PUNJAB NATIONAL BANK vs D D M EMBROIDERY on 16 April 2025

J U D G M E N T

1. The present Recovery Application is filed by the Punjab National Bank, nationalized Bank carrying on business of Banking all over India including from its Branch Office at Dunlop Bridge Branch, Premises No. 202/1, B. T. Road, Police Station- Baranagar, Kolkata – 700108, for recovery of Rs. 20,64,263.83 with interest @ 11.45% p.a. with monthly rest from 20.11.2012 against the Defendants till payment and/or

The Defendants are the borrower/guarantor/mortgager.

2. The service of summons was effected upon the Defendants in usual mode of postal service. Defendants neither appeared nor filed the

Rina S. Written Statement to controvert the claim of the Bank. Hence, the defendants are declared exparte on 28/01/2025.

3. The Applicant in support of its contention filed Evidence on Affidavit duly affirmed by Ms. Aparajita Ghosh, Chief 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. 20,64,263.83 with interest @ 11.45% p.a. with monthly rest from 20.11.2012 till payment or iii) It is declared that the claim is secured by hypothecation of movables as mentioned in the OA. 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 19/05/2025 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.1219 of

Rina S. 2013 is allowed and stands disposed of. All the IAs, if any, are also disposed of. Copy of the Judgment/Final Order be uploaded in the Tribunal’s website. File is 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 16th April 2025) Place: Kolkata ( Ambuja Mohan Das ) Date: 16th April,2025 Presiding Officer

Rina S. Page No.- Order Sheet (continuation) Case No. T.A. No.1219 of 2013 Punjab National Bank vs. M/.s D.D.M. Embroidery & Ors. Date of the order Order with signature Office action with date and dated signature of parties when necessary 16th April

Ld. Advocate Mr. B. Sarkar appeared for the Applicant Bank. None appeared on behalf of the Defendants. Matter was heard in open Court on this the day of 28/01/2025. 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. 20,64,263.83 with interest @ 11.45% p.a. with monthly rest from 20.11.2012 till payment or iii) It is declared that the claim is secured by hypothecation of moveables as mentioned in the OA. 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 19/05/2025 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.1219 of 2013 is allowed and stands disposed of. All the IAs, if any, are also disposed of. Copy of the Judgment/Final Order be uploaded in the Tribunal’s website. File is 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 16th April 2025) Place: Kolkata (Ambuja Mohan Das) Date: 16th April, 2025 Presiding Officer

Rina S.