PUNJAB AND SIND BANK vs M/S. B.S. TRADERS & ORS. on 29 October 2026

FINAL ORDER

This original application has been filed by the applicant bank, on 05.12'2019 through Ms' Harvinder Kaur, Senior Manager of the applicant bank' under Section 19 of the RDB Act, 1993 against the defendants for recovery of a sum of Rs'62,29,590'22 together with cost, charges and pendentellite and future interest @11.80% from date of flling of this O'A' tillthe realization in full.

2. The brief facts of the case are that at the request of defendant no.2 for and on behalf of the defendant no.l, the applicant bank sanctioned a Cash Credit (Hypothecation) Limit Facility of Rs'50'00'000/-' vide r da'ted 29.04.2017. The defendant no'3

- Defendants sanction lette 90

TANO. 122of2022 2 stood as personal guarantor. The above- mentioned credit facility was secured by the hypothecation of stock of readymade garments, sari, dress material, suits, stitching machine and material current assets, present and future, bills receivable and hypothecation of book debts. The defendants executed all necessary loaning documents on 29.04.2017 and 20.09.2019.

3. It is fufther 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 31.03.2019. The applicant bank serued a legal 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 failed to put appearance at all, despite publication. Accordingly, the defendants were proceeded against exparte on 11.06.2025.

5. The applicant bank has filed evidence by way of affidavit of Ms. Harvinder Kaur, Senior Manager of the applicant bank as Annexure A-1 to Annexure A-23, 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. iso

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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 flled 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 to 3 to pay jointly and severally to the applicant bank within 30 days from today, a sum of Rs.62,29,590.22 along with cost, expenses and interest @11.75% 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 to

3.

3) Recovery Certificate 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 andse J .99 the parties. the same to both

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5) Parties are directed to appear before the Ld. Recovery Officer, DRT-II, Delhi on Zg.t2..2OZ6. pending IAs, if any, stand disposed of. Fib be consigned to records. (s0 )rt ,ola Date : 29.10.2026 (SUSHIL KUMAR RASTOGT) ESIDING OFFICER DRT.II, De|hi This judgement has been signed, dated and pronounced in open court. PR Date : 29.10.2026 '-g (SUSHIL KUMAR ),.-? iatr';'^ RASTOGT) PRESIDING OFFICER DRT-II, Delhi