Allowed

Canara Bank ( Erstwhile Syndicate Bank) v. M/S Srs Traders

DRT19 Jun 2026TA/296/2023

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed the Origin Application filed by Canara Bank to recover outstanding dues from defendants who failed to repay a cash credit facility, directing payment within 30 days and issuing a recovery certificate.

What did the court decide?

Defendants directed to pay Rs.23,84,799.69 with interest @9.75% p.a. and costs within 30 days; recovery certificate to be issued.

Canara Bank ( Erstwhile Syndicate Bank) versus M/S Srs Traders — Banking and Recovery | DRT (2026)

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Before SUSHIT KUMAR RASTOGI, presiding Officer Debts Recovery Tribunat-Il, Delhi

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TA No.296 OF ZO2g

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CANARA BANK (SYNDTCATE BANK) VS M/S SRS TRADERS & ORS

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Reserued on : 1g.05.2026 Pronounced on : 19.06.2026

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Canara Bank

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(Syndicate Bank)

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Applicant bank

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Vs.

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M/s SRS Traders

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Mrs. Lekhni Dua - Defendants

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Present: Ms. Smita, Counset appears for applicant bank. Defendants are expafte, since, LL.OZ.ZOIO.

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FINAL ORDER

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This originar apprication has been fired by the applicant bank, on 01.05.2019 through Ms. shivani Narula, chief Manager of the appticant bank, under section 19 of the RDB Act, 1993 against the defendants for recovery of a sum of Rs.23,84,7gg.69 together with cost, charges and pendentellite and future interest @t7.4o/o from date of filing of this o.A. tiil the realization in full.

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The brief facts of the case are that at the request of defendant no.1 through director/guarantor defendant no.2, the applicant bank sanctioned a cash credit Facility of Rs.22,00,000/- for working capital requirement, vide sanctioned retter dated 30.08.2017. In order to secure the credit coltateral security and primary security hypothecation on all types of stocks raw material, wIP, Finished ggods and any other goods sA

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TA NO. 296 of 2023

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of properties of defendant no.1/company. The defendants have executed art necessary roaning documents.

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It is further submitted that the defendants enjoyed and utilized the Loan facilities, but failed to maintain the financiar disciptine and faired to repay the due amounts. The appricant 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 crassified as NpA on 27.02.2079. The appricant bank served a regar notice dated 14.03.2019 to the defendants but failed to recover the same. Thus, the present O.A.fl-.A. is preferred by the applicant bank to recover its dues.

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on notice by this Tribunar, defendants faired to put appearance at ail, despite service. Accordingty, the defendants were proceeded against exparte on t2.02.2020.

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5' The appricant bank has fired evidence by way of affidavit of shri. Amit Babbar, chief Manger of the applicant bank as Annexure- A to Annexure Q, which have gone unchaflenged and un-rebutted. Hence, the case of the applicant stands fully established against the defendants with respect to nonpayment of outstanding amount.

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After perusing the records, this Tribunar is of the view that the appricant bank has proved its case beyond reasonabre doubts. The evidence and documents filed by the appticant bank not rebutted by the defendants by not praglqgqy evidence and there

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s,\

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TA NO. 296 of 2023 3 is no guestion of disbelieving the evidence and documents fired by the appricant bank based upon the written/printed documenb.

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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 appticant bank and direct the defendant nos.l and 2 to pay jointty and severaily to the appricant bank within 30 days from today, a sum of Rs.23,84,7gg.6g atong with cos! expenses and interest @9.75o/o from the date of filing of this o.A. which has become T.A tiil the date of realization.

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In case of faiture to deposit the above amount within the stipurated period, the same shail be recovered from the sale of hypothecated assets. In case of short fall, the same shall be recovered from the sate of personal movabre and immovabre assets of the defendant nos. L and 2.

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Recovery certificate be issued forthwith and be sent to Recovery officer, Debts Recovery Tribunal-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.

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TA NO. 296 of 2023 4 5) Parties are directed to appear before the Ld. Recovery officer, DRT-II, Delhi on 19.08 .zo26.pending IAs, if ?ry, stand disposed of.

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File be consigned to records. Date : L9.0G.2026 (SUSHIL KU MAR \ ) PRESIDING OFFICER DRT-II, Delhi

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

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.,,''rfi*..*-.,,,.' Date : 19.06.2026 (susHrl ruMAn"ffiStbcr ) PRESIDING OFFICER DRT-II, Delhi

Canara Bank ( Erstwhile Syndicate Bank) v. M/S Srs Traders

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Canara Bank ( Erstwhile Syndicate Bank) v. M/S Srs Traders

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