Allowed

Invent Assets Securitization and Reconstruction Ltd. v. M/S Gold Star International

DRT18 Jun 2026TA/1344/2023

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the Recovery Application filed by the applicant bank to recover outstanding dues of Rs. 2.78 crores along with interest from the defendants following an ex parte hearing where documents remained unchallenged.

What did the court decide?

Respondents directed to pay Rs. 2,78,63,796 with 14% interest within 30 days; recoverable from mortgaged property or personal assets on default.

Invent Assets Securitization and Reconstruction Ltd. versus… — Banking and Recovery | DRT (2026)

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Before SUSHIL KUMAR RASTOGI, presiding Officer

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Debts Recovery Tribuna!-Il, Delhi

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TA No.1344 OF 2023

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IVENT ASSETS SECURITIZATION & RECONSTRUCTION PvT LTD & ORS

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Reserued on : 15.O5.2026 Pronounced on : 18.06.2026

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Invent Assets Securitization & Reconstruction Pvt Ltd

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-Applicant bank

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Vs.

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M/s. Gold Star Internationa!

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Mr. Manzoor Ahmed

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Mr. Syed Abdu! Majid

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Mohd Ismail Bhat

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Muzzaffar Ahmed Wani

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Defendants

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Present Shri. Tanvir Nayar, Counsel appears for applicant bank. Defehdants are exparte, since, L3.04.2023.

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FINAL ORDER

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This original application has been filed by^the applicant bank, on 15.03.20t9 through^{Mr. Atul Mishra,} Asst. Vice President of the applicant bank,^under Section 19 of the RDB Act, 1993 against^{the defendants} for recovery of a sum of Rs.2,78,63,796/-^{together with} cost, charges and^{pendentellite} and^{future interest} @18o/o^{from 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 defendant no.1, the applicant bank^sanctioneda Packing Credit Facitity of Rs.20^Lacs and^ForeignBill Purchase Facility of Rs.30 Lacs, vide^{sanctionletter} dated 24.07.L997. the said laci[es^{were sanctioned} ' (.\

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TA NO. 1344 of 2023

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against the equitable mortgaged of property bearing no.173-174, admeasuring 100 sq. yrds., entire 3'd Floor with terrace, Lajpat Nagar, part-Il, New Delhi owned by defendant no.2 and the facilities were personally guaranteed by the defendant nos.4 and 5. The loan documents were singed and executed by the defendant nos.l to 3 and the defendant nos.4 & 5 signed and executed the guarantee deed in their personal capacity.

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It is further submitted that the defendants enjoyed and utilized the Loan facilities, but failed to maintain the financia! disciptine and failed to repay the due amounts. The appticant 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. The applicant bank seryed a demand notice dated 05.06.2000 to the defendants but failed to recover the same. Thus, the present o.A.rl-.A. is preferred by the applicant bank to recover its dues.

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on notice by this Tribunat, defendants failed to put appearance at all, despite seruice. Accordingly, the defendants were proceeded against exparte on 13.04.2023.

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The applicant bank has documents as paper No.1 to Paper No.299, 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.

TA NO. 1344 of 2023

After perusing the records, this Tribunat is of the vlew 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/printed documents.

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In the light of the above discussions, the present r.A. deseryes to be altowed.

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ORDER

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I hereby ailow this T.A. of the applicant bank and direct the defendant nos.1 to 5 to pay jointly and severally to the applicant bank within 30 days from today, a sum of Rs.2,7g,63,7961- along with cost, expenses and interest @l4o/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 mortgaged property bearing no.173-174, admeasuring 100 sq. yrds., entire 3'd Floor with terrace, Lajpat Nagar, part-Il, New Delhi. In case of shoft fall, the same shall be recovered from the sale of personal movable and immovable assets of the defendant nos.1 to 5.

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Recovery certificate be issued fofthwith and be sent to Recovery officer, Debts Recovery Tribunat-Il, Delhi.

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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. - Sli

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TA NO. 1344 of 2023 4 5) Parties are directed to appear before the Ld. Recovery officer, DRT-II, Delhi on 18.08 .zoz6.pending IAs, if dfry, stand disposed of.

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File be consigned to records. : s) !: Date : 18.06.2026 (SUSHIL KUMAR nAsrdcr) 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 : 18.06.2026

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gA (susHrL KUMIR nnsrool PRESIDING OFFICER DRT-II, De|hi

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Invent Assets Securitization and Reconstruction Ltd. v. M/S Gold Star International

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Invent Assets Securitization and Reconstruction Ltd. v. M/S Gold Star International

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