PUNJAB NATIONAL BANK vs M/S SHARMA STORE on 6 August 2026

FINAL ORDER

This original application has been filed by the applicant bank, on 22.02.2022 through Sh' Edmund Pradeep Aind, Manager of the applicant bank, under Section 19 of the RDB Act, 1993 against the defendants for recovery of a sum of Rs.5,87,32,576'46 together with cost, charges and pendentellite and future interest @10.55o/o p.a. from date of fiting of this O'A' titl the realization in full.

2. The brief facts of the case are that at the request of defendants, the applicant bank sanctioned a Moftgage Loan facility of Rs.450 Lakhs, vide sanction letter dated 25.11.2019 for their business needs against the primary security of Commercial Property consisting of Ground' First, Second and Third Floors constructed on Plot of land s; TANO. 1267 of 2022

Total measuring 425 Sq. yards i.€., equivalent to 355.35 Sq. Meters bearing Plot No.3, Khasra No.43012, Old Lal Dora Abadi Deh Village New Roshanpura, Opposite BDO Office, Nazafgarh, New Delhi-110043 and Working Capital Term Loan (WfiL) Facility of Rs.89.90 Lakhs under the Guaranteed Emergency Credit Line (GECL) against the extension of charge on entire present, vide sanction letter dated 26.06.2020. The all the terms and conditions of the aforesaid sanction letters dated 25.11.2019 and 26.06.2020 respectively were duly accepted by the defendant no.1 and its paftners i.e., defendant nos.2 to 4 in writing. The aforesaid credit facilities were secured by way continuing personal guarantees/ hypothecation/ mortgage/ extension of charge over the aforesaid movable and immovable property. The defendants executed all necessary loaning documents on 25.11.2019. The defendant nos.5 & 6 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 02.05.2021. The applicant bank serued a demand notice dated 2L.05.2021 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 nos.3 & 6 put appearance through counsel but failed to file written e TANO. 1267 of2022

statement. Thereafter, the defendant nos.3 & 6 failed to put appearance in the matter. The defendant nos.1 to 4 failed to put appearance at all, despite service. Accordingly, the defendants were proceeded against exparte on 03.06.2025.

5. The applicant bank has filed evidence by way of affidavit of Sh. Edmund Pradeep Aind, Manager of the applicant bank as Annexure - A1 to Annexure -A18, 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 evidence and documents filed by the applicant bank not rebutted by the defendants by not placing any evidence and there is no question of disbelieving the evidence and 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.1 to 6 to pay jointly and severally to the applicant bank within 30 days from today, a sum of Rs.5,87,32,576.46 along with cost, expenses and interest @9.70o/o 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 $..

TA NO. 1267 of 2022

from the sale of mortgaged property i.e., Commercial Propefi consisting of Ground, First, Second and Third Floors constructed on Plot of land Total measuring 425 Sq. yards i.e., equivalent to 355.35 Sq. Meters bearing Plot No.3, Khasra No.430/2, Old Lal Dora Abadi Deh Village New Roshanpura, Opposite BDO Office, Nazafgarh, New Delhi-110043. In case of short fall, the same shall be recovered from the sale of personal movable and immovable assets of the defendant nos.1 to

6.

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) Parties are directed to appear before the Ld. Recovery fficer, DRT-II, Delhi on 06.10.2025. Pending lAs, if any, stand disposed of. File be consigned to records. S,\ Date : 06.08.2026 erF''; I (susHrL KUMAR RASTOGT) PRESIDING OFFICER DRT-II, Delhi This judgement has been signed, dated and pronounced in open court. -^.- \ <t^ \ (susHrl KUMAR HASTOGT) PRESIDING OFFICER DRT-II, Delhi Date : 06.08.2026