STATE BANK OF INDIA vs RAJEEV ARORA on 14 October 2026

**FINAL ORDER**

This original application has been filed by the applicant bank on 06.06.2018 before DRT-III Delhi and then transferred to DRT-I Delhi under Section 19 of Recovery of Debts Due to Banks and Financial Institutions Act, 1993 against the *sd-*

defendant for recovery of a sum of Rs.11,45,096/- (Rupees Eleven Lacs Forty Five Thousand Ninety Six only) as on 17.07.2018 together with pendentelite and future interest @15.45% per annum with monthly rest from date of filing of O.A. and costs till the date of realization.

2. The brief facts of the case are that at the request of defendant, the applicant bank sanctioned Car Loan of Rs.10,00,000/- (Rupees Ten Lacs only) @10.95% interest per annum on 30.07.2014 which was to be repaid in 84 monthly instalments of Rs.17,096/- for purchasing Hyundai Verna 1.6 CRDI SX car .

3. That in order to avail the Car Loan facility, the defendant executed Sanction Letter, Arrangement Letter, Annexure-I, Loan Cum Hypothecation Agreement, Annexure Car VIII on 30.07.2014 towards the applicant bank and deposited vehicle purchase documents, sale certificate, insurance certificate cum policy schedule, vehicle delivery letter, registration certificate of vehicle.

4. In order to secure the car loan facility, the defendant hypothecated the Hyundai Verna Car bearing registration no.UP-14CH-8878 in favour of applicant bank on 23.08.2014.

5. It has been submitted by the applicant bank that after availing the car loan facility, the defendant failed to pay the monthly instalments and outstanding in time to the applicant bank. The applicant bank declared the account as Non Performing Asset on 30.01.2016 and issued legal notice dated 26.10.2016 to adjust the outstanding amount along with interest but defendant failed to comply with the notice. Hence, Sd- the applicant bank has approached this Tribunal for recovery of their dues.

6. Notices of this O.A. were issued to the defendant and despite proper service, the defendant chose to absent from the proceedings and none appeared on behalf of defendant, hence proceed ex-parte. As per order dated 25.09.2026, the defendant has been proceeded ex-parte as not appeared before the Tribunal and even no written statement, evidence and affidavit of assets have been filed by the defendant.

7. In order to prove its case, the applicant bank has filed the copies of documents such as Gazette Notification, Application Form, Vehicle Purchase Documents, Sale Certificate, Insurance Certificate, Vehicle Delivery Letter, Registration Certificate, Annexure Car IV, Appraisal-cum-Control Report, Post Sanction Inspection Report, Opinion Report, Notice u/s 13(2) of SARFAESI Act, Sanction Letter for Car, Arrangement Letter, Annexure-I, Loan cum Hypothecation Agreement, Annexure Car VIII, Post Sanction Inspection sheet, Copy of Legal Notice and Statement of Accounts marked as Page no.1 to 71.

8. 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.

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

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10. In the light of the above discussions and documents on record, the Original Application deserves to be allowed.

**ORDER**

I, allow this OA and direct the defendant to pay to the applicant bank within 30 days, a sum of Rs.11,45,096/- (Rupees Eleven Lacs Forty Five Thousand Ninety Six only) as on 17.07.2018 together with pendentelite and future interest @15.45% per annum with monthly rest and costs from filing of this O.A. failing which the aforesaid amount shall be recovered from sale of hypothecated Hyundai Verna Car bearing registration no.UP-14CH-8878, and in case of shortfall the amount shall be recovered from the sale of movable and immovable assets of the defendant.

(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 14.12.2026.

(IV) Copies of final order as well as Recovery Certificate be sent to all concerned free of cost.

— *sd - 26* **(GOVIND BALLABH SHARMA)** **PRESIDING OFFICER** **DRT-I, DELHI**

(Dictated and pronounced in open court) Dated: 14.10.2026