Debts Recovery Tribunals and Appellate Tribunals
CANARA BANK vs M/S R.K PACKAGING AND ORS on 21 February 2026
Debts Recovery Tribunal-I, Delhi
4th floor, Jeevan Tara Building,
Parliament Street, New Delhi
Presiding Officer: Shri Govind Ballabh Sharma T.A. No. 2554 of 2022
Canara Bank
(e-Syndicate Bank)
J.T.D. Building, Chandni Chowk
Delhi-110006
Versus
1. M/s R.K. Packaging
Through its partners
Khasra no.195, Daulatabad Road Industrial Area, Near Toyota Showroom Gurgaon, Haryana-122050
2. Sh.Mohan Shyam s/o Late Sh.Hardayal
R/o 57, VP0 Palason, Dist. Mathura
Uttar Pradesh-281502
3. Sh.Kanhaiya Lal Sharma s/o Late Sh.Hardayal 57, VPO Palason, Dist. Mathura yttar Pradesh-281502
Applicant
Defendants
Present: Sh. Shaurya Kapoor, Counsel for the applicant Bank Date of Reserve: 09.02.2026
Date of Pronouncement: 21.02.2026
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FINAL ORDER
This original application has been filed by the applicant bank on 14.01.2021 before DRT III Delhi and then transferred DRT-I Delhi under Section 19 of Recovery of Debts Due to Banks and Financial Institutions Act, 1993 against the defendants for recovery of Rs.74,77,494.11 (Rupees Seventy
Four Lacs Seventy Seven Thousand Four Hundred Ninety Four and paisa Eleven only) out of which Rs.18,66,136.45 alongwith interest @10.80% per annum and Rs.56,11,357.66/- alongwith interest @9.85% per annum plus @2% penal interest from Q5.05.2020 till the date of realization alongwith costs.
2. The brief facts of the case are that at the request of defendant no.1 through its partners / guarantors being defendant no.2 and 3 vide loan application dated 28.07.2015, the applicant bank sanctioned SOD limit of Rs.50,00,000/- (Rupees Fifty Lacs only) @11% interest per annum and Term loan of Rs.25,60,000/- (Rupees Twenty-Five Lacs Sixty Thousand only) on 10.08.2015 @11.45% interest per annum to be repaid in 81 EMIs of Rs.46,699.25 against hypothecation of stocks, book debts and machinery. The applicant bank renewed the SOD limit on 01.02.2018.
3. That in order to avail the loan facilities, the defendants submitted loan application dated 28.07.2015 and executed Cornposite Hypothecation Agreements ASD-4, Guarantee Agreements ASD-6, D.P.Note, Power of Attorney for Collection of Bills, Book Debts and others in favour of the applicant bank on 10.08.2015 and 15.02.2018.
1. It has been submitted by the applicant bank that after availing the loan facilities, the defendants failed to maintain financial discipline and comply with the terms and conditions of sanction and neglected to pay outstanding dues in time to the applicant bank. Ultimately, the applicant bank classified the account as NPA on 31.07.2019 as per RBI guidelines and issued lOgal notice dated 29.05.2020 but defendants neglected the Same. Hence, the applicant bank has approached this Tribunal for recovery of their dues.
5. Notices of this O.A. were issued to the defendants and despite of proper service, the defendants have chosen to absent from the proceedings. As per order dated 18.10.2024, the defendants have been proceeded ex-parte as not appeared before the Tribunal and even no written statement, evidence and affidavit of assets has been filed by the defendants.
6. In order to prove its case, the applicant bank has filed its evidence by way of affidavit of Shri Anil Kumar Jain, authorized representative of the applicant bank who has proved the documents as Power of Attorney, Loan Application, Sanction Letter,. Composite Hypothecation Agreements, Guarantee Agreements, D.P. Note, Power of Attorney for Collection of Bills, Book debts & Ors., Recall Notice, Certified Statement of Account under Banker's Evidence Act marked as Ex.AW-1/1 to Ex.AW-1/14 (Colly).
7. 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.
8. The case filed by the applicant bank gone unrebutted and there is no question of disbelieving the case of the applicant bank and applicant bank has proved its case beyond reasonable doubts.
9. In the light of the above discussions, the Original Application deserves to be allowed.
ORDER
I, allow this OA and direct the defendants to pay to the applicant bank, within a period of 30 days, jointly or severally, a sum of Rs.74,77,494.11 (Rupees Seventy Four Lacs Seventy Seven Thousand Four Hundred Ninety Four and paisa Eleven only) out of which: Rs.18,66,136.45 alongwith interest @12.80% per annum; Rs.56,11,357.66 alongwith interest @11.85% per annum from 05.05.2020 till the date of realization, failing which the aforesaid amount shall be recovered from the sale of hypothecated stocks, book debts & machinery etc. In case of shortfall, the same shall be recovered from the sale of movable and immovable property/assets of the defendants. (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 22.04.2026. (IV) Copies of final order as well as Recovery Certificate be sent to all concerned free of cost. (GOVIND BALLA MA) PRESIDING OFFICER DRT-I, DELHI (Dictated and pronounced in open court) Dated: 21.02.2026