IDBI BANK vs HARISH AGARWAL on 17 January 2026

FINAL ORDER

This original application has been filed by the applicant bank on 03.09.2019 before DRT-II Delhi & then transferred to DRT-I Delhi under Section 19 of Recovery of Debts and Bankruptcy Act, 1993 against the defendants for recovery of

Rs.1,03,67,068/- (Rupees One Crore Three Lacs Sixty-Seven Thousand Sixty Eight only) as on 26.08.2019 together with pendentelite and future interest @Contractual rate of interest from 20.06.2019 till the date of realization along with costs.

2. The brief facts of the case are that at the request of defendants no.1 and 2 as brother and sister and defendant no.3 and 4 being partnership concern of defendant no.1 and 2 vide their loan applications dated 30.08.2014, the applicant bank sanctioned home loan for Rs.64,50,000/- and Rs.45,50,000/- respectively to the defendants; Total aggregating to Rs.1.10 Crores (Rupees One Crore Ten Lacs only) on 12.11.2014 for takeover of their existing loan from DHFL and for additional funding for their business purposes against property at East End Enclave, Laxmi Nagar Delhi.

3. That in order to avail both the loan facilities, the defendants submitted loan applications and executed Loan Agreement, Power of Attorney, Memorandum of Entry, Declaration and Undertaking of Mortgage by deposit of title deed & Declaration, Indemnity and Undertaking cum Indemnity, Loan Agreement for Takeover of Housing Loan from Banks, Affidavit-cum-Undertaking, Agreement for Extension of Housing Loan, Memorandum of Entry and Disbursement request etc. on 24.11.2014 in favour of the applicant bank.

4. It has been submitted by the applicant bank that in order to secure both the loan facilities, the defendant no.1 deposited complete chain of title deed of property bearing No.62, IIIrd Floor, East End Enclave, Near Priyadarshini Vihar, Lakshmi Nagar, Delhi-110092 with the applicant bank on 24.11.2014.

5. It has been submitted by the applicant bank that after availing the aforesaid loan facilities, the defendants failed to comply with the terms and conditions and despite several requests and reminders, the defendants failed to deposit interest and instalments with the applicant bank. The applicant bank issued recall notice dated 04.08.2018 calling upon the defendants to pay the entire dues but defendants neglected the same. Hence, the applicant bank has approached this Tribunal for recovery of their dues.

6. Notices of this O.A. were issued to the defendants and despite proper service, the defendants have chosen to absent from the proceedings and none appeared on behalf of defendants. As per order dated 07.10.2025, the defendants have been proceeded ex-parte as not appeared before the tribunal and even written statement, evidence and affidavit of assets has also not been filed before this Tribunal.

7. In order to prove its case, the applicant bank has filed its evidence by way of affidavit of Mr. Rohit Mehra, authorized representative of the applicant bank who has proved the documents such as Delegation of Powers, Loan Applications, Sanction Letters, Loan Agreements, Power of Attorneys, Memorandum of Entry, Declarations and Undertaking of Mortgage by deposit of title deed & Declaration, Indemnity and Undertaking cum Indemnity, Loan Agreement for Takeover of Housing Loan from Banks, Affidavits-cum-Undertakings, Agreement for Extension of Housing Loan, Disbursement Request, Title chain of Mortgaged Property, Recall Notice, Statement of Accounts, Chart showing change in BPLR, Statement of Account as per Banker's Book of Evidence Act and Certificate marked as Ex.AW-1/1 to Ex.AW-1/26.

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 unrebutted and there is no question of disbelieving the case of the applicant bank and applicant bank has proved its case beyond reasonable doubts.

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 defendants to pay to the applicant bank within 30 days, jointly or severally, a sum of Rs.1,03,67,068/- (Rupees One Crore Three Lacs Sixty Seven Thousand Sixty Eight only) as on 26.08.2019 along with pendentelite and future interest @10.25% per annum with monthly rests from 20.06.2019 till the date of realization along with costs failing which the aforesaid amount shall be recovered from sale of mortgaged property bearing no.62, IIIrd Floor, East End Enclave, Near Priyadarshini Vihar, Lakshmi Nagar, Delhi-110092. In case of shortfall, the same shall be recovered from the sale of movable and immovable assets 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 18.03.2026.

(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: 17.01.2026