STATE BANK OF INDIA vs SK. NURUL ALAM & ANR on 20 July 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.3g,66,685.31 together with interest, cost and other usual reliefs.

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 24.O7.2007 for grant of financial assistance for his business wherein the defendant no.2 had stood as guarantor. The applicant bank after examining the feasibility of the said proposal had o-

3. sanctioned a cash credit limit of Rs.25.00 lakhs and a term loan of Rs.13.00 lakhs aggregating Rs.38.00 takhs on 31.08.2007 in favour of defendant no.1 with certain terms and conditions, which was accepted by the defendants. To avail the above loan facilities, the defendants had executed various loan documents on 08.11.2007 in favour of the applicant bank. After availing the loan, the defendant no.1 had utilized the said loan amount in his business and operated the loan accounts at the initial stage but subsequently the defendants had failed to operate the said loan accounts in terms of the agreement between the parties as a result of which the loan accounts became irregular. A sum of Rs.39,66,685.31 ls 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 appeared through their Counsel but failed to file their show cause reply and absented themselves from the proceedings. Consequently, the said defendants were set ex-parte on 20.72,20L9. The Tribunal had no other option but to hear ex-parte against the defendants. I have heard the learned Counsel for the applicant bank and have perused the relevant documents. The defendants 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 wlthin time ? (ii) Whether both the defendants

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7. had utilized the loan facilities granted by the bank ? (iii) Whether the defendants are liable to the amount due to the applicant bank or not ? The applacant bank by oral and documentary evidence has established its case. The documentary evidence comprises from Annexure/Exhibit- A to Annexure/Exhibit-E, which are avaitable in paper book filed by the a pplicant bank. From the perusal of the documents referred above and the certified copy of the statement of account, which is filed as Annexu relExhibit_A to E, it is established that the defendants had availed the financial facilities from the appltcant bank and had withdrawn the amount through the account. The oral testimony comprises of an affidavit of Shrj Apurba lvjtra, S/o. Sankar Mitra, working as Manager of the Applicant Bank. The averments in the apprication and the facts stated by the witness of the applicant in his affidavit are unrebutted. B.

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10. From the perusal of An nex u relExh ibit- E, the which the appltca nt bank the Statement of Account which is total outstanding comes to Rs.39,66,6g5.31 is entitled to recover from the defendants.

11. In view of the above discussion and after considering the entire evidence-on-affidavlt of the applicant bank and the documents filed by the applicant bank, I have no hesitation to hotd that the applicant bank is entiued to recover a sum of Rs.39,66,6g5.31 from the defendants who are liable for the same. The applicant bank shall also be entiued to pendentelite and future interest on the said amount @ 13.05o/o per annum with simple from the date of filing of the Original Application till the date of realization. a-

ORDER

(1) T.A. No.845 of 2015 filed by the Appticant Bank is a owed and debt is determined 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.39,66,685.31 (Rupees Thirty Nine Lakhs Sixty Six Thousand Six Hundred Five and Paise Thirty One only) with pendentelite and future interest @ 13.05olo per annum with simple on the amount due from the date of filing of the Transfer Application, i.e. 07.04.2010 (i.e. o.A. No.427 of 2010) 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 interest 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 repaying 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 against 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 ludgement 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 Offlcer shall reallze 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 order/judgement for recovery of a- the sum against the defendants in favour of the Applicant Bank under Section L9 (22) ot the Recovery of Debts due to the Bank and Financial Institutions Act, 1993 now known as Recovery of Debts and Bankruptcy Act, 1993. Accordingly, the Original Application being T.A. N0.845 of 2015 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., transcriqed by him, corrected, siqned and pronounced by me in theft open Court on this theJlEq day of b-2o2o ) 'i o-e* eD'\ Jula ,cr, v lvtl't4 ''0 A'F-lY"'c"'^"'- ( ANIL KUMAR CHATURVEDI ) PRESIDING OFFICER.

Order Sheet (Continuation) Cas6 No. T.A. No.B45 of 2015 Order prono e separate s with costs. In the result, T.A. No.845 of 2015 is allowed Issue Recovery Certificate accordingly. A'Yc*'s-'<'n (A.K.Chaturvedi) Presiding Officer, DRT-3. Kolkata. State Bank of India. Vs. Sk. Nurul Alam & Anr. OfficE action wrth date and dated Sign.ture ol parfle3 when nacgt!aty Drto ol Ordor Order No.21 Nslron 70" Ordsr with Signaturo