THE KARNATAKA BANK LIMITED vs NECTOR on 30 July 2026

FINAL ORDER

This original application has been filed by the applicant bank, on 28.08'2018 through Sh' Krishna Thakur,AuthorizedOfficeroftheapplicantbank'under Section 19 of the RDB Act, 1993 against the defendants for recovery of a sum of Rs'!,97,42,933'64 together with cost, charges and pendentellite and future interest @16.250lo p.a' from date of filing of this O'A' till the realization in full. EI Shri. Rishabh Jain, proxy Counsel for Shri iumeet Batra, Counsel appears for applicant TANO. Sl2of 2024

2. The brief facts of the case are that at the request of defendants, the applicant bank sanctioned a Credit Facility under KBL Vyaapar Mitra with existing Over Draft Limit of Rs.1,00,00,000/-, vide sanction letter dated 09.07.2013. The defendants secure the aforesaid credit facility by created the securities i.e., (a). Hypothecation the stock in trade i.e. all items stored, stacked, installed, parked in the House No.182, school wali gali, near community centre, MCD Banquet Hall, Azadpur, New Delhi-l10033. (b). Book debts through General Power of Attorney dated 16.07.2013. (c). Residential Property with built up area of 73 sq. yds., situated in the House No'182, School wali gali, Azadpur, New Delhi-110033 in the name of defendant no.2. The defendants executed all necessry loaning documents on t6.07.20t3. The defendant nos.2 & 3 stood as guarantors.

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. Hence, the account was classifled as NPA dated 29.10.2014. The applicant bank serued a demand notice dated 02.01.2015 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, defendants failed to put appearance at all, despite publication. Accordingly, the defendants were proceeded against exparte on

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5. The applicant bank has filed documents along with O.A. as Annexure A-1 to Annexure A-10, which have gone 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 documents filed 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. deserues to be allowed.

ORDER

1) I hereby allow this T.A. of the applicant bank and direct the defendant nos.1 to 3 to pay jointly and severally to the applicant bank within 30 days from today, a sum of Rs.1,97,42,933.64 along with cost, expenses and interest @13.25olo 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 and the sale of mortgaged property i.e., Residential Propefi having built J <A

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up area of 73 sq. yds., situated in the House No.182, Schoolwaligali, Azadpur, New Delhi-110033. In case of shoft fall, the same shall be recovered from the sale of personal movable and immovable assets of the defendant nos.l to 3.

3) Recovery 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) Pafties are directed to appear before the Ld' Recovery Officer, DRT-II, Delhi on 30.09.2026' Pending IAs, if any, stand disPosed of. File be consigned to records. Date : 30.07.2026 ,SA (SUSHIL KUMAR RASTOGI) PRESIDING OFFICER DRT-II, Delhi This judgement has been signed, dated and pronounced in oPen coutt. Date : 30.07.2026 .sAi (SUSHIL KUMAR RASTOGI) PRESIDING OFFICER DRT-II, Delhi