UNION BANK OF INDIA vs Sh. Satpal Babbar on 3 June 2025

FINAL ORDER

This original application has been flted by the applicant bank, on 04'03'2014 through Shri Sharad Kumar Mishra, Branch Manager of the applicant bank' under Section 19 of the RDB Act' 1993 against the defendants for recovery of a sum of Rs'5'25'78'869/- together with cost, charges and pendentellite and future interest @ 16.850/o p'a' from date of filing of this O.A. tillthe realization in full'

2. The brief facts of the case are that at the request of the defendants, the applicant bank sanctioned a Cash Credit Limit Facitity of Rs'500'00 lakhs for working capital required of proOletoqlp firm of defendant C)

TANO. r35ol2o23 2 no.1 vide sanction letter dated 18.10.2012. The defendants executed all loaning documents on 2O.LO.2O]2.In order to secure the amount due from the firm of defendant no'l' the said defendant hypothecated all stocks and book debts comprising of building material, such as tiles' marbles' Italian and all imported marbles etc' (present and future) in favour of applicant bank. The defendant no'2 guaranteed repayment of the amount due to the applicant bank and executed guarantee agreement dated 20'10'2012' Thedefendantno.lcreatedequitablemortgagein favour of the applicant bank in respect of property No' WZ-88, Khasra No'3988/25021tg35' situated in Village Bassai Darapur, Known as Raja Garden' New Delhi' measuring 350 sq' yds' Vide memorandum of deposit of Title Deed dated 20'10'2012'

3. It is further 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 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 on08.ll.2013.Therefore,theapplicantbankserveda demand notice dated 11'11'2013 to the defendans demanding the amount due as on that date' but failed to recover the same' Thus' the present O'Afl-A is preferred by the applicant bank to recover its dues'

4. On notice by this Tribunal' defendants put appearance through counsel but failed to frle written statement and evidence an4 tE right of the defendants 'f TANO. l35Ol2O23 3 to file written statement was closed on 15'12'2015' This Tribunal has granted opportunity to the Ld' Counsel of defendant no'1 to flle the written arguments but he failed to do so'

5. The applicant bank has filed its evidence by way of affidavit of Sh. Ravindra Prakash' Branch Manager as Paper No-l to Paper No-111 along with the O'A which have gone unchallenged and un-rebutted' Hence, the case of the applicant bank stands fully established against the defendants with respect to nonpayment 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 doubts' The evidence and documents lead by the applicant bank not rebutted by the defendants by not placing any documents and there is no question of disbelieving the evidence and documents lead by the applicant bank based documents. upon the written/Printed 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 nos' 1 & 2 to pay jointly and severely to the applicant bank within 30 days from today, a sum of Rs'5,25,78,869/- along with cost' expenses and interest @ 15'-,10o/o from the date of filing <"\

TA NO. 1350/2023 4 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 recovered from the sale of the hypothecated assets and the sale of mortgaged property bearing no. WZ-88, Khasra No.39B8/25021t935, situated in Village Bassai Darapur, Known as Raja Garden, New Delhi, measuring 350 sq. yds. In case of short fall, the same shall be recovered from the sale of personal movable and immovable assets of the defendant nos. 1 & 2.

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

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

5) Parties are direct to appear before the Ld. Recovery Officer, DRT-II, Delhion 04.08.2025. Pending IAs, if any, stand disposed of. File be consigned to records. ( SA Date : 03.06.2025 This judgement has been signed, dated and pronounced in open coutt. (susHrL KUMAR RASTOGI) PRESIDING OFFICER DRT-II, Delhi ( .A Date : 03.06.2025 (SUSHIL KUMAR RASTOGI) PRESIDING OFFICER DRT-II, Delhi T