Punjab National Bank vs M S R C ENTERPRISE AND ORS on 28 July 2026

Order

of 'Vr M/S R.C ENTERPRISE & ORS - Ofnca lcflonwllh dda tnddaled Sbnersof .. ptlirautrart DCottSary

28.07.2026 I I I

Ord.rulth tllgnrtsr COUNS EL FOR THE PARTIES tt/r. Swastik Saha appeared for the Applicant Bank. None for the Defendants. TA 348 of 2019 is allowed and disposed off Final Order/Judgement is in separate sheet of 7 pages. File be consigned to record room Order be uploaded on the Tribunal's Website. rxffi*-*,, Presiding Officer DRT-2, Kolkata kkb

DEBTS RECOVERY TRIBUNAL . 2, KOLKATA JeevanSudha Bldg. 07th Floor, 421C, J.L. Nehru Road, Kolkata -700071 Befofe ShriArbindMadhav, Presiding Officer TA No. 348 of 2019 (Arising out of O.4.1454 of 20'lB) Irr the matter of PUNJAB NATIONAL BANK (erstwhile United Bank of lndia),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,Dwarka, New Delhi-110075 and Branch Office amongst other places atl\4adhyamgram Branch situated at 'Pushpa' Arcade, 116, Sodepur Road, It/adhyamgram, Basunagar, District-North 24 Parganas. Kolkata-700129. .Applicant Bank -Versus-

1. M/s R.C Enterprise(a partnership firm), Partners:- Smt RumaChatterjee and Sri Avijeet Paul, 1322, SHKB Sarani, Post Office-Dum Dum [Motijheel, Kolkata- 700074, West Bengal, lndia

2. Smt RumaChatterjee, daughter of Sri Kamal Chatterjee, 1322, SHKB Sarani, Post Office -DumDum f\Iotrijheel, Kolkata-700074, West Bengal, lndia.

3. Sri Avijeet Paul, Son of Sri Gopal Paul, 563 SHKB Sarani, Post Office- Dum Durm Motijheet, Kolkata-70007 4, West Bengal, lndia. Defendants Counsel for parties: For the Applicant Bank For the Defendant SWASTIK SAHA, ADVOCATE Ex-Parte. FINAL ORD / JUDGMENT Delivered on 28 07.2026 Applrcant Punjab National Bankinstituted the present Application being the Original Application No.O.A.1454 of 2018 filed in DRT-3,Kolkataon 01 06.2018 against three Defendants under Section 19(1) of the Recovery of Debts & Bankruptcy Act, 1993 (amerrded from time to time) for realization ofRs.76,15,499.07(Rupees Seventy Six Lac Fifteen Thousand Four Huncjred Ninety Nine and Seven Paisa Only) and interest tl-iereon at the rate prescribed as amended from time to time compounded with monthly rests

TA/348 of 20'19 - DRT-2/Kol from April, 01 2018 to till the date of payment or recovery from the Defendants. 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/DRAflKOLl2018(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./348 of 2019 vide Ld. Registrar's, Kolkata DRT-2's order dated 30.10.2019.

2. The Brief Facts of the case are as followed:- i. The Defendant No.1 through its Proprietor [/lrs RumaChatterjee applied for loan facility for the purpose of manufacturing ready-made garments which was sanctioned to overall limit of Rs.40,00,000.00/-. The copy of the loan sanction letter has been marked with the letter "A"^ ii. The following documents were executed on 22.02.2013 in the process:-

a. Declaration on execution of documents

b. Demand Promissory Note/D.P Note of Rs.40,00,000/-

c. Letter of Continuity

d. Letter of Lien

e. Hypothecation of Goods

f. Hypothecation of Debts & tVovable Assets Copies of these documents are annexed and marked as "8" to "B-5" collectively. iii. An Affidavit cum Undertaking and a notarized Partnership Deed was executed the copy of which is marked with the letter "C" collectively. iv. A further application was made to the Applicant Bank on 07.03.2014 for the enhancement of loan from 40,00,000/- (Rupees Forty Lakhs) to Rs.69,00,OO0/-(Rupees Sixty Nine Lakhs). The copy of this is marked and annexed as letter "D" & the sanction letter is marked with letter "E". v. The Defendants No.2 & 3 on behalf of Defendant No.1 executed the following documents in the process s of enhancement:-

a. Declaration on execution of documents

b. Demand Promissory Note/D.P. Note of Rs.69,00,000/-

c. Letter of Continuity

d. Letter of Lien

e. Hypothecation Agreement (Goods, Book Debts, Plant & [Vlachineries) The copies of these are marked and annexed from "F" to "F-4" collectively.

vii. The Defendant No.3 executed a Guarantee document dated 19.03.2014 the copy of which is marked with letter "G".

viii. The Defendant No.3 created equitable mortgage by depositing three title deeds.- l Sale Deed No-12625 for the year 2013, 2. Sale Deed No-12624 for the year 2013,3 Gift Ded No-00610 for the year 2009. These Deeds are more particularly described in ..<the Schedule "X" & annexed with the letter "H", "H-1" and "H-2". @

ix. On 10.03.2015, 08.05.2015, 12.06.2015 & 28.06.2015 the Applicant Bank sent reminder notices the copy of which are marked with the letters "l", "l-1" & "l-2" respectively. x. A Demand Notice dated 01.07.2015 was sent the copy of which along with its postal receipts are marked with letter "J". On basis of the Demand Notice, the Defendants through their Learned Advocate made a reply denying the allegations. The copy of the letter dated 15.07.2015 is marked with letter "J-1". xi. Another set of reminder cum cautioning notices dated 19.11.2015, 07.11.2016, 13.12.2016,02.03.2017 & 02.05.2017 were sent the copies of which are marked as "K" collectively.

xii. The Defendant executed the necessary security documents confirming the balance of the loan accounts the authenticated photocopies of which are marked with the letter "L" collectively. xiii Again on dated 07 .08.2017 , 25.08.2017 , 31 08.2017 , 03.10 2017 and 09 10 2017 reminder cum cautioning notices were issued the copies of which are marked with letter "lVl" collectively.

xiv. The Defendants on 11.10.2017 through a letter dated 10.10.2017 requested for restructure of the loan amount the copy of which is marked with letter "N" collectively.

xv. Another set of Demand Notices were sent calling to pay a sum of Rs.72,30,817 07(Rupees Seventy Two Lakhs Thirty Thousand Eight Hundred Seventeen & Seven Paisa Only) including interest calculated upto 30.09.2017. The photocopy is marked with the letter "O".

xvi. Again the Defendant requested for restructuring the loan account on dated 17 10.2017 to which the bank replied through letter dated 17 10.2017 itself the copies of which are marked with the letter "P" collectively.

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 Defendant No.2 made an objection totheApplicant Bank vide letterdated 15.122017 lo which bank made a communication the photocopies of which is marked with Letter "Q"& "R" respectively.

4. A Demand Notice dated 19.04.2018 was issued to which an objection letter dated 26.04.2018 was issued the copies of which are marked with letters "S" & "T" respectively.

5. A Possession Notice dated 21.05.2018 was attached along with paper publications dated 24.05.2018 the copies of which are marked with letters "U" and "V" respectively.

6. 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 02.07.2024 and heard ex-parte accordingly.

7. Applicant Bank has filed the Evidence-On-Affidavitaffirmed by Ashoke Kumar Singh, 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.

8. Heard the Ld. Counsel for the Applicant Bank

9. 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.

10. The Application is within the period of limitation hence allowed.

11. Applicant Bank stated that the outstanding balance in loan Accounts is Rs.76,15,499.07(Rupees Seventy Six Lac Fifteen Thousand Four Hundred Ninety Nine and Seven Paisa Only) and interest thereon at the rate prescribed as amended from time to time compounded with monthly rests from April, 01 2018 to till the date of payment or recovery from the Defendants, which is the amount claimed by the Applicant Bank in the original Application. ln the DP Note dated 22.02.2013 & DP Note dated 19.03.2014interest rate @14.70o/o has been mentioned. The defendant is liable to repay the said amount to the Applicant Bank with pendentelite and future interest, till realization with interest @125%. lallow the claim as made by the applicant Bank @12.5%wilh quarterly rests from 01.04.2018in 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 applicationbeing T 4./348 of 2019 (arising out of O.A.1454 o'f 2018) deserves to be allowed; hence allowed.

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

ORDER

(i) T4./348 of 2019 (arising out of O.A.1454 of 2018)filed by the Applicant Bank, is allowed and debt is determined with cost against the Defendants No.1,2 & 3. lt is hereby ordered that the Defendantsare hereby directed to pay, the total debt amount of Rs.76,15,499.07(Rupees Seventy Six Lac Fifteen Thousand Four Hundred Ninety Nine and Seven Paisa Only) as calculatedupto31.03.201B with interest @12.5%o per annum, with quarterly rests from 01 .04.2018 till final realization of the entire dues is allowed.

(ii) Amount, if any, paid by the Defendants 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

Defendants. Accordingly, the pendentelife and future interest shall be calculated on the reduced amount.

(iii) The defendantsare debarred from transferring, alienating, encumbering or disposing of the mortgaged immoveable property &hypothecated moveable asset, described inthe Schedulesof this OA:- SCHEDULE "X'' (ll\/llvovABLE PRoPERTY OF THE GUARANTOR CHARGED/TVORTGAGED W|TH THE UNTTED BANK OF tNDtA) DESCRIPTION OF THE IMMOVABLE PROPERTY

1) Sale Deed No-12625 for the year 201 3, registered in the office of the D. S. R-//, North 24 Parganas, tAlesf Bengal, recorded in Book No-l, CD Volume No-46, Pages from 103 to 1 19, being No-12625 for the year 2013 and the properly located and situated at Mouza-Chaltaberia, J.L No-124, Re.Sa. No-777, Touzi No-l46, R.S Khatian No-221 and 150, L.R Khatian No-754, R.S. Dag No-1650 and 1646 under the jurisdiction of Duttapukur-2 No. Gram Panchayat, P.S-Barasat, District- North 24 Parganas, t4lest Bengal and the land measuring about 2.88 Decimals be the same or a little more or /ess along with a ground floor pucca shop measuring about 600 sq.ft and a ground floor residential building measuring about 300 sq.ff stands in the name of Sri Avijeet Paul. The aforesaid property was butted and bounded by'- On the North: Land of 1650 No.Dag On the South.' Land of 1646 No.Dag and then 20'-0" wide pucca Road On the Easf.' Land of 1649 & 1647 No.Dag On the West' Land of 1646 No.Dag

2) Sale Deed No-1264 for the year 201 3, registered in the office of the D. S. R-//, North 24 Parganas, tAlesf Bengal, recorded in Book No-l, CD Volume No-46 Pages from 87 to 102, being No-12624 for the year 2013 and the property located and situated at Mouza-Jafarpur, J.L No-136, C.S Khatian No-17, R.S.Khatian No-361, L.R.Khatian No-417 R.S.Dag No- 1182 under the jurisdiction of Kotra Gram Panchayat, P.S-Barasat, District- North 24 Parganas, Wesl Bengal and the land measuring about 16 Decimals be the same or a little more or /ess along with a ground floor pucca building (godown) measuring about 900 sq.ft stands in the name of Sri Avijeet Paul. The aforesaid properly was butted and bounded by.- On the North: Land of No. Dag On the South. Land of No. Dag and then 20'-0" wide pucca Road On the Easf. Land of No. Dag On the West: Land of No.Dag

3) Gift Deed No-00610 for the year 2009, registered in the office of the D.S.R-/, North 24 Parganas, l2llesf Bengal, recorded in Book No-|, CD Volume No-1, Pages from 8057 to 8074, being No-00610 for the year 2009 and the property located and situated at Mouza-Kaliadaha, J.L No-23, C.S Khatian No-255, C.S Dag No-1640, under the iurisdiction of Ward No-18 of South Dum Dum Municipality, Holding No- 563 of S.H.K Bose Sarani, P.S-Dum Dum, District-North 24 Parganas, West Bengal and the land measuring about 2 Cottahs 8 Chittacks be the same or a little more or /ess in which 923 sq.ft Super Built tJp ftat in the 2'd Floor of the Western side of a three storied building along with the undivided proportionate share of the land stands in the name of Sri Avijeet Paul. The aforesaid property was butted and bounded by.- On the North: Amalendu Roy and S.R Chakraborty On the South: 10 ft. Wide Common Passage On the Easf.' Land of Amal Das On the West: Jawpur Road SCHEDULE "Y" (ASSETS REIVAINING HYPOTHECATED, CHARGED AND/OR PLEDGED WITH THE UNITED BANK OF rND|A) ALL THAT the Defendant present and furniture and fixtures, goods, produce, merchandise, book debts, bills, money receiveables, plant and machineries, fools, equipments, implemenfs, spare parts, s/ores and all other assefs, rights at whichever they may be situated at including its place of busrness at 1322, SHKB Sarani, Post Office- Dum Dum Motijheel, Kolkata-700074, West Bengal, lndia or wherever the same might be are remaining hypothecated to United Bank of lndia as a sevcurity for payment of its claim. The defendantsare also debarred from transferring, alienating, encumbering or disposing any other property(s) either movable or immovable and assets belonging to them till the aforesaid adjudicated debt amount are recovered from the Defendant.

(iv) The defendantsare 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 Defendantsfails 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 Defendants both moveable and immoveable and also proceed against the Defendantspersonally to recover the dues, in accordance with law.

(v) Let the Certificate of Recovery be drawn up by Ld. Registrarforthwith in terms of Final Order / Judgment for issuance of the same against the Defendantsin favour of Z€

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 Defendants No.1, 2& 3 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 Origina! Application, being T.A./348 of 2019 (arising out of O.A.1454 of 2018)is allowed and stands disposed of. This order is dictated and corrected by the undersigned and pronounced on this the2Sth day of July 2026. Copy of the Final Order / Judgment be uploaded in the Tribunal's Website. L"; n Presiding Officer DRT-2, Kolkata kkb