STATE BANK OF INDIA vs MRS RUBEENA CHANDAN on 27 August 2026

**J U D G M E N T**

1. 1. This is an application under Section 19(1) of Recovery of the Debt and Bankruptcy Act, 1993 (for short, 'the 1993 Act') to recover Rs. 55,71,297/- with future interest thereon from the date of presentation of the Transfer Original Application till payment/realization and to enforce the mortgaged securities.

2. Defendant no.1 and 2 are the borrowers who approached the applicant seeking financial assistance by way of housing loan. The applicant sanctioned a housing loan of Rs.48,00,000/- to the defendants, repayable in EMIs of Rs.47,550/-, as per the terms of the Arrangement Letter dated 28.11.2018 as specified in para.no. 5.a & 5.b of the Transfer Original Application and on them executing loan and security documents.

3. Defendants mortgaged the property viz., Flat No.102, 1st Floor, admeasuring 528 sq. ft. built-up area, in Building No.22 in FAM Co-operative Housing Society Ltd., Plot No.19, 19A, Sector 11, Koperkhairne, Navi Mumbai, Taluka and District Thane - 400709, within the limits of Navi Mumbai Municipal Corporation, to secure the loan.

4. The Defendants committed defaults in payment of the instalments and failed to regularise the loan account. Consequently, the account of the Defendants became NPA on 26.10.2020.

5. Since defendants failed to make the repayment, the applicant was left with no other alternative other than to file the Transfer Original Application which was presented on 11.04.2023. Defendant No.1 & 2 were duly served with the summons for appearance on 13.10.2023. The defendants did not appear and as they had remained absent without any representation for them, they were set at ex parte.

1. 6. Despite issuance of letters, personal visits, telephonic conversation and reminders the Defendants have failed to regularise the account. So the Applicant had caused the issuance of lawyer notice to Defendants to pay up the dues with interest.

2. 7. The applicant filed an affidavit (exhibit-11) in lieu of examination in chief through Mr. Rambhau K. Taktewale, Chief Manager of State Bank of India, had produced documents, which are admitted in evidence, read, recorded and exhibited and were marked as AW-1 to AW-15.

3. 8. Accordingly, the Transfer Original Application has been filed for recovery of Rs.55,71,297/- with further interest @8.60% p.a., from the date of filing of the Original Application till payment/realisation.

4. 9. A scrutiny of the averments in the Transfer Original Application and an analysis of the evidence adduced by the applicant, which has gone unchallenged, uncontroverted and unrebutted, shows that there is no reason to reject the claim made by the applicant bank.

10. In view of the observations made hereinabove, Transfer Original Application filed by the applicant deserves to be allowed.

11. Hence, the following order is passed:

ORDER

- a. T.O.A. stands allowed with cost and the Defendant No. 1 & 2 are held liable jointly and severally to pay to the Applicant Bank within two months a sum of Rs.55,71,297/- with pendentite lite and future interest @8.60% p.a. from the date of presentation of the Original Application till payment/realisation; failing which the aforesaid amount shall be recovered from the sale of mortgage property viz., Flat No.102, 1st Floor, Building No.22, FAM Co-operative Housing Society Ltd., Plot No.19/19A, Sector 11, Koperkhairne, Navi Mumbai 400709, admeasuring 528 sq. ft. built-up area, and in case of shortfall, the same shall be recovered from the sale of the movable and immovable properties of the Defendants.

- b. Defendants are directed to declare, on oath, to the Recovery Officer, Debts Recovery Tribunal - I, Mumbai, both their moveable and immoveable assets for the purpose of attachment and sale for realizing the shortfall, if any.

- c. Let a Recovery Certificate be issued with a memo of cost immediately u/s 19(22) of The Recovery of Debts and

Bankruptcy Act, 1993 together with the details of the properties, if any.

- d. The Defendants are restrained from depleting, transferring, encumbering, alienating or in any way dealing with their properties/assets without first paying the claim of the Applicant Bank.

- e. Copies of this judgment be sent to the parties free of cost and file be consigned to record room.

- f. Give under my hand and the seal of this Tribunal on this date : 27.08.2026

(Dictated to my Stenographer, transcribed by her, corrected and signed by me and pronounced in open forum on 27.08.2026 ).

Place:- Mumbai Date:- 27.08.2026

Presiding Officer, DRT-1, Mumbai (Sreekala Suresh)