Debts Recovery Tribunals and Appellate Tribunals
CENTRAL BANK OF INDIA vs SRK ENTERPRISES on 10 April 2026
**Debts Recovery Tribunal-I, Delhi
4<sup>th</sup> floor, Jeevan Tara Building, Parliament Street, New Delhi**
**Presiding Officer: Shri Govind Ballabh Sharma**
**T.A. No.1528 of 2022**
**Central Bank of India**
1367, Sultan Singh Building
Main Road Bara Bazar
Kashmere Gate, Delhi-110006
Applicant
**Versus**
1. M/s SRK Enterprises
Through its Proprietress –
Smt.Savita Sharma w/o Sh.Bhaskar Sharma
D/o Sh.Bhagwan Dass Sharma
R/o WZ-2012, 3<sup>rd</sup> Floor, Shakur Basti Rani Bagh, Delhi-110034
2. Smt.Savita Sharma w/o Sh.Bhaskar Sharma D/o Sh.Bhagwan Dass Sharma R/o WZ-2012, 3<sup>rd</sup> Floor, Shakur Basti Rani Bagh, Delhi-110034
Defendants
Present: Sh.Suman Kumar, Counsel for the applicant bank Date of Reserve: 25.03.2026
Date of Pronouncement: 10.04.2026
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**FINAL ORDER**
This original application has been filed by the applicant bank on 01.01.2022 before DRT-III Delhi and then transferred to 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.40,72,921/- (Rupees Forty Lacs Seventy Two Thousand Nine Hundred Twenty One only) as on Sd- 21.12.2020 along with interest @9.55% from the date of filing of this application till the date of its realization with costs.
2. The brief facts of the case are that on the request of the defendant no.1 through its proprietress being defendant no.2 in the business of manufacturing of TEE Bar, gypsum false ceiling etc., the applicant bank sanctioned Cash Credit facility of Rs.2,00,000/- (Rupees Two lacs only) as Working capital and Term Loan of Rs.38,00,000/- (Rupees Thirty Eights lacs only) @9.55% interest per month on 17.09.2018 under Stand Up India scheme for business purpose against hypothecation of stock.
3. In order to avail both the credit facilities, the defendant no.1 through its proprietress submitted loan application and executed Loan Agreement, Supplementary Loan Agreement, Demand Promissory Note, Letter of Interest Variation, Hypothecation Agreement etc. on dated 03.09.2018 in favour of applicant bank.
4. That in order to secure the credit facilities, the defendant no.1 through defendant no.2 hypothecated the stocks and machinery in favour of applicant bank.
5. It has been submitted by the applicant bank that after availing the loan facilities, the defendants failed to comply with the terms and conditions of sanction and failed to maintain financial discipline as per sanction terms due to which account became irregular. Ultimately, the applicant bank classified the account as NPA on 30.09.2020 as per RBI guidelines and issued demand notices on 05.05.2021 and 20.10.2021 and legal Sd/- demand notice on 21.12.2021 but defendants did not pay any heed and not repaid the dues, hence the applicant bank has approached this Tribunal for recovery of their dues.
6. 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 05.05.2025, the defendants have been proceeded ex-parte as they have not appeared before the Tribunal and even written statement, evidence and affidavit of assets have not been filed by the defendant.
7. In order to prove its case, the applicant bank has filed its evidence by way of affidavit of Ms Annu Priya, authorized representative of the applicant bank who has proved the documents such as Power of Attorney, Loan Application Form, Sanction Letter, Loan Agreement, Supplemental Agreement, Demand Promissory Note, Letter of Interest Variation, Hypothecation Agreement, Demand Notice, Loan Recall Notice, Postal Receipts, Legal Notice, Postal Receipts, Certified Statement of Accounts marked as Ex.AW1/1 to Ex.AW1/13 (Colly).
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 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 defendants to pay to the applicant bank, jointly or severally, within a period of 30 days, a sum of Rs.40,72,921/- (Rupees Forty Lacs Seventy Two Thousand Nine Hundred Twenty One only) as on 21.12.2020 @9.55% pendentelite and future interest from 21.12.2020 till the date of realization and costs; failing which the aforesaid amount shall be recovered from the sale of hypothecated stock & machinery etc. In case of shortfall, the same shall be recovered from the sale of movable and immovable properties 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 09.06.2026.
(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: 10.04.2026