BANK OF INDIA vs MS SIGMA NETWORK CO PVT LTD AND ORS on 13 February 2026

JUDGEMENT

1. The Appticant Bank filed an O.A. No. 276 of 2OO9 before DRT _2, Kotkata on 15/05/2009. Subsequenfly, tGnsferred to DRT _3 Kolkata being re number as TA No, .|.A/L531/2O15 on 13l10/2015 for rer seventeen Lac Eiehty r*o rno*uno'?,iL ff iH il :lfi J;'i;iL';'ll;"1'Jiii only) from the Defendants towards Cash Credit Loan Facilities together with interest, cost and other usual reliefs.

2. The Defendants are served with summons. The defendants dld not appear, as there was no representation from the defendants, the case was fixed for ex-parte hearing on 04/02/2026, and heard ex-parte accordingly.

3. The Applicant Bank examined 17 documents through Swapna Biswas, working for a gain at Bank of India, Asset Recovery Branch, marked as Exhrbrt Annexure -A to Exhibit Annexure -Q. i. Annexure- A- Loan Offer Letter dated 15.05.2006. ii. Annexure- B- proposal for credit limit for Rs. 30 Lac dated 18.05.2006. iii. Annexure- C- Sancflon Letter No. DCDR/BR/C & ICl21 dated 18,05,2006, iv. Annexure- D- Demand promissory Note dated 18.05.2006. v. Annexure- E_ Letter of Declaration and unde.standing (L_ 516) dated 18.05.2005. vi. Annexure- F- Deed of Composite Hypothecataon Ag.eement dated 1g.O5.2OOG.

vii. Annexure- G- Hypothecation of Stock/Book Debts dated 18.05.2006.

viii. Annexure- H-Letter of Declaration UndeEtanding (L- 514) dated 18.05,2006. ix. Annexure- I- Letter of Lien and Set_Off dated 18.05.2006. x. Annexure- J_ Common Guarantee Deed dated 1g.05.2006. xi. Annexure- K- Letter of Declaration (L-440) dated 18.05.2006.

xii. Annexure- L- FiGt Defendant Borrower Company! profile (M/s. Sigma Network Co. h^. Ltd). xiii, Annexure- Nl- Debit Balance Confirmation/Acknowledgement of Debt & Securities,

xiv. Annexure- N- Statement of Accounts.

xv. Annexure- o- Notice ofoemand by Appricant Bank,s Advocate dated 23.04.2009.

xvi. Annexure_ p_ Guarantor! profile of Sri Debabrata Das, the Defendant No. 4 hereto.

xvii. Annexure- e- Guarantor,s proflle of Sri Badal Biswas, the Defendant No. 5 hereto.

4. Heard the Ld. Counsel for the Applicant Bank.

5. The point that arises for consideration ls : Whether the Appticant Bank is Derendants and oA scrreaure propertielnatl';:j::i:.:"'' made in the oA aeainst the

6. As stated supra, the Oefendant remained absent and did not turn up to controvert the version of the O.A, of Appllcant Bank. The Evidence Affldavit coupled with the recitals in the documents vaz., Exhibit Annexure _A to Exhibit Annexure -e marked on behalf of the Applicant Bank, estabrished the craim of the Appricant Bank agarnst the Defendants and oA schedule properties. Hence, I hold that the Defendants are join y and severa y llable to pay to the Applicant Bank the claims made in the OA with future interest and costs. l;d".,_rn an" resutt, the present Original Apptication is allowed ex_parte with costs. as

ORDER

(1) T.A. No. 153r of 2o1s fired by the Appricant Bank is alowed and debt is determined with cost against the defendants. It is hereby ordered that applicant bank is entiued to recover from the defendants the total amount to the tune of Rs. 17,82,848.92_ (Rupees Seventeen lac Eighty Two Thousand Eight Hundred Forty Eight and Ninety Seven paise onry) incruding interest as carcurated together with interest pendentirite and further interest at the rate of 14.5006 per annum to flll full and final realizaUon of the claim amount.

(2) Amount, lf any, paid by the defendants in the loan accounts or amount, if any, recovered by the Applicant Bank after filing of the O.A. the same be taken into account whlle arrtving at the exa( pendente,ite and futu.",":.T:ili,fl".::"J,1:::TJil::.:],fi:l""Hnts. Accordine,v,

(3) Oefendants are d( ::',:"";::.0"'"n''n '" 1"""T""'lT"':1:'.::1 "i:"#]'.;,':":'.":::."11"J ,'l:

(4) Defendants are gtven a time of thirty days f.om the date of the JudgemenvFanal Order for repaying of th. derenda nts rair to pa y,r"' "tI ;:J T:":ri,"""ffi ,:::I:;:, :,:X ;_{:1 it entifled to recover its dues to proceed "n",nr, ,"."on.ll"ale of secured assets' if any Applicant bank is also entiued and arso proceed against ur propertles of the defendants (Both movable and immovabre) law. le defendants personally to recover the dues ln accordance with

(5) Let the Ceruficate ot Judgement for issuance ortl:to'"t'be dr6w6 r'p bv Ld Registrar forthwith in terms of under section 19 (22) ofthr same against defendants in favou. of the applacant bank same for issuance of ,n" a"n,l,.""tl"]"' ot Debts and Bankruptcy Act, 1993 and put up the

(6) Ld. Recove.y officer the defendants ,, "."o.o"n.jlillfljze the amount as per the Recovery certificate from

(7) Ld. Registrar of this Tl finar order/judgeme"* ,.. .Jl]::' o -oirected to dellver recoverv certificate in term ofthe Appricant Bank ,n0". a"o,otollo of the sum against the defendant in favour of the Financiar Institutions Act, 199:

(22) of the Recovery of Debts due to the Bank and 3 now lnown as Recovery of Debts and Bankruptcy Act, 1993.

(8) The parties are direct€ further action in accordance *l.t: """"t before the Recovery officer on 03/03/2026 for date. ith law in the event the enti.e amount is not pald by the said Accordingly, the Oriqinat Appti, 276 ot 2oos)is arrowea ana stacriat:[:::.:l No 1s31 or 2ors (arisine out or o.A. No. & Copy of the JudgemenvFinal Order be uptoaded in the Tribunal! website.

Flle is constgned to the Record Room. (Dictated to steno, transcribed by him, corrected, signed and pronounced by me in the open Court on this the 13ti day of February, 2026. PRESIDING OFFICER ADDITIONAL CHARGE (SRr ARB r NDTADtrAVF-=Z ..z4 OF DRT -II KOLKAIA OF DRT _III KOLKATA

Debts Recovery Tribunal-3, Kolkata Order Sheet (Continuation) Case No. T.A. 1531 Of 2ots Bank Of rndia vs. Slgma ttetwork Co. pvt. Limited & Ors. Order with signature Order No. 16 Dt. 13t02t2026 Order pronounced (vide separate sheets) In the result, T.A. 1531 Of 2015 (O.A. No. 276 Of 2OO9) is allowed with costs. Issue Recovery Certificate accordingly. (Arbind Madhav) Presiding Officer DRT -2, Kotkata Additional Charge Of DRT -3, Kolkata