| Tribunal and no one appeared on behalf of defendant. Hence, he was |
| proceeded ex-parte on 26.11.2025. |
| 7. In support of the OA, affidavit of Sh. Abbas Akhter, Constituted |
| Attorney, Union Bank of India,has been filed. |
8.
Heard ex parte arguments and perused record. |
9.
It was argued by learned counsel, that in view of the documentary |
| evidence brought on record which had gone unrebutted, the applicant |
had proved its case.
From the perusal of all theAnnexures A1 to A15to this OA, it |
| is proved that the defendant approached applicant for availing of the |
| Term Loan, which was granted to him and for that he had executed all |
| the relevant documents in favour of the bank. The defendant failed to |
pay back the loan as per terms and conditions of the agreement between
the parties. Subsequently, account of the defendant was classified as |
| NPA. From the documentary evidence brought on record, it is proved |
| that applicant is entitled to recover a sum of Rs.20,78,405.97 (Rupees |
| Twenty Lac Seventy Eight Thousand Four Hundred Five and Paise Ninety |
| Seven only), along with interest from the defendant, from the date of |
| filing of the present Original Application till realization of the amount. |
10.
In so far as pendent elite and future rate of interest is concerned, |
| the applicant in relief clause has claimed interest @11.00% p.a. plus |
| 2.00% p.a. penal interest with half yearly rests from 19.07.2025 till the |
| realization. |
| The Tribunal is of the considered opinion that sometimes in |
| appropriate cases the prerogative of mercy is the brightest jewel in the |
| crown of the Judge. Keeping in view the facts and circumstances of the |
| instant case including nature of the hypothecated asset, undertaking of |
| the defendant, quantum of loan and prevalent market rates of interest |
| which have gone drastically downhill in yester years, while exercising |
| the discretion vested in this Tribunal, this Tribunal deems it just and |
| appropriate to grant simple interest @08.00% p.a. in the loan account |
