PUNJAB NATIONAL BANK vs Sh Virender Singh on 4 November 2026

FINAL ORDER

This original application has been filed by the applicant bank, on 05'09'2013 through Smt' Rama Sharma, Manager and Principal Officer of the applicant bank, under Section 19 of the RDB Act, 1993 against the defendants for recovery of a sum of Rs'18,42,768'94 together with cost, charges and pendentellite and future interest @8.50o/o from date of filing of this O'A' till the realization in full. Tl TANO. 147 of2022

2. The brief facts of the case are that at the request of Late Smt. Amita Saxena and Late Sh. Rajendra Parkash, the predecessor in interest of defendant nos.1 to 3, the applicant bank sanctioned a Housing Loan Facility of Rs.17,50,000/-, vide sanction letter dated 08.09.2010 for purchase of property situated at Uttam Nagar, New Delhi bearing No. A-1l23, Mohan Garden, Uttam Nagar, New Delhi-110059. The predecessor in interest of defendant nos.1 to 3 and defendant nos.4 and 5 stood as guarantors executed all necessary loaning documents on 01.07.2010 and 08.09.2010. It is submitted that Late Smt. Amita Saxena and Late Sh. Rajendra Parkash, the predecessor in interest of defendant nos.1 to 3 equitable moftgaged the propefi bearing No. 4-1/23, Mohan Garden, Uttam Nagar, New Delhi-110059, consisting of ground floor and second floor.

3. It is further submitted that the defendants enjoyed and utilized the Loan facilities, 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 dated 01.07.2013. The applicant bank served a demand notice dated 16.0g.2013 to the defendants but failed to recover the same Thus, the present O.A.ff.A. is preferred by the applicant bank to recover its dues.

4. On notice by this Tribunal, defendants put appearance through counsel and filed written statement but failed to file evidence. Thereafter, the defendants ,r\

TA NO. 147 of 2022

failed to put appearance in the matter, despite issuance of default notice. Accordingly, the defendants were proceeded against exparte on 17.07.2026.

5. The applicant bank has filed documents along with OA as Paper No. I to Paper No.93, which have gone unchallenged and un-rebutted. Hence, the case of the applicant stands fully established against the defendants with respect to nonpayment of 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 documents filed by the applicant bank not rebutted by the defendants by not placing any evidence and there is no question of disbelieving the documents filed by the applicant bank based upon the wriften/printed documents. In the light of the above discussions, the present T.A. deserues to be allowed.

ORDER

1) I hereby allow this T.A. of the applicant bank and direct the defendant nos.1 to 5 to pay jointly and severally to the applicant bank within 30 days from today, a sum of Rs.18,42,768.94 along with cost, expenses and interest @8.50o/o from the date of filing of this O.A. which has become T.A till the date of realization. However, the liability of LRs of deceased Smt. Amita Singh is limited to the extent of property/assets inherited by them from deceased Smt. Amita Singh.

2) In case of failure to deposit the above amount within the stipulated periqd, the same shall be recovered sA'

TANO. r47 of 2022

from the sale of mortgaged property bearing No. A- U23, Mohan Garden, Uttam Nagar, New Delhi-110059, consisting of ground floor and second floor. In case of short fall, the same shall be recovered from the sale of personal movable and immovable assets of the defendant nos.1 to 5.

3) Recovery Certificate 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 directed to appear before the Ld. Recovery Officer, DRT-II, Delhi on 04.0t.2027. Pending IAs, if any, stand disposed of. File be consigned to records. Date : 04.11.2026 'ed (susHrL KUMAR' RliSrOGr) PRESIDING OFFICER DRT-II, DCIhi This judgement has been signed, dated and pronounced in open court. Date : 04.11.2026 ! sJ. (SUSHIL KUMAR RASTOGI) PRESIDING OFFICER DRT-II, Delhi