ALLAHABAD BANK vs SWAPAN KUMAR MUKHERJEE AND ORS on 16 March 2020

JUDGEMENT

1. This is an Transfer Application under Section 19 of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 initiated by the applicant against the defendants praying for issuance of Recovery Certificate to the tune of Rs.17,96,781.00 together with interest, cost and other usual rellefs.

2. The brief facts of the case as made out in the Transfer Application by the applicant bank is that the defendant no.1 had approached the applicant bank on 21.08.2009 for grant of a housinq loan wherein the o-

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1. defendants no.2 and 3 had stood as guarantors. The applicant bank after examining the feasibility of the said proposal had sandioned a housing loan of Rs.13.50 lakhs on 04.09.2009 in favour of defendant no.1 with certain terms and conditions, which was accepted by the defendants. It was also stipulated in the sanction letter that the said amount shall be payable in 276 equal monthly installments @ Rs.13,300.00. To avail the above loan, the defendants had executed the loan documents on 08.09.2009 and 11.11.2009 in favour of the applicant bank. To secure the above loan, the defendant no.1 had created equitable mortgage of his property in favour of the applicant bank by depositing the origlnal title deed in the bank. After availing the loan, the defendant no.1 had utilized the said loan amount for the purpose he was taken and operated the loan account at the initial stage but subsequently the defendants had failed to operate the said loan account ln terms of the agreement between the parties as a result of which the loan account became irregular. A sum of Rs.17,96,781,00 is due against the defendants which the defendants 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 Transfer Application for the recovery of the aforesaid amount and for the issuance of Recovery Certificate against the defendants, Notices were issued to the defendants to show cause as to why the relief prayed for by the applicant bank be not granted. After issuance of the notice, the defendants had neither appeared nor had filed their show cause reply. Consequently, the said defendants were set ex- parte on 20.12.2019. The Tribunal had no other option but to hear ex- parte against the defendants. a.'

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9. I have heard the learned Counsel perused the relevant documents. The defendants had not contested Thus, the point for determination in of the applicant bank is within time utilized the loan facilities granted defendants are liable to the amount for the applicant bank and have the case of the applicant bank. this case is (i) Whether the claim ? (ii) Whether the defendants had by the bank ? (iii) Whether the due to the aPPlicant bank or not ? B, The applicant bank by oral and documentary evidence has established its case. The documentary evidence comprises from Annexure/Exhibit- A to Annexure/Exhibit- H, which are available 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 H, it is established that the defendants 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 Shri Amitava Chattopadhyay, S/o. Late Ajit Kumar Chattopadhyay, working as Chief Manager of the Applicant Bank. The averments in the application and the facts stated by the witness of the applicant in his affidavit are u nrebutted. From the perusal of the Statement of Account which is Annexure/Exhibit-H, the total outstanding comes to Rs.17,96,781.00 which the applicant bank is entitled to recover from the defendants. 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.17,96,781.00 from the

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11. defendants who are liable for the same. The applicant be entitled to pendentelite and future interest on the 9.25o/o per annum with simple from the date of filing Application till the date of realization bank shall also said amount @ of the Orlginal

ORDER

(1) T.A. No.1O87 of 2014 filed by the Applicant Bank is allowed and debt is determlned with cost against the defendants' It is hereby ordered that aPplicant bank is entitled to recover from the defendants the total amount to the tune of Rs.17,96,781.00 (Rupees Seventeen Lakhs Ninety Six Thousand Seven H undred Eighty One only) with pendentelite and future interest @ 9 25olo per annum with simple on the amount due from the date of filing of the Transfer Application, i.e. 16.12.2013 (i e O A' No'1362 of 2013) till full and final realization of the claim amount'

(2) Amount, if any, paid by the defendants in the loan account or amount, if any, recovered by the Applicant Bank after filing of the T.A. the same be taken into account while arriving at the exact amount of dues/debt payable by the defendants' Accordingly, pendentelite and future lnterest shall be calculated on the reduced amount'

(3) Defendants are debarred from disposing, alienating or dealing with any of the properties belonging to them till the aforesaid decretal debt is recovered from the defendants'

(4) Defendants are given a time of thirty days from the date of the Judgement/Final Order for repaylng of the above mentioned dues, so intimated to them. In case the defendants 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 agalnst personal properties of the defendants (Both movable and immovable) and also proceed against the defendants 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 defendants 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 defendants 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 defendants in favour of the Applicant Bank under Section 79 (22) ot the Recovery of Debts due to the Bank and Financlal Institutions Act, 1993 now known as Recovery of Debts and Bankruptcy Act, 1993. Accordingly, the Original Applicatlon being T.A. No'1087 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 pronounced bY me in the oPen 14arch,2020 ) him, corrected, signed and court on this the 16th daY of A'\own'tt4lvu ANIL KUMAR CHATURVEDI ) PRESIDING OFFICER.

Order Sheet (Continuation) Case No. T.A. No.1087 of 2014 er p-?6nouncellVide sepa rate sheets). with costs. In the result, T.A. No.1087 of 2014 ls allowed Issue Recovery Certiflcate accordingly. (A,K.Chaturvedi) Presiding Officer, DRT-3, Kolkata. Alla habad Bank. ' Vs. Swapan Kumar Mukherjee & Ors. Offico action wrth date aod d.ted Signature ot partles when nacgasary Date ol

Order

Order No.17 16.0 3.2020 Order with Signature