CENTRAL BANK OF INDIA vs M/S ELAHI TEXTILES on 22 July 2022

J U D G M E N T

1. The present Recovery Application is filed by the Central Bank of India, nationalized Bank carrying on business of Banking all over India including from its Branch Office at Baruipur Narasingha Dutta College Branch at 129, Belilious Road, Howrah-711107, for recovery of Rs. 48,69,887/- with interest @ 11.50% p.a. with monthly rests from 23.09.2014 against the Defendant till payment and/or realization. The Defendant is the borrower/guarantor/mortgager.

2. The service of summons could not be effected upon the Defendant 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 ‘Telegraph’ (in English) and in the ‘Eaisamay

Rina S. Patrika’(in Bengali) on 25/05/2019 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 28/06/2022.

3. The Applicant in support of its contention filed Evidence on Affidavit duly affirmed by Mr. Joydeep Baidya, Branch 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 Defendant is liable to pay Rs. 48,69,887/- with interest @ 11.50% p.a. with monthly rests from 23.09.2014 against the Defendant till payment and/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 Schedule –F in the OA at page 35. 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 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. vii) The parties are directed to appear before the Recovery Officer on 24/08/2022 for further action in accordance

Rina S. with law in the event the entire amount is not paid by the said date. Accordingly, the Original Application being T.A. No.211 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 Steno, transcribed by her, corrected, signed and pronounced by me in the open Court on this the day 22nd July,

Place: Kolkata ( Ambuja Mohan Das ) Date: 22/07/2022 Presiding Officer

Rina S. Page No.- Order Sheet (continuation) Case No. TA/211/2014 Central Bank of India vs. M/s. ELAHI TEXTILE Date of the order Order with signature Office action with date and dated signature of parties when necessary 22/07/2022 Ld. Advocate Mr. S. Chakraborty appeared for the Applicant Bank. None is present on behalf of the Defendants. Matter was heard in open Court on this the day of 28/06/2022. 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 Defendant is liable to pay Rs. 48,69,887/- with interest @ 11.50% p.a. with monthly rests from 23.09.2014 against the Defendant till payment and/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 Schedule –F in the OA at page 35. 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 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. vii) The parties are directed to appear before the Recovery Officer on 24/08/2022 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.211 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 Steno, transcribed by her, corrected, signed and pronounced by me in the open Court on this the day 22nd July , 2022) Place: Kolkata ( Ambuja Mohan Das ) Date: 22/07/2022 Presiding Officer

Rina S.