Final Order 10

Order Details: COPY OF JUDGMENT
Pdf Text: IN THE COURT OF SH. AMIT KUMAR: DISTRICT JUDGE
(COMMERCIAL COURT-01)
NORTH DISTRICT: ROHINI COURTS: DELHI
CS (Comm.) No.262/2024
CNR No. DLNT01-006418-2024
PUNJAB NATIONAL BANK,
Having its office Branch
Sector-15, Rohini, Delhi.
…..PLAINTIFF
VS
Sh. Amit Kumar
S/o Rishi Pal
House No. 26 B, Block, Bhalswa Diary
Libaspur, Badli, Delhi-110042
….DEFENDANT
Date of institution of case : 07.05.2024
Date of arguments : 04.09.2025
Date of pronouncement of judgment : 04.09.2025
J U D G M E N T :
1. Present is a suit seeking recovery of Rs.4,12,893.89/-
alongwith pendentelite and future interest @ 18% per annum.
The brief facts necessary for the disposal of the suit are that the
defendant is a borrower who had approached the plaintiff for
grant of financial assistance in form of Term Loan for doing his
business of diary products. The plaintiff bank found the
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defendant to be eligible for term loan of Rs 5 lakh and as per the
terms and conditions, the defendant had executed various
security documents and created various securities in favour of the
plaintiff bank for repayment in 60 EMI. That in consideration of
sanctioning of the above said loan of Rs. 5 lacs under MUDRA
(KISHORE) Yojna, the defendant signed executed and delivered
security documents. That the plaintiff bank sanctioned the term
loan of Rs 5 lacs to the defendant on 23.06.2017 vide sanction
letter. That the defendant availed the Mudra Loan from the
plaintiff bank in his loan account no. 658100JH00000284 subject
to the terms laid down in the term loan agreement. It is claimed
that the defendant failed to adhere to the financial discipline and
the defendant had been constantly defaulting in repayment of the
contractual dues/charges and interest despite repeated reminders,
requests and demands. The account was declared as NPA.
Plaintiff issued a legal notice dated 08.02.2019, 04.06.2019,
24.12.2019, 24.07.2020 and 19.07.2022 upon the defendant
through speed post to make the said outstanding amount, but of
no avail, hence, the present suit. The defendant did not appear
before DLSA, despite notice being sent and DLSA issued a
certificate for non-starter report dated 07.12.2023. Since, the
defendant did not make the said outstanding payment, the
plaintiff bank has filed the present suit for recover of the suit
amount.
2. Summons of the suit were served upon the defendant
on 03.12.2024 and defendant appeared in person on 23.01.2025.
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On 25.03.2025 one counsel Sh. Ram Bhadauria appeared on
behalf of the defendant and thereafter on 21.05.2025 defendant
appeared in person. Matter was settled in mediation but the
defendant did not deposit any money as per settlement. But
thereafter neither anybody appeared nor WS was filed on behalf
of the defendant and on 04.06.2025, the following notional issues
were framed:
(1) Whether the plaintiff is entitled to recovery of the suit
amount ? OPP
(2) Whether the plaintiff is entitled to interest? If yes, at
what rate and for what period? OPP
(3) Relief.
3. Plaintiff to prove its case examined Ms. Sonam
Bansal/Senior Manager as the sole witness. He proved on record
the relevant documents i.e. Ex. PW-1/1 to Ex. PW-1/22.
4. The testimony of PW1 goes unrebutted. I have heard the
submissions. The suit is within limitation and plaintiff has proved
that plaintiff is entitled to recovery of the suit amount. In facts,
the suit is decreed with cost and interest. A decree for a sum of
Rs.4,12,894/ alongwith cost and pendentelite interest @ 9% per
annum is passed in favour of the plaintiff and against the
defendant. The plaintiff shall also be entitled to future interest @
9% per annum from the date of decree till realization.
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5. Copy of the judgment be sent to all the parties by
electronic mode, if available or otherwise.
6. Decree sheet be prepared.
7. File be consigned to Record Room.
Announced in open court today i.e. on
4th September 2025.
(AMIT KUMAR)
District Judge, Comm. Court-01
North, Rohini Courts, Delhi
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