Debts Recovery Tribunals and Appellate Tribunals
UCO BANK vs RATAN BASU on 8 December 2021
BEFORE THE DEBTS RECOVERY TRIBUNAL-III KOLKATA
PRESENT: -SRI ANIL KUMAR CHATURVEDI.
PRESIDING OFFICER.
TA-7L4 of 2014 arising out of O.A. No.1252 OF 2014.
DArE OF DELTVERY OF ORDER , ot,iz.zozr
UCO Bank ,
Titagarh Branch,
13, B.T.Road,
P.O. -Titagarh,
Pin-700 119.
...
Applicant Bank.
-Versus-
Ratan Basu
Son of Late Sasanka Shekhar Basu,
Proprietor of M/s Maa Anima Gravear printing, Residing at- Vill- Ma nda lpara, Shyamnagar, Dist-North 24 patganas, Kolkata,Pin-743 727 .
And Business at -
172, F/8, Aswini Dutta Road ,
P.O. -Panihati,
P.S.-Khardah,
Oist-North 24 parganas,
Pin-700 114.
Defendant.
Counsel for the Applicant Bank: Shri Rathin Dey.
Counsel for the Defendant :
Set ex-parte on L7 .11.2027.
JUOGEMENT
1.
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,37,55,772.92 ps. together with interest, cost and other usual reliefs.
2.
The brief facts of the case as made out in the Original Application by the applicant bank is that the defendant had approached the applicant bank for grant of financial assistance for business. The applicant bank after examining the feasibility of the said proposal had sanctioned a
3.
Cash Credit Loan facilities of Rs. 8 Lakh On 10.06.2009 which was enhanced to Rs.14 Lakh on 19.03.2010, the same was further enhanced to Rs.18 Lakh on 24.12.2010 and again the same was enhanced to Rs.28 Lakh on 30.03.2012 and Term Loan of Rs.S Lakh on 30.03.2012 with certain terms and conditions, which was accepted by the defendant. To avail the above loan facility, the defendant had executed various loan documents including hypothecation of machineries and stocks and goods in favour of the applicant bank on 10.06.2009 and 30.03.2013.
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 subsequently 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.37,55,772.92
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 Originat 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 17.77.2021- The Tribunal had no other option but to hear ex-parte against the defendant.
I have heard the learned Counsel for
perused the relevant documents.
The defendant had not contested the
Thus, the point for determination in this the applicant bank and have case of the applicant bank.
case is (i) Whether the claim
4.
5.
6.
a-
of the applicant bank is within time ? (ii) Whether the defendant utilized the loan facitities granted by the bank ? (iii) Whether defendant is liable to the amount due to the applicant bank or not ?
had
the
8,
7.
The applicant bank by oral and documentary evidence has established its case. The documentary evidence comprises from Annexure/Exhibit- A to Annexure/Exhibit- G which are available in paper book filed by the applicant bank.
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 Annexure/Exhibit- G 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 Kartick Chandra Ray, S/o Late G.C.Ray, working as Principal officer ofthe Applicant Bank. The averments in the application and the facts stated by the witness of the applicant in his affidavit are unrebutted.
From the perusal of the Statement of Account which Annexure/Exhibit- F the total outstanding comes to Rs.37,55,772.92
which the applicant bank is entitled to recover from the defendant.
11. In view of the above discussion and after considering the entire evidence-on-affidavit 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.37,55,772.92 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 @
14.25o/o per annum with simple from the date of filing of the Original Application till the date of realization.
9.
10.
is
ps
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ORDER
rA-7L4 of 2014 arising out of O.A. No.1252 of 2014 Rted by the Applicant Bank is allowed and debt is determined with cost against the defendant. It is hereby ordered that applicant bank is entitled to recover from the defendant the total amount to the tune of Rs.37,55,772.92 ps (Rupees Thirty Seven Lakh Fifty Five Thousand Seven Hundred Seventy Two and paise ninety two only) with pendentelite and future interest @ 14.25o/o per annum with simple on the amount due from the date of filing of the Originat Application,
t. e.
29. O9.20L4 till futt and final amount. realization of the claim
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. Accordingly, pendentelite and future interest shall be calculated on the reduced amount.
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.
Defendant is given a time of thirty days from the date of the Judgement/Final 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, ifany. Applicant bank is also entitled to proceed against personal properties of the defendant (Both movable and immovable) and also proceed against the defendant personally to recover the dues in accordance with law.
Let the Certificate of Recovery be drawn up by Ld. Registrar forthwith in terms of tudgement 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.
Ld. Recovery Officer shall realize the amount as per the Recovery Certificate from the defendant in accordance with law. 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 79 (22) ot the Recovery of Debts due to the Bank and Financial Institutions Act, 1993 now known as Recovery of Oebts and Bankruptcy Act, 1993.
The parties are directed to appear before the Recovery Officer on 06.01.2022 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-714 of 2Ot4 arising out of o.A. No.1252 of 2014 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, siqned and pronounced by me in the Virtual iorrt on tnts ttie ofldly of December, 2021 ) ANIL KUMAR CHATURVEDI PRESIDING OFFICER.
trl Debts Recovery Tribunal-III, Kolkata Order Sheet (Continuation) UCO Bank case No. rA/ 714 /2074 (OA-72s2-2Ot4) Vs Ratan Basu Date of
Order
Order with signature Office action with date and dated signature of partaes when Order No.16 08 t2.2021 (Ihe proceedlnss of the Coun are beinS .ohducted throuSh vldeo confercncinS from their rcsidential officer/ residences. Also the Advocates and the staffs joihed rhe p.o.eedi.8, thrcush video conler€ncina f rom th€ir reridences/offi.es). Ld, Advo.rte f,ir, Rathin Dey app€ared for the Appttcant Bank. None is present for the d€fendants. Matterwas head invirtu.l coudon 17-112021 Ihe detailed ord€r in 5 pages a n nexed separatety. The gist ot the order as ar fo ows:
ORDER
1. T -714 of 2014.rising out of O.A. No.1252 of 2ola fit.d by rheApplidnr B.nk k a[o@i and debt k deremihed wlh co{ against th. d€Lnd.nt. lt k h.rebv ordered lh:r.ppti6^t b.nk is.ntirbd io recove. trom th€ def€nda^l rhe toral amouht to th. tu.e ol Rs 37,55,772 92 pt (Rupes Ihi.ry seEn takh Fittv Five Thowand seven Hund.ed se@nty Two and paise ninetv rwo ohtyl wnh pendentetne a.d tutu.e inreren @ 14.25x pe. annum with simple o. the amolnt due from the d.re otfitngofthe OriSinat Apptrcation, r e. 29.09 2014 ri tulland final r.aliration ofthe.t.im amolnt.
2. Amount, ifany, paid by the def€ndants inthe toan accounts oramount, ifany, rccovered by the Applicant Sank afte. fili.t ot the O.A. the same b€ taken into accolnt white arivinS at the ercct amolnt of dues/debt pay.ble by the defendants. Accordingty, pendentetite and future interest sh.ll be cakulat€d on the reduced amounr
3. oefendantr are deb.red froh disposing, atienatang or deating wiih any of the prope.ties belongint toth€mtillthe afores.id de.retard€bt is rc.ov€.ed frcm the defendants.
4. Defendants ar€ given a time of thirty d.y! frcm the date of the tudgemenvFinat od€r for repaying of the above mentioned dues, so inrimared tothem. ln care the defendants faik to pay the dues within the above mentioned time, the appticant bank ts €ntitted to recover its dues by sale of secured assets, if any. Appticant bant is ats entitted to proced aFinn p€rsonat propertier of the defendants {Both movable and immovabte) and .tro proce€d againn the defenda ntr p€lsonally to rccow. the dues in accorda nce with taw. s.Letthe Cenificate of Recovery be dlawn up by Ld. ReSistrar fonhwith in terms of Judgement for issuance of the same a8ainn defendants in favour of the applicant bank under section 19 (22) of the Recove.y of oebrs and Bankruptcy Act, 1993 and put up the same for issuance of the Certificate. 6.1d. Recovery Ofti.er shall .e.lize the anolnr as per the Recovery Cedificate trom the defendant' in acco.d.ncewith law
7. td. Retistlar of this Tibunat ir di.ected to detiver recovery certific.re in term ot the fi.at orde udS€ment fo. recovery ofthe sum againn th€ defendantr in f.vour ofthe Appticanr Bank under Seftion 19 (22)ofthe Recovery of DebB due !o the Bant and rina.cialnstitutions Ad, 199i now tnown as Re.overy of Debts and Sankruptcy Act, 1993.
8. The panies are directed to appear before th€ Recovery Officeron 05.01.2022 for fu.rher action in accordancewith law inthe ev€nt the entire a mount is notpaid bythe said date. Accodindy, the OriSinal Application beint TA.7t4oI2014.ti.soutorOA.Nol2s2 ol 2014 is allow€d and nands disposed of. copy of the ludgement/flnal order be uptoad i. the Tribu^at,s webtite. File is .onsianed to th. R.cord Room. (Od.tedlo P 5., t,an*n[€d bv him, core.red. risned and pronoun.ed by me,n the vrrtualcoun onthisthe O9tt.v of De(enb€r,2021) ( ANIL KUMAR CIATURVEOI ] PRESIOING OFFICEN. oate,6$ 1\212s21