PUNJAB AND SIND BANK vs RAMJAN ALI KHAN AND ORS on 21 February 2026

FINAL ORDER

This original application has been filed by the applicant bank before DRT-III, Delhi on 31.03.2021 and then transferred to DRT-I Delhi under Section 19 of Recovery of Debts and Bankruptcy Act, 1993 against the defendants for recovery of Rs.31,35,529.90 (Rupees Thirty One Lacs Thirty Five Thousand Five Hundred Twenty Nine and paisa Ninety only) as on 17.03.2021 along with pendentelite and future interest @9.65% per annum plus @2% penal interest from 17.03.2021 till the date of realization and costs.

2. The brief facts of the case are that on the request of the defendant no.1 and 2, the applicant bank sanctioned Housing loan facility for a sum of Rs.30.00 lacs (Rupees Thirty lacs only) on 31.08.2016 @9.60% interest per annum to be repayable in 240 EMIs for purchase of Flat bearing no.F-49, third floor with roof rights, LIG Plot no.F-49, out of Khasra no.1076/5/2, Dilshad Extension No.1 now known as Dilshad Colony area of village Jhilmil Tahirpur, Illaqua Shandara, Delhi. The defendant no.3 and 4 stood as guarantors for the housing loan facility sanctioned in favour of defendant no.1 and 2 by the applicant bank.

3. That in order to avail the housing loan facility, the defendant no.1 and 2 submitted housing loan application and executed Loan Agreement and defendant no.3 & 4 executed

Guarantee Bond vide Form No.256 (RR) in favor of the applicant bank on 31.08.2016.

4. That in order to secure the housing loan facility, defendant no.1 and 2 created mortgage of flat bearing no.F- 49, 3rd Floor with roof rights area covered 480 sq. ft. i.e. 44.59 sq. mtrs., LIG Plot no.F-49, out of Khasra no.1076/5/2, Dilshad Extension no.1 now known as Dilshad Colony area of village Jhilmil Tahirpur, Illaqua Shandara with the applicant bank by executing Form No.84-A (R) on 10.11.2016.

5. It has been submitted by the applicant bank that after availing the housing loan facility, the defendants failed to comply with the terms and conditions of sanction and failed to regularize the account with the applicant bank. Further, the defendants issued Post-dated cheque bearing no.141067 for Rs.89,000/- dated 20.05.2019 which was dishonored with remarks 'Funds insufficient'. The applicant bank issued legal notice dated 17.06.2019 u/s 138 of N.I. Act but defendants still failed to clear outstanding dues. Ultimately, the applicant bank classified the account as NPA on 31.01.2020 as per RBI guidelines and issued legal notice u/s 13(2) of SARFAESI Act on 04.02.2020 but the defendants neglected the same and 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. As per order dated 20.05.2022, 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. Sc -

7. In order to prove its case, the applicant bank has filed its evidence by way of affidavit of Sh. Rajnish, authorized representative of the applicant bank who has proved the documents such as Power of Attorney, Loan Application, Sanction Letter, Loan Agreement, Guarantee Bond, Form no.84-A(R), Legal Notice u/s 13(2), Statement of Accounts marked as Ex.AW-1/1 to Ex.AW-1/9.

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 approved.

9. 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.

10. 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.31,35,529.90 (Rupees Thirty One Lacs Thirty Five Thousand Five Hundred Twenty Nine and paisa Ninety only) together with pendentelite and future interest @9.65% per annum with monthly rests from the date of filing this application till the date of realization and costs; failing which the amount shall be recovered from sale of mortgaged property bearing Flat no.F-49, Third Floor with roof rights area covered under 480 sq. ft. i.e. 44.59 sq. mtrs, LIG Plot no.F-49 out of Khasra no.1076/5/2, Dilshad Extension no.1 now known as Dilshad colony, area of village Jhilmi Tahirpur, Illaqua Shandara, Delhi-110095. 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 the Recovery Officer, DRT I, Delhi on 23.04.2026. (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: 21.02.2026