PUNJAB NATIONAL BANK (ORIENTAL BANK OF COMMERCE) vs M/S. MURTHY ELECTRONICS AND ORS. on 16 October 2026

FINAL ORDER

This original application has been filed by the applicant bank, on t2.L0.2020 through Sh. Raj Kumar Malik, Asst. General Manager of the applicant bank, under Section 19 of the RDB Act, 1993 against the defendants for recovery of a sum of Rs.25,28,888.66 together with cost, charges and pendentellite and future interest @11.80o/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.1, the applicant bank sanctioned a Cash Credit Facility against property amount of Rs.6,00,000/-, vide sanction letter dated 24.08.2007. The defendants executed all necessary loaning documents on 30.08.2007. The above said crgQit facility was secured by e"\', TANO.632of2022 2 hypothecation of entire stocks, more specifically mentioned in security documents and further secured by equitable mortgage created by the defendant no.2 in respect of the property i.e., Property No.117-A, Lower Ground Floor,'Arjun Nagar, Near Safdarjung Enclave, New Delhi-110029, built upon area measuring 100 sq. ft owned by her. Again, at the request of defendants, the applicant bank enhanced/renewed a Cash Credit Facility time to time and lastly was enhanced/renewed a Cash Credit Facility of Rs.13,00,000/-, vide sanction letter dated 20.09.2012. The defendants executed all necessary loaning documents on 28.09.2012 and 07.0L.20L4.

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 classified as NPA dated 31.03.2015. The applicant bank serued a demand notice dated 07.04.20L5 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 publication. Accordingly, the defendants were proceeded against exparte on t3.06.2024.

5. The applicant bank has filed evidence by way of affidavit of Sh. Raj Kumar Malik, Assist, General Manager q^x TANO.632of2022 3 of the applicant bank as Annexure A-1 to Annexure A-36, 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' deserues to be allowed.

ORDER

1) I hereby allow this T.A. of the applicant bank and direct the defendant nos.1 and 2 to pay jointly and severally to the applicant bank within 30 days from today, a sum of Rs.25,28,888.66 along with cost, expenses and interest @11.80o/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 bearing No.117-A, Lower Ground fdarjun Floor, Arjun Nagar, Near Sa €.\ Enclave, New Delhi-

TANO.632of2022 4 110029, built upon area measuring 100 sq. ft. In case of shoft fall, the same shall be recovered from the sale of personal movable and immovable assets of the defendant nos.1 and 2.

3) Recovery Ceftificate 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 I6.t2.2026. Pending IAs, if any, stand disposed of. File be consigned to records.', -.----n !_ CJ ,n (susHr L -ru unn RISi ui-GI) PRESIDING OFFICER DRT-II, Delhi This judgement has been signed, dated and pronounced in open coutt. Date : 16.10.2026 Date : 16.10.2026 -------,.- s.l (susHrL Ku r,lRR RASToGI) PRESIDING OFFICER DRT-II, Delhi