PUNJAB NATIONAL BANK vs BISHAN DEVI CHARITABLE TRUST on 24 August 2026

FINAL ORDER

This original application has been filed by the applicant bank, on 10.09.2018 through Sh. Ashok Kumar Garg, Manager of the applicant bank, under Section 19 of the RDB Act, 1993 against the defendants for recovery of a sum of Rs.3,16,53,774.72 together with cost, charges and pendentellite and future interest @12.50% p.a. from date of filing of this O.A. till the realization in full. E). \

TANO. 1228of2024 2

2. The brief facts of the case are that at the request of defendant no.1, the applicant bank sanctioned a Term Loan Facility of Rs.490.00 Lacs, vide sanction letter dated 29.09.2015 for construction of building of the educational institution. The defendants executed all necessary loa ni ng docu ments on 24.11.20L5. The above- mentioned credit facilities were secured by the defendants i.e., (a). Hypothecation of all movable assets including furniture and fixtures, vehicles, instruments, computers an all- other equipment as well as infrastructural proposed to be financed out of the proposed term loan. (b). The defendant nos.2 to 5 stood as guarantors. (c). The corporate guarantee of defendant no.6, who stood as guarantor. (d). Equitable mortgage of Primary School Plot admeasuring 4070 Sq. Meters, forming part of Khewat No.49, Khatoni No.78, Rect. No.31, Killa No.23l1(4-16), Rect. No.33, Killa No.3(8-0), L3l2(3-4), Khewat No.50, Khatoni No.79, Rect. No.33, Killa No.13/1(4-6), L0l2(4- 0), 11(7-0), l9l2(L-0), Kheat No.465, Khatoni No.629, Rect. No.8, Killa No.11/2(0-9), 19(0-7), 2UL(5-3), 2LlLl2(l-7), Khewat No.3B, Khatoni No.67, Rect. No.33, Killa No.4(8-0), 7(6-8), 14(3-3), Rect. No'31, Killa No.24l1(3-4) ,2412(L-L2), Khewat No.51, Khatoni No.80, Rect No.31 Killa No.21(6-8), Rect No.31, Killa No.22(6- 8), Rect. No.33, Killa No.2(8-0), 9(8-0), Khewat No'51, Khatoni No.80,81, Rect No.33, Killa No.17(0-9), 18/1(5- t2), 78 I 2(2- r), L9 I I (6- t), 1 2 (8- 0), 19 I 3(0 - t2), 22(2-3), 23(5-3), Rect. No.35, Killa No'3(0-4) situated in Residential Complex Piyush Heights within Piyush Heights Complex, Sector-89, with in the revenue estate of Mauza Riwazpur, Tehsil and District Faridabad in the name of defendant no.6. +

TANO. 1228 of 2024

3. It is fufther 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 classified as NPA dated 31.01.2017. The applicant bank serued a demand notice dated 28.05.2018 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 expafte on

04. Lt.2025.

5. The applicant bank has flled documents along with O.A. as Annexure A/1 to Annexure A/23, 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/pri nted docu 1ents.- q.).'r TANO. t228of 2024

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.3,16,53,774.72 along with cost, expenses and interest @12.50o/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 from the sale of hypothecated assets and the sale of mortgaged . property i,€., Primary School Plot admeasuring 4070 Sq. Meters, forming part of Khewat No.49, Khatoni No.78, Rect. No.31, Killa No.23l1(4-16), Rect. No.33, Killa No.3(8-0), L3lZ(3-4), Khewat No.50, Khatoni No.79, Rect. No.33, Killa No.13/1(4-6), l0l2(4- 0), 11(7-0), L9l2(l-0), Kheat No.465, Khatoni No.629, Rect. No.8, Killa No.11/2(0-9), L9(0-7), zLlt(5-3), 2Lltl2(l-7), Khewat No.38, Khatoni No.67, Rect. No.33, Killa No.4(8-0), 7(6-8), 14(3-3), Rect. No.31, Killa No.24l 1(3-4), 24 I 2(L-L2), Khewat No.5 1, Khatoni No.80, Rect No.31 Killa No.21(6-8), Rect No.31, Killa No.22(6-8), Rect. No.33, Killa No.2(8-0), 9(8-0), Khewat No.51, Khatoni No.80,81, Rect No.33, Killa No.17(0-9), 18/1(5- t2), t8 I 2(2- t), 19/ 1 (6- 1 ), 1 2(8-0), t9 I 3(0- t2), 22(2-3), 23(5-3), Rect. No.35, Killa No.3(0-4) situated in Residential Complex Piyush Heights within Piyush Heights Complex, Sector-89, with in the revenue estate of Mauza 1r\, TANO. 1228of2024 5 Riwazpur, Tehsil and District Faridabad. 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 pafties.

5) Parties are directed to appear before the Ld. Recovery Officer, DRT-II, Delhi on 26.L0.2026. Pending IAs, if any, stand disPosed of. File be consigned to records. Date : 24.08.2026 q; (susHrL I(JMAR Rlsl,u6fi PRESIDING OFFICER DRT-II, Delhi This judgement has been signed, dated and pronounced in oPen court. Date : 24.08.2026 gA (susHr L r'uft-nn nA*to'crl PRESIDING OFFICER DRT-II, Delhi