Punjab National Bank vs SANKAR GHOSH on 7 September 2026

Page.ilo. KOLKATA EEBTS REGOVERY TRIBUNAL NO" 2 ORPER AHEET (Contnufton) Ca lb. oGo Dd. tbdu Ord.l ffimol ,fEtrr " ntc.staf, T.A./657 ot 2020 d

07.09.2026 Counsel for the parties: Ms. Rumpa Ghosh, Ld. Advocate for the applicant Bank. None for the defendant. T.A./657 of 2020 (arising out of O.A./82S of 2018) is I and dispbsed 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 G (Arbind IVadhav) Presiding Officer DRT-2, Kolkata Punjab National Bank (erstwhile United Bank of lndia) Sankar C'rrUlfr ord.ruilt ggn trrr

T.A./657 of 2O2O - DRT-2/Kol DEBTS RECOVERY TRIBUNAL .2, KOLKATA Jeevan Sudha Bldg. 07th Floor, 421C, J.L. Nehru Road, Kolkata -700071 Before Shri Arbind Madhav, Presidinq Officer T.A. No.657 of 2020 (arising out of O.A./825 of 2018) 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 Delhi - 110075, and carrying on Banking business, inter-alia, through its Dumdum Branch, at 1, Rashtraguru Avenue, Kolkata -700028. ..... Applicant Bank -Versus- Sankar Ghosh, son of Haripada Ghosh, residing atP-231, Bangur Avenue, Block- 'B', Flat No.1/8, Kolkata - 700055. Defendant

Counsel for parties: For the Applicant Bank For the Defendants Ms. Rumpa Ghosh Ex-Parte FINAL ORDER / JUDGM ENT Delivered on 07 .09.2026 Applicant (Punjab National Bank) erstwhile United Bank of lndia instituted the present Application being the Original Application No.825 of 2018 filed in DRT-3, Kolkata on 15. 10.2018 against single Defendant under Section 19(1) of the Recovery of Debts & Bankruptcy Act, 1993 (amended from time to time) for recovery of Rs.15,27,755.64 (Rupees fifteen lakh twenty seven thousand seven hundred fifty five and paise sixty four) as on 30.09.2018 with further interest @ 12.45% per annum (floating), with quarterly rests, from the date of institution of the instant application, till final realization. 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/DRATlKOLl2018(pt.)dated 16.09.2019, such has been recorded vide Ld. Registrar, Kolkata DRT-3's Orderdated 30.10.2019 and the same has been renumbered as T.A.t657 of 2O2O vide Ld. Registrar's order dated 09.12.2020. .6

T.A.1657 ol2020 - DRT-2/Kol

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 Gazette of lndia in terms of Section 9 of the Banking Companies (Acquisition and Transfer of Undertaking) 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 I inserted as Punjab National Bank instead of United Bank of lndia.

3. ln accordance with the Notice dated 30.07.2020 of this Tribunal, Ld. Advocate for Punjab National Bank has filed a petition being l.kn48 of 2021dated 05.08.2021 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 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 23. 12.2021, such has been recorded in Ld. Registrar's order dated 23.12.2021 .

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

(i) The defendant had approached and applied to the applicant Bank for availing loan to purchase a Bus. The defendant was further requested to furnish relevant documents in support of his credibility. Upon detailed enquiry and verification, applicant Bank being satisfied with the credibility of the defendant pleased to grant / sanction the credit facility to the limit of Rs.14,00,000/-(Rupees fourteen lakh) in favour of defendant vide sanction letter dated 26.09.2013. Copy of loan application Form dated 25.08.2013 and sanction letter dated 26.09.2013 are annexed and collectively marked as Annexure 'A'.

(ii) ln consideration of the aforesaid credit facility of Rs.14.00lakh, the defendant duly executed the following loan documents all dated 26.09.2013 in favour of applicant Bank:

(a) Demand Promissory Note for Rs.14.00 lakh; (b) Deed of Hypothecation;

(c) Letter of Lien. Copy of said documents are annexed and collectively marked as Annexure 'B'. S. The Defendant enjoyed the said credit facility by opening Account in erstwhile Bank's Dumdum Branch, 1, Rashtraguru Avenue, Kolkala - 700028. 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 the loan Account. lnspite of repeated requests made by applicant Bank, ihe defendant failed to regularize the loan Account. Since the defendant did not pay airy attention to regularize the Account, the Account became out of order and was ";rssified as N. P.A. Subsequently, applicant Bank issued demand notice dated 03.06.2015 uporr the defendant calling upon him to make payment of the outstanding Bank's dues, but the defendant did not comply the said notice; copy of said notice dated 03.06.2015 is annexed and marked asAnnexure ,C,. Certified copies of Statement of Account along with Certificate under Bankers' Books

T.4./657 of 2020 - DRT-2/Kol of Evidence Act, with interest calculation sheet, have been filed to show and prove the dues (Annexure 'D'), and interest @ 12.45% per annum (floatlng) with quarterly rests, from the date of institution of the instant application, till final realization against the defendant, has been prayed. Applicant Bank submitted that their claim in the Application is within limitation.

6. The notice / summons was sent to the sole Defendants by the Tribunal. lt is observed from S/R on affidavit dated 21 .11 .2022 and its enclosure that service of Notice upon the Defendant is successful, and the defendant appeared through Ld. Advocate on 22.11.2022, such has been recorded vide Ld. Registrar's order dated 22.11.2022. After 22.11.2022 the defendant did not appear nor filed the written statement; thus, the defendant was ordered to be proceeded ex-parfe vide order dated 02.09.2024. Ld. Advocate of the applicant Bank has filed the written notes of argument on dated 09.04.2024, wherein stated the brief facts of the case as has been narrated in the original application. Ld. Advocate of the applicant Bank has submitted argument on 15.07.2026.

7. Applicant Bank has filed the Examination-in-Chief on Affidavit / evidence-on- affidavit affirmed by Debashis Bhattacharya, Branch [Vlanager of erstwhile Bank's Dumdum Branch, 1, Rashtraguru Avenue, Kolkata - 700028 along with the copies of original documents executed by Defendant. Original documents have been produced by the applicant Bank; the same have been verified with copies of documents annexed with O.A. and after verification the originaldocuments have been returned to tt/lr. Niladri Sikder, Asstt. [Vlanager of Bank's Dumdum Branch, Kolkata - 700028 on 14.07.2022, such has been recorded in Ld. Registrar's order dated 14.07.2022. The documents produced by applicant Bank are exhibited and annexed at Exhibit 'A-1' to 'A-4'. 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, un- rebutted 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 credit facility for purchase a vehicle - Bus of Rs.14.00 lakhs vide sanction letter dated 26.09.2013. Applicant Bank has proved the hypothecation of movable assets - Bus, morefully described in para lll.A at page 5 of the O.A. g. On the point of limitation, Loan has been sanctioned on 26.09.2013; loan documents have been executed on 26.09.2013; original Application has been filed on 15.10.201g. Upon scrutinizing the statement of Account, it is seen that the Cefendant has made payment / deposit to the applicant Bank for an amount of Rs.75'00C1 (by cash) in loan Account on dated 22.06.2017 confirming the outstanding balance irt loan Account(s); as such, the original Application appears to have been filed well 'arithin the period of limitation. a

T.4.1657 of 2020 - DRT-2/Kol

10. Applicant Bank stated that the outstanding balance in vehicle loan Account (inclusive of accrued interests and other charges as calculated upto 30.09.2018) is Rs.15,27,755.64 (Rupees fifteen lakh twenty seven thousand seven hundred fifty five and paise sixty four) as on 30.09.2018, which is the amount claimed by the applicant Bank in the original Application, and the defendant is liable to repay the said amount to the applicant Bank with pendente lite and future interest, till realization. I allow the claim as made by the applicant Bank in the originalApplication. Applicant Bank has prayed further interest @ 12.45o/o per annum (floating) with quarterly rests from the date of institution of the instant application, tillfinal realization; while in sanction letter and Demand Promissory Note dated 26.09.2013, there are no rate of interest has been mentioned. Therefore, in my view, the pendente lite & future rate of interest @ 12.45o/o per annum, with quarterly rests, from 01 .10.2018, is allowed.

11. The matter also falls within the territorial as well as pecuniary jurisdiction of this Tribunal. Applicant Bank has proved to claim made in the O.A./T.A. The T.A. being T.A.1657 of 2020 (arising out of O.A.1825 of 2018) deserves to be allowed; hence allowed. '12. ln view of the above, I pass the following order :-

ORDER

(i) T.A./657 of 2020 (arising out of O.A.1825 of 2018), filed by applicant Bank, is allowed and debt is determined with cost against the sole Defendant. lt is hereby ordered that the Defendant is hereby directed to pay the total debt amount of Rs.15,27,755.64 (Rupees fifteen lakh twenty seven thousand seven hundred fifty five and paise sixty four) due and payable, inclusive of interest and other charges as calculated upto 30.09.2018; and interest for the period pendente lite and future rate @ 12.45% per annum, with quarterly rests, from 01 .10.2018, till realization of the entire sum due and recoverable.

(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 pendente lite and future interest shall be calculated on the reduced amount.

(iii) The defendant debarred from transferring, alienating, encumbering or disposing of the hypothecated movable assets - Bus; para lll.A at page 5 of the original application, as under - Hypothecated Movable Assets : "TATA Bus bearing Regn. No. WB-07J-0047, engine No. 4!7TC41GWY836258' Chassis No. MATi14oo3D7G22122 in the name of Sankar Ghosh'" 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'

T.A./657 of 2020 - DRT-2/Kol

(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 property(s), as aforesaid. Applicant Bank is also entitled to proceed against personal property(s) of the Defendant both moveable 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) of the Recovery of Debts and Bankruptcy Act, 1993 (amended from tlme 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 Original Application, being T.A./657 of 2020 (arising out of O.A./825 of 2018) is allowed and stands disposed of. This order is dictated and corrected by the undersigned and pronounced on this the 07th day of September,2026. Copy of the Final Order / Judgment be uploaded in the Tribunal's Website. lr- lv (Arbind IMa Presiding Officer DRT-2, Kolkata tb