CANARA BANK vs NARENDRA KUMAR ANAND on 25 March 2026

**FINAL ORDER**

This original application has been filed by the applicant bank before DRT-II Delhi on 29.03.2019 and then transferred to DRT-I Delhi under Section 19 of Recovery of Debts and Bankruptcy Act, 1993 against the defendants for recovery of a sum of Rs.86,96,658/- (Rupees Eighty Six Lacs Ninety Six Thousand Six Hundred Fifty Eight only) as on 19.03.2019 along with pendentelite and future interest @11.75% per annum with monthly rests from 01.12.2018 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 Anand Enterprises, the applicant bank sanctioned Open Cash Credit (OCC) facility for a sum of Rs.65,00,000/- (Rupees Sixty Five Lacs only) as working capital on 14.10.2014 having sub-limit of Rs.30,00,000/- as ODBD against hypothecation of stocks/book debts which was reviewed on the request of defendant on 25.01.2017 by enhancing to Rs.74,00,000/- (Rupees Seventy Four Lacs only) on 10.09.2017.

3. In order to avail the loan facility, the defendant submitted loan application and executed Cash Credit Hypothecation Agreement, Agreement for Advances against Book Debts, Demand Promissory Note, Letter of Proprietorship, Sanction Letter and Supplemental Agreement on 15.10.2014 in favour of the applicant bank. In addition, the defendant executed Letter of Renewal and Letter of Proprietorship on 21.03.2017 as well as Supplemental Agreement on 16.06.2017.

4. The defendant also executed Letter of Acknowledgement of Debt confirming outstanding Debt of Rs.68,92,028.17 towards the applicant bank on 21.03.2017.

5. It has been submitted by the applicant bank that after availing the aforesaid 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 accounts as NPA on 01.03.2018 as per RBI guidelines and issued legal notice dated 16.04.2018 but the defendant failed to regularize the account and hence the applicant bank has approached this Tribunal for recovery of their dues.

6. Notices of this O.A. were issued to the defendant and despite of proper service, the defendant has chosen to absent from the proceedings. As per order dated 29.09.2025, the defendant has been proceeded ex-parte as not appeared before the Tribunal and even written statement, evidence and affidavit of assets have not been filed by the defendant.

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7. In order to prove its case, the applicant bank filed various documents such as Power of Attorney of Authorized Representative, Sanction Letter, Cash Credit Agreement, Agreement for Book Debts, Letter of Undertaking, Demand Promissory Note, Letter of Proprietorship, Review Letter, Letter of Renewal, Letter of Proprietorship, Letter of Acknowledgement of Debt, Letter of temporary enhancement of Cash Credit facility, Supplemental Agreements, Legal Notice and Statement of Account marked from page no.25 to 111.

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 approved.

9. The case filed by the applicant bank gone unrebutted and there is no question of disbelieving the case of the applicant 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, within a period of 30 days, a sum of Rs.86,96,658/- (Rupees Eighty Six Lacs Ninety Six Thousand Six Hundred Fifty Eight only) together with pendentelite and future interest @11.75% per annum with monthly rests from 01.12.2018 till the date of realization and costs; failing which the aforesaid amount shall be recovered from the sale of hypothecated assets, stocks etc. In case of shortfall, the same shall be recovered from the sale of movable and immovable properties of the defendant.

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(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 25.05.2026.

(IV) Copies of final order as well as Recovery Certificate be sent to all concerned free of cost.

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**(GOVIND BALLABH SHARMA)** **PRESIDING OFFICER** **DRT-I, DELHI**

(Dictated and pronounced in open court)

Dated: 25.03.2026