STATE BANK OF INDIA vs NITAI PADA MONDAL AND ANR on 6 December 2021

JUDGEMENT

This is an Original Application under Section 19 of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 initiated by the applicant against the sole defendant praying for issuance of Recovery Certificate to the tune of Rs.24,84,311.96 ps. together with interest, cost and other usual reliefs. &

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6. The brief facts of the case as made out in the Original Application by the applicant bank is that the defendant no.1 had approached the applicant bank on for grant of financial assistance for business . The applicant bank after examining the feasibility of the said proposal had sanctioned a Cash Credit loan facilities of Rs. 20 Lakh on 3t/OstZOO2, with certain terms and conditions, which was accepted by the defendants No. 1 and 2 . Defendant No. 2, is the guarantor. To avail the above loan facility, the defendant had executed various loan documents including mortgage of the tifle deeds on 31.05.2002 in favour of the applicant bank. After availing the loan, the defendant had utilized the said loan amount in its business and operated the loan account at the initial stage but subsequen y the defendant had failed to operate the said loan account in terms of the agreement between the parties as a result of which the loan account became irregular. A sum of Rs.24,84,311.96 ps, is due against the defendant which the defendant had not paid despite repeated demands and request. Finding no other way to recover the dues of the bank, the applicant bank had filed this Original Application for the recovery of the aforesaid amount and for the issuance of Recovery Certificate against the defendant. Notice was issued to the defendant to show cause as to why the relief prayed for by the applicant bank be not granted. After issuance of the notice, the defendant had neither appeared nor had filed his show cause reply. Consequently, the said defendant was set ex-parte on 17.11.2021, The Tribunal had no other option but to hear ex-parte against the defendant, I have heard the learned Counsel for the applicant bank and have perused the relevant documents. The defendant had not contested the case of the applicant bank. Thus, the point for determination in this case is (i) whether the claim of the applicant bank is within time ? (ii) Whether the defendant had utilized the loan facilities granted by the bank ? (iii) Whether the defendant is liable to the amount due to the applicant bank or not ?

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7. The applicant bank by oral and documentary evidence has established case. The documentary evidence comprises from Annexure/Exhibit-A its to

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Annexure/Exhibit-Q which are avajlable in paper book filed by the applicant ban k. From the perusal of the documents referred above and the certified copy of the statement of account, which is filed as Annexure/Exhibit- A to e it is established that the defendant had availed the financial facilities from the applicant bank and had withdrawn the amount through the account. The oral testimony comprises of an affidavit of Sri Sajat Kumar Majumder, working as Deputy Manager of the Applicant Bank. The averments in the application and the facts stated by the witness of the appticant in his amdavit are unrebutted. From the perusal of the Statement of Account which is Annexure/Exhibit-Q the total outstanding comes to Rs.24,84,311.96 ps. which the applicant bank is entitled to recover from the defendant, In view of the above discussion and after considering the entire evidence-on- affldavit of the applicant bank and the documents filed by the applicant bank, I have no hesitation to hold that the applicant bank is entitled to recover a sum of Rs.24,84,311.96 ps. from the defendant who is liable for the same. The applicant bank shall also be entitled to pendentelite and future interest on the said amount @ 12.75yo per annum with simple interest from the date of filing of the Original Application till the date of realization.

ORDER

(1) rN2Ol7 of 2Ol5 arising out of O.A. No.70 of 2005 filed by the Applicant Bank is allowed and debt is determined with cost against the defendantt,It is hereby ordered that applicant bank is entitled to recover from the defendant the total amount to the tune of Rs.24,84,311.96 ps.(Rupees Twenty Four Lakh Eighty Four Thousand Three Hundred Eleven and paise ninety six only) with pendentelite and future interest @ \2,75o/o ler annum r,Yith simple due from the date of filing of the Lrt

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11. interest on the amount

Original Application, i.e. 31.05.2021 ti full and final realization of the claim amount.

(2) Amount, if any, paid by the defendant in the loan accountor amount, if any, recovered by the Applicant Bank after filing of the O.A. the same be taken into account while arriving at the exact amount of dues/debt payable by the defendant. Accordingty, pendentelite and future interest shall be calculated on the reduced amount.

(3) Defendant is debarred from disposing, alienating or dealing with any of the properties belonging to him till the aforesaid decretal debt is recovered from the defendant.

(4) Oefendant is given a time of thirty days from the date of the JudgemenvFinal Order for repaying 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 assets, if any. Applicant bank is also entitled to proceed against pe6onal properties of the defendant (Both movable and immovable) and also proceed against the defendant personally to recover the dues in accordance with law.

(5) Let the Certificate of Recovery be drawn up by Ld. Registrar forthwith in terms of Judgement for issuance of the same against defendant in favour of the applicant bank under Section 19 (22) of the Recovery of Debts and Bankruptcy Act, 1993 and put up the same for issuance of the Certificate.

(6) Ld. Recovery Officer shall realize the amount as per the Recovery Certificate from the defendant in accordance with law,

(7) Ld. Registrar of this Tribunal is directed to deliver recovery certificate in term of the final ordey'judgement for recovery of the sum against the defendant in favour of the Applicant Bank under Section 19 (22) of the Recovery of Debts due to the Bank o- and Financial Institutions Act, 1993 now known as Recovery of Debts and Bankruptcy Act, 1993.

(8) The parties are directed to appear before the Recovery Officer on O5.O7.2O22 for further action in accordance with law in the event the entire amount is not paid by the said date. Accordingly, the Original Application being TA,/2017 of 2015 arising out of O.A. No.70 of 2005 is allowed and stands disposed of. Copy of the Judgement/Final Order be upload in the Tribunal,s website. File is consigned to the Record Room. ( Dictated to P.S., transcribed by him, corrected, signed and. pronounced by me in the Virtual Court on this the t$d;y of December, 2021 ) ( ANIL KUMAR CHATURVEDI ) PRESIDING OFFICER.

tll Debts Recovery Tribuna!-III, Order Sheet (Continuation) case No. rA/z1t7l2ots (oA/7o/2oos) Kolkata SBI Vs Sri Nitaa Pada Mondal & Anr. Order No.40 ;{n2021 Order with signature ohe p.oceeOtnSs residential orfices/ residenc€s. Atso the Advo.ates and the Sraffs joined the ;oceedings through video conferencing rrom th€ir residences/offices). Ld, Advocate Hs. S,Oey appeared for the Apoticant Bank. None is present for the defendants liiatter was heard h virtuat court on 17-11-202r The detaibd oder tn 5 pages annexed separatety. The gisi of the order ls as folows: OROER ]' TV2O17 of 2015 ..isin8 out of or. No.7o ot 2oos tit€d by lhe Appticant B..t is alowed .nd debt B dererhmed *ith cdt .8.h3r the d.Ie.drnr tr 6 hereby ordpred th.t appt,cant b..k { .nn .d to re(eer from 0e d.Fndanr th. tot.t .mou^l to th. ru.e ot Rr.2a.34,lll96 Dr.{Rupe.! rwe^ry Fod ..ih righry rour Thousand Three Hlndred Etaen.nd p.ke nt.€ty sir onty) with p.nd.nter(e.nd nrr,. in,.*rr O ri.zix p", .nnum warhiimpl. int.8r onrheamolnrdu.arom the d.t. ot fitins of ttre ortStnat 4lrication, 1.e. 31.05.2021 tilllull.ndltnrteati.ationofth.claimamounr.

2. Amount, il a., paid by rh. delend.nG in the len accounr3 or .mounl, it .n, redlred by th. Appricant S.nkafteriling olthe O_A. rhesame betate. intoaccountwhit. a..vinB.tthe ex..l amount ol dues/debi p.yable by the d.fenden8. Accordin8ty,pend€ntehe.ndtuiu.eiarerstsh.llbe..tcltared o6 the redu.ed.mounr.

3. DelendanB ar. deb.r.d lrm dispGin& .tien.rins ordeatina with.ny ot the p.openi., b€tonainS ro 6em till tie afoBid d€ra.t d.br is @r.d t om the defendanG

4. o.fendants.r. tiE.. rime of thiny d.Y3 trom th€ date ot ihe lldS.henvFjnat Ord.r ior rep.ying ol the above hentioned dues, so intiB.t€d to rhem. h cas€ rhe defenda.G t ikropaythedueswiihin'th;abov. mentioned tihe, lhe applient bank b entitl.d to.ecoEr its du.s by sate of *clred a$ets, if any. Appli.ant b.nk k arlo .niitted to proc.ed .g.iin plGonat p.openie! of the defendanc (Borh mov;bl. an; imm@able)and al3o prcce.d egainirhe d.fend.nts peEona vto recovlr the dues i. accord.nce wth

5. Ler theC.rti6or. ol Re@rybe dr.e^ up by Ld n.ginr.r torthwirh in tems oI)udgem..t to. isuah.e ot th! Fme.!ei.rt d.Lnd.ntt in f.6u. otthe ipp]]anr bank lnder Sfttio. 19 (22)ot the Re.oEry of DebG and B.nlruptcyAct,1993 .nd put uprhes.h.tor issuanc. ot rh€ C.nitiar€. 6.1d. R.coEry Ofilcer th.ll Ealir. the.mount ar per th. Recwe.y c.rrifiGte tDm th. d.rendahr in .c.o.dancewirh t.w. 7.1d. Reginrar ol thB lrihlnat it diretd to d.tiw. rev.ry c.nifiqte in terh oi the finat o.d../jud8emenr ror rc@ry ofrhe ium 4.inn the detend.nrs in i.EUr otrheAppti6^t B.nk under 52(rio. 19 (22) ol rh. F6oEry of DebB du. ro th. B.nk and Fin.nd.t tnstitution3 A.r. 1993 now kn n ., R.coEry of DebB and 8.nkrupr.y A.t, 1993. a.The parties are dneded roeppear b€lo.e th. Reco€.y Offic.r on 05.01.2022 for fu.rher..!on in accordancewnhlawi.rh. .Entthe.nit...mountBnotp.idbythei.idd.re. a.cordin8r, the oriain.r fuptiotion b.in8 TAl2017 ot 2015 arBins oet of o.a -ro ot 2oo5 i! allo*ed.nd lt.nde dBpos ot. Copv ol rhe Judieme^Vtrna' Ord.r be upto.d r the Inb.nah weblte. File b conllgn.d tothe R@rd R@h ' :':'ffil:*'ieH:yi',1#'J:iT;ii'i^'-' pronou'ced bvmein'ih' trnu'rcoud u Prace: KolkAta oate:.lDlt2/2o21 Date of

Order

Office action with date and dated sigoature of parties when i