On an application for recovery against absent defendants, the Debts Recovery Tribunal allowed the bank's claim for principal and interest at a discretionary rate of 12% p.a., ordering recovery from hypothecated assets or sale of property.
Defendants directed to pay Rs.1,12,36,621.74 with 12% annual interest and costs.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
O.A. No. 297 of 2024
Debts Recovery Tribunal-I, Delhi 4th floor, Jeevan Tara Building, Parliament Street, New Delhi
Presiding Officer: Shri Govind Ballabh Sharma
O.A. No.297 of 2024
Punjab National Bank F2/23, Krishna Nagar Near Vijay Chowk, Delhi-110051 Applicant
Versus
Also at: N-72, Uldhanpur, Naveen Shandara, Delhi-110032
Present: Shri Raghav Sharma, Counsel for the applicant bank
Date of Institution: 12.12.2025
Date of Pronouncement: 23.12.2025
FINAL ORDER
This original application has been filed by the applicant bank on 06.09.2018 before DRT-III, Delhi and then transferred to DRT-1, Delhi through Ms. Durgawati Kumari, authorized representative of the applicant bank under Section 19 of Recovery of Debts Due to Banks and Financial Institutions Act,
O.A. No. 297 of 2024
1993 against the defendants for recovery of a sum of Rs.1,12,36,621.74/- (Rupees One Crore Twelve Lacs Thirty Six Thousand Six Hundred Twenty One and Paisa Seventy Four only) along with pendentelite and future interest @13.25% per annum with monthly rests in CC (Hyp) and interest @9.25% per annum with monthly rests in WCTL under GECL from the date of filing this application till the date of realization along with costs. Further, the name of Mr. Alok Kumar was substituted as authorized representative in place of Ms. Durgawati Kumari, erstwhile AR for the applicant bank.
2
O.A. No. 297 of 2024
agreement, Undertakings, Affidavits, Intent letter with the applicant bank.
O.A. No. 297 of 2024
hypothecation of assets, Common agreement, Counter agreement, Undertakings, Affidavits, Agreement of guarantee, Intent letter, Supplemental agreement, Letter of Continuity, Master agreement, Agreement for WCTL, Balance and Security Confirmation letters, Notice under Section 13(2) of SARFAESI Act, Statement of Account certified as per Bankers' Books Evidence Act as Annexure Al to A-55.
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O.A. No. 297 of 2024
ORDER
I, allow this OA and direct the defendants to pay to the applicant bank, jointly or severally, within a period of 30 days, a sum of Rs.1,12,36,621.74/- (Rupees One Crore Twelve Lacs Thirty Six Thousand Six Hundred Twenty One and Paisa Seventy Four only) together with pendentelite and future interest @12% per annum with monthly rests from the date of filing this application till the date of realization and costs; failing which the aforesaid amount shall be recovered from the sale of hypothecated stock, book debts and mortgaged property i.e. Residential property at N-72, old no.1619/43, (1st and 2nd floor with roof rights), forming part of Khasra no.282-290, Uldhanpur, Naveen Shandara, Delhi-110032 measuring 50 sq. yards. In case of shortfall, the same shall be recovered from the sale of movable and immovable properties of the defendants.
(II) The recovery certificate be issued forthwith and be sent to the Recovery Officer, Debt Recovery Tribunal-I, Delhi.
(III) Parties are directed to appear before the Recovery I Officer, DRT I, Delhi on 20.02.2026.
(IV) Copies of final order as well as Recovery Certificate be sent to all concerned free of cost.
Cd- -- Le I'S (GOVIND BALLABH SHARMA) PRESIDING OFFICER DRT-I, DELHI
(Dictated and pronounced in open court) Dated: 23.12.2025
2 issues framed by the court
Whether the applicant bank is entitled to recovery of dues with interest.
What rate of interest should be awarded considering global and domestic fall in rates.
Colour shows how this judgement treated each authority
Central Bank of India Vs. Ravindra & OthersDistinguished¶31
Central Bank of India Vs. Ravindra & Others
3 provisions across 3 enactments
Punjab National Bank
M/s Shubh Foods Products Co.
Mr. Shailender Kumar Aggarwal
Mr. Manoj Kumar Aggarwal
Govind Ballabh Sharma
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
