Bank of Baroda v. Al Faiz
Case brief
What is this about?
The Debt Recovery Tribunal allowed an application by Bank of Baroda in absentia against defendant AI Faiz Khan for recovery of Rs. 25.43 lakhs. The bank demonstrated forgivable documents including loan agreements and notices, which were accepted as probative.
What did the court decide?
Order for payment of Rs. 25,43,328.77 with interest and costs within 30 days; direction to issue Recovery Certificate; direction for sale of mortgaged and other assets in case of default.
What the court decided
T.A. No. 104 of 2024
Debts Recovery Tribunal-I, Delhi 4th floor, Jeevan Tara Building, Parliament Street, New Delhi
Presiding Officer: Shri Govind Ballabh Sharma
T.A. No.104 of 2024
Bank of Baroda B-218, Priyadarshini Vihar Khureji Khasi Delhi-110092 Applicant Versus Sh.AI Faiz s/o Farooq ,Khan Proprietor M/s Paramount Trading Company 10/370-A, Lalita Park, Laxmi Nagar Delhi-110092 Also at: Sh.AI Faiz s/o Farooq Khan Ground Floor, Part of Property No.D-287, Gali No.11, Laxmi Nagar, Delhi-110092 Defendant Present: Shri Umesh Joshi, Counsel for the applicant bank Date of Reserve: 25.05.2026 Date of Pronouncement: 15.06.2026 FINAL ORDER
This original application has been filed by the applicant bank before DRT-I, Chandigarh and then transferred to DRT-I Delhi on 19.11.2024 under Section 19 of Recovery of Debts and Bankruptcy Act, 1993 against the defendant for recovery of a sum of Rs.25,43,328.77 (Rupees Twenty Four Lacs Forty Three Thousand Three Hundred Twenty Eight & paisa Seventy Seven only) as on 06.10.2024 along with pendentelite and future
T.A. No. 104 of 2024
interest @11.75% per annum with monthly rests plus @2% penal interest from the date of filing of this application till its realization with costs.
- The brief facts of the case are that on the request of the defendant vide loan application dated 30.02.2023 received thru KVIC Delhi East along with various documents, the applicant bank sanctioned Term Loan of Rs.14,25,000/- (Rupees Fourteen Lacs Twenty Five Thousand only) and Cash Credit facility of Rs.9,50,000/- (Rupees Nine Lacs Fifty Thousand only) on 30.12.2023 @11.75% interest per annum with monthly rests under PMEGP for purchasing machinery and working capital requirements against hypothecation of sewing machinery purchased out of bank finance including garments, clothes, fabrics etc. covered under CGTMSE scheme. The term loan was to be repaid in 60 EMIs of Rs.23,750/- from 31.07.2024.
Issues for consideration
1 issue framed by the court
Whether the application for recovery of secured dues against a defaulting loan帐户 should be allowed on ex-parte recording of evidence.
Parties & counsel
- applicant
Bank of Baroda
- respondent
Sh. AI Faiz s/o Farooq Khan
Coram
Shri Govind Ballabh Sharma
Case details
As recorded by the court registry
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