STATE BANK OF INDIA vs SRI BIMAL SAHA on 28 October 2025

1. **Sri Bimal Saha**, son of Sri Nil Kanto Saha, residing at 5/H/2/3, Block – CC, Sector-I, Salt Lake, Kolkata – 700064.

..... Defendant

Counsel for parties:

For the Applicant Bank : Mr. Hari Charan Yadav For the Defendant : *Ex-Parte***FINAL ORDER / JUDGMENT**

Delivered on 28.10.2025

Applicant, State Bank of India instituted the present Application being the Original Application No.650 of 2018 filed in DRT-3, Kolkata on 01.08.2018 against single Defendant under Section 19(1) of the Recovery of Debts & Bankruptcy Act, 1993 (amended from time to time) for recovery of **Rs.22,23,149.10** (Rupees twenty two lacs twenty three thousand one hundred forty nine and paise ten) upon calculation of interest upto 30.06.2018 with monthly rests, jointly and severally, from 01.07.2018 @ 12.65% per annum, 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 28.10.2019 and the same has been renumbered as T.A./ 328 of 2020 vide Ld. Registrar's order dated 11.06.2020.

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

(i) The defendant is engaged in transport business. The defendant made an application before State Bank of Travancore, Bidhannagar Branch, Salt Lake City, Sector-I, Kolkata – 700064, which has now merged into State Bank of India as per the Gazette of India notification dated 22.02.2017 with effect from 01.04.2017, for purchasing commercial vehicle (Bus) for carrying transport business; copy of loan Application Form dated 14.08.2015 is annexed and marked as Annexure 'A-1'. Upon consideration of application, applicant Bank was pleased to grant / sanction a medium term loan of Rs.22,74,000/- (Rupees twenty two lacs seventy four thousand) in favour of the defendant vide letter of arrangement dated 25.08.2015 upon agreed terms and conditions contained in said sanction letter. Copy of said letter of arrangement dated 25.08.2015 is annexed and marked as Annexure 'A-2'.

(ii) In consideration of the aforesaid Loan facility of Rs.22.74 lakhs, the defendant executed the following security documents all dated 25.08.2015:

- (a) Term Loan Agreement;

- (b) Hypothecation Agreement;

- (c) Letter furnishing particular of assets;

- (d) Letter of Undertaking;

- (e) Letter of Indemnity.

Copy of said documents are annexed and marked with Annexure 'A-3' to 'A-7' respectively.

(iii) After execution of the documents and creation of securities, applicant Bank from its State Bank of Travancore, Bidhannagar Branch (since merged with State Bank of India) allowed the defendant to open the borrower account and granted the said facility by way of term loan. The said facility is available for 84 months from the date subject to revision from time to time. The primary security of the aforesaid facility were the present and future goods, book debts and all other movable fixed assets of the borrower including the documents of title to the goods, outstanding money receivable, bills, invoices, documents of contract etc. were stand hypothecated by way of charge as securities for payment and discharge by the borrower on demand for a sum of Rs.22.74 lakhs. At the relevant point of time the effective rate was @ 12.65% per annum with quarterly rests.

3. The Defendant availed and enjoyed the said term loan facility by opening Account in Bank's Bidhannagar Branch, Block CD-32, Sector – I, Salt Lake City, Kolkata – 700064. However, the defendant failed and neglected to abide by the terms and conditions of the facility. The Defendant did not repay the agreed EMIs and overdue interests in loan Account. 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 22.06.2017. Applicant Bank finding no other alternative issued an Advocate's letter dated 02.07.2018 to the defendant demanding to pay the outstanding dues amount, but the defendant failed and neglected to make repayment of the loan; copy of said advocate's letter dated 02.07.2018 along with postal receipt, postal track and A/D card are annexed and collectively marked with Annexure 'A-8'. 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 'A-9' & 'A-10'), and future interest @ 12.65% per annum with monthly rests, jointly and severally, from 01.07.2018, till full and final realization, 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 04.01.2024 that service of summon upon the Defendant by postal service has been successfully delivered, such has been recorded vide Ld. Registrar's order dated 04.01.2024. Despite service, the sole defendant did not appear nor filed the written statement; thus, the defendant was ordered to be proceeded *ex-parte* vide order dated 18.04.2024. Applicant Bank has filed the written notes of argument on 13.11.2024 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 01.09.2025.

5. Applicant Bank has filed the evidence-on-Affidavit affirmed by Sujit Kumar Paul, Dy. Manager / City Case Officer of Bank's SARB, 2/1, Russel Street, Kolkata – 700071 along with the copy of original documents 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 the original documents have been returned to Ms. Sananda Dhali, City Case Officer of Bank's SARB, 2/1, Russel Street, Kolkata – 700071 on 24.06.2019, such has been recorded in Ld. Registrar DRT-3's order dated 24.06.2019. The documents produced by applicant Bank are exhibited and annexed at 'A-1' to 'A-10'.

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 O.A. Applicant Bank has proved the sanction of term loan facility of Rs.22.74 lacs vide letter of arrangement dated 25.08.2015. Applicant Bank has proved the creation of hypothecated movable assets – commercial vehicle (Bus), described in Schedule 'A' at page 14 and para III.A at page 4 & 5 of the original application.

7. Applicant Bank has stated that the outstanding balance in Term Loan Account (Inclusive of accrued interest and other charges as calculated upto 07.04.2018) is Rs.18,98,567.10 (Rupees eighteen lacs ninety eight thousand five hundred sixty seven and paise ten) and the unapplied interest from 01.07.2017 to 30.06.2018 is Rs.3,24,582.00 has been added / debited in the Account; thus the total outstanding balance comes to **Rs.22,23,149.10** (Rupees twenty two lacs twenty three thousand one hundred forty nine and paise ten) as on 30.06.2018, 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 original Application. Applicant Bank has prayed future interest @ 12.65% per annum with monthly rests, while in letter of Arrangement dated 25.08.2015 the same rate of interest, i.e.. 12.65% per annum, with quarterly rests, has been mentioned. Therefore, the *pendente lite* & future rate of interest which has been claimed by applicant Bank, in the original application, i.e. @ 12.65% per annum, with quarterly rests, from 01.07.2018, till full and final realization, is allowed.

8. On the point of limitation, Loan has been sanctioned on 25.08.2015, security documents have been executed and delivered on 25.08.2015 and original Application has been filed on 01.08.2018. As such, the original Application appears to have been filed well within the period of limitation.

9. 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./328 of 2020 (arising out of O.A./650 of 2018) deserves to be allowed; hence allowed.

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

ORDER

(i) T.A./328 of 2020 (arising out of O.A./650 of 2018), filed by 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.22,23,149.10** (Rupees twenty two lacs twenty three thousand one hundred forty nine and paise ten) due and payable, inclusive of interest and other charges as calculated upto 30.06.2018; and interest for the period *pendente lite* and future rate @ 12.65% per annum, with quarterly rests, from 01.07.2018, 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 – commercial vehicle (Bus); described in Schedule 'A' at page 14 and para III.A at page 4 & 5 of the original application, as under –

*"All That the Hypothecation by way of first and paramount charge in respect of the movable asset being commercial vehicle Chassis number MAT461305FOH05564, Engine No.51G842842885 being TATA LPO 1612/62 TCE-III Bus in possession of the defendant lying at the place of business or wherever else the same may be and all debts and outstanding monies."*

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./328 of 2020 (arising out of O.A./650 of 2018) is allowed and stands disposed of.**

This order is dictated and corrected by the undersigned and pronounced on this the 28^th day of October, 2025.

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

*Arbind Madhav* 28.10.25 (Arbind Madhav) Presiding Officer DRT-2, Kolkata

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