ARC INDIA LTD vs NITA KAYAL AND ANR on 13 February 2026

J U D G M E N T

1. The present Recovery Application is filed by the ASSET RECONSTRUCTION COMPANY (INDIA) Ltd, nationalized Bank carrying on business of Banking all over India including from its Branch Office at IISCO House,10th floor,” B” Wing, 50, Chowringhee Road, P.S. Shakespeare Sarani, Kolkata-700071, for recovery of Rs. 28,52,084/- with interest @ 13% p.a. with monthly rest from 02/06/2011 against the Defendants till payment and/or realization. The Defendants are the borrower/guarantor/ mortgager.

Rina S.

2. The service of summons could not be effected upon the Defendants in usual mode of postal service. Hence, by the order of this Tribunal, the summons were served by substitute service by publishing in the newspapers in the ‘Janasatta’ (in hindi) and in the ‘Ananda Bazar Patrika’(in Bengali) on 16/12/2015 published from Kolkata. Despite substituted service of summons and giving sufficient time, the Defendant neither appeared nor filed the Written Statement to controvert the claim of the Bank. Hence, the matter was declared exparte on 03/01/2025.

3. The Applicant in support of its contention filed Evidence on Affidavit duly affirmed by Mr. Dibyendu Mukherjee Manager of the Bank annexing the various documents which are exhibited.

4. I have perused the documents and Evidence and heard the Ld. Advocate for the Bank. By the said evidence on affidavit the Applicant could prove its claim and documents. The claim of the Bank is within the limitation and within the jurisdiction of this Tribunal. Hence, the claim of the Bank should be allowed with cost. In the above circumstances it is ordered:

O R D E R

i) Claim of the Applicants is allowed with cost. ii) The Defendants are jointly and severally liable to pay Rs. 28,52,084/- with interest @ 13% p.a. with monthly rest from 02/06/2011 till payment or realization. iii) It is declared that the claim is secured by hypothecation of moveable and mortgage of immoveable property described in the Schedule of immoveable property as described in the in the OA at page 14 and 15. iv) Let, a certificate be issued accordingly. v) Ld. Recovery Officer shall realize the amount as per the Recovery Certificate from the defendants in accordance with law. vi) Ld. Registrar of this Tribunal is directed to deliver recovery

Rina S. certificate in term of the final order/judgment for recovery of the sum against the defendants in favour of the Applicant Bank under Section 19 (22) of the Recovery of Debts due to the Bank and Financial Institutions Act, now known as Recovery of Debts and Bankruptcy Act, 1993. vii) The parties are directed to appear before the Recovery Officer II on 24/03/2026 for further action in accordance with law in the event the entire amount is not paid by the said date. Accordingly, the Original Application being T.A. No. 04 of is allowed and stands disposed of. All the IAs, filed in connection with this OA, are also disposed of. Copy of the Judgment/Final Order be uploaded in the Tribunal’s website. File be consigned to the Record Room. (Dictated to P.S., transcribed by her, corrected, signed and pronounced by me in the open Court on this the day 13th February,2026) Place : Kolkata ( Ambuja Mohan Das ) Date : 13th February,2026 Presiding Officer Page No.- Order Sheet (continuation)

Rina S. Case No. TA /04/2013. ARCIL vs. Nita Kayal & Anr. Date of the order Order with signature Office action with date and dated signature of parties when necessary 13th February,

Ld. Advocate Mr. Rajib Maity appeared for the Applicant Bank. None appeared on behalf of the Defendants. Matter was heard in open Court on 21/01/2026. The detailed order in three pages annexed separately. The gist of the order is as follows:

O R D E R

i) Claim of the Applicants is allowed with cost. ii) The Defendants are jointly and severally liable to pay Rs. 28,52,084/- with interest @ 13% p.a. with monthly rest from 02/06/2011 till payment or realization. iii) It is declared that the claim is secured by hypothecation of moveable and mortgage of immoveable property described in the Schedule of immoveable property as described in the in the OA at page 14 and 15. iv) Let, a certificate be issued accordingly. v) Ld. Recovery Officer shall realize the amount as per the Recovery Certificate from the defendants in accordance with law. vi) Ld. Registrar of this Tribunal is directed to deliver recovery certificate in term of the final order/judgment for recovery of the sum against the defendants 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. vii) The parties are directed to appear before the Recovery Officer II on 24/03/2026 for further action in accordance with law in the event the entire amount is not paid by the said date. Accordingly, the Original Application being T.A. No. 04 of 2013 is allowed and stands disposed of. All the IAs, filed in connection with this OA, are also disposed of. Copy of the Judgment/Final Order be uploaded in the Tribunal’s website. File be consigned to the Record Room. (Dictated to P.S., transcribed by her, corrected, signed and pronounced by me in the open Court on this the day 13th February,2026) Place : Kolkata (Ambuja Mohan Das) Date : 13th February,2026 Presiding Officer