Allowed

Punjab National Bank v. Bishan Devi Charitable Trust

DRT24 Aug 2026TA/1228/2024

Case brief

AI extract

What is this about?

The Debt Recovery Tribunal allowed the applicant bank's application filed under Section 19 of the RDB Act, 1993. The Tribunal found the case established due to lack of appearance by defendants. The bank was directed to recover the outstanding sum of Rs.3,16,53,774.72 with interest from the respondents jointly and severally.

What did the court decide?

Direct respondents to pay Rs.3,16,53,774.72 with cost and interest @12.50% within 30 days. Directed issuance of Recovery Certificate.

Punjab National Bank versus Bishan Devi Charitable Trust — Specific Performance | DRT (2026)

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Before SUSHIL KUMAR RASTOGI, Presiding Officer Debts Recovery Tribunal-Il, Delhi

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TA No.1228 OF 2024

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PUNJAB NATIONAL BANK VS BISHAN DEVI CHARTTABTE TRUST & ORS

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Reserued on 23L.O7.2O26 Pronounced on z 24.08.20.26

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Punjab National Bank Vs.

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-Applicant bank

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Bishan Devi Charitable Trust 2. Sh. Puneet Goyal

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Sh. Amit Goyal 4. Mrs. Veena Goyal

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Sh. AnilGoyal

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Piyush Buibwdllndia Limited - Defendants

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Present: Mr. Kailash Sharma, Counsel for applicant bank.

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Defendants are exparte, since, 04.11.2025.

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FINAL ORDER

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This original application has been filed by the applicant bank, on 10.09.2018 through Sh.^{Ashok Kumar} Garg, Manager of the applicant bank, under^Section19 of the RDB Act, 1993 against the defendants for^recovery of a sum of Rs.3,16,53,774.72 together with cost,^charges and^{pendentellite} and future interest @12.50%^{p.a. from} date of filing of this O.A. till the realization^{in full.} E).^</sup>

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TANO. 1228of2024 2

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The brief facts of the case are that at the^request of defendant no.1, the applicant bank^{sanctioneda Term} Loan Facility of Rs.490.00 Lacs, vide sanction^letter dated 29.09.2015 for construction of building of the^educational institution. The defendants executed all^necessary loa ni ng docu ments on 24.11.20L5. The above-^mentioned credit facilities were secured by the defendants^{i.e., (a).} Hypothecation of all movable assets^{includingfurniture} and fixtures, vehicles, instruments, computers^{an all-} other equipment as well as infrastructural^{proposed to be} financed out of the^proposed term loan.^{(b). The} defendant nos.2 to 5 stood as^{guarantors.(c). The} corporate^guarantee of defendant no.6,^{who stoodas} guarantor. (d). Equitable mortgage of Primary School Plot admeasuring 4070 Sq. Meters, forming^{part of Khewat} No.49, Khatoni No.78, Rect. No.31,^{Killa No.23l1(4-16),} Rect. No.33, Killa No.3(8-0), L3l2(3-4),^KhewatNo.50, Khatoni No.79, Rect. No.33, Killa No.13/1(4-6),^L0l2(4- 0), 11(7-0), l9l2(L-0),^{Kheat No.465,Khatoni No.629,} Rect. No.8, Killa No.11/2(0-9),^{19(0-7),2UL(5-3),} 2LlLl2(l-7), Khewat No.3B, Khatoni^{No.67, Rect. No.33,} Killa No.4(8-0), 7(6-8), 14(3-3),^{Rect. No'31, Killa} No.24l1(3-4) ,2412(L-L2),^{Khewat No.51, KhatoniNo.80,} Rect No.31 Killa No.21(6-8),^{Rect No.31, Killa No.22(6-} 8), Rect. No.33,^{Killa No.2(8-0),9(8-0), KhewatNo'51,} Khatoni No.80,81, Rect^{No.33, Killa No.17(0-9), 18/1(5-} t2), 78 I 2(2- r),^L9 I I^(6- t),^{1 2 (8- 0),19} I^{3(0 - t2), 22(2-3),} 23(5-3), Rect. No.35, Killa^{No'3(0-4) situated in} Residential Complex Piyush^{HeightswithinPiyush Heights} Complex, Sector-89, with^{in the revenue estate of Mauza} Riwazpur, Tehsil and District^{Faridabadin the name of} defendant no.6. +

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TANO. 1228 of 2024

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It is fufther submitted that the

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defendants enjoyed and utilized the Loan facilities, but failed to maintain the financial discipline and failed to repay the due amounts. The applicant bank requested the defendants to regularize the loan account by visits and letters, but there was no response from the defendants. Hence, the account was classified as NPA dated 31.01.2017. The applicant bank serued a demand notice dated 28.05.2018 to the defendants but failed to recover the same Thus, the present O.A.ff.A. is preferred by the applicant bank to recover its dues.

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On notice by this Tribunal, defendants failed to put appearance at all, despite publication. Accordingly, the defendants were proceeded against expafte on 04.Lt.2025.

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The applicant bank has flled documents along with O.A. as Annexure A/1 to Annexure A/23, which have gone unchallenged and un-rebutted. Hence, the case of the applicant stands fully established against the defendants with respect to nonpayment of outstanding amount.

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After^perusing the records, this Tribunal is of the view that the applicant bank has proved its case beyond reasonable doubts. The documents filed by the applicant bank not rebutted by the defendants by not^placing any evidence and there is no question of disbelieving the documents filed by the applicant bank based upon the written/pri nted docu 1ents.-

q.).'r

TANO. t228of 2024

In the light of the above discussions, the^present

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T.A. deserves to be allowed.

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ORDER

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I hereby allow this T.A. of the applicant bank and direct the defendant nos.1 to 6 to^{pay jointly} and severally to the applicant bank within 30 days from today, a sum of Rs.3,16,53,774.72 along with cost, expenses and interest @12.50o/o from the date of filing of this O.A. which has become T.A till the date of realization.

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In case of failure to deposit the above amount within the stipulated^period, the same shall be recovered from the sale of hypothecated assets and the sale of mortgaged . property i,€., Primary School Plot admeasuring 4070 Sq. Meters, forming^part of Khewat No.49, Khatoni No.78, Rect. No.31, Killa No.23l1(4-16), Rect. No.33, Killa No.3(8-0), L3lZ(3-4), Khewat No.50, Khatoni No.79, Rect. No.33, Killa No.13/1(4-6), l0l2(40), 11(7-0), L9l2(l-0), Kheat No.465, Khatoni No.629, Rect. No.8, Killa No.11/2(0-9), L9(0-7), zLlt(5-3), 2Lltl2(l-7), Khewat No.38, Khatoni No.67, Rect. No.33, Killa No.4(8-0), 7(6-8), 14(3-3), Rect. No.31, Killa No.24l 1(3-4), 24 I 2(L-L2), Khewat No.5 1, Khatoni No.80, Rect No.31 Killa No.21(6-8), Rect No.31, Killa No.22(6-8), Rect. No.33, Killa No.2(8-0), 9(8-0), Khewat No.51, Khatoni No.80,81, Rect No.33, Killa No.17(0-9), 18/1(5t2), t8 I 2(2- t), 19/ 1 (6- 1 ), 1 2(8-0), t9 I 3(0- t2), 22(2-3), 23(5-3), Rect. No.35, Killa No.3(0-4) situated in Residential Complex Piyush Heights within Piyush Heights Complex, Sector-89, with in the revenue estate of Mauza

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1r,

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TANO. 1228of2024 5

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Riwazpur, Tehsil and District Faridabad.^{In case of short} fall, the same shall be recovered^{from the sale of personal} movable and immovable assets^{of the defendantnos.1 to} 6.

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Recovery Certificate^{be issuedforthwith and be sent} to Recovery Officer,^{Debts Recovery Tribunal-Il,Delhi.}

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The registry of this^{Tribunal is hereby directedto} issue free copy of the^{order and send the same to both} the^pafties.

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Parties are directed^{to appear before the Ld.} Recovery Officer, DRT-II,^{Delhi on 26.L0.2026.Pending} IAs, if any, stand disPosed^of.

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File be consigned to^records.

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Date : 24.08.2026

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q; (susHrL I(JMAR Rlsl,u6fi 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 : 24.08.2026

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gA (susHr L r'uft-nn nA*to'crl PRESIDING OFFICER DRT-II, Delhi

Punjab National Bank v. Bishan Devi Charitable Trust

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Punjab National Bank v. Bishan Devi Charitable Trust

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