CANARA BANK vs DHIRENDRA KUMAR SINGH on 7 March 2026

FINAL ORDER

This original application has been filed by the applicant bank on 23.04.2019 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.1,18,70,686.83 (Rupees One Crore Eighteen Lacs Seventy Thousand Six Hundred Eighty Six and paisa Eighty Three only) as on 22.04.2019 along with pendentelite and future interest @12.50% per annum with monthly rests plus 2% penal interest from the date of filing of this application till its realization with costs.

2. The brief facts of the case are that defendant no.1 being proprietor of M/s Divyanshi Bricks Field in the business of manufacturing of building bricks and defendant no.2 is the wife of defendant no.1 was granted various credit facilities since November 2015. On the request of defendant no.1 and 2 vide loan application dated 05.08.2015, the applicant bank sanctioned Housing loan of Rs.35.00 lacs (Rupees Thirty Five Lacs only) on 19.11.2015 @9.65% per annum with monthly rests for purchase of Flat bearing no.B060103, First floor measuring 1375 sq. ft. in B06 Building, Project Crescent ParC, Ebony Greens situated at H-24, Ghaziabad UP developed by SARE homes of SAAMAG Constructions Ltd., Ghaziabad to be repayable in 360 EMIs of Rs.29,814/- each. Further, on the request of the defendants vide loan application dated 15.05.2017, the applicant bank sanctioned Overdraft / Cash Credit limit for Rs.65.00 lacs (Rupees Sixty Five lacs only) on

12.06.2017 @9.95% per annum with monthly rests against hypothecation of stock and extension of mortgage of property.

3. That in order to avail the housing loan and Overdraft/ Cash Credit facilities, the defendants submitted loan application forms and executed Housing Loan Agreement, Letter of Authorization, Letter of Undertaking Re: Loans / Advances, Specimen Signature Card dated 19.11.2015 and Request for Overdraft facilities, Pronote, Letter of Proprietorship, Form No.589, Cash Credit Agreement (Form NF795) with Stock Statement and Specimen Signature Card on 12.06.2017 in favour of the applicant bank.

4. In order to secure both the loan facilities, the defendants created equitable mortgage of their Flat bearing no.B060103, First Floor measuring 1375 sq. ft., B06 Building, Crescent ParC, Ebony Greens, NH-24, Ghaziabad, Uttar Pradesh developed by SARE Homes of SAAMAG Constructions Ltd., Ghaziabad with the applicant bank on 11.02.2016 by depositing original Sale Deed, original Possession Certificate dated 10.02.2016, original Flat Buyer Agreement dated 29.07.2015 and notarized affidavit dated 18.02.2015 towards the applicant bank.

5. It has been submitted by the applicant bank that after availing the credit facilities, the defendants failed to comply with the terms and conditions despite several letters/notices dated 01.10.2017, 10.11.2017 and 11.01.2018 for regularization of the account and to submit stock statements regularly but the defendants failed to regularize the account. Ultimately, the applicant bank classified the account as NPA on 31.03.2018 due to non service of interest in the account as per RBI guidelines and issued recall notice dated 25.04.2018 but defendants neglected, hence, the applicant bank has approached this tribunal for recovery of its 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 10.11.2025, the 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.

7. Notice under Section 13(2) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act 2002 dated 01.08.2018 was issued to the defendants by the applicant bank and issued notice under Section 13(4) on 03.01.2019 by taking symbolic possession of property duly served on the defendants.

8. The defendant no.1 for himself and on behalf of defendant no.2 acknowledged the outstanding debt in housing loan account on 12.07.2018 towards the applicant bank.

9. In order to prove its case, the applicant bank has filed its evidence by way of affidavit of Shri Vijay Singh, authorized representative of the applicant bank who has proved the documents such as Loan Applications, Allotment Letter, Receipts, Flat Buyer's Agreement, Voter ID card, PAN Card, Aadhar Card, ITR, Passport, Layout plan with Sanction Letters, GDA Approval Letters, Board Resolution, Housing Loan Agreement, Letter of Authorization, Letter of Undertaking, Specimen Signature Card, Receipt, Possession Certificate, Pronote, Cash Credit Agreement, Letter evidencing Deposit of Title Deeds, Letters/Notices, Recall Notices, Demand Notice, Possession Notice, Certified Statement of Account under _

Banker's Book Evidence Act, Calculation Sheet and Vakalatnama marked as Ex.AW-1/1 to Ex.AW-1/45(OSR).

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 proved.

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

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, jointly or severally, within 30 days, a sum of Rs.1,18,70,686.83 (Rupees One Crore Eighteen Lacs Seventy Thousand Six Hundred Eighty Six and paisa Eighty Three only) as on 22.04.2019 along with pendentelite and future interest @14.50% per annum with monthly rests from the date of filing of this application till the date of realization and costs, failing which the aforesaid amount shall be recovered from the sale of the hypothecated stocks and mortgaged property being Flat bearing no.B060103, First Floor measuring 1375 sq. ft., B06 Building, Crescent ParC, Ebony Greens, NH-24, Ghaziabad, U.P. 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 the Recovery Officer, Debt Recovery Tribunal-I, Delhi. (III) Parties are directed to appear the Recovery Officer, DRT I, Delhi on 06.05.2026. (IV) Copies of final order as well as Recovery Certificate be sent to all concerned free of cost. 1-24')-G (GOVIND BALLABH SHARMA) PRESIDING OFFICER DRT-I, DELHI (Dictated and pronounced in open court) Dated: 07.03.2026