PUNJAB NATIONAL BANK vs AMARENDRA NATH MAITY on 16 September 2025

Page.No.

KOLKATA DEBTS RECOVERY TRIBUNAL NO. 2

ORDER SHEET

(Continuation)

T.A./19 of 2019

Punjab National Bank

Case No. \_\_\_\_\_

Vs

Amarendra Nath Maity

<table border="1"> <thead> <tr> <th data-bbox="133 193 208 258">Date of Order</th> <th data-bbox="208 193 775 258">Order with Signature</th> <th data-bbox="775 193 901 258">Office action with date and dated Signature of parties when necessary</th> </tr> </thead> <tbody> <tr> <td data-bbox="102 258 208 920"> 33<br/> 16.09.2025 </td> <td data-bbox="208 258 775 920"> <p>Counsel for the parties:</p> <p>Ms. Gitasree Chattopadhyay, Ld. Advocate representing</p> <p>Ms. Madhupurna Ghosh, Ld. Advocate for the applicant Bank.</p> <p>None for the defendant.</p> <p>T.A./19 of 2019 (arising out of O.A./55 of 2018) is allowed and disposed of.</p> <p>Final order / Judgment is in separate sheet of 5 pages.</p> <p>File be consigned to record room.</p> <p>Order be uploaded on the Tribunal's website.</p> <div style="text-align: right; margin-top: 20px;"> <br/> (Arbind Madhav)<br/> Presiding Officer<br/> DRT-2, Kolkata </div> </td> <td data-bbox="775 258 901 920"></td> </tr> </tbody> </table>

1

T.A./19 of 2019 – DRT-2/Kol

**DEBTS RECOVERY TRIBUNAL - 2, KOLKATA**

Jeevan Sudha Bldg. 07^th Floor, 42/C, J.L. Nehru Road, Kolkata – 700071

**Before Shri Arbind Madhav, Presiding Officer**

**T.A. No. 19 of 2019** (arising out of O.A./55 of 2018)

**In the matter of** -

**Punjab National Bank**, 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*, at Vill.- Amtala, Diamond Harbour Road, P.O.- Kanyanagar, P.S.- Bishnupur, South 24-Parganas, Pin – 743398, known as 'Amtala Branch'.

..... Applicant Bank

-Versus-

**1. Amarendra Nath Maity**, 258/C, Amritlal Mukherjee Road, Kolkata – 700008.

..... Defendant

Counsel for parties:

For the Applicant Bank : Ms. Madhupurna Ghosh For the Defendant : *Ex-parte*.

**FINAL ORDER / JUDGMENT**

Delivered on 16.09.2025

Applicant, Punjab National Bank instituted the present Application being the Original Application No.55 of 2018 filed in DRT-3, Kolkata on 19.01.2018 against single Defendants under Section 19(1) of the Recovery of Debts & Bankruptcy Act, 1993 (amended from time to time) for recovery of Rs.20,68,944.00 (Rupees twenty lacs sixty eight thousand nine hundred forty four) with interest calculated upto 31.12.2017 and further interest @ 11.15% per annum with monthly rests from 01.01.2018 along with agreed penal interest till full and 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/DRAT/KOL/2018(pt.) dated 16.09.2019, such has been recorded vide Ld. Registrar, Kolkata DRT-3's Order dated 15.10.2019 and the same has been renumbered as T.A./19 of 2019 vide Ld. Registrar's order dated 24.10.2019.

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

(i) On the basis of an application made by the defendant on dated 06.09.2014 for availing Term Loan facility for his transport business; copy of loan application dated

06.09.2014 is annexed and marked as Annexure 'A'. Upon consideration of Loan Application, applicant Bank was pleased to grant / sanction a Term Loan facility to the limit of Rs.19,60,000.00 (Rupees nineteen lacs sixty thousand) in favour of the defendant by letter of terms and conditions dated 10.11.2014; copy of said Letter of terms and conditions dated 10.11.2014 duly accepted by defendant and the same is annexed and marked with Letter 'B'. At the relevant point of time, the effective rate of interest was @ 10.25% per annum. The said loan was to be repaid in 58 EMIs of Rs.45,000/- each. The vehicle so purchased and the tools, equipments etc. shall remain hypothecated to the applicant Bank by way of first charge as security for the loan. The said facility was to be covered under CGTMSE guarantee.

(ii) In consideration of the said sanction of Rs.19.60 lakhs, the defendant executed the following security documents in favour of applicant Bank, as under:- (a) Hypothecation Agreement (For road transport operator and other commercial vehicle) dated 10.11.2014; (b) Letter dated 08.01.2015 (declaration of hypothecation).

Copy of said documents are annexed and marked with Letters 'C' & 'D'.

(iii) The defendant used and utilized the said loan for the purpose of purchase of said vehicle being Ashok Leyland Make, Model No. ALPSV 4/186 Bus and Registration No. WB-19-G-6809. The said vehicle was insured by National Insurance Co. Limited. Insured declared value of the value is Rs.11,20,000/-. Copy of Certificate of Insurance is annexed and marked with Letter 'E'.

(iv) The defendant executed a balance and security confirmation letter dated 31.01.2017 acknowledging the debt & liability for repayment of loan. Copy of said balance & security confirmation dated 31.01.2017 is annexed and marked with Letter 'F'.

3. The Defendant enjoyed the said credit facility by opening Account in Bank's Amtala Branch, P.O.- Kanyanagar, South 24-Parganas. 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. on 06.07.2017. Since the defendant failed and neglected to repay the outstanding Bank's due, the applicant Bank compelled to issue demand notice dated 04.01.2018 upon the defendant calling upon him to pay the outstanding loan amount, but the defendant did not pay any interest to repay the Bank's dues, copy of said demand notice dated 04.01.2018 is annexed and marked with Letter 'I'. 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 'G' & 'H'), and future interest @ 11.15% per annum with monthly rests, from 01.01.2018 along with agreed penal interest, till full and final realization, has been prayed.

Applicant Bank submitted that their claim in the Application is within limitation.

4. The Notices / summons were sent to the Defendant by Ld. DRT-3; service of Notice / summons upon the Defendant by postal service has been successfully completed and the defendant appeared through Ld. Advocate on 27.03.2018. It is seen from order dated 31.01.2018 that Ld. Tribunal was appointed a special officer to take physical possession of the commercial vehicle and keep the same in safe custody. The defendant has filed an I.A. being I.A./351 of 2018 dated 24.03.2018 praying to recall the Ld. Tribunal's order dated 31.01.2018. The prayer of I.A./351 of 2018 is considered vide order dated 27.03.2018 and the said defendant was directed to pay Rs.2.50 lacs and defendant was also directed to submit a concrete proposal before the Bank for repayment of balance dues, and applicant Bank was directed to defer taking physical possession of the vehicle till further orders. An I.A. being I.A./826 of 2018 dated 18.09.2018 has been filed by applicant Bank for recalling the order of the Tribunal dated 27.03.2018. In the said I.A. it has been submitted that according to the order passed by Ld. Tribunal on 27.03.2018 the defendant has deposited Rs..2.50 lacs and submitted a proposal to pay Rs.50,000/- within 30.07.2018 and balance Rs.5,25,000/- within three months of equal instalments; however, the first cheque of Rs.50,000/- was dishonoured, for which appropriate proceeding has been initiated before appropriate forum, and the applicant Bank intends to take physical possession of the hypothecated vehicle. The said I.A./826 of 2018 was allowed and disposed of vide order dated 12.09.2019 and applicant Bank was allowed to take over the physical-possession of the hypothecated Bus bearing No.ALPSV4/186. But despite direction the defendant did not file the written statement; hence, the write to file W.S. was closed vide order dated 12.09.2019. Thereafter, this case is transferred to this Tribunal and renumbered as T.A./19 of 2019 vide Ld. Registrar's order dated 24.10.2019. An I.A. being I.A./782 of 2019 dated 02.12.2019 has been filed applicant Bank praying for appointing an officer of applicant Bank to act as Special Officer to take physical possession of hypothecated vehicle. The said I.A./782 of 2019 was allowed and disposed of vide order dated 16.12.2019 and applicant Bank was directed to file an affidavit indicating compliance of order dated 12.09.2019. The notice / summons was sent to the defendant from this Tribunal and service is complete upon the sole defendant by postal service, such has been recorded vide Ld. Registrar's order dated 27.09.2023. Despite service from this Tribunal, the defendant did not appear nor filed the written statement; thus, the defendant was ordered to be proceeded *ex-parte* vide order dated 10.06.2024. Applicant Bank has filed the written notes of arguments dated 19.08.2025 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 19.08.2025.

5. Applicant Bank has filed the evidence-on-affidavit affirmed by Nilotpal Das, Branch Manager of Bank's Amtala Branch, P.O.- Kanyanagar, Bishnupur, Dist.- South 24-Parganas along with the copies of original document executed by the 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. Súdip Purkait, Senior Manager of Bank's Amtala Branch, P.O.- Kanyanagar, Bishnupur, Dist.- South 24-Parganas on 16.05.2023, such has been recorded in Ld. Registrar-in-charge's order dated 16.05.2023. The documents produced by applicant Bank are exhibited and annexed at 1 to 9.

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

6. 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 Term Loan facility of Rs.19.60 lakhs. Applicant Bank has proved the hypothecated movable assets – Bus, morefully described in Schedule at page 21 and para III.A at page 8 & 9 of the O.A.

7. On the point of limitation, Loan has been sanctioned on 10.11.2014; documents have been executed on 10.11.2014 & 08.01.2015 and original Application has been filed on 19.01.2018. Further, the defendant admitted and acknowledged his debt & liability by executing Balance and Security Confirmation Letter dated 31.01.2017 acknowledging the outstanding balance in loan Account(s). 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 loan Account (inclusive of accrued interest and other charges as calculated upto 31.12.2017) is **Rs.20,68,944.00** (Rupees twenty lacs sixty eight thousand nine hundred forty four) as on 31.12.2017, 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 @ 11.15% per annum with monthly rests from 01.01.2018 along with agreed penal interest till full and final realization, while in terms and condition of the said loan dated 10.11.2014 the rate of interest @ 10.25% per annum, has been mentioned. Therefore, in my view, the *pendente lite* & future rate of interest @ 10.25% per annum, with quarterly rests, from 01.01.2018, is allowed.

9. 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./19 of 2019 (arising out of O.A./55 of 2018) deserves to be allowed; hence allowed.

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

ORDER

(i) T.A./19 of 2019 (arising out of O.A./55 of 2018), filed by the applicant Bank, is allowed and debt is determined with cost against the sole Defendant. It is hereby ordered that the Defendant is hereby directed to pay the total debt amount of **Rs.20,68,944.00** (Rupees twenty lacs sixty eight thousand nine hundred forty four) due and payable, inclusive of interest and other charges as calculated upto 31.12.2017; and interest for the period *pendente lite* and future rate @ 10.25% per annum, with quarterly rests, from 01.01.2018, 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) The defendant debarred from transferring, alienating, encumbering or disposing of the hypothecated movable assets, as under –

*"Model ALPSV4 / 186, Bus (Diesel), Maker Ashok Leyland Ltd., Engine No.EVPZ14410, Chassis No.MB1PBEYC4EPTK9733, Registration number WB-19-G-6809 and Accessories at 258/C, Amritlal Mukherjee Road, Kolkata – 700008 or wherever the hypothecated securities are situated."*

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. 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 immovable 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 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 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./19 of 2019 (arising out of O.A./55 of 2018) is allowed and stands disposed of.**

This order is dictated and corrected by the undersigned and pronounced on this the 16^th day of September, 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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