Allowed

Bank of Maharashtra v. Ms Shree Pashupatinath Traders

DRT5 Jun 2026OA/1640/2024

Case brief

AI extract

What is this about?

In an original application for recovery of dues, the Debts Recovery Tribunal allowed the bank's claim against a proprietorship firm and its proprietor. The court held them jointly and severally liable to pay the principal amount along with interest and costs based on the evidence affidavit.

What did the court decide?

Defendants ordered to pay Rs. 26,68,870/- with 10% interest; recovery certificate issued to be sent to Recovery Officer.

Bank of Maharashtra versus Ms Shree Pashupatinath Traders — Banking and Recovery | DRT (2026)

¶1

“ORIGINAL APPLICATION” No. 1640 OF 2024

¶2

BEFORE THE DEBTS RECOVERY TRIBUNAL, JAIPUR

¶3

PRESENT- SHRI VIMAL GUPTA

¶4

PRESIDING OFFICER

¶5

O.A. NO. 1640 OF 2024

¶6

DATE OF DELIVERY OF ORDER 05.06.2026

¶7

Bank of Maharashtra Bank, constituted by and under the Banking Companies (Acquisition & Transfer of Undertakings) Act, 1970 and having its Head Office at Lokmangal 1501, Shivaji Nagar, Pune – 411005 and Branch Office at J.D.A. Shop No. 14, Hans Marg, Near Ridhi Sidhi, Gopalpura Bypass, Jaipur – 302008 (Rajasthan) through its Authorized Signatory Mr. Dilip Purohit.

¶8

…..Applicant Bank…..

¶9

VERSUS

¶10

1. M/S Shree Pashupatinath Traders through its proprietor Mr. Navratan Kumar Maheshwari, R/o Shop No. 41-42, Balnath Nagar-1, Benar Road, Vidhyadhar Nagar, Jhotwara, Jaipur - 302012, Rajasthan.

¶11

2. Mr. Navratan Kumar Maheshwari S/o Sh. Bhanwar Lal, R/o 45A, Shyam Nagar Ext., Benar Road, Vidhyadhar Nagar, Jhotwara, Jaipur302012, Rajasthan.

¶12

……Defendants…..

¶13

Counsel for the Applicant Bank Sh. Vineet Sharma Defendants

Ex parte

OA No. 1640 OF 2024

JUDGMENT

This Original Application was filed by the applicant bank on 30.10.2024 for recovery of outstanding amount of Rs. 26,68,870/- from the Defendants.

¶19

As per the pleadings, Defendant No. 1 is the proprietorship firm and the Defendant No. 2 is the proprietor of the Defendant No. 1, had approached the applicant bank for availing Credit facility wherein the credit facility was guaranteed under Credit Guarantee Scheme of CGTMSE. After due consideration, the said credit facility was sanctioned by the Applicant Bank in favour of Defendants in the year 2023 vide sanction letter dated 25.01.2023 for a total sum of Rs. 25 Lac.

¶20

It is submitted that looking to the regular defaults committed by the defendants, the counsel for the applicant bank issued Loan Recall Notice dated 19.10.2024 pertaining to the aforesaid loan accounts, despite of which the Defendants failed to clear the due amount of the applicant bank.

¶21

Defendants failed to maintain financial discipline and therefore, their loan account was classified as NPA on 31.03.2024. Applicant Bank has therefore, filed this original application for recovery of its dues against the Defendants.

¶22

Summons were issued to the Defendants on 20.01.2025 through court commissioner. The court commissioner filed his report dated 02.07.2025. Despite service none were appeared on behalf of the Defendants, therefore, they were proceeded ex-parte vide order dated 21.08.2025.

¶23

¶24

OA No. 1640 OF 2024

¶25

Heard arguments and perused the record.

¶26

As stated supra, the Applicant Bank filed the evidence affidavit of Shri Dilip Purohit coupled with the recitals in the documents, viz Exhibit Aw/1 to Aw/10 marked on behalf of the applicant bank, clinches the claim of the applicant bank against the Defendants. Hence, I hold that the Defendants are jointly & severally liable to pay to the applicant bank the claim made in O.A. with future interest and costs.

¶27

In the result, this O.A. No. 1640 OF 2024 is allowed declaring that:-

¶28

a) The Defendants are jointly & severally liable to pay to the applicant bank a sum of Rs. 26,68,870/- (Rupees Twenty Six Lac Sixty Eight Thousand Eight Hundred And Seventy Only) with pendente lite and future interest @ 10% (simple) from 23.07.2024 till the date of realization.

¶29

b) The applicant bank is entitled to recover the above amount from the sale of hypothecated assets as well as from the personal movable and immovable properties/assets of Defendants. The applicant bank is entitled to proceed against the same towards recovery of its debt.

¶30

c) The applicant bank is entitled to the costs of the O.A.

¶31

¶32

OA No. 1640 OF 2024

¶33

The recovery certificate be issued forthwith and be sent to the Recovery Officer, DRT, Jaipur.

¶34

10.Parties are directed to appear before the Recovery Officer, DRT, Jaipur on 10.07.2026 .

¶35

11.Prepare Recovery Certificate accordingly.

¶36

12.A copy of the Judgment and Recovery Certificate be given or sent by registered post to each of the parties free. A copy of the Recovery Certificate be sent to the Recovery Officer of this Tribunal for necessary action as per the law.

¶37

(Vimal Gupta) Presiding Officer, Debts Recovery Tribunal, Jaipur

¶38

Order pronounced in the open court today i.e. 05.06.2026 .

¶39

(Vimal Gupta) Presiding Officer, Debts Recovery Tribunal, Jaipur

¶40

¶41

OA No. 1640 OF 2024

¶42

BEFORE THE DEBTS RECOVERY TRIBUNAL, JAIPUR PRESENT- SHRI VIMAL GUPTA

¶43

PRESIDING OFFICER

¶44

O.A. NO. 1640 OF 2024

¶45

DATE OF DELIVERY OF ORDER 05.06.2026

¶46

RECOVERY CERTIFICATE

¶47

(UNDER SUB Section 22 of the Recovery of Debts due to Banks and Financial Institutions Act, 1993 (Act 51 of 1993)

…..Applicant Bank…..

VERSUS

1. M/S Shree Pashupatinath Traders through its proprietor Mr. Navratan Kumar Maheshwari, R/o Shop No. 41-42, Balnath Nagar-1, Benar Road, Vidhyadhar Nagar, Jhotwara, Jaipur - 302012, Rajasthan.

¶52

2. Mr. Navratan Kumar Maheshwari S/o Sh. Bhanwar Lal, R/o 45A, Shyam Nagar Ext., Benar Road, Vidhyadhar Nagar, Jhotwara, Jaipur302012, Rajasthan.

¶53

……Defendants…..

¶54

Recovery Certificate for Rs. 26,68,870/-

¶55

In terms of final order dated 05.06.2026 passed by this Tribunal in the above mentioned case, it is ordered that the-

¶56

a) The Defendants are jointly & severally liable to pay to the applicant bank a sum of Rs. 26,68,870/- (Rupees

¶57

¶58

OA No. 1640 OF 2024

¶59

Twenty Six Lac Sixty Eight Thousand Eight Hundred And Seventy Only) with pendente lite and future interest @ 10% (simple) from 23.07.2024 till the date of realization.

¶60

b) The applicant bank is entitled to recover the above amount from the sale of hypothecated assets as well as from the personal movable and immovable properties/assets of Defendants. The applicant bank is entitled to proceed against the same towards recovery of its debt.

¶61

c) The applicant bank is entitled to the costs of the O.A.

¶62

Parties are directed to appear before the Recovery Officer, DRT, Jaipur on 10.07.2026 .

¶63

The Recovery Officer shall realize the amount as per this Certificate in the manner and mode prescribed under Section 25 and 28 of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 (as amended from time to time) from the above named Certificate Debtor.

¶64

This Certificate has been issued under my signatures and seal of the Tribunal on this 05.06.2026 .

¶65

(Vimal Gupta) Presiding Officer, Debts Recovery Tribunal, Jaipur

¶66

¶67

OA No. 1640 OF 2024

¶68

BEFORE THE DEBTS RECOVERY TRIBUNAL, JAIPUR

¶69

PRESENT- SHRI VIMAL GUPTA

¶70

PRESIDING OFFICER

¶71

O.A. NO. 1640 OF 2024

¶72

DATE OF DELIVERY OF ORDER 05.06.2026

¶73

SCHEDULE TO RECOVERY CERTIFICATE

MEMO OF COST

…..Applicant Bank…..

VERSUS

1. M/S Shree Pashupatinath Traders through its proprietor Mr. Navratan Kumar Maheshwari, R/o Shop No. 41-42, Balnath Nagar-1, Benar Road, Vidhyadhar Nagar, Jhotwara, Jaipur - 302012, Rajasthan.

¶79

2. Mr. Navratan Kumar Maheshwari S/o Sh. Bhanwar Lal, R/o 45A, Shyam Nagar Ext., Benar Road, Vidhyadhar Nagar, Jhotwara, Jaipur302012, Rajasthan.

……Defendants…..

OA No. 1640 OF 2024

S. No.	Item of Costs	Amount (Rs.)
1	Fee on the Application	29,000.00
2	Process Fee (Inc. Publication)	60.00
3	Advocate Fee	1,250.00
4	Court Commissioner’s Fees	10,000.00
5	Commission/Receiver/Valuation	NIL
6	Miscellaneous Charges	NIL
	Total	40,310.00

¶84

(Vimal Gupta) Presiding Officer, Debts Recovery Tribunal, Jaipur

OA No. 1640 OF 2024

05.06.2026

Counsel: Sh. Vineet Sharma, Counsel for Applicant Bank Defendants are ex-parte

¶89

Judgment dictated separately and pronounced in the open court. As per order the O.A. is allowed. Recovery Certificate be prepared accordingly and the Registry is directed to verify the Recovery Certificate as per Regulation 22(1) of Debts Recovery Tribunal Regulation 2024 and after verification place the same before the Tribunal.

¶90

(Vimal Gupta) Presiding Officer, Debts Recovery Tribunal, Jaipur

OA No. 1640 OF 2024

05.06.2026

Counsel:

Sh. Vineet Sharma, Counsel for Applicant Bank Defendants are ex-parte

¶96

The Tribunal vide order dated 05.06.2026 , directed the Registrar to verify the Recovery Certificate as per Regulation 22(1) of Debts Recovery Tribunal Regulation 2024.

¶97

The Registrar vide order dated 05.06.2026 verified the Recovery Certificate as per Regulation 22(1) of Debts Recovery Tribunal Regulation 2024. Recovery Certificate be prepared accordingly. Copy of the Judgment and Recovery Certificate be given free to the concerned parties as well as be sent to the Recovery Officer for further proceedings. File be put up before the Registrar for compliance. After compliance file be consigned to record.

¶98

(Vimal Gupta) Presiding Officer, Debts Recovery Tribunal, Jaipur

Bank of Maharashtra v. Ms Shree Pashupatinath Traders

Case brief

What is this about?

What did the court decide?

Bank of Maharashtra v. Ms Shree Pashupatinath Traders

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

Coram

Case details

Similar cases

Bank of Baroda versus Bhairu Singh

Brijvallabh Singh versus Au Small Finance Bank Limited

Babulal Meena versus Reliance Asset Reconstruction Company Limited

Punjab and Sind Bank versus Smt Sadhana Sharma

Indusind Bank Limited versus Ramdev

Kedar Maharwal versus Kogta Financial India Ltd.