Punjab National Bank vs MR SANTANU MAJUMDER AND ORS on 28 November 2025

1. 1. **Mr. Santanu Majumdar**, son of Manteswar Majumdar, residing at 28/A, Bishalaxmitala Road, P.S.- Behala, Kolkata – 700060.

2. 2. **Mrs. Puspita Majumdar**, wife of Sri Santanu Majumdar, residing at 28/A, Bishalaxmitala Road, P.S.- Behala, Kolkata – 700060.

..... Defendants

Counsel for parties:

<table border="0"> <tr> <td>For the Applicant Bank</td> <td>: Md. Amjad Ali</td> </tr> <tr> <td>For the Defendants</td> <td>: Ex-Parte</td> </tr> </table>

**FINAL ORDER / JUDGMENT**

Delivered on 28.11.2025

Applicant (Punjab National Bank) erstwhile United Bank of India instituted the present Application being the Original Application No.272 of 2018 filed in DRT-3, Kolkata on 31.03.2018 against two Defendants under Section 19(1) of the Recovery of Debts & Bankruptcy Act, 1993 (amended from time to time) for recovery of **Rs.48,82,396.00** (Rupees forty eight lacs eighty two thousand three hundred ninety six) interest calculated upto 31.03.2018 and further interest at the contractual rate, i.e. 15.10% per anum with monthly rests with effect from 01.04.2018, 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 19.10.2019 and the same has been renumbered as T.A./210 of 2019 vide Ld. Registrar's order dated 26.10.2019.

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) 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./335 of 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) The Defendant No.1 applied for Cash Credit facility to the applicant Bank for the purpose of development of his business vide application dated 17.02.2011. Copy of the Application dated 17.02.2011 is annexed and marked as Annexure 'A'. Upon consideration of the said application, applicant Bank was pleased to sanction a cash credit facility of Rs.22,00,000/- (Rupees twenty two lakhs) through letter of sanction dated 01.03.2011 which was further enhanced to Rs.40,00,000/- (Rupees forty lakhs) vide letter of sanction dated 22.02.2012 on certain terms and conditions mentioned therein accepted by the defendant. Copy of said letters of sanction dated 01.03.2011 & 22.02.2012 are annexed and marked as Annexure 'B'.

(ii) In consideration of the aforesaid credit facilities, the defendant executed and delivered the following loan documents in favour of applicant Bank:

- (a) Agreement of Hypothecation goods dated 02.03.2011;

- (b) Agreement of Hypothecation goods, books debts, plant and machinery dated 02.03.2011 & 24.02.2012;

- (c) Letter of Lien dated 02.03.2011 & 24.02.2012;

- (d) Letter of Continuity dated 02.03.2011 & 24.02.2012;

- (e) Demand Promissory Note dated 21.10.2011 & 24.02.2012;

- (f) Balance Confirmation letter dated 17.11.2015;

- (g) Text of Consent Clause;

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

(iii) The defendant executed a Notary Affidavit dated 06.02.2012, in which the Defendant has solemnly affirmed that Defendant No.1 is the absolute owner of the land and having clear right title and interest over the property which is mortgaged with bank.

Copy of said Notary Affidavit dated 06.02.2012 is annexed and marked as Annexure 'D'.

(iv) In consideration of the said sanction and in acknowledgement of the grant thereof, the Defendant No.2 duly signed and executed the Letter of Guarantee dated 02.03.2011 & 24.02.2012 in favour of the applicant Bank. Copy of the letter of Guarantee dated 02.03.2011 & 24.02.2012 are annexed and collectively marked as Annexure 'E'.

(v) As a security against the said loan granted to the said defendant No.1, The Defendant No.1 created an equitable mortgage in respect of immovable property, described in Schedule at page 16 and para 3A at page 8 & 9 of the original application, through letter dated 24.02.2012 with the bank by depositing original Title Deed being No.868 of 2005, recorded in Book-I, Volume No.15, page No.327 to 338, registered in the office of the ADSR, Behala, standing in the name of Mr. Santanu Majumder. Copies of the letter dated 24.02.2012 and Title Deed Being No.868 of 2005 are annexed collectively marked as Annexure 'F'.

5. The Defendants enjoyed the said credit facility by opening Account in Bank's Taratala Branch, at P-1, Taratala Road, Kolkata – 700088. However, the defendants failed and neglected to abide by the terms and conditions of the facility. The Defendants did not repay the outstanding Bank's dues and overdue interests in loan Account(s). Inspite of repeated requests made by applicant Bank, the defendants failed to regularize the loan Account(s). Since the defendants did not pay any attention to regularize the Account(s), the Account(s) became out of order and was classified as N.P.A. Thereafter, Applicant Bank issued a demand notice dated 03.04.2018 upon the defendants through its Advocate demanding to repay the outstanding loan amount, but the defendants did not comply with the said notice; copy of notice dated 03.04.2018 is annexed and marked as Annexure 'G'. 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 'H'), and future interest at contractual rate, i.e. @ 15.10% 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 notices / summons were sent to the Defendants No.1 & 2 by the Tribunal; service of summons by postal service upon the Defendants is refused; hence, it is presumed that summons has been successfully effected upon the Defendants, such has been recorded vide Ld. Register's order dated 12.09.2024. Despite service, the defendants did not appear nor filed the written statement; thus, both the defendants were ordered to be proceeded *ex-parte* vide order dated 01.04.2025. Applicant Bank has filed the written notes of arguments on dated 28.10.2025 thereby stated the brief facts of the case as has been narrated in the original application.

7. Applicant Bank has filed the Affidavit of Evidence affirmed by Debashis Guha Sarkar, Branch Manager of erstwhile Bank's Taratala Branch at P-1, Taratala Road, Kolkata – 700088 along with the copies of original documents executed by Defendants. 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 Ms. Keya Guha, Sr. Manager of Bank's Taratala Branch, Kolkata on 31.01.2024, such has been recorded in Ld. Registrar's order dated 31.01.2024. The documents produced by applicant Bank are exhibited and annexed as Exhibits 'I' to 'XVI'.

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, unrebuted and its veracity cannot be put to dispute. Applicant Bank has corroborated the averments made in the O.A. / T.A. Applicant Bank has proved the sanction of cash credit facility of Rs.22.00 Lakhs vide letter of sanction dated 01.03.2011 and further enhance to Rs.40.00 Lakhs vide letter of sanction dated 22.02.2012. Applicant Bank has proved the equitable mortgage of immovable property; described in Schedule at page 16 and para 3A at page 8 & 9 of the original application.

9. On the point of limitation, Loan has been sanctioned on 01.03.2011 & 22.02.2012 respectively; loan / security documents have been filed on dated 02.03.2011 & 24.02.2012 and original application has been filed on 17.04.2018. Further, applicant bank executed and delivered the Balance & Security Confirmation Letter dated 17.11.2015 in favour of applicant Bank confirming the outstanding balance in loan Account(s). As such, the original Application appears to have been filed well within the period of limitation.

10. Applicant Bank has stated that the outstanding balance in Loan Account (inclusive of accrued Interest and other charges as calculated upto 31.03.2018) for a sum of **Rs.48,82,396.00** (Rupees forty eight lacs eighty two thousand three hundred ninety six) as on 31.03.2018, which is the amount claimed by the applicant Bank in the original Application, and the defendants No.1 & 2 are, jointly and/or severally, liable to repay the said amount to the applicant Bank with *pendente lite* and future interest, till realization in full. I allow the claim as made by the applicant Bank in the original Application. Applicant Bank has prayed further interest at the contractual rate, i.e. @ 15.10% per annum with monthly rests from 01.04.2018 till the actual payment or realization thereof, while in the letters of sanction dated 01.03.2011 & 22.02.2012 the rate of interest @ 12.45% per annum and @ 14.10% per annum respectively, have been mentioned. Therefore, in my view, the *pendente lite* & future rate of interest @ 13% per annum, with quarterly rests, from 01.04.2018, is allowed.

11. The matter also falls within the territorial as well as pecuniary jurisdiction of this Tribunal. The Applicant Bank has proved its claim made in the O.A. The original application being T.A./210 of 2019 (arising out of O.A./272 of 2018) deserves to be allowed; hence allowed.

(S)

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

**ORDER**

(i) T.A./210 of 2019 (arising out of O.A./272 of 2018) filed by applicant Bank, is allowed and debt is determined with cost against the Defendants No.1 & 2. It is hereby ordered that the Defendants No.1 & 2 are hereby directed to pay, jointly and / or severally, the total debt amount of **Rs.48,82,396.00** (Rupees forty eight lacs eighty two thousand three hundred ninety six) due and payable, inclusive of interest and other charges as calculated upto 31.03.2018; and interest for the period *pendente lite* and future @ 13% per annum, with quarterly rests, from 01.04.2018, till realization of the entire sum due and recoverable.

(ii) Amount, if any, paid by the Defendants in the loan account(s) 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 Defendants No.1 & 2. Accordingly, the *pendente lite* and future interest shall be calculated on the reduced amount.

(iii) Defendants are debarred from transferring, alienating, encumbering or disposing of the mortgaged immovable property; described in Schedule at page 16 and para 3A at page 8 & 9 of the original application:

**Mortgaged Immovable Property:**

*"ALL THAT piece and parcel of residential flat containing an area of 800 Sq.ft. super built-up, more or less situated on the second floor under KMC ward No.132, being premises No.63B, Bishalaxmitala Road, P.S.- Behala, Kolkata – 700060, standing in the name of Mr. Santanu Majumder."*

The Defendants No.1 & 2 are also debarred from transferring, alienating, encumbering or disposing any other property(s) and assets belonging to them till the aforesaid adjudicated debt amount are recovered from the Defendants.

(iv) Defendants No.1 & 2 are given a time of sixty days from the date of this Final Order / Judgment for repayment of the above mentioned dues, so intimated to them. In case the Defendants fail 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 properties of the Defendants both moveable and immoveable and also proceed against the Defendants No.1 & 2 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 Defendants No.1 & 2 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 Defendants No.1 & 2, 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./210 of 2019 (arising out of O.A./272 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 28^th day of November, 2025.

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

*Arbind Madhav* (Arbind Madhav) Presiding Officer DRT-2, Kolkata 28/11/25

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