IDBI BANK vs GURPREET SINGH BEDI AND ORS on 21 February 2026

FINAL ORDER

This original application has been filed by the applicant bank on 23.03.2022 before DRT III, Delhi and then transferred to DRT-I Delhi under Section 19(1) of Recovery of Debts Due to Banks and Financial Institutions Act, 1993 against the defendants for recovery of a sum of Rs.31,59,196/- (Rupees Thirty One Lacs Fifty Nine Thousand One Hundred Ninety Six only) as on 21.02.2022 along with costs, pendentelite and future interest at contractual rate of interest and @2% penal interest from 22.02.2022 till the date of realization along with cost and expenses.

2. The brief facts of the case are that at the request of defendant No.1 & 2 vide their loan application dated 08.05.2019, the applicant bank sanctioned and disbursed Housing Loan of Rs.32,00,000/- (Rupees Thirty Two Lacs Only) on 16.05.2019 and disbursed an amount of Rs.26,71,200/- @8.75% interest per annum which was to be repayable in 240 EMIs of Rs.28,279/- in order to purchase under constructed flat no.2102, 21st Floor, Tower C, Marina Suites, GH-3/1, Park Town, NH-24, Ghaziabad, UP being constructed and developed by defendant no.3, the builder/ developer of the project based on Builder Buyer Agreement dated 17.05.2019.

3. That in order to avail the housing loan facility, the defendant no.1 & 2 executed sanction letter with terms and conditions, Undertaking/Bond/Declaration, Undertaking cum Indemnity Bond, Affidavit cum Undertaking, Declaration & Undertaking cum Indemnity Bond, Power of Attorney and Loan got

Agreement on 19.07.2019 in favour of applicant bank. The defendant no.1 & 2 executed Tripartite Agreement between defendant no.3 and applicant bank in addition to permission to mortgage / NOC with applicant bank on 19.07.2019.

4. It has been submitted by the applicant bank that in order to secure the housing loan facility, the defendant no.1 & 2 mortgaged the Flat No.2102, 21st Floor, Tower C, Marina Suites, Plot No.GH-3/1, Park Town, NH-24, Ghaziabad, UP by deposing original Agreement for Sale dated 17.05.2019 in favour of the applicant bank on 19.07.2019.

5. The defendants executed Tripartite Agreement dated 19.07.2019 undertook to keep agreement to sell and other documents issued by defendant no.3 in favour of defendant no.1 and 2 in safe custody of applicant bank till terms and conditions are complied with.

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 of several requests and reminders, the defendants failed to clear outstanding dues in time to the applicant bank. Ultimately, the applicant bank declared the account as NPA on 01.04.2021 w.e.f. 10.10.2020 and issued recall notice on 26.04.2021 calling upon the defendants to pay the entire outstanding dues to the applicant bank but the defendants did not clear the dues of the applicant bank and hence the applicant bank has approached this Tribunal for recovery of their dues.

7. Notice under Section 13(2) of the Securitization and Reconstruction of Financial Assets and. Enforcement of Security Interest Act 2002 dated 07.09.2021 was issued by the applicant bank to defendants to deposit entire outstanding but no response.

8. Notices of this O.A. were issued to the defendants and despite of proper service, the defendants have chosen to absent from the proceedings. As per order dated 21.11.2025, the defendants have been proceeded ex-parte as they have not appeared before the Tribunal and even no written statement, evidence and affidavit of assets has been filed on behalf of the defendants.

9. In order to prove its case, the applicant bank has filed its evidence by way of affidavit of Shri Om Prakash, authorized representative of the applicant bank who has proved the documents as Delegation of Powers, Home Loan Application, Sanction Letter, Builder Buyer Agreement, Undertaking cum Indemnity Bond, Affidavit cum Undertaking, Declaration and Undertaking, Undertaking, Declaration, Undertaking cum Indemnity Bond, Permission to Mortgage, Home Loan Agreement along with Power of Attorney, Demand Draft, Tripartite Agreement, Loan Recall Notice with Postal Receipts, Demand Notice, Valuation Report, Certified Statement of Account under Section 65(B)(4) marked as Exhibit PW1/1 to Exhibit PW1/18.

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 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 within 30 days, jointly or severally, a sum of Rs.31,59,196/- (Rupees Thirty One Lacs Fifty Nine Thousand One Hundred Ninety Six only) as on 21.02.2022 along with costs, pendentelite and future interest @10.75% per annum from 21.02.2022 with cost and expenses failing which the aforesaid amount shall be recovered from the sale of mortgaged Flat No.2102, 21st Floor, Tower C, Marina Suites, Plot No.GH-3/1, Park Town, NH-24, Ghaziabad, UP. In case of shortfall / default, the same shall be recovered from the sale of moveable and immovable properties of the defendants. (II) The recovery certificate be issued forthwith and be sent 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. (IV) Copies of final order as well as Recovery Certificate be sent to all concerned free of cost. (GOVIND BA = ARMA) PRESIDING OFFICER DRT-I, DELHI (Dictated and pronounced in open court) Dated: 21.02.2026