The Debts Recovery Tribunal allowed an application filed by Indian Overseas Bank to recover a sum of Rs. 98,18,165/- along with interest and costs from Shri Jitendra Kumar, who failed to repay sanctioned credit and term loans.
Direction to pay Rs. 98,18,165/- with interest and costs within 30 days; Recovery from hypothecated and mortgaged assets.
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.
Before SUSHIL KUMAR RASTOGI, PresidingOfficer Debts Recovery Tribunal-Il, Delhi
TA NO/388/2022
INDIAN OVERSEAS BANK VS SHRI. JITENDRA KUMAR
Reserved on : 24.07.2025
Pronounced on : 25.08.2025
Indian Overseas Bank
-Applicant bank
Vs.
Shri Jitendra Kumar
Present: Mr. Pramod Kumar, Counsel for applicant bank.
Defendant is exparte dated 03.02.2025.
FINAL ORDER
This original application has been filed by the applicant bank, on 20.02.2017 through Sh. Muthuvel Chidambram, kfi General Manager of the applicant bank, under Section 19 of the RDB Act, 1993 against the sole derbndant for recovery of a sum cf Rs.98,18,165/- together with cost, charges and pendentellite and future interest @L2.20o/o in respect from date of filing of this O.A. till the realization in full.
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than 90 daysold with value of Rs.40 lakhs. In terms of credit sanctionadvice,a term loan for Rs.67 lakhs was availed by defendantfor which the sole defendant executed all.necessry loaning documents on 18.06.2015 and18.02.2016' This term loan facility was granted by the applicantbank to the sole defendant on the basis ofprime securityfor plant and machineryfor Rs.80 lakhs andland and buildingfor Rs.53 lakhs' This term loan forRs.67 lakhs enjoyedby the dole defendant wasto be repaid by the defendant in 84 monthly installmentfrom 18.10.2015as stipulated in the term loanagreementdated 18.06'2015' To secure the outstandingamount has mortgagedhis factory property bearing factoryproperty bearingKhasra No.210/5 min.consisting an area of 0'045 Hectare(i'e', 450 sq. Mts.) situatedat Mahua Khera Ganj,Teshil- Kashipur Distt-Udham Singh Nagar by virtue of depositing originalsale deed dated 25'lt'20l4 executed byShri. Pragat Singh as vendorin favourof Shri. litendraKumar'
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sole 4. On notice bythis Tribunal, the defendantput appearancethrough counsel but failed to file written statementand the right to file written statement of defendantwas closedvide order dated 09.08.2018. Thereafter,the sole defendant failed to put appearance in the matter.Accordingly,the sole defendant wasproceededagainst exparteon 03.02.2025.
In the light ofthe above discussions, the presentT'A' deserves tobe allor^led.
ORDER
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date of filing of this OA which has become T.A till the date of realization.
File be consigned to records.
Date : 25.08.2025
e).. (susHrl KUMAR RASroGr) PRESIDING OFFICER DRT-II, De|hi
This judgement has been signed, dated and pronounced in open court.
<"\ (susHrL(trMnf,tRAsroq) PRESIDING OFFICER DRT-II, Delhi
Date : 25.08.2025
2 issues framed by the court
Whether the applicant bank is entitled to recover the outstanding dues from the defendant under Section 19 of the RDB Act, 1993.
Whether the defendant is liable to pay the principal amount, cost, and interest as claimed.
1 provisions across 1 enactments
INDIAN OVERSEAS BANK
SUSHIL KUMAR RASTOGI
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
