Allowed

Indian Bank v. Ms Shri Ram Packaging and Ors.

DRT30 Oct 2025TA/977/2024

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed an application for recovery of a debt. The court found that the applicant bank proved its case through unchallenged evidence. The respondents were absent, and the tribunal directed them to pay the outstanding principal, interest, and costs within 30 days, with recovery from assets in case of default.

What did the court decide?

All respondents directed to jointly and severally pay Rs.45,61,856/- plus interest @13.70% and costs within 30 days. Failure to pay allows recovery from secured and personal assets.

Indian Bank versus Ms Shri Ram Packaging and Ors. — Banking and Recovery | DRT (2025)

¶1

Before SUSHIL^{KUMARRASTOGI, Presiding Officer} Debts Recoveta^{Tribunal-Il,Delhi}

¶2

TA No.977 OF 2024

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INDIAN BANK^{(ALLAHABAD BANK) VS M/S SHRI. RAM} PACKAGING^{& ORS}

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Reserved on : 19.09.2025

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Pronounced on^{: 30.10.2025}

Indian Bank

(Allahabad Bank)

-Applicant bank

Vs.

1 M/s Shri Ram^Packaging

¶11

2 Sh. Adesh^Chaudhary

¶12

3 Sh. Ravi Dutt^Nimesh

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4 Sh. Satendra^Sirohi

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Defendants

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Present: Shri. Aditya^{Kumar Jha, Counselappears} for applicant^bank. Defendants are^{exparte since 03.02'2025'}

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FINAL ORDER

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This original application^{has been filed by the} applicant bank,^{on 04.t0.2017throughShri' Ajay} Kumar Mairh,^{Chief Managerof AttorneyHolder of the} applicant bank,^{under Section19 of the Recoveryof} Debts and^{Bankruptcy Ad, 1993 againstthe} defendants for^{recovery of a sum of Rs'45,61,856/-} together with^{cost, chargesand pendentelliteand} future intere *. @17^{.75o/o from date of filing of this O'A'} till the realization^{in full.}

¶18

The brief^{facts of the caseare that at the request} of the defendant^{no.1 being a proprietorshipconcern} through its^{proprietor i.€., defendant no'2, the} icant bank^{sanctioneda Cash Credit Facility of} appl

TANO.977 of 2024

Rs.30 lacs against the primary security of hypothecation of stocks & book debts, vide sanction letter dated 08.07.2013 and Term Loan Facility of Rs,1,15,000/-. The defendant no.2 created equitable mortgage of immovable property bearing Plot No.136 B-1, measuring 150 sq. yards located in Khasra No.488, Anand Industrial Estate, Mohan Nagar, Village Arthala, Pargana Loni, tehsil & District Ghaziabad U.P-201012 and deposited the title deed of the above said moftgage property dated 25.05.2024 and the same was confirmed through a letter dated 08.07.2013. Defendant nos.3 & 4 stood as guarantor.

¶23

It is further submitted that the defendants enjoyed and utilized the Loan facility, but failed to maintain the financial discipline and failed to repay the due amounts. The applicant bank requested the defendants to regularize the loan account by visits and letters, but there was no response from the defendants, hence the account was classified as NPA on 27.t2.2014. Therefore, the applicant bank served a notice dated 10.01.2015 to the defendants but failed to recover the same. Thus, the present O.A.|[.A. is preferred by the applicant bank to recover its dues.

¶24

On notice by this Tribunal, defendant nos.1 to 3 put appearance through counsel but failed to file written statement. The defendant no.4 failed to^put appearance at all. Thereafter, the defendant nos.1 to⁴ failed to^put appearance in the matter. Accordingly, the defendant nos. 1 to 4 were^proceeded against expafte on 03.02.2025.

€A

TANO.977 of 2024

The applicant^{bank has filed evidence by way} of affidavit of^{Ms. Mariya mZaidi, Senior Managerof the} applicant bank as^{Annexure A-1 to Annexure A-15} which have^gone unchallenged^{and un-rebutted.} Hence, the case of the^{applicantbank stands fully} established against the^{defendants with respect to} nonpayment of outstanding^amount.

¶29

After^{perusing the records, this Tribunalis of the} view that the applicant^{bank has provedits case} beyond reasonable^{doubts.The evidenceand} documents filed^{by the applicant banknot rebuttedby} the defendants by^{not placing any evidenceand there} is no^question of^{disbelievingthe evidenceand} documents filed^{by the applicant bank based upon the} written/printed documents.

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In the light of the^{above discussions, the presentT'A'} deserves to^{be allowed.}

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ORDER

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I hereby^{allow this T.A. of the ApplicantBank and} direct the defendant^{nos. 1 to 4 to pay jointly and} severally to the^{applicant bank within 30 days from} today, a sum of^{Rs.45,61,856/-along with cost,} expenses and^interest @^{13.70olo from the date of filing} of this O.A.^{which has become T.A till the date of} realization.

¶33

In case of^{failure to deposit the above amount} within the stipulated^{period,the same shall be} recovered from^{the sale hypothecated assetsand the} sale of the^{mortgageof immovablepropefi bearing} Flat No.136^{B-1, measuring 150 sq. yardslocatedin} Khasra No.488,^{Anand Industrial Estate, Mohan Nagar,}

TANO.977 of2024

Village Arthala,^{ParganaLoni, tehsil &District} Ghaziabad^{U.P-201012. In case of short fall, the same} shall be recovered^{from the sale of personal movable} and immovable^{assets of the defendant nos' 1 to 4'}

¶38

Recovery^{Certificate be issuedforthwith andbe} sent to^{RecoveryOfficer, Debts Recovery Tribunal-Il,} Delhi.

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The^{registryof this Tribunal is herebydirected to} issue free^{copy of the order and send the same to both} the^parties.

¶40

Pafties^{are directed to appear before the Ld'} Recovery Officer,^{DRT-II, Delhion 30'L2'2025'Pending} IAs, if any,^{standdisPosed of.}

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File be consigned^{to records'}

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Date : 30.10.2025

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9,\ (susHIL KUMAR {nsrocl) PRESIDING^OFFICER DRT-II, Delhi

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This^{judgement has been} signed, dated^and

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pronounced in oPen^court.

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Date : 30.10.2025

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sA (susHlt KUMAR^RASTOGI) PRESIDING^OFFICER DRT-II,^Delhi

Indian Bank v. Ms Shri Ram Packaging and Ors.

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Indian Bank v. Ms Shri Ram Packaging and Ors.

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