PUNJAB AND SIND BANK vs Neha Sharma and Others on 22 May 2026

FINAL ORDER

This original application has been filed by the applicant bank on 21.08.2013 before DRT-II Delhi and then transferred 5ce—

to DRT-I Delhi under Section 19 of Recovery of Debts Due to Banks and Financial Institutions Act, 1993 against the defendants for recovery of Rs.23,33,931.74 (Rupees Twenty Three Lacs Thirty Three Thousand Nine Hundred Thirty One and paisa Seventy Four only) as on 31.07.2013 along with pendentelite and future interest @10.50% p.a from 01.08.2013 till the date of its realization and costs. Further, name of Sh.Ramesh Kumar was substituted in place of Shri Narender Sethi as authorized representative for the applicant bank.

2. The brief facts of the case are that on the request of the defendant no.1 and 2 vide their loan application, the applicant bank sanctioned Housing Loan facility for a sum of Rs.19,30,000/- (Rupees Nineteen lacs Thirty Thousand only) on 23.08.2010 @10.50% rate of interest per annum to be repayable in 15 years for purchase of residential property bearing Entire Second Floor without roof rights, forming part of freehold Property No.97, Pocket-6, Sector-21, Rohini, Delhi- 110085. The defendant no.3 and 4 stood as guarantors for the housing loan sanctioned in favour of defendant no.1 and 2 by the applicant bank.

3. That in order to avail the housing loan facility, the defendant no.1 and 2 submitted housing loan application and executed Demand Promissory Note, Letter of Instalment in Form 103, Letter of Waiver Form No.106, Letter to pay Penal interest, Letter showing purpose of loan as purchase of house Form No.412 on 23.08.2010 towards applicant bank. The defendant no.3 and 4 executed Deeds of Guarantee in Form No.256 Revised as Continuing Guarantee towards the applicant bank guaranteeing the housing loan sanctioned in favour of defendant no.1 and 2. The defendants also executed

Undertaking on Form No.199 and Certificate of execution of Documents on 23.08.2010.

4. That in order to secure the housing loan facility, defendant no.1 purchased the property and created mortgage by depositing original title deeds of property i.e Entire Second Floor without roof rights, part of freehold property no.97, Pocket-6, Sector-21, Rohini, Delhi by executing Form 84A in favour of applicant bank on 26.08.2010.

5. It has been submitted by the applicant bank that after availing the housing loan facility, the defendant no.1 and 2 failed to comply with the terms and conditions of sanction and failed to deposit interest and instalments in the account in order regularize the account. The applicant bank classified the account as NPA on 30.09.2012 as per RBI guidelines but the defendants neglected, hence 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 19.01.2026, the defendants have been proceeded ex-parte as they have not appeared before the Tribunal and even written statement, evidence and affidavit of assets have not been filed.

7. Notice under Section 13(2) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act 2002 dated 02.11.2012 was issued upon defendants to liquidate the outstanding but no response. The applicant filed issued notice u/s 13(4) and published on sd-

16.05.2013 and filed application u/s 14(2) before Ld.CMM Delhi for taking physical possession of the mortgaged property. Later on, it came to the notice that aforesaid property has been mortgaged with Oriental Bank of Commerce, Rani Bagh branch which put the property on sale on 22.032013 after taking the possession but no bid received. The applicant bank filed SA No.205/2013 before Hon'ble DRT-III Delhi challenging the action taken by said bank which is pending adjudication.

8. In order to prove its case, the applicant bank has filed its evidence by way of affidavit of Shri Ramesh Kumar Khichi, authorized representative of the applicant bank who has proved the documents such as General Power of Attorney, Sanction Letter, Demand Promissory Note, Letter of Instalment, Letter of Waiver, Letter to pay Penal Interest, Letter of Purpose of Loan, Guarantee Agreement, Undertaking, Debit Voucher, Certificate of Execution of Documents, Conveyance Deed, Copy of Sale Deed in favour Smt.Kiran Sharma from Smt.Meera Devi, Copy of Sale Deed in favour of Smt.Neha Sharma by Smt.Kiran Sharma, Letter of Deposit of Title Deeds (Form 84A), Notice u/s 13(2), Possession Notice dated 24.04.2013, Publication issued under Section 13(4), Statement of Account including statement u/s 2A of Bankers' Books Evidence Act marked as Ex.PW-1/1 to Ex.AW- 1/19(Colly).

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 approved.

10. 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.

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.23,33,931.74 (Rupees Twenty Three Lacs Thirty Three Thousand Nine Hundred Thirty One and paisa Seventy Four only) as on 31.07.2013 together with pendentelite and future interest @10.50% per annum with monthly rests from 01.08.2013 till the date of its realization and costs; failing which the amount shall be recovered from sale of mortgaged property bearing Entire Second Floor without roof rights, forming part of freehold Property No.97, Pocket-6, Sector-21, Rohini, Delhi- 110085. 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. (III) Parties are directed to appear before the Recovery Officer, DRT I, Delhi on 21.07.2026. (IV) Copies of final order as well as Recovery Certificate be sent to all concerned free of cost. -271)-4 (GOVIND BALLABEFSHARMA) PRESIDING OFFICER DRT-I, DELHI (Dictated and pronounced in open court) Dated: 22.05.2026