Allowed

Canara Bank (Syndicate Bank) v. M/S Home Enterprises

DRT27 Mar 2026TA/1260/2024

Case brief

AI extract

What is this about?

The applicant bank filed an original application for recovery of dues against respondent borrowers for defaults in a term loan and secured overdraft facility. The respondents appeared by expedient. The court allowed the application and ordered the payment of the principal amount along with interest.

What did the court decide?

The respondents were directed to pay Rs. 1,12,93,15/- along with interest and costs within 30 days. A Recovery Certificate was to be issued. The Respondents were ordered to appear before the Recovery

Canara Bank (Syndicate Bank) versus M/S Home… — Contract and Commercial Disputes | DRT (2026)

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BeforcsusHILKUMARRASroGIrPrcsidingofficer Debts RecovetY^{Tribuna!-Il' Delhi}

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TA No.1260^{OF 2024}

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CANARABANKERSTWHILESYNDICATEBANKVS HOME ENTERPRISES^{& ORS}

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Reserued on : 11'02'2026 Pronounced^{on z 27,03'2026}

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Canara^Bank Erstwhile^{SYndicate Bank} Vs. 1. Home^EnterPrises 2. Sh. Padam^Jain

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Smt.^AnjaliJain

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-Applicant bank

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Defendants

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Present: Ms. Chitra^{Malhotra, Counsel appearsfor} applicant^bank. Deiendants^{are exparte since 23'09'2024'}

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FINAL^ORDER

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This original^{application has been filed by the} applicant^{bank, on 25'OL'2OZL through Mr' Kaushik} Majumdar,ChiefManageroftheapplicantbank'under SectionlgoftheRDBAct,lgg3againstthedefendants for recovery^{of a sum of Rs.1,12,93,15L/- along with} interest^{at the prevailing rate of @9'85o/o per annum in} Secured^{Over Draft accountand @12'10o/oper annum} in Term^{Loan account from date of fiting of this o'A' till} the realization^{in full'}

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2.Thebrieffactsofthecasearethatattherequest ofthedefendantno'lthroughdefendantnos'2&3' the applicant^{bank sanctioneda Secured Overdraft} Facility of^{Rs.50,00,000/-andTermLoan Facility of} Rs.43,00,OOO/-,videsanctionletterdatedL5'07'20L7'

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TA NO.^{1260 of 2024}

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Thedefendantsexecutedallnecessaryloaning documentsonts.OT'20t7,2g'Og'20L7'L8'07'20L7 and2g.04,zotg.Thedefendantsalsoagreedtocreate achargebywayofhypothecationofstocksandbook debtsforsecuredoverdraftfacilityandalsoagreedto createachargebywayofhypothecationofmachinery for term^{loan facilitY'}

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It^{is further submitted that the defendants} enjoyedandutilizedtheLoanfacilities,butfailedto maintain^{the frnancialdiscipline and failed to repay the} due amounts.^{The applicantbank requested the} defendantstoregularizetheloanaccountbyvisitsand letters,^{but there was no response from the} defendants,hencetheaccountwasclassifiedasNPA on 20.04.2019.^{The applicantbank serued a Legal} noticedatedtg.oS.2olgtothedefendantsbutfailedto recoverthesame'Thus,thepresentO'A'fl-'A'is preferred by^{the applicant bank to recover its dues'}

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On^{noticeby this Tribunal'defendants failed to} putappearanceatall,despitepublication'Accordingly' the defendants^{were proceededagainstexapfte on} 23.09.2024.

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5.^{The applicant bank has frled evidenceby way of} affidavit^{of Sh. KaushikMajumdar,chief Manager of} the applicant^{bank as Annexure A-1 to AnnexureA-19'} which^{have gone unchallengedand un-rebutted'} Hence,^{the case of the applicant stands fully} establishedagainstthedefendantswithrespectto nonpayment^{of outstanding amount'} gA\

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TA NO.^{1260 of 2024}

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6.Afterperusingtherecords,thisTribunalisofthe view that^{the applicant bank has provedits case} beyond^{reasonable doubts' The evidenceand} documents^{filed by the applicant bank not rebuttedby} the defendants^{by not placing any evidenceand there} is no^{question of disbelievingthe evidenceand} documentsRledbytheapplicantbankbaseduponthe written/ Pri^{nted docu ments'}

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Inthelightoftheabovediscussions,thepresentT.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} t) direct^{the defendant nos' 1 to 3 to pay jointly and} severallytotheapplicantbankwithin30daysfrom today, a^{sum of Rs'1,12,93'15U- along with cost'} expenses^{and interest@9'85o/oin secured over draft} [email protected]/ointermloanfacilityfromthedate of filing^{of this O'A' which has becomeT'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} recoveredfromthesaleofthehypothecatedassets.In case of^{short fall, the same shall be recover from the} saleofpersonalmovableandimmovableassetsofthe defendant^{nos. 1 to 3'}

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3)^{RecoveryCertificate be issued forthwithand be} sent to^{Recovery Officer, Debts Recovery Tribunal-Il'} -;i-1 Derhi.

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TA NO. 1260 of 2024 4

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

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Parties are directed^{to appear before the Ld.} Recovery Officer, DRT-II,^{Delhi on 28.05.2026.Pending} IAs, if dry, stand disPosed^of.

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File be consigned to^records.

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-'-+'!-_ e4

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Date : 27.03.2026

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(SUSHIL KUMAR RASTOGI) PRESIDING OFFICER DRT-II, Delhi

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This^judgement has^been signed, dated and

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pronounced in oPen couft.

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--*-'-a'

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Date : 27.03.2026

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gx (susHIL KUIfTAR RASTobr) PRESIDING OFFICER DRT-II, Delhi

Canara Bank (Syndicate Bank) v. M/S Home Enterprises

Case brief

What is this about?

What did the court decide?

Canara Bank (Syndicate Bank) v. M/S Home Enterprises

Case brief

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What did the court decide?

What the court decided

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