BANK OF MAHARASHTRA vs M/S SPVL ENTERPRISES on 19 September 2026

**FINAL ORDER**

This original application has been filed by the applicant bank on 30.04.2022 through Shri Pradeep Singh Rawat, authorized representative of the applicant bank under Section 19 of Recovery of Debts Due to Banks and Financial Institutions Act, 1993 against the defendant for recovery of a sum of Rs.21,55,401/- (Rupees Twenty One lacs Fifty Five thousand Four hundred One only) as on 19.04.2022 together with pendentelite and future interest @11.50% per annum with SD

monthly rests from the date of filing of this application till the date of realization and costs.

2. The brief facts of the case are that on the request of defendant as proprietorship concern of Smt.Sujata Sharma vide application dated 28.12.2017 along with PAN Card & Voter ID of applicant, the applicant bank sanctioned Cash Credit (Hyp.) limit of Rs.19,00,000/- (Rupees Nineteen lacs only) on 25.04.2018 @11.50% interest per annum under Stand up India Scheme as working capital against hypothecation of goods, book debts and current assets, covered under CGSSI Scheme.

3. That in order to avail the credit facility, the defendant submitted loan application dated 28.12.2017 and executed Demand Promissory Note (RF-46 & 47), Deed of Hypothecation (RF66J), Letter of Authority for adjustment of Deposit (F 273), Letter of Proprietorship (New AX3), Application / Request letter for making Credit Facility Available (New AX4) on 25.04.2018 in favour of the applicant bank.

4. The defendant acknowledged the liability vide Balance and Security Confirmation Letter (RF 58 B2/New DO2) dated 16.04.2021 towards applicant bank.

5. It has been submitted by the applicant bank that after availing the loan facility, the defendant miserably failed and neglected to pay the interest and installments in the account and failed to maintain financial discipline as per sanction terms. The applicant bank classified the account as NPA on 30.06.2021 as per RBI guidelines but defendant did not respond to clear the dues, hence, the applicant bank has approached this tribunal for recovery of its dues.

SD

6. Notices of this O.A. were issued to the defendant and despite proper service, the defendant has chosen to absent from the proceedings. As per order dated 02.02.2024, the defendant has been proceeded ex-parte as not appeared before the Tribunal nor written statement, evidence and affidavit of assets have been filed.

7. In order to prove its case, the applicant bank has filed its evidence by way of affidavit of Shri Pradeep Singh Rawat, authorized representative of the applicant who has proved the documents such as Authorization Letter Exhibit AW-1/1, Demand Promissory Note (RF-46 & 47) Exhibit AW-1/2, Deed of Hypothecation (RF66J) Exhibit AW-1/3, Letter of Authority for adjustment of Deposit (F 273) Exhibit AW-1/4, Letter of Proprietorship (New AX3) Exhibit AW-1/5, Application/ Request letter for making Credit Facility Available (New AX4) Exhibit AW-1/6, Balance and Security Confirmation Exhibit AW-1/7, Letter of Sanction Exhibit AW-1/8, Statement of Account Exhibit AW-1/9, Loan Application with PAN Card & Voter ID Exhibit AW-1/10, Copy of GST Registration Certificate & Electricity Bill Exhibit AW-1/11(Colly), Legal Notice with Postal Receipts & Tracking report Exhibit AW-1/12(Colly), Certificate of Officer in Charge of Computer Exhibit AW-1/13.

8. The applicant bank has fully corroborated the averments made in the O.A. Even otherwise the whole case of the applicant bank is based on the documents and the same have been duly proved.

9. The case filed by the applicant bank gone unrebutted and there is no question of disbelieving the case of the applicant SD

bank and the applicant bank has proved its case beyond reasonable doubts.

10. In the light of the above discussions, the Original Application deserves to be allowed.

**ORDER**

I, allow this OA and direct the defendant to pay to the applicant bank, jointly or severally, within 30 days, a sum of Rs.21,55,401/- (Rupees Twenty One lacs Fifty Five thousand Four hundred One only) as on 19.04.2022 together with pendentelite and future interest @11.50% per annum with monthly rests from 19.04.2022 till the date of realization along with costs failing which the aforesaid amount shall be recovered from the sale of hypothecated stocks, book debts, current / fixed assets etc. In case of shortfall, the same shall be recovered from the sale of movable and immovable properties 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 Recovery Officer, DRT I, Delhi on 18.11.2026.

(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: 19.09.2026