Allowed

Punjab National Bank v. M/S Rawat Tours and Travels

DRT1 Apr 2026TA/1292/2023

Case brief

AI extract

What is this about?

The Debt Recovery Tribunal granted the interim application filed by Punjab National Bank against M/s Rawat Tours and Travels and Vimal Jha. The court upheld the applicant_s evidence and directed the respondents to pay the outstanding principal, costs, and interest.

What did the court decide?

Directed respondents to pay Rs. 11,55,038 plus cost and interest within 30 days; recovery certificate issued; enforcement against assets if default.

Punjab National Bank versus M/S Rawat Tours and Travels — Banking and Recovery | DRT (2026)

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Before susHrl KUtr,rAR RASTOGT, presiding officer Debts Recovety Tribuna,-tt, Oeihi

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puNrABNArroN^'fJfrii?r',31r'fliilorrouRsAND

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TRAVELS & ORS

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Reseryed on : 09.03.2026 Pronounced on : Ol,O4. 2026

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Punjab National Bank Vs.

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-Applicant bank

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M/s Rawat Tours and Travels

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Vimal Jha - Defendants

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Present: Shri. G.p.S Verma, Counsel appears for applicant bank. Defendants are exparte since LZ.O4.ZO23.

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FINAL ORDER

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This originar apprication has been fired by the applicant, on 77.02.2018 through Mr. Gs Khori, officer of the appricant, under Section 1g of the RDB Act, 1gg3 against the defendants for recovery of a sum of Rs.11,55,0381- together with cos! charges and pendentellite and future interest @11 .6Oo/ofrom date of filing of this O.A. till the realization in full.

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The brief facts of the case are that at the request of the defendanb, the appricant bank sanctioned a cc Limit under the pradhan Mantri Mudra yojna scheme of Rs'10,00,0001- in respect of account bearing number 3080008700000529 for the purpose of extension of its business. To secure the repayment of the roan amount, defendants hypothecated th., book debts of the S"\

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TA NO. t29Z of 2023 z defendant firm by executing an agreement for hypothecation of book debts.

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3' It is further submitted that the defendants enjoyed and utirized the Loan facirities, but faited to maintain the financiar disciprine and faired to repay the due amounts. The applicant requested the defendants to regurarize the roan account by visits and retters, but there was no response from the defendants. The applicant serued a roan recail notice dated 04.L2.2077 to the defendants but faired to recover the ,.me. Thus, the present o.A. rT.e. is preferred by the appricant to recover its dues.

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4' on notice by this Tribunar, defendants faired to put appearance at ail, despite seryice. Accordingry, the defendants were proceeded against exparte on 12.04.2023.

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5' The appricant bank has fired evidence by way of affidavit of shri. Bareshwar prasad, senior Manager of the applicant bank as paper no.l to paper no. 63 atong with the oA, which have gone unchailenged and unrebutted. Hence, the case of the appricant stands fuily 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 appricant has proved its case beyond reasonabre doubts. The evidence and documents fired by the applicant not rebutted by the defendants by not placing any evidence and therq is no guestion of 1)

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TA NO. 1292 of 2023

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disberieving the evidence and documents fired by the applicant based upon the written/printed documents.

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In the light of the above discussions, the present r.A. deserues to be allowed.

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ORDER

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I hereby aflow this T.A. of the Appricant and direct the defendant nos. 1 and 2 to pay joinry and severary to the appricant within 30 days from today, a sum of Rs'11,55,038/- along with cost, expenses and interest @ 11.600/o from the date of firing of this o.A. which has become T.A till the date of realization.

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In case of fairure to deposit the above amgunt within the stipurated period, the ,,me shafl be recovered from the sare of the hypothecated assets. In case of short fail, the same shail be recovered from the sale of personar movabre and immovabte assets of the defendant nos. 1 and 2.

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Recovery ceftificate be issued forthwith and be sent to Recovery officer, Debts Recovery Tribunar-Il, Delhi.

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The registry of this Tribunar is hereby directed to issue free copy of the order and send the same to both the parties. la^-

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la^-

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TA NO. tZ92 of 2023 4 5)^parties are directed to appear before the Ld. Recovery officer, DRT-II, Derhi on 01.06 .zo26.pending IAs, if any, stand disposed of.

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File be consigned to records.

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5J'

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Date : 01.04.2026

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(susHr L ru uni, nhsrocr) PRESIDING OFFICER^' DRT-II, Delhi

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This judgement has been signed, dated and pronounced in open court.

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Date : 0t.04.2026

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€) (susHrl (UrqRR' RASTOGT) PRESIDING OFEICER^' DRT.II, De|hi

Punjab National Bank v. M/S Rawat Tours and Travels

Case brief

What is this about?

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Punjab National Bank v. M/S Rawat Tours and Travels

Case brief

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