STATE BANK OF INDIA vs MRS. LALITA on 23 December 2025

FINAL ORDER

This original application has been filed by the applicant bank on 15.11.2021 before DRT-II 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.32,79,567.00 (Rupees Thirty Two Lacs Seventy Nine Thousand Five Hundred Sixty Seven only) as on 12.10.2021 together with pendentelite and future interest @7.50% per annum with monthly rest plus penal interest @2% p.a. from the date of filing of this O.A. till the date of realization along with costs.

2. The brief facts of the case are that on the request of defendant No.1, the applicant bank sanctioned Housing Loan facility for a sum of Rs.31,20,000/- and SBI Life Insurance Premium Loan of Rs.1,09,049/- @8.75% rate of interest per annum on 05.12.2018 to be repayable in 300 monthly installments of Rs.25,651/- and Rs.900/- for purchasing the under construction Flat No.C-1001, 10th Floor, Tower C, HFL- Presidency Estate, 7th KM, Sector-56, Village Bandirpur, Bhiwadi-Alwar Mega Highway, Bhiwadi, Rajasthan being developed and constructed by defendant no.2. In case of delay or default in repayment of interest and installment, the defendant agreed to pay @2% penal interest.

3. That in order to avail the housing loan facility, the defendant no.1 submitted loan application and executed Loan Arrangement Letter, Loan Agreement, Agreement to Mortgage, Permission to Mortgage, Tripartite Agreement and Agreement for Additional Loan dated 05.12.2018.

4. As per Tripartite Agreement dated 05.12.2018, Defendant no.2 issued No Objection for mortgaging said flat by marking lien and in case of default by defendants no.1, the applicant bank have right to cancel the booking and defendant no.2 shall refund the entire money so received by it from defendant no.1 to the applicant bank.

5. It has been submitted by the applicant bank that in order to secure the housing loan facilities, the defendant no.1 created mortgage of Flat No.C-1001, 10th Floor, Tower C, HFL-Presidency Estate, 7th KM, Sector-56, Village Bandirpur, Bhiwadi-Alwar Mega Highway, Bhiwadi, Rajasthan as per permission to mortgage issued by defendant no.2 in favour of applicant bank.

6. It has been submitted by the applicant bank that after availing the aforesaid loan facilities, 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 to the applicant bank. Ultimately, the account was declared NPA on 27.09.2017 by the applicant bank and issued legal notice dated 15.10.2021 but defendants neglected to clear the overdue amount / cancel the booking and return the money, hence the applicant bank has approached this Tribunal for recovery of its dues.

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 04.10.2024, the defendants have been proceeded ex-parte as they have not appeared before the Tribunal and even no written statement, evidence and affidavit of assets have been filed on behalf of the defendants.

8. In order to prove its case, the applicant bank has filed its evidence by way of affidavit of Shri Sharat Jain, authorized representative of the applicant bank who has proved the documents such as Gazette Notification, Housing Loan Application, Resolution Loan Arrangement Letter, Agreement for Home Loan, Request Letter for Additional Loan, Approval

& Original Agreement for Additional Loan, Agreement to Mortgage, Affidavit, Permission to Mortgage, Demand Letter, Allotment Letter, Agreement to Sale, Tripartite Agreement, Demand Notice, Postal Receipts, Legal Demand Notice, Postal Receipts, Statement of Account marked as Ex.PW-1/1 to Ex.PW-1/19(Colly).

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 has proved its case beyond reasonable doubts

10. 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, jointly or severally, to the applicant bank within a period of 30 days, a sum of Rs.32,79,567.00 (Rupees Thirty Two Lacs Seventy Nine Thousand Five Hundred Sixty Seven only) as on 12.10.2021 along with pendentelite and future interest @9.50% per annum with monthly rest from 12.10.2021 till the date of realization and costs, failing which the aforesaid amount shall be recovered from the sale of mortgaged Flat No.C-1001, 10th Floor, Tower C, HFL-Presidency Estate, 7th KM, Sector-56, Village Bandirpur, Bhiwadi-Alwar Mega Highway, Bhiwadi, Rajasthan. 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. (Ill) Parties are directed to appear before the Recovery Officer, DRT I, Delhi on 20.02.2026. (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: 23.12.2025