Allowed

Central Bank of India v. M/S Prenda Enterprises

DRT20 Dec 2025OA/842/2023

Case brief

AI extract

What is this about?

The DRT allowed the bank's application for recovery of dues of Rs. 28,70,948.50 plus interest and costs against the defendant who failed to appear, permitted the bank's documentary evidence unrebutted, and directed payment within 30 days or via sale of hypothecated assets.

What did the court decide?

M/s Prenda Enterprises directed to pay Rs. 28,70,948.50 with interest and costs within 30 days; failing which, recovery via sale of hypothecated stock and properties.

Central Bank of India versus M/S Prenda Enterprises — Contract and Commercial Disputes | DRT (2025)

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O.A. No. 842 of 2023

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Debts Recovery Tribunal-I, Delhi 4th floor, Jeevan Tara Building, Parliament Street, New Delhi

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Presiding Officer: Shri Govind Ballabh Sharma

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O.A. No.842 of 2023

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Central Bank of India

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Raj Nagar Extension Ghaziabad, UP-201017

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Applicant

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Versus

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M/s Prenda Enterprises Through its Proprietress — Smt.Manisha w/o Sh.Amar Goswami

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House No.181, Second Floor Gali No.2, Padam Nagar, North Delhi-110007

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Also at:

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M/s Prenda Enterprises Through its Proprietress — Smt.Manisha Office No.311, 3rd Floor, Laxmi Building District Centre, Laxmi Nagar, Delhi-92

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Also at:

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M/s Prenda Enterprises Through its Proprietress — Smt.Manisha B-7/202, Gaur Plaza, Shalimar Garden Sahibabad, Ghaziabad, UP-201005

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Defendant

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Present: Dr.Manish Kumar, Counsel for the applicant bank

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Date of Reserve: 09.12.2025

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Date of Pronouncement: 20.12.2025

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FINAL ORDER

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This original application has been filed by the applicant bank on 17.10.2023 before DRT-III Delhi and then transferred to DRT-I Delhi under Section 19 of Recovery of Debts and

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O.A. No. 842 of 2023

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Bankruptcy Act, 1993 against the defendant for recovery of Rs.28,70,948.50 (Rupees Twenty Eight Lacs Seventy Thousand Nine Hundred Forty Eight and paisa Fifty only) as of 13.10.2023 along with interest @11.85°/0 per annum together with @2% penal interest from 13.10.2023 till the date of realization with costs.

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The brief facts of the case are that on the request of the defendant through its proprietress Ms. Manisha vide loan application dated 10.07.2017, the applicant bank sanctioned Cash Credit facility of Rs.24,50,000/- (Rupees Twenty Four lacs Fifty Thousand only) on 02.08.2017 @9.90% interest per annum for business purpose against hypothecation of goods under Cent Stand Up Scheme.

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In order to avail the loan facility, the defendant through its proprietress submitted loan application dated 10.07.2017 and executed Sanction Letter for CC limit, General Letter of Hypothecation along with Article of Agreement, Supplementary Agreement, Letter of Continuity, Consent Clause, Letter of Interest, D.P.Note and Letter of Waiver dated 02.082017 and 01.08.2020 in favour of applicant bank.

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It has been submitted by the applicant bank that after availing the aforesaid loan facility, the defendant failed to comply with the terms and conditions of sanction, nonsubmission of stock statement, failed to service the interest and failed to maintain financial discipline as per sanction terms. Ultimately, the applicant bank classified the account as NPA on 31.12.2022 as per RBI guidelines and issued legal demand notice on 09.01.2023 but defendant neglected and not repaid

O.A. No. 842 of 2023

the dues, hence the applicant bank has approached this Tribunal for recovery of their dues.

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Notices of this O.A. were issued to the defendant and despite of proper service, the defendant has chosen to absent from the proceedings. As per order dated 09.12.2025, the defendant has been proceeded ex-parte as not appeared before the Tribunal and even written statement, evidence and affidavit of assets have not been filed by the defendant.

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In order to prove its case, the applicant bank has filed its evidence by way of submitting the copies of documents such as Letter of Authority of AR, Loan Application, Sanction Letter, Agreement of Hypothecation to secure demand Cash Credit against Goods, General Letter of Hypothecation along with Article of Agreement, Supplemental Agreement, Letter of Continuity, Consent Clause, Letter of Interest, Letter of Waiver, NPA Certificate, Legal Demand Notice, Statement of Account, Certificate of other Charges, Certificate under Section 2A as per Bankers' Book of Evidence Act marked as page no.1 to 75.

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The applicant bank has fully corroborated the averments made in the O.A. Even otherwise the whole case of the applicant bank is based on the documents and the same have been duly approved.

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The case filed by the applicant bank gone unrebutted and there is no question of disbelieving the case of the applicant bank and the applicant bank has proved its case beyond reasonable doubts.

cd"--

O.A. No. 842 of 2023

In the light of the above discussions, the Original Application deserves to be allowed.

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ORDER

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I, allow this OA and direct the defendant to pay to the applicant bank within a period of 30 days, a sum of Rs.28,70,948.50 (Rupees Twenty Eight Lacs Seventy Thousand Nine Hundred Forty Eight and paisa Fifty only) as of 13.10.2023 @13.85% with pendentelite and future interest from 13.10.2023 till the date of realization and costs; failing which the aforesaid amount shall be recovered from the sale of hypothecated stock & book debts etc. In case of default / shortfall, the same shall be recovered from the sale of movable and immovable properties of the defendant.

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(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 the Recovery Officer, DRT I, Delhi on 18.02.2026.

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(IV) Copies of final order as well as Recovery Certificate be sent to all concerned free of cost.

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BALLABH SHARMA) PRESIDING OFFICER DRT-I, DELHI

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(Dictated and pronounced in open court) Dated: 20.12.2025

Central Bank of India v. M/S Prenda Enterprises

Case brief

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Central Bank of India v. M/S Prenda Enterprises

Case brief

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