STATE BANK OF INDIA vs ADITYA RANA AND ORS on 9 October 2026

**FINAL ORDER**

This original application has been filed by the applicant bank on 22.09.2021 before DRT-II Delhi and then transferred to DRT-I Delhi under Section 19 of Recovery of Debts and *Sd-*

Bankruptcy Act, 1993 against the defendants for recovery of a sum of Rs.67,61,009/- (Rupees Sixty Seven lacs Sixty One thousand Nine only) as on 16.09.2021 along with pendentelite and future interest @7.40% per annum and @2% penal interest with monthly rest till its realization in full and costs.

2. The brief facts of the case are that at the request of defendant no.1 vide its loan application along with allotment letter dated 13.10.2018 issued by defendant no.2 and six payments receipts, the applicant bank sanctioned housing loan for a sum of Rs.68,00,000/- (Rupees Sixty Eight lacs only) @8.90% interest per annum subject to change from time to time as per bank's guidelines which was to be repaid in EMI of Rs.53,011/- under SBI Home Loan scheme on 19.11.2018 in order to purchase under construction Flat No.C3/003 (Duplex), "Shree Vardhman Gardenia", Sector-10, Sonipat, Haryana being developed and constructed by defendant no.2.

3. That in order to avail the housing loan facility, the defendant no.1 submitted housing loan application with letter of allotment & Flat Buyer Agreement, 6 Payments receipts and executed Memorandum of Loan Agreement for Home Loan, Agreement to Mortgage, Deed of Undertaking, Affidavit of Declaration and Indemnity, Consent Clause on 19.11.2018 and Standing Instructions dated 27.11.2018. The IDBI Trusteeship Service Ltd., the financier of defendant no.2 issued No Objection Certificate dated 20.11.2018 for said flat being purchased along with Call Notice/ Intimation Letter dated 19.11.2018 for demand of due amount.

4. That in order to secure the housing loan facility, defendant no.2 undertakes to create equitable mortgage in future on getting the title deed executed and to confirm their sd-

intention to create equitable mortgage execution confirmation letter dated 19.11.2018 with applicant bank for Mortgage of flat in future of Flat No.C3/003 (Duplex), "Shree Vardhman Gardenia", Sector-10, Sonipat, Haryana,

5. As per Tripartite Agreement dated 17.11.2018, the applicant bank shall have first lien over the residential flat being financed and in the event of default in repayment of instalments, defendant no.2 under obligation shall cancel the booking and not transfer the flat to any other person without prior consent of applicant bank and pay all the amount received on behalf of defendant no.1 to the applicant bank.

6. The applicant bank got its charge registered with CERSAI authorities on 22.05.2020 for the flat under construction being Flat No.C3/003 (Duplex), "Shree Vardhman Gardenia", Sector-10, Sonipat, Haryana

7. It has been submitted by the applicant bank that after availing the housing loan facility, the defendant no.1 failed to comply with the terms and conditions despite several requests and failed to deposit interest and monthly instalments regularly in time to the applicant bank. The applicant bank issued legal demand notice on 18.08.2021 to clear the outstanding but neglected, hence the account was classified as NPA on 24.06.2021 as per RBI guidelines and issued legal notice on 31.08.2021 calling upon the defendants to pay the entire outstanding dues to the applicant bank and defendant no.2 to cancel the booking and return the amount but the defendants did not clear the dues of the applicant bank, hence the applicant bank has approached this Tribunal for recovery of their dues.

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8. Notices of this O.A. were issued to the defendants and despite of proper service, the defendants have chosen to absent from the proceedings. As per order dated 16.09.2026, 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.

9. In order to prove its case, the applicant bank has filed its evidence by way of affidavit of Shri Sharat Jain, authorized representative of the applicant bank who has exhibited the documents such as Gazette Notifications Ex.AW-1/1(Colly), Loan Application Ex.AW-1/2, Letter of Allotment Ex.AW-1/3, Flat Buyers' Agreement Ex.AW-1/4, 6 Payment Receipts Ex.AW-1/5 to Ex.AW-1/10, No Objection to Mortgage Ex.AW-1/11, No Objection Certificate of IDBI Trusteeship Service Ltd. Ex.AW-1/12, Call Notice Ex.AW-1/13, Sanction Letter Ex.AW-1/14, Memorandum of Term Loan Ex.AW-1/15, Agreement to Mortgage Ex.AW-1/16, Deed of Undertaking Ex.AW-1/17, Affidavit of Declaration & Indemnity Ex.AW-1/18, Consent Clause Ex.AW-1/19, Standing Instruction Ex.AW-1/20, Confirmation Letter Ex.AW-1/21, Tripartite Agreement Ex.AW-1/22, Affidavit Ex.AW-1/23, CERSAI Charge Ex.AW-1/24, Legal Demand Notice & Postal Receipts Ex.AW-1/25(Colly) & Ex.AW-1/26, Postal Receipts Ex.AW-1/27, Unserved Envelopes Ex.AW-1/28(Colly), Statement of Account, Calculation Sheet, Overdue Penal Interest Statement marked as Ex.AW-1/1 to Ex.AW-1/31.

10. 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.

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

12. In the light of the above discussions, 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.67,61,009/- (Rupees Sixty Seven lacs Sixty One thousand Nine only) as on 16.09.2021 together with pendentelite and future interest @9.40% per annum from 17.09.2021 till the date of realization with costs failing which the aforesaid amount shall be recovered from the sale of mortgaged Flat No.C3/003 (Duplex), "Shree Vardhman Gardenia", Sector-10, Sonipat, Haryana. In case of default, the same shall be recovered from the sale of moveable and immovable property 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.

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

(Dictated and pronounced in open court) Dated: 09.10.2026