PUNJAB NATIONAL BANK vs M/S KARAM APPARELS PVT.LTD on 18 September 2026

FINAL ORDER

This original application has been filed by the applicant bank, on 10'12.2019 through Shri' B'N Shukla' AGM of the applicant bank, under Section 19 of the RDB Act, 1993 against the defendants for recovery of a sum of Rs.1,70,12,982.24 including interest up to 06'12'2019 along with pendent elite and future interest at contractual rate per annum monthly rest with a future penal interest @2olo from date of flling of this O'A' till the realization in full.

2. The brief facts of the case are that at the request of defendants, the applicant bank sanctioned a Cash E} Sh. Ved Prakash Bhatt, Counsel appears for applicant bank. Deiendants are exparte, since, 16'09'2025'

TANO.988of2022 2 Credit (Hypothecation) of Rs.t65'00 Lakhs, vide sanction letter dated 16'12.2015' Th defendant nos'1 through defendant no.2 executed all necessary loaning documents on 30.12.2015. The defendant nos'2,4,5 & 6 in order to secure the liability undertaken by defendant no.1 in respect of the above facility, executed agreement of guarantee dated 30.12.2015. It is submitted that a collateral for due repayment of the loan, defendant nos.2,4,5 created equitable mortgage by deposit of original title deed of immovable properties i'e', (1)' Flat No.8C Second Floor, UG Flats. Udvog Vihar Block Bt' Sector 82. Noida. UP. Area- 590.62 Sq' Ft' in the name of defendant no.2 (2). Flat No. 240' Second Floor, pocket Cassia Estate. Sector-Pl-01' Greater Noida' Area- 430'56 Sq. Ft. in the name of defendant no'2 (3)' Flat No' 73A' Ground Floor. UG Flats. Udvog Vihar, Block E4' Sector-

82. Noida. Area 590.62 sq' Ft. in the name of defendant no.2 (4). Flat No' 289 B. First Floor' Janta Flats' Block 73' Sector-73. Noida. Area-336.68 Sq, Ft' in the name of defendant no.4. (5). Flat No. 406 (Old no' 70' 3rd Floor' Shanti Vihar Appartment. Module No' 1' Abhav Khand III' Indirapuram. Ghaziabad. Area-968'76 Sq' Ft' in the name of defendant no.5. Again, at the request of defendant no.1, the applicant bank restructured a Term Loan Facility of Rs.8.00 Lakhs, vide sanction letter dated 30'03'2019' The defendants executed all necessary loaning documents on 30.03.2019.

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 accountlXvisits and letters' but there 9r\'

TANO. 988 of 2022

was no response from the defendants. Hence, the account was classified as NPA dated 20'07'2019' The applicant bank served a demand notice dated 14'08'2019 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 put appearance through counsel but failed to file written statement. Thereafter, the defendant no'1 failed to put appearance in the matter. Accordingly, the defendant no.1 was proceeded against expafte on 16'09'2025' The defendant nos.2 to 6 failed to put appearance at all' despite publication. Accordingly, the defendant nos'2 to 6 were proceeded against expafte on 16'09'2025'

5. The applicant bank has filed evidence by way of affidavit of Sh. Baij Nath Shukla, Assistant General Manager of the applicant bank as Annexure A-1 to Annexure A-38, 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 documents. based uPon the written/Printed 9\

TANO. 988 of 2022

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.1,70,12,g82.24 along with cost, expenses and interest @12.10o/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 sale of the mortgaged properties i'e', (1). Flat No'8C Second Floor' LIG Flats. Udvog Vihar Block D4' Sector 82' Noida' UP' Area- 590.62 Sq' Ft. (2). Flat No' 240' Second Floor' pocket-A Cassia Estate. Sector-Pl-01' Greater Noida' Area- 430.56 Sq. Ft. (3). Flat No' 73A' Ground Floor' LIG Flats. Udvog Vihar, Block E4' Sector-82' Noida' Area 590.62 sq. Ft. (4). Flat No' 289 B' First Floor' Janta Flats' Block 73. Sector-73. Noida. Area-336'68 Sq, Ft' (5)' Flat No. 406 (Old no. 70' 3rd Floor' Shanti Vihar Appartment' Module No. 1. Abhav Khand III' Indirapuram' Ghaziabad' Area-968.76 Sq. Ft. 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' pl

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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 18'11'2026' Pending IAs, if any, stand disPosed of' File be consigned to records' t g)' t'' (susHIL ruunn d&ibct) PRESIDING OFFICER DRT-II, Delhi This judgement has been signed, dated and pronounced in oPen coutt' Date : 18.09'2026 Sd\. (su SHIL KU-MAR RAsroGi) PRESIDING OFFICER DRT-II, Delhi Date : 18.09.2026 I