The Debt Recovery Tribunal allowed the bank's original application for recovery of Rs. 1.05 crore against defaulted borrowers, granting a recovery certificate and directing payment within 30 days or sale of security.
Recovery certificate issued; defendants directed to pay Rs. 1.05 crore plus interest within 30 days or face recovery from sale of secured assets.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
T.A. No.278 of 2022
Debts Recovery Tribunal-I, Delhi 4th floor, Jeevan Tara Building, Parliament Street, New Delhi
Presiding Officer: Shri Govind Ballabh Sharma
T.A. No. 278 of 2022
Canara Bank
(e-Syndicate Bank) East Patel Nagar, 7, First Floor Sethi Bhawan, Rajendra Place, New Delhi-110008
Applicant
Versus
SSD Plaza, Shop No.107, 1st Floor Hardhyan Singh Road, Naiwala Near Gurudwara, New Delhi-110005
Also at:
M/s Lal Enterprises 2525/6, DTC Chamber, Gali No.6 Shop No.105, Beadon Pura
Karol Bagh, New Delhi-110005
Also at:
Mr.Rajesh Kumar R/o 2nd & 3rd Floor, House No.H-5/12 Malviya Nagar, New Delhi-110017 Defendants
Present: Sh.Hitesh, Counsel for the applicant bank
Date of Reserve: 13.05.2026
Date of Pronouncement: 29.05.2026
T.A. No.278 of 2022
FINAL ORDER
This original application has been filed by the applicant bank on 13.09.2022 before DRT-HI Delhi & then transferred to DRT-I Delhi under Section 19 of Recovery of Debts and Bankruptcy Act, 1993 against the defendants for recovery of a sum of Rs.1,05,94,453/- (Rupees One Crore Five Lacs NinetyFour Thousand Four Hundred Fifty-Three only) as on 31.08.2022 along with pendentelite and future interest @8.90% per annum with monthly rest from 01.09.2022 till the date of its realization and costs.
T.A. No.278 of 2022
Agreement cum Deed of Hypothecation and Guarantee Agreement on 30.01.2020 and 06.11.2020 with the applicant bank.
T.A. No.278 of 2022
ORDER
I, allow this OA and direct the defendants to pay to the applicant bank, jointly or severally, within a period of 30 days, a sum of Rs.1,05,94,453/- (Rupees One Crore Five Lacs Ninety Four Thousand Four Hundred Fifty Three only) as on 31.08.2022 together with pendentelite and future interest
T.A. No.278 of 2022
@8.90% per annum with monthly rest from 01.09.2022 till the date of its realization, failing which the aforesaid amount shall be recovered from the sale of hypothecated stocks, book debts and mortgaged Residential property being Entire 2nd & 3rd Floor at H-5/12, Malviya Nagar, New Delhi-110017 measuring 100 sq.yds. In case of shortfall, the same shall be recovered from the sale of movable and immovable property/assets of the defendant.
(II) The recovery certificate be issued forthwith and be sent to the Recovery Officer, Debt Recovery Tribunal-I, Delhi.
(III) Parties are directed to appear before the Recovery Officer, DRT I, Delhi on 28.07.2026.
(IV) Copies of final order as well as Recovery Certificate be sent to all concerned free of cost.
(GOVIND BALLABH SHARMA) PRESIDING OFFICER DRT-I, DELHI
(Dictated and pronounced in open court) Dated: 29.05.2026
2 issues framed by the court
Whether the applicant bank is entitled to recovery of the outstanding dues under the original application.
Whether the defendants are liable to pay the principal amount with interest and costs.
Canara Bank
M/s Lal Enterprises
Mr Mohit Nayyar
Mr Rajesh Kumar
Govind Ballabh Sharma
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
