BANK OF INDIA vs Hotel Kashish International on 23 May 2025

FINAL ORDER

2. The brief facts of the case are that at the request of defendant no'l, acting through its proprietor' the defendant no.2, the applicant bank sanctioned a credit facilities of term loan of R9.',15-.lacs and CC limit of Rs'5 (I

lacs, vide sanction letter dated 11'02'2004' The defendant no'2 created equitable motgage over the proPertY being 1563D0/, Laxmi NaraYan Street' Pahar GAflJ, New Delhi on 11.02.2004 beside the Primary securitY being n of stocks and Air conditioning Plant equiPment and furnituret and fixtures etc' Again' at the request of defendant no'l' the aPPlicant bank sanctioned additional credit facility of Rs'45 lacs, vide sanction letter dated 09'06'2005' The defendants offered aforesaid Propeary as collateral security besides the personal guarantee of the defendant no'3' The defendants executed all necessary loaning documents on 09.06.2005. The aPPlicant bank' seeing the business relationshiP and securitY cover for additionalterm loan of Rs.150 lacs and CC limit of Rs' 7 lacs, sanctioned additional term loan of Rs'150 lacs and CC limit of Rs' 7 lacs vide sanction letter dated 26.12.2007 ' The defendants executed all necessary baning documents on 27 '12'2O07 ' The defendants created equitable mortgage by constructive delivery of title deed of the immovable ProPerties i.e., (t). ProPertY no-1563/XV, Laxmi NaraYan Street' Pahar Ganj, New Delhi, area measuring 450 sq' Yards along with building thereon' (2). Extension of equitable mortgage over enUre 2nd floor in the ProPertY No' 83/16, Ansari Road' rya Ganj, New Delhi in the name DA of the defendant no.3. (3). Extension of equitable mortgage over the Propedry no' J 107' Ground Floor and 2nd floor, South extn. Part-l New Dethi in the name of the defendants nos'2 and 3 It is submitted that subsequentlY the South Extension ProPertY being J- r07, Ground Floor and 2d floor' South extn. Part-l New the bank Delhi was released bY g\ from its mortgage'

TANO. '129 of 2023

Again, at the request of defendants' the applicant bank sanctioned an additional term loan of Rs'700 lacs to defendant no'1' vide sanctton letter dated 05.06.2009. The defendants executed all necessary loaning documents dated 17'07'2009' in order to secure the repayment of the loan amount to the applicant bank, the defendants created equitable moftgage over the properties i'e'' (1)' Property No- 1563/trt/, Laxmi Narayan Street' Pahar Ganj' New Delhi, area measuring 450 sq' yards along with building thereon. (2)' Extension of equitable mortgage over entire 2d floor in the Property No' 83/16' Ansari Road' Darya Ganj, New Delhi in the name of the defendant no.3.

3. It is further submitted that the defendants enjoyed and utilized the Loan facility' but faited to maintainthefinancialdisciptineandfailedtorepaythe 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, hence the account was classified as NPA on 30.06.2011' Therefore' the applicant bank served demand notice dated 08'08'2011 to the defendants' demanding the amount due as on that date' but failed to recover the same' Thus' the present OM['A' is preferred by the applicant bank to recover its dues'

4. On notice by this Tribunal' the defendants put appearance through counsel but faited to file written shtement and their right to file written statement was closed vide order dated 21'10'2019' Thereafter' oppoftunity was granled to the defendants for oral '}

5. On the other hand' the applicant bank has fited the evidence by way of the affidavit of Mr' Pramod Kumar Dwibedi, Chief Manager of applicant bank as Annexure-l to Annexure-16 along with the OA 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'

arguments and to file written arguments but the defendants have failed to do so' documents. In the tight of the above discussions' the present TA deserues to be allowed'

ORDER

6. After perusing the records' this Tribunal is of the viewthattheapplicantbankhasproveditscase beyond reasonable doubts' The evidence and documents filed by the applicant bank not rebutted by thedefendantsbynotplacinganyevidenceandthere is no question of disbelieving the evidence flled by the applicant bank based upon the written/printed

1) I hereby allow this T'A' of the Applicant Bank and direct the defendant nos' 1 to 4 to pay jointly and severally to the applicant bank within 30 days from today, a sum of RS'10'59'37'9OO'45 along with cost' expenses and interest @ 11'75olo from the date of flting of this O.A' which has become TA titl the date of realization' st

recoverdfromthesaleofhypothecatedassetsand sale of mortgaged property bearing no -1563/XV' Laxmi Narayan Street, Pahar Ganj, New Delhi' area measuring 450 sq. yards along with building thereon and Entire 2nd floor in the Property No' 83/16' Ansari Road' Darya Ganj, New Delhi. In case of short fall' the same shall be recoveredfromthesaleofpersonalmovableand immovable assets of the defendant nos'1 to 4'

3) Recovery Certificate be issued forthwith and be sent to Recovery Officer, Debts Recovery TribunaFll'

In case of failure to deposit the above amount within the stipulated period, the same shall be Delhi. the Parties'

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

5) Pafties are directed to appear before the Ld' Recovery Officer, DRT-II, Delhion 23'07'2025' Pending IAs, if anY, stand disPosed of' File be consigned to records' Date :23.05.2025 This judgement has been pronounced in oPen court' Date :23'05.2025 <A\ (SUSHIL KUMAR RASTOGI) bnrslotltc oFRcER DRT-II, Delhi signed, dated and <"\ (susHIL KUMAR nnsloct) PRESIDING OFFICER DRT.II, DEIhi T