BANK OF BARODA vs RAJ KUMAR on 26 February 2026

FINAL ORDER

This original application has been filed by the applicant bank on 08.08.2019 before DRT-III, Delhi and then transferred DRT-I, Delhi under Section 19 of Recovery of Debts and ankruptcy Act, 1993 against the defendants for recovery of a um of Rs.46,62,933/- (Rupees Forty Six Lacs Sixty Two Thousand Nine Hundred Thirty Three only) as on 05.08.2019 along with pendentelite and future interest @Contractual rate of interest with monthly rests from the date of filing this application till the date of realization along with costs.

2. The brief facts of the case are that on the request of the defendant being proprietor of M/s Nine Cable Network vide ilpplication dated 27.12.2017, the applicant bank sanctioned p verdraft facility of Rs.10.00 lacs (Rupees Ten Lacs only) and erm Loan facility of Rs.35.00 lacs (Rupees Thirty Five lacs :inly) under Stand Up Scheme on 03.01.2018 @10.55% interest per annum subject to change as per RBI guidelines long with @2% penal interest in case of default in repayment )f interest or instalment against hypothecation of stocks, machineries and book debts covered under CGTMSE scheme. In order to avail the loan facilities, the defendant Submitted loan application and executed Letter of Sole proprietorship, D.P Notes, Letter of Continuing Security, Letter of Undertaking, Power of Attorney, Letter of Installment with Acceleration Clause, Letter of Authority, Undertaking (CGTMSE), Composite Undertakings cum Declaration, omposite Hypothecation Agreement on 03.01.2018 with the applicant bank.

4. It has been submitted by the applicant bank that after availing the loan facilities, the defendant failed to comply with the terms and conditions of sanction and failed to regularize the accounts with the applicant bank. Ultimately, the applicant bank classified the account as NPA on 03.04.2019 but defendant made no efforts to regularize the accounts. Hence, the applicant bank has approached this Tribunal for recovery of their dues. Notices of this O.A. were issued to the defendant and espite of proper service, the defendant has chosen to absent from the proceedings. As per order dated 16.09.2025, the defendant has been proceeded ex-parte as not appeared 1:efore the tribunal and even written statement, evidence and affidavit of assets have not been filed by the defendant.

. In order to prove its case, the applicant bank has filed its evidence by way of affidavit of Sh.Rakesh Kumar Jain, authorized representative of the applicant bank, who has proved the documents such as Board Resolution dated 14.11.2017, Loan Application Form, Sanction Letter, Letter of ole Proprietorship, D.P. Notes, Letter of Continuing Security, letter of Undertaking, Power of Attorney, Letter of Installment with Acceleration Clause, Letter of Authority, Undertaking, Composite Undertakings cum Declaration, Composite 11ypothecation Agreement, Statement of Account marked as Ex.A-1 to Ex.A-15 (Colly).

7. The applicant bank has fully corroborated the averments iinade in the O.A. Even otherwise the whole case of the pplicant bank is based on the documents and the same have t een duly approved. B. The case filed by the applicant bank gone unrebutted and tiere is no question of disbelieving the case of the applicant bank and the applicant bank has proved its case beyond reasonable doubts. 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, within a period of 30 days, a sum of ls.46,62,933/- (Rupees Forty Six Lacs Sixty Two Thousand N ine Hundred Thirty Three only) as on 05.08.2019 together with pendentelite and future interest @12.55% per annum from the date of filing this application till the date of realization and costs; failing which the aforesaid amount shall be ecovered from the sale of hypothecated stocks, machinery and ook debts etc. In case of shortfall, the same shall be ecovered from the sale of movable and immovable properties of the defendant. II) The recovery certificate be issued forthwith and be sent o the Recovery Officer, Debt Recovery Tribunal-I, Delhi. Parties are directed to appear before the Recovery Officer, DRT I, Delhi on 28.04.2026. Copies of final order as well as Recovery Certificate be sent to all concerned free of cost. (GOVIND BALLABH S ARMA) PRESIDING OFFICER DRT-I, DELHI Dictated and pronounced in open court) ated: 26.02.2026