STATE BANK OF INDIA vs CHANDER PRAKASH on 18 April 2026

**FINAL ORDER**

This original application has been filed by the applicant bank on 18.01.2020 before DRT-II, Delhi and then transferred Sd- to DRT-I, Delhi under Section 19 of Recovery of Debts and Bankruptcy Act, 1993 against the defendants for recovery of a sum of Rs.3,05,92,889/- (Rupees Three Crore Five Lacs Ninety Two Thousand Eight Hundred Eighty Nine only) as on 17.01.2020 along with pendentelite and future interest @9.70% per annum with monthly rest plus @2% penal interest from the date of this application till the date of its realization and costs.

2. The brief facts of the case are that on the request of defendant no.1 & 2, the applicant bank sanctioned Home equity loan of Rs.3,00,00,000/- (Rupees Three Crores only) on 31.03.2015 @11.25% rate of interest to be repaid 300 EMIs of Rs.2,99,472/- against the property bearing No.G-129, Block-G, Preet Vihar, Delhi. In case of default in payment of installment or interest in time, the defendants agreed to pay 2% penal interest for the delay to the applicant bank.

3. That in order to avail the said loan facility, the defendant no.1 and 2 submitted Loan Application and executed Loan Arrangement, Loan Agreement, Agreement to Mortgage and Affidavit on 31.03.2015 and 30.07.2016 with the applicant bank.

4. It has been submitted that in order to secure the home loan facility, the defendant no.1 & 2 created equitable mortgage of property bearing No.G-129, Block-G, Preet Vihar, Delhi on 31.03.2015 by way of deposit of title documents with applicant bank.

5. It has been submitted by the applicant bank that after availing the housing loan facility, the defendants failed to Sd/- comply with the terms and conditions and despite several requests and reminders, the defendants failed to pay monthly installments and interest in time. Ultimately, the account was classified as NPA on 30.03.2018 by the applicant bank and the applicant bank issued legal demand notice on 03.01.2020 to the defendants to pay the outstanding dues but neglected by 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 defendants and despite proper service, the defendants have chosen to absent from the proceedings. As per order dated 16.12.2025, the defendants have been proceeded ex-parte due to non filing of written statement, evidence and affidavit of assets before this Tribunal.

7. Notice under Section 13(2) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act 2002 dated 02.04.2018 was issued by the applicant bank and filed application under Section 14 of SARFAESI Act for possession thru Court Receiver which was passed vide order dated 06.07.2018. The Court Receiver issued advance possession notice for taking physical possession of property. The defendant no.1 filed SA No.153/2018 which was disposed of by Hon'ble DRT-II Delhi vide order dated 10.12.2018 directing applicant therein to deposit all the overdue amount plus regular installments within 30 days but defendants failed to do.

8. In order to prove its case, the applicant bank has filed its evidence by way of affidavit of Shri Ashok Kumar, authorized representative of the applicant bank who has proved the documents such as Gazette Notification, Original Loan *Sd-*

Application, Arrangement Letter, Agreement for Home Loan, Confirmation of Deposit of Title Deed for equitable mortgage, Copy of Sale Deed, Demand Notice u/s 13(2), Order of Ld.CMM Delhi, Order dated 10.12.2018 of Hon'ble DRT, Demand Notice, Postal Receipts, Statement of Account marked as Ex.AW-1/1 to Ex.AW-1/12.

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 unrebutted and there is no question of disbelieving the case of 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.

**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.3,05,92,889/- (Rupees Three Crore Five Lacs Ninety Two Thousand Eight Hundred Eighty Nine only) as on 17.01.2020 along with pendentelite and future interest @11.70% per annum with monthly rest from the date of filing of this application till its realization and costs failing which the aforesaid amount shall be recovered from the sale of mortgaged property bearing No.G-129, Block-G, Preet Vihar, Delhi. In case of default / shortfall, the same shall be recovered from the sale of movable and immovable properties of the defendants.

Scl-

(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 17.06.2026.

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

*Sd- co* *18.04.2026* **(GOVIND BÄLLABH SHARMA)** **PRESIDING OFFICER** **DRT-I, DELHI**

(Dictated and pronounced in open court) Dated: 18.04.2026