UNION BANK OF INDIA (CORPORATION BANK) vs RAJENDER SINGH RANA on 23 March 2026

FINAL ORDER

This original application has been filed by the applicant bank on 18.07.2018 before DRT-II Delhi and then transferred to DRT-I Delhi under Section 19(1) of Recovery of Debts and Bankruptcy Act, 1993 against the defendants for recovery of a sum of Rs.11,98,294/- (Rupees Eleven Lacs Ninety Eight Thousand Two Hundred Ninety Four only) as on 31.05.2018 along with pendentelite and future interest @11.55% per annum with monthly rest from 01.06.2018 till its realization in full along with cost.

2. The brief facts of the case are that at the request of defendant No.1 & 2 being co-borrowers, the applicant bank sanctioned housing loan of a sum of Rs.29,50,000/- (Rupees Twenty Nine Lacs Fifty Thousand Only) on 02.12.2016 @9.55% interest per annum compounded monthly to be repayable in 312 equated installment of Rs.26,144/- in order to purchase under construction Unit no.1105, 11^th Floor, measuring 1285 sq.ft., 3 Dimension, Khasra No.1264 & 1265, Village Noor Nagar, Ghaziabad, UP being constructed by defendant no.3 based on builder buyer agreement dated 13.10.2016. The defendant no.1 and 2 agreed to pay @2% penal interest in case of delay or default in repayments.

3. That in order to avail the housing loan facility, the defendant no.1 & 2 submitted housing loan application form and executed Agreement for Term Loan, Letter of Undertaking and Declaration, Request for Disbursement Letter and Tripartite Agreement on 08.12.2016 towards the applicant bank.

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4. That in order to secure the loan facility, the defendant no.1 & 2 executed Memorandum of Deposit of Title Deeds of under construction Unit no.1105, 11^th Floor, measuring 1285 sq.ft., 3 Dimension, Khasra No.1264 & 1265, Village Noor Nagar, Ghaziabad, UP as per Permission to create mortgaged issued by defendant no.3 towards applicant bank.

5. As per Tripartite Agreement dated 08.12.2016, defendant no.3 marked lien on the property financed and assured to complete the construction within 36 months from date of the agreement and handover the possession to the allottees and in case of delay, will pay delayed possession charges @5% per sq.ft. to the allottee for delayed period. In case of violation / cancellation of agreement for any reasons before execution of sale deed, the defendant no.3 agrees to return all money received from defendant no.1 & 2 to the applicant bank. The defendant no.1 & 2 also undertakes to pay regular monthly installments / interest even after changes in schedule of construction of project got delayed or deferred by defendant no.3.

6. It has been submitted by the applicant bank that after availing the aforesaid loan facility, the defendants failed to pay the outstanding dues in time to the applicant bank. Due to indiscipline in depositing the installments, the applicant bank issued loan recall notice dated 24.04.2018 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. Notices of this O.A. were issued to the defendants and despite of proper service the defendants have chosen to absent Sd- from the proceedings. As per order dated 03.02.2025, the defendant no.1 & 2 and defendant no.3 vide order dated 17.03.2026 have been proceeded ex-parte as not appeared before the Tribunal and even no written statement, evidence and affidavit of assets have been filed.

8. In order to prove its case, the applicant bank has filed its evidence by way of affidavit of Sh.Deepak Chandni, authorized representative of the applicant bank who have proved the documents such as Power of Attorney Ex.AW1/1, CSI Ex.AW1/2, Agreement for Term Loan Ex.AW1/3, Letter of Undertaking & Declaration Ex.AW1/4, Request for Disbursement Letter Ex.AW1/5, Memorandum of Deposit of Title Deeds Ex.AW1/6, Flat Buyers' Agreement Ex.AW1/7, Noting of Lien Ex.AW1/8, Permission to Mortgage Letter Ex.AW1/9, Tripartite Agreement Ex.AW1/10, Demand Notice Ex.AW1/11, Postal Receipts Ex.AW1/12(colly), Statement of Account Ex.AW1/13.

9. 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.

10. 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.

11. In the light of the above discussions, the Original Application deserves to be allowed.

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**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.11,98,294/- (Rupees Eleven Lacs Ninety Eight Thousand Two Hundred Ninety Four only) as on 31.05.2018 along with pendentelite and future interest @11.55% per annum from the date of filing of this O.A. till the date of realization and costs failing which the aforesaid amount shall be recovered from sale of mortgaged Unit no.1105, 11^th Floor, measuring 1285 sq.ft., 3 Dimension, Khasra No.1264 & 1265, Village Noor Nagar, Ghaziabad, UP. In case of shortfall, the same shall be recovered from the sale of moveable and immovable property 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 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/-* *2026* **(GOVIND BALLABH SHARMA)** **PRESIDING OFFICER** **DRT-I, DELHI**

(Dictated and pronounced in open court) Dated: 23.03.2026