STATE BANK OF INDIA vs LALITA on 20 December 2025

FINAL ORDER

This original application has been filed by the applicant bank on 03.11.2022 before DRT-III Delhi and then transferred to DRT-I Delhi under Section 19 of Recovery of Debts and Bankruptcy Act, 1993 against the defendants for recovery of a sum of Rs.25,17,948/- (Rupees Twenty Five Lacs Seventeen Thousand Nine Hundred Forty Eight only) as on 04.10.2022 together with pendentelite and future interest @10.00% per annum with monthly rests from 05.10.2022 till the date of its realization and costs.

2. The brief facts of the case are that on the request of defendant no.1 and 2, the applicant bank sanctioned Housing Loan of Rs.26,00,000/- (Rupees Twenty Six Lacs only) on 16.02.2019 to be repayable in Equated Monthly Installment of Rs.27,712/- @8.85% interest per annum with monthly rests subject to change as per bank's guidelines in order to purchase residential property bearing no.19/46, New No.19/106, Old Nagar Palika, Gali No.3, Gambhirpura, Krishnapuri Road, Aligarh, Uttar Pradesh. The defendant no.1 also agreed to pay penal interest @2% in case of default or delay in repayment schedule. The defendant no.1 and 2a informed about death of Sh.Rajesh Kumar and now his legal heirs have been impleaded in the application.

3. That in order to avail the housing loan facility, the defendant no.1 & 2 (now deceased) submitted Loan Application dated 07.01.2019 and executed Arrangement Letter with Terms and Conditions, Memorandum of Loan Agreement, Agreement to Mortgage, Declaration, Letter of Consent & Declaration regarding disclosure of Information and data by the borrower, Control Car: Home Loan and Affidavit with the applicant bank 16.02.2019.

4. That in order to secure the loan facility, the defendant no.1 & 2 purchased the residential property bearing no.19/46, New No.19/106, Old Nagar Palika, Gali No.3, Gambhirpura, Krishnapuri Road, Aligarh, Uttar Pradesh in the name of defendant no.1 who created mortgage by depositing the Original Sale Deed dated 21.02.2019 executed by Sh.Kailash Chandra Sharma fvg. defendant no.1 on 25.02.2019 with the applicant bank.

5. It has been submitted by the applicant bank that after availing the housing loan facility, the defendant no.1 failed to maintain financial discipline and comply with the terms and conditions of loan despite several requests and reminders and defaulted in payment of monthly installments in time to the applicant bank. The applicant bank classified the account as NPA on 13.07.2021 as per RBI guidelines due to irregular repayment of installments and issued legal notice dated 16.09.2022 to the defendants to clear the dues but failed to do so. Hence, the applicant bank has approached this Tribunal for recovery of their dues.

6. The defendant no.1 acknowledged her liability promising to regularize the account shortly on 06.04.2022 & 27.05.2022.

7. 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 25.07.2025, 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. sd-

8. Notices under Section 13(2) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act 2002 was issued on 22.02.2022 by the applicant bank to the defendants and possession notice u/s 13(4) on 21.05.2022 to liquidate the liability but they failed to clear the dues.

9. In order to prove its case, the applicant bank has filed its evidence by way of affidavit of Shri Dheeraj Kumar, authorized representative of the applicant bank who has proved the documents such as Gazette Notification, Loan Application, Sanction Letter, Arrangement Letter, Memorandum of Loan Agreement, Agreement to Mortgage, Declaration, Letter of Consent & Declaration, Control Card: Home Loan, Affidavit, Memorandum of Deposit, Recital of Deposit of Title Deed, Original Sale Deed, Demand Notice u/s 13(2), Request Letter of Defendant no.1, Possession Notice u/s 13(4), Legal Notice, Certified Statement of Account, Closure Statement of Summery of Outstanding marked as Ex.AW1/1 to Ex.AW1/21.

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. 5d-

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.25,17,948/- (Rupees Twenty Five Lacs Seventeen Thousand Nine Hundred Forty Eight only) as on 04.10.2022 along with pendentelite and future interest @10.00% per annum with monthly rests from 05.10.2022 till its realization with costs, failing which, the amount shall be realized from sale of mortgaged residential property bearing no.19/46, New No.19/106, Old Nagar Palika, Gali No.3, Gambhirpura, Krishnapuri Road, Aligarh, Uttar Pradesh. 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 Recovery Officer, DRT I, Delhi on 18.02.2026. (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: 20.12.2025