UNION BANK OF INDIA vs RAJENDRA KUMAR on 27 April 2026

FINAL ORDER

This original application has been filed by the applicant bank on before DRT-III, Delhi on 12.09.2018 and then s'd - transferred to DRT-I Delhi under Section 19 of Recovery of Debts and Bankruptcy Act, 1993 against the defendants for recovery of Rs.35,77,060/- (Rupees Thirty Five Lacs Seventy Seven Thousand and Sixty only) as on 01.09.2018 along with pendentelite and future interest @9.65% per annum with monthly rests from date of filing of this application till the date of its realization and costs.

2. The brief facts of the case are that on the request of the defendant no.1 & 2, the applicant bank sanctioned housing loan facility for a sum of Rs.32,73,000/- on 12.02.2016, under Corp Home scheme @9.65% floating rate of interest per annum, which was to be repayable in 22 Equated Monthly Installments of Rs.47,600/- in order to purchase under construction Flat No.3134, 13th Floor, Tower-3, area measuring 1019 sq.ft. in the project named "White House" situated at Group Housing Plot No.8, Sector-PI, Greater Noida, G.B.Nagar UP to be constructed and developed by defendant no.3.

3. That in order to avail the housing loan facility, the defendants executed Agreement for Term Loan, Letter from the borrower deposing title deed, Undertaking, Affidavit, Encumbrance Free Declaration, Irrevocable General Power of Attorney, Permission to create Equitable Mortgage, Letter of Confirmation from the builder/promoter Noted the Banks' charge/lien, Memorandum of Deposit of Title Deed and Allotment of Residential Apartment letter with the applicant bank on 02.03.2016. The defendant no.3 executed Tripartite Agreement dated 23.02.2016 with defendant no.1, 2 and applicant bank.

4. That in order to secure the housing loan facility, the defendants created equitable mortgage of the flat bearing No.3134, 13th floor, Tower 3, measuring super area 1019 sq. ft. in the housing project named 'WHITE HOUSE', at Plot no.08, Sector PI, Greater Noida, District Gautam Budh Nagar, UP in favour of the applicant bank.

5. It has been submitted by the applicant bank that after availing the housing loan facility, the defendant no.1 & 2 failed to maintain financial discipline and comply with the terms and conditions of loan despite several requests and reminders and defaulted in payment of monthly installments in time to the applicant bank. Ultimately, the applicant bank classified the account as NPA on 31.12.2017 and issued legal demand notice on 04.07.2018 to the defendants to clear the dues or cancel the booking of flat by defendant no.3 and refund the amount but defendants neglected to return the amounts as per agreements, 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 13.02.2020, 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. In order to prove its case, the applicant bank has submitted various documents to prove its case such as Power of Attorney, Sanction Letter, Loan Documents, Tripartite Agreement, Letter of Request for Disbursement of Loan, Legal Notice and Statement of Account marked as Annexure Al to A7 from Page no.1 to 65. 5C(

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 proved.

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, jointly or severally, within a period of 30 days, a sum of Rs.35,77,060/- (Rupees Thirty Five Lacs Seventy Seven Thousand Sixty only) as on 01.09.2018 along with pendentelite and future interest @9.65% per annum with monthly rests from the date of filing this application till its realization with costs, failing which the aforesaid amount shall be recovered from the sale of mortgaged flat bearing No.3134, 13th Floor, Tower 3, measuring 1019 sq. ft., 'WHITE HOUSE' situated Plot no.08, Sector PI, Greater Noida, District- G.B.Nagar, UP. 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. sdr A

(III) Parties are directed to appear before Recovery Officer, DRT I, Delhi on 29.06.2026. (IV) Copies of final order as well as Recovery Certificate be sent to all concerned free of cost. Sd— (GOVIND BALBE LJARMA) PRESIDING OFFICER DRT-I, DELHI (Dictated and pronounced in open court) Dated: 27.04.2026