Allowed

Indian Bank v. Surbhi Gupta and Another

DRT30 Nov 2023OA/390/2022

Case brief

AI extract

What is this about?

In this recovery matter, the DRT allowed the bank's original application for dues of over Rs. 48 lakhs after finding documentary evidence unchallenged. The court directed repayment within 30 days or sale of mortgaged property.

What did the court decide?

Direct payment of Rs. 48,54,004 plus cost and interest @ 12.25% p.a. within 30 days; recovery from sale of mortgaged flat if not paid.

Indian Bank versus Surbhi Gupta and Another — Banking and Recovery | DRT (2023)

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Before SUSHIL KUMAR RASTOGI, Presiding Officer Debts Recovety Tribunal-Il, Delhi

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oAl39Ot2022

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INDIAN BANK VS. SURBHI GUPTA AND ANR.

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Reserued on : 31.10.2023

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Pronounced on : 30.11.2023

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Indian Bank -^{Applicant bank} Vs. 1 Smt. Surbhi Gupta 2 t4ls Rajesh Projects India h/t.Ltd. Defendants

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Present: Sh. Abhishek Negi, Counsel appears for applicant bank. None for defendants.

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FINAL ORDER

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This original application has been filed by the applicant bank, on 31.05.2022 through Shri Pradeep Kumar, Chief Manager of the applicant bank, under Section 19 of the Recovery of Debts Due to Banks and Financial Institution Act, 1993 against the defendant no.l & 2 for recovery of a sum of Rs.48,54,0041together with cos! charges and pendentellite and future interest @ 12.25o/o p.d. from date of filing of this O.A. till the realization in full.

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The brief facts of the case are that at the request of the defendant no.l, the applicant bank sanctioned, on 08.10.2014 a Loan amount of Rs.38,60,000/- for purchase of Flat no. H-2004, RG Luxury Homes, Plot no. GH-07A, Sector 16-8, Noida Extension, UP from defendant no.2. In order to avail the said loan facility the defendants have executed

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oA NO. 390t2022 2

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various loaning documents dated 08.10.2014 in favour of the applicant bank. A Tripartite Agreement dated 08.10.2014 has also been executed between defendant no. L, 2 and the applicant bank. The above said loan was taken by the defendants against the mortgage of the subject propefi mentioned above.

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It is further submitted that the defendants enjoyed and utilized the Loan facility, but failed to maintain 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 on 29.05.2019. Thereafter, the applicant bank serued a notice under Section 13(2) of the SARFAESI Act dated 01.06.2019 to the defendants, demanding the amount due as on that date, but failed to recover the same. Thus, the present O.A. is preferred by the applicant bank to recover its dues.

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On notice by this Tribunal, defendants failed to put appearance at all, despite publication and accordingly defendants were proceeded against expafte on 26.07.2023.

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The documentary evidence filed by way of affidavit of Sh. Pradeep Kumar, Chief Manager of the applicant bank as Annexure-Al to A-14 have gone unchallenged and un-rebutted. Hence, the case of the applicant bank stands fulty estabtished against the ST

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oA NO. 390t2022 3

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defendants with respect to non payment of EMI/ outstanding amount.

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After perusing the records, this Tribunal is of the view that the applicant bank has proved its case beyond reasonable doubts. The documentary evidence filed by the applicant bank not rebutted by the defendants and there is no question of disbetieving the evidence Rled by the applicant bank based upon the written/printed documents.

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In the light of the above discussions, the original Application deseryes to be allowed.

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ORDER

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I hereby ailow this o.A. of the Applicant Bank and direct the defendant nos. 1 & 2 to pay jointly and severally to the applicant bank within 30 days from today, a sum of Rs. 4B,S4,OO41- atong with cost, expenses and interest @ L2.25o/o simple from the date of filing of this o.A. till the date of realization.

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In case of failure to deposit the above amount within the stipulated period, the same shall be recovered from the sale of the property bearing Flat no. H-2004, RG Luxury Homes, plot no. GH_07A, sector 16-8, Noida Extension, Up. In case of shoft fall, the same shall be recovered from the sale of personal movable and immovable assets of the defendant no. 1 &2. ,'y

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oA NO. 390t2022 4

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1. Recovery Ceftificate be issued forthwith and be sent to Recovery Officer, Debts Recovery Tribunal-Il, Delhi.

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The registry of this Tribunal is hereby directed to issue free copy of the order and send the same to both the pafties.

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Parties are direct to appear before the Ld. Recovery Officer, DRT-II, Delhi on 3L.0L.2024. Pending IAs, if any, stand disposed of.

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File be consigned to records.

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Date : 30.LL.2023

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gA :701^,,in> (susHrL KUMAR RASTOGT) PRESIDING OFFICER DRT-II, Delhi

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This^judgement has been signed, dated and pronounced in open court.

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-"/Date : 30.1L.2023 (SUSHIl:KoMAR^v.i{f,, RASTOGT) PRESIDING OFFICER DRT-II, Delhi

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Indian Bank v. Surbhi Gupta and Another

Case brief

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Indian Bank v. Surbhi Gupta and Another

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