CANARA BANK vs MR. HANEEF MOHD on 21 February 2026

FINAL ORDER

This original application has been filed by the applicant bank before DRT-III, Delhi and then transferred to DRT-I Delhi 9n 20.07.2020 under Section 19 of Recovery of Debts and Bankruptcy Act, 1993 against the defendants for recovery of

1. s.51,74,494.56 (Rupees Fifty One Lacs Seventy Four Thousand Four Hundred Ninety Four and paisa Fifty Six only) as on 29.02.2020 along with pendentelite and future interest 9.65% per annum with monthly rests plus @2% penal terest from 01.03.2020 till the date of realization and costs. . The brief facts of the case are that on the request of the 9Iefendant no.1 & 2 as joint borrower vide loan application dated 17.05.2016, the applicant bank sanctioned housing loan 1 lacility of Rs.44,00,000/- (Rupees Forty Four lacs only) 9.65% interest per annum, which was to be repayable in 240 MIs of Rs.41,545/- commencing from 30.06.2016 in order to il)urchase under construction residential flat bearing no.4141, 14th Floor, Tower-4, admeasuring 1965 sq. ft. in 'White House Apartments, Plot no.8, Sector-Pi, Greater Noida, G.B.Nagar,

1. P, based on Agreement to Sale dated 08.04.2016 along with ayment schedule issued by defendant no.4, the developer of he project. The defendant no.3 stood as guarantor for the ousing loan facility availed by defendant no.1 and 2 towards efendant no.4.

$. In order to avail the housing loan facility, the defendant no.1 and 2 submitted Housing Loan application and executed Agreement for Housing Loan 20.05.2016, Sanction Letter 23.05.2016, Permission to Mortgage dated 19.05.2016, Fronotes dated 24.05.2016 & 25.10.2016 with the applicant bank along with Guarantee Agreement dated 19.05.2016 by defendant no.3. The defendant no. 1 & 4 executed Tripartite Agreement dated 20.05.2016 with the applicant bank.

4. As per Tripartite Agreement dated 20.05.2016, it was agreed that in the event of failure on the part of defendant no.1 4 2, deferdant no.4 shall pay the entire money so received by it to the applicant bank. The defendant no.4/builder undertaken that on receipt of entire consideration amount, they shall execute proper sale deed/lease deed in name of the defendant ro.1 and 2 and shall deliver the sale deed/lease deed directly to the applicant bank and shall not create any incumbrance/charge/lien over the flat. The defendant no.4 issued acknowledgement receipts of payments made by defendant no.1 on 08.04.2016, 05.05.2016, 23.05.2016, 24.05.2016, 18.10.2016 and 28.10.2016.

6. It has been submitted by the applicant bank that after availing the aforesaid loan facility, the defendants failed to comply with the terms and conditions of sanction and failed to leposit regular EMIs in the account to regularize the account With the applicant bank. Ultimately, the applicant bank issued eminder / letters dated 03.05.2017 and classified the account s NPA on 02.05.2018 as per RBI guidelines but the defendants eglected the same. Hence, the applicant bank has approached this Tribunal for recovery of their dues. 'cl

7. Notices under Section 13(2) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security linterest Act 2002 dated 05.05.2018 and another on 23.05.2018 were issued to the defendants calling upon them to pay the entire outstanding dues with the applicant bank but the Defendants did not clear the dues. The applicant bank issued legal notice dated 01.06.2018 but defendants failed to rlegularize the account.

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 18.05.2025, the defendants have been proceeded ex-parte as they have not appeared before the Tribunal and even written statement, evidence and affidavit of assets have not been filed by the ilefendant.

1. In order to prove its case, the applicant bank has filed its 1 i'vidence by way of affidavit of Shri Sunil Kumar, authorized representative of the applicant bank who has proved the documents such as General Power of Attorney, Housing loan .pplication with necessary documents, Sanction Letter,

Tripartite Agreement, Agreement for Housing Loan, Permission to Mortgage, Guarantee Agreement, Pronotes, Allotment Letter 6.1m Flat Buyers' Agreement with Payment Schedule, Demand lfetters, Acknowledgements of Receipt of payment, Letter for Regularization, Notices u/s 13(2) of SARFAESI Act, Legal Notice ith Payment Receipts, Certified Statement of Account marked s Ex.AW-1/1 to Ex.AW-1/17.

10. 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 approved.

11. 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.

12. 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, jointly or severally, within a period of 30 days, a sum of Rs.51,74,494.56 (Rupees Fifty One Lacs Seventy Four Thousand Four Hundred Ninety Four and paisa Fifty Six only) as on 29.02.2020 together with pendentelite and future interest @11.65% per annum with monthly rests from 01.03.2020 till the date of realization and costs; failing which the amount shall be recovered from sale of Residential Flat ho.4141, 14th Floor, Tower-4, admeasuring 1965 sq. ft. in rhite House Apartments, Plot no.8, Sector-Pi, Greater Noida, c.B.Nagar, U.P. In case of shortfall, the same shall be recovered from the sale of movable and immovable properties Of the defendants. The recovery certificate be issued forthwith and be sent o the Recovery Officer, Debt Recovery Tribunal-I, Delhi. III) Parties are directed to appear before the Recovery Officer, DRT I, Delhi on 22.04.2026. set-

(IV) Copies of final order as well as Recovery Certificate be sent to all concerned free of cost. , Sd- (GOVIND BALLABH SHARMA) PRESIDING OFFICER DRT-I, DELHI (Dictated and pronounced in open court) Dated: 21.02.2026