Allowed

Indian Overseas Bank v. M/S Arkith Hotels Pvt. Ltd.

DRT19 Jun 2026TA/177/2024

Case brief

AI extract

What is this about?

In an application u/s 19 of the RDB Act, 1993, the bank sought recovery of arrears from defaulting borrowers. Proving the loan documents and non-repayment unchallenged due to absent respondents, the Tribunal allowed the application and directed joint and several repayment within 30 days.

What did the court decide?

Direction to pay Rs.27,78,295.19 plus interest and costs within 30 days; order to issue recovery certificate.

Indian Overseas Bank versus M/S Arkith Hotels Pvt. Ltd. — Execution and Attachment | DRT (2026)

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Before SUSHIT KUMAR RASTOGI, presiding Officer Debts Recovery Tribunal_Il, Delhi

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TA No.177 OF ZOZ4

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INDIAN OVERSEAS BANK VS M/S ARKITH HOTETS PvT tTD & ORS

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Reserued on : 15.O5.2026 Pronounced on : 19,O6.2026

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Indian Overseas Bank Vs.

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-Applicant bank

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M/s Arkith Hotets pvt Ltd

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Mr. Barid Baran Das

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Mr. Vivek Kumar Lohani

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Defendants

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Present: Shri. Harirnohan Kumar, Counsel appears for applicant bank. Defendants are expafte, since, 3O.O4.2OZS.

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FINAL ORDER

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This originar apptication has been fired by the applicant bank, on 24.09.2079 through Mr. Anshut Tiwari, Assistance Manager and Authorized officer of the applicant ban( under section 19 of the RDB Act, 1993 against the defendants for recovery of a sum of Rs.27,78,295.19 together with cost, charges and pendentellite and future interest @L3.20o/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.l through defendant nos.2 & 3, the applicant bank sanctioned a cash credit Facility of Rs.2 Lakhs and Term Loan Facirity of Rs.7 Lakhs. The term loan agreement was executed on L4.rr.zor4 and credit sanction advice was also signed on 13. lL.2oL4. The defendants have executed att necessary roaning documents on L4.r122014- Jhe defendant nos.2 & 3

s.I

TA NO. 177 of 2024

executed documents namety guarantee for roan, cash credit etc. dated 14.1L.2014. Again, at the request of defendants, the appricant bank sanctioned a cash credit Facitity remained of Rs.2 Lakhs and another term loan was executed between the appricant and the defendants of Rs.10 Lakhs against the hypothecation of machineries & furniture and fixtures. The defendants have executed ail necessary toaning documents on 06'06'2015' Again, at the request of defendants, the applicant bank enhanced the cash credit facility from Rs.2 Lakhs to Rs.2r.45 rakhs, vide sanction advice dated 18.03.2016. The defendants have executed art necessary loaning documents on 1g.03.2016.

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It is fufther submitted that the defendants enjoyed and utilized the Loan facilities, but failed to maintain the financiat disciprine and faired to repay the due amounts. The appricant bank requested the defendants to regurarize the roan account by visits and letters, but there was no response from the defendants, hence the account was crassified as NpA on 31.01 .2019. The appricant bank serued a recail notice dated 07.02.2019 to the defendants but failed to recover the same. Thus, the present O.A.fl-.A. is preferred by the appricant bank to recover its dues.

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on notice by this Tribunat, defendants faired to put appearance at ail, despite publication. Accordingry, the defendants were proceeded against expafte on 30.04.2025.

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The appricant bank has documents as Annexure P-1 to Annexure p-11, which have gone unchartenged and un-rebutted. Hence, tfre ca-gg of the applicant

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TA NO. 177 of 2024 3 stands fully estabrished against the defendants with respect to nonpayment of outstanding amount.

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6' After perusing the records, this Tribunar is of the view that the applicant bank has proved its case beyond reasonabre doubts. The documents fired by the appricant bank not rebutted by the defendants by not placing any evidence and there is no question of disberieving the documents fired by the appricant bank based upon the written/printed documents.

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

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ORDER

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I hereby ailow this T.A. of the appricant bank and direct the defendant nos.l to 3 to pay joinry and severaily to the appricant bank within 30 days from today, a sum of Rs.27 ,78,295.19/_ along with cost, expenses and interest @72o/o from the date of filing of this o.A. which has become T.A ti, the date of realization.

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In case of fairure to deposit the above amount within the stipulated period, the same shall be recovered from the sate of hypothecated assets. In case of short fail, the same shart be recovered from the sare of personar movabte and immovabre assets of the defendant nos.1 to 3.

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

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TA NO. 177 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 pafties.

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Parties are directed to appear before the Ld. Recovery Officer, DRT-II, Delhi on 19.08 .2026. Pending IAs, if any, stand disposed of.

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File be consigned to records.-

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(susHrL Kult4AR RASTOGI) PRESIDING OFFICER DRT-II, Delhi

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Date : L9.06.2026

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This^judgement has been signed, dated and

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pronounced in open couft.

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Date : 19.06.2026

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'A\ (susHrl KUpaR nnslbcr) PRESIDING OFRCER DRT-II, Delhi

Indian Overseas Bank v. M/S Arkith Hotels Pvt. Ltd.

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Indian Overseas Bank v. M/S Arkith Hotels Pvt. Ltd.

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