CANARA BANK vs Vivekananda Chakraborty on 10 August 2026

J U D G M E N T

1. This is an application under section 19 of the Recovery of Debts and Bankruptcy Act, 1993, filed by the applicant bank against the sole defendant seeking issuance of Certificate of Recovery for realization of a sum of Rs.11,61,947.96 (Rupees Eleven Lacs Sixty One Thousands Nine Hundred And Forty Seven And Paise Ninety Six) only [Rs. 10,79,870.96 (OCC) + Rs. 82,071.00 (Kishan Credit Card Scheme)] with interest calculated upto 28.02.2017 and future interest thereon from 01.03.2017 @14.25% p.a. with monthly rests for OCC Account and interest calculated upto 30.09.2016 and future interest thereon from 01.10.2016 @11.00% p.a. with monthly rests for Kishan Credit Card Scheme account till realization of the entire amount along with injunction restraining the defendant from disposing of and/or alienating and/or encumbering the personal charged and uncharged assets and also costs.

2. The facts in brief, giving rise to the present application as pleaded are that considering the application dated 06.02.2006 of the defendant, the Applicant Bank, sanctioned open cash credit facilities to the extent of Rs.2 lacs to the defendant, vide Sanction Memorandum dated 14.02.2006. The defendant on 14.02.2006 executed Pronote and Cash credit agreement. the borrower hypothecated stocks, Paddy, Raw Material, goods-in-process and all finished goods etc. kept in the RAKESH PATI TIWARI

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premises at Vill. Jamna, P.O. Dhrubabati, Dist. Birbhum, in favour of the Applicant Bank by way of first charge as security to the loan granted by the Applicant Bank. thereafter at the request of the defendant the Applicant bank Sanctioned enhancement of the existing credit limit from Rs.2 lacs to Rs.6 lacs with the interest 13.25% per annum vide its sanction Memorandum dated 09.12.2006. The defendant on 09.12.2006 executed Letter of Renewal, Pronote, Cash Credit Agreement and Supplemental Agreement. To collaterally Secure the aforesaid Credit facility the defendant on or about 06.07.2007 deposited the letter evidencing deposit of such title deed dated 06.07.2007 and the title deed of his property being Dist. Dirbhum, under P.S. and Sub-Registry Lavpur, Chowki Bolrur, Mouza Jamna, J.L. No. 162, Khatian No. 109 (one hundred nine). Dag No. 990 (nine hundred ninety), Class - fallow land Area out of 27 decimals 09 (nine) decimals, out of which the property gifted 04½ decimals (four and a half decimals), morefully described in the true translation of title deed submitted by the applicant bank. Thereafter again at the request of the defendant the applicant bank on or about 23.02.2008 renewed the Cash Credit facility vide its Sanction Memorandum dated 23.02.2008. The defendant executed Letter of Renewal dated 23.02.2008. Thereafter again at the request of the defendant the applicant bank on or about 04.02.2009 renewed the Cash Credit facility vide its Sanction Memorandum dated 04.02.2009. The defendant executed Letter of Renewal dated 04.02.2009. The Defendant executed acknowledgement of Debts and Security on 04.02.2009, 04.05.2011 and 10.04.2014 for OCC. The defendant applied for sanction of a loan under Kishan Credit Card of Rs.50,000/- dated 14.12.2011 and pursuant to the said application, on or about 14.12.2011 the Applicant Bank sanctioned the said loan vide its Sanction Memorandum dated 14.12.2011. The defendant executed Agreement of Hypothecation for Agricultural Loan dated 14.12.2011. The Defendant executed acknowledgement of Debts and Security on 14.11.2014 for KCC. After availing the loan, inspite of requests and reminders the defendant failed to regularize the loan account and as such the loan accounts were classified as NPA on 30.10.2014 and 24.09.2016 respectively as per the guidelines of Reserve Bank of India. After the account was classified as NPA, the applicant bank issued a statutory demand RAKESH PATI TIWARI

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notice under Section 13(2) of The Securitization and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002 dated 20.03.2015 upon the defendant but the defendant failed to comply with the said notice. Thereafter the Applicant Bank issued Lawyer’s notice dated 27.03.2017 upon the defendant. According to the applicant bank after giving credits for all sums of moneys paid by and/or realized on behalf of the defendant a sum of Rs.11,61,947.96 (Rupees Eleven Lacs Sixty One Thousands Nine Hundred And Forty Seven And Paise Ninety Six) only was due against the defendant in the loan accounts OCC and KCC.

3. The defendant did not put his appearance before this Tribunal despite the service of summons upon the defendant through speed post. Hence the matter is proceeding ex-parte against the defendant, vide order dated 21.05.2026.

4. The Applicant Bank in support of its case has filed evidence by way of affidavit as affirmed by Vijay Kumar Shrivastava, the Senior Manager of the Applicant Bank and also relied upon the following documents:- Sl. No. Name of the documents Exhibits No.

1. Loan Application dated 06.02.2006 A

2. Sanction Memorandum dated 14.02.2006 A-2

3. Pronote dated 30.8.2006 A-3

4. Cash Credit Agreement dated 14.02.2006 A-4

5. Sanction Memorandum dated 9.12.2006 A-5

6. Letter of Renewal dated 9.12.2006 A-6

7. Pronote dated 9.12.2006 A-6

8. Cash Credit Agreement dated 9.12.2006 A-6

9. Supplemental Agreement dated 9.12.2006 A-6

10. Letter Evidencing Deposit of Title Deed dated 6.7.2007 A-6

11. Loan Application dated 23.02.2008 A-9

12. Sanction Memorandum dated 23.02.2008 A-10

13. Letter of Renewal dated 23.02.2008 A-11

14. Application of Renewal dated 04.02.2009 A-12

15. Sanction Memorandum dated 04.02.2009 A-13

16. Letter of Renewal dated 04.02.2009 A-14

17. Acknowledgment of Debts and Security dated 04.02.2009 A-15

18. Acknowledgement of Debts and Security dated 04.05.2011 A-16

19. Acknowledgement of Debts and Security dated 10.04.2014 A-17

20. Loan Application dated 14.12.2011. A-18 RAKESH PATI TIWARI

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21. Sanction Memorandum dated 14.12.2011. A-19

22. Agreement of Hypothecation for Agriculture Loan dated 14.12.2011. A-20

23. Acknowledgment of Debts and Security dated 14.11.2014 A-21

24. Notice under section 13(2) of SARFAESI Act dated 20.3.2015 A-22

25. Notice of Demand dated 27.03.2016. A-23

26. Statement of Accounts A-24

27. Title Deed A-25

5. I have heard the learned counsel for the applicant bank and perused the documents and evidence adduced by the applicant bank. The Applicant bank has proved documentary evidence which are marked as Exhibits ‘A’, ‘A-2’ to ‘A-24’. The sanction of loan has been proved by producing the Sanction Memorandums dated 14.02.2006, 9.12.2006, 23.02.2008, 04.02.2009 and 14.12.2011 (Exhibit-‘A-2’, ‘A-5’, ‘A-10’, ‘A-13’ & ‘A-19’), the execution of required documents like Loan Applications, Pronote, Cash Credit Agreement, Letter of Renewal, Supplemental Agreement, Letter Evidencing Deposit of Title Deed, Acknowledgment of Debts and Security, Agreement of Hypothecation, Title Deed etc. have been proved by exhibiting the same at ‘A’, ‘A- 3’, ‘A-4’, ‘A-6’ to ‘A-9’, ‘A-11’, ‘A-12’, ‘A-14’ to ‘A-18’, ‘A-20’, ‘A-21’ and ‘A-25’. By filing the statement of accounts (Exhibit ‘A-24’), the applicant bank has proved the total outstanding dues of Rs.11,61,947.96 (Rupees Eleven Lacs Sixty One Thousands Nine Hundred And Forty Seven And Paise Ninety Six) only against the defendant.

6. The applicant bank has filed this case against the defendant within three years from the Acknowledgement of Debts and Security on 10.04.2014 and moreover taking into account of the creation of the mortgage of immovable landed property by the defendant, the limitation available is for 12 (twelve) years.

7. The applicant bank has got valid cause of action to file this case as after taking the loan the defendant failed to make payment as per the terms and conditions of the sanction letter agreed by the defendant.

8. It is observed that there are material discrepancies in the description of the mortgaged property as reflected in the documents relied upon by the Applicant Bank. In Schedule 'F-1' of the Original Application, the property is described is “ALL THAT bastu land measuring about 6.75 Satak (4.08 Cottahs) more or less at Vill. Jamna, Mouza - RAKESH PATI TIWARI

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Jamna, J.L. No.162, Khatian No.109, Khatian receipt No.0650746m dated 07.10.2006, Dag No. 990, P.O. Dhrubabati, P.S. Lobhpur, Dist. Birbhum”. Further, the True Translation copy of the title deed describes the property as “Dist. Dirbhum, under P.S. and Sub-Registry Lavpur, Chowki Bolpur, Mouza Jamna, J.L. No. 162, Khatian No. 109 (one hundred nine). Dag No. 990 (nine hundred ninety), Class - fallow land Area out of 27 decimals 09 (nine) decimals, out of which the property gifted 04½ decimals (four and a half decimals)”. Thus the charge would only be on the property described in the true translation copy of the title deed of the defendant as the property of the defendant.

9. There is nothing available on the record to contradict the version of the applicant bank and thus the applicant bank has sufficiently proved its case by exhibiting all relevant documents. In the above circumstances, following order is passed ;

O R D E R

(i) T.O.A. No. 94/2026 arising out of O.A.166/2017 filed by the applicant bank is allowed against the sole defendant with cost and it is hereby ordered that the applicant bank is entitled to recover the total dues debt amount for Rs.11,61,947.96 (Rupees Eleven Lacs Sixty One Thousands Nine Hundred And Forty Seven And Paise Ninety Six) only [Rs. 10,79,870.96 (OCC account) + Rs. 82,071.00 (Kishan Credit Card Scheme account)] with interest calculated upto 28.02.2017 and future interest thereon from 01.03.2017 @12.45% p.a. with monthly rests for OCC Account and interest calculated upto 30.09.2016 and future interest thereon from 01.10.2016 @9.00% p.a. with half yearly rests for Kishan Credit Card Scheme account till realization of entire balance from the defendant along with the cost amount.

(ii) Amount, if any, paid by the defendant in the loan account or amount recovered by the applicant bank, if any, made towards the loan accounts after filing of the O.A be taken into account while arriving at the exact amount of outstanding payable by the defendant.

(iii) The hypothecated property being Stocks of Paddy, Raw Material goods in progress and all finished goods kept in the premises at Village-Jamna, P.O. Dhrubabati, District-Birbhum, as mentioned in the Schedule - “C-1” of the original application, and mortgaged property being Dist. Dirbhum, under P.S. and Sub- RAKESH PATI TIWARI

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Registry Lavpur, Chowki Bolrur, Mouza Jamna, J.L. No. 162, Khatian No. 109 (one hundred nine). Dag No. 990 (nine hundred ninety), Class - fallow land Area out of 27 decimals 09 (nine) decimals, out of which the property gifted 04½ decimals (four and a half decimals), as mentioned in the “True Translation copy of the title deed” of the defendant, shall remain charged to the applicant bank and the applicant bank shall have paramount charge thereon.

(iv) The defendant is debarred from transferring; alienating, encumbering or disposing of the hypothecated/mortgaged properties or any other property and assets belonging to the defendant till the aforesaid adjudicated debt amount is recovered from the defendant.

(v) The defendant is given a time of thirty days from the date of this judgment for repayment of the above decreed debt amount with interest failing which the applicant bank is entitled to recover its dues by sale of the hypothecated/mortgaged property as aforesaid and is also entitled to proceed against the said defendant personally and/or personal properties to recover the dues in accordance with law.

(vi) Let the certificate of Recovery be drawn up by the Learned Registrar forthwith in terms of judgment for issuance of the same against the defendant in favour of applicant bank under Sub-Section 22 of Section-19 of The Recovery of Debts and Bankruptcy Act, 1993and put up the same for signature and issuance.

(vii) Learned Recovery Officer is directed to realize the dues amount from the defendant as per the recovery certificate in accordance with law.

(viii) Let this judgment be uploaded on website of the tribunal and the Registry is directed to serve/send copy of this judgment to the parties free of cost.

(ix) Record is consigned to the record room along with the judgment.

The judgment is signed and pronounced in the open Tribunal on 10th day of August, 2026. (RAKESH PATI TIWARI) Presiding Officer DRT, Siliguri.

RAKESH PATI TIWARI Digitally signed by RAKESH PATI TIWARI

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