Punjab National Bank vs SMT MITA NASKAR on 6 March 2026

Page No.**KOLKATA DEBTS RECOVERY TRIBUNAL NO. 2****ORDER SHEET**

(Continuation)

T.A./183 of 2019

Punjab National Bank

Case No. \_\_\_\_\_

Vs

Smt. Mita Naskar

<table border="1"> <thead> <tr> <th data-bbox="100 225 175 290">Date of Order</th> <th data-bbox="175 225 780 290">Order with Signature</th> <th data-bbox="780 225 910 290">Office action with date and dated Signature of parties when necessary</th> </tr> </thead> <tbody> <tr> <td data-bbox="100 290 175 940">20<br/>06.03.2026</td> <td data-bbox="175 290 780 940"> <p>Counsel for the parties:</p> <p>Mr. O.P. Chowdhury, Ld. Advocate representing Mr. Nirmal Chandra Kuila, Ld. Advocate for the applicant Bank.</p> <p>None for the defendant.</p> <p>T.A./183 of 2019 (arising out of O.A./202 of 2018) is allowed and disposed of.</p> <p>Final Order / Judgment is in separate sheet of 5 pages.</p> <p>File be consigned to record room.</p> <p>Order be uploaded on the Tribunal's website.</p> <p style="text-align: right;"> <br/> (Arbind Madhav)<br/> Presiding Officer<br/> DRT-2, Kolkata </p> </td> <td data-bbox="780 290 910 940"></td> </tr> </tbody> </table>

1

T.A./183 of 2019 – DRT-2/Kol

**DEBTS RECOVERY TRIBUNAL - 2, KOLKATA**

Jeevan Sudha Bldg. 07^th Floor, 42/C, J.L. Nehru Road, Kolkata – 700071

Before Shri Arbind Madhav, Presiding Officer **T.A. No. 183 of 2019**

(Arising out of O.A./202 of 2018)

**In the matter of-**

**Punjab National Bank** (erstwhile United Bank of India), a body corporate constituted under Banking Companies (Acquisition & Transfer of Undertakings) Act, 1970, having its Head Office at Plot No.4, Sector-10, Dwarka, New Delhi – 110075, and carrying on Banking business, *inter-alia*, through its Birati Branch, Mahajatinagar, 88, Sarat Bose Road, P.O.- Rajbari, Dist.- North 24-Parganas, Kolkata – 700081, West Bengal.

..... Applicant Bank

-Versus-

- 1. **Smt. Mita Naskar**, Proprietor of M/s M N Agency, Daughter of Prakash Chandra Naskar, Village – Purba Ichapur, P.O.- Kadambagachi, P.S.- Barasat, District – North 24 Parganas, Pin – 700125; also at Mathkal, Purbapara, Rabindranagar, South Dum Dum, Kolkata – 700065.

..... Defendant

Counsel for parties:

<table border="0"> <tr> <td>For the Applicant Bank</td> <td>:</td> <td>Sri Nirmal Chandra Kuila</td> </tr> <tr> <td>For the Defendant</td> <td>:</td> <td>Ex-Parte</td> </tr> </table>

**FINAL ORDER / JUDGMENT**

Delivered on 06.03.2026

Applicant (Punjab National Bank) erstwhile United Bank of India instituted the present Application being the Original Application No.202 of 2018 filed in DRT-3, Kolkata on 21.03.2018 against single Defendant under Section 19(1) of the Recovery of Debts & Bankruptcy Act, 1993 (amended from time to time) for recovery of **Rs.22,00,245.00** (Rupees twenty two lacs two hundred forty five) including interest as calculated upto 31.01.2018 and further interest from 01.02.2018 @ 11.75% per annum with monthly rests, till realization in full. Subsequently, the instant case has been transferred to DRT-2, Kolkata vide the Hon'ble Chairperson DRAT, Kolkata's direction vide letter No.4/6/DRAT/KOL/2018(pt.) dated 16.09.2019, such has been recorded vide Ld. Registrar, Kolkata DRT-3's Order dated 18.10.2019 and the same has been renumbered as T.A./183 of 2019 vide Ld. Registrar's order dated 02.11.2019.

2. United Bank of India has been merged / amalgamated into Punjab National Bank vide Gazette Notification dated March 04, 2020, issued by the Government of India published under Extraordinary Part-II, Section 3, sub-section (i) in the Gazette of India in terms of Section 9 of the Banking Companies (Acquisition and Transfer of Undertaking) Act, 1970. In view of the merger / amalgamation of United Bank of India into Punjab National Bank, the applicant name in this case should be read / inserted as Punjab National Bank instead of United Bank of India.

3. In accordance with the Notice dated 30.07.2020 of this Tribunal, Ld. Advocate for Punjab National Bank has filed a petition being I.A./971 of 2021 dated 03.09.2021 praying for amendment of Cause Title in view of amalgamation of United Bank of India with Punjab National Bank vide G.O.I. Notification dated 04.03.2020; and in accordance with the direction of the Tribunal necessary amendment in cause title has been carried out by Ld. Advocate of the applicant Bank on 21.09.2021, such has been recorded in Ld. Registrar-in-charge's order dated 21.09.2021.

4. The brief facts of the case as set out by the applicant Bank in its Original Application, as under:

- (i) The Defendant being the proprietor of M/s M N Agency approached and applied to the applicant Bank for loan facilities vide application dated 02.09.2016. Upon consideration of loan application, applicant Bank was pleased to grant / sanction overall limit of Rs.20,50,000/- (Rupees twenty lacs fifty thousand) [Term Loan of Rs.50,000/- and Cash Credit of Rs.20.00 Lac] based on certain terms and conditions against security of business assets, hypothecation of stocks of clothes and book debts both present and future. Copy of loan application and sanction letter dated 15.09.2016 are annexed and marked with letter "A".

- (ii) In consideration of the aforesaid facility granted, the defendant executed and delivered the following loan documents all dated 15.09.2016 in favour of applicant Bank:

- (a) Demand Promissory Note for Rs.20.50 lacs;

- (b) Hypothecation agreement;

- (c) Letter of continuity;

- (d) Letter of lien;

- (e) Agreement of Term Loan.

Copy of said documents are annexed and marked as Annexures "A-1", "A-2", "A-3", "A-4" and "A-5" respectively.

5. The Defendant enjoyed the said loan facility by opening Account in Bank's Birati Branch, Mahajatinagar, P.O.- Rajbari, dist.- 24-Parganas (North). However, the defendant failed and neglected to abide by the terms and conditions of the facility. In spite of repeated requests made by applicant Bank, the defendant failed to regularize the loan account. Since the defendant did not pay any attention to regularize the Account, the Account became out of order and was classified as N.P.A on 30.09.2017. A notice

dated 06.11.2017 was sent to the Defendant informing the account become irregular; copy of such notice dated 06.11.2017 is annexed and marked as Annexure "A-6". In view of the failure on the part of the defendant, applicant Bank issued demand and/or Recall Notice dated 01.02.2018 upon the defendant through its Advocate demanding to repay the outstanding loan amount, but the defendant did not comply the said notice; copy of notice dated 01.02.2018 is annexed and marked with Letter 'A-8'. Certified copies of Statement of Account along with Certificate under Bankers' Books of Evidence Act, with interest calculation sheet, have been filed to show and prove the dues (Annexure 'A-7'), and future interest @ 11.75% per annum with monthly rests, till realization in full, has been prayed. Applicant Bank submitted that their claim in the Application is within limitation.

6. The notice / summons was sent to the Defendant by the Tribunal; service of Notice / summons by postal service has been successfully effected upon the Defendant as recorded vide Registrar's order dated 11.07.2024. Despite service, the defendant did not appear nor filed the written statement; thus, the defendant was ordered to be proceeded *ex-parte* vide order dated 16.12.2024. Ld. Advocate of the applicant Bank has submitted argument on dated 02.02.2026.

7. Applicant Bank has filed the evidence-on-Affidavit affirmed by Manoj Kumar Biswas, Manager of erstwhile Bank's Birati Branch, Dist.- 24-Parganas (North), Kolkata – 700081 along with the copies of original documents executed by Defendant. Original documents have been produced by applicant Bank; the same have been verified with copies of the documents annexed with O.A. and after verification the original documents have been returned to Sri Samar Kumar Majumdar, Sr. Manager of Bank's Birati Branch, 88, Sarat Bose Road, P.O.- Rajbari, Kolkata – 700081 on 24.08.2023, such has been recorded in Ld. Registrar's order dated 24.08.2023. The documents produced by applicant Bank are exhibited and annexed as Annexures "A" & 'A-1' to 'A-8'.

I have heard the Ld. Advocate for the applicant Bank and perused the records.

8. Evidence-on-affidavit, filed by applicant Bank, has remained unchallenged, unrebuted and its veracity cannot be put to dispute. Applicant Bank has corroborated the averments made in the O.A. Applicant Bank has proved the sanction of overall facility of Rs.20.50 lacs vide sanction letter dated 15.09.2016. Applicant Bank has proved the creation of hypothecated stocks and movable assets etc., described in Schedule at page 74 and para 3A at page 6 & 7 of the original application.

9. On the point of limitation, Loan has been sanctioned on 15.09.2016; loan documents have been executed on 15.09.2016 and Original Application has been filed on 21.03.2018. As such, the original Application appears to have been filed well within the period of limitation.

4T.A./183 of 2019 - DRT-2/Kol

10. Applicant Bank has stated that the outstanding balance in Loan Accounts (inclusive of accrued Interest and other charges as calculated upto 31.01.2018) for an aggregate sum of **Rs.22,00,245.00** (Rupees twenty two lacs two hundred forty five) as on 31.01.2018, which is the amount claimed by applicant Bank in the original Application, and the sole defendant is liable to repay the said amount to the applicant Bank with *pendente lite* and future interest, till realization in full. I allow the claim as made by the applicant Bank in the original Application. Applicant Bank has prayed future interest @ 11.75% per annum with monthly rest, till realization, while in Demand Promissory Note dated 15.09.2016 the same rate of interest, i.e. @ 11.75% per annum with monthly rest, has been mentioned. Therefore, the *pendente lite* & future rate of interest @ 11.75% per annum, with quarterly rests, from 01.02.2018, is allowed.

11. The matter also falls within the territorial as well as pecuniary jurisdiction of this Tribunal. Applicant Bank has proved its claim made in the O.A. The original application being T.A./183 of 2019 (arising out of OA/202 of 2018) deserves to be allowed; hence allowed.

12. In view of the above, I pass the following order:-

ORDER

(i) T.A./183 of 2019 (arising out of OA/202 of 2018) filed by applicant Bank, is allowed and debt is determined with cost against the Defendant. It is hereby ordered that the Defendant is hereby directed to pay, the total debt amount of **Rs.22,00,245.00** (Rupees twenty two lacs two hundred forty five) due and payable, inclusive of interest and other charges as calculated upto 31.01.2018; and interest for the period *pendente lite* and future @ 11.75% per annum, with quarterly rests, from 01.02.2018, till realization of the entire sum due and recoverable.

(ii) Amount, if any, paid by the Defendant in the loan accounts or amount, if any, recovered by the applicant Bank after filing of the Original Application, the same may be taken into account while arriving at the exact amount of dues/debt payable by the Defendant. Accordingly, the *pendente lite* and future interest shall be calculated on the reduced amount.

(iii) Defendant is debarred from transferring, alienating, encumbering or disposing of the hypothecated movable assets; described in Schedule at page 74 and para 3A at page 6 & 7 of the original application, as under - Hypothecated Moveable Asset "(Assets remaining hypothecated with applicant as security but in possession and control of defendant)

All stocks of various types of hypothecation of stocks of fish, stocks in process, receivables present and future, book debts, lying and situate at village- Purba Ichapur, P.O.- Kadambagachi, P.S.- Barasat, District- North 24 Parganas, Pin-700125."

The Defendant is also debarred from transferring, alienating, encumbering or disposing any other property(s) either movable or immovable and assets belonging to her till the aforesaid adjudicated debt amount are recovered from the Defendant.

(iv) The Defendant is given a time of sixty days from the date of this Final Order / Judgment for repayment of the above mentioned dues, so intimated to her. 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 property(s), as aforesaid. Applicant Bank is also entitled to proceed against personal properties of the Defendant both moveable and immovable personally to recover the dues, in accordance with law.

(v) Let the Certificate of Recovery be drawn up by Ld. Registrar forthwith in terms of Final Order / Judgment for issuance of the same against the sole Defendant in favour of applicant Bank under Section 19(22) of the Recovery of Debts and Bankruptcy Act, 1993 and put up the same for signature for issuance.

(vi) Ld. Recovery Officer shall realize the amount as per the Recovery Certificate from the Defendant, in accordance with law.

(vii) Ld. Registrar of this Tribunal is directed to place Recovery Certificate in terms of this Final Order / Judgment under section 19(22) of the Act of 1993.

**Accordingly, the Original Application, being T.A./183 of 2019 (arising out of OA/202 of 2018) is allowed and stands disposed of.**

File be consigned to Record room.

This order is dictated and corrected by the undersigned and pronounced on this the 06^th day of March, 2026.

Copy of the Final Order / Judgment be uploaded on the Tribunal's Website.

(Arbind Madhav) Presiding Officer DRT-2, Kolkata

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