Allowed

Punjab National Bank v. M/s Maa Aranya Industries

DRT19 Jun 2026OA/438/2024

Case brief

AI extract

What is this about?

In an application under Section 19 of the RDB Act for recovery of debts, the Debt Recovery Tribunal at Patna, after proceeding ex-parte against the non-appearance of defendants, determined the debt and issued a certificate to recover Rs. 84,61,421.67 with interest and costs.

What did the court decide?

The debt of Rs. 84,61,421.67 along with pendente-lite and future interest @ 10% p.a. from 01.08.2024 was determined, and a Recovery Certificate was issued.

Punjab National Bank versus M/s Maa Aranya… — Contract and Commercial Disputes | DRT (2026)

DRT. PATNA

OA 438 of 2024jJl

Debts Recovery Tribunal, Patna

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Karpuri Thakur Sadan, Aashiana Digha Road Patna-800025

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Presiding Officer : Shri Kaushalendra Yadav

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OA Case No. 438 of 2024

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Punjab National Bank, B/o- Shahpur Branch, District- Bhojpur,Bihar

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. . . . . . .Applicant

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M/s Maa Aranya Industries (Borrower) through its proprietor Sri Omkar Nath Tiwary, at village and Post- Chandwa, Ward No.14, P.S.Ara, Nawada, District- Bhojpur, Bihar 8023 12, PAN No. AMEPT7332E

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Sri Omkar Nath Tiwary, S/o Sri Radha Mohan Tiwary, (Borrower and Mortgager), residing at village and Post- Chan(iwa, Ward No.14, P.S.Ara, Nawada, District- Bhojpur, Bihar 8023 12, PAN No. AMEPT7332E

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Sri Dilip Kumar Tiwary, S/o Sri Radha Mohan Tiwary, (Guarantor and Mortgager), residing at village and Post- Chandwa, Ward No.14, P.S.Ara, Nawada, District- Bhojpur, Bihar 8023 12

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Sri Radha Mohan Tiwary, S/o Late Kesho Tiwary (Guarantor and Mortgagor), residing at village and Post- Chandwa, Ward No.14, P.S.Ara, Nawada, District- Bhojpur, Bihar 8023 12

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. . . . . . . Defendants

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Present:

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For the Applicant Shri Satish Kumar Pandey, Advocate For the Defendants None

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Dated : 19.06.2026

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JUDGMENT

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The Applicant bank has made this application u/s 19 of the Recovery of Debts and Bankruptcy Act, 1993 (here-in-after referred to as Act) on 01.08.2024 against the defendants to recover its debts from defendants of Rs.84,61,421.67 as on 30.06.2024 along with pendente-lite and future interest at the contractual rate from 01.07.2024 with costs till realization

DRT, PATN A

OA 438 of 20241 Jl

The application has been filed with the contention that the applicant bank, is a body corporate, carries on the business and is competent to file the suit through various branches including the applicant.

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Defendant no.1 is a propdetorship firm of which defendant no.2 is the proprietor. Defendant no. 3 and 4 are the guarantors of the loan facilities. Defendants approached the applicant bank for sanction of cash credit facility of Rs.49 Lalkh, vide loan application dated 03.04.2019, which was sanctioned by the applicant bank on 14.05.2019 on various terms and conditions, as stipulated in the sanction letter, which were duly accepted by the defendants. To secure the loan facilities defendants have executed various loan and security documents and also created mortgage in favour of the applicant bank, details of which are given in OA

¶26

Defendants again approached the applicant bank for sanction of GECL facility of Rs.9.80 Lalkh, vide loan application dated 25.06.2020, which was sanctioned by the applicant bank on 25.06.2020 on various terms and conditions, as stipulated in the sanction letter, which were duly accepted by the defendants. To secure the loan facilities defendants have executed various loan and security documents in favour of the applicant bank, details of which are given in OA. The defendants have also availed another term loan and FITL facilities of Rs.6,20,743/- and 3.26 Lakh.

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After availing the sanctioned credit facilities, the defendants became irregular in repayment of their dues as per agreed terms and failed to adhere to the financial norms of the bank and avoiding the repayment of its dues to the bank, in spite of several assurances given by it to the applicant bank resulting in the account turning as NPA on 29.03.2022.

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Since, the defendants failed and neglected in spite of several reminders to make payment of the dues recoverable to the bank, hence this application has been filed by the bank.

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The total liability in the loan account is Rs.84,61,421.67 as on 30.06.2024 with pendente-lite and future interest contractual rate from 01.07.2024 till the realization

OA 438 of 20241 Jl

DRT, PATNA

This Tribunal issued summons/notices copies of application & paper book to the defendants by registered/speed post on 20.09.2024, requiring them to show-cause within 30 days of the service U/s 19 (4) of the Act & Rule of the DRT [Procedure] Rules, 1993. But the defendants have not appeared, hence, the Registry of this Tribunal has ordered to publish the notice in newspaper and subsequently, substituted service by publication of notice by way of advertisement in newspaper was also made against the defendants on 08.08.2025 in “Dainik Bhaskar” and “The Times of India” newspapers.

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Despite the registered summons/notices and publication of notice in newspaper, the defendants have not appeared before this Tribunal to contest the case. The sufficient time has been given to the defendants to defend their case, but they failed to appear and to file WS, hence, the Tribunal has passed an order to proceed ex-parte against the defendants on 20.02.2026.

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To prove its case, the applicant Bank has referred various certified photocopies of documents before this Tribunal. The applicant bank has also given evidence on affidavit by way of affidavit by Smt. Dipti Kumari, Manager of the applicant bank. The details of documents are as follows:

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SI.No	Description Documents Photocopies	of	!Date of IExecution 1	IAmount I(in 1Lakh	Signature Executants	o	nx Ann No.
	o		2F+	9,oo	Def.no.1&2
	Sanctiorl				Bank accepted defendants.	and by
3	Agreement HyDothecation	o		49.00	Def.no.1&2		3
	Loanagreement		16.05.2019	49.00	Def.no.I&2
	Agreed =uarantee	o		49.00	Def.no.3
6	Agreement :uarantee	o		49.00	e
7	Photocopy mortgagedeed	o					7
	Loanapplication		25.06.2020	9.80	Def.no.1&2
	Sanction letter		25.06.2020	9.80	Bank accepted def.no.1&2	and by
	o			9.80	Def.no.1&2
	Undertan			9.80	Def.no.1&2
	BalanceandMr				Def.no.1&2

DRT, PATNA

OA 438 of 2024jJl

	confirmationletter
13	Legalnotice	12.07.2024	Bank adv
14	of Statement accounts		Bank
15	Powerof Attorn	04.03.2015	Bank
16	calculation Interest chart		Bank
17	Photocopiesof PAN		Def.no.2

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Heard arguments and perused the case record.

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Ld. Counsel of applicant bank submitted that the defendants have taken the loan and utilized the same and also executed the various loan documents to secure the loan. Further, submitted that the claim of the bank has been proved by documentary evidence. All the transactions were entered in the ledger of the loan accounts in the name of the defendant duly maintained by the applicant bank in its usual course of business. The interest /compound interest has been charged at such rates, and capitalized at such periodical rests as are permitted by and do not run counter to the directives of Reserve Bank of India.

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It is further submitted by Id. Counsel of applicant bank that there is no stay granted by any Higher Court, in respect of the proceedings of the present OA and requested to issue recovery certificate, as claimed for, in OA.

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It has been established that defendants are living and carrying on their business in the state of Bihar. Cause of action also arose in the State of Bihar. The said claim on the date of filing of application exceeded m.20 lacs. The applicant bank is functioning within the jurisdiction of this Tribunal. Therefore9 this Tribunal has territorial as well as pecuniary jurisdiction to adjudicate upon the present application.

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On the issue of Limitation, to prove it, the applicant bank has submitted that the applicant bank has declared the account as NPA on 29.03.20229 whereas the present application has been filed on 01.08.2024. Even, it is counted for the purpose of Limitation, then it is established that the applicant bank has filed the case within the limitation period. As such, it is established that the present application has been filed well within the period of limitation.

OA 438 of 2024al

DRT, PATN A

Smt. Dipti Kumari, Manager of the applicant bank has filed the affidavit in support of contents of application and the documents as evidence and proved on oath the pleadings and documents of the applicant bank as stated above.

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Section 19(3) of the Recovery of Debts and Bankruptcy Act, 1993 provides that the application u/s S.19 (1) shall be accompanied with true copies of all the documents relied on in support of the claim.

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The rule 12 (10) of the Debt Recovery Tribunal (Procedure) Rules, 1993, provides that if the defendant denies his liability to pay the claim made by the applicant, the tribunal may act upon the affidavit of the applicant who is acquainted with the facts of the case or who has on verification of the record sworn the affidavit in respect of the contents of the application and the documents as evidence.

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The rule 12 (11) of the aforesaid Rules, provides that the provisions contained in section 4 of the Banker’s Books evidence that Act, 1891 (18 of 1891) shall apply to a certified copy of an entry in a Banker’s Books fbrnished along with application filed under sub section 1 of section 19 by the applicant.

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Section 4 of Banker’s Books evidence Act, 1891 runs as underS.4. Mode of proof of entries in bankers’ books.–Subject to the provisions of this Act, a certifIed copy of any entry in a banker’s book shall in aU legal proceedings be received as prima facie evidence of the existence of such entry, and shall be admitted as evidence of the matters, transactions and accounts therein recorded in every case where, and to the same extent as, the original entry itself is now by law admissible, but not further or otherwise.

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As such the certified true copies of the documents are admissible in evidence. The statement of account maintained in the ordinary course of business is not only admissible but shall be taken as the correct statement of account, more so since the entries in the statement of account have not been challenged.

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On perusal of the application, documents, affidavit and on consideration of the arguments, it is proved that the defendants have applied for loan and the bank had sanctioned the loan and to secure the loan and for repayment of loan amount with interests etc., the defendants have executed various loan documents, as stated in the application and proved by aforesaid evidence. Defendants have neither denied the utilization of fbnds advanced by applicant bank nor have pointed out any specific error and discrepancy in the Statement of Account. _ / '(iv

DRT1 PATNA

OA 438 of 20241 Jl

The evidence discussed above goes to establish that the amount of loan as mentioned in the O.A., was availed by the borrower under the agreed terms and conditions for repayment with interest. The balance amount till 30.06.2024 has been proved to be Rs.84,61,421.67 only by way of statement of accounts. There is nothing to prove the amount more than that disclosed in the aforementioned statement. As such this amount is recoverable till full and final realization of the claim.

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In my view, facts of the case stand proved by evidence of the applicant bank. Accordingly, the applicant bank is entitled to recover from defendants jointly and severally of Rs.84,61,421.67 along with pendente-lite and future interest @ 10% p.a. with compounded monthly rests from 01.08.2024 (The date of filing of this OA) till realization. So the final order may be passed accordingly, to meet the ends of justice.

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ORDER

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In the result, the application of the applicant bank is allowed and debt is determined with costs against the defendants. The defendants are hereby jointly and severally, ordered to pay the applicant bank its debt amounting to Rs.84,61,421.67 along with pendente-lite and future interest @ 10% p.a. with compounded monthly rests from 01.08.2024 (The date of filing of this OA) till realization of the entire sum due and recoverable with costs.

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It is made clear that any amount deposited by the defendants, be deducted in the claim amount, if not deducted.

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Defendants are debarred from transferring, alienating encumbering or otherwise dealing with or disposing of the mortgaged or hypothecated or any other properties and assets without paying the aforesaid adjudicated dues to the applicant bank to secure the ends of justice. The mortgaged or hypothecated assets to secure the loan in question are hereby attached and shall be subject to the final order under the recovery proceedings in pursuance of the Recovery certificate issued under Section 19(22) of Recovery of Debts and Bankruptcy Act 1993. The applicant may submit the certified copy of this Judgment and the Recovery Certificate before the Registrar/Sub- Registrar to endorse the charge over the secured assets

OA 438 of20241JI

DRT, PATN A

Let a certificate of recovery be drawn up forthwith and put up for signatures in terms of provisions contained in Section 19(22) of the Act to be issued, on the basis of the order of the Tribunal to the Recovery Officer. The Recovery Officer shall realize the amount as per the certificate in the manner and mode prescribed under the Act from the defendants, by sale of mortgaged/ hypothecated assets as well as other personal movable/immovabb assets of the defendants. The Recovery OffIcer will issue demand notice to the CertifIcate debtors only after the proof of compliance under rule 16 of DRT (Procedure) Rules 1993, is submitted by the applicant. If The Applicant /CertifIcate holder fails to comply with directions of the Recovery Of$cer, the execution may be dismissed for non-prosecution. The copy of this judgment be uploaded in the website of the Tribunal.

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Parties are directed to appear before the Recovery Officer, DRT, Patna on 03.08.2026. The order be communicated accordingly.

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Judgment signed, sealed, dated and pronounced in the open court on 19th day of June, 2026.

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Dictated &corrected by me.

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[Kaushalendra Yadav] Presiding Officer Debts Recovery Tribunal, Patna

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FORM NOt 9

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DEBTS Rj.(„..'OVERY TIUBUNAL PATNA

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2,d rb„, ( A. B & r Wi.g) m,p„,i Th,k„, S,d,,, K,,d,iy,

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[See Regulation 24(1 )]

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Karamchari Parisar (GPOA), Ashia'a DiSha RDad' Pat'la-800t)25

)(7) REA JA JW

RC- No. 159/2026

Case No: OA/438/2024

In the Matter of:

(CH_ 1) PUNJAB NATIONAL BANK B/O SHAHPUR BRANCH9 BHOJPUR ,BIHAR -0

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Applicant(s)

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(CD_ 1) M/S MAAARANYA INDUSTRIES

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Through its Proprietor Sri Omkar Nath TiwarY_

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residing at Mllage and PoSt- Chan(iwa, Ward No.-14 p PS'Ara, Nawada,

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Bhojpw ,BIHAR -8023 12

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(CD- 2) SRI OMKAR NATH TIWARY (BORROWER AND MORTGAGOR)

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S/0- SRI RADHA MOHAN TIWARY, RESIDING AT VILLAGE AND POST - CHANDWA, WARD NO- 14, P.S._ ARA NAWADA, DISTRICT- BHOJPUR, BIHARPIN- 8023 12

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Defendant(s)

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(CD_ 3) SRI DILEP KUMAR TrWARY (GUARANrOR AND MORTGAGOR) S/0_ SRI RADHA MOHAN TrWARY, RESIDING AT VILLAGE AND POST - CHANDWA, WARD NO- 14) p.S.- ARA NAWADA, DISTRICT- BHOJPUIL BIHARPIN- 8023 12

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(CD_ 4) SRI RADHA MOHAN TIWARY (GUARANTOR AND MORTGAGOR)

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S/0- LATE KESHO TIWARY RESIDING AT VILLAGE

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AND POST - CHANDWA, WARD NO- 14, P.S.. ARA

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NAWADA, DISTRICT- BHOJPUR, BIHAR- PIN- 8023 12

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S rO

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my_I

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In terms of final order Med 19/06/2026 passed by this Tribunal in the above mentioned case, it is ordered that the Applicant Certificate Holder BaM is entitled to recover a sum of Rs. 8461421.67 along with cost, expenses and interest from the 01/08/2024 i.e. date of filhg / with eBective date of the o/U438/2024 and future interest from order date till the date of realisation in full jointly or severally from the Certificate Debtors, hereinafter referred to as:-

¶102

Sr.no	CDName	! Int. Type/Mode	Int. Rate	Effective Date	Order Date	Amount(Rs.	)Lin)T	i :::Te :	ae A1[1rIoS (]$1:LJI!IFB
1	'M/SMAAARANYA INDUSTRIES	'Compound 'Intercst '(Monthly )	10	01/08/2024	19/06/2026	:8461421.67	Jointly And ly	nterestAs Order	b6142 1.67
2	SRI OMKAR NATH TIWARY(BORROWER ANDMORTGAGOR)	Compound Interest -(Monthly )	10	01/08/2024	;19/06/2026	}8461421.67	dIy And ly	[nterest As Order	1421.67
3	SRI DILIP KUMAR .TIWARY (GUARANTOR AND MORTGAGOR)	:ompound Interest :(Monthly )	10 !!	01/08/2024	.19/06/2026	:8461421.67	lointly And	As	1421.67
4	'SRI RADHAMOHAN :TIWARY (GUARANTOR ANDMORTGAGOR)	Compound Interest (Monthly)	10	01/08/2024	?19/06/2026	j8461421.67	ly And	As BritErer	[61421.67

¶103

In case of failure to pay the aforementioned adjudicated amount within 30 days, same shall be recovered from the sale of the mortgageahypothecated assets as well as other personal movable/ Immovable assets of the certificate debtors.

¶104

The mortgaged or hypothecated assets to secure the loan in question are hereby attached and shall be subject to the final order under the recovery proceeding in pursuance of the Recovery certificate issued under Section 19(22) of Recovery of Debts and Bankruptcy Act 1993.

¶105

Parties are directed to appear before ASHISH KUMAR , Recovery Officer, DEBTS RECOVERY TRIBUNAL PATNA on 03/08/2026. The Recovery Officer shall realize the amount as per this Certificate in the manner and mode prescribed under Sections 25 to 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 Debtors

¶106

This Certificate has been issued under my signature and seal of the Tribunal on this 20/06/2026

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}\ \ RegIstrar DeusMMpatnl nlqq$t31ftm,I,gal

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PRESIDING OFFICER DEBTS RECOVERY TRIBUNAL PATNA

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FORM NO. 10 [See Regulation 24(2)]

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DEBTS RECOVERY TRIBUNAL PATNA

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2nd Floor, (A. B & F Wing) Karpuri Thakur Sadan, Kendriya Karamchari Parisar

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(GPOA), Ashiana Digha Road, Patna-800025 .

¶113

SCHEDULE TO RECOVERY CERTIFICATE MEMO OF COSTS

RC No. 159/2026

Case No: OA/438/2024

Applicant(s): PUNJAB NATIONAL BANK Versus

¶118

Defendant(s): M/S MAAARANYA INDUSTRIES

¶119

Sr. No	Item ofCosts	,Amount inRs
	F8eon theapj;iii;iibr;	!-g7ddd
f2	!ProcessFees(Inc.Publication)	0
i3	AdvocateFees	10
	Commissioner/Receiver/Valuation/Securitfh:	0
	Zliscellaneous Charges	0
	TotalCosts:Ri	:87000

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Place: PATNA

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Date: 20/06/2026

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PRESI#NG OFFICER DEBTS RECOVERy TRIBUNAL PATNA

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Note: Stake out whicheVer is not applicable

Punjab National Bank v. M/s Maa Aranya Industries

Case brief

What is this about?

What did the court decide?

Punjab National Bank v. M/s Maa Aranya Industries

Case brief

What is this about?

What did the court decide?

What the court decided

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