STATE BANK OF INDIA vs SRI MRIGANKA CHAKRAVARTY on 15 September 2025

1. **Sri Mriganka Chakravarty**, Son of Uttam Chakravarty, residing at premises No.6/30 Vivekananda Park, Near Vidyaniketan School, Bansdroni, P.S.- Regent Park, Kolkata – 700070, South 24-Parganas, and also at Microsoft Corporation, Bachawat House, 2, Upper Wood Street, Kolkata-700017.

..... Defendant

Counsel for parties:

<table border="0"> <tr> <td>For the Applicant Bank</td> <td>: Mr. Pankaj Kr. Mukherjee &amp; Mr. Subir Kr. Bera</td> </tr> <tr> <td>For the Defendant</td> <td>: <i>Ex-Parte</i></td> </tr> </table>

**FINAL ORDER / JUDGMENT**

Delivered on 15.09.2025

Applicant, State Bank of India (formerly State Bank of Bikaner & Jaipur), instituted the present Application being the Original Application No. O.A./687 of 2018 filed in DRT-3, Kolkata on 14.08.2018 against single Defendant under Section 19(1) of the Recovery of Debts & Bankruptcy Act, 1993 (amended from time to time) for realization of Rs.25,67,037.00 (Rupees twenty five lakhs sixty seven thousand thirty seven) including interest upto 27.04.2018 and further interest from 28.04.2018 computable at the agreed rate, from the date of institution of the instant application, till realization of the amount due. 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 30.10.2019 and the same has been renumbered as T.A./216 of 2020 vide Ld. Registrar's order dated 22.11.2019.

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

(i) The defendant made an application for Home Loan facility in the Jodhpur Park Branch of State Bank of Bikaner & Jaipur applicant for purchasing a residential flat and one car parking space vide loan Application dated 15.01.2014; copy of said Housing Loan Application dated 15.01.2014 is annexed and marked with Annexure 'A-1'. Pursuant to the said request, Jodhpur Park Branch of State Bank of Bikaner & Jaipur was pleased to grant / sanction one Housing / Term Loan of Rs.24,00,000.00 (Rupees twenty four lakhs) in favour of the defendant vide Arrangement Letter dated 08.02.2014. Copy of Bank's Letter of Sanction dated 08.02.2014 is annexed and marked with Annexure 'A-2'. It has been made out that although Jodhpur Park Bank Branch of State Bank of Bikaner & Jaipur is connected with the transaction of this case but of late for administrative policy the said State Bank of Bikaner & Jaipur merged with the State Bank of India as per the Gazette of India notification dated 22.02.2017 with effect from 01.04.2017.

(ii) In consideration of the aforesaid home loan facility of Rs.24.00 lakhs, the defendant executed and delivered the following loan documents in favour of applicant Bank:

- (a) Memorandum of Term Loan Agreement for Housing Loan dated 08.02.2014;

- (b) Letter of the Defendant regarding Affidavit of Declaration and indemnity notarized on 26.06.2014.

Copy of said documents are annexed and marked with Annexures 'A-3' & 'A-4' respectively.

(iii) In order to secure the repayment of the outstanding Term Loan facility, the defendant created equitable mortgage in respect of his immovable property, morefully described in Schedule 'X' at page 106 and para 3A at page 5 to 7 of the original application, by deposit of Deed of Conveyance being No.00984 for the year 2014 with the applicant Bank. To that effect, the defendant executed and delivered a Letter dated 08.02.2014 confirming creation of equitable mortgage by deposit of the said Deed of Conveyance in favour of applicant Bank; also the defendant has executed a Letter of Agreement to Mortgage dated 08.02.2014 and Valuation Report dated 15.03.2018 of the mortgaged property.

Copy of said documents are annexed and marked as Annexures "A-3" to "A-8" respectively.

3. The Defendant availed and enjoyed the said Housing / Term Loan facility by opening Account in erstwhile Bank's Jodhpur Park Branch, 71, Jodhpur Park, Kolkata – 700068. However, the defendant failed and neglected to abide by the terms and conditions of the facility. The Defendant did not repay the agreed EMI's and overdue

interests in loan Account; he has stopped transaction in the Term Loan Account since long. Inspite of repeated requests and personal contact made by 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. on 30.04.2017. Thereafter, applicant Bank finding no other alternative issued a demand notice dated 07.03.2018 upon the defendant by its Advocate demanding payment of a sum of Rs.25,30,772/- inclusive of accrued interest calculated upto 03.03.2018, but the defendant did not comply the said notice; copy of said Advocate's notice dated 07.03.2018 is annexed and marked with letter 'A-9'. However, the defendant admitted and confirmed his indebtedness by executing one Revival Letter dated 20.01.2017 in favour of applicant Bank acknowledging the outstanding balance in loan Account(s); copy of said Revival Letter dated 20.01.2017 is annexed and marked with Letter 'A-11'. Certified copies of Statement of Account along with Certificate under Bankers' Books of Evidence Act, with interest calculation sheet and statement of claim, have been filed to show and prove the dues (Letter 'A-10', and future interest computable at the agreed rate, till realization of the amount found due, has been prayed. Applicant Bank submitted that their claim in the Application is within limitation.

4. The notice / summons was sent to the Defendant by the Tribunal. It is seen from the affidavit of service dated 17.06.2023 that service of Notice / summons by postal service has not been successfully effected upon the Defendant, such has been recorded vide Ld Register's order dated 21.09.2023. At the request of Ld. Advocate of the applicant Bank, Ld. Tribunal was directed to serve the summons / notice upon the defendant by way of paper publication; and Ld. Advocate of the applicant Bank has brought on record the affidavit of service on publication dated 07.02.2024 along with relevant portion of paper cuttings in two newspapers, namely (i) 'The Indian Express' in English and (ii) 'Bartaman' in Bengali, both dated 20.10.2023, such has been recorded vide Ld. Registrar's order dated 29.02.2024. 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 26.06.2024. Ld. Advocate of the applicant Bank has submitted argument on 19.08.2025.

5. Applicant Bank has filed the evidence-on-Affidavit affirmed by Sudhansu Kumar Biswas, Chief Manager of Bank's Stressed Assets Recovery Branch (SARB), South Bengal, Jeevan Deep Building, Kolkata – 700071 along with the copies of original documents executed by Defendant. Original documents have been produced by 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 Mr. S Sharma, Manager, SARB, South Bengal, Kolkata on 17.08.2022, such has been recorded in Ld. Registrar's order dated 17.08.2022. The documents produced by applicant Bank are exhibited and annexed at 'A-1' to 'A-11'.

I have heard the Ld. Advocate of the applicant Bank and perused the records.

6. Evidence-on-affidavit, filed by applicant Bank, has remained unchallenged, unrebuted 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 Housing / Term Loan facility of Rs.24.00 lakhs vide Arrangement letter dated 08.02.2014. Applicant Bank has proved the mortgaged immovable property of the defendant; described in Schedule 'X' at page 106 and para 3A at page 5 to 7 of the original application.

7. On the point of limitation, Loan has been sanctioned on 08.02.2014; loan documents have been executed on dated 08.02.2014 & 26.06.2014 and original Application has been filed on 14.08.2018. The defendant admitted his debt & liabilities by executing one Revival Letter dated 20.01.2017 in favour of applicant Bank confirming the outstanding balance in loan Account; as such, the original Application appears to have been filed well within the period of limitation.

8. Applicant Bank stated that the outstanding balance in Housing / Term Loan Account (inclusive of accrued interests and other charges as calculated upto 27.04.2018) is **Rs.25,67,037.00** (Rupees twenty five lakhs sixty seven thousand thirty seven) as on 27.04.2018, which is the amount claimed by 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 applicant Bank in the original Application. Applicant Bank has prayed future interest from 28.04.2018 computable at the agreed rate from the date of institution of the instant application, till realization of the amount found due, while in the Arrangement Letter dated 08.02.2014 the rate of interest @ 10.25% per annum with monthly rests, has been mentioned. It is observed that the defendant has taken the loan for house building purposes; therefore, in my view, the *pendente lite* & future rate of interest @ 10.25% per annum, simple, from 28.04.2018, till realization in full, is allowed.

9. The matter also falls within the territorial as well as pecuniary jurisdiction of this Tribunal. Applicant Bank has proved its claim made in the O.A. The original application being T.A./216 of 2020 (arising out of O.A./687 of 2018) deserves to be allowed; hence allowed.

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

**ORDER**

(i) T.A./216 of 2020 (arising out of O.A./687 of 2018) filed by 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.25,67,037.00** (Rupees twenty five lakhs sixty seven thousand thirty seven) due and payable, inclusive of interest and other charges as calculated upto 27.04.2018; and interest for the period *pendente lite* and future @ 10.25% per annum, simple, from 28.04.2018, 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 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) Defendant is debarred from transferring, alienating, encumbering or disposing of the mortgaged immovable assets; described in Schedule 'X' at page 106 and para 3A at page 5 to 7 of the original application, as under –

Mortgaged Immovable Property:

*"ALL THAT one residential flat being no.11, 03^rd Floor, measuring more or less 850 sq.ft. along with 1 (one) open Car parking space measuring more or less 100 sq.ft on the Ground Floor situated at Mouza – Brahmapur, J.L No.48, Dag No.642, Khatian No.117, Touzi No.60, KMC. Premises No.653, N.S.C Rabindra Pally (B-25 Rabindra Pally), P.O.- Bath Talla, P.S.- Regent Park, under Ward No.111, Kolkata – 700096, District- South 24 Parganas*

*This property was purchased by Sri Mriganka Chakravarty by a registered Deed of Conveyance being No.00984 for the year 2014."*

(iv) 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. In case the Defendant fails to pay the dues within the above mentioned time, 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 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 and put up the same for signature for issuance.

(vi) Ld. Recovery Officer shall realize the amount as per the Recovery Certificate from 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./216 of 2020 (arising out of O.A./687 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 15^th day of September, 2025.

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

*Arbind Madhav* (Arbind Madhav) Presiding Officer DRT-2, Kolkata

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