PUNJAB NATIONAL BANK vs ANKIT BABBAR on 5 November 2026

**Debts Recovery Tribunal-I, Delhi

4^th Floor, Jeevan Tara Building, Parliament Street, New Delhi**

**Presiding Officer: Shri Govind Ballabh Sharma**

**T.A. No.2110 of 2022**

Punjab National Bank

(E-Oriental Bank of Commerce)

Circle Sastra Centre East Delhi

First Floor, Pocket-E, Mayur Vihar Phase II, Delhi-110091

Applicant

**Versus**

1. Shri Ankit Babbar s/o Sh.Sunil Babbar R/o 295, DDA Flats, New Seema Puri Delhi-110095

Also at:

Shri Ankit Babbar s/o Sh.Sunil Babbar

Flat No. A1/92, F-1,

DLF Ghaziabad, UP

Also at:

Shri Ankit Babbar s/o Sh.Sunil Babbar

M/s Mangal Associates & Car Bazar

N-8/A3, Dilshad Garden, Delhi-95

Also at:

Shri Ankit Babbar s/o Sh.Sunil Babbar

Flat No.SF-1, Plot No.C-1/65,

Residential Colony, DLF Dilshad Extn II

Village Brahmpur urf Bhopra, Pargana Loni Tehsil & Dist. Ghaziabad, UP

2. Sh.Mangal s/o Sh. Joginder Singh

R/o N-8/A3, Dilshad Garden, Delhi-95

Defendants

Present: Mr.Ajay Gupta, Counsel for the applicant bank Date of Reserve: 07.10.2026

Date of Pronouncement: 05.11.2026

Sd -

T.A. No. 2110 of 2022**FINAL ORDER**

This original application has been filed by the applicant bank on 16.07.2019 before DRT-III Delhi and then transferred to DRT-I Delhi under Section 19 of Recovery of Debts Due to Banks and Financial Institutions Act, 1993 against the defendants for recovery of Rs.25,40,692/- (Rupees Twenty Five Lacs Forty Thousand Six Hundred Ninety Two only) as on 14.07.2019 along with pendentelite and future interest @11.00% per annum with monthly rests till the date of its realization in full and costs.

2. The brief facts of the case are that on the request of defendant no.1 vide its loan application along with necessary documents, the applicant bank sanctioned housing loan facility under Individual housing loan scheme of Rs.21,00,000/- (Rupees Twenty One Lacs only) @10.25% interest per annum subject to change as per bank's guidelines on 24.07.2014 in order to purchase Flat no. SF-1, MIG, Second Floor, Plot no.C-1/65, Residential Colony, DLF Dilshad Extension-II, Village Brahmpur urf Bhopura, Pargana Loni, Tehsil & District Ghaziabad, UP measuring 600 sq.ft. The defendant no.2 stood as guarantor for the housing loan facility sanctioned in favour of defendant no.1 by applicant bank. In case of default in repayment of interest, the defendants agreed to pay @2% penal interest over agreed rate of interest.

3. In order to avail the housing loan facility, the defendants executed Sanction Letter, Housing Loan Agreement, Common Agreement and Common Affidavit as well as defendant no.2 executed Agreement of Guarantee in favor of the applicant bank on 24.07.2014.

Sd/-

4. In order to secure the housing loan facility, the defendants purchased the property and executed Sale Deed on 28.07.2014 in respect of residential Flat no. SF-1, MIG, Second Floor, Plot no.C-1/65, Residential Colony, DLF Dilshad Extension-II, Village Brahmpur urf Bhopura, Pargana Loni, Tehsil & District Ghaziabad, UP and created equitable mortgage of the flat by depositing the original Sale Deed in favor of the applicant bank on 19.08.2014 vide LTR document along with Form of Indemnity and Undertaking, Affidavits etc.

5. It has been submitted by the applicant bank that after availment of housing loan facility, the defendants initially maintained financial discipline but defaulted in repaying the installments despite reminders from the applicant bank. The applicant bank classified the account as NPA on 31.05.2017 in accordance with RBI guidelines and issued demand notice under Section 13(2) SARFAESI Act, 2002 dated 02.08.2017 but the defendants made no efforts to clear the dues.

6. Notices of this O.A. were issued to the defendants and despite proper service, the defendants have chosen to absent from the proceedings. As per order dated 07.10.2026, the defendants have been proceeded ex-parte as they have not appeared before the Tribunal and even written statement, evidence and affidavit of assets have not been filed by the defendants.

7. In order to prove its case, the applicant bank has filed its evidence by way of affidavit of Sh.Rattan Chand, authorized representative of the applicant bank who has proved the documents such as Power of Attorney, Loan Sanction Letter, Loan Agreement, Common Agreement, Agreement of Sd/

Guarantee, Copy of Sale Deed, Document (LTR), NPA Certificate, Demand Notice u/s 13(2), Statement of Account along with Certificate under Bankers' Book Evidence Act and Certificate u/s 65B of Evidence Act marked as EX.AW-1/1 to EX.AW-1/11.

8. 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 approved.

9. 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.

10. In the light of the above discussions, the Original Application deserves to be allowed.