Before the Hon’ble Recovery Officer
In the Debts Recovery
Tribunal Kolkata–1,
9th Floor, Jeevan Sudha Building, 42-C, Jawahar Lal Nehru
Road, Kolkata – 700071
I.A. No. of 2025
in RC/64/2024
in OA/251/2009
In the matter of;
Bank of Baroda,
Applicant/CHB
- Versus–
M/s. Apurba
Overseas Private Limited and Others,
Defendants/CD
APPLICATION
FOR KEEPING IN ABEYANCE THE RECOVERY PROCEEDINGS IN VIEW OF PENDING ONE-TIME
SETTLEMENT PROPOSAL AND PART PAYMENT OF ₹10,94,894.80/-
The humble
application of the Certificate Debtors above named most respectfully;
Showeth as under;
1.
That the present
recovery proceeding has been initiated by the Certificate Holder Bank in
execution of the Recovery Certificate issued by the Hon’ble Presiding Officer,
DRT-I, Kolkata, in O.A. No. 251 of 2009, and the same is presently pending
before this Hon’ble Recovery Officer.
2.
That the Certificate
Debtors, in order to amicably settle the matter and discharge their liability,
have submitted a One-Time Settlement (OTS) proposal before the Certificate Holder
Bank, which is under active consideration of the competent authority of the
Bank.
Photostat copy of all
communications pursuing the OTS Settlement between the Certificate Debtors & the Certificate Holder Bank and the Demand Draft of ₹10,94,894.80/-
(Rupees Ten Lakhs Ninety Four Thousand Eight Hundred Ninety Four and paise
Eighty) only, are collectively annexed herewith and marked as Annexure – “A”.
3.
That in
good faith and in pursuance of such proposed settlement, the Certificate Debtors
have already deposited a sum of ₹10,94,894.80/- (Rupees Ten Lakhs Ninety Four Thousand and
Eight Hundred Ninety Four and paise Eighty only) with the Certificate Holder
Bank towards the proposed OTS, the receipt of which has been duly acknowledged
by the Bank.
4.
That the
said proposal for OTS is still pending decision before the Bank, and the
Certificate Debtors are in regular communication with the Bank for early
finalization of the same.
5.
That this
Hon’ble Recovery Officer has been pleased to fix 04/11/2025 as the next date for submission of assets by the
Certificate Debtors in connection with the above proceeding.
6.
That in
view of the pending OTS proposal and part payment already made, continuation of
coercive recovery proceedings at this stage may frustrate the possibility of an
amicable settlement between the parties and cause irreparable prejudice to the
Certificate Debtors.
7.
That it is
well settled that where the borrower and the bank are engaged in bona fide
settlement negotiations, the recovery proceedings may be kept in abeyance for a
reasonable period to facilitate such settlement, particularly when substantial payment
has already been made.
8.
That the
Certificate Debtors undertake to abide by the terms of the OTS if approved and
not to alienate or dispose of any assets if any, pending such consideration.
9.
That the
present application is made bona fide and in the interest of justice.
In view of
the facts and circumstances stated hereinabove, the Certificate Debtors most
respectfully pray that this Hon’ble Recovery Officer may graciously be pleased
to;
a)
Keep the
present recovery proceedings in abeyance, including submission of assets, till
the final decision of the Certificate Holder Bank on the OTS proposal submitted
by the Certificate Debtors;
b)
Direct the Certificate
Holder Bank to communicate its decision on the pending OTS proposal within a time-bound period;
c)
Pass such
further or other order(s) as this Hon’ble Recovery Officer may deem fit and
proper in the facts and circumstances of the case.
And for this
act of kindness, the Certificate Debtors shall, as in duty bound, ever pray.
AFFIDAVIT
I, Dulal Chandra
Naskar, Son of Late Lalit Mohan Naskar, aged about 56 years, by faith Hindu, by
Occupation Business, residing at Village – Tegharia, Post Office – Ramkrishna
Pally, Police Station – Sonarpur, Kolkata 700150, District – South 24 Parganas,
do hereby solemnly affirm and says as follows;
1.
That I am
being the Defendant No. 2 / CD No. 2, in the present Recovery Proceeding. I am
authorized by the Defendant nos. 1, & 3, / CD Nos. 1& 3, herein in the
present Recovery Proceeding by the Board Resolution. I am one of the Director
of the CD No. 1, herein and the CD No. 3, is also one of the Director of the CD
No.1, herein M/s. Apurba Overseas Private Limited. I and the CD No.3 are the
Directors and the Guarantors. I am Competent to swear this Affidavit.
2. That since the OTS proposal is pending and substantial payment has been
made,
continuation of coercive recovery proceedings, including submission of assets,
may adversely affect the ongoing settlement process and cause irreparable
prejudice to the deponent.
3. That the deponent undertakes not to transfer, alienate, or encumber
any movable or immovable property pending consideration of the OTS proposal by
the Bank.
4. That the deponent therefore prays that this Hon’ble Recovery Officer may
be pleased to keep the recovery proceedings in abeyance till the Bank decides
on the pending OTS proposal, and to pass such further or other order as may be
deemed fit and proper in the interest of justice.
5.
That the
above statements are true to the best of my knowledge and belief.
DEPONENT
Identified by
me,
Advocate
Prepared in my Chamber,
Advocate
Date : ____day of November’
2025;
Place :
Kolkata, West Bengal
NOTARY
Before the Hon’ble Recovery Officer
In the Debts Recovery Tribunal Kolkata–1,
9th Floor,
Jeevan Sudha Building, 42-C, Jawahar Lal Nehru Road, Kolkata – 700071
I.A. No. ______of 2025
in
RC/64/2024
in
OA/251/2009
In the matter
of;
Bank of
Baroda,
________Applicant/CHB
- Versus–
M/s. Apurba Overseas Private Limited and Others,
________Defendants/CD
APPLICATION FOR KEEPING IN ABEYANCE THE RECOVERY PROCEEDINGS IN VIEW OF
PENDING ONE-TIME SETTLEMENT PROPOSAL AND PART PAYMENT OF ₹10,94,894.80/-
Advocate-On-Record;
Ashok Kumar Singh, Advocate
