The Debts Recovery Tribunal allowed the applicants bank's original application for recovery of an outstanding overdraft facility and interest suit against defaulting borrowers who were absent.
Direction to pay Rs.44,78,085/- with interest and future interest; recovery from sale of hypothecated stocks, book debts, movable and immovable properties.
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0.A. No.75 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. 75 of 2023
Punjab National Bank Circle Sastra North Delhi 3rd Floor, Vikrant Tower Rajendra Place, Delhi-110008 Applicant Versus 1. M/s Taj Packaging B-183, 2nd Floor Near Sabzi Mandi Azadpur, Delhi-110033 Also at: Plot No.1455, DSIIDC District Sonipat, Haryana 131001 2.Sh.Ravi Kumar s/o Dale Ram (Partner) H.No.454, 40 Feet Road, Satguru Farm Opp. Maruti Co. Gate no.1 Molahera, Gurugram-122015 Haryana 3.Sh.Jaggi Sonker s/o Deep Chander (Partner) H.No.1/33, Near Kushal Cinema, Jahangir Puri, North West Delhi Defendants Delhi-110033
Present: Sh.Anshuman Srivastava, Counsel for applicant Bank Date of Institution: 06.12.2022 Date of Pronouncement: 04.07.2025
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O.A. No.75 of 2023
FINAL ORDER
This original application has been filed by the applicant bank on 06.12.2022 through Shri Vivek Kumar, authorized representative of the applicant bank under Section 19 of Recovery of Debts and Bankruptcy Act,1993 against the defendant for recovery of a sum of Rs.44,78,085/- (Rupees Forty Four Lacs Seventy Eight Thousand Eighty Five only) as on 31.10.2022 together with pendentelite and future interest @9.10% per annum with monthly rests from the date of filing of this application with costs.
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O.A. No.75 of 2023
regularize the account despite regular follow up by the applicant bank. The applicant bank classified the account as NPA on 01.07.2021 and issued loan recall notice dated 26.07.2021 and but defendants failed to regularize the accounts. Hence, the applicant bank has approached this tribunal for recovery of their dues.
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O.A. No.75 of 2023
10.In the light of the above discussions, the Original Application deserves to be allowed.
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.44,78,085/- (Rupees Forty Four Lacs Seventy Eight Thousand Eighty Five only) as on 31.10.2022 together with pendentelite and future interest @9.10 per annum with monthly rests from the date of filing of this application till the date of realization failing which the aforesaid amount shall be recovered from the sale of hypothecated stocks 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.
(III)Parties are directed to appear before Recovery Officer, DRT I, Delhi on 03.09.2025.
(IV)Copies of final order as well as Recovery Certificate be sent to all concerned free of cost.
-•)-0 (GOVIND BALLABH SHARMA) PRESIDING OFFICER DRT-I, DELHI
(Dictated and pronounced in open court) Dated: 04.07.2025
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1 issue framed by the court
Whether the applicants are entitled to recover dues under Section 19 of the Recovery of Debts and Bankruptcy Act.
2 provisions across 2 enactments
Punjab National Bank
M/s Taj Packaging
Sh.Ravi Kumar
Sh.Jaggi Sonker
Shri Govind Ballabh Sharma
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
