PUNJAB AND SIND BANK vs Kuljeet SIngh on 9 October 2026

**FINAL ORDER**

This original application has been filed by the applicant bank on 27.05.2016 under Section 19 of Recovery of Debts Due to Banks and Financial Institutions Act, 1993 against the defendants for recovery of a sum of Rs.13,83,598/- (Rupees Thirteen Lacs Eighty-Three Thousand Five Hundred Ninety Eight only) as on 30.04.2016 along with pendentelite and future interest @10.25% per annum with monthly rest plus @2% penal interest from 01.05.2016 till the date of realization and costs. Further, the name of Ms Upma Dureja was substituted as authorized representative in place of erstwhile ARs for the applicant bank.

2. The brief facts of the case are that at the request of defendant no.1 vide loan application dated 21.05.2013, the applicant bank sanctioned vehicle loan facility for a sum of Rs.10,00,000/- (Rupees Ten Lacs only) on 28.05.2013 for purchase of Mahindra XUV Vix (Air Bag) @10.75% interest per annum to be repayable in 84 Equated Monthly Installments of Rs.16,991/- from M/s M/s Indraprastha Automobiles. The defendant no.2 and 3 stood as guarantors for vehicle loan facility sanctioned by applicant bank in favour of defendant no.1. In case of default in repayment of instalments, the sd-

defendants agreed to pay @2% penal interest on defaulted amount.

2. That in order to avail the vehicle loan facility, the defendant no.1 submitted loan application dated 21.05.2013 with Proforma Invoice and executed Sanction Letter, Form No.14(R), Form No.103/291/412, Form no.200, Form No.106, Form No.216, Form No.199, FormnNo.192(RR), Form No.256(RR) on 28.05.2013 in favour of applicant bank.

3. The defendant no.2 and 3 stood as guarantors and executed Deed of Continuing Guarantee on 28.05.2013 towards the applicant bank.

4. That in order to secure the loan facility, the defendant no.1 hypothecated the vehicle namely Mahindra XUV VIx in favour of the applicant bank.

5. It has been submitted by the applicant bank that after availing the vehicle loan facility, the defendants failed to comply with loan agreement entered despite several requests and defaulted in payment of monthly installments in time to the applicant bank. The applicant bank classified the account as NPA on 07.09.2013 u/s 2(O) of SARFAESI Act as per RBI guidelines but defendants made no efforts for regularization of the account. Hence, the applicant bank has approached this Tribunal for recovery of their dues.

6. Notice under Section 13(2) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act 2002 dated 21.09.2013 was issued upon defendants to liquidate the outstanding.

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7. Upon enquiry made by the officials of applicant bank, it revealed that defendants have played fraud and cheated the applicant bank by falsely representing themselves for auto loan by submitting false and forged purchase invoice as no such authorized dealer of vehicles. The defendants in collusion with each other played fraud and cause wrongful financial loss to the applicant bank which lodged complaint on 08.10.2013 and FIR u/s 420/467/468/471 IPC on 14.12.2013 with P.S.Gautam Budh Nagar, UP against the defendants.

8. Notice of this O.A. were issued to the defendants and despite proper service through publication in newspapers, the defendants have chosen to absent from the proceedings. As per order dated 26.04.2018, the defendants have been proceeded ex-parte as not appeared before the Tribunal and even no written statement, evidence and affidavit of assets have been filed by the defendants.

9. In order to prove its case, the applicant bank has filed its evidence by way of affidavit of Sh.Anubhav Bajaj and Ms.Upma Dureja, authorized representatives of the applicant bank who has proved the documents such as Authority Letter, General Power of Attorney, Proforma Invoice, Bank receipt Voucher, Form No.14(R), Form No.103/291/412, Form no.200, Form no.106, Form no.216, Form No.199, Form No.192(RR), Form No,256(RR), Demand Notice u/s 13(2), Copy of Statement of Account, Copy of Complaint dated 08.10.2013, Copy of FIR dated 14.12.2013 marked as Ex.AW-1/1 to Ex.AW-1/13.

10. The applicant bank has fully corroborated the averments made in the O.A. Even otherwise the whole case of the applicant bank is based on the documents and the same have been duly proved.

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11. The case filed by the applicant bank gone unrebuted and there is no question of disbelieving the case of the applicant bank and the applicant bank has proved its case beyond reasonable doubts.

12. In the light of the above discussions and documents on record, the Original Application deserves to be allowed.

ORDER

I, allow this OA and direct the defendants to pay to the applicant bank within a period of 30 days, jointly or severally, a sum of Rs.13,83,598/- (Rupees Thirteen Lacs Eighty-Three Thousand Five Hundred Ninety Eight only) as on 30.04.2016 along with pendentelite and future interest @12.25% per annum with monthly rests from 01.05.2016 and costs failing which the aforesaid amount shall be recovered from sale of movable and immovable assets of the defendants.

(II) The recovery certificate be issued forthwith and be sent to the Recovery Officer, Debt Recovery Tribunal-I, Delhi.

(III) Parties are directed to appear before the Recovery Officer, DRT I, Delhi on 08.12.2026.

(IV) Copies of final order as well as Recovery Certificate be sent to all concerned free of cost.

**(GOVIND BALLABH SHARMA)** **PRESIDING OFFICER** **DRT-I, DELHI**

(Dictated and pronounced in open court) Dated: 09.10.2026