Punjab National Bank vs ASHISH SAHA on 28 July 2026

Order

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28.07.2026 COUNSEL FOR THE PARTIES: lVr O.P Chowdhury & tt/r N.C Kulia appeared for the Applicant Bank. None for the Defendants. TAl141 of 2020 is allowed and disposed off Final Order/Judgement is in separate sheet of 4 pages. File be consigned to record room Order be uploaded on the Tribunal's Website. o,#*adhav) Presiding Officer DRT-2, Kolkata kkb Ordcrwltlr Slgnature

DEBTS RECOVERY TRIBUNAL - 2, KOLKATA Jeevan Sudha Bldg. 07th Floor, 42tC, J.L. Nehru Road, Kolkata -7OOO71 Before Shri Arbind Madhav, Presidinq Officer TA No. 141 of 2020 (Arising out of O.A./537 of 2018) ln the matter of PUNJAB NATIONAL BANK, a body corporate constituted under the Banking Companies( Acquisition and Transfer of Undertakings) Act 1970 having its Head Office at Plot No-4, Sector - 10, Ne'u Delhi-110075 and Branch Office amongst other places at Hridaypur Railway station Branch, P.S- Hridaypur North 24 Parganas. .Applicant Bank -Versus-

1. Mr. ASHISH SAHA, Chcwdhurypara Charak Danga 3'd Lane , P.O + Ps Barasat, District - 24 Parganas(N) Pin-7 00124. .........Defendants Counsel for partres: For the Applicant Bank For the Defendant SMRUTI REKHA MISHRA, ADVOCATE Ex-Par7e. F.INAL ORDER / JUDGMENT Delivered on 2E C7.2026 Applicant Punjab National Bank instituted the present Application being the Original Application No.O.A.1537 of 2018 filed in DRT-3, Kolkata on 02.47.2018 against sole Defendant under Section 19(1) of the Recovery of Debts & Bankruptcy Act, 1993 (amended from time to time) for realization of Rs.21 ,77,331.84(Rupees Twenty One Lac Seventy Seven Thousand Three Hundred Thirty One and Paisa Eighty Four Only) only including interest as calculated upto 3'1.01 .2018 with further interest from 01 .02.2C18 tili realization of the claims @10.65% per annum with monthly rests. Subsequentiy, the instant case has been transferred to DRT-2, Kolkata vide the Hon'ble Chairperson DRAl-, Kolkata's direction vicie letter No.4/6/DRAf ,KOL12O18(pt) dated 16 09.2019. 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./141 of 2020 vide Ld. Registrar's, K.olkata DRT-2's order dated 07.11.2019

2. The Brief Facts of the case are as followed:- ,@

i On 25.06.2011 the applicant granted credit facility with a limit of Rs 16 Lacs based on certain terms & conditions. A copy of the application and sanction letter dated 07.07.2011 is marked as "A" in this OA. ii. The following documents were executed in the process:- a Demand Promissory Note dated 07 .07 .2011 for Rs.'16 Lacs b Hypothecation of Debts and [Moveable Assets dated 07.07.2011

c. Deed of Hypothecation dated 07.07.2011

d. Letter of Lien dated 07.07.2011 Copies of these documents are annexed and marked "A-1", "A-2", "A-3" and "A-4" respectively. iii. Balance Confirmation letters were executed by the Defendant which are collectively marked as Annexure "A-5".

3. The Defendants enjoyed the said loan facility. However, the defendants failed and neglected to abide by the terms and conditions of the facility. ln spite of repeated requests made by the applicant Bank, the defendants failed to regularize the loan account. Since the defendants did not pay any attention to regularize the Account, the Account became out of order and was classified as Non Performing Asset (NPA). The Applicant has sent letters demanding payment several times to the Defendant the copies of which are collectively marked as Annexure "A-6". A Demand Notice was also sent the copy of which is enclosed as Annexure "A-7".

4. The Defendants are served with summons. The Defendants did not appear, as there was no representation from the Defendants, the case was fixed for ex-parte hearing on 02.05.2025 and heard ex-parte accordingly.

5. Applicant Bank has filed the Affidavit Of Evidence affirmed by Mrs Krishna Das, along with the copies of original 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.

6. Heard the Ld. Counsel for the Applicant Bank

7. Affidavit Of Evidence, 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. Applicant Bank has proved the sanction of overdraft facility.

8. The Application is within the period of limitation hence allowed. L Applicant Bank stated that the outstanding balance in loan Accounts is Rs.21 ,77,331 84(Rupees Twenty One Lac Seventy Seven Thousand Three Hundred Thirty One and Paisa Eighty Four) only including interest as calculated upto 3'1.01 .2018 with further interest from 01 .02.2018 till realization of the claims @10.65% per annum with monthly rests, which is the amount claimed by the Applicant Bank in the original Application. fhe defendant is liable to repay the said amount to the Applicant Bank with pendentelife and future interest, till realization. I allow the claim as made by the applicant Bank @10.65% with quarterly rests from 01 .02.2018 in the said Loan till realization.

10. 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 application being T.4.1141 of 2020 (arising out of 0.4.1537 of 2018) deserves to be allowed; hence allowed.

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

ORDER

(i) T.A./141 of 2020 (arising out of O.4./537 of 2018) filed by the Applicant Bank, is allowed 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.21 ,77,331.84(Rupees Twenty One Lac Seventy Seven Thousand Three Hundred Thirty One and Paisa Eighty Four) only as calculated upto 31 .01.2018 with interest @10.650/0 per annum,.with quarterly rests from 01.02.2018 till final realizatron of the entire dues is allowed.

(ii) Amount, if any, paid by the Defendant in the loan 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, the pendentelife and future interest shall be calculated on the reduced amount.

(iii) The defendant is debarred from transferring, alienating, encumbering or disposing of the hypothecated moveable asset, described in Para 3A of this OA. "All that piece and parcel of vehicle being registration no.NL 05D9532, Vehtcle C/ass- Truck, Vehicle Maker-TATA Motors LPT-2518, Body-TRUCK, Engine no. 697TC68CYY 1 0682 1, Chasis No M at452027 8/c06947 Year oi m a n ufact u re-20 1 1 stand in the name of Mr.ASll/SH SAHA " The defendant is also debarred from transferring, alienating, 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 him. ln 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 properties, as aforesaid. Applicant Bank is also entitled to proceed against personal properties of the Defendant both moveable and immoveable and also proceed against the Defendant personally to recover the dues, in accordance with law.

f An4l of 2020 - DRT-2/Kol

(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) of the 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 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 1141 of 2020 (arising out of O A /537 of 2018) is allowed and stands disposed of. This order is dictated and corrected by the undersigned and pronounced on this the 28th day of July 2026. Copy of the Final Order / Judgment be uploaded in the Tribunal's Website. A//rA r{D Ln, ndMad 't- Presiding Officer DRT-2, Kolkata x kkb