PUNJAB AND SIND BANK vs SHRI KULJEET SINGH on 9 October 2026

**FINAL ORDER**

This original application has been filed by the applicant bank on 27.05.2016 under Section 19 of Recovery of Debts Due to Banks and Financial Institutions Act, 1993 against the defendants for recovery of a sum of Rs.67,86,238/- (Rupees Sixty Seven Lacs Eighty Six Thousand Two Hundred Thirty Eight only) as on 30.04.2016 along with pendentelite and future interest @10.00% per annum with monthly rest plus @2% penal interest from 01.05.2016 till the date of realization and costs. Further, the name of Ms Upma Dureja was substituted as authorized representative in place of erstwhile ARs for the applicant bank.

2. The brief facts of the case are that at the request of defendant no.1 & 2 as co-borrowers, the applicant bank sanctioned housing loan facility of Rs.50,00,000/- (Rupees Fifty Lacs only) on 12.06.2013 @10.50% interest per annum to be repayable in 240 Equated Monthly Installments of Rs.50,000/- besides interest for purchase of Property being Flat no.804, 8^th Floor, DDA HIG Flats, Pitampura, Delhi. The defendant no.3 stood as guarantor for housing loan facility sanctioned by applicant bank in favour of defendant no.1 & 2. In case of default in repayment of instalments, the defendants agreed to pay @2% penal interest on defaulted amount.

2. That in order to avail the housing loan facility, the defendant no.1 and 2 submitted loan application and executed Sanction Letter, Form No.15(R), Form No.103/291/412, Form no.106, Form no.199, Form no.200, Form No.13, Form No.14, Sd-

Undertaking, Loan Agreement, Form No.256(RR) and Form No.84-A(R) on 12.06.2013 in favour of applicant bank. The defendant no.3 stood as guarantor and executed Deed of Continuing Guarantee on 12.06.2013 towards the applicant bank.

3. That in order to secure the loan facility, the defendant no.1 created equitable mortgage of Flat no.804, 8^th Floor, DDA HIG Flats, Pitampura, Delhi by depositing Sale Deed dated 13.06.2013 in favour of the applicant bank on 27.06.2013.

4. It has been submitted by the applicant bank that after availing the housing loan facility, the defendant no.1 & 2 failed to comply with loan agreement entered despite several requests and defaulted in payment of monthly installments in time to the applicant bank. The applicant bank classified the account as NPA on 07.09.2013 as per RBI guidelines but defendants made no efforts for regularization of the account. Hence, the applicant bank has approached this Tribunal for recovery of their dues.

5. Notice under Section 13(2) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act 2002 dated 20.09.2013 was issued upon defendants to liquidate the outstanding.

6. Upon enquiry made by the officials of applicant bank from Sub-Registrar office, it revealed that defendants have placed fraud and submitted false sale deed dated 13.06.2019 on 27.06.2013 to avail the housing loan facility to cause wrongly financial loss to applicant bank and no such sale deed was registered. The applicant bank lodged complaint on 08.10.2013

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and FIR u/s 420/467/468/471, IPC on 14.12.2013 with P.S.Gautambudh Nagar, UP.

7. Notice of this O.A. were issued to the defendants and despite proper service through publication in newspapers, the defendants have chosen to absent from the proceedings. As per order dated 26.04.2018, the defendants have been proceeded ex-parte as not appeared before the Tribunal and even no written statement, evidence and affidavit of assets have been filed by the defendants.

8. In order to prove its case, the applicant bank has filed its evidence by way of affidavit of Sh. Anubhav Bajaj & Ms Upma Dureja, authorized representative of the applicant bank who has proved the documents such as Authority Letter, General Power of Attorney, Form No.15(R), Form No.103/291/412, Form no.106, Form no.199, Form no.200, Form No.13, Form No.14, Undertaking, Loan Agreement, Form No.256(RR) and Form No.84-A(R), Copy of Sale Deed dated 13.06.2013, Conveyance Deed dated 07.04.2010, Demand Notice u/s 13(2), Copy of Statement of Account, Copy of Complaint dated 08.10.2013, Copy of FIR dated 14.12.2013 marked as Ex.AW-1/1 to Ex.AW-1/17.

9. The applicant bank has fully corroborated the averments made in the O.A. Even otherwise the whole case of the applicant bank is based on the documents and the same have been duly proved.

10. The case filed by the applicant bank gone unrebutted and there is no question of disbelieving the case of the applicant bank and the applicant bank has proved its case beyond reasonable doubts.

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11. In the light of the above discussions and documents on record, the Original Application deserves to be allowed.

ORDER

I, allow this OA and direct the defendants to pay to the applicant bank within a period of 30 days, jointly or severally, a sum of Rs.67,86,238/- (Rupees Sixty Seven Lacs Eighty Six Thousand Two Hundred Thirty Eight only) as on 30.04.2016 along with pendentelite and future interest @12.00% per annum with monthly rests from 01.05.2016 and costs failing which the aforesaid amount shall be recovered from sale of movable and immovable assets of the defendants.

(II) The recovery certificate be issued forthwith and be sent to the Recovery Officer, Debt Recovery Tribunal-I, Delhi.

(III) Parties are directed to appear before the Recovery Officer, DRT I, Delhi on 08.12.2026.

(IV) Copies of final order as well as Recovery Certificate be sent to all concerned free of cost.

*e Sd-* **(GOVIND BALLABH SHARMA)** **PRESIDING OFFICER** **DRT-I, DELHI**

(Dictated and pronounced in open court) Dated: 09.10.2026