Allowed

Punjab National Bank v. M/S Parv Collection

DRT28 Jul 2026TA/541/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the applicant bank's original application filed under Section 19 of the RDB Act, 1993, for recovery of dues. The Tribunal found the case established beyond reasonable doubt as defendants appeared ex parte and failed to rebut the unchallenged documents, directing recovery of the principal amount along with interest.

What did the court decide?

Direct defendantnos.1 and 2 to pay Rs.1,57,52,501.09 with10% interest, recoverable from sale of mortgaged, hypothecated, or personal assets.

Punjab National Bank versus M/S Parv Collection — Banking and Recovery | DRT (2026)

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Beforc SUSHIL KUMAR RASTOGI, Presiding Officer Debts Recovery Tribunal-Il, Delhi

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TA No.541 OF 2022

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PUilJAB NATIONAL BANK VS M/S PARV COLLECTION & oRs

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Reserved on : 16.06.2025 Prcnounced on =^28.07.2026

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Punjab National Bank Vs. 1. M/s M/s Parv CollectionCollection 2. Mr. Pawan Verma

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M/s M/s Parv CollectionCollection

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-Applicant bank

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Defendants

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Present: Shri. Himanshu Upadhyaya, Counsel appears for applicant bank. Defendants are exparte, since, 26.05.2025.

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FINAL ORDER

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This original application has been filed by the applicant bank, on 12.03.2019 through Sh. Varinder Singh Bhandari, Chief Manager of the applicant bank, under Section 19 of the RDB Act, 1993 against the defendants for recovery of a sum of Rs.1,57,52,501.09 together with cost, charges and pendentellite and future interest @12.600lo^p.a. 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 the defendant no.1 through defendant no.2, the applicant bank Cash Credit Facility of Rs.100 lacs on 15.09.2016. The defendants executed all necessary loaning documents on 22.06.2017. In order to fu(her secure the liability under e".

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TANO. 541of2022 2

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the aforesaid facilities & loan, the defendant no.2 created equitable mortgage of freehold property bearing Plot No.C-129, Pandav Nagar, New Delhi on 12.09.2016 by depositing of original title deeds being registered sale deed dated 24.03.2016. Again, at the request of defendants, the applicant bank enhanced the^{fund based} working capital limit from Rs.100 Lacks to^{Rs.140 Lacks.} The defendants executed all necessary^loaning documents on 22.06.20L7. In order^{to fufthersecurethe} liability under the aforesaid facilities the^{defendantno.2} executed the letter of continuity dated^{23.06.2017 and} extended the aforesaid^{mortgageproperty in favour of} the applicant bank.

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It is further submitted that^{the defendants enjoyed} and utilized the Loan^{facilities, but failed to maintain the} financial discipline and failed to^{repay the due amounts.} The applicant 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 dated 30.06.2018.The} applicant bank served^{a recall notice dated 17.07.2018 to} the defendants but^failed to^{recover tte same Thus, the} present O.A.ff.A. is^preferred by the^{applicant bank to} recover its dues.

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On notice by this^{Tribunal,defendantsto put} appearance at all,^{despite seruice. Accordingly, the} defendants were^{proceededagainst exparteon} 26.05.2025. d-

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TA NO. 541 of 2022

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The applicant bank has filed documents along with O.A. as Annexure Ay'1 to Annexure Ay'11, 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.

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After^perusing the records, this Tribunal is of the view 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 T.A. deserves to be allowed.

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ORDER

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I hereby allow this T.A. of the applicant^{bank and} direct the defendant nos.1 and 2 to^{pay jointly and} severally to the applicant bank^{within30 days from today,} a sum of Rs.1,57,52,501.09 along^{with cost, expenses} and interest @10.00% 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^aboveamount within the stipulated^period, the^{sameshall be recovered} from the sale of hypothecated assets and^{the sale of} mortgage property bearing Plot^{No.C-129in abadi of C} Block, Pandav Nagar, Shahdra, New^{Delhi- 92. In case of} eA.

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TANO. 541of2022

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shortfall, the same shall be recovered from the sale of personal movable and immovable assets of the defendant nos.1 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 Tribunal is hereby^directedto issue free copy of the order and send the same to^both I the parties.

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Parties are directed to appear before the^Ld. Recovery Officer, DRT-II, Delhi on^{28.09.2026.Pending} lAs, if any, stand disposed of.

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File be consigned to records.

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Date:28.07.2026^{(suSHIL(uMAnnasrocU} PRESIDING OFFICER DRT-II, Delhi

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This^judgement has been^{signed, datedand}

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pronounced in oPen couft.

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Date:28.07.2026

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(SUSHIL KUMAR RASTOGI) PRESIDING OFFICER DRT-II, Delhi

Punjab National Bank v. M/S Parv Collection

Case brief

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Punjab National Bank v. M/S Parv Collection

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