Debts Recovery Tribunals and Appellate Tribunals
LIC Housing Finance Limited vs PUNJAB NATIONAL BANK on 6 October 2026
**DEBTS RECOVERY APPELLATE TRIBUNAL, DELHI**
**Appeal No. 266/2026**
**Arising out of OA No. 565/2023 (DRT-III, Chandigarh)**
**Item No. 07**
**LIC Housing Finance Limited
V.
Punjab National Bank & others**
**06.10.2026 Hon'ble Dr. Justice Sudhir Kumar Jain**
**Present:** Sh. Siddharth Praveen Acharya along with Sh. Bhuvnesh Vyas, Advocate for appellant Ms. Sapna Sharma, Law Officer for respondent no.1 bank This matter is taken up through Hybrid hearing.
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1. Respondent no.1 filed O.A. bearing No.565/2023 titled as **Punjab National Bank & others v. LIC Housing Finance Limited** by impleading respondents no 2 to 4 and appellant as defendants.
2. DRT-III, Chandigarh vide final order dated 01.06.2026 has decided the O.A. whereby, the defendants no.1 and 2 were held liable to pay to the respondent no.1 a sum of Rs.20,70,728 along with interest as detailed in para 12 of the final order dated 01.06.2026. The relevant portion of final order dated 01.06.2026 is reproduced as under:
12. In the result, the application is allowed declaring that the defendant nos. 1 and 2 are liable to pay to the applicant a total sum of Rs.20,40,728.70 (Rupees Twenty Lacs Forty Thousand Seven Hundred Twenty Eight & Paise Seventy Only) jointly and severally, with costs, current and future simple interest @07.10%p.a. in the loan account from the date of filing of OA till the date of realization of the amount. Accordingly, the applicant shall be entitled to recover aforesaid amount from the sale of mortgaged property of the defendant nos. 1 and 2 in execution proceedings if not sold earlier under the provisions of the SARFAESI Act, 2002. If the dues of the applicant still remain unsatisfied, it shall be entitled to recover the same by attachment and sale of personal assets of the defendant nos. 1 and 2. The applicant is at liberty to enforce the claim through due process of law.
The appellant being aggrieved filed the present appeal
3. Sh. Bhuvnesh Vyas, Counsel for the appellant stated that the appellant is having the charge over the entire project which is not confined only to the subject property. Accordingly, he prayed and argued that as the appellant is having the charge over the entire project as such direction be given to the respondent no.1 to recover the decretal amount from the sale of the mortgage property of the respondents no.1 and 2 be set aside due to the reason that appellant is having charge over the entire project.
4. The perusal of final order dated 01.06.2026 reflects that no direction is passed against the appellant and the respondent no.1 was given liberty to recover the decretal amount from the sale of the mortgaged property of the respondents no.2 and 3 in case the decretal amount could not be realised from respondents no.2 and 3. There is no adverse direction given in the final order dated 01.06.2026 against the appellant. The appellant moreover is having the charge over the entire project but there is nothing on record which could reflect that the appellant is having the charge/ mortgage right over the subject property. The impugned order dated 01.06.2026 does not require any interference by this Tribunal particularly in context of the appellant. The appeal is accordingly dismissed along with pending application, if any.
**(Dr. Justice Sudhir Kumar Jain)** **Chairperson**
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