BY REGISTERED POST / SPEED POST / EMAIL / HAND
DELIVERY
WITHOUT
PREJUDICE
Ref. No.: AGE/LAW/1265/2025 Date: 10th November,
2025
To,
The Branch Manager,
Canara Bank, Chowringhee Branch (0145)
7, K.Y.D. Street, Ground Floor,
Kolkata – 700016, West Bengal.
Email: cb0145@canarabank.com
Subject:
Legal Notice for Non-Issuance of “No Dues Certificate” and Non-Release of
Original Title Deeds and Collateral Securities despite Full and Final
Settlement under Quadripartite Agreement dated 20th day of February,
2025 — Demand for Immediate Compliance within Seven (7) Days;
Dear
Sir/Madam,
Under
instructions and on behalf of my client M/s.
Aqua Green Exim Private Limited, a company duly incorporated under the
Companies Act, 2013, having its registered office at 12A, Netaji Subhas Road,
Room No. 20, 1st Floor, Kolkata – 700001, I hereby issue you this Legal Notice as follows;
1. That a Quadripartite Agreement & Mutual Consent
dated 20th day of February,
2025, was executed by and between;
(i) Canara Bank,
Chowringhee Branch (Confirming Party);
(ii) M/s. Global Aqua,
a proprietorship firm represented by Mr.
Jayanta Chowdhury, son of Late Ajoy Chowdhury (Borrower);
(iii)
M/s. Aqua Green Exim Pvt. Ltd. (Third Party Payor /
Successor); and
(iv) UCO Bank, Park Street Branch (Designated Banker).
2. Under the said
Agreement, my client Aqua Green Exim
Pvt. Ltd. undertook to discharge and fully settle all the outstanding
dues of M/s. Global Aqua,
aggregating to ₹13,20,00,000/- (Rupees Thirteen Crore
and Twenty Lakhs only), payable to Canara
Bank, Chowringhee Branch, in consideration of which your Bank was legally bound to;
(a) Issue a “No Dues Certificate” immediately upon full repayment;
(b) Release and hand over all collateral securities, including original title deeds of the secured
properties, without encumbrance; and
(c) Convert and assign the Fixed Deposit of ₹63,79,432/-
(Rupees Sixty-Three Lakhs Seventy-Nine Thousand Four Hundred Thirty-Two only) with accrued
interest in favour of my client.
3. The said Agreement
further provides that time and
performance are the essence, and that the Bank was to act within 24 hours of receiving the
repayment, the performance period ending on 28th February, 2025.
4. In strict compliance
with the Quadripartite Agreement, my client, through its banker UCO Bank, Park Street Branch, duly
remitted the entire outstanding sum to Canara
Bank, thereby effecting full and
final settlement of the loan accounts of M/s. Global Aqua on or before 27th February, 2025.
5. Notwithstanding full
repayment and repeated written communications by my client dated 17.07.2025, 19.08.2025, 27.08.2025,
02.09.2025, 04.09.2025, 05.09.2025, 06.09.2025, 08.09.2025, 10.09.2025,
12.09.2025, 15.09.2025, 16.09.2025, 17.09.2025, 23.09.2025 and 24.09.2025,
your Bank has to;
(a) Issue the No Dues Certificate in favour of M/s.
Global Aqua;
(b) Release and deliver the original title deeds of the mortgaged
immovable properties of Mr. Jayanta
Chowdhury, Proprietor of Global Aqua, more particularly described
hereunder;
(c) Convert the Fixed Deposit and accrued
interest in favour of Aqua Green Exim Pvt. Ltd.; and
(d) Effect necessary changes in the
existing Bank Guarantee and related documents.
6. Your Bank continues
to unlawfully retain the original title
deeds of the following immovable properties belonging to Mr. Jayanta Chowdhury, S/o Late Ajoy
Chowdhury, Proprietor of Global Aqua, despite full settlement of dues;
(i)
All
that property being the land and structure situated at Premises No. 44/1A, Shyamnagar Road, South Dum Dum Municipality, Bangur
Avenue, Jessore Road, North 24 Parganas, West Bengal – 700055,
registered in Book I, CD Volume No. 1,
Pages 2681 to 2693, Being No. 00124 of 2011, in the office of the A.R.A.–II, Kolkata;
(ii)
The
Residential Flat at 3rd Floor, Premises
No. DC–9/15, Deshbandhunagar, P.O.–Deshbandhunagar, P.S.–Baguiati, Kolkata –
700059, bounded on the North by
a 12 ft. wide Road, on the South by land and building of M.L. Banerjee, on the
East by P.W.D. Canal, and on the West by land and building of Sunil Saha,
registered as Deed No. 03619 of 2017
in the office of the Additional
District Sub-Registrar, Rajarhat, New Town, North 24 Parganas.
(iii)
Both
deeds were pledged with your Bank as collateral
security for the loans advanced to M/s. Global Aqua and are now to be released without any encumbrances to
the Designated Representative,
i.e., UCO Bank, Park Street Branch,
IFSC – UCBA0000703, duly authorized to receive the same on behalf of Aqua Green Exim Pvt. Ltd.
7. Your continued
retention of the above title deeds and securities despite full settlement
constitutes;
(i) Breach of Contract
under the Quadripartite Agreement ( 20th
day of February 2025);
(ii) Deficiency in Banking Service under Section 2(11) of the Consumer Protection Act, 2019; and
(iii)
Wrongful Withholding
/ Criminal Breach of Trust.
8. Such wilful
non-compliance also amounts to unfair
trade practice, failure of
fiduciary duty, and deliberate obstruction of lawful business operations
of my client.
Accordingly, I hereby call upon you to;
1.
Issue the “No Dues Certificate” in favour of M/s. Global Aqua within seven (7) days of receipt of this
notice;
2.
Release and deliver the original title deeds of the
aforementioned immovable properties of Mr.
Jayanta Chowdhury, without any encumbrances, to the Designated Representative – UCO Bank, Park
Street Branch, duly authorized by Aqua Green Exim Pvt. Ltd.;
3.
Convert and assign the Fixed Deposit of ₹63,79,432/-
with interest
in favour of Aqua Green Exim Pvt. Ltd.;
and
4.
Provide written confirmation of compliance to the undersigned
within the said period.
Should you fail to
comply within the stipulated period, my client shall be compelled to initiate
appropriate civil, criminal, and
consumer proceedings against Canara Bank and its responsible officers
before the competent authorities, including;
(a) A Consumer Complaint before the Hon’ble
District Consumer Disputes Redressal Commission, Kolkata;
(b) A Civil Suit for enforcement of the
Quadripartite Agreement and recovery of losses; and
(c) Criminal proceedings for wrongful retention and breach of
trust.
All costs, expenses,
losses, and liabilities arising therefrom shall be at your exclusive risk and
responsibility.
This
Notice is issued in good faith and in the interest of amicable compliance.
However, failure to comply shall leave my client with no alternative but to
seek full recourse under law.
Yours faithfully,
Pritilata
Sardar
Advocate
High
Court Calcutta
Cc:
The Regional Manager,
Canara Bank, Recovery Section, Kolkata-I RO,
Email: recrokol1@canarabank.com
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