PUNJAB NATIONAL BANK vs ANIL MITTAL AND ORS on 15 September 2026

**FINAL ORDER**

This original application has been filed by the applicant bank on 01.10.2021 before DRT-III Delhi and then transferred 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 a sum of Rs.47,28,650.90 (Rupees SD

Forty Seven lacs Twenty Eight thousand Six hundred Fifty & paisa Ninety only) as on 15.09.2021 along with pendentelite and future interest @contractual rate per annum with monthly rest from the date of this application till its realization and costs.

2. The brief facts of the case are that at the request of defendant no.1 and 2 vide its loan application along with KYC documents, allotment letter and Builder Buyer Agreement dated 24.11.2015, the applicant bank sanctioned housing loan facility of Rs.41,00,000/- (Rupees Forty One lacs only) on 02.06.2016 @9.45% interest per annum which was to be repayable in 275 EMIs of Rs.36,511/- in order to purchase under construction residential Flat/house no.B-1206, Plot No.2B/GH-04, Vihaan Heights, Vrindavan Yojana, Rae Bareilly Road, Lucknow admeasuring 139.35 sq.metres being developed by defendant no.3. in case of default in repayment of instalments, the defendant no.1 and 2 agreed to pay @2% penal interest over the agreed rate of interest.

3. That in order to avail the housing loan facility, the defendant no.1 submitted housing loan application along with KYC documents and executed Sanction Letter with Terms & Conditions, Power of Attorney, Agreement for Housing Loan, Disbursal request, Agreement of Guarantee on 02.06.2016. The defendants executed Tripartite Agreement dated 02.06.2016 with the applicant bank.

4. In order to secure the housing loan facility, the applicant bank created equitable mortgage of Flat/house no.B-1206, Plot No.2B/GH-04, Vihaan Heights, Vrindavan Yojana, Rae Bareilly Road, Lucknow admeasuring 139.35 sq.metres on the basis of Sd- allotment letter, builder buyer agreement and permission of defendant no.3 dated 24.11.2015 towards the applicant bank.

5. It has been submitted by the applicant bank that after availing the housing loan facility, the defendants failed to comply with the terms and conditions of sanction despite notice nor repaid interest/installment to the applicant bank. Ultimately, the applicant bank declared the account as NPA on 08.01.2019 as per RBI guidelines and issued notice to the defendants but no response, hence the applicant bank has approached this Tribunal for recovery of their dues.

6. Notices under Section 13(2) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act 2002 was issued on 12.03.2019 to the defendants by the applicant bank to liquidate the dues but defendants neglected.

7. Notices of this O.A. were issued to the defendants and despite of proper service the defendants have chosen to absent from the proceedings. As per order dated 29.08.2022, the defendants have been proceeded ex-parte as not appeared before the Tribunal and even no written statement, evidence and affidavit of assets has been filed by the defendants.

8. In order to prove its case, the applicant bank has filed its evidence by way of affidavit of Sh.Surendra Singh, authorized representative of the applicant bank who has proved the documents such as Power of Attorney Ex.PW-1/1, Loan Application with KYC documents Ex.PW-1/2(Colly), Sanction Letter Ex.PW-1/3, Acceptance of Terms & Conditions Ex.PW-1/4, Agreement for Housing Loan Ex.PW-1/5, Tripartite Agreement Ex.PW-1/6, Power of Attorney Ex.PW-1/7, Sd- Agreement of Guarantee Ex.PW-1/8, Permission letter for Creating Security Interest Ex.PW-1/9, Notice u/s 13(2) of SARFAESI Act Ex.PW-1/10, Postal Receipts Ex.PW-1/11, Statement of Account along with Certificate u/s 65-B of Indian Evidence Act and Section 2(b) of Bankers Book Evidence Act Ex.PW-1/12.

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 unrebuted 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.47,28,650.90 (Rupees Forty Seven lacs Twenty Eight thousand Six hundred Fifty & paisa Ninety only) as on 15.09.2021 along with pendentelite and future interest @9.45% per annum from 16.09.2021 till the date of its realization, failing which the aforesaid amount shall be recovered from the sale of mortgaged Flat/house no.B-1206, Plot No.2B/GH-04, Vihaan Heights, Vrindavan Yojana, Rae Bareilly Road, Lucknow admeasuring 139.35 sq.metres. In Sd-Lc case of shortfall, the same shall be recovered from the sale of moveable and immovable property 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 13.11.2026.

(IV) Copies of final order as well as Recovery Certificate be sent to all concerned free of cost.

*e sd-* **(GOVIND BALLABH SHARMA)** **PRESIDING OFFICER** **DRT-I, DELHI**

(Dictated and pronounced in open court) Dated: 15.09.2026