VINOD KUMAR SHARMA vs PUNJAB NATIONAL BANK

Judgment text excerpt

$~20 * IN THE HIGH COURT OF DELHI AT NEW DELHI % Date of Decision:07.11.2025 + W.P.(C) 16864/2025, CM APPL. 69378/2025, CM APPL. 69379/2025 and CM APPL. 69380/2025 VINOD KUMAR SHARMA .....Petitioner Through: Mr. Gaurav Srivastava, Adv. versus PUNJAB NATIONAL BANK .....Respondent Through: Mr. Santosh Kumar Rout, Adv. CORAM: HON'BLE MR. JUSTICE ANIL KSHETARPAL HON'BLE MR. JUSTICE HARISH VAIDYANATHAN SHANKAR J U D G M E N T (ORAL) ANIL KSHETARPAL, J. 1. The present Petition has beenfiled by the Petitioner under Article 226 of the Constitution of India, assailing correctness of the order dated 26.06.2025 passed by the learned Debts Recovery Tribunal-1, Delhi [hereinafter referred to as “DRT”] in M.A. No.58/2025 in S.A. No. 312/2023 captioned Vinod Kumar Sharma vs. Punjab National Bank. 2. The Respondent/Bank, on account of default in repayment of the loan, initiated proceedings under the provisions of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002[“SARFAESI Act”]. 3. The Petitioner filed a Supplementary Application before the DRT seeking restraint against the Respondent/Bank from auctioning the property bearing House No.53 at Srinagar Colony, Sindhora Signature Not Verified W.P.(C) 16864/2025 Page 1 of 3 Signed By:JAI NARAYAN Signing Date:13.11.2025 11:42:14 Kalan, Ashok Vihar, New Delhi [hereinafter referred to as “Suit Property”]. 4. On 28.03.2025, the learned Chairperson, DRT, permitted the Petitioner to deposit an amount of Rs.3,00,000/- on the same day and the remaining overdue amount of Rs.3,10,000/- within 30 days. The Petitioner undertook to deposit the aforesaid amounts and to pay future EMIs regularly as per schedule. 5. The Petitioner again defaulted and thereafter filed an application seeking extension of