PUNJAB AND SIND BANK vs M/S. SHWETA TOUR AND TRAVELS & OTRS. on 19 October 2026

FINAL ORDER

This original application has been filed by the applicant ban( on 22.10.2019 through Smt. Harvinder Kaur Mokha, Senior Manager of the applicant bank, under Section 19 of the RDB Act, 1993 against the defendants for recovery of a sum of Rs.50,33,893.65 together with cost, charges and pendentellite and future interest @13.85% from date of filing of this O.A' tillthe 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 of Rs.40,00,000 on 22.03.2017. The defendant no.2 stood as guarantor. The aforesaid facility was secured by the hypothecation of goods i.e., moto parts, bills receivable current and fixed assets lying at 9).

- Defendants

TANO. 420 of 2023

RZF-LZD, First Floor, Khasra No.84l4lL, Gali No.4 Mahavir Enclave, Delhi-110045 and hypothecated of book debts. The defendants executed all necessary loaning documents on 22.03.2017 .

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 30.09.2018. The applicant bank served a demand notice dated 25.05.2019 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, defendants put appearance through counsel but failed to file written statement and the right to file written statement of defendants were closed vide order datd L2'02'2025' Thereafter, the defendants failed to put appearance in the matter, despite issuance of default notice' Accordingly, the defendants were proceeded against exparte on 11.08.2025.

5. The applicant bank has filed evidence by way of affidavit of Smt. Harvinder Kaur Mokha, Senior Manager of the applicant bank as Annexure A-1 to Annexure A-24, 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. C,fl TANO. 420 of 2023

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.50,33,893.65 along with cost, expenses and interest @11.95olo 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' 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. .---:.-. tl... .\

TANO.420of2023 4

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 2L.L2.2026. Pending IAs, if any, stand disPosed of. File be consigned to records. c-\ Date : 19.10.2026 (susHrl r6uan offOtil PRESIDING OFFICER DRT-II, Delhi This judgement has been signed, dated and pronounced in oPen court. Date : 19.10.2026 S.l ,* (susH r L ruM-en nlqsi'dbr) PRESIDING OFFICER DRT-II, Delhi