CANARA BANK vs Shri Sidhartha Chandra on 21 May 2025

FINAL ORDER

This original application has been fited by the applicant bank, on LZ042OLZ through Sh' Ashok Kumar Arora, Manager of the applicant bank' under SectionlgoftheRDBAct,lgg3againstthedefendants for recovery of a sum of Rs'10'19'705/- together with cost, charges and pendentellite and future interest @15.75olo p.a. from date of flting of this O'A' till the realization in full'

2. The brief facts of the case are that at the request of defendant nos'l & 2, the applicant bank sanctioned a Term Loan in the nature of Car Loan of Rs'18 Lakhs for purchasing SKODA SUPERB ELEGANCE Car' bearing Registration No' DL4CAV3309' vide enction letter dated 23'04'2009' The defendant no'2 stood as guarantor. The defendant nos' 1 & 2 also agreed to secure the sum advanced- by hypothecating the eA

necessary loaning documents on 23'04'2009'

3. It is fufther submitted that the defendants enjoyed and utilized the Loan facility' but failed to maintain the financial discipline and failed to repay the due amounts. The applicant bank requested the defendantstoregularizetheloanaccountbyvisitsand lefters, but there was no response from the defendants, hence the account was classified as NPA on30.0s.20l0.Therefore,theapplicantbankserveda notice dated 16.01'2012 to the defendants demanding theamountdueasonthatdate,butfailedtorecover the same. Thus, the present O'M[A is preferred by the applicant bank to recover its dues'

4. On notice by this Tribunal' the defendants put appearance through counsel and flled WS but faited to file any evidence in support of their WS' TANO. 156112023 aforesaid Car'

The defendants executed alt

5. On the other hand, the applicant bank has filed its evidence by way of affidavit of Sh' Sanjay Popli' Manager ofthe applicant bank as Paper No' 1to Paper No.55 which have gone unchallenged and un-rebutted' Hence, the case of the applicant bank stands fully established against the defendants with respect to non- payment of EMI/ outstanding amount'

6. After perusing the records' this Tribunal is of the view that the applicant bank has proved its case beyond reasonable doubB' The documents and evidence filed by the applicant bank not rebutted by e^

documents. Inthelightoftheabovediscussions,thepresentTA deserves to be allowed'

ORDER

TANO. l56rt2o23

the defendants bY not Placing anY Delhi. there is no question of disbelieving the evidence filed by the applicant bank based upon the written/printed

3) Recovery Certificate be issued forthwith and be senttoRecoveryofficer,DebBRecoveryTribunal-Il, evidence and

1) I hereby allow this T'A' of the Applicant Bank and direct the defendant nos'l & 2 to pay jointly and severally to the appticant bank within 30 days from today, a sum of Rs'10'19'705/- atong with cost' expenses and interest @ 11% from the date of flling of this O.A which has become TA till the date of realization.

2) In case of failure to deposit the above amount within the stipulated period' the same shall be recoveredfromthesaleofhypothecatedvehicleSKoDA SUPERB ELEGANCE Car' bearing Registration No' DL4CAV3309. In case of short fall' the same shall be recovered from the sale of personal movable and immovable assets of the defendant nos' 1 to 2'

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

TA NO. l56lt2o23

5) Parties are direct to appear before the Ld' Recovery Officer, DRT-II, Delhi on 2l'07 '2025' Pending IAs, if anY, stand disPosed of' File be consigned to records' g"\ (susHl L rcfrunr niGrocl) PRESIDING OFFICER DRT-II, Delhi Date: 21.05.2025 This judgement has been pronounced in oPen court' Date : 21.05.2025 signed, dated and sI

- '\ (SUSHIL KUMAR RASTOGI) PRESIDING OFFICER DRT-II, Delhi T