CENTRAL BANK OF INDIA vs DR DEBRANJAN MONDAL on 22 July 2022

**JUDGMENT**

1. This is an Transfer Application arising out of an original application under Section 19 of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 initiated by the applicant against the defendant praying for issuance of Recovery Certificate to the tune of

2. Rs.29,30,675/- (Rupees Twenty-nine Lacs Thirty Thousands Six Hundred Seventy-five only) together with interest, cost and other usual reliefs.

1. 2. The brief facts of the case as made out in the Original Application by the applicant bank is that on being approached by the defendant, the applicant bank had sanctioned Cash Credit (Hypothecation) facilities as also term loan upto the limit of Rs.45 lacs in favour of the defendant with certain terms and conditions, which was accepted by the defendants. To avail the above cash credit facilities, the defendant had executed various loan documents in favour of the applicant bank.

2. 3. After availing the loan, the defendants had utilized the said loan amounts in its business and operated the loan account at the initial stage but subsequently the defendant had failed to operate the said loan account in terms of the agreement between the parties as a result of which the loan account became irregular. A sum of Rs. 29,30,675/- is due against the defendant which the defendant had not paid despite repeated demands and request. Finding no other way to recover the dues of the bank, the applicant bank had filed this Original Application for the recovery of the aforesaid amount and for the issuance of Recovery Certificate against the defendant.

3. 4. Notices were issued to the defendants to show cause as to why the relief prayed for by the applicant bank be not granted. After issuance of the notice, the defendant neither appeared nor filed their show cause reply. Consequently, the said defendants were set ex-parte on 22.06.2022. The Tribunal had no other option but to hear ex-parte against the defendant.

4. 5. I have heard the learned counsel for the applicant bank and have perused the relevant documents.

5. 6. The defendant had not contested the case of the applicant bank. Thus, the point for determination in this case is (i) Whether the claim of the applicant bank is within time? (ii) Whether the defendant had utilized the loan facilities granted by the bank? (iii) Whether the defendant is liable to the amount due to the applicant bank or not?

1. 7. The applicant bank by oral and documentary evidence has established its case. The documentary evidence comprises from Annexure/Exhibit A to Annexure/ Exhibit A-6, which are available in paper book filed by the applicant bank.

2. 8. From the perusal of the documents referred above and the certified copy of the statement of account, which is filed as Annexure/Exhibit A-2, it is established that the defendant had availed the financial facilities from the applicant bank and had withdrawn the amount through the account.

3. 9. The oral testimony comprises of an affidavit of Shri Navendu Kumar, Branch Manager of the then applicant bank. The averments in the application and the facts stated by the witness of the applicant in his affidavit are unrefuted.

4. 10. From the perusal of the Statement of Account which is Annexure/Exhibit-A-2, the total outstanding comes to Rs.29,30,675/- (Rupees Twenty-nine Lacs Thirty Thousands Six Hundred Seventy-five only) only which the applicant bank is entitled to recover from the defendant.

5. 11. In view of the above discussion and after considering the entire evidence-on-affidavit of the applicant bank and the documents filed by the applicant bank, I have no hesitation to hold that the applicant bank is entitled to recover a sum of Rs29,30,675/- (Rupees Twenty-nine Lacs Thirty Thousands Six Hundred Seventy-five only) from the defendant who is liable for the same. The applicant bank shall also be entitled to interest pendente lite and future interest on the said amount at the rate of 15% per annum from the date of filing of the Original Application till the date of realization.

O R D E R

1. (1) T.A. No.1678 of 2013 arising out of O.A. No.351 of 2013 filed by the Applicant Bank is allowed and debt is determined with cost against the defendant. It is hereby ordered that applicant bank is entitled to recover from the defendant the total amount to the tune of Rs. 29,30,675/- (Rupees Twenty-nine Lacs Thirty Thousands Six

Hundred Seventy-five only) with interest pendentelite on the said amount at the rate of 15% per annum due from the date of filing of the Original Application, i.e. 26.03.2013 till full and final realization of the claim amount.

- (2) Amount, if any, paid by the defendant in the loan accounts or amount, if any, recovered by the Applicant Bank after filing of the O.A. the same be taken into account while arriving at the exact amount of dues/debt payable by the defendant. Accordingly, pendentelite interest shall be calculated on the reduced amount.

- (3) Defendant is debarred from disposing, alienating or dealing with any of the properties belonging to them till the aforesaid decretal debt is recovered from the defendant.

- (4) Defendant is given a time of thirty days from the date of the Judgment/Final Order for repaying of the above mentioned dues, so intimated to him. In case the defendant fails to pay the dues within the above mentioned time, the applicant bank is entitled to recover its dues by sale of secured assets, if any. Applicant bank is also entitled to proceed against personal properties of the defendant (Both movable and immovable) and also proceed against the defendant personally to recover the dues in accordance with law.

- (5) Let the Certificate of Recovery be drawn up by Ld. Registrar forthwith in terms of Judgment for issuance of the same against defendant in favour of the applicant bank under Section 19 (22) of the Recovery of Debts and Bankruptcy Act, 1993 and put up the same for issuance of the Certificate.

- (6) Ld. Recovery Officer shall realize the amount as per the Recovery Certificate from the defendant in accordance with law. 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.

(8) The parties are directed to appear before the Recovery Officer on 22.8.2022 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.1678 of 2013 arising out of O.A. No.351 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.

(Dictated to Steno, transcribed by him, corrected, signed and pronounced by me in the Court on this the 22^nd day of July, 2022)

(AMBUJA MOHAN DAS)

PRESIDING OFFICER.

Presiding Officer Debt Recovery Tribunal No-I Kolkata

<table border="1"> <tr> <td data-bbox="78 88 315 148">Page No.-<br/>Case NO. T.A. No.1678 of 2013 arising out of O.A. No.351 of 2013</td> <td data-bbox="315 88 822 148">Order Sheet (continuation)<br/>Central Bank of India Vs Dr Debranjan Mondal</td> </tr> <tr> <td data-bbox="78 148 192 175">Date of the order</td> <td data-bbox="192 148 790 175">Order with signature</td> </tr> <tr> <td data-bbox="78 175 192 844">21/07/2022</td> <td data-bbox="192 175 790 844"> <p>Ld. Advocate Ms. Aparajita Rao, appeared for the Applicant Bank. None is present on behalf of the Defendant. Matter was heard in Court on this the day of ____, July, 2022. The detailed order in 5 pages annexed separately. The gist of the order is as follows:</p> <p style="text-align: center;"><b>ORDER</b></p> <p>1. T.A. No.1678 of 2013 arising out of O.A. No.351 of 2013 filed by the Applicant Bank is allowed and debt is determined with cost against the defendant. It is hereby ordered that applicant bank is entitled to recover from the defendant the total amount to the tune of Rs. 29,30,675/- (Rupees Twenty-nine Lacs Thirty Thousands Six Hundred Seventy-five only) with interest pendentelitte on the said amount at the rate of 15% per annum due from the date of filing of the Original Application, i.e. 25.03.2013 till full and final realization of the claim amount.</p> <p>2. Amount, if any, paid by the defendant in the loan accounts or mount, if any, recovered by the Applicant Bank after filing of the O.A. the same be taken into account while arriving at the exact amount of dues/debt payable by the defendant. Accordingly, pendentelitte interest shall be calculated on the reduced amount.</p> <p>3. Defendants are debarred from disposing, alienating or dealing with any of the properties belonging to them till the aforesaid decreetal debt is recovered from the defendant.</p> <p>4. Defendants are given a time of thirty days from the date of the Judgment/Final Order for repaying of the above mentioned dues, so intimated to them. In 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 assets, if any. Applicant bank is also entitled to proceed against personal properties of the defendants (Both movable and immovable) and also proceed against the defendant personally to recover the dues in accordance with law.</p> <p>5. Let the Certificate of Recovery be drawn up by Ld. Registrar forthwith in terms of Judgment for issuance of the same against defendant in favour of the applicant bank under Section 19 (22) of the Recovery of Debts and Bankruptcy Act, 1993 and put up the same for issuance of the Certificate.</p> <p>6. Ld. Recovery Officer shall realize the amount as per the Recovery Certificate from the defendant in accordance with law.</p> <p>7. 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.</p> <p>8. The parties are directed to appear before the Recovery Officer on 22.08.2022 for further action in accordance with law in the event the entire amount is not paid by the said date.</p> <p>Accordingly, the Original Application being T.A. No.1678 of 2013 arising out of O.A. No.351 of 2013 is allowed and stands disposed of. All the IAs, if any, are also disposed of.</p> <p>Copy of the Judgment/Final Order be uploaded in the Tribunal's website. File is consigned to the Record Room.</p> <p>(Dictated to Steno, transcribed by him, corrected, signed and pronounced by me in the Court on this the day of 21 July, 2022).</p> <p>tsm... Place: Kolkata<br/>Date: 21/07/2022</p> <p style="text-align: right;">(AMBUJA MOHAN DAS)<br/>PRESIDING OFFICER</p> </td> </tr> </table>

Presiding Officer Debts Recovery Tribunal No.1 Kolkata