Allowed

State Bank of India v. M/S Oscar Pharma

DRT30 Jan 2026OA/187/2024

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed SBI's application under Section 19 RDB Act for recovery of Rs. 23,78,049/- plus interest, holding the bank proved its case on default. A Recovery Certificate was issued, and parties directed to appear before the Recovery Officer for property sale.

What did the court decide?

Recovery of Rs. 23,78,049/- with interest @10.55% per annum; Recovery Certificate issued; Parties directed to appear before Recovery Officer on 06.03.2026.

State Bank of India versus M/S Oscar Pharma — Banking and Recovery | DRT (2026)

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IN THE DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH

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BEFORE: A S NARANG, PRESIDING OFFICER

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OA No: 187 of 2024 Date of Institution: 24.01.2024 Date of Decision: 30.01.2026

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SBI having its branches all over India and a branch at Jharmajri, tehsil Baddi, District Solan, Himachal Pradesh.

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……..Applicant

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Vs.

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M/s Oscar Pharma, a proprietorship concern, having its registered office at Plot no. 115-EPIP-1, Jharmajri, Tehsil Baddi, District Solan, Himachal Pradesh through its proprietor, Rajinder Mohan s/o Sh. Gopal Singh r/o Village Paploha Post Office and Tehsil Kalka, District Panchkula, Haryana.

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Rajinder Mohan s/o Sh. Gopal Singh, proprietor r/o Village Paploha Post Office and Tehsil Kalka, District Panchkula, Haryana.

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……….Defendants

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Advocates

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Sh. P.S. Arora, Counsel for the applicant bank. Defendants - ex parte .

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OA for the Recovery of Rs.23,78,049/- with interest @10.55% per annum with monthly rests from 24.01.2024.

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ORDER

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SBI (Bank) has filed this application under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993 (RDB Act) for the recovery of Rs.23,78,049/- with interest against Oscar Pharma and another (defendants).

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Bank’s case is that on 13.09.2022, it had granted a loan of Rs.10.00Lacs in the form of C.C Limit and on 30.11.2022, a loan of Rs.12.30Lacs in the form of Term Loan for agricultural purpose to Defendant no.1 through its proprietor. Defendant no.2 stood as the guarantor. The loans were chargeable to different rates of interest. On

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16.04.2024, a sum of Rs.23,78,049/- was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.

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On 16.02.2024, summonses were sent to the defendants by registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 21.11.2024, they were proceeded ex parte .

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4. In order to prove its case, the Bank has placed on record the
affidavit of Mr. Jatinder Jindal, Branch Manager along with the loan and security documents and marked them as Exhibit A-1 to A-11.
5. I have perused the evidence on the record. I am of the considered
view that the Bank has proved its case that it had advanced total loan of
Rs.22.30Lacs and on 16.04.2024, a sum of Rs.23,78,049/- was due.
6. Accordingly, the application of the bank for the recovery of
Rs.23,78,049/- (Rupees Twenty Three Lacs Seventy Eight Thousand and
Forty Nine Only) with interest @10.55% per annum with monthly rests
from 24.01.2024, till the date of payment is hereby allowed with costs.
The liability of all the defendants would be joint and several. Bank can
recover its dues by the sale of the personal movable and immovable
property(ies) of the defendants.
7. Pending IAs, if any, stand disposed of.
8. Recovery Certificate be issued accordingly.
9. Parties are directed to appear before Recovery Officer on
06.03.2026,who is directed to distribute the sale proceeds of the
mortgaged property(ies) and standing crops as per the provisions of
Section 19(20-AB) of the Act.

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A Copy of this order along with Recovery Certificate be sent to the Recovery Officer as well as the parties. Pronounced in the open Court. (A S Narang) Dated: 30.01.2026 Presiding Officer DRT-1, Chandigarh Amanpreet (Law Researcher)

State Bank of India v. M/S Oscar Pharma

Case brief

What is this about?

What did the court decide?

State Bank of India v. M/S Oscar Pharma

Case brief

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What did the court decide?

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