Allowed

Central Bank of India v. M/S Metro Pipe Store and Others

DRT1 Sept 2026OA/546/2026

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed the applicant's recovery application against the props and guarantors, declaring them liable to repay the outstanding debt of over one crore rupees along with interest at 8% p.a., and ordered the issuance of a Retrieval Certificate.

What did the court decide?

Debt amount of Rs.1,02,63,743.20 to be paid with 8% simple interest; Recovery Certificate issued; execution permitted on assets.

Central Bank of India versus M/S Metro Pipe Store and Others — Banking and Recovery | DRT (2026)

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DEBTS RECOVERY TRIBUNAL-III, CHANDIGARH

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ORIGINAL APPLICATION NO. 546/2026

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PRESIDED OVER BY MRIDULESH KUMAR SINGH

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DATE OF INSTITUTION: 07.04.2026

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DATE OF DECISION: 01.09.2026

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Central Bank of India, a body corporate constituted and established under the Banking Companies (Acquisitions & Transfer of Undertakings) Act, 1970, having its Head Office at Chandermukhi Building, Nariman Point, Mumbai and having one of its Branch Office at Dana Mandi, Sultanpur Road, Kapurthala-144601, Punjab, through its Power of Attorney Holder Sh. Saurabh Kumar.

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……..Applicant Versus

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M/s Metro Pipe Store (Proprietorship Firm) , through legal heirs of deceased Proprietor Sh. Darshan Singh, Village Khera Dona, Sultanpur Road, Kapurthala-144601, Punjab: (1a) Smt. Paramdeep Kaur, W/o Sh. Darshan Singh, wife/legal heir of Sh. Darshan Singh, Village Khera Dona, Sultanpur Road, Kapurthala-144601, Punjab. (1b) Sh. Prabhjinder Singh, S/o Sh. Darshan Singh, son/legal heir of Sh. Darshan Singh, Village Khera Dona, Sultanpur Road, Kapurthala-144601, Punjab. (1c) Sh. Harpreet Singh, S/o Sh. Darshan Singh, son/legal heir of Sh. Darshan Singh, Village Khera Dona, Sultanpur Road, Kapurthala-144601, Punjab. (1d) Smt. Rajinder Kaur, W/o Sh. Gagandeep Singh, daughter/legal heir of Sh. Darshan Singh, Village Khera Dona, Sultanpur Road, Kapurthala-144601, Punjab. (1e) Smt. Kuldeep Kaur, W/o Sh. Pardeep Singh, daughter/legal heir of Sh. Darshan Singh, Village Khera Dona, Sultanpur Road, Kapurthala-144601, Punjab. (1f) Smt. Rajwant Kaur, W/o Sh. Mandeep Singh, daughter/legal heir of Sh. Darshan Singh, Village Khera Dona, Sultanpur Road, Kapurthala-144601, Punjab.

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2 OA/ 546/2026 CENTRAL BANK OF INDIA VS M/S METRO PIPE STORE AND OTHERS

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Smt. Paramdeep Kaur, W/o Sh. Darshan Singh, wife/legal heir of Sh. Darshan Singh, Village Khera Dona, Sultanpur Road, Kapurthala-144601, Punjab.

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Sh. Prabhjinder Singh, S/o Sh. Darshan Singh, son/legal heir of Sh. Darshan Singh, Village Khera Dona, Sultanpur Road, Kapurthala-144601, Punjab.

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Sh. Harpreet Singh, S/o Sh. Darshan Singh, son/legal heir of Sh. Darshan Singh, Village Khera Dona, Sultanpur Road, Kapurthala144601, Punjab.

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Smt. Rajinder Kaur, W/o Sh. Gagandeep Singh, daughter/legal heir of Sh. Darshan Singh, Village Khera Dona, Sultanpur Road, Kapurthala-144601, Punjab.

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Smt. Kuldeep Kaur, W/o Sh. Pardeep Singh, daughter/legal heir of Sh. Darshan Singh, Village Khera Dona, Sultanpur Road, Kapurthala-144601, Punjab.

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Smt. Rajwant Kaur, W/o Sh. Mandeep Singh, daughter/legal heir of Sh. Darshan Singh, Village Khera Dona, Sultanpur Road, Kapurthala-144601, Punjab.

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Smt. Paramdeep Kaur, W/o Sh. Darshan Singh, Village Khera Dona, Sultanpur Road, Kapurthala-144601, Punjab.

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Sh. Mangal Singh, S/o Sh. Bhagat Singh, Village Khera Dona, Sultanpur Road, Opposite RCF, Kapurthala-144601, Punjab.

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Sh. Harjinder Singh, S/o Sh. Mangal Singh, Village Khera Dona, Sultanpur Road, Opposite RCF, Kapurthala-144601, Punjab.

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Sh. Harvinder Singh, S/o Sh. Balwant Singh, Village Khera Dona, Sultanpur Road, Opposite RCF, Kapurthala-144601, Punjab.

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Sh. Parvinder Singh, S/o Sh. Balwant Singh, Village Khera Dona, Sultanpur Road, Opposite RCF, Kapurthala-144601, Punjab.

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Smt. Mandeep Kaur, W/o Sh. Jarnail Singh, Village Khera Dona, Sultanpur Road, Opposite RCF, Kapurthala-144601, Punjab.

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.……Defendants

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3 OA/ 546/2026 CENTRAL BANK OF INDIA VS M/S METRO PIPE STORE AND OTHERS

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Advocates:

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Argued by Ms. Deepal Tamang, Advocate proxy for Ms. Shina Sehgal, Advocate for applicant (through VC)

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None for Defendants (already ex parte vide order dated 12.08.2026)

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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 the defendants for recovery of Rs.1,02,63,743.20 (Rupees One Crore Two Lac Sixty Three Thousand Seven Hundred Forty Three and Paise Twenty Only). The Original Application has been filed through Sh. Saurabh Kumar, Senior Manager of the applicant, who is competent to institute the Original Application vide General Power of Attorney dated 19.09.2015, which is Annexure A-110 to this OA. 2. The brief facts of the OA are that the defendant no. 1, through its deceased Proprietor Sh. Darshan Singh, approached the applicant for grant of OD Limit of Rs.5.00 lacs vide Loan Application dated 12.01.2011, which is Annexure A-1 to this OA. Defendant nos. 11 & 12 stood as guarantors. Defendant nos. 1(a) to 1(f) and Defendant nos. 2 to 7 are one and the same persons, being legal heirs of the deceased proprietor, Sh. Darshan Singh and have been impleaded as defendants by the applicant. Thereafter, the defendant no. 1, through its deceased Proprietor Sh. Darshan Singh, approached the applicant for enhancement of OD Limit from Rs. 5.00 lacs to Rs. 20.00 lacs vide Loan Application dated 16.03.2013, which is Annexure A-5 to this OA. Defendant nos. 8 to 13 stood as guarantors. Thereafter, the defendant no. 1, through its deceased Proprietor Sh. Darshan Singh, approached the applicant for enhancement of OD Limit from Rs. 19.00 lacs to Rs. 40.00 lacs vide Loan Application dated 10.04.2015, which is Annexure A-13 to this OA.

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4 OA/ 546/2026 CENTRAL BANK OF INDIA VS M/S METRO PIPE STORE AND OTHERS

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Thereafter, the defendant no. 1, through its deceased Proprietor Sh. Darshan Singh, approached the applicant for additional CC Limit of Rs. 92.00 lacs. Defendant nos. 8 to 13 stood as guarantors. Thereafter, the defendant no. 1, through its deceased Proprietor Sh. Darshan Singh, approached the applicant for enhancement of CC Limit from Rs. 92.00 lacs to Rs. 120.00 lacs.

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Thereafter, the defendant no. 1, through its deceased Proprietor Sh. Darshan Singh, approached the applicant for restructuring of credit facilities vide proposal dated 20.03.2021.

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The applicant sanctioned the OD Limit of Rs.5.00 lacs vide Sanction Letter for OD Facility dated 13.01.2011, which is Annexure A- 2 to this OA and the terms and conditions were duly accepted by the defendants.

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Thereafter, the applicant sanctioned enhancement of OD Limit from Rs. 5.00 lacs to Rs. 19.00 lacs vide Sanction Letter dated 25.03.2013, which is Annexure A-6 to this OA. Thereafter, the applicant sanctioned enhancement of OD Limit from Rs. 19.00 lacs to Rs. 37,97,500.00 vide Sanction Letter dated 11.04.2015, which is Annexure A-14 to this OA. Thereafter, the applicant considered the request and sanctioned CC Limit from Rs. 92.00 lacs vide Sanction Letter dated 28.01.2016, which is Annexure A-43 to this OA.

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Thereafter, the applicant sanctioned enhancement of CC Limit from Rs. 92.00 lacs to Rs. 120.00 lacs. Thereafter, the applicant further sanctioned two GECL TL of Rs.22.00 lacs each during the period of COVID-19 pandemic. Thereafter, the applicant restructured the credit facilities as per request, wherein the CC Limit was reduced from Rs.120.00 lacs to Rs.70.00 lacs and sanctioned a fresh WCTL of Rs.38.00 lacs vide Restructuring Approval dated 25.03.2021, which is Annexure A-94 to this OA. Thereafter, the applicant sanctioned the renewal of the CC Limit of Rs. 70.00 lacs, GECL of Rs. 11.00 lacs and WCTL of Rs. 38.00 lacs vide Sanction of Renewal dated 20.03.2023, which is Annexure A-98 to this OA.

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5 OA/ 546/2026 CENTRAL BANK OF INDIA VS M/S METRO PIPE STORE AND OTHERS

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i. Defendant nos. 8 to 10 & 13 mortgaged their property that’s Plot and Building measuring 6000 Sq. Ft. (22 Marla) situated at Village Rawal-Be-Charag, Near RCF, Hadbast No. 129, Tehsil & District Kapurthala, Punjab, vide deposit of Title Deed bearing Vasika No. 2954 dated 21.10.2008;

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ii. Defendant nos. 11 & 12 mortgaged their property that’s Plot measuring 1825.75 Sq. Ft. (6.5 Marla) situated at Punjabi Bagh, Near Mandir, Village Mansoorwal Dona, Hadbast No. 149, Tehsil & District Kapurthala, Punjab, vide deposit of Title Deed bearing Vasika No. 3468 dated 09.01.2002;

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iii. Defendant nos. 8 & 13 mortgaged their property that’s Plot measuring 28.5 Marla, situated at Village Khera Dona, Sultanpur Road, Near Punjab & Sind Bank Khera Dona, Hadbast No. 122, Tehsil & District Kapurthala, Punjab, vide deposit of Title Deed bearing Vasika No. 3580 dated 12.02.2015;

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Copy of Title Deeds of above mentioned mortgaged properties was filed on 27.08.2026 vide Dairy No. 16322.

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iv. Defendant no. 1, through its deceased Proprietor Sh. Darshan Singh, hypothecated its Stock & book debts and Plant & Machinery vide Agreement of Hypothecation to Secure Demand Cash Credit dated 28.01.2016, which is Annexure A-45 to this OA; Letter of Hypothecation–Book Debts–Loans dated 10.03.2017, which is Annexure A-71 to this OA; Agreement of Hypothecation to Secure Demand Cash Credit Against Goods dated 10.03.2017, which is Annexure A-72 to this OA; Agreement of Hypothecation to Secure Demand Cash Credit Against Goods dated 06.01.2021, which is Annexure A-78 to this OA; Agreement of Hypothecation to Secure Demand Cash Credit Against Goods dated 25.03.2021, which is Annexure A-95 to this OA;

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Documents executed: Guarantor’s Consent Letter (Harvinder Singh) dated 04.01.2011, which is Annexure A-3 to this OA; Guarantor’s Consent Letter (Parvinder Singh) dated 04.01.2011, which is Annexure A-4 to this OA; Guarantor’s Consent Letter (Mangal Singh) dated 15.03.2013, which is Annexure A-7 to this OA; Guarantor’s Consent Letter (Harjinder Singh) dated 15.03.2013, which is Annexure A-8 to

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6 OA/ 546/2026 CENTRAL BANK OF INDIA VS M/S METRO PIPE STORE AND OTHERS

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this OA; Guarantor’s Consent Letter (Mandeep Kaur) dated 15.03.2013, which is Annexure A-9 to this OA; Guarantor’s Consent Letter (Paramdeep Kaur) dated 15.03.2013, which is Annexure A-10 to this OA; Guarantor’s Consent Letter (Harvinder Singh) dated 15.03.2013, which is Annexure A-11 to this OA; Guarantor’s Consent Letter (Parvinder Singh) dated 15.03.2013, which is Annexure A-12 to this OA; Guarantor’s Consent Letter (Harvinder Singh) dated 10.04.2015, which is Annexure A-15 to this OA; Guarantor’s Consent Letter (Parvinder Singh) dated 10.04.2015, which is Annexure A-16 to this OA; Guarantor’s Consent Letter (Mangal Singh) dated 10.04.2015, which is Annexure A-17 to this OA; Guarantor’s Consent Letter (Harjinder Singh) dated 10.04.2015, which is Annexure A-18 to this OA; Guarantor’s Consent Letter (Mandeep Kaur) dated 10.04.2015, which is Annexure A-19 to this OA; Guarantor’s Consent Letter (Paramdeep Kaur) dated 10.04.2015, which is Annexure A-20 to this OA; DP Note dated 15.04.2015, which is Annexure A-21 to this OA; Letter of Interest dated 15.04.2015, which is Annexure A-22 to this OA; Letter of Waiver dated 15.04.2015, which is Annexure A-23 to this OA; Letter of Sole Proprietorship dated 15.04.2015, which is Annexure A-24 to this OA; Undertaking for Payment of Interest dated 15.04.2015, which is Annexure A-25 to this OA; Consent Clause dated 15.04.2015, which is Annexure A-26 to this OA; Letter of Continuity dated 15.04.2015, which is Annexure A-27 to this OA; Overdraft Agreement dated 15.04.2015, which is Annexure A-28 to this OA; Declaration and Undertaking dated 15.04.2015, which is Annexure A-29 to this OA; Supplementary Agreement dated 15.04.2015, which is Annexure A-30 to this OA; Declaration and Undertaking (Paramdeep and Mandeep) dated 15.04.2015, which is Annexure A-31 to this OA; Form of Guarantee for Advances and Credits Generally dated 15.04.2015, which is Annexure A-32 to this OA; Consent Clause to be Executed by Guarantors (Paramdeep Kaur) dated 15.04.2015, which is Annexure A-33 to this OA; Consent Clause to be Executed by Guarantors (Mandeep Kaur) dated 15.04.2015, which is Annexure A-34 to this OA; Declaration and Undertaking (Parvinder and Harvinder) dated 15.04.2015, which is Annexure A-35 to this OA; Form of Guarantee

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7 OA/ 546/2026 CENTRAL BANK OF INDIA VS M/S METRO PIPE STORE AND OTHERS

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for Advances and Credits Generally dated 15.04.2015, which is Annexure A-36 to this OA; Consent Clause to be Executed by Guarantors (Parvinder Singh) dated 15.04.2015, which is Annexure A- 37 to this OA; Consent Clause to be Executed by Guarantors (Harvinder Singh) dated 15.04.2015, which is Annexure A-38 to this OA; Declaration and Undertaking (Harjinder and Mangal Singh) dated 15.04.2015, which is Annexure A-39 to this OA; Form of Guarantee for Advances and Credits Generally (Harjinder Singh & Mangal Singh) dated 15.04.2015, which is Annexure A-40 to this OA; Consent Clause to be Executed by Guarantors (Harjinder Singh) dated 15.04.2015, which is Annexure A-41 to this OA; Consent Clause to be Executed by Guarantors (Mangal Singh) dated 15.04.2015, which is Annexure A-42 to this OA; DP Note dated 28.01.2016, which is Annexure A-44 to this OA; DP Note/Letter of Waiver/Letter of Interest dated 28.01.2016, which is Annexure A-46 to this OA; Form of Guarantee for Advances and Credits Generally (Paramdeep Kaur) dated 30.01.2016, which is Annexure A-47 to this OA; Form of Guarantee for Advances and Credits Generally (Mangal Singh) dated 28.01.2016, which is Annexure A-48 to this OA; Declaration dated 28.01.2016, which is Annexure A-49 to this OA; Letter of Sole Proprietorship dated 28.01.2016, which is Annexure A-50 to this OA; Supplementary Agreement dated 28.01.2016, which is Annexure A-51 to this OA; Form of Guarantee for Advances and Credits Generally (Mandeep Kaur) dated 28.01.2016, which is Annexure A-52 to this OA; Form of Guarantee for Advances and Credits Generally (Parvinder) dated 28.01.2016, which is Annexure A-53 to this OA; Form of Guarantee for Advances and Credits Generally (Harjinder) dated 28.01.2016, which is Annexure A-54 to this OA; Letter of Hypothecation–Book Debts–Loans dated 28.01.2016, which is Annexure A-55 to this OA; Form of Guarantee for Advances and Credits Generally dated 28.01.2016, which is Annexure A-56 to this OA; Letter of Interest Variation dated 28.01.2016, which is Annexure A-57 to this OA; Declaration dated 28.01.2016, which is Annexure A-58 to this OA; Form of Guarantee for Advances and Credits Generally (Harvinder) dated 10.03.2017, which is Annexure A-59 to this OA; Form of Guarantee for Advances and Credits Generally (Parvinder) dated

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8 OA/ 546/2026 CENTRAL BANK OF INDIA VS M/S METRO PIPE STORE AND OTHERS

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10.03.2017, which is Annexure A-60 to this OA; Form of Guarantee for Advances and Credits Generally (Mandeep Kaur) dated 10.03.2017, which is Annexure A-61 to this OA; Form of Guarantee for Advances and Credits Generally (Harjinder Singh) dated 10.03.2017, which is Annexure A-62 to this OA; Form of Guarantee for Advances and Credits Generally (Mangal Singh) dated 10.03.2017, which is Annexure A-63 to this OA; Form of Guarantee for Advances and Credits Generally (Paramdeep Kaur) dated 10.03.2017, which is Annexure A-64 to this OA; Supplementary Agreement (CC Facility) dated 10.03.2017, which is Annexure A-65 to this OA; Letter of Sole Proprietorship dated 10.03.2017, which is Annexure A-66 to this OA; Declaration dated 10.03.2017, which is Annexure A-67 to this OA; Declaration dated 10.03.2017, which is Annexure A-68 to this OA; DP Note dated 10.03.2017, which is Annexure A-69 to this OA; DP Note/Letter of Waiver/Letter of Interest dated 10.03.2017, which is Annexure A-70 to this OA; Acknowledgement of Debt dated 04.02.2020, which is Annexure A-73 to this OA; DP Note/Letter of Waiver/Letter of Interest dated 06.01.2021, which is Annexure A-74 to this OA; Letter of Interest Variation dated 06.01.2021, which is Annexure A-75 to this OA; Letter of Continuity dated 06.01.2021, which is Annexure A-76 to this OA; Supplementary Agreement dated 06.01.2021, which is Annexure A-77 to this OA; Guarantor’s Consent Letter (Paramdeep) dated 06.01.2021, which is Annexure A-79 to this OA; Form of Guarantee for Advances and Credits Generally dated 06.01.2021, which is Annexure A-80 to this OA; Guarantor’s Consent Letter (Harjinder) dated 06.01.2021, which is Annexure A-81 to this OA; Form of Guarantee for Advances and Credits Generally (Harjinder) dated 06.01.2021, which is Annexure A-82 to this OA; Guarantor’s Consent Letter (Mangal Singh) dated 06.01.2021, which is Annexure A-83 to this OA; Form of Guarantee for Advances and Credits Generally (Mangal Singh) dated 06.01.2021, which is Annexure A-84 to this OA; Guarantor’s Consent Letter (Mandeep Kaur) dated 06.01.2021, which is Annexure A-85 to this OA; Form of Guarantee for Advances and Credits Generally (Mandeep Kaur) dated 06.01.2021, which is Annexure A-86 to this OA; Guarantor’s Consent Letter (Harvinder Singh and

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9 OA/ 546/2026 CENTRAL BANK OF INDIA VS M/S METRO PIPE STORE AND OTHERS

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Paramdeep) dated 06.01.2021, which is Annexure A-87 to this OA; Form of Guarantee for Advances and Credits Generally (Harvinder Singh and Paramdeep) dated 06.01.2021, which is Annexure A-88 to this OA; Documents to be Obtained for Working Capital Term Loan/Articles of Agreement dated 25.03.2021, which is Annexure A-89 to this OA; Letter of Continuity dated 25.03.2021, which is Annexure A-90 to this OA; Agreement of Hypothecation to Secure Demand Cash Credit Against Goods dated 25.03.2021, which is Annexure A-91 to this OA; Supplementary Agreement dated 25.03.2021, which is Annexure A-92 to this OA; DP Note/Letter of Waiver/Letter of Interest dated 25.03.2021, which is Annexure A-93 to this OA; DP Note/Letter of Waiver/Letter of Interest dated 25.03.2021, which is Annexure A-96 to this OA; Acknowledgement of Debt dated 05.01.2023, which is Annexure A-97 to this OA; CERSAI Registration dated 27.04.2015, which is Annexure A-99 to this OA; Notice under Section 13(2) of SARFAESI Act dated 17.03.2025, which is Annexure A-100 to this OA; Notice under Section 13(4) and Newspaper Publications dated 31.05.2025, which is Annexure A-101 to this OA; Death Certificate of Proprietor dated 01.10.2024, which is Annexure A-102 to this OA; ID Proofs, which is Annexure A-103 to this OA; Account Statement dated 31.07.2025, which is Annexure A-104 to this OA; Account Statement dated 31.07.2025, which is Annexure A-105 to this OA; Account Statement dated 31.07.2025, which is Annexure A-106 to this OA; Calculation Sheets dated 31.07.2025, which is Annexure A-107 to this OA; Certificate of Banker’s Book Evidence Act dated 31.07.2025, which is Annexure A-108 to this OA; Computation Chart of Interest dated 31.07.2025, which is Annexure A-109 to this OA; 5. The loan accounts became irregular and were classified as NPA and after adjusting debit and credit entries in loan accounts, there was a debit of Rs.1,02,63,743.20 (Rupees One Crore Two Lac Sixty Three Thousand Seven Hundred Forty Three and Paise Twenty 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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10 OA/ 546/2026 CENTRAL BANK OF INDIA VS M/S METRO PIPE STORE AND OTHERS

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The defendants were served summons to appear before this Tribunal and after the service of summons, Ms. Paramdeep Kaur, Defendant no. 2, Sh. Harpreet Singh, Defendant no. 4 and Sh. Harvinder Singh, Defendant no. 11, appeared in person on 16.05.2026. Thereafter, no one appeared on behalf of defendants and they were proceeded exparte vide order dated 12.08.2026.

¶52

In support of the OA, affidavit of Sh. Saurabh Kumar, Senior Manage r, Central Bank of India, has been filed.

¶53

Heard ex-parte arguments and perused record.

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It was argued by learned proxy counsel, through video conferencing, for applicant that in view of the documentary evidence brought on record which had gone unrebutted, the applicant had proved its case.

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From the perusal of all the Annexures A-1 to A-110 to this OA, it is proved that the Defendant no. 1, through its deceased Proprietor Sh. Darshan Singh, approached applicant for availing of the loan facilities, which were granted to him. Defendant nos. 8 to 13 stood as guarantors. Defendant nos. 1(a) to 1(f) and Defendant nos. 2 to 7 are one and the same persons, being legal heirs of the deceased proprietor, Sh. Darshan Singh and have been impleaded as defendants by the applicant. The defendants had executed all the relevant documents in favour of the applicant. The defendants failed to pay back the loans as per terms and conditions of the agreement between the parties. Subsequently, all the accounts of the defendants were classified as NPA. From the documentary evidence brought on record, it is proved that applicant is entitled to recover a sum of Rs.1,02,63,743.20 (Rupees One Crore Two Lac Sixty Three Thousand Seven Hundred Forty Three and Paise Twenty 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.

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11 OA/ 546/2026 CENTRAL BANK OF INDIA VS M/S METRO PIPE STORE AND OTHERS

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In so far as pendent elite and future rate of interest is concerned, the applicant has claimed interest @10.70% p.a. from 30.06.2025 till the realization.

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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 and mortgaged property, undertaking of the defendants, quantum of loans 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 appropriate to grant simple interest @8.00% p.a. in all the loan accounts from the date of filing of the OA till realization of the amount ordered vide this final order. It is ordered accordingly.

¶59

In the result, the application is allowed declaring that the defendants are liable to pay to the applicant a total sum of Rs.1,02,63,743.20 (Rupees One Crore Two Lac Sixty Three Thousand Seven Hundred Forty Three and Paise Twenty Only), jointly and severally, with costs, current and future simple interest @8.00% p.a. in all the loan accounts 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 and mortgaged properties of defendant nos. 8 to 13 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 defendant nos. 1 & 8 to 13 and personal assets of the defendant nos. 2 to 7 up to the extent, they inherited the property of deceased Sh. Darshan Singh. The applicant is at liberty to enforce the

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claim through due process of law.

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12. Any other application pending stands disposed of.

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12 OA/ 546/2026 CENTRAL BANK OF INDIA VS M/S METRO PIPE STORE AND OTHERS

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Issue Recovery Certificate accordingly.

¶64

Parties to appear before Learned Recovery Officer of this Tribunal on 16.09.2026

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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.

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Pronounced by me in the open Tribunal .

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Dated: 01.09.2026

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(MRIDULESH KUMAR SINGH)

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Presiding Officer,

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DRT-III, Chandigarh

Central Bank of India v. M/S Metro Pipe Store and Others

Case brief

What is this about?

What did the court decide?

Central Bank of India v. M/S Metro Pipe Store and Others

Case brief

What is this about?

What did the court decide?

What the court decided

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