Allowed

Punjab National Bank v. M/S Delhi Transport Services

DRT23 Jul 2026TA/1115/2023

Case brief

AI extract

What is this about?

The Tribunal allowed the applicant bank's application for recovery of dues totaling Rs. 11,83,008/- along with interest and costs against the sole defendant who was absent. Directions were issued for issuance of Recovery Certificate and recovery from sale of assets.',

What did the court decide?

Direction to pay Rs. 11,83,008/- with interest/costs within 30 days; Recovery Certificate to be issued; Recovery from sale of assets in default.

Punjab National Bank versus M/S Delhi Transport… — Contract and Commercial Disputes | DRT (2026)

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Before^{SUSHIL KUMARRASTOGI' Presiding Officer} Debts^{RecovelTTribunal-Il' Delhi}

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TA No'1115^{OF 2023}

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puNrAB NArroNAL tt+$?gs^{DELHr rRANsPoRr}

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Reserved^on : 09'O6'2026 23'07'20.26 Pronounced^on "

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Punjab^NationalBank Vs. M/s Delhi^{TransPortServices}

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-ApPlicant^bank

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Sole defendant

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Present:^{Ms. Shreshtha'Counselappears for applicant} bank' Sole^{defendant is exparte'since' 16'12'2025'}

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FINAL^ORDER

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This original^{applicationhas been flled by the} applicant^{bank, on t7 '02'2018through Mr' GS Kohli'} Officer^{of the applicant bank' underSection 19 of the RDB} Act,^{1993 against the sole defendantfor recovery of a} 'sum of Rs'11,83,008/-^{together with cost' charges and} pendentellite^{and future interest@11'600/o from date of} filing^{of this O'A' till the realization in tull'}

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2.^The brief^{facts of the case are that at the request} of sole^{defendant, the applicantbank sanctioned a CC} Limit under^{the PradhanMantriMudra Yojna Scheme} ts further^{submitted to} FacilitY^{of Rs,10,00,000/-'It} secure^{the repayment of the loan amount;sole defendant} the book^{debts of the defendant firm bY} hy executi ng an^{agreement for hypothecation of book debts'}

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TANO.^{1115of 2023} 2 The^{soledefendantexecuted allnecessary} loaning^{documentson 13'05'2016'}

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3.^{It is further submitted that the soledefendant} enjoyed^{and utilized the Loan faciliUes' but failed to} maintain^{the financial discipline and failed to repay the} due^{amounts'The applicant bankrequestedthe sole} defendant^{to regularize the loan accountby visitsand} letters,^{but there was no responsefrom the sole} defendant.^{The applicantbank served a loan recall notice} dated^{04.12'2017 to the sole defendantbut failed to} recover^{the same Thus, the present o.A.fl-.A. is preferred} by the^{appticant bank to recover its dues'}

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On^{noticebY this Tribunal'sole defendant failed to} put apPearance^{at all'desPite Publication'AccordinglY,} the sole^{defendant wasproceeded againstexparte on} t6.t2.2025.

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5.^{The applicant bank has frled documents along with} O.A.^{as Paper No'1 to Paper No'35' which have gone} unchallenged^{and un-rebutted'Hence' the case of the} applicant^{stands fully estabtishedagainst the sole} defendant^{with respect to nonpaymentof outstanding} amount.

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6.^{After perusing the records'this Tribunal is of the} view^{that the applicant bank has proved its case beyond} reasonable^{doubts' The documentsfiled by the applicant} bank^{not rebutted by the sole defendantby not placing} any^{evidence and there is no questionof disbelievingthe} documents^{flled by the applicantbank based upon the} written/Printed^documents'

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In the^{light of the above discussions'the present T'A'} desewes^{to be atlowed'} -- -

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ORDER

TA NO.^{lll5 of 2Q23}

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I^{hereby allow this T'A' of the applicant bank and} direct^{the sole defendantto pay to the applicant bank} within^{30 days from today' a sum of Rs'11'83'008/-along} with^{cost, expensesand interest @11'600/o from the date} of fiting^{of this O'A' which has become T'A titl the date of} realization.

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In^{case of failure to deposit the aboveamount} within^{the stipulated period' the same shall be recovered} from the^{sale of personal movable and immovableassets} of the^{sole defendant'}

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3)^{Recovery Certiflcate be issuedforthwith and be sent} to Recovery^{Officer, Debts Recovery Tribunal-Il'Delhi'}

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4)^{The registryof this Tribunal is hereby directedto} issue free^{copy of the order and send the same to both} the Parties.

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5)^{Parties are directed to appearbefore the Ld'} Recovery^{Officer, DRT-II' Delhi on 23'09'2026'Pending} IAs, if^{anY,standdisPosed of'}

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File be^{consigned to records'}

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sA (susHIL KUMAR^nAs+fbctl Dale:23.07.2026 PRESIDING^OFFICER DRT-II,^Delhi

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This^{judgement has been signed' datedand}

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pronounced^{in oPen court'}

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Date:23.07.2026

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(susHIL rr]rqnn^(A$roct) PRESIDING^OFFTCER DRT-II,^Delhi

Punjab National Bank v. M/S Delhi Transport Services

Case brief

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Punjab National Bank v. M/S Delhi Transport Services

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