The Tribunal allowed an application by Punjab National Bank to recover a loan amount of Rs. 31,32,975 from co-borrowers Ashok Kumar and Rekha Devi who failed to repay a housing and overdraft loan. The court fixed future interest at 12% per annum.
Defendants directed to pay Rs. 31,32,975 with future interest at 12% p.a.; recovery certificate issued.
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T.A. No. 3430 of 2022
Debts Recovery Tribunal-I, Delhi 4th floor, Jeevan Tara Building, Parliament Street, New Delhi
Presiding Officer: Shri Govind Ballabh Sharma
T.A. No. 3430 of 2022
Punjab National Bank Electronic City, Sector-63 Noida, Dist. G.B.Nagar, UP-201301
Applicant
Versus
Also at: M/s A.K. Builders C-91, Shop No.6, West Gorakh Park Shandara, Delhi-110032
Also at: M/s A.K. Builders C-91, Shop No.6, West Gorakh Park Shandara, Delhi-110032
Defendants
Present: Sh.K.K.Mudgil, Counsel for the applicant bank
Date of Reserve: 12.12.2025
Date of Pronouncement: 23.12.2025
FINAL ORDER
This original application has been filed by the applicant bank on 30.09.2020 before DRT-III Delhi and then transferred to DRT-I Delhi under Section 19 of Recovery of Debts and Bankruptcy Act, 1993 against the defendants for recovery of a
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T.A. No. 3430 of 2022
sum of Rs.31,32,975/- (Rupees Thirty One Lacs Thirty Two Thousand Nine Hundred Seventy Five only) as on 04.08.2020 along with pendentelite and future interest @24% per annum with monthly rest from 05.08.2020 till the date of realization and costs.
T.A. No. 3430 of 2022
with the terms and conditions and failed to fulfill their legal obligationdespite several reminders but defendants failed to regularize the account in time to the applicant bank. Ultimately, the account was declared NPA on 12.03.2021 by the applicant bank and hence the applicant bank has approached this Tribunal for recovery of their dues. The applicant bank issued recall notice dated 19.04.2021 to defendants to pay the dues but there was no response from the defendants.
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T.A. No. 3430 of 2022
ORDER
I, allow this OA and direct the defendants to pay, jointly or severally, to the applicant bank within a period of 30 days, jointly or severally, a sum of Rs.31,32,975/- (Rupees Thirty One Lacs Thirty Two Thousand Nine Hundred Seventy Five only) as on 04.08.2020 along with pendentelite and future interest ©12.00% per annum with monthly rest from 05.08.2020 and costs till the date of realization, failing which the aforesaid amount shall be recovered from the sale of movable and immovable properties of the defendants as no mortgage of property was created for which housing loan was sanctioned by the applicant bank to the defendants.
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T.A. No. 3430 of 2022
(II) The recovery certificate be issued forthwith and be sent to the Recovery Officer, Debt Recovery Tribunal-I, Delhi.
(GOVIND BALLABH SHARMA) PRESIDING OFFICER DRT-I, DELHI
(Dictated and pronounced in open court) Dated: 23.12.2025
2 issues framed by the court
Whether the original application for recovery of dues against absent defendants should be allowed.
At what rate of interest future interest should be awarded considering the fall in global and domestic interest rates.
Colour shows how this judgement treated each authority
Central Bank of India Vs. Ravindra & OthersReferred¶34
Central Bank of India Vs. Ravindra & Others
1 provisions across 1 enactments
Punjab National Bank Electronic City
Sh. Ashok Kumar
Smt. Rekha Devi
Govind Ballabh Sharma
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
