Allowed

Punjab National Bank v. Shri Imran Khan

DRT13 May 2025OA/308/2022

Case brief

AI extract

What is this about?

The Tribunal allowed the bank's original application for recovery of a housing loan shortfall. The bank recovered the principal, interest, and costs, and was granted the power to auction mortgaged and personal assets to satisfy the debt.

What did the court decide?

Recovery certificate issued for Rs. 1,04,16,689/- including interest; bank directed to recover from sale of mortgaged property and other assets.

Punjab National Bank versus Shri Imran Khan — Execution and Attachment | DRT (2025)

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“ORIGINALAPPLICATION” No. 308 of 2022

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BEFORE THE DEBTS RECOVERY TRIBUNAL, JAIPUR

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PRESENT- SHRI VIMAL GUPTA

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PRESIDING OFFICER

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O.A. NO. 308 OF 2022

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DATE OF DELIVERY OF ORDER 13.05.2025

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Punjab National Bank A body corporate constituted and existing under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 (Act No. V of 1970) having its Head Office at Plot No. 4, Sector 10, Dwarka, New Delhi-110075 and a Brach, amongst other places, at Jassusar Gate, Bikaner and Recovery Office at Circle Sastra Centre, Circle Office-Bikaner (Rajasthan).

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…..Applicant Bank…..

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VERSUS

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1. Shri Imran Khan S/o Shri Basir Ahmed, Address: Tanziyon ki Chowki, Salaavation Ka Mohalla, Sarvoday Basti, Bikaner, Rajasthan.

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……Defendants…..

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Counsel for the Applicant Bank Sh. Vikas Jain Defendants

Ex-parte

OA No. 308 of 2022

JUDGMENT

This Original Application was filed by the applicant bank on 19.02.2022 for recovery of outstanding amount of Rs. 1,04,16,689/- from the Defendants.

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As per the pleadings, Defendant represented as principal borrower had approached the applicant bank for availing Housing Loan facility. After due consideration, Housing Loan facility was sanctioned by the Applicant Bank in favour of Defendant in the year 2016 vide sanction letter dated 06.09.2016 for a total sum of Rs. 97.50 Lacs. Defendant failed to maintain financial discipline and therefore, their loan account was classified as NPA on 30.09.2021. Applicant Bank has therefore, filed this original application for recovery of its dues against the Defendants.

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Summons were issued to the Defendants on 09.05.2022 vide order dated 28.03.2022 through registered post and daily news paper. None appear for defendants. All were proceeded ex-parte on 10.05.2023. Counsel for the Applicant bank failed to serve the summons by hand, therefore, bank served the summons to the defendant through Court Commissioner appointed by the Tribunal. In this matter, Court Commissioner has filed the report and it is very unfortunate that the brother of the defendant had misbehaved with the Court Commissioner and by intervention of the neighbors the situation came to under control. This behavior of the brother of the defendant is not acceptable. For this conduct, the bank, if so desires, may lodged FIR against

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OA No. 308 of 2022

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him. Despite Service none appeared on behalf of the defendants shows that there is no defence. This shows that they do not wish to contest the case.

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Heard arguments and perused the record.

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As stated supra, the Applicant Bank filed the evidence affidavit coupled with the recitals in the documents, viz Exhibit A/1 to A/16 marked on behalf of the applicant bank, clinches the claim of the applicant bank against the Defendant. Hence, I hold that the Defendants is liable to pay to the applicant bank the claim made in O.A. with future interest and costs.

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In the result, this O.A. No. 308 of 2022 is allowed declaring that:-

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a) The Defendant is liable to pay to the applicant bank a sum of Rs. 1,04,16,689/- (Rupees One Crore Four Lac Sixteen Thousand Six Hundred and Eighty Nine) with pendent-lite and future interest at the contractual rate which is @ 7.60% p.a. with monthly rest with additional interest @ 2% for defaulted amount from 01.02.2022 to till realization or payment of outstanding amount.

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b) The applicant bank is entitled to recover the above amount from the sale of hypothecated assets and mortgaged properties – 1) 1^st Floor, Inside Kotgate, Sabji Mandi, Bikaner, Rajasthan. measuring 670.50 Sq. Feet as well as from the personal movable and immovable properties/assets of Defendants. The applicant

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OA No. 308 of 2022

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bank is entitled to proceed against the same towards recovery of its debt.

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c) The applicant bank is entitled to the costs of the O.A.

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The recovery certificate be issued forthwith and be sent to the Recovery Officer, DRT, Jaipur.

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Parties are directed to appear before the Recovery Officer, DRT, Jaipur on 28.07.2025 .

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Prepare Recovery Certificate accordingly.

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A copy of the Judgment and Recovery Certificate be given or sent by registered post to each of the parties free. A copy of the Recovery Certificate be sent to the Recovery Officer of this Tribunal for necessary action as per the law.

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(Vimal Gupta) Presiding Officer, Debts Recovery Tribunal, Jaipur

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Order pronounced in the open court today i.e. 13.05.2025 .

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(Vimal Gupta) Presiding Officer, Debts Recovery Tribunal, Jaipur

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Signed & uploaded on 23.05.2025

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OA No. 308 of 2022

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BEFORE THE DEBTS RECOVERY TRIBUNAL, JAIPUR

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PRESENT- SHRI VIMAL GUPTA

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PRESIDING OFFICER

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O.A. NO. 308 OF 2022

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DATE OF DELIVERY OF ORDER 13.05.2025

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RECOVERY CERTIFICATE

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(UNDER SUB Section 22 of the Recovery of Debts due to Banks and Financial Institutions Act, 1993 (Act 51 of 1993)

…..Applicant Bank…..

VERSUS

1. Shri Imran Khan S/o Shri Basir Ahmed, Address: Tanziyon ki Chowki, Salaavation Ka Mohalla, Sarvoday Basti, Bikaner, Rajasthan.

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……Defendants…..

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Recovery Certificate for Rs. 1,04,16,689/-

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In terms of final order dated 13.05.2025 passed by this Tribunal in the above mentioned case, it is ordered that the-

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a) The Defendant is liable to pay to the applicant bank a sum of Rs. 1,04,16,689/- (Rupees One Crore Four Lac Sixteen Thousand Six Hundred and Eighty Nine) with pendent-lite and future interest at the contractual rate which is @ 7.60%

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OA No. 308 of 2022

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p.a. with monthly rest with additional interest @ 2% for defaulted amount from 01.02.2022 to till realization or payment of outstanding amount.

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c) The applicant bank is entitled to the costs of the O.A.

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Parties are directed to appear before the Recovery Officer-II, DRT, Jaipur on 28.07.2025 .

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The Recovery Officer shall realize the amount as per this Certificate in the manner and mode prescribed under Section 25 and 28 of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 (as amended from time to time) from the above named Certificate Debtor.

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This Certificate has been issued under my signatures and seal of the Tribunal on this 13.05.2025.

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(Vimal Gupta) Presiding Officer, Debts Recovery Tribunal, Jaipur

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OA No. 308 of 2022

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BEFORE THE DEBTS RECOVERY TRIBUNAL, JAIPUR

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PRESENT- SHRI VIMAL GUPTA

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PRESIDING OFFICER

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O.A. NO. 308 OF 2022

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DATE OF DELIVERY OF ORDER 13.05.2025

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SCHEDULE TO RECOVERY CERTIFICATE

MEMO OF COST

…..Applicant Bank…..

VERSUS

1. Shri Imran Khan S/o Shri Basir Ahmed, Address: Tanziyon ki Chowki, Salaavation Ka Mohalla, Sarvoday Basti, Bikaner, Rajasthan.

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……Defendants…..

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S.No.	Item of Costs	Amount (Rs.)
1	Fee on the Application	1,07,005.00
2	Process Fee (Inc. Publication)	160.00
3	Advocate Fee	1,250.00
4	Commission/Receiver/Valuation	10,000

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OA No. 308 of 2022

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5.	Miscellaneous Charges	NIL
	Total	1,18,415.00

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(Vimal Gupta) Presiding Officer, Debts Recovery Tribunal, Jaipur

OA No. 308 of 2022

13.05.2025

Counsel:

Sh. Vikas Jain, Counsel for Applicant Bank Defendants are exparte

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Judgment dictated separately and pronounced in the open court. As per order the O.A. is allowed. Recovery Certificate be prepared accordingly and the Registry is directed to verify the Recovery Certificate as per Regulation 24(1) and (2) of Debts Recovery Tribunal Jaipur Regulation 2015 and after verification place the same before the Tribunal.

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(Vimal Gupta) Presiding Officer, Debts Recovery Tribunal, Jaipur

OA No. 308 of 2022

13.05.2025

Counsel:

Sh. Vikas Jain, Counsel for Applicant Bank Defendants are exparte

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The Tribunal vide order dated 13.05.2025 , directed the Registrar to verify the Recovery Certificate as per Regulation 24(1) and (2) of Debts Recovery Tribunal Jaipur Regulation 2015.

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The Registrar vide order dated 13.05.2025 verified the Recovery Certificate as per Regulation 24(1) and (2) of Debts Recovery Tribunal Jaipur Regulation 2015. Recovery Certificate is prepared accordingly. Copy of the Judgment and Recovery Certificate be given free to the concerned parties as well as be sent to the Recovery Officer for further proceedings. File be put up before the Registrar for compliance. After compliance file be consigned to record.

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(Vimal Gupta) Presiding Officer, Debts Recovery Tribunal, Jaipur

Punjab National Bank v. Shri Imran Khan

Case brief

What is this about?

What did the court decide?

Punjab National Bank v. Shri Imran Khan

Case brief

What is this about?

What did the court decide?

What the court decided

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Statutes considered

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