Allowed

Punjab National Bank v. Mohammad Adil S/O Abdul Hameed Proprietor of M/S Super Steel Industries

DRT29 Jan 2026OA/549/2022

Case brief

AI extract

What is this about?

The Debt Recovery Tribunal applied Section 19 of the Recovery of Debts and Bankruptcy Act to a bank's application. It allowed the claim of Rs. 37,22,623.00 plus interest and ordered the sale of mortgaged property.

What did the court decide?

Recovery of Rs. 37,22,623.00 with interest at 10% per annum; sale of mortgaged and hypothecated properties; issuance of recovery certificate.

Punjab National Bank versus Mohammad Adil S/O Abdul… — Civil Procedure and Limitation | DRT (2026)

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i., (or>

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DEBTS RECOVERY TRIBUNAL : JABALPUR

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(for the States of Madhya pradesh and Chhattisgarh)

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(Presiding officer -Pravas Kumar singh, r/c DRT Jabatpur)

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Original Application No. - 549/22

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Punjab Nationa[ Bank

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Jawahar Marg, Chattarpur (M.P.)

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..... Appticant

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Versus

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Mohammad Adit S/o Abdut Hameed, Proprietor of M/s Super Steet lndustries R/o Ward No. 27, Shuktana Mohatta, Barber Marg, Chhatarpur (M.P.) - 471001

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Abdut Hameed S/o Abdut Lateef R/o Ward No. 27, Shuklana Mohatta, Barber Marg, Chhatarpur (M.P.) - 471001

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..... Defendants

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Counsel for the Appticant : Shri Shreyas Dubey, Advocate

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Defendants : Ex-parte

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JUDGMENT (Dated : 29th iarurar)r, 2026)

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The Appticant'Bank has fited the present Originat Apptication u/s 19 of Recovery of Debts and Bankruptcy Act on 29104/22 against the Defendants for recovery of Rs. 37,22,623.00 (Rupees Thirty Seven Lakhs Twenty Two Thousand, Six Hundred and Twenty Three onty) atong with interest and other retiefs as stated.

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The brief facts of the case are that on the request of Defendant No.-1 being the proprietor of M/s Super Steet lndustries, the Appticant Bank sanctioned the Term Loan of Rs. 8.85 Lakh and Cash Credit timit of Rs. 14.90 Lakhs aggregating Rs. z3,75,oool- on 1g/ozl17 and another Term Loan for Vehicte of Rs. 1 .88 Lakh on 3ologl17 . ln consideration of the sanction of credit facitities the Defendant No. 1 as borrower, Defendant No. 2 as guarantor in addition to execution of loan and guarantee documents have also created equitabte mortgage over the immovabte property, i.e., Ptot no. 104, ward no. 12, parikrama Road, chattarpur, M.P. Khasra no.605i1 /1/l admeasuring o.oz2 hectare, pHN - 66 situated at Mauja Patotha, Tehsit & District: Chattarpur; betonging to Defendant No.-2. The Defendant No.-1 atso hypothecated vehicte Baxy superking bearing Engine No.-A7G1 1095481 and chassis No.-

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oA 549122

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MCS3EAC23JAC07809^{in favour Appticant Bank. The Defendant No.-1 avaited} the credit facitities -and^{atso executed Batance& Security Confirmation} Letter on 30/06119.^{The account was subsequenttyctassified as Non-} performing Asset on 31-08-2019 and the Defendants faited to^tiquidatethe outstanding dues^{despiteissuanceof Demand Notice dated12/09119ul13(7)} of the securitisation^{Act by the Appticant Bank. The Appticant-Bankhas} retied upon the^{documentsat Ex A-1 to A-14which were proved by shri} Rajesh Kumar Thakur,^{ChiefManager.}

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Despite service of notice,^{the Defendantsneitherappeared nor} fited written statement.^{Theywere proceededex-partevide order dated} 31l01lZ4. There^is therefore,^{no reason to disbelieve the contentionsof the} Bank. Considering the facts^{of the case, I opinethat the Defendantsare} jointty and severatty tiabte to pay the ctaim amount together^{with interest} and costs. The Appticant-Bank in^{its appticationhas ctaimedcontractua[} rate of interest with monthty^{rests. However, I feet it fair and reasonabte to} grant interest @10% p.a. simpte^{pendentetite and future titt realizationof} the dues. The mortgaged^{property and hypothecated Vehicte Baxy Superking} bearing Engine No.-A7G11095481^{and Chassis No.-MCS3EAC23JAC07809 are} tiabte to be sotd for recovery^{of amount due atong with the personal} properties and assets of the Defendants.

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The Originat Apptication is atlowed^{and it is orderedas under-}

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i) The Defendants do^{pay jointty and severatty Rs. 37,22,623.00} (Rupees Thirty Seven Lakhs Twenty Two Thousand,^{Six Hundred and Twenty} Three onty) together with^{pendentetite and future interest @10%per annum} simpte from the date of fiting^of the^{OA, i.e.,79104/22,with costs titt its} reatization.

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ii) The AppLicant Bank is entitled to^{se[[ the mortgagedand} hypothecated Vehicte Baxy Superking^{bearing Engine No.-A7G11095481 and} Chassis No.-MCS3EAC23JAC07809^{as wetlas personal propertiesand assets of} the Defendants for reatization of its^{dues. The Defendants are hereby} restrained by means of injunction from^{depteting,transferring,} encumbering, alienating or in any way deating with^{their properties/assets} without first paying the ctaim of the Appticant^Bank.

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oA 549t22

iii) A Recovery certificate be issued u/s 1g(zz) of Recovery of Debts and Bankruptcy Act. The appticant bank may fite a memo of cost within 7 days for preparing Recovery Certificate.

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Judgment pronounced in the open court on this 29th Day of January ,2026.

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$S$/'' (Pravas Kumar Singh) DRT Lucknow lncharge DRT Jabatpur

Punjab National Bank v. Mohammad Adil S/O Abdul Hameed Proprietor of M/S Super Steel Industries

Case brief

What is this about?

What did the court decide?

Punjab National Bank v. Mohammad Adil S/O Abdul Hameed Proprietor of M/S Super Steel Industries

Case brief

What is this about?

What did the court decide?

What the court decided

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