant No.1 is the bo,ower and defendant No.2 is the co_bo'ower. The defendants for purchase of a commerciar vehicre, i.e. Ashok Leyrand Ltd. being Regn. No. wB-41J-9299 appried before the appricant Bank by an apprication dard 18.12.2020. . Upon consideration of said apprication, appricant Bank was preased to sanction / grant a commerciar Vehicre BRE facirity of Rs.30,38,000.00 (Rupees thirty racs thirty eight thousand) to the defendants which was disbursed on 16.01.2021and maintained in loan . agreement under certain terms and conditions mentioned in the loan-cum_hypothecation agreement which were accepted by the defendants. copy of Loan apprication Form dated 18.12.2020 is annexed and marked as Annexures ,A,.

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(ii) Pursuant to the said sanction of commercial vehicle facility, the defendants had executed and derivered the Loan-cum-Hypothecation Agreement dated 16.01.2021. copy of said document is annexed and marked as Annexure .8,.

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(iii) The defendants again applied before the applicant Bank for additional credit facility / loan by an apprication. At the request of the defendants, applicant Bank was pleased to grant / sanction an additional credit facility of Rs.9,05,000.00 (Rupees nine lakhs five thousand) under ECLGS Scheme to the defendants vide sanction letter dated 2g.02.2022 and maintained in loan agreement under some terms and conditions which were accepted . by the defendants by putting their signature thereon. Copy of loan application and sanction letterdated 28.02.2022 are annexed and marked asAnnexure,C,&,C_1,.

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(iv) Pursuant to the aforesaid sanction of Rs.9,05,000/-, the defendants executed and delivered the Link Document-cum-Amendment Agreement for facilitiel under Emergency credit Line Guarantee scheme dated 28.02.2022. copy of said document is annexed and marked as Annexure 'D'.

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The Defendants No.1 & 2 enjoyed the aforesaid credit facilities by opening. Account(s) in Bank's Durgapur Branch, shahid Khudiram sarani, city centre, Durgapur, Dist.- Burdwan. However, the defendants failed and neglected to abide by the terms and conditions of the facilities. The Defendants did not repay the outstanding Bank,s dues and overdue interests in the loan Accounts. lnspite of repeated requests and personal contact^' made by applicant Bank, the defendants failed to regularize the loan Accounts. since the defendants did not pay any attention to regularize the Accounts, the Accounts became out of order and was classified as N.P.A. on 13.10.2023. Thereafter, applicant Bank served demand notice dated 24.06.2024 upon the defendants through its Lawyer demanding to repay the outstanding Bank's dues, but the defendants did not comply the said notice; copy of demand notice dated 24.06.2024 and postal receipts are annexed and collectively marked as Annexure 'E'. Certified copies of Statement of Accounts along with Certificate^' under Bankers' Books of Evidence Act, with interest calculation sheet, have been filed to show and prove the dues (Annexure'F' &'F-1), and togetherwith interest payable thereon @^{9.42o/o per annumfor A./c No.CVR0213O5743877and} @^{9.25o/o pd annum for A,/c} . No.UVR02130718'1840 with monthly rest from 19.06.2024, till full realization, has been prayed. Applicant Bank submitted that their claim in the application is within limitation.

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0.A.166 of 2025 - DRT_2//Ko|

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The notices / summons was sent to the Defendants No.1 & 2 by the Tiibunal. lt is observed from the S/R on afiidavit dated 19.08.2025 and its enclosures that service of Notice / summons upon both the Defendants has been successfully efiected, such has been recorded vide Ld. Registrar's order dated 13.0g.202s. Despite service, the defendants did not appear nor filed the written statement; thus, both the defendants were ordered to be proceeded ex-pade vide order dated 14.01.2026. ApplEant Bank has filed the written notes on Argument on dated 09.02.2026, thereby 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 09.02.2026

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Applicant Bank has filed the evidence-on-Affidavit, affirmed by Mohammed zubair Muslim, Authorized representative of Bank's 1, shakespeare sarani office,.AC Market, Kolkata - 700071 along with copy of original documents executed by the defendants. original documents have been produced by applicant Bank; the same have been verified . with copies of the documents annexed with the o.A. and the originals have been retumed to sri s. Mondal, Authorized signatory of Bank's 1, shakespeare Sarani office, Kolkata - 700071 on 13.08.2025, such has been recorded in Ld. Registrar's ordeldated 1g.o1.2o2s. The documents produced by applicant Bank are exhibited and marked as Exhibits A, & 'A-1'to'A-8'.

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I have heard the Ld. Advocate ofthe applicant Bank and perused the records.

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Evidence-on-affidavit, filed by applicant Bank, has remained unchallenged, un-^' rebutted and its veracity cannot be put to dispute. Applicant Bank has corroborated the averments made in the o.A. Applicant Bank has proved the sanction of bommercial vehicle BRE facility of Rs.30,38,000/- vide Loan application Form dated 18.12.2020 and . additional credit facility of Rs.9,05,000/- under ECLGS scheme vide sanction letter dated 28.02.2022. Applicant Bank has proved the hypothecated movable assets - Vehicle, described in Schedule 'A at page 24 and pa.a 3A at page 7 & 8 of the original application. 7. On the point of limitation, Loan has been sanctioned on 18.12.2C20 and28.02.2022; documents have been executed on 16.01.2021 and 28.02.2022; original Application has been filed on 21.08.2024. As such, the originalApplication appears to have been filed well within the period of limitation.

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Applicant Bank has stated that the outstanding balance in Loan Accounts (inclusive of accrued interest and other charges as calculated upto 18.06.2024) for an aggregated sum of Rs.25,59,781.00 (Rupees twenty five lakhs fifty nine thousand seven hundred eighty one) as on 18.06.2024, which is the amount claimed by applicant Bank in the original^' Application, and the defendants No.1 & 2 are,^jointly and/or severally, liable to repay the said amount to the applicant Bank with pendente lite and future interest, till realization in full. I allow the claim as made by applicant Bank in the originalApplication. Applicant Bank has prayed further interest^payable thereon @ 9.42Yo per annum tor Nc No.CVR021305743877 and @ 9.25o/o^per annum for A"/c No.UVR021307181840 with monthly rest from 19.06.2024, till full realization, while in sanction letter dated 28.02.2022

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o.A.166 of 2025 - DRT-z/Kor

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the rate of interest @^g.2sYo per annum, has been mentioned. Therefore, lhe pendente . ffe & future rdte of interest @ 9.2so/o per annum, with quarterly rests, from 1g.06.2024, is allowed.

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The matter also falls within the tenitorial as well as pecuniary jurisdiction of this Tribunal. Applicant Bank has proved to claim made in the o.A. The o.A. being 0.4./66 of 2025 deserves to be allowed; hence allowed.

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In view of the above, I pass the following order:

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OR DER

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(i) o.A. No.66 of 2025, filed by applicant Bank, is allowed and debt is determined with cost against the Defendants No.1 & 2. lt is hereby ordered that the Defendants No.1 & 2 are hereby directed to pay, joinfly and / or severally, the total debt amount of . Rs.25'59,781.00 (Rupees twenty five lakhs fifty nine thousand seven hundred eighty one) due and payable, inclusive of interest and other charges as calculated upto 1g.06.2024; and interestforthe period pendente lite andtuture @g.25o/oprannum-with quarterly rests, fiom 19.06.2024, till realization of the entire sum due and recoverable.

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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 & 2. Accordingly, the pendente lite and future interest shall be calculated on the reduced amount.

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(iii) The defendants are debarred from transferring, alienating, encumbering or disposing of the hypothecated movable asset(s) and mortgaged immovable properg, described in Schedule 'A at page 24 and para 3A at page 7 & 8 of the original application, as under -

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Hvoothecated Movable Assets:

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"4il That the hypothecation by way of first and paramount charge in favour of the Applicant Bank in respect of Commercial Vehicle i.e. Ashok Leyland Ltd.- COVVL Chassis / AL 4220 Regn. No. WB-41J-9299."

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The Defendants No.1 & 2 are also debarred from transferring, alienating, encumbering or disposing any other property(s) either movable or immovable and assets belonging to them till the aforesaid adjudicated debt amount are recovered from the Defendants.

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(iv) DefendantsNo.l &2aregivenatimeof sixtydaysfromthedateofthisFinal 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 both moveable and immoveable and also proceed against the Defendants No.1 & 2 personally to recoter the dues, in accordance with law.

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0.A./66 of 2025 - DRT-2//Ko|

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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 in favour of applicantBankundersection 19(22)oftheRecoveryof DebtsandBankruptcyAct, 1993 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, 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 sectio n 19(22) of the Act of 1993.

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Accordingly, the original Application, being o.A. No.66 of 2025 is allowed 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 02nd day ot April,2O26.

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

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ln,t I

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rbind M ) Presiding fficer DRT-2, Kolkata

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Axis Bank v. Rintu Mollick

Case brief

What is this about?

What did the court decide?

Axis Bank v. Rintu Mollick

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

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