IDBI BANK vs DANISH MAHMOOD KHAN AND ORS on 25 September 2026

FINAL ORDER

This original application has been filed by the applicant bank on 05.03.2022 before DRT-II, Delhi and then transferred to DRT-I Delhi under Section 19 of Recovery of Debts and Bankruptcy Act, 1993 (as amended upto date) against the defendants for recovery of a sum of Rs.47,70,475/- (Rupees Forty Seven lacs Seventy thousand Four hundred Seventy Five only) as on 09.12.2021 along with pendentelite and future interest @9.40% per annum with monthly rest from 09.12.2021 till the date of its realization and costs.

2. The brief facts of the case are that on the request of defendant no.1 and 2 vide their loan application along with allotment agreement dated 24.06.2018, the applicant bank sanctioned housing loan facility for Rs.44.50,000/- (Rupees Forty Four lacs Fifty thousand only) and disbursed an amount of Rs.42,27,000/- (Rupees Forty Two lacs Twenty Seven thousand only) vide loan agreement dated 13.07.2018 @8.60% interest per annum with monthly rests subject to change as per bank's guidelines to be repaid in 240 EMI's of Rs.38,900/- in order to purchase under construction Flat No.G-2502, Tower G, Cloud 9, Plot No.RC-1/2, Sector-1, Vaishali, Ghaziabad, UP being developed and constructed by defendant no.3. In case of default in repayment of monthly instalments, SD

the defendant no. 1 to 2 agreed to pay @2% penal interest over the agreed rate of interest.

3. That in order to avail the housing loan facility, the defendant no.1 to 2 submitted loan application along with PAN Cards, Aadhar Cards & Election IDs and Builder Buyers Allotment Agreement dated 24.06.2018 and executed Terms & Conditions of Loan facility, Sanction Letter, Loan Agreement, Power of Attorney, Declaration, Affidavit cum Undertaking, Indemnity Bond, Power of Attorney, Permission to Mortgage dated 13.07.2018 issued by defendant no.3 and Tripartite Agreement dated 24.06.2018 in favour of applicant bank.

4. That in order to secure the loan facility, the applicant bank created equitable mortgage of Flat No.G-2502, Tower G, Cloud 9, Plot No.RC-1/2, Sector-1, Vaishali, Ghaziabad, UP on the basis of Builders' Buyer Agreement and Permission to Mortgage dated 13.07.2018 issued by defendant no.3.

5. As per Tripartite Agreement dated 24.06.2018 and building buyer agreement, defendant no.3 agreed to note charge on flat in favor of applicant bank and assured that defendant no.1 and 2 will not be to permitted to cancel, transfer assign, sell off the said flat without prior consent of applicant bank and registry documents will be sent directly on completion of necessary formalities. That in the event of borrowers failed to complete the sale transaction and registration, defendant no.3 undertakes to return the money received from the bank for flat in question.

6. It has been submitted by the applicant bank that after availing the loan facility, the defendants failed to comply with the terms and conditions and despite several requests and reminders the defendants failed to pay the outstanding dues sd- and monthly installments in time to the applicant bank. Ultimately, the applicant bank classified the account as NPA on 10.11.2020 and issued demand notice dated 13.05.2021 to the defendants to liquidate the dues but defendants neglected, hence the applicant bank has approached this Tribunal for recovery of their dues.

7. Notices under Section 13(2) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act 2002 was issued by applicant bank on 22.07.2021 for Rs.45,01,277/- as on 10.03.2021 along with further interest to the defendant no.1 & 2 to liquidate the dues but defendants neglected.

8. Notices of this O.A. were issued to the defendants and despite proper service the defendants have chosen to absent from the proceedings. As per order dated 23.07.2024, the defendant no.1 & 2 have been proceeded ex-parte as they have not appeared before the Tribunal nor written statement, evidence and affidavit of assets have been filed.

9. The matter was pending with NCLT Delhi against defendant no.3 under Section 30(6) of IBC 2016 and approved Resolution Plan of COC in favour of SKAEL Enterprises Pvt.Ltd., and appointed Resolution Professional Sh.Mohit Goyal as IRP. M/s Everlike Real Estate & Developers Pvt.Ltd. filed appeal before Hon'ble NCLAT Delhi against Sh.Mohit Goyal & M/s SKAEL Enterprises Pvt.Ltd. vide Comp. App.(AT) (Ins) No.978 of 2024 and vide order dated 02.07.2024, the Hon'ble NCLAT dismissed the appeal as there was no merit.

10. In order to prove its case, the applicant bank has filed its evidence by filing the copies of the documents such as Delegation of Power, Letter with Terms & Conditions, Loan Sd- Application Form, Loan Agreement, Power of Attorney, Declaration, Affidavit cum Undertaking, Indemnity Bond, Demand letter, Receipts, Builder Buyers Allotment Agreement, Permission to Mortgage, Tripartite Agreement, Loan Recall Notice, Demand Notice u/s 13(2), Postal Receipts, Invocation of Tripartite Agreement, Statement of Account with Certificate under Section 2A of Bankers Books of Evidence Act and Certificate under Section 65B of Indian Evidence Act marked as Pager no.4 to 122.

11. 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.

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

13. In the light of the above discussions, 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.47,70,475/- (Rupees Forty Seven lacs Seventy thousand Four hundred Seventy Five only) as on 09.12.2021 along with pendentelite and future interest @9.40% per annum with monthly rest from 09.12.2021 till the date of its realization and costs, failing which the aforesaid amount shall be recovered from the sale of the mortgaged Flat No.G-2502, Tower G, Cloud 9, Plot No.RC-1/2, Sector-1, Vaishali, sd- Ghaziabad, UP. In case of shortfall, the same shall be recovered from the sale of movable and immovable properties 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 25.11.2026.

(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: 25.09.2026