UNION BANK OF INDIA vs PRANOB DAS AND ORS on 31 August 2026

FINAL ORDER

This original application has been filed by the applicant bank on 29.01.2021 before DRT-III, Delhi and then transferred to DRT-I Delhi under Section 19 of Recovery of Debts and Bankruptcy Act, 1993 read with Rule 8 of the Debts Recovery Tribunal Rules 1993. against the defendants for recovery of a sum of Rs.71,12,904.42 (Rupees Seventy One lacs Twelve 5d '

thousand Nine hundred Four & paisa Forty Two only) as on 30.11.2020 along with pendentelite and future interest @11.65% per annum with monthly rest from 01.12.2020 till the date of its realization and costs.

2. The brief facts of the case are that on the request of defendant no.1 to 4 vide their loan application dated 20.05.2016, the applicant bank sanctioned housing loan facility for a sum of Rs.74,18,000/- (Rupees Seventy Four lacs Eighteen thousand only) on 28.06.2016 @9.65% interest per annum with monthly rests to be repaid in 264 EMIs of Rs.67,841/- in order to purchase under construction Flat No. C- 2401, 24th Floor, Tower C, Plot No.RC-1/2, area 1476 sq.ft in Habitat-9, Cloud 9, Sector-1, Vaishali, Ghaziabad, UP being developed and constructed by defendant no.5. In case of default in repayment of monthly instalments, the defendant no.1 to 4 agreed to pay @2% penal interest over the agreed rate of interest.

3. That in order to avail the said loan facility, the defendant no.1 to 4 submitted loan application along with Flat Buyers Agreement dated 12.04.2016 and executed Sanction Letter, Agreement for Term Loan, Letter of Undertaking and Declaration, Request for Disbursement Letter and Letter of Deposit of Title Deed on 04.07.2016 in favour of applicant bank.

4. That in order to secure the housing loan facility, the defendant no.1 & 2 created equitable mortgage of Flat No. C- 2401, 24th Floor, Tower C, Plot No.RC-1/2, area 1476 sq.ft in Habitat-9, Cloud 9, Sector-1, Vaishali, Ghaziabad, UP by executing Memorandum of Deposit of Title Deeds on 04.07.2016 towards the applicant bank and deposited Builder /

Buyer Agreement and Permission of Mortgage dated 29.06.2016 issued by defendant no.5.

5. The defendant no.1 to 4 executed Acknowledgement of Debt / Liability of Rs.67,41,881.97 as on 03.05.2019 towards the applicant bank on 14.05.2019.

6. As per Tripartite Agreement, as per allotment letter by defendants agreed subject to force majeure, the allottee making timely payment of sale consideration, extra charges registration charges and all other charges, the society shall endeavor to complete the construction of the apartment within 42 months plus minus 6 months from date of the allotment and handover the possession of the flat to the Allottee on completion of necessary formalities as may require but failed to do so. That in the event of borrowers failed to complete the sale transaction and registration, defendant no.5 undertakes to return the money received from the Applicant for flat in question within 90 days.

7. It has been submitted by the applicant bank that after availing the loan facility, the defendants failed to comply with the terms and conditions and despite several requests and reminders the defendants failed to pay the outstanding dues and monthly installments in time in time to the applicant bank. Ultimately, the applicant bank issued demand notice dated 16.01.2021 to the defendants to liquidate the dues but they failed to complete its obligations and neither raised the objections; hence the applicant bank has approached this Tribunal for recovery of their dues.

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 30.04.2026, the defendants have been proceeded ex-parte as they have not Sot 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 Atul Kumar Sharma, authorized representative of the applicant bank who has proved the documents such as Gazette Notification, Power of Attorney, Sanction Letter — CS! dated 28.06.2016, Agreement for Term Loan, Letter of Undertaking & Declaration, Request for Disbursement Letter, Memorandum of Deposit of Title Deed/Memorandum of Agreement / Letter of Deposit of Title Deeds, Acknowledgement of Debt, Flat Buyers Agreement, Noting of Lien, Permission to Mortgage, Tripartite Agreement, Demand Notice and Postal Receipts, Certified Statement of Account with Certificate as per Bankers Books of Evidence Act and Certificate of rate of interest charged marked as Ex.AW1/1 to Ex.AW1/13.

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, 5c1

a sum of Rs.71,12,904.42 (Rupees Seventy One lacs Twelve thousand Nine hundred Four & paisa Forty Two only) as on 30.11.2020 along with pendentelite and future interest @11.65% per annum with monthly rest from 01.12.2020 till the date of its realization and costs, failing which the aforesaid amount shall be recovered from the sale of the mortgaged Flat No. C-2401, 24th Floor, Tower C, Plot No.RC-1/2, area 1476 sq.ft in Habitat-9, Cloud 9, Sector-1, Vaishali, Ghaziabad, UP. In case of shortfall, the same shall be recovered from the sale of movable and immovable properties of the defendants. (I) The recovery certificate be issued forthwith and be sent the Recovery Officer, Debt Recovery Tribunal-I, Delhi. (II) Parties are directed to appear before Recovery Officer, DRT I, Delhi on 30.10.2026. (III) 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: 31.08.2026