UCO BANK vs SK RASHIDUL AND ANR on 22 September 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 defendants, seeking issuance of Certificate of Recovery for realization of a sum of Rs.21,57,314.87/- (Twenty One Lacs Fifty Seven Thousand Three Hundred Fourteen and Paise Eighty Seven) only with interest calculated upto 27.02.2024 and further interest thereon from 28.02.2024 till realization of the entire amount along with injunction restraining the defendants 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 upon due consideration of the loan applications dated 12.07.2021, 18.11.2021 & 02.03.2022 of the defendants the applicant Bank sanctioned three loan facilities i.e. Cash Credit Loan (Under UCO Trader Scheme) of Rs. 20,00,000/-(Rupees Twenty Lakh Only) on 22.11.2021, Term Loan under GECL facility of Rs.1,00,000/- (Rupees one lakh) on 12.07.2021 and Term Loan under GECL facility of Rs.50,000/- (Rupees Fifty Thousand Only) on 02.03.2022 in favour of the defendants/borrowers/guarantors in the accounts being no. A/c. 06730510007471, 06730610010242 and 06730610018071 respectively against the Equitable Mortgage in respect of Immovable property more fully described in the schedule of the original application. The Defendants executed Demand Promissory Note dated 12.07.2021, 22.11.2021 & 02.03.2022, Statement of Means dated 18.11.2021, Hypothecation of Goods to secure a RAKESH PATI TIWARI

TIWARI Date: 2026.09.23 17:48:07 +05'30'

(Contd…)

Demand Cash Credit dated 12.07.2021, 22.11.2021 & 02.03.2022, A-21 dated 11.08.2020, Letter of Waiver dated 12.07.2021, 22.11.2021 02.03.2022, Agreement relating to Term Loan dated 12.07.2021 & 02.03.2022, Draft of letter of deposit of title deeds to be obtained from the Mortgagors dated 24.05.2019 and Draft of Letter of Undertaking to be obtained from the applicant for advances against immovable property dated 24.05.2019. The defendants created primary security of and Equitable Mortgage by depositing the Gift deed being No. I- 4734 of 2020 relating to the Immovable property as mentioned in the schedule of original application. After availing the loan, the defendants failed to repay the dues of the loan account and as such the Applicant Bank issued Recall notice upon the defendants. After availing the loan, the defendants failed to repay the dues of the loan accounts and as such the account was classified as N.P.A. on 31.10.2022 as per RBI Guidelines. After the loan account became N.P.A. the Applicant Bank issued Demand Notice dated 19.11.2022 under Section 13(2) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002upon the defendants but inspite of the said notice, the defendants failed to repay the loan amount. Thereafter the applicant Bank took Symbolic Possession under section 13(4) of the SARFAESI Act, 2002 read with Rule 8(1) on 15.03.2023 of the Mortgaged immovable property. After giving credits for all sums of moneys paid by and/or realized on behalf of the defendant a sum of Rs.21,57,314.87/- (Twenty One Lacs Fifty Seven Thousand Three Hundred Fourteen and Paise Eighty Seven) only with interest calculated upto 27.02.2024 was due against the defendants in respect of the loan account No. 06730510007471(CC), 06730610010242 (GECL) and 06730610018071 (GECL).

3. Despite the service of summons upon the defendants through newspaper publications, the defendants did not put their appearance before this Tribunal. Hence, the matter is proceeding ex-parte against the defendants, vide order dated 06.08.2026.

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

1. Application dated 12.07.2021, 18.11.2021 and 02.03.2022 and Sanction letters dated 12.07.2021,22.11.2021 & 02.03.2022 A

2. Demand Promissory Note dated 12.07.2021, 22.11.2021 & 02.03.2022 A/1

3. Statement of Means dated 18.11.2021 A/2

4. Hypothecation of Goods to secure a Demand Cash Credit (A9) dated 12.07.2021, 22.11.2021 and 02.03.2022 A/3 RAKESH PATI TIWARI

TIWARI Date: 2026.09.23 17:48:21 +05'30'

(Contd…)

5. A-21 dated 11.08.2020 A/4

6. Letter of Waiver dated 12.07.2021, 22.11.2021 and 02.03.2022 A/5

7. Agreement relating to Term Loan dated 12.07.2021 and 02.03.2022. A/6

8. Draft of letter of deposit of title deeds to be obtained from the Mortgagor dated 24.05.2019. A/7

9. Draft of Letter of Undertaking to be obtained from the applicant for advances against immovable property dated 24.05.2019 A/8

10. Gift Deed being no. I-4734 of 2020, the valuation Report and CERSAI report of the property. A/9

11. Demand Notice U/S 13(2) of the SARFAESI Act, 2002 dated 19.11.2022 A/10

12. Possession Notice dated 15.03.2023 A/11

13. Statement of Accounts A/12

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 adduced documentary evidences which are marked as Exhibits -‘A’, ‘A/1’ to ‘A/12’. The sanction of loan has been proved by producing the Sanction Letters dated 12.07.2021, 22.11.2021 & 02.03.2022 (Exhibit

- ‘A’), the execution of required documents like Demand Promissory Note, Statement of Means, Hypothecation of Goods, A-21, Letter of Waiver, Agreement relating to Term Loan, Draft of letter of deposit of title deeds to be obtained from the Mortgagor, Draft of Letter of Undertaking to be obtained from the applicant for advances against immovable property, Gift Deed etc. have been proved by exhibiting the same at ‘A/2’ to ‘A/9’. By filing the statement of accounts (Exhibit - ‘A/12’), the applicant bank has proved the total outstanding dues to the tune of Rs.21,57,314.87/- (Twenty One Lacs Fifty Seven Thousand Three Hundred Fourteen and Paise Eighty Seven) only against the defendants.

6. The applicant bank has filed this case against the defendants within three years from the date of sanction of loan and execution of loan documents on 12.07.2021, 22.11.2021 & 02.03.2022 and as such the claim of the applicant bank is within limitation.

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

8. In the instant matter applicant bank has not pleaded about the specific rate of interest rather simply under para 6-b it is mentioned that it is entitled to get pendente lite and further interest at the rate under floating option and as per base rate per annum with monthly rests RAKESH PATI TIWARI

TIWARI Date: 2026.09.23 17:48:35 +05'30'

(Contd…)

subject to change in Base Rate/administrative guidelines issued from time to time until realization. The rate of interest as mentioned in the ‘Loan Sanction Letter’ dated 22.11.2021 (Annexure ‘A’, running page no. 37) is 8.2% p.a. for CC A/c No. 06730510007471, and the rate of interest as mentioned in the ‘Sanction letter’ dated 12.07.2021 and ‘Offer Letter to borrower dated 02.03.2022 (Annexure ‘A’, running page no. 40 and 44) is UCO Float rate+0.60 i.e. 7.50% p.a. for both GECL accounts No. 06730610010242 and 06730610018071, and accordingly the same is granted. Thus the Applicant Bank is entitled to recover the total dues debt amount @8.2% p.a. with monthly rests for CC A/c No. 06730510007471 and @7.50% p.a. with monthly rests for both GECL accounts Nos. 06730610010242 and 06730610018071for the pendente lite and post RC period till the realization of dues amount.

9. There is nothing available on the record to contradict the version of the applicant bank as the ex-parte hearing has been made in this case. 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. 39/2026 arising out of O.A. No. 236/2024 filed by the applicant bank is allowed against the defendants No. 1 & 2 jointly and severally and it is hereby ordered that the applicant bank is entitled to recover the total dues debt amount for Rs.21,57,314.87/- (Twenty One Lacs Fifty Seven Thousand Three Hundred Fourteen and Paise Eighty Seven) only with interest calculated upto 27.02.2024 with further interest thereon from 28.02.2024 @8.2% p.a. with monthly rests for CC A/c No. 06730510007471 and @7.50% p.a. with monthly rests for both GECL accounts No. 06730610010242 and 06730610018071 till realization of entire balance from the defendants along with the cost amount.

(ii) Amount, if any, paid by the defendants 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 defendants.

(iii) The mortgaged property being Owner- Sk. Rasidul, Area-03 Satak, Deed No.4734/2020, Dated-03.09.2020, JL No. -57, Dag No- 204, 207(as per deed, LR,ROR) Khatian No. and HAL Khata No.634 (as per Deed LR,ROR), Mouza- Chhoto kustikuri, PO - Domdama, Purandarpur, SRO- Suri, Police Station - Suri, District-Birbhum, West Bengal, which is butted and bounded by North - By the road, South - By the land of Sk. Erfan, East - RAKESH PATI TIWARI

TIWARI Date: 2026.09.23 17:48:47 +05'30'

(Contd…)

By the land of Sk. Inul, West - By the land of Sk. Iskur Rahaman, as mentioned in the schedule of the Original Application, shall remain charged to the applicant bank and the applicant bank shall have paramount charge thereon.

(iv) The defendants are debarred from transferring; alienating, encumbering or disposing of any property and assets belonging to the defendants till the aforesaid adjudicated debt amount is recovered from the defendants.

(v) The defendants are 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 proceed against the said defendants 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 defendants 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 defendants 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 22nd day of September, 2026.

(RAKESH PATI TIWARI) Presiding Officer DRT, Siliguri.

RAKESH PATI TIWARI Digitally signed by RAKESH PATI TIWARI

17:49:11 +05'30'