Allowed

Bank of Baroda v. M/S Anwita Enterprises and Another

DRT10 Aug 2026OA/1660/2025

Case brief

AI extract

What is this about?

The Debt Recovery Tribunal allowed the applicant Bank of Baroda's original application for recovery of Rs. 20,99,489.92 against the respondent enterprise and proprietor after default. The order granted the recovery claim along with costs and reduced future interest rates.

What did the court decide?

Recovery Certificate issued directing respondents to pay Rs.20,99,489.92 with costs and simple interest at 08% p.a.

Bank of Baroda versus M/S Anwita Enterprises and Another — Execution and Attachment | DRT (2026)

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DEBTS RECOVERY TRIBUNAL-III, CHANDIGARH

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ORIGINAL APPLICATION NO. 1660/2025

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PRESIDED OVER BY MRIDULESH KUMAR SINGH

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DATE OF INSTITUTION: 01.12.2025

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DATE OF DECISION: 10.08.2026

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Bank of Baroda, a body corporate constituted under the provisions of the Banking Companies (Acquisition and Transfer of Undertaking) Act, 1970 with its Head Office at Mandvi, Baroda and carrying on its business of Banking and having Branches at different places including Phase-3B2, Mohali Branch represented by its Authorized Officer/Power of Attorney Holder and Branch Manager.

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……..Applicant

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Versus

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M/s Anwita Enterprises, Near Nirankari Bhawan, Bhupinder S Chawla Complex, Godown Area, Bhabat Road, Zirakpur, Tehsil Zirakpur, Distt. Mohali, through its Prop. Smt. Minakshi W/o Sh. Barinder Kumar Sharma.

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Smt. Minakshi W/o Sh. Barinder Kumar Sharma, R/o Flat No. 41, Block-P2, Penta Homes, VIP Road, Zirakpur, Tehsil Zirakpur, Distt. Mohali, Prop. of M/s Anvita Enterprises.

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Second Address: Smt. Minakshi W/o Sh. Barinder Kumar Sharma, R/o House No. D-344, Block-D, Altus Muirwoods Ecocity, Sec-15, New Chandigarh, Mullanpur, Tehsil Kharar, Distt. Mohali, Prop. of M/s Anvita Enterprises.

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…….Defendants

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Advocates:

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Argued by Sh. Rajeev Bhardwaj, Advocate for Applicant (through VC) None for Defendants (already ex-parte vide order dated 06.08.2026)

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FINAL ORDER

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Present Original Application was instituted by the applicant under Section 19 of the Recovery of Debts and Bankruptcy Act 1993, against

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2 OA/1660/2025 BANK OF BARODA VS. M/S ANWITA ENTERPRISES AND ANOTHER

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the defendants for recovery of Rs.20,99,489.92 (Rupees Twenty Lac
Ninety Nine Thousand Four Hundred Eighty Nine and Paise Ninety Two
Only). The Original Application has been filed through Sh. Avinash
Kumar, Senior Manager,of the Applicant, who is competent to institute
the Original Application vide Copy of General Power of Attorney dated
17.09.2024, which isAnnexure A1to this OA.
2. The brief facts of the OA are that the Defendant no.1, through its
proprietor defendant no.2, approached the applicant for sanction of CC Limit of Rs.20,00,000.00 vide Loan Application, which isAnnexure A2
to this OA.
3. The applicant sanctioned the CC Limit of Rs.20,00,000.00 vide
Sanction Letter dated 02.12.2022, which isAnnexure A3to this OA
and terms and conditions were duly accepted by the defendants.
4. Defendant no.1, through its proprietor defendant no.2,
hypothecated its stock and book debts vide Loan Agreement dated
02.12.2022, which isAnnexure A4to this OA;
Documents executed: LDOC-38 dated 02.12.2022, which is
Annexure A5to this OA; Undertaking for unconditional cancellation of undrawn commitments dated 02.12.2022, which isAnnexure A6to this OA; LDOC-86 Power of Attorney dated 02.12.2022, which isAnnexure
A7to this OA; Draft Undertaking dated 02.12.2022, which isAnnexure
A8to this OA; Legal Notice and Postal Receipt dated 15.03.2025, which
areAnnexure A9 and A10to this OA; Statement of Account dated
29.10.2025, which isAnnexure A11to this OA; Certificate dated
29.10.2025, which isAnnexure A12to this OA.
5. The loan account became irregular and was classified as NPA and
after adjusting debit and credit entries in the loan account, there was a
debit of Rs.20,99,489.92 (Rupees Twenty Lac Ninety Nine Thousand
Four Hundred Eighty Nine and Paise Ninety Two Only), which is
recoverable and the defendants were served recall notices but they did
not repay the outstanding amount, therefore, the applicant requested
to accept the application and to issue Recovery Certificate accordingly.

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3 OA/1660/2025 BANK OF BARODA VS. M/S ANWITA ENTERPRISES AND ANOTHER

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The defendants were served summons to appear before this Tribunal but no one appeared on behalf of defendants and they were proceeded ex-parte vide order dated 06.08.2026. 7. In support of the OA, affidavit of Sh. Avinash Kumar , Senior Manager, B ank of Baroda, has been filed. 8. Heard arguments and perused record. 9. It was argued by learned counsel, through video conferencing, 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 the Annexures A1 to A12 to this OA, it is proved that the defendant no.1, through its proprietor defendant no.2, approached the applicant for availing of the loan facility, which was granted to them. Defendants had executed all the relevant documents in favour of the bank. The defendants failed to pay back the loan as per terms and conditions of the agreement between the parties. Subsequently, account of the defendants was classified as NPA. From the documentary evidence brought on record, it is proved that applicant is entitled to recover a sum of Rs.20,99,489.92 (Rupees Twenty Lac Ninety Nine Thousand Four Hundred Eighty Nine and Paise Ninety Two Only), along with interest from the defendants, jointly and severally, from the date of filing of the present Original Application till realization of the amount. 10. In so far as pendente lite and future rate of interest is concerned, the applicant in relief clause has claimed interest @11.10% p.a. plus 2.00% p.a. penal interest with monthly rests from 30.10.2025 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 assets, undertaking of the defendants, 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

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OA/1660/2025 BANK OF BARODA VS. M/S ANWITA ENTERPRISES AND ANOTHER

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appropriate to grant simple interest @08.00% p.a. in the loan account from the date of filing of the OA till realization of the amount, ordered vide this final order. It is ordered accordingly.

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In the result, the application is allowed declaring that the defendants are liable to pay to the applicant a total sum of Rs.20,99,489.92 (Rupees Twenty Lac Ninety Nine Thousand Four Hundred Eighty Nine and Paise Ninety Two Only), jointly and severally, with costs, current and future simple interest @08.00%p.a. in the loan account from the date of filing of OA till the date of realization of the amount. Accordingly, the applicant shall be entitled to recover aforesaid amount from the sale of hypothecated assets of the defendant no.1 in execution proceedings if not sold earlier under the provisions of the SARFAESI Act, 2002. If the dues of the applicant still remain unsatisfied, it shall be entitled to recover the same by attachment and sale of personal assets of the defendants. The applicant is at liberty to enforce the claim through due process of law.

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12. Any other application pending stands disposed of.

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Issue Recovery Certificate accordingly.

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Parties to appear before Learned Recovery Officer of this Tribunal on 25.08.2026

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Copy of this order be given dasti to the applicant and be sent to defendants through registered/speed post and this order be also uploaded on the official website of this Tribunal and record be consigned. Pronounced by me in the open Tribunal .

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Dated: 10.08.2026.

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(MRIDULESH KUMAR SINGH)

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Presiding Officer, DRT-III, Chandigarh

Bank of Baroda v. M/S Anwita Enterprises and Another

Case brief

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Bank of Baroda v. M/S Anwita Enterprises and Another

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