Allowed

Central Bank of India v. Dinesh Chand Alias Dinesh Kumar

DRT29 Dec 2025TA/3244/2022

Case brief

AI extract

What is this about?

In an ex-parte application filed by a bank for recovery of a loan with interest secured by hypothecation and mortgage, the Tribunal allowed the claim against absent defendants and ordered recovery of dues. This is a procedural disposition allowing the original application.

What did the court decide?

Recovery of Rs.61,36,119.64 with interest from 01.10.2020, enforceable via sale of hypothecated and mortgaged properties.

Central Bank of India versus Dinesh Chand Alias… — Contract and Commercial Disputes | DRT (2025)

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T.A. No. 3244 of 2022

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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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T.A. No.3244 of 2022

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Central Bank of India

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Akshardham Branch

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U-38-B, School Block

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Shakarpur, Delhi-110092 Applicant

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Versus

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Sh. Dinesh Chand alias Dinesh Kumar s/o Sh. Lakhmi Chand

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Proprietor of M/s Puja Enterprises

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317, 3rd floor, R-22, Khaneja Complex Shakarpur Market, Shakarpur, Delhi-110092

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Also at: D-15/B, 674 D-Block Gali no.5, Ganesh Nagar-II Shakarpur, Delhi-110092

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Smt. Santosh Kumari w/o Sh.Dinesh Chand alias Dinesh Kumar D-15/B, 674 D-Block Gali no.5, Ganesh Nagar-II Shakarpur, Delhi-110092 Defendants

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Present: Ms. Seema Gupta, Counsel for the applicant bank Date of Reserve: 17.12.2025

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Date of Pronouncement: 29.12.2025

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FINAL ORDER

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This original application has been filed by the applicant bank before DRT-II, Delhi on 06.10.2020 and then transferred to DRT-I Delhi under Section 19 of Recovery of Debts and Bankruptcy Act, 1993 against the defendants for recovery of

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T.A. No. 3244 of 2022

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sum of Rs.61,36,119.64 (Rupees Sixty One Lacs Thirty Six Thousand One Hundred Nineteen and paisa Sixty Four only) as on 30.09.2020 along with pendentelite and future interest @9.10% per annum with monthly rests plus penal interest @2% per annum from the date of filing of this application till the date of realization with costs.

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The brief facts of the case are that on the request of the defendants, the applicant bank sanctioned Cash Credit limit for a sum of Rs.20.00 Lacs (Rupees Twenty lacs only) on 12.06.2013 @13.25% interest per annum with monthly rests against hypothecation of stocks in trade and mortgage of property for trading business of garments, hosiery items etc. which was renewed from time to time and enhanced to Rs.48.00 Lacs on 22.01.2016 @12.70% interest per annum with monthly rests. The defendant no.2 stood as guarantor for the loan facilities sanctioned in favour of the defendant no.1.

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In order to avail the loan facility, the defendants submitted loan application and executed Letter of Proprietorship, Demand Promissory note, Letter of Interest, Letter of Continuity, Agreement of Hypothecation, Letter of Waiver, Supplementary agreement, Consent clause, Letter of Declaration with the applicant bank on 12.06.2013. The defendant no.2 executed continuing guarantee on 12.06.2013 and extended further at the time of renewal and enhancement of limit.

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That in order to avail the credit facility, the defendant no.1 created equitable mortgage of property being

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T.A. No. 3244 of 2022

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Office Pvt. Office Pvt. No.317 (Part of old Office No.10,11,12), on 3rd Floor, Part of property no. R-22 (built on plot no.R-1, R-22, R-23A) admsg 200 sq.ft., out of Khasra No.473 Khaneja Complex, Rita Block, Main Market Shakarur, Village Mandawali Fazalpur, Delhi;

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Office Pvt. No.318 (Part of old Office No.10,11,12), on 3rd Floor, Part of property no. R-22 (built on plot no.R-1, R-22, R-23A) admsg 45 sq.ft., out of Khasra No.473, Khaneja Complex, Rita Block, Main Market Shakarur, Village Mandawali Fazalpur, Delhi.

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on 22.01.2016 and extended further on 17.03.2017 by depositing original Sale Deed dated 24.07.2009, GPA, WILL Agreement to Sell, Affidavit, Possession Letter, Receipt etc. dated 08.02.2005, 18.4.2001, 18.12.1998 and 13.11.1998.

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The Defendants acknowledged the outstanding liability towards the applicant bank on 28.11.2018.

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It has been submitted by the applicant bank that after availing the loan facility, the defendants failed to comply with the terms and conditions of sanction and failed to regularize the account with the applicant bank. Ultimately, the applicant bank issued notices dated 16.01.2019 and 16.03.2019 for regularization and classified the account as NPA on 29.03.2019 as per RBI guidelines. The defendant no.1 requested for TOD of Rs.25.00 lacs or enhancement of limit to Rs.75.00 lacs which was rejected and applicant bank issued notice dated 30.07.2019 to clear the entire outstanding amount.

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Notices under Section 13(2) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act 2002 was issued on 06.12.2019 to the defendants

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T.A. No. 3244 of 2022

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by the applicant bank and took symbolic possession of the mortgaged property on 26.08.2020 but defendants failed to regularize the account. Hence, the applicant bank has approached this Hon'ble tribunal for recovery of their dues.

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Notices of this O.A. were issued to the defendants and despite of proper service, the defendants have chosen to absent from the proceedings. As per order dated 17.112025, the defendants have been proceeded ex-parte as they have not appeared before the Tribunal and even written statement, evidence and affidavit of assets have not been filed by the defendants.

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In order to prove its case, the applicant bank has filed its evidence by way of Affidavit of Shri Shashi Prakash, authorized representative of the applicant bank who has proved the documents Power of Attorney, Loan application alongwith Guarantor's consent letter, Appraisal cum sanction letter, Letter of Proprietorship, Demand Promissory Note, Letter of Waiver, Letter of Interest, Letter of Continuity, Agreement of Hypothecation, Agreement of Guarantee, Title Deed, Stamped Declaration and Undertaking, Agreement to Sell, Receipts, copies of GPA, Sale Deeds, Supplementary Agreement, Request Letters, Notices, Postal Receipts, Notice u/s 13(2), Statement of Account alongwith Certificates under Banker's Books Evidence Act, Calculation Sheet marked as Ex.AW-1/1 to Ex.AW-1/99.

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10.^{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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T.A. No. 3244 of 2022

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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.

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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 defendants to pay to the applicant bank, jointly or severally, within a period of 30 days, a sum of Rs.61,36,119.64 (Rupees Sixty One Lacs Thirty Six Thousand One Hundred Nineteen and Paisa Sixty Four only) as on 30.09.2020 together with pendentelite and future interest ©11.10% per annum with monthly rests from 01.10.2020 till the date of realization and costs; failing which the amount shall be recovered from the sale of hypothecated stocks and mortgaged property being

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Office Pvt. No.317 (Part of old Office No.10,11,12), on 3rd Floor, Part of property no. R-22 (built on plot no.R-1, R- 22, R-23A) admsg 200 sq.ft., out of Khasra No.473 Khaneja Complex, Rita Block, Main Market Shakarur, Village Mandawali Fazalpur, Delhi;

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Office Pvt. No.318 (Part of old Office No.10,11,12), on 3rd Floor, Part of property no. R-22 (built on plot no.R-1, R- 22, R-23A) admsg 45 sq.ft., out of Khasra No.473, Khaneja Complex, Rita Block, Main Market Shakarur, Village Mandawali Fazalpur, Delhi.

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In case of shortfall, the same shall be recovered from the sale

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of movable and immovable properties of the defendants.

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T.A. No. 3244 of 2022

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(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 27.02.2026.
(IV)Copies of final order as well as Recovery Certificate be sent to all concerned free of cost. _50/ _ A (GOVIND BALLABH SHARMA) PRESIDING OFFICER DRT-I, DELHI
(Dictated and pronounced in open court) Dated: 29.12.2025

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Central Bank of India v. Dinesh Chand Alias Dinesh Kumar

Case brief

What is this about?

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Central Bank of India v. Dinesh Chand Alias Dinesh Kumar

Case brief

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