UNION BANK OF INDIA vs ANKUR SHRIVASTAVA on 5 June 2026

FINAL ORDER

This original application has been filed by the applicant bank on 31.10.2018 before DRT-III, Delhi and then transferred to DRT-I, Delhi under Section 19 of Recovery of Debts Due to Sd

Banks and Financial Institutions Act, 1993 against the defendants for recovery of a sum of Rs.38,70,882/- (Rupees Thirty Eight Lacs Seventy Thousand Eight Hundred Eight two only) as on 15.10.2018, @9.65% interest per annum with monthly rests from 15.10.2018 till the date of realization and costs. Further, the name of Sh.Manjeet Singh was substituted as authorized representative in place of erstwhile AR for the applicant bank.

2. The brief facts of the case are that on the request of defendant no.1 and 2 vide their housing loan application dated 18.03.2016 with allotment letter dated 17.03.2016 and KYC documents, the applicant bank sanctioned Housing Loan facility of Rs.38,75,000/- (Rupees Thirty Eight Lacs Seventy Five Thousand only) @9.65% interest per annum on 09.06.2016 to be repayable in 320 EMIs of Rs.33,764/- for purchasing under construction Unit No.D-1604, 16th Floor, Block D, Newtech La Palacia, Plot no.GH-09A, Tech Zone-IV, Greater Noida (West), UP, measuring 1165 sq.ft. In case of default in repayment of interest or installments, the defendant agreed to pay @2% penal interest to the applicant bank.

3. That in order to avail the housing loan facility, the defendant no.1 & 2 submitted loan application dated 18.03.2016, Allotment Letter dated 17.03.2016 with relevant documents and executed Agreement for Term Loan, Letter of Undertaking / Declaration, General Power of Attorney, Irrevocable General Power of Attorney, Affidavit, Letter of Authority, Form App-59, Request for Disbursement of Loan Form App-116, Encumbrance Free Declaration Form App-116, Noting of Lien Letter, Permission to Mortgage on 16.06.2016 Sd—

and Tripartite Agreement 11.06.2016 in favour of applicant bank.

4. That in order to secure the housing loan facility, the defendant No.1 created mortgage of Unit No.D-1604, 16th Floor, Block D, Newtech La Palacia, Plot no.GH-09A, Tech Zone-IV, Greater Noida (West), UP, measuring 1165 sq.ft with the applicant bank by executing Memorandum of Deposit of Title Deeds (Form ID 12010) on 16.06.2016 in favour of applicant bank.

5. The defendant no.3 entered into Tripartite Agreement with defendant no.1 and bank, agreeing to complete the project and handover the possession of the flat within 36 months plus minus 6 months and in case of delay, will pay Rs.51- square feet to the defendant no.1 for delayed period. Further, Further, defendant no.3 agreed not to deliver the possession or cancel the booking and in case project is shelved or non-completion for any reason, shall pay the entire amount received on behalf of defendant no.1 to the applicant bank.

6. It has been submitted by the applicant banks that after availing the housing loan facility, the defendants miserably failed and neglected to pay the interest and installments in the accounts and maintain financial discipline as per terms and conditions despite various notices and reminders. The applicant bank issued recall notice on 05.04.2018 to clear the overdue amount and due to no response, classified the account as NPA on 30.06.2018 and hence the applicant bank approached this Tribunal for recovery of its dues.

7. Notices of this O.A. were issued to the defendants and despite of proper service, the defendants have chosen to sa absent from the proceedings. As per order dated 13.01.2020, the defendants have been proceeded ex-parte as not appeared before the Tribunal and even no written statement, evidence and affidavit of assets have been filed by the defendants.

8. In order to prove its case, the applicant bank has filed its evidence by way of affidavit of Shri Manjeet Singh, authorized representative of the applicant bank who have proved the documents as Authority Letter, Home Application cum Appraisal, Credit Sanction Intimation, Memorandum of Deposit of Title Deeds, Undertaking Letter, Letter of Undertaking/ Declaration, Allotment Letter, Noting of Bank's Lien, Permission to Mortgage, Tripartite Agreement, Recall Notice, Affidavit cum Undertaking, General Power of Attorney, Affidavit, Irrevocable General Power of Attorney, Encumbrance Free Declaration, Request for Disbursement, Statement of Account, Certificate under Bankers' Book Evidence Act, Certificate of Officer of Computer System marked as Exhibit AW-1/1 to Exhibit AW- 1/21.

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 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, jointly or severally, within a period of 30 days, a sum of Rs.38,70,882/- (Rupees Thirty Eight Lacs Seventy Thousand Eight Hundred Eight two only) as on 15.10.2018 @11.65% interest per annum with monthly rests from 15.10.2018 till the date of realization and costs, failing which the aforesaid amount shall be recovered from sale of mortgaged Unit No.D-1604, 16th Floor, Block D, Newtech La Palacia, Plot no.GH-09A, Tech Zone-IV, Greater Noida (West), UP, measuring 1165 sq.ft. In case of shortfall, the same shall be recovered from 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 04.08.2026. (IV) Copies of final order as well as Recovery Certificate are to be sent to all concerned free of cost. Lo "1-6 (GOVIND BALLABH 5HAIIMA) PRESIDING OFFICER DRT-I, DELHI (Dictated and pronounced in open court) Dated: 05.06.2026