STATE BANK OF INDIA vs Asif Rizwan And Ors on 30 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. 41,17,216.00 (Rupees Forty One Lakh Seventeen Thousand Two Hundred Sixteen) only with interest calculated upto19.08.2025 and future interest thereon from 20.08.2025 till realization of the entire amount along with injunction RAKESH PATI TIWARI

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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 the defendants as stated in the original application are the legal heirs and/or legal representatives after the demise of the borrower, namely Rejaul Haque Sah. The information/details of the legal heirs and/or the legal representatives of the deceased borrower being the defendants herein could be collected from a letter being Memo No. 525/PGP/25 issued on 22.07.2025 by the Office of the Prodhan of the Panrui Gram Panchayat, Panrui, Birbhum, West Bengal. Considering the application of the deceased borrower, the applicant bank sanctioned a Cash Credit facility to the tune of Rs. 47 Lakh (Rupees Forty- Seven Lakh) only in favour of the said deceased borrower, vide Letter of Arrangement dated 21.03.2024. The said deceased borrower on 21.03.2024 executed Hypothecation Agreement and Deed of Guarantee. According to the applicant bank after availing the loan, the defendants failed to repay the dues of the loan account and as such the loan accounts were classified as NPA on 05.03.2025 as per the guidelines of RBI. Thereafter the applicant bank issued a demand notice dated 22.08.2025 upon the Defendants being the legal heirs and/ or legal representatives of the said deceased borrower. The deceased borrower created equitable mortgage/s in favour of the Applicant Bank upon the property as described in the schedule of the title deed being no. I- 2278 for the year 2024 with the Applicant bank, the details of which is as follows: All that piece and parcel of land out of 16 Ana 12 decimal land, Type/ classification- Baid (Presently habitable) under R.S. and L.R. Dag No. 1495, J.L. No. 177, L.R. Khatian No. 615 in district- Birbhum, PS- Panrui, A.D.S.R office Siuri, Mouza- Kubirpur, as described in schedule of the Deed of Gift being No. I-2278 for the year 2024, more fully and particularly described in the Schedule B of the original application. After giving credits for all sums of moneys paid by and/or realized on behalf of the defendants a sum of Rs. 41,17,216.00 (Rupees Forty One Lakh Seventeen Thousand Two Hundred Sixteen) only with interest calculated upto19.08.2025 was due against the defendants in respect of loan Account Nos. 42825739746 (CC)

3. Despite the service of summons upon the defendants through speed post, the defendants did not put their appearance before this Tribunal and hence the matter is proceeding ex-parte against the defendants, vide order dated 15.07.2026. RAKESH PATI TIWARI Digitally signed by RAKESH PATI TIWARI

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4. The Applicant Bank in support of its case has filed evidence by way of affidavit as affirmed by Mr. Krishna Ranjan Prasad, the Chief Manager of the applicant bank and also relied upon the following documents:- Sl. No. Name of the documents Exhibit No.

1. Letter being Memo No. 525/PGP/25 issued on 22.07.2025 by the Office of the Prodhan of the Panrui Gram Panchayat, Panrui, Birbhum, West Bengal. A1

2. Letter of Arrangement dated 21.03.2024 A2

3. Hypothecation Agreement dated 21.03.2024 A3

4. Deed of Guarantee dated 21.03.2024. A4

5. Postal receipts for sending such demand notices are enclosed hereto along with office copies of the demand notice dated 22.08.2025 and postal track reports. A5 collectively

6. Confirmatory letter dated 06.04.2024 along with postal receipt, and title deed/s. A6 collectively

7. Statement of account A7 collectively

8. Valuation report 18.07.2025 A8

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 ‘A1’ to ‘A8’. The sanction of loans has been proved by producing the Letter of Arrangement dated 30.03.2015 (Exhibit - ‘A2’), the execution of required documents like Letter being Memo No. 525/PGP/25, Hypothecation Agreement, Deed of Guarantee, Confirmatory letter along with postal receipt, and title deed/s etc. have been proved by exhibiting the same at ‘A1’, ‘A3’, ‘A4, ‘A6’. By filing the statement of accounts (Exhibit - ‘A7’), the applicant bank has proved the total outstanding dues along with interest upto19.08.2025 to the tune of Rs.41,17,216.00 (Rupees Forty One Lakh Seventeen Thousand Two Hundred Sixteen) only against the defendants.

6. The applicant bank has filed this case against the defendants within three years from the date of sanction of the loan on 21.03.2024 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. RAKESH PATI TIWARI Digitally signed by RAKESH PATI TIWARI

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8. In the instant matter applicant bank has not pleaded about the specific rate of interest rather simply under para 6-A it is mentioned that it is entitled to get pendente lite and further interest at the contractual rate. The rate of interest as mentioned in the sanction letter is 9.00%. Thus, the bank is entitled for the interest @9.00% with monthly rests for 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. 11/2026 arising out of O.A. No. 377/2025 filed by the applicant bank is allowed against the defendants No. 1,2, 3, 4, 5, 6 & 7 jointly and severally with costs and it is hereby ordered that the applicant bank is entitled to recover the total dues debt amount of Rs. 41,17,216.00 (Rupees Forty One Lakh Seventeen Thousand Two Hundred Sixteen) only with interest calculated upto 19.08.2025 and further interest thereon @9.00% p.a. with monthly rests from 20.08.2025 till realization of entire balance from the defendants along with cost amount. The liability of all the defendants shall be to the extent of the value of the property inherited from the deceased borrower, namely Rejaul Haque Sah.

(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 hypothecated property being All that the Hypothecation by way of first and paramount charge in favour of the Applicant Bank in respect of the present and future stock of goods, and movable property of any kind belonging to the business of the applicant, apparatus, tools, stores and spares, vehicle, furniture, fixtures and all office merchandise of Defendant lying in the office or wherever else the same may be and all book debts and outstanding monies or any other assets whatsoever out of the business by the defendant, as mentioned in Schedule ‘A’ of the original application, and mortgaged property being All that piece and parcel of land out of 16 Ana 12 decimal land, Type/classification- Baid (Presently habitable) under R.S. and L.R. Dag No. 1495, J.L.. No. 177, L.R. Khatian No. 615 in district- Birbhum, PS- Panrui, A.D.S.R office Siuri, Mouza- Kubirpur, as described in schedule of the Deed of Gift being No. I-2278 for the year 2024, RAKESH PATI TIWARI

RAKESH PATI TIWARI Date: 2026.10.03 17:24:24 +05'30'

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which is butted and bounded by On the North- Vacant Land in Dag No. 1496, On the South- Vacant land in Dag No. 1494, On the East-30 Feet pakka road, On the West- vacant land in Dag Nos. 1491 and 1492. The property stands in the name of the said deceased borrower namely Rejaul Haque Sah, as mentioned in Schedule ‘B’ 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 the hypothecated/mortgaged properties or any other 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 recover its dues by sale of the hypothecated/mortgaged property as aforesaid and is also 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, 1993 and 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 30th day of September, 2026.

(RAKESH PATI TIWARI) Presiding Officer DRT, Siliguri.

RAKESH PATI TIWARI

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