UNION BANK OF INDIA (E-CORPORATION BANK) vs SH. VINAY SHARMA on 15 September 2026

FINAL ORDER

This original application has been filed by the applicant bank, on 21.03.2018 through Mr. Tiwari Ajay Kumar Deepak, Chief Manager of the applicant ban( under Section 19 of the RDB Act, 1993 against the defendants for recovery of a sum of Rs.17,61,7751- along with @12.20o/o p.a. compounded with monthly rest and defendant no.2 is liable for only Rs.11,53,466/- along with future interest as clained to the applicant bank with cost, pendentelite and future interest from date of filing of this O.A. till the realization in full.

2. The brief facts of the case are that at the request of defendant no.l, the applicant bank sanctioned a Vehicle Loan facility of Rs.5.75 Lacs for purchase a Brand- New Vehicle, vide sarrction letter dated 26.02.2013.The defendant no.1 executed all necessry loaning documents on 01.03.2013. Again, at the request of eli +<:- -,- --

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TANO. 598 of 2024 2 defendant no.l, the applicant bank sanctioned a Vehicle Loan facility of Rs.8.70 Lacs for purchase a Brand- New Honda City SVMT bearing Registration No. UP 16 AV 8009, vide sanction letter dated 3L.07.20L4. The defendant no.1 executed all necessary loaning documents on 31.07.2014. Again, at the request of defendant no.1 along with defendant no.2, the applicant bank sanctioned a Vehicle Loan Facility of Rs.12.22 Lacs for purchase of Brand-New Honda City CVT MET PET bearing Registration No. Up L6 BD 47LL, vide sanction letter dated 30.12.2015. The defendant no.1 executed all necessary loaning documents on 30.12.2015. The aforesaid credit facilities were also secured by hypothecation of aforesaid vehicles.

3. It is further submitted that the defendants enjoyed and utilized the Loan facilities, but failed to maintain the financial discipline and failed to repay the due amounts. The applicant bank requested the defendants to regularize the loan account by visits and letters, but there was no response from the defendants. The applicant bank served a demand notice dated t7.05.2017 to the defendants but failed to recover the same Thus, the present O.A.ff.A. is preferred by the applicant bank to recover its dues.

4. On notice by this Tribunal, defendants failed to put appearance at all, despite publication. Accordingly, the defendants were proceeded against expafte dated L2.05;,.2023.

5. The applicant bank has filed evidence by way of affidavit of Mr. Vishnu Shankar, Chief Manager of the applicant bank as Paper No.23 to Paper No.203, which si\\

TANO.598of2024 3 have gone unchallenged and un-rebutted. Hence, the case of the applicant stands fully established against the defendants with respect to nonpayment of outstanding amount.

6. After perusing the records, this Tribunal is of the view that the applicant bank has proved its case beyond reasonable doubts. The evidence and documents filed by the applicant bank not rebutted by the defendants by not placing any evidence and there is no question of disbelieving the evidence and documents filed by the applicant bank based upon the written/printed documents. In the light of the above discussions, the present T.A. deserves to be allowed.

ORDER

1) I hereby allow this T.A. of the applicant bank and direct the defendant no.l to pay to the applicant bank within 30 days from today, a sum of Rs.6,08,309/- (Rs.1,50,019/- in CVEHI-130004 + Rs.4,58,290/- in CVEHI-140005 along with cost, expenses and interest @10.75olo from the date of filing of this O.A. which has become T.A till the date of realization.

2) The defendant nos.l and 2 are directed to pay jointly and severally to the applicant bank within 30 days from today, a sum of Rs.11,53,4661- in CVEHI-150019 along with cost, expenses and interest @10.75olo from the date of filing of this O.A. which has become T.A till the date of realization ;--:

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3) In case of failure to deposit the above amount within the stipulated period, the same shall be recovered from the sale of hypothecated vehicles i.e., Brand-New Honda City SVMT bearing Registration No. UP 16 AV 8009 and Brand-New Honda City CVT MET PET bearing Registration No. Up 16 BD 47LL.In case of short fall, the same shall be recovered from the sale of personal movable and immovable assets of the defendant nos.1 and 2.

4) Recovery Certificate be issued forthwith and be sent to Recovery Officer, Debts Recovery Tribunal-Il, Delhi.

5) The registry of this Tribunal is hereby directed to issue free copy of the order and send the same to both the parties.

6) Pafties are directed to appear before the Ld. Recovery Officer, DRT-II, Delhi on L6.L7.2026. Pending IAs, if any, stand disposed of. File be consigned to records. , S.Jr-' (susHrl KUrvrAR nesrbcr) PRESIDING OFFICER DRT-II, Delhi This judgement has been signed, dated and pronounced in open court. gr\ (SUSHIL KUMAR RASTOGI) PRESIDING OFFICER DRT-II, Delhi Date : 15.09.2026 Date : 15.09.2026