STATE BANK OF INDIA vs MANGKHOTHANG HAOKIP on 27 January 2026

FINAL ORDER

This original application has been filed by the applicant bank on 20.07.2019 before DRT-III, Delhi and then transferred to DRT-I Delhi through Sh.Lalit Kumar Gupta, authorized representative of the applicant bank under Section 19 of Recovery of Debts and Bankruptcy Act, 1993 against the defendants for recovery of a sum of Rs.23,48,094/- (Rupees Twenty Three Lacs Forty Eight Thousand Ninety Four only) along with pendentelite and future interest @10.25% per annum with monthly rests from the date of filing this application till the date of realization along with costs.

2. The brief facts of the case are that on the request of the defendant no.1 vide loan application dated 13.06.2013, the applicant bank sanctioned Housing cum Renovation loan for a sum of Rs.19.00 Lacs (Rupees Nineteen lacs only) on 17.07.2013 against mortgage of property and Car loan for Rs.3.60 lacs (Rupee Three lacs Sixty Thousand only) on 17.09.2012 for purchase of car bearing Registration no.DL8CX 6740, Ford Figo EXI , Chassis no.MAJIXXMIUICA59029 against hypothecation. The defendant no.2 stood as guarantor for the credit facilities sanctioned in favour of defendant no.1 by the applicant bank.

3. That in order to avail both the loan facilities, the defendant no.1 submitted loan applications dated 13.06.2013 & 15.09.2012 and executed Sanction Letters, Agreement of Loan, Irrevocable Power of Attorney, Undertaking and Declaration, Agreement for Medium Term Loan, General Indemnity, Guarantee Agreements with the applicant bank on 17.07.2013 and 17.09.2012.

4. That in order to secure the housing loan facility, the defendants created equitable mortgage by depositing original Title Deeds and other related documents of properly bearing DDA LIG Flat, bearing no.694, IIIrd Floor, Pocket Al Block C, Lok Nayak Puram, Bakkarwala New Delhi 110041, admeasuring 452 sq.ft. with the applicant bank on 18.07.2013 vide Memorandum of Deposit of Title Deeds. The defendant no.1 hypothecated the Car having registration no.DL8CX 6740, make Ford Figo 1.2 EXI, Chasis no.MAJDONRJICA59029 with the applicant bank on 24.09.2012 and submitted Original Proforma Invoice of Car, Insurance Policy, Registration Certificate and Retail Invoice etc.

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 of sanction and failed to deposit overdue interest and installments in the account to regularize the account with the applicant bank. Ultimately, the applicant bank classified both the accounts as NPA on 17.02.2017 and 18.02.2017 as per RBI guidelines due to non- adherence to financial discipline but defendant not responded, hence the applicant bank has approached this tribunal for recovery of its dues.

6. Notice under section 13(2) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act 2002 dated 03.11.2017 was issued to the defendants by applicant bank but defendants neglected the same. The applicant bank issued possession notice u/s 13(4) dated 01.12.2018 but defendants failed to pay outstanding dues. Set —

7. 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 01.09.2025, defendants have been proceeded ex-parte as they have not appeared before the Tribunal nor written statement, evidence and affidavit of assets have been filed.

8. In order to prove its case, the applicant bank has filed its evidence by way of affidavit of Shri Lalit Kumar Gupta, authorized representative of the applicant bank who has proved the documents such as copy of Gazette Notifications, Housing Loan Application, Sanction Letters, Agreements of Loan, Irrevocable Power of Attorney, Undertaking and Declaration, Letter of Release, Memorandum of Deposit of Title Deeds, Equitable Mortgage Loose Leaf Register, Demand Letter, Bank Receipts, Possession Offer Letter, Entitlement Letter, Conveyance Deed, Car Loan Application Form, Agreement for Medium Term Loan, General Indemnity, Guarantee Agreement, Proforma invoice of Astro Ford, Retail Invoice, Stamped Receipts, Registration Certificate, Insurance Policy, Hypothecation Record of the Transport Department, Notice u/s 13(2) of SARFAESI Act, Possession Notice, Statements of Accounts marked as Ex.AW-1/1 to Ex.AW-1/32.

9. 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.

10. 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.

11. 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.23,48,094/- (Rupees Twenty Three Lacs Forty Eight Thousand Ninety Four only) along with pendentelite and future interest @10.25% per annum with monthly rests from the date of filing this application till its realization with costs, failing which the aforesaid amount shall be recovered from the sale of mortgaged DDA LIG Flat No.694, IIIrd Floor, Pocket A, Block C, Lok Nayak Puram, Bakkarwala, New Delhi-110041 admeasuring 452 sq. fts and hypothecated Car bearing Registration no.DL8CX 6740, make Ford Figo 1.2 EXI, Chasis no.MAJDO<MRJICA59029. 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 Recovery Officer, DRT I, Delhi on 01.04.2026. (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: 27.01.2026