PUNJAB NATIONAL BANK vs SRI MANTU DAS on 10 April 2026

Order

Office actaon with date and dated Signature of parties when necessary

10. o4.2026 Order with Signature Counsel for the parties: Ms. Mehzabeen Begum, Ld. Advocate representing Md. Amjad Ali, Ld. Counsel for the applicant Bank. None for the defendant. T.A.l24 of 2020 (arising out of O.A./480 of 2018) is allowed and disposed of. Final Order / Judgment is in separate sheet of 5 pages. File be consigned to record room. Order be uploaded on the Tribunal's website. tffi^anJ"t Presiding Officer DRT-2, Kolkata f .4.124 ol 2020 - DRf -2Kol DEBTS RECOVERY TRIBUNAL . 2, KOLKATA Jeevan Sudha Bldg. 07th Floor,42lC, J.L. Nehru Road, Kolkata -ZOOOll Before Shri Arbind Madhav Presidino Officer TA o.24ol2O2O (Arising out of O.A./480 of 201 8) ln the matter of Punjab National Bank (erstwhile United Bank of lndia), 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 Derhi - 11oo7s, and carrying on Banking business, inter-alia, through its Jadavpur Branch, al24,Raja s.c. Mallick Road, Kolkata -700032. Applicant Bank -Versus- sri Mantu Das, son of sri Nandalal Das, residing at 9, Baguipara Road, Elachi, p.o.- Narendrapur, Kolkata - 700103. Defendants

Counsel for parties: For the Applicant Bank For the Defendant :Md.AmjadAli : Ex-Pafte. FINAL ORDER / JUDGMENT Delivered on 10.04.2026 Applicant (Punjab National Bank) erstwhile United Bank of lndia instituted the present Application being the original Application No.480 of 2019 fited in DRT-3, Kotkata on 12.06.2018 against single Defendant under section 19(1) of the Recovery of Debts & Bankruptcy Act, 1993 (amended from time to time) for recovery of Rs.1g,93,165.57 (Rupees eighteen lacs ninety three thousand one hundred sixty five and paise fifty seven) including interest calculated upto 31 .05.2018 and future interest chargeable at the contractual Rate, i.e. 15.10o/o per annum excluding penal interest of 2o/o above normal rate with monthly rests, till the actual payment or realization thereof. subsequenfly, 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/Kou2018(pt.) dated 16.09.2019, such has been recorded vide Ld. Registrar, Kolkata DRT-3's Order dated 24.10.2019 and the same has been renumbered as T .A.124 ot 2020 vide Ld. Registrar's order dated 30. .l 0.201 9.

2. United Bank of lndia has been merged / amalgamated into Punjab National Bank vide Gazette Notification dated March 04, 2020, issued by the Government of lndia published under Extraordinary Part-ll, Section 3, sub-section (i) in the Gazefte of lndia in terms of Section 9 of the Banking Companies (Acquisition and Transfer of Undertaking) -,--'1- {--'"-)

r.A.r24 ot 2O2O - DRr -UKot Act, 1970. ln view of the merger / amalgamation of United Bank of lndia into punjab National Bank, the applicant name in this case should be read / inserted as punjab National Bank instead of United Bank of lndia. 3' ln accordance with the Notice dated 3o.o7.2ozo of this Tribunal, Ld. Advocate of the Punjab National Bank has filed a petition being t.A./336 ot2o2,t dalexl 11 .09.2021 praying for amendment of Cause Title in view of amalgamation of United Bank of lndia with Punjab National Bank vide G.o.l. Notification dated a4.03.2020; 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 07.04.2021, such has been recorded in Ld. Registrar-in-charge's order dated 07.04.2021.

4. The Brief Facts of the case are as followed:-

(i) The Defendant having transport business applied to the applicant Bank for CGTMS Loan Facility for the purpose of development of his business vide Application dated 16.04.2011 & 28.10.2011. copy of Apptication dated 16.04.2011 & 2a.10.2011 are annexed and marked as Annexure "A". Upon consideration of loan application, applicant Bank was pleased to sanction / grant a CGTMSE Loan facility of Rs.12,oo,ooo.oo (Rupees twelve lakh) vide letter of sanction dated 19.0s.2011, and again sanctioned Rs'12.37'000.00 (Rupees twelve lakh thirty seven thousand) vide letter of sanction dated 06.12.2011 to the defendant on certain terms & conditions mentioned therein which is accepted by the defendant. copy of said lefters of sanction dated 18.0s.2011 & 06.12.2011are annexed and marked as Annexure ,B,.

(ii) ln consideration of the aforesaid sanction, the defendant executed and delivered the following loan documents in favour of the Applicant Bank:-

a. Hypothecation of Transport Equipment dated 30.05.2011 & 23.12.2011

b. Hypothecation of Debts & Moveable Assets dated 3O.OS.2O1 1 &23.12.2011

c. Lefter of Lien dated 30.05.201 1 & 29.12.2011

d. Demand promissory Note dated 30.05.2011 &23.12.2011

e. Text of Consent Clause

f. Balance Confirmation dated 28.11.2017

g. Documents related with hypothecated vehicles copies of the said documents are annexed and collectively marked as Annexure'c". 5' The Defiendant availed and enjoyed the said credit facilities by opening Account in erstwhile Bank's Jadavpur Branch, at 24, Rala S.C. Mallick Road, Kolkata - 7OOO32. However, the defendant failed and neglected to abide by the terms and conditions of the facility. The Defendant did not repay the outstanding Bank's dues and overdue interests in loan Account. lnspite of repeated requests and personal contact made by applicant Bank, the defendant failed to regularize the loan Account. Despite several requests made by applicant Bank, the defendant did not pay any attention to regularize the Account; consequently, the account(s) became irregular and was classified as NpA on 24.03.2012 (Annexure 'D' in Demand Notice at page 80 of O.A.). Applicant Bank was no other -,...-w ,'r,

T.A.D4 ot 2020 - DRl-2lKot alternative crmpelled to issue demand notice dated 24.0s.2019 upon the defendant advised to regularize the accounts as soon as possible, but the defendant did not comply with the said notice; copy of said demand notice dated 24.0s.201g is annexed and marked as Annexure 'D'. Certified copies of Statement of Account along with Certificate under Bankers' Books of Evidence Act, with interest calculation sheet, have been filecl to show and prove the dues (Annexure 'E'), and future interest at the contractual rate, i.e. @ 15.10Yo per annum with monthly rests with efiect from 01 .06.2018. till the actual payment or realization thereof, 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. lt is seen from the s/R on affidavit dated 07.os.2o2s and its enclosures that service of summon upon the Defendant has been successfully efiected, such has been recorded vide Ld. Register,s order dated 07 .05.2025. Despite service, the defendant did not appear nor filed the written statement, thus, the defendant was ordered to be proceeded ex-pafte vide order dated 13.02.2026. Ld. Advocate of the applicant Bank has submifted argument on 12.03.2026.

Applicant Bank has filed the Affidavit of Evidence, affirmed by sumesh Kumar oraon, Branch Manager of erstwhile Bank's Jadavpur Branch, at 24, Raja s.c. Mallick Road, Kolkata - 700032 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 documents annexed with O.A. and after verification the original documents have been returned to sri sayan Kanti paul, Manager / officer of Bank,s 1gg, Raja S.c. Mallick Road office, Jadavpur, Kolkata - 7ooo32 on 19.01.202i, such has been recorded vide Ld. Registrar-in-charge's order daled 19.07.2023. The documents produced by Bank are exhibited and annexed as Exhibits lto Xl. I have heard the Ld. Advocate ofthe applicant Bank and perused the records. 8' Evidence-on-affidavit, filed by applicant Bank, has remained unchallenged, un- rebutted and its veracity cannot be put to dispute. Applicant Bank has corroborated the averments made in the T.A./o.A. Applicant Bank has proved the sanction of CGTMSE Loan facility of Rs.12.00 lakhs vide letter of sanction dated 1g.os.2o11and Rs.12.37 lakh vide letter of sanction dated 06.12.201 1 . Applicant Bank has proved the hypothecated movable asset - vehicle; morefully described in schedule at page 14 and para 34 at page 7 & 8 of the original application.

9. on the point of limitation, Loan has been sanctioned on 1g.os.2o1 1 and 06.12.2011; loan documents have been executed by defendant on 30.0s.2011 & 23.12.2011, and original Application has been filed on 12.06.2018. Further, the defendant executed and delivered the Balance confirmation Letter dated 28.11.2017 in favour of applicant Bank confirming the outstanding balance in loan Accoun(s). As such, the original Application appears to have been filed well within the period of limitation.

f .A.f24 ol 2020 - DRf -2Kot

10. Applicant Bank has stated that the outstanding balance in Loan Account (inclusive of accrued lnterest and other charges as calculated upto 3.1.05.201g) for a sum of Rs.l8,93,{65.57 (Rupees eighteen lacs ninety three thousand one hundred sixty five and paise fifty seven) as on 31 .05.2018, which is the amount claimed by applicant Bank in the original Application, and the defendant is liable to repay the said amount to the appticant Bank with pende nte lite and future interest, till realization in full. I allow the claim as made by the applicant Bank in the originalApplication. Applicant Bank has prayed future interest at the contractual rate, i.e. @ 15.10% per annum excluding penal interest of 2o/o above normal rate with monthly rests, till the actual payment or realization thereof; while in Demand Promissory Note dated 30.0s.2011 and 23.12.2011the rate of interest @ 13.50% per annum and @ 14.10.o/o per annum respectivery with monthry rests, have been mentioned. Therefore, in my view, the pendente /rfe & future rate of interest @ 13.soo/o per annum, with quarterly rests, from 01.06.201g, 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./r.A. The original application beingT.A.l24 ot 2o2o (arising out of oA/4g0 of 2o1g) deserves to be allowed; hence allowed.

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

ORDER

(i) T.A.l24 ot 2020 (arising out of oA/480 of 2018) fired by appricant Bank, is alrowed and debt is determined with cost against the Defendant. lt is hereby ordered that the Defendant is hereby directed to pay, the total debt amount of Rs.lg,93,168.57 (Rupees eighteen lacs ninety three thousand one hundred sixty five and paise fifty seven) due and payable, inclusive of interest and other charges as calculated upto 31.05.201g; and interest for the period pendente lite and future @ 13.50% per annum, with quarterly rests, from 01 .06.2018, till realization of the entire sum due and recoverable.

(ii) Amount, if any, paid by the Defendant in the roan account 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, lhe pendente lite and future interest shall be calculated on the reduced amount.

(iii) The defendant is debarred from transferring, alienating, encumbering or disposing of the hypothecated movable assets, described in schedule at page 14 and para 3A at page 7 & 8 of the original application. Hvooth ted Movable Assets: " Registration No. Manufacturer Engine No. Fuel Chasrs No. Type of Vehicle : W819E9680 : VE Commercial Vehicles Ltd. : E483cdb1555119 :Diesel : MC217LRT0CA241059 : Bus."

T.A.l24 ol 2020 - ORJ-2JKo| The defendant is arso debarred from transferring, arienating, encumbering or disposing any other property(s) either movable or immovable and assets belonging to him 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. rn case the Defendant fails to pay the dues within the above mentioned time, applicant Bank is entifled to recover its dues by sare of secured property(s), as aforesaid. Appricant Bank is arso entitled to proceed against personal property(s) of the Defendant both moveabre and immoveable and also proceed against the sole Defendant 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 Defendant in favour of Applicant Bank under section 19(22) ofthe Recovery of Debts and Bankruptcy Act, 1993 (amended from time to time) and put up the same for signature for issuance.

(vi) Ld. Recovery officer shall realize the amount as per the Recovery certificate from the sole 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 originar Apprication, being T.A./24 ot 2o2o (arising out of O.A./'40 of 2018) is allowed and stands disposed of. This order is dictated and corrected by the undersigned and pronounced on this the 1Oth day of April, 2026. Copy of the Final Order / Judgment be uploaded in the Tribunal,s Website. "{!frr., fl. Presiding O DRT-2, Kolkata tb