BANK OF INDIA vs RAJU HALDER on 20 October 2020

JUDGEMENT

This is an Transfer Application under Sectlon 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 ot Rs.71,76,749/- together with interest, cost and other usual reliefs. The brief facts of the case as made out in the Transfer Application by the applicant bank is that the defendant had approached the applicant bank for grant of financial assistance to run his business in the name of M/s Srikrishna Enterprise- as sole proprietor. The applicant bank after examining the feasibility of the said proposal had sanctioned Cash Credit facility of Rs.9.50 lakhs in favour of sole defendant on 13.04.2O1L with certain terms and conditions, which was accepted by the defendants. To avail the above loan facility, the defendant had executed various loan documents on 13.04.2011 ln favour of the o applicant bank. After availing the loan, the defendant had utilized the said loan amount in his business and operated the loan account at the initial stage but subsequently the defendants 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.71,76,749/- is due against the defendant which the defendant had not paid despite repeated demands and request. Finding no other way to recoveT the dues of the bank, the applicant bank had filed this Original Applicatlon for the recovery of the aforesaid amount and for the issuance of Recovery Certificate against the defendant.

4. Notices were 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 defendants had neither appeared nor had filed their show cause reply. Consequently, the said defendants weTe set ex- parte on 29.11,2019, The Tribunal had no other option but to hear ex- parte against the defenda nts. I have heard the learned Counsel perused the relevant docu ments. 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

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5.

7. the case of the applicant bank. this case is (i) Whether the clalm ? (ii) Whether the defendants had by the bank ? (iii) Whether the due to the applicant bank or not ? The applicant bank by oral and documentary evidence has establlshed its case. The documentary evidence comprises from Annexure/Exhibit- A to Annexure/Exhibit-A/s, which are available in paper book filed by the applicant bank.

8. From the perusal of the documents referred above and the certified copy of the statement of account, which is filed as Annexu relExhibit-A

10. to A/8, it is established that the defendants had availed the financial facilities from the applicant bank and had withdrawn the amount th rough the account.

9. The oral testimony comprises of an affidavit of Shri Jyoti Ranjan Mishra, S/o. Shri Basudev Mishra, 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 unrebutted. From the perusal of the Statement of Account which is Annexure/Exh ibit-A/8, the total outstanding comes to Rs.17,76,749/- which the applicant bank is entitled to recover from the defendants.

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 R'.LL,76,7491- from the sole defendant who is liable for the same. The applicant bank shall also be entitled to pendentelite and future interest on the said amount @ 12o/o per annum with simple from the date of filing of the Transfer Application till the date of realization.

ORDER

(1) T.A. No.479 of 2014 filed by the Applicant Bank is allowed and debt is determined with cost against the defendants. It is hereby ordered that applicant bank ls entitled to recover from the sole defendant the total amount to the tune of Rs.L!,76,749/- (Rupees Eleven Lakhs Seventy Six Thousand Seven Hundred Forty Nine only) wlth pendentelite and future interest @ t2o/o p€r annum with simple on the amount due from the date of filing of the Transfer Application, i.e. 31.01.2014 tlll full and final realization ofthe claim amount. o-

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 lnto 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. Defendant is debarred from disposing, alienating or dealing with any of the properties belonging to them till the aforesaid decretal debt is recovered from the defendant. Defendant is given a time of thirty days from the date of the Judgement/Flnal Order for repaying of the above mentioned dues, so intimated to them. 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 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 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. 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 order/judgement for recovery of the sum against the defendant in favour oF the Applicant Bank under Section 79 (22) ot the Recovery of Oebts due to the Bank

(s) o- and Financial Institutions Act, 1993 now known as Recovery of Debts and Bankruptcy Act, 1993. Accordingly, the Original Application being T.A. N0.479 of 2014 is allowed and stands disposed of. Copy of the ludgement/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 the2dh day of October, 2020 ) A'r' cl"'=-^x<r' ( ANIL KUMAR CHATURVEDI ) PRESIDING OFFICER.

^ Debts Recovery Tribunal-Ill, Kolkata Order Sheet (Continuation) Ba nk of India CaSe NO. TA No.479 of 2014 Vs Raju Halder Date of

Order

Order with signature Office action with date and dated signature of parties when Order No. )tJeJlIr' Order pronounced (Vide separate sheets). In the result, T.A. No.479 of Z0l4 is allowed with costs. Issue Recovery Certificate accordingly. ,4'r'ar$fr: (A. K.Chaturvedi) Presiding Officer DRT-3, Kolkata 0.2