AU SMALL FINANCE BANK LIMITED vs AMIT BATRA on 23 March 2026

**FINAL ORDER**

This original application has been filed by the applicant bank before DRT-II, Delhi on 01.12.2023 and then transferred to DRT-I Delhi under Section 19 of Recovery of Debts Due to *Sd-*

Banks & Financial Institutions Act, 1993 read with Rule 8 of the Debt Recovery Tribunal (Procedure) Rules 1993 against the defendants for recovery of a sum of Rs.1,44,92,495/- (Rupees One Crore Forty Four lacs Ninety Two Thousand Four Hundred Ninety Five only) as on 06.09.2023 along with pendentelite and future interest @14.00% per annum with monthly rests respectively from 07.09.2023 till its realization with costs.

2. The brief facts of the case are that on the request of the defendants, the applicant bank sanctioned loan against property facility of Rs.90,00,000/- (Rupees Ninety lacs only) on 24.09.2015 @16.50% floating rate of interest compounded on monthly basis against mortgage of property. On the request of defendants, the limits was reviewed and restructured the limit to Rs.81.22 lacs on 09.08.2017 @14% rate of interest per annum on compounded monthly basis.

3. In order to avail the loan against property facility, the defendants submitted loan applications and executed Loan Agreements and Declaration on 25.09.2015 and 10.08.2017 towards the applicant bank.

4. That in order to secure the loan against property, the defendant no.2 created registered mortgaged of property by executing Memorandum of Deposit of Title Deeds of entire basement and ground floor (without roof rights terrace) part of built up freehold property bearing no.1563 (old No.XV/2224), admeasuring 180 sq.yds situated at Main Bazar, Paharganj, New Delhi in favour of applicant bank on 10.08.2017.

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5. It has been submitted by the applicant bank that after availing the loan against property facility, the defendants failed to comply with the terms and conditions of sanction and regularize the account with the applicant bank. Ultimately, the applicant bank issued demand notice under Section 13(2) of Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act 2002 on 24.09.2019 calling upon defendants to clear outstanding dues within 60 days but no response from the defendants, hence, the applicant bank has approached this Tribunal for recovery of their dues.

6. Notices of this O.A. were issued to the defendant and despite of proper service, the defendant has chosen to absent from the proceedings. As per order dated 20.09.2024, the defendant 2 and 3 has been proceeded ex-parte as not appeared before the Tribunal and even written statement, evidence and affidavit of assets have not been filed and vide order dated 10.10.2025, right to file written statement of defendant no.1 has already been closed.

7. In order to prove its case, the applicant bank has filed its evidence by way of Affidavit of Sh. Sandeep Singh, authorized representative of the applicant bank who has proved the documents such as Power of Attorney, Sanction Letters, Loan Agreements, Memorandums of Deposit of Title Deeds, Declaration, Title Deeds, Demand Notices & Postal Receipts, Statement of Account and Certificate marked as Ex.AW-1/1 to Ex.AW-1/12.

8. The applicant bank has fully corroborated the averments made in the O.A. Even otherwise the whole case of the *Sd-*

applicant bank is based on the documents and the same have been duly approved.

9. The case filed by the applicant bank gone unrebuted 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.1,44,92,495/- (Rupees One Crore Forty Four lacs Ninety Two Thousand Four Hundred Ninety Five only) as on 06.09.2023 along with pendentelite and future interest @14% per annum with monthly rests from 07.09.2023 till the date of realization in full, failing which the aforesaid amount shall be recovered from the sale of mortgaged property i.e. Entire Basement and Ground Floor (without roof rights terrace), part of built up freehold property bearing no.1563 (old No.XV/2224), admeasuring 180 sq.yds situated at Main Bazar, Paharganj, New Delhi. 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.

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(III) Parties are directed to appear before the Recovery Officer, DRT I, Delhi on 22.05.2026.

(IV) Copies of final order as well as Recovery Certificate be sent to all concerned free of cost.

*sd- 2023* **(GOVIND BALLABH SHARMA)** **PRESIDING OFFICER** **DRT-I, DELHI**

(Dictated and pronounced in open court) Dated: 23.03.2026