PUNJAB NATIONAL BANK (ORIENTAL BANK OF COMMERCE) vs M/S. HAWK ENTERPRISES AND ANR on 24 August 2026

FINAL ORDER

This original application has been filed by the applicant bank, on 24.01.2020 through Shri Rakesh Bhalla, Manager of the applicant bank, under Section 19 ofthe RDB Act, 1993 against the defendants for recovery of a sum of Rs,25,17,153.72 together with cost, charges and pendentellite and future interest @12.50o/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 at the request of defendant no.2 proprietress of defendant no.l, the applicant bank sanctioned a Cash Credit (Hyp) Facility of Rs.20,00,000/- and Term Loan of Rs.5,00,000/-under the Standup India Scheme "SGFSIL" for the purpose of CN

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purchase of Vertical Injection Moulding Machine, Round Platform (Heavy Iron), Mixer/Grinder, Treming Machine, Electrical Fittings, Moulds and machinery and working capital requirement of her aforesaid business against the hypothecation of stoclq footwear, raw material, consumables and receivables and all other current and fixed assets of the firm and Machinery etc., vide sanction letter dated 30.09.2016. The defendants executed all necessary loaning documents on 01.10.2016. The aforesaid cash credit facility was fufther renewed vide sanction lefter dated 31.03.2018.

3. It is further submitted that the defendanS 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 classified as NPA dated 29.06.2019. The applicant bank served a demand notice dated 18.07.2019 to the defendants but failed to recover the same Thus, the present O.A.[I.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 service. Accordingly, the defendants were proceeded against exparte on 19.08.2025. q

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5. The applicant bank has filed evidence by way of affidavit of Shri. Rakesh Bhalla, Manager of the applicant bank as Annexure A-1 to Annexure A-13, 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.l and 2 to pay jointly and severally to the applicant bank within 30 days from today, a sum of Rs.25,17,153.72 along with cost, expenses and interest @11.30olo 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 perig{ the same shall be recovered $.

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from the sale of hypothecated assets. In case of short fall, the same shall be recovered from the sale of personal movable and immovable assets of the defendant nos.1 and 2.

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 Officer, DRT-II, Delhi on 26.t0.2026. pending IAs, if any, stand disposed of. File be consigned to records. Date:24.08.2026 \s^ (susHrl KUMAR nA$rOCr) PRESIDING OFFICER DRT-II, Delhi This judgement has been signed, dated and pronounced in open court. Date : 24.08.2026 gI (SUSHIL KU r"rfR np,sibdrl- PRESIDING OFFICER DRT-II, Delhi