PUNJAB NATIONAL BANK vs M/S USHA ENTERPRISES AND OTHERS on 30 December 2022

**ORDER-SHEET** Page No. ....

**DEBTS RECOVERY TRIBUNAL, DEHRADUN**

**Appeal. No. 02 of 2020**

(Old Appeal No. 04/2014 of DRT, Lucknow)

**Punjab National Bank Vs M/s Usha & Ors.**

**Date: 30.12.2022**

Serial No. 27

Present: Sh. N. Chaturvedi, Counsel for Appellant Bank None for the Respondents/CDs Called out, Ld. Counsel for the Appellant Bank present none present for the Respondents/CDs.

Heard.

The Appellant Bank has approached this Tribunal for setting aside the order dated 30.09.2013 passed by Ld. Recovery Officer in DRC No.395 of 2002 Punjab National Bank Vs M/s Usha Enterprises & Anr. The petition has been filed by the Applicant Bank on 24.03.2014 Ld. Recovery Officer has dismissed the Recovery certificate due to non-compliance of the order to supply the details of the movable and immovable properties of the Respondents for recovery of the dues but in spite of best efforts the appellant Bank could not find out the details of the movable and immovable properties of the Respondent/CD. The certified copy of which has been supplied to the appellant on 22.10.2013.

In this matter public money is involved and the Appellant Bank is still making sincere efforts to find out the details of movable and immovable assets of the Respondent/CD to enable them to recovery of their dues.

If order in question is not set aside the appellant Bank will put to great financial loss and injury.

None present on behalf of the Respondent/CD after due service even though substituted service has taken place.

After considering whole of the situation, in the opinion of the Tribunal, prayer is allowable as per circumstances of the case.

Hence, recovery certificate is restored to its original number i.e. DRC No.395 of 2002.

Matter be sent to Ld. Recovery Officer Concerned with this order. Ld. Recovery officer is directed to take further steps in this matter as per requirement.

Hence, appeal is disposed off accordingly.

Record be consigned.

(Umesh Kumar Sharma) Presiding Officer DRT, Dehradun

30.12.2022