INDIAN BANK vs M/S ROY DESIGNS on 29 October 2026

FINAL ORDER

This original application has been filed by the applicant bank, on ZO.O7.2O2O through Ms. Sushma Jha, Chief Manager of the applicant bant<, under Section 19 of the RDB Act, 1993 against the defendants for recovery of a sum of Rs.50,72,2L0.40 together with cost, charges and pendentellite and future interest @10.10olo from date of filing of this O.A. till the realization in fult.

2. The brief facts of the case are that at the request of defendant no.1 through its proprietor defendant no.2, the applicant bank sanctioned Cash Credit Facitity of Rs.10 Lacs, vide sanction letter dated 29.09.2009. The defendants executed all necessary loaning documents on 29.09.2009. Again, at the request of defendants 9e , the TANO.2t52of 2022 z applicant bank enhanced and renewed the aforesaid facility time to time and rasuy enhanced and renewed of Rs.40 Lacs, vide sanctioned on Z4.Og.2OtZ. The defendants executed ail necessary loaning documents on 24.09.2012. The account of defendants was renewed by the applicant bank vide sanction letter dated 25.09.2013. The defendants executed General Letter of Hypothecation dated 27.09.20t4 and hypothecated movable goods and assets both present and future present and future book debts, outstanding, money receivable, claims, bills, contracts as defined in schedute to the said hypothecation deed. It is submitted that the account of defendants was further reviewed on 30.03.2015 and 31.03.2016 and 31.10.2016 by the applicant bank. The account of defendants was renewed vide sanction letter dated 02.01.201g and further operation review sanctioned vide letter dated

14. L2.2078.

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 letterg but there was no response from the defendants. Hence, the account was classified as NpA dated 25.10.2019. The applicant bank served a demand recall notice dated 08.11.2019 to the defendants but failed to recover the same Thus, the present O.A.ff.A. is preferred by the applicant bank to reco\€r its dues.

4. On notice by this Tribunal, defendants failed to put appearance at all, despite_pqllga.tion. Accordingly, the 90

TANO 2152of2022 3 defendants were proceeded against exparte on

05. t2.2023.

5. The applicant bank has filed evidence by way of affidavit of Mr. prashant Kumar Mahto, Senior Manager of the applicant bank as paper No.5 to paper No.2L2, which have gone unchallenged and un_rebufted. Hence, the case of the applicant stands fully established against the defendants with outstanding amount. respect to nonpayment of

6. After perusing the recordg this Tribunat is of the view that the applicant bank has proved its case beyond reasonable doubts. The evidence and documents flled 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 documents. based upon the written/printed In the light of the above discussions, the present T.A. deserves 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 joinUy and severally to the applicant bank within 30 days from today, a sum of Rs.50,72,210.40 along with cos! expenses and interest @10.10olo 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 TANO.2l52of2022 4 fall, the same shall be recovered from the sale of personal movable and immovabte assets of the defendant nos.1 and 2.

3) Recovery Certiflcate 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) Pafties are directed to appear before the Ld. Recovery Officer, DRT-II, Delhi on 29.12.2026. pending IAs, if any, stand disposed of. File be consigned to records. Date : 29.10.2026

- sr,ff (susHrl KUMAR RASTOGT) PRESIDING OFFICER DRT-II, Delhi This judgement has been signed, dated and pronounced in open court. SP Ytrlo ,\ Date : 29.10.2026 (SUSHIL KUMAR RASTOGI) PRESIDING OFFICER DRT-II, Delhi _-------\--_1-