The DRT allowed the bank's application for recovery of Rs. 27 lakhs against loan defaulting borrowers. Proceeding ex-parte, the court awarded principal with reduced interest at 12% p.a. and directed issuance of a recovery certificate.
Direct defendants to pay Rs. 27,00,501/- plus interest at 12% p.a. and costs; declare assets for recovery.
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O.A. No. 924 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.924 of 2023
Canara Bank
(e-Syndicate Bank) National Physical Laboratory
Pusa, Dr.K.S.Krishnan Road, Delhi-12
Applicant
Versus
R/o 1888, 1st Floor, Multani Mohalla Rani Bagh, North West Delhi-110034
R/o 1888, 1st Floor, Multani Mohalla Rani Bagh, North West Delhi-110034 Defendants
Present: Shri Saurabh Kushawaha, Counsel for applicant bank
Date of Reserve: 25.11.2025
Date of Pronouncement: 15.12.2025
FINAL ORDER
This original application has been filed by the applicant bank on 12.01.2023 through Shri Saurabh Gupta, authorized representative of the applicant bank under Section 19 of Recovery of Debts and Bankruptcy Act, 1993 against the
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O.A. No. 924 of 2023
defendant for recovery of a sum of Rs.27,00,501/- (Rupees Twenty Seven Lacs Five Hundred One only) as on 27.09.2023 along with pendentelite and future interest @18.00% per annum with monthly rests from 27.09.2023 till the date of realization along with costs.
0.A. No. 924 of 2023
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O.A. No. 924 of 2023
ORDER
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.27,00,501/- (Rupees Twenty Seven Lacs Five Hundred One only) as on 27.09.2023 together with
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O.A. No. 924 of 2023
pendentelite and future interest @12.00% per annum 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 stocks and book debts etc. In case of shortfall, the same shall be recovered from the sale of movable and immovable properties of the defendant.
(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 Officer, DRT I, Delhi on 13.02.2026.
(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: 15.12.2025
2 issues framed by the court
Whether the applicant bank is entitled to recover the outstanding loan amount along with interest.
Whether the interest rate awarded should be adjusted in light of global and domestic trends.
Colour shows how this judgement treated each authority
Central Bank of India Vs. Ravindra & OthersReferred¶34
2 provisions across 2 enactments
Canara Bank
M/s Dhanya Enterprises
Neetu Sachdeva
Parvesh Sachdeva
Govind Ballabh Sharma
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
