PUNJAB NATIONAL BANK vs SMT SHIKHA SARKAR on 3 July 2025

1. **Smt. Shikha Sarkar**, wife of Mr. Bhajan Sarkar, residing at 1/58, Jadavgarh, Haltu, P.S.- Kasba, Kolkata – 700078.

..... Defendant

Counsel for parties:

For the Applicant Bank : Md. Amjad Ali

For the Defendant : *Ex-Parte***FINAL ORDER / JUDGMENT**

Delivered on 03.07.2025

Applicant (Punjab National Bank) erstwhile United Bank of India instituted the present Application being the Original Application No.116 of 2018 filed in DRT-3, Kolkata on 16.02.2018 against single Defendant under Section 19(1) of the Recovery of Debts & Bankruptcy Act, 1993 (amended from time to time) for recovery of Rs.11,19,086.00 (Rupees eleven lacs nineteen thousand eighty six) as on 31.01.2018 together with interest as per Bank's Prime Lending Rate (BPLR), till the actual payment or realization thereof. 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/DRAT/KOL/2018(pt.) dated 16.09.2019, such has been recorded vide Ld. Registrar, Kolkata DRT-3's Order dated 17.10.2019 and the same has been renumbered as T.A./139 of 2019 vide Ld. Registrar's order dated 02.11.2019.

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

2T.A/139 of 2019 – DRT-2/Kol

Act, 1970. In view of the merger / amalgamation of United Bank of India into Punjab National Bank, the applicant name in this case should be read / inserted as Punjab National Bank instead of United Bank of India.

3. In accordance with the Notice dated 30.07.2020 of this Tribunal, Ld. Advocate for Punjab National Bank has filed a petition being I.A./327 of 2021 dated 16.03.2021 praying for amendment of Cause Title in view of amalgamation of United Bank of India with Punjab National Bank vide G.O.I. 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 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 as set out by the Applicant Bank in its Original Application, as under:

(i) That the Defendant approached and applied the applicant Bank with the request to grant CGTMSE loan facility vide loan application dated 29.06.2011; copy of application dated 29.06.2011 is annexed and marked as Annexure 'A'. Upon consideration of Application, Applicant Bank was pleased to grant / sanction a credit facility to the limit of Rs.11,89,000/- (Rupees eleven lacs eighty nine thousand) in favour of the defendant, for the purchase of Bus, vide letter of sanction dated 25.07.2011 which is duly accepted by the defendant; copy of sanction letter dated 25.07.2011 is annexed and marked as Annexure 'B'.

(ii) In consideration of the aforesaid credit facility of Rs.11.89 lakhs, the defendant executed the following security documents in favour of applicant Bank, as under:-

- (a) Hypothecation of transport Equipment dated 25.07.2011;

- (b) Hypothecation of Debts & Movable Assets dated 25.07.2011;

- (c) Letter of Lien dated 25.07.2011;

- (d) Demand Promissory Note dated 25.07.2011 & 22.08.2014;

- (e) Link Letter dated 22.08.2014;

- (f) Text of Consent Clause;

- (g) Balance Confirmation dated 29.12.2016;

- (h) Documents related with hypothecated vehicles.

Copy of said documents are annexed and collectively marked as Annexure 'C',

5. The Defendant enjoyed the said credit facility by opening Account in Bank's Jadavpur Branch, 24, Raja S.C. Mallick Road, Kolkata – 700032. 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. Inspite of repeated requests made by the applicant Bank, the defendant failed to regularize the loan Account. Since the defendant did not pay any attention to regularize the Account, the Account became out of order and was classified as N.P.A. Thereafter, Applicant Bank issued a demand notice dated 05.02.2018 upon the defendant through its Advocate demanding to repay the outstanding loan amount, but the defendant did not comply the said notice; copy of notice dated 05.02.2018 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 filed to show and prove the dues (Annexure 'E'), and future interest at contractual rate, i.e. @ 16.04% per annum with monthly rests, till realization in full, has been prayed. Applicant Bank submitted that their claim in the Application is within limitation.

6. The Notice / summons was sent to the sole Defendant by the Tribunal; service of Notice / summons upon the Defendant by postal service has been successfully completed, such has been recorded vide Ld. Registrar's order dated 08.08.2023. Despite service, the defendant did not appear nor filed the written statement; thus, the defendant was ordered to be proceeded *ex-parte* vide order dated 15.05.2024. Applicant Bank has filed the written notes of arguments dated 08.08.2024 wherein stated the brief facts of the case as has been narrated in the original application. Ld. Advocate of the applicant Bank has submitted arguments on 08.08.2024.

7. Applicant Bank has filed the evidence-on-affidavit affirmed by Sumesh Kumar Oraon, Branch Manager of erstwhile Bank's Jadavpur Branch, 24, Raja S.C. Mallick Road, Kolkata – 700032 along with the copies of original documents executed by the Defendant. 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 to Sri Deepak Kujur, Senior Manager of erstwhile Bank's Jadavpur Branch, 24, Raja S.C. Mallick Road, Kolkata – 700032 on 26.02.2019, such has been recorded in Ld. Registrar, DRT-3's order dated 26.02.2019. The documents produced by the applicant Bank are exhibited and annexed as Exhibit I to XII.

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, unrebutted 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 loan facility to the limit of Rs.11.89 lakhs. Applicant Bank has proved the hypothecated movable asset – Vehicle; described in Schedule at page 10 and para 3A at page 7 & 8 of the original application.

9. On the point of limitation, Loan has been sanctioned on 25.07.2011; documents have been executed on 25.07.2011 & 22.08.2014; original Application has been filed on 16.02.2018. Further, the defendant has admitted and acknowledged her liability by executing Balance Confirmation Letter 29.12.2016 acknowledging the outstanding balance in loan Account. As such, the original Application appears to have been filed well within the period of limitation.

10. Applicant Bank stated that the outstanding balance in loan Account (inclusive of accrued interest and other charges as calculated upto 31.01.2018) is **Rs.11,19,086.00** (Rupees eleven lacs nineteen thousand eighty six) as on 31.01.2018, which is the amount claimed by the applicant Bank in the original Application, and the sole defendant is liable to repay the said amount to the applicant Bank with *pendente lite* and future interest, till realization of entire dues. I allow the claim as made by the applicant Bank in the original Application. Applicant Bank has prayed future interest at the contractual rate, i.e. @ 16.04% per annum with monthly rests from 01.02.2018, while in Letter of Sanction dated 25.07.2011 the rate of interest @ 13.75% per annum, has been mentioned. Therefore, in my view, the *pendente lite* & future rate of interest @ 13.75% per annum, with quarterly rests, from 01.02.2018, is allowed.

11. The matter also falls within the territorial as well as pecuniary jurisdiction of this Tribunal. The Applicant Bank has proved to claim made in the O.A. Hence, the O.A./T.A. being T.A./139 of 2019 (arising out of O.A./116 of 2018) deserves to be allowed; hence allowed.

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

ORDER

(i) T.A./139 of 2019 (arising out of O.A./116 of 2018), filed by the applicant Bank, is allowed and debt is determined with cost against the Defendant. It is hereby ordered that the Defendant is hereby directed to pay the total debt amount of **Rs.11,19,086.00** (Rupees eleven lacs nineteen thousand eighty six) due and payable, inclusive of interest and other charges as calculated upto 31.01.2018; and interest for the period *pendente lite* and future rate @ 13.75% per annum, with quarterly rests, from 01.02.2018, 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 is debarred from transferring, alienating, encumbering or disposing of the hypothecated movable assets – vehicle, described in Schedule at page 10 and para 3A at page 7 & 8 of the original application; "Vehicle – Bus, Registration No. WB 19E 8563, VE Commercial Vehicles Ltd., Engine No. E483cdbf537933, Chasis No. MC217LRTOBG229790."

The Defendant is also debarred from transferring, alienating, encumbering or disposing of any other property(s) either movable or immovable assets belonging to her 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. In 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.

(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 sole 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./139 of 2019 (arising out of O.A./116 of 2018) is allowed and stands disposed of.**

This order is dictated and corrected by the undersigned and pronounced on this the 03^rd day of July, 2025.

Copy of the Final Order / Judgment be uploaded in the Tribunal's Website.

(Arbind Madhav) Presiding Officer DRT-2, Kolkata

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