UCO BANK vs KRISHNA KUMAR SINGH AND ORS on 18 July 2026

FINAL ORDER

This original application has been filed by the applicant bank on 28.02.2019 under section 19 of Recovery of Debts Due to Banks and Financial Institutions Act, 1993 against the defendants for recovery of a sum of Rs.36,17,374/- (Rupees Thirty Six Lacs Seventeen Thousand Three Hundred Seventy Four only) as on 01.02.2019 along with pendentelite and future interest @10.20% per annum with monthly rest and costs from the date of filing of this O.A. till the date of realization.

2. The brief facts of the case are that at the request of defendant no.1 and 2 being co-applicants vide their housing loan application dated 19.11.2014 along with Allotment Letter/ Builder-Buyer Agreement, the applicant bank sanctioned housing loan of Rs.37,82,000/- @10.20% interest per annum to be repayable in 240 EMIs of Rs.37,000/- on 12.12.2014 in order to purchase under construction Flat No.501, Tower C, Fifth Floor, Project Bulland Elevates, Plot No.GH-3A, Sector- 16C, Greater Noida, UP admeasuring 1295 sq.ft. being developed and constructed by defendant no.3 as guarantor under UCO Shelter Loan Scheme. In case of delay in repayment of instalments, the defendant nio.1 and 2 agreed to pay penal interest @2% on overdue amount for period of delay.

3. That in order to avail the housing loan facility, the defendant no.1 & 2 submitted loan application with Allotment Letter dated 15.10.2014 issued by defendant no.3 and executed Form A-2, Form A-47, Letter of Undertaking and Indemnity, Affidavit cum Undertaking agreeing to deposit sale deed (AHL-20) and Permission to Mortgage by defendant no.3, Tripartite Agreement with applicant bank on 12.12.2014.

4. That in order to secure the loan facility, the defendants with intention to create equitable mortgage of flat being purchased deposited original allotment letter, tripartite agreement along with Schedule-I and permission to mortgage issued by defendant no.3 in respect of Flat No.501, Tower C, Fifth Floor, Project Bulland Elevates, Plot No.GH-3A, Sector-

16C, Greater Noida, UP admeasuring 1295 sq.ft. on 12.12.2014

5. As per Tripartite Agreement dated 12.12.2014, defendant No.3 undertook to get registration / title documents of the flat and marked lien on the flat and deposit with applicant bank and agreed to indemnity the losses, if any, caused by the defendant no.1 and 2.

6. It has been submitted by the applicant bank that after availing the credit facility, the defendants failed to comply with the terms and conditions of sanction despite several requests and reminders and pay the monthly installments in time to the applicant bank. The applicant bank classified the account as NPA on 31.05.2018 with outstanding of Rs.33,91,033/- due from the defendants. The defendants neglected to clear the overdue interest and instalments in the accounts after account became NPA, hence the applicant bank has approached this tribunal for recovery of its dues.

7. Notice under Section 13(2) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act 2002 dated 01.08.2018 was issued by the applicant bank to the defendant no.1 and 2 to clear the overdue and recall notice dated 06.08.2008 for regularization of the account but no response from the defendants.

8. 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 12.12.2024, the 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.

9. In order to prove its case, the applicant bank has filed its evidence by way of affidavit of Shri Sanjay Kumar Singh, authorized representative of the applicant bank who has proved the documents such as Power of Attorney, Loan Application, Terms & Conditions with Sanction Letter, Form A- 47, Form A-2, Loan Agreement, Affidavit cum Undertaking for deposit of Title Deed (AHL-20), Letter of Undertaking & Indemnity (AHL-14), Tripartite Agreement, Allotment Letter, Permission to Mortgage, Certified Statement of Account along with details of Notional Interest, Sarfaesi Notice marked as Ex.AW-1/1 Ex.AW-1/13.

10. 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.

11. 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.

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

ORDER

I, allow this OA and direct the defendants, jointly or severally, pay to the applicant bank within a period of 30 days, a sum of Rs.36,17,374/- (Rupees Thirty Six Lacs Seventeen Thousand Three Hundred Seventy Four only) as on 01.02.2019 along with pendentelite and future interest @10.20% per annum with monthly rest from the date of filing of this O.A. till the date of realization and costs, failing which Cd- the aforesaid amount shall be recovered from the sale of mortgaged Flat No.501, Tower C, Fifth Floor, Project Bulland Elevates, Plot No.GH-3A, Sector-16C, Greater Noida, UP admeasuring 1295 sq.ft. 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 17.09.2026. (IV) Copies of final order as well as Recovery Certificate be sent to all concerned free of cost.

(GOVIND BALLABH SHARMA) PRESIDING OFFICER DRT-I, DELHI (Dictated and pronounced in open court) Dated: 18.07.2026