Allowed

State Bank of India v. Pooja Nanda

DRT7 Feb 2026OA/497/2024

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal-I, Delhi allowed an original application filed by State Bank of India for recovery of Rs. 60,91,877/- along with future interest against the respondent, a sole proprietorship, which was tried ex-parte.

What did the court decide?

Directed the defendant to pay Rs. 60,91,877/- along with future interest within 30 days; recovery to proceed via sale of assets if not paid; recovered via Recovery Officer.

State Bank of India versus Pooja Nanda — Banking and Recovery | DRT (2026)

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O.A. No.497 of 2024

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Debts Recovery Tribunal-I, Delhi 4th floor, Jeevan Tara Building, Parliament Street, New Delhi

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Presiding Officer: Shri Govind Ballabh Sharma

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O.A. No. 497 of 2024

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. State Bank of India

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SARB-II, SBI House, Fourth Floor, 18/4, Arya Samaj Road, Karol Bagh New Delhi-110005

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Applicant

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Versus

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Mrs. Pooja Nanda w/o Sh.Tushar Nanda Proprietor of M/s R.M. Fabrics Plot no.15, 2nd Floor, 63, Rama Road, Opp. Kirti Nagar Metro Station New Delhi-110015

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Also at:

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Mrs. Pooja Nanda w/o Sh.Tushar Nanda No.5467, Second Floor Gali no.71/72, Reghar Pura, Karol Bagh, New Delhi-110005

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Also at:

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Mrs. Pooja Nanda w/o Sh.Tushar Nanda B-1/17, 2nd Floor, Near Punjab Sweets Sector-11, Rohini, Delhi-110085

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Also at:

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Mrs. Pooja Nanda w/o Sh.Tushar Nanda B-219, 2nd Floor, Naraina Industrial Area Phase I, Delhi-110028

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Defendant

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Present: Shri S.K.Tyagi, Counsel for the applicant bank

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Date of Reserve: 14.01.2026

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Date of Pronouncement: 07.02.2026

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FINAL ORDER

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This original application has been filed by the applicant bank on 26.07.2024 through Shri Alok Kumar, authorized representative of the applicant under Section 19 of Recovery

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O.A. No.497 of 2024

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of Debts Due to Banks & Financial Institutions Act, 1993 against the defendant for recovery of Rs.60,91,877/- (Rupees Sixty Lacs Ninety One Thousand Eight Hundred Seventy Seven only) as on 27.06.2024, out of which Rs.58,48,252/along with future interest @14.40% per annum with monthly rests under Cash Credit account and Rs.2,43,625/- along with future interest @9.25% per annum with monthly rests under GECL account till the date of realization alongwith costs.

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The brief facts of the case are that at the request of defendant being sole proprietor of M/s R.M.Fabrics vide loan application dated 31.08.2019, the applicant bank sanctioned Cash Credit (Hyp.) facility for a sum of Rs.55,00,000/- (Rupees Fifty Five Lacs only) for textile trading business against hypothecation of stocks and other current assets which was renewed from time to time lastly on 07.03.2023. The applicant bank sanctioned Working Capital Term Loan of Rs.11.00 lacs under GECL on 03.06.2020 to be repayable in 48 EMIs of Rs.31,134/- which was adjusted in full. Further, applicant bank sanctioned CECL limit for Rs.5.00 lacs @9.25% interest on 07.03.2023, totaling Rs.60.00 lacs covered under CGTMSE scheme. The defendant also agreed to pay penal interest @2% per annum in case of default or delay in repayment of interest or installment.

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That in order to avail the said loan facilities, the defendant executed Agreement of Loan cum Hypothecation, Sole Proprietorship Letter, Undertakings, Standard Covenants forming part of Terms and Conditions, Guarantee Agreement, Confirmation of Guarantee Agreement, D.P. Note, D.P.Note Delivery Letters, Affidavit cum Declarations, Letter of Arrangements, Affidavit cum Undertaking with the applicant bank on 12.09.2019, 03.06.2020 and 07.03.2023.

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O.A. No.497 of 2024

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The applicant bank registered its charge over hypothecated assets of defendant with CERSAI vide Asst. ID NO.200038172826 dated 05.03.2020.

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It has been submitted by the applicant bank that after availing the loan facilities, the defendant did not comply with the sanction terms and conditions despite several requests and reminders vide letters between 05.04.2021 to 29.12.2023 and emails between 03.10.2023 to 24.04.2024. The defendant failed to deposit the outstanding amount and not maintain the account as per term of sanction with the applicant bank. Ultimately, the applicant bank classified the account as NPA on 21.12.2023 and issued legal notice dated 03.07.2024 but defendant not come forward to regularize the accounts, hence the applicant bank has approached this Tribunal for recovery of their dues.

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Notices of this O.A. were issued to the defendant and despite of proper service, the defendant has chosen to absent from the proceedings. As per order dated 17.10.2025, the defendant has been proceeded ex-parte as not appeared before the Tribunal and even no written statement, evidence and affidavit of assets has been filed on behalf of the defendant.

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In order to prove its case, the applicant bank has filed its evidence by way of affidavit of Sh. Alok Kumar, authorized representative of the applicant bank who has proved the documents such as Copy of Gazette Notification, Loan Application, PAN Card, Registration Certificate, Letter of Arrangement, Agreement of Loan cum Hypothecation, Sole Proprietorship Letter, Undertakings, Standing Covenants, D.P. Note, D.P. Note Delivery Letter, Revival Letter, Search Report issued by CERSAI, Letters, Emails, Statement of Account duly Certified under Banker's Book Evidence Act, Legal notice along

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0.A. No.497 of 2024

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with Postal Receipts marked as Ex.AW-1/1 to Ex.AW1/26(Colly).

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The applicant bank has fully corroborated the averments made in the O.A. Even otherwise the whole case of the applicant bank is based on the documents and the same have been duly approved.

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The case filed by the applicant bank gone unrebutted and there is no question of disbelieving the case of the applicant bank has proved its case beyond reasonable doubts.

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In the light of the above discussions, the Original Application deserves to be allowed.

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ORDER

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I, allow this OA and direct the defendant to pay to the applicant bank within a period of 30 days, a sum of Rs.60,91,877/- (Rupees Sixty Lacs Ninety One Thousand Eight Hundred Seventy Seven only), out of which Rs.58,48,252/- along with future interest @14.40% per annum with monthly rests under Cash Credit account and Rs.2,43,625/- along with future interest @9.25% per annum with monthly rests under GECL account from 27.06.2024 till the date of realization, failing which the aforesaid amount shall be recovered from the sale of hypothecated stocks and current assets etc. In case of shortfall, the same shall be recovered from the sale of movable and immovable properties of the defendant.

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(II) The recovery certificate be issued forthwith and be sent to the Recovery Officer, Debt Recovery Tribunal-I, Delhi.

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O.A. No.497 of 2024

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(III) Parties are directed to appear before the Recovery Officer, DRT I, Delhi on 08.04.2026.

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(IV)^{Copies of final order as well as Recovery Certificate be} sent to all concerned free of cost.

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(GOVIND BALLABH SHARMA) PRESIDING OFFICER DRT-I, DELHI

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(Dictated and pronounced in open court) Dated: 07.02.2026

State Bank of India v. Pooja Nanda

Case brief

What is this about?

What did the court decide?

State Bank of India v. Pooja Nanda

Case brief

What is this about?

What did the court decide?

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