SYNDICATE BANK vs Sh. Deepak Kumar on 28 July 2026

FINAL ORDER

This original application has been filed by the applicant bank, on 16'03.2016 through Mr. Rajeev Jagota, Senior Branch Manager and Principal Officer of the applicant bank, under Section 19 of the RDB Act, 1993 against the defendants for recovery of a sum of Rs.12,75,875.38 together with cost, charges and pendentellite and future interest @18.05o/o p'a' from date of filing of this O.A' till the realization in full'

2. The brief facts of the case are that the defendant no.1 who is the proprietor of M/s Shri. Sai Book & Stationery, has been banking with the applicant bank since 2010 when they were sanctioned SOD Limit of Rs.6,00,000 against hypothecation of stocks of books and Mr. Sanjeev Chopra, Counsel appears for applicant bank. Defendant no.1 is exparte, since, 05'10.2016. Defendant no.2 is exparte, since, 04.07.2025. €.\

TANO. 1626of2022 2 stationery items and deposit of VCC of Rs.2.00 Lacs as collateral seurity and execution of loan documents. While the liabilities under the above said limit were still subsisting the request to enhance the limit was considered and the applicant bank on 09.04.2013 enhanced the limit from Rs.6,00,000 to Rs.9,00,000 against execution of loan documents, guarantee of defendant no.2, hypothecation of stocks of books and stationary execution of loan documents. The defendans executed all necessary loaning documents on 09.04.2013

3. It is further submitted that the defendants enjoyed and utilized the Loan facilities, but failed to maintain the financial discipline and failed to repay the due amounts. The applicant bank requested the defendants to regularize the loan account by visits and letters, but there was no response from the defendants. The applicant bank served a legal notice dated 13.02'2016 to the defendants but failed to recover the same Thus, the present O.A.ff.A. is preferred by the applicant bank to recover its dues.

4. On notice by this Tribunal, defendant no.1 failed to put appearance at all, despite service' Accordingly, the defendant no.l was proceeded against exparte on 05.10.2016. The defendant no.2 failed to put appearance at all, despite issuance of default notice. Accordingly, the defendant no.2 was proceeded against exparte on 04.07.2025.

5. The applicant bank has filed documents along with O.A. as Paper No.1 to Papq No'64, which have gone qI .

TANO. 1626 of 2022 3 unchallenged and un- rebutted. Hence, the case of the applicant stands fully established against the defendants with respect to nonpayment of outstanding amount.

6. After perusing the records, this Tribunal is of the view that the applicant bank has proved its case beyond reasonable doubts. The documenb fited by the applicant bank not rebutted by the defendants by not placing any evidence and there is no question of disbelieving the documents filed by the applicant bank based upon the written/printed documents. In the light of the above discussions, the present T'A' deserves to be allowed.

ORDER

1) I hereby allow this T.A. of the applicant bank and direct the defendant nos.l and 2 to pay jointly and severally to the applicant bank within 30 days from today' a sum of Rs.12,75,875.38 along with cost, expenses and interest @10.25olo from the date of filing of this O'A' which has become T'A till the date of realization'

2) In case of failure to deposit the above amount within the stipulated period, the same shall be recovered from the sale of hypothecated assets' In case of shortfall' the same shall be recovered from the sale of personal movable and immovable assets of the defendant nos'l and 2. sI

TANO. 1626of2022 4

3) Remvery Certificate be issued forthwith and be sent to Recovery Officer, Debts Recovery Tribunal-Il, Delhi.

4) The registry of this Tribunal is hereby directed to issue free copy of the order and send the same to both the parties.

5) Parties are directed to appear before the Ld' Recovery Officer, DRT-II, Delhi on 28.09.2026' Pending lAs, if any, stand disPosed of. Fite be consigned to records. EA Date : 28.07.2025 (susHIL KUMAR RASTOGI) PRESIDING OFFICER DRT-II, Delhi This judgement has been signed, dated and pronounced in oPen court. .--.--.--._-.'.,.., SA (susHIL KUMAR RASToGI) PRESIDING OFFICER DRT-II, Delhi Date i 28.07.2026