Allowed

Indian Overseas Bank v. Pulkit Kundra

DRT23 Jun 2026TA/737/2022

Case brief

AI extract

What is this about?

In this application under Section 19 of the RDB Act, 1993, the Debts Recovery Tribunal allowed the bank's claim for recovery of an outstanding loan amount of Rs. 76,76,740 along with interest and costs, as the respondent appeared ex parte.

What did the court decide?

Direct the respondent to pay Rs. 76,76,740 along with cost, expenses and interest @9% per annum within 30 days; in case of default, recover the amount from the sale of the hypothecated Audi Q7 vehicle

Indian Overseas Bank versus Pulkit Kundra — Contract and Commercial Disputes | DRT (2026)

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Before SUSHIL^{KUMARRASTOGI, Presiding} Officer Debts Recovery Tribunal-Il,^Delhi

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TA No.737 OF 2022

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INDIAN OVERSEAS^{BANK VS PULKITKUNDRA}

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Reserued on : 12.06.2026 Pronounced on^{: 23.O6.2026}

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Indian Overseas Bank -Applicant bank Vs. - Sole defendantSole defendantdefendant Pulkit Kundra

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Sole defendantSole defendantdefendant

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Present Shri. Prem Chhetri,^{Counselappears for} applicant bank. Sote defendant is^{exParte, since,} 26.t2.2025.

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FINAL ORDER

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This original application^{has been filed by the} applicant bank, on^{06.07 .2020through shri. chandra} Bhushan, Chief^{Manager and AuthorizedOfficer of the} applicant bank,^{under section19 of the RDB Act, 1993} against the sole^{defendantfor recovery of a sum of} Rs.76,76,7401-^{together with cost, charges and} pendentellite and future^{interest@9olo 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 sole defendant,^{the applicant bank sanctioned Term} Loan Facility of^{Rs.76,00,000/-for purchaseof Audi Q7,} vide sanction letter^{dated 06.12.2018. The sole} defendant executed^{all necessaryloaningdocuments} on 06. LL,}OLB.^{Apart from other terms and conditions,} the credit facility^{shall be primarily securedby} ---^{t. -} 9)"'"

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TA NO. 737 of 2022

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hypothecation of one new four-wheeler Audi Q7 in the name of borrower.

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It is further submitted that the sole defendant 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 sole defendant to regularize the loan account by visits and letters, but there was no response from the sole defendant, hence the account was classified as^{NPA on} 30.09.2019. The applicant bank serued a legal demand dated 05.10.2019 to the sole defendant 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 Tribuna!, sole defendant^failed to put appearance at all, despite^publication. Accordingly, the sole defendant was^{proceeded against} exparte on 26.L2.2025.

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The applicant bank^{has filed evidenceby way of} affidavit of Sh. Chandra^{Bhushan,chief Managerof the} applicant bank as Paper^{No.1 to Paper No.40,which} have gone unchallenged and un-rebutted.^{Hence, the} case of the applicant stands^{fully established against} the sote defendant with^{respect to nonpayment of} outstanding amount.

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After^perusing the^{records, this Tribunalis of the} view that the applicant^{bank has provedits case} beyond reasonable doubts.^{The evidenceand} documents filed by the^{applicant bank not rebuttedby} ga

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TA NO. 737 of 2022

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the sole defendant by not placing any evidence and there is no question of disbelieving the evidence and documents filed by the applicant bank based upon the written/pri nted docu ments.

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In the light of the above discussions, the present T.A. deserues 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 sole defendant to pay to the applicant bank wlthin 30 days from today, a sum of Rs.76,76,7401along with cost, expenses and interest @9olo 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 hypothecated vehicle i.e., Audi Q7 registration no. DL 3C CR 1989. In case of short fall, the same shal! be recovered from the sale of personal movable and immovable assets of the sole defendant.

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Recovery Certificate be lssued fofthwith and be sent to Recovery Officer, Debts Recovery Tribunal-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. .,

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i, .,

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TA NO. 737 of 2022 4 5) Pafties are directed to appear before the Ld. Recovery Officer, DRT-II, Delhi on 24.08.2026. Pending IAs, if any, stand disposed of.

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File be consigned to records.

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Date :23.06.2026

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(susHrL KUMAR nfi$ibcil PRESIDING OFFICER DRT-II, Delhi

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

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g,\

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Date :23.06.2026

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

Indian Overseas Bank v. Pulkit Kundra

Case brief

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Indian Overseas Bank v. Pulkit Kundra

Case brief

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