INDIAN BANK vs M/S SPA TRADING on 8 June 2026

Order

Page No. KOLKATA DEBTS REGOVERY TRIBU]IIAL }IO. 2 ORDER SHEET (Continuatlon) INDIAN BANK. caseTfl 258 ot 2020 Vs M'D lTA ] AUtNr.' 6A NR. Offrce action wi0t dab and dat d Sirnature of pedies when moesltaty COUNS EL FOR THE PARTIES Mr S. Pal Chaudhuri & Ms A Khasnabish appeared for the Applicant Bank. None for the Defendants Ttu258 of 2020 is allowed and disposed off Final Order/Judgement is in separate sheet of 5 pages' File be consigned to record room Order be uploaded on the Tribunal's Website

08.06.2026 Order with Signatutu (Arbind Madhav) Presiding Officer DRT-2, Kolkata kkb

r.4.t258 of 2O2O - DRT-2/Kot DEBTS RECOVERY TRIBUNAL - 2, KOLKATA Jeevan Sudha Bldg. 07th Floor,42lC, J.L. Nehru Road, Kolkata -7OOO71 Before Shri Arbind Madhav . Presidinq Officer T.A. No. 258 ol2O20 (Arising out of O.A./584 of 2018) ln the mafter of- INDIAN BANK, a body corporate constituted under the provisions of the Banking Companies 9Acquisition and Transfer of Undertakings) Act, 1970 having its corporate office at 254-260 Awai Shanmugam Salai, Roya Pettoh, Chennai-600014, Tamil Nadu and carrying on business, interalia, at Kidderpore Branch, 4 No. Ram Kamal Street, Kolkata-700023, commonly known as lndian Bank Kiddirpore Branch within the jurisdiction as aforesaid. Applicant Bank -Versus- M/S SPA TRADING proprietorship concern of Mrs Sabita Banerjee having its office and carrying on business at P-22, Radha bazar Street, Room No.4, Kolkata 700001 and Godown at 4C, Bathun Row, Kolkata-700006 both are within the jurisdiction as aforesaid. MRS SABITA BANERJEE wife of Pronab Banerjee having its office and carrying on business al 1111 , Nabin Mukherjee Lane, Howrah- 711'102 both is within the jurisdiction as aforesaid. ...... Defendants

Counsel for parties: For the Applicant Bank For the Defendants SRI NIRMAL CHANDRA KUILA, ADVOCATE Ex-Pafte FINAL ORDER / JUDGMENT Delivered on 08.06.2026 Applicant lndian Bankinstituted the present Application being the Original Application No.O.A./584 of 2018 filed in DRT-3, Kolkata on 12.07 .2018 against two Defendants under Section 19(1) of the Recovery of Debts & Bankruptcy Act, 1993 (amended from time to time) for realizationofRs 67,46,231.00 (Rupees Sixty Seven Lacs Forty Six Thousand Two Hundred Thirty One Only) as calculated to 03.07.2018 in addition thereto a further interest at the rate of 14.95o/o per annum with quarterly rests trom 04.07.2018 upto the date of filing of this application. Subsequently, the instant case has been transferred to DRT-2, Kolkata vide the Hon'ble Chairperson DRAT,

T.A.1258 ol2020 - ORT-2/Kol Kolkata's direction vide letter No.4/6/DRAT/KOU2018(pt.) dated 16.09.20'19, such has been recorded vide Ld. Registrar, Kolkata DRT-3's Order dated 26.10.2019 and the same has been renumbered as T.A./258 of 2020 vide Ld. Registrar's, Kolkata DRT-2's order dated 1 0.06.2020.

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

(i) The Defendant No.1 is a proprietary concern of the Defendant No.2 carrying on business of wholesaler & retailer of printing paper, digital & offset printings. The Defendant No.2 applied for a loan facility which was sanctioned on 30.11.2013 to the extent and/or limit of Rs.35,00,000/- based on certain terms and conditions.

(ii) ln consideration of the aforesaid facility granted, the Defendant executed and delivered the following loan documents in favor of applicant Bank by way of security, acknowledgement of debt & promise to pay:

(a) One Declaration by Sole Proprietor dated 30.11.2013

(b) One Self Declaration from the Applicant regarding Dues/ No Dues with other Banks/ lfs dated 30.1 1 .2013;

(c) One copy of the Single/Joint DPN dated 30.11 .2013 of Rs.35,00,000/-; (d) One Disposal of Proceeds Letter dated 30.11.2013 of Rs.35,00,000/-; (e) One Agreement of hypothecation of movables dated 30..1 1 .2013 (0 One Agreement for Open Cash Credit dated 30.11.20.13

(g) One Letter from the borrower/s for disclosure of information dated 30.1 1 .2013; (h) One Declaration bythe Borrowerdated 30.11.2013; Copy of said documents are annexed and marked as Annexures ,,A,, to ,,A-7', respectively in this OA.

(iii) On request of the Defendant, Applicant Bank increased the said credit facility from Rs.35,00,000.00 to Rs.49,00,000.00 on 15_12.2014 based on certain terms and conditions mentioned in the sanction order and by executing a list of documents.

(a) One Declaration by Sole Proprietor dated 15.12.2014

(b) one self Declaration from the Applicant regarding Dues/ No Dues with other Banks/ lfs dated 15.12.2014,

(c) One copy of the Single/Joint DPN dated 15.12.2014 of Rs.35,00,000t; (d) One Disposal of Proceeds Letter dated 15.'12.2014 of Rs.35,00,000/-; (e) One Agreement of hypothecation of movables dated 15.12.2014

(f) One Agreement for Open Cash Credit daled 15.12.2014

(g) One Letter from the borrower/s for disclosure of information dated 15.12.2014, (h) One Declaration by the Borrowet dated 15.12.2014: Copy of said documents are annexed and marked as Annexures ,,A-8,' to ,,A-14,, iespectively in this OA.

3" r.A.|2SB ot 2020 _ DRr_2,Kot 3' The Defendants enjoyed the said loan facility. However, the Defendants failed and negrected to abide by the terms and conditions of the facirity. rn spite of repeated requests made by the appricant Bank, the Defendants faired to regurarize the roan account. since the Defendants did not pay any attention to regurarize the Account, the Account became out of order and was crassified as N.p.A. The Defendants acknowledged and admitted the said credit facirity by way of executing Acknowledgement of Debt-cum-security on 01 .1 1 .2016 and 01 .12.2012 . copies of the acknowledgement of Debf cum-security are annexed and marked with the letter,,A15,, collectively.

4. on vioration of the terms the Appricant Bank on or about 04.07.2018 through its Ld Advocate sent Demand Notice upon the Defendants. copies of the Demand Notice are annexed and marked with letter ,,A16,, collectively. 5' Since the Defendant failed to keep the terms the Applicant bank submits that it is entitled to initiate recovery proceedings against him for realization of its dues. rt has claimed an aggregate of sum of Rs 67,46,231.00 (Rupees sixty Seven Lacs Forty Six Thousand rwo Hundred rhirty one onry) as carcurated to 03.07.201g in addition thereto a further interest at the rate of 14.g50/o per annum with quarterly rests from 04 07.2018 upto the date of filing of this application till final realization of the entire dues in the said Loan till rearization. A copy of the statement of accounts duly prepared from the Applicant's Books of Account maintained in its usual and ordinary course of business and duly certified under the Banker's Books Evidence Act 1Bg.l have been marked and annexed with letter "A-17" with this OA.

6. The notice / summons was sent to the Defendants by the Tribunar; service of Notice / summons by postar service hasbeen successfufly effected upon the Defendant as recorded vide Registrar's order dated 18.1 1 .202s. Despite service, the Defendants did not appear nor filed the written statement; thus, the Defendants was ordered to be proceeded ex-pafte vide order dated 1g.03.2026. 7' Applicant Bank has filed theAffidavit Of Evidenceaffirmed by Sumit Kumar, officer and constituted attorneyarong with the copies of originar documents executed by Defendants. Original documents have been produced by the 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 is submitted. I have heard the Ld. Advocate for the appricant Bank and perused the records. 8' Affidavit of Evidence, fired by appricant Bank, has remained unchailenged, un- rebutted and its veracity cannot be put to dispute. Appricant Bank has corroborated the averments made in the T.A Appricant Bank has proved the sanction of overdraft facirity.

9. The Application is within the limitation as mentioned in section 24 of the Recovery of Debts and Bankruptcy Act .1993

10. Applicant Bank stated that the outstanding balance in loan Accounts is Rs .67 '46,231.00 (Rupees sixty Seven Lacs Forty six Thousand rwo Hundred rhirty o

7 .A.1258 ot 2020 - DRT-2/Kol One Only) as calculated to 03.07.2018 in addition thereto a further interest at the rate of 14 95o/o per annum with quarterly rests from 04.07.2018 upto the date of filing of this application till final realization of the entire dues in the said Loan till realization. I allow the claim as made by the applicant Bank at the rate of interest @ 13o/opa with quarterly rests from 04.07 .2018 in the said Loan till realization. ,11. The entire amount claimed is unsecured and the Debt are not covered by securities.

12. The matter also falls within the territorial as well as pecuniary jurisdiction of this Tribunal. The Applicant Bank has proved its claim made in the o.A. The original applicationbeingT.A./258 of 2O2O (arisingoutof OA/584of 2018)deservestobeallowed; hence allowed.

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

ORDER

(i)

1. A.t258 of 2020 (arising out of OA/584 of 2018)filed by the applicant Bank, is allowed and debt is determined with cost against the Defendant. lt is hereby ordered that the Defendants is hereby directed to pay, the total debt amount of Rs 67,46,231.00 (Rupees Sixty Seven Lacs Forty Six Thousand Two Hundred Thirty One Only) as calculated to 03.07.2018 in addition thereto a further interest at the rate of 1 3% per annum with quarterly rests from 04.07.2018 till realization of the entire sum due and recoverable.

(ii) Amount, if any, paid by the Defendants 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 Defendants. Accordingly, the pendente /rle and future interest shall be calculated on the reduced amount,

(iii) Defendants are debarred from transferring, alienating, encumbering or disposing of the movable assets or immovable assets.

(iv) Defendants are given a time of forty-five days from the date of this Final order / Judgment for repayment of the above mentioned dues, so intimated to them. ln 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 property(s), as aforesaid. Applicant Bank is also entitled to proceed against personal properties of the Defendants both moveable and immoveable 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 Defendants 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 fncm Defendant, in accordance with law.

T.A.1258 ol 2O2O - DRT-2/Kot

(vii) Ld Registrar of this Tribunal is directed to place Recovery Certificate in terms of this Final Order / Judgment under section .lg(22) of the Act of 1993. Accordingly, the originar Apprication, being T.A./2sg ol 2020 (arising out of OA/584 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 Bth day of June, 2026. copy of the Finar order / Judgment be uproaded on the Tribuna|s website. A-,lr;., An L (Arbind M Presiding Officer DRT-2, Kolkata h kkb )