STATE BANK OF INDIA vs BAASUKINATH WIRE PRODUCTS AND ORS on 20 June 2025

J U D G M E N T

1. The present Recovery Application is filed by State Bank of India, a Nationalized Bank carrying on business at RASMECCC, 180, G. T.

Rina S. Road (S) Shibpur, Howrah – 2 and subsequently the said account transferred to SMECC & SAR Wing, Howrah, Ganges Garden Complex, 106 Kiran Chandra Singha Road, Shibpore, District Howrah, West Bengl, Pin- 711102 for recovery of total sum of Rs.92,69,739.00/- with interest @ 16.75% p.a. with monthly rest from 22.05.2013 against the Defendants till payment and/or realization. The Defendants are the borrower/guarantor /mortgager.

2. The service of summons was not effected upon the Defendants in usual mode of postal service as well as hand service. Hence, by the order of this Tribunal, the summons were served by substitute service of publishing in the newspapers namely “Aajkal” (in Bengali) and “The Hindustan Times” (in English) on 16/07/2016, both are published from Kolkata. Despite substituted service of summons and giving sufficient time, the Defendants neither appeared nor filed the Written Statement to controvert the claim of the Bank. Hence, the matter was declared ex-parte on 13/02/2025.

3. The Applicant in support of its contention filed Evidence on Affidavit duly affirmed by Sri Abhijit Naskar, Chief Manager of the Applicant 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.92,69,739.00/- with interest @ 16.75% p.a. with monthly rest from 22.05.2013 till payment or realization. iii) It is declared that the claim is secured by mortgaged of moveable/immoveable properties described in the Schedule-X at Page no. 18 of 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 Rina S. 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 22/07/2025 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. 296 of 2014 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 20th June,

Place: Kolkata ( Ambuja Mohan Das ) Date: 20/06/2025 Presiding Officer

Rina S. Page No.- Order Sheet (continuation) Case No. TA/296/2014 State Bank of India –Vs.- M/s. Basukinath Wire Products & Anr. Date of the order Order with signature Office action with date and dated signature of parties when necessary 20/06/202

Ld. Advocate, Mr. K. Patra appeared for the applicant Bank. None appeared on behalf of the Defendants. Matter was heard in open Court on this the day of 13/02/2025. 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.92,69,739.00/- with interest @ 16.75% p.a. with monthly rest from 22.05.2013 till payment or realization. iii) It is declared that the claim is secured by mortgaged of moveable/immoveable properties described in the Schedule-X at Page no. 18 of 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 22/07/2025 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. 296 of 2014 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 20th June,

Place: Kolkata ( Ambuja Mohan Das ) Date: 20/06/2025 Presiding Officer

Rina S.