The Debt Recovery Tribunal allowed the bank's application for recovery of dues of Rs. 3.98 crores against absent defendants. The court directed payment with interest at 12% p.a. and authorized recovery via sale of mortgaged properties.
Direct defendants to pay Rs. 3,98,29,559.42 plus 12% p.a. interest within 30 days; recovery from sale of properties on default.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
T.A. No.3255 of 2022
Debts Recovery Tribunal-I, Delhi 4thfloor, Jeevan Tara Building, Parliament Street, New Delhi
Presiding Officer: Shri Govind Ballabh Sharma
T.A. No. 3255 of 2022
Punjab National Bank Circle Sastra Centre, East Delhi, CSC, Pocket E, Mayur Vihar Phase II Applicant Delhi-110091
Versus
Also at: X-3470, Basement, New Jain Market Shanti Mohalla, Raghubar Pura No.2 Gandhi Nagar, Delhi-110031
Also at: D-299, UGF Anand Vihar Delhi-110092
Sh.Anand Sharma sio Kishan Kumar Sharma 3. R/o 88, Gali No.1, Shankar Nagar Krishna Nagar, Delhi-110051
Also at: X-3470, Basement, New Jain Market Shanti Mohalla, Raghubar Pura No.2 Gandhi Nagar, Delhi-110031
Also at:
D-299, UGF Anand Vihar Delhi-110092
T.A. No.3255 of 2022
Also at: D-299, UGF Anand Vihar Delhi-110092
Also at: D-2991UGF Anand Vihar Defendants Delhi-110092
Present: Shri M.K.Chaudhary, Counsel for applicant bank
Date of Institution: 18.04.2022 Date of Pronouncement: 21.05.2025
FINAL ORDER
This original application has been filed by the aoplicant bank in DRT-II, Delhi on 18.04.2022 and then transferred to DRT-I through Sh. Surendra Singh, authorized representative of the applicant bank under Section 19 of Recovery of Debts and Bankruptcy Act, 1993 against the defendants for recovery of a sum of Rs.3,98,29,559.42 (Rupees Three Crores Ninety Eight Lacs Twenty Nine Thousand Five Hundred Fifty Nine and Paisa Forty Two only) as on 13.04.2022 along with pencientelite and future interest @13.30% per annum plus 2% penal interest with monthly rests from the date of filing this application till the date of its realization and costs.
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T.A. No.3255 of 2022
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T.A. No.3255 of 2022
Raghubar Pura No.2, Gandhi Nagar, Delhi owned by defendant no.1;
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30.06.2016, 10.06.2019 and lastly on 31.12.2019 towards the applicant bank.
T.A. No.3255 of 2022
58/2005) Ex.PW-1/6, Letters of Intent of defendant no.1,3,4,5 Ex.PW-1/7 to Ex.PW-1/9, Letter of Acknowledgements (Annexure IIIA) Ex.PW-1/10 to Ex.PW-1/12, Balance and Security Confirmation Letters Ex.PW-1/13 to Ex.PW-1/16, Duly Accepted Sanction Letter Ex.PW-1/17, Debtor-Creditor Agreement Ex.PW-1/18, Funded Interest Term Loan Ex.PW1/19, Demand Notice Ex.PW-1/20, Postal Receipts Ex.PW-1/21, Reply u/s 13(3) Ex.PW-1/22, Reply u/s 13(3A) Ex.PW-1/23, Postal Receipts Ex.PW-1/24, Possession Notice Ex.PW-1/25, Sale Deeds of Mortgaged Properties Ex.PW-1/26 to Ex.PW1/30, Statement of Cash Credit Account Ex.PW-1/31, Statement of FITL account Ex.PW-1/32.
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 proved.
11.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.
Scr-
T.A. No.3255 of 2022
rates of interest globally and domestically, I am of the opinion that interest of justice will be served if the interest at the rate of 12% p.a. is awarded.
ORDER
allow this OA and direct the defendants to pay to the applicant bank within a period of 30 days a sum of Rs.3,98,29,559.42 (Rupees Three Crores Ninety Eight Lacs Twenty Nine Thousand Five Hundred Fifty Nine and Paisa Forty Two only) as on 13.04.2022 along with pendentelite and future interest @12.00% per annum from the date of filing this application till its realization with costs; failing which the aforesaid amount shall be recovered from the sale of hypothecated stocks, book debts and following mortgaged properties:
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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 21.07.2025.
(IV) Copies of final order as well as Recovery Certificate be sent to all concerned free of cost.
(GOVIND BALLABH SHARMA) PRESIDING OcFICER DRT-I, DELHI
(Dictated and pronounced in open court) Dated: 21.05.2025
2 issues framed by the court
Whether the original application for recovery of debt dues filed by the bank under the RDBFI Act deserves to be allowed despite the defendant's absence.
What rate of interest should be awarded on the outstanding dues considering the fall in global and domestic interest rates.
Colour shows how this judgement treated each authority
Central Bank of India Vs. Ravindra & OthersExplained¶49
Central Bank of India Vs. Ravindra & Others
2 provisions across 1 enactments
Punjab National Bank
Ashish Sharma
Anand Sharma
Juhi Sharma
Beena Sharma
Govind Ballabh Sharma
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
