STATE BANK OF INDIA vs M/S MAYA STEPS AND ANR on 6 June 2026

FINAL ORDER

This original application has been filed by the applicant bank on 12.02.2019 before 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.11,68,203.83 (Rupees Eleven sd

Lacs Sixty Eight Thousand Two Hundred Three & paisa Eighty Three only) as on 31.12.2018 along with pendentelite and future interest @12.65% per annum with monthly rests from the date of the application till its realization and costs.

2. The brief facts of the case are that at the request of defendant no.1 through defendant no.2 as proprietor vide their loan application dated 10.12.2015 with relevant documents, the applicant bank sanctioned Cash Credit facility for Rs.10,00,000/- (Rupees Ten Lacs only) on 17.12.2015 under Pradhan Mantri Mudra Yojana for working capital @10.95% interest per annum against hypothecation of stocks and book debts.

3. That in order to avail the loan facility, the defendants submitted SBI PMMY loan application with Self-attested KYC documents & Affidavit etc. dated 10.12.2015 and executed Agreement of Loan cum Hypothecation for Cash Credit facility, Declaration, Undertaking, Certificate, Annexure-B, and Consent Clause in favour of the applicant bank on 17.12.2015.

4. That in order to secure the loan facility, the defendants hypothecated the stock of foot wears etc. in favour of applicant bank.

5. The defendant no.1 thru defendant no.2 admitted their liability towards applicant bank on 29.02.2016 and also deposited some petty amount on 14.11.2017 in the account.

6. It has been submitted by the applicant bank that after availing both the loan facilities, the defendants failed to adhere to the terms and conditions of sanction despite numerous requests of applicant bank by way of personal visits and letters. sd-

Ultimately, the account became highly irregular due to overdrawing and the applicant bank classified the account as Non-Performing Asset on 28.12.2017 due to irregularities. The applicant bank issued legal notice on 20.10.2018 to clear the outstanding amount but defendants failed to comply the notice, hence, the applicant bank has approached this Tribunal for recovery of their dues.

7. Notices of this O.A. were issued to the defendants and despite proper service, the defendants chose to absent from the proceedings and none appeared on behalf of defendants. As per order dated 10.02.2026, defendants have been proceeded ex-parte, due to non-filing of written statement, evidence and affidavit of assets before this Tribunal.

8. In order to prove its case, the applicant bank has filed its evidence by way of affidavit of Shri Ajay Kumar Agrawal, authorized representative of the applicant bank who has proved the documents such as Gazette Notification dated 02.02.1987, Application Form with details of immovable properties on Affidavit, Sanction Letter, Loan cum Hypothecation for Cash Credit facility, Declaration, Undertaking, Certificate, Annexure-B, Consent Clause, KYC documents, Demand Notices, Certified Statement of Account under Bankers' Book Evidence Act, Books of Account duly certified under Bankers' Book Evidence Act marked as Ex.AW- 1/1 to Ex.AW-1/12.

9. 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. cd

10. 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.

11. In the light of the above discussions and documents on record, the Original Application deserves to be allowed.

ORDER

I, al:ow this OA and direct the defendants to pay to the applicant bank within 30 days, jointly or severally, a sum of Rs.11,68,203.83 (Rupees Eleven Lacs Sixty Eight Thousand Two Hundred Three, & paisa Eighty Three only) as on 31.12.2018 along with pendentelite and future interest ©12.65% per annum with monthly rest from the date of filing of this application till the date of realization with costs, failing which the aforesaid amount shall be recovered from sale of hypothecated stocks etc. In case of default the same shall be recovered from the sale of movable and immovable 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 05.08.2026. (IV) Copies of final order as well as Recovery Certificate be sent to all concerned free of cost. V2-13 (GOVIND BALLABH SHARMA) PRESIDING OFFICER DRT-I, DELHI (Dictated and pronounced in open court) Dated: 06.06.2026