Debts Recovery Tribunal-I, Delhi allowed an original application filed by Punjab National Bank for recovery of outstanding dues from defaulted borrowers who failed to honor loan commitments under various credit facilities.
Directed defendants to pay Rs. 2,58,11,204.94 with interest within 30 days; recovery certificate issued to Recovery Officer.
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O.A. No.49 of 2023
Debts Recovery Tribunal-I, Delhi 4th floor, Jeevan Tara Building, Parliament Street, New Delhi
Presiding Officer: Shri Govind Ballabh Sharma
O.A. No. 49 of 2023
Punjab National Bank
(Erstwhile Oriental Bank of Commerce) Circle SASTRA, East Delhi, Mayur Vihar Phase II Pocket E, CSC, Delhi-110091
Applicant
Versus
Sh. Mohit Gupta s/o Suresh Gupta 6112/8, Ramdev Market Khari Baoli, Delhi-110006
D-9/16, 2nd Floor, Phase-2 Model Town, Delhi-110009
Also at:
Sh. Mohit Gupta s/o Suresh Gupta S-P 02, Amrapali Zodiac, Sector 120 Noida, GB Nagar Uttar Pradesh-201301
Defendants
Present: Sh. Santosh Kumar Rout, Counsel for applicant Bank
Date of Reserve: 15.10.2025
Date of Pronouncement: 19.11.2025
FINAL ORDER
This original application has been filed by the applicant bank on 15.12.2022 through Shri H.S. Kardam, authorized representative of the applicant bank under Section 19 of
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O.A. No.49 of 2023
Recovery of Debts and Bankruptcy Act,1993 against the defendant for recovery of a sum of Rs.2,58,11,204.94 (Rupees Two Crores Fifty Eight Lacs Eleven Thousand Two Hundred Four and paisa Ninety Four only) as on 31.10.2022 together with pendentelite and future interest @10.75% per annum plus @3.75% (spread) with monthly rests from 01.11.2022 and penal interest @2.00% till the realization with costs.
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O.A. No.49 of 2023
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Notice, Demand Notice u/s 13(2) of SARFAESI Act marked as Ex.AW-1/1 to Ex.AW-1/33.
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.2,58,11,204.94 (Rupees Two Crores Fifty Eight Lacs Eleven Thousand Two Hundred Four and paisa Ninety Four only) as on 31.10.2022 together with pendentelite and future interest @10.75% per annum with monthly rests from 01.11.2022 till the date of realization failing which the aforesaid amount shall be recovered from the sale of hypothecated stock and book debts etc. 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.
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(III) Parties are directed to appear before Recovery Officer, DRT I, Delhi on 16.01.2026.
(IV) Copies of final order as well as Recovery Certificate be sent to all concerned free of cost.
(GOVIND BALLABH SHARMA) PRESIDING OFFICER DRT-I, DELHI
(Dictated and pronounced in open court) Dated: 19.11.2025
2 issues framed by the court
Whether the applicant bank is entitled to recovery of dues from the defaulting borrowers under the RDB Act.
Whether the original application filed for recovery of credit facility should be allowed.
2 provisions across 2 enactments
Punjab National Bank
M/s S.M. Agro Products Through its Proprietor Sh. Mohit Gupta
Govind Ballabh Sharma
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
