Debts Recovery Tribunals and Appellate Tribunals
CANARA BANK (SYNDICATE BANK) vs M/S. RABIA IMPEX on 29 August 2025
Date of filing : 21.01.2011
Decided on : 29.08.2025
**IN THE DEBT RECOVERY TRIBUNAL-I AT MUMBAI
TRANSFER ORIGINAL APPLICATION NO. 1523 of 2016**
Canara bank, a bank constituted established and functioning under the banking companies (Acquisition and Transfer of Undertaking) Act, 1970, having its Head Office at Bengaluru Karnataka State and amongst others Branches, a Branch at Colaba, Mumbai Through its Assistant General Manager, Mr. K. Divakaran.
...Applicant
VERSUS
Mr. Mateenudin Abdul Rashid Sayed, proprietor of M/s. Rabia Impex, Indian Inhabitant having residential & Office address at Shop No.2, Al Shama Masjid, Naya Nagar, Mira Road (E), Thane - 401 107.
...Defendant
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Counsel for the Applicant : Advocate S. R. Kadam.
Counsel for the Defendant : Nil - Defendant - Ex -parte
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J U D G M E N T
1. 1. This is an application under Section 19(1) of Recovery of the Debt and Bankruptcy Act, 1993 (for short, 'the 1993 Act') to recover Rs.1,45,07,874.75/- with future interest thereon from the date of presentation of the Transfer Original Application till payment/realization and to enforce the mortgaged securities.
2. 2. The Defendant had availed an advance against foreign bills to the tune of Rs.50,00,000/- and again advance against foreign bills to the tune of Rs.60,00,000/- from the applicant on him signing and executing the loan and securities document on 21.05.2008 and 28.05.2008 as set out in paragraph no. 5.I.A and 5.I.F of the Transfer Original Application.
3. 3. Despite the undertaking effected by Defendant they had failed to regularise the account and service interest in the account. So the account remained out of order since long time resulting in it to be declared as NPA.
4. 4. Since the defendant failed to make the repayment, the applicant was left with no other alternative other than to file the Transfer Original Application which was presented on 21.01.2011. Defendant were duly served with the summons for appearance on 03.07.2017. Despite receipt of summons, the defendant did not appear. He had remained absent without any representation for them and so, they were set at exparte.
5. Despite issuance of letters, personal visits, telephonic conversation and reminders the Defendant have failed to regularise the account. So the Applicant had caused the issuance of lawyer notice to Defendant to pay up the dues with interest.
6. The applicant filed an affidavit (exhibit-10) in lieu of examination in chief through Amitava Sanyal, Senior Manager of the bank, had produced documents, which are admitted in evidence, read, recorded and exhibited and were marked as AW-1 to AW-15.
7. Accordingly, the Transfer Original Application was filed for the recovery of Rs.1,45,07,874.75/- with further interest @ 17.50% p.a. alongwith penal interest @ 7.5% p.a. and other expenses for the period from the date of filing of this T.O.A. till payment/realization.
8. The applicant claiming penal interest @ 7.5% p.a. with respect of said facilities, however, the same is hereby declined.
9. A scrutiny of the averments in the Transfer Original Application and an analysis of the evidence adduced by the applicant, which has gone unchallenged, uncontroverted A handwritten signature in blue ink, consisting of stylized, interconnected letters that appear to be 'AV' or similar initials, located at the bottom right of the page.
and unrebutted, shows that there is no reason to reject the claim made by the applicant bank.
10. In view of the observations made hereinabove, Transfer Original Application filed by the applicant deserves to be allowed.
11. Hence, the following order is passed:
ORDER
- a. T.O.A. stands allowed with cost and the Defendant is liable to pay to the Applicant Bank within two months a sum of Rs.1,45,07,874.75/- with further interest @ 16.50% p.a. and other expenses from the date of filing of this T.O.A. till the date of realization; failing which the aforesaid amount shall be recovered from the sale of the movable and immovable properties of the Defendant.
- b. Defendant is directed to declare, on oath, to the Recovery Officer, Debts Recovery Tribunal – I, Mumbai, both their moveable and immoveable assets for the purpose of attachment and sale for realizing the shortfall, if any.
- c. Let a Recovery Certificate be issued with memo of cost immediately u/s 19(22) of The Recovery of Debts and Bankruptcy Act, 1993 together with the details of the properties, if any.
- d. The Defendant is restrained from depleting, transferring, encumbering, alienating or in any way dealing with their properties/assets without first paying the claim of the Applicant Bank.
e. Copies of this judgment be sent to the parties free of cost and file be consigned to record room.
f. Give under my hand and the seal of this Tribunal on this date : 29.08.2025.
Place:- Mumbai Date:- 29.08.2025
Presiding Officer, DRT-1, Mumbai (Sreekala Suresh)