Ms Bajaj Agro Industries vs THE NAINITAL BANK LIMITED on 9 June 2026

**Order**

A One Time Settlement has taken place between the parties for an amount of Rs.4,75,00,000/- (Rupees Four Crore Seventy Five Lacs only) as per One Time Settlement dated 16.04.2024 and an amount of Rs.2,75,14,000/- (Rupees Two Crore Seventy Five Lacs Fourteen Thousand only) has been deposited by the Applicant till 31.12.2024.

The Simple interest @8% as per sanctioned One Time Settlement terms and condition from 16.07.2024 till dated 28.04.2026 amount has been shown by the Respondent Bank Rs.28,53,494.03ps (Rupees Twenty Eight Lacs Fifty Three Thousand Four Hundred Ninety Four and three paisa only) and also stated that amount of Rs.1,07,71,000/- (Rupees One Crore Seven Lacs Seventy One Thousand only) has been recovered in January, 2026 to March, 2026 after sale of two properties those were secured assets and also mentioned legal expenses incurred Rs.3,78,077/- (Rupees Three Lacs Seventy Eight Thousand and Seventy Seven only). The outstanding has been shown Rs.1,24,46,571.03ps (Rupees One Crore Twenty Four Lacs Forty Six Thousand Five Hundred Seventy One and Three Paisa only) after adjustment of amount paid by the Applicant and recovery through Recovery Certificate including interest and expenses till 28.04.2026.

The Applicant has also provided a demand draft of Rs.25.00Lacs (Rupees Twenty Five Lacs only) to the respondent bank. On the other hand, the Applicant has submitted that an amount of Rs.67,15,000/- is rest after demand draft of Rs.25.00Lacs.

The applicant has not mentioned in calculation the amount of interest Rs.28,53,494.03ps as per terms and conditions of the OTS submitted by the respondent bank and legal expenses Rs.3,78,077/- **ORDER-SHEET** Page No. ....

**DEBTS RECOVERY TRIBUNAL, DEHRADUN**

**M.A. No. 37 of 2025**

**Mr. Sunny Bajaj(proprietor M/s Bajaj Agro Industries) Vs The Nainital Bank Ltd.**

The amount of respondent bank is of Rs.99,46,571.03ps after adjustment of demand draft of Rs.25.00Lacs provided by the Applicant. On the other hand, the Applicant has stated only Rs.42,15,000/- and prayed for repayment in three equal installments.

The calculation submitted by the respondent bank is clear about interest and expenses by stating that the amount deposited by the applicant after 16.07.2024 shall be the part of deposition after a period which was provided to applicants as per settlement between the parties and applicants are liable to pay interest in relation to delay period as per terms and conditions of settlement.

In the light of above, the applicant shall be liable to pay Rs.99,46,571.03ps(Rupees Ninety Nine Lacs Forty Six Thousand Five Hundred Seventy One and Three paisa only) in the following manner:

1. 1. The Applicant shall repay Rs.33,46,571.03ps(Rupees Thirty Three Lacs Forty Six Thousand Five Hundred Seventy One and Three paisa only) within a period of 15 days from the date of this order i.e. on or before 25.06.2026;

2. 2. Second Instalment of Rs.33,00,000/- (Rupees Thirty Three Lacs only) on or before 27.07.2026;

3. 3. Third Instalment of Rs.33,00,000/- (Rupees Thirty Three Lacs only) on or before 27.08.2026; The Respondent bank shall be entitled for interest, if any, in relation to the amount in question as per terms & conditions of OTS. The applicant shall repay the said amount within a period of 15 days from the date of providing details of interest by the respondent bank.

In the light of above observations, the petition is disposed off. No order as to cost.

Interim order, if any vacated. All Interim Applications are disposed off in the light of above.

Record be consigned.

(Umesh Kumar Sharma) Presiding Officer DRT, Dehradun

07.06.2026