Allowed

Punjab National Bank (E-Oriental Bank of Commerce) v. Sh. Gobind Bansal

DRT26 Nov 2024OA/129/2023

Case brief

AI extract

What is this about?

The DRT-I Delhi allowed an Original Application filed by Punjab National Bank against two defendants for recovery of outstanding dues of Rs.71,15,555.50 arising from defaulted housing and term loans. The Tribunal proceeded ex-parte due to defendant absence, assessed the bank's documentary evidence as unrebutted, and directed payment and issuance of a recovery certificate.

What did the court decide?

Directing defendants to pay Rs.71,15,555.50 with interest and costs within 30 days; recovery from mortgaged or other properties in case of shortfall; issuance of recovery certificate.

Punjab National Bank (E-Oriental Bank of Commerce)… — Contract and Commercial Disputes | DRT (2024)

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O.A. No. 129 of 2023

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Debts Recovery Tribunal-I, Delhi 4th floor, Jeevan Tara Building, Parliament Street, New Delhi

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Presiding Officer: Shri Govind Ballabh Sharma

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O.A. No. 129 of 2023

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Punjab National Bank (e-Oriental Bank of Commerce) Circle Sastra North Delhi 2nd Floor, Vikrant Tower Rajendra Place, Delhi-110008

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Applicant

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Versus

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Sh.Gobind Bansal s/o Hari Kishan H.No.2077, Narela Mandir Narela Namoorpur, Delhi-110040

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Also at:

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Sh.Gobind Bansal s/o Hari Kishan Property No.22, 1st & 2nd Floor Kh.No.286/2, Mandi Extn. Padam Dham Wali Gali Narela, Delhi-110040

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Smt. Ritu wo Sh.Gobind Bansal H.No.2077, Narela Mandir Narela Namoorpur, Delhi-110040

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Also at:

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Smt. Ritu wo Sh.Gobind Bansal Property No.22, 1st & 2nd Floor Kh.No.286/2, Mandi Extn. Padam Dham Wali Gali Narela, Delhi-110040 Defendants

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Present: Sh.Anshuman Srivastava, Counsel for the applicant bank

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Date of Institution: 21.01.2023

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Date of Pronouncement: 26.11.2024

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O.A. No. 129 of 2023

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FINAL ORDER

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This original application has been filed by the applicant bank on 21.01.2023 through Shri Vivek Kumar, authorized representative of the applicant bank under Section 19 of Recovery of Debts and Bankruptcy Act, 1993 read with Rule 8 of the Debts Recovery Tribunal Rules 1993 against the defendants for recovery of a sum of Rs.71,15,555.50 (Rupees Seventy One Lacs Fifteen Thousand Five Hundred Fifty Five & paisa Fifty only) as on 31.12.2022 along with pendentelite and future interest per annum with monthly rest plus @2% penal interest from the date of filing of this application till the date of realization and costs.

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The brief facts of the case are that on the request of defendants being applicant and co-applicant vide loan application dated 21.11.2019, the applicant bank sanctioned housing loan facility of Rs.48.00 lacs (Rupees Forty Eight Lacs only) @8.30% interest per annum on 11.12.2019 to be repayable in 480 EMI of Rs.34,461/- in order to purchase property bearing No.22, 1st & 2nd Floor, Khasra No.286/2, Mandi Extension, Gali Padam Dham Wall, Narela-110040. In addition, the applicant bank sanctioned fresh term loan of Rs.12.00 lacs on 17.02.2020 @8.10% interest per annum to be repayable in 180 EMI of Rs.11,538/-. The applicant bank also entitled to recovery additional interest @2% over the applicable rate of interest on default.

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That in order to avail the housing loan facility, the defendants submitted application form dated 21.11.2019 and executed Agreement of Individual Housing Loan, Common Agreement, Letter for Auto Recovery / ECS/NACH/NEFT/ SI,

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O.A. No. 129 of 2023

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Undertaking to execute agreement for Sale / Deed of Conveyance, Undertaking for carrying out construction as per Sanction Plan, Affidavits, Power of Attorney on 12.12.2019 / 13.12.2019. Further, for additional term loan facility availed, the defendants executed Common Agreement, Agreement of Individual Housing Loan, Common Affidavit, Letter for Auto Recovery, Undertaking, Affidavits and Letter of Intent on 17.01.2020 & 18/19.02.2020.

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The applicant bank submitted that in order to secure the housing loan facilities, the defendants created mortgage over the property bearing No.22,^{1st &2ndFloor, Khasra No.286/2,} Mandi Extension, Gali Padam Dham Wali, Narela-110040 by deposing Sale Deed with the applicant bank.

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It has been submitted by the applicant bank that after availing the aforesaid housing loan facilities, the defendants failed to comply with the terms and conditions and despite several requests and reminders, defaulted in repayment of the monthly installments in time to the applicant bank. Ultimately, the applicant bank classified the account as NPA on 01.05.2021 as per RBI guidelines. Hence, the applicant bank has approached this Tribunal for recovery of their dues.

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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 02.09.2024, the defendants have been proceeded ex-parte as they have not appeared before the Tribunal nor written statement, evidence and affidavit of assets have been filed.

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Notice under Section 13(2) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security

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O.A. No. 129 of 2023

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Interest Act 2002 dated 04.06.2021 served on the defendants by the applicant bank to pay the outstanding dues but no reply. The applicant bank issued notice under Section 13(4) on 18.09.2021 duly published in newspaper and took the physical possession of the mortgaged property on 20.08.2022 peacefully.

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In order to prove its case, the applicant bank has filed its evidence by way of affidavit of Shri Vivek Kumar, authorized representative of the applicant bank who has proved the documents as Power of Attorney Ex.AW1/1, Loan Application Form & Sanction Letter dated 11.12.2019 Ex.AW1/2(colly), Agreement for Housing Loan Ex.AW1/3 & Ex.AW1/16, Common Agreement Ex.AW1/4 & Ex.AW1/15, Letter for Auto Recovery Ex.AW1/5 & Ex.AW1/18, Undertaking to execute Agreement for Sale Deed Ex.AW1/6, Undertaking for Construction Ex.AW1/7 & Ex.AW1/19, Affidavits Ex.AW1/8 to Ex.AW1/11 & Ex.AW1/20, Power of Attorney Ex.AW1/12, Sale Deed Ex.AW1/13, Sanction Letter dated 17.02.2020 Ex.AW1/14, Common Affidavit Ex.AW1/17, Letter of Intent Ex.AW1/21, Notice u/s 13(2) dated 04.06.2021 Ex.AW1/22, Notice u/s 13(4) with Publication Ex.AW1/23(colly), Statement of Account Ex.AW1/25(colly).

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

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O.A. No. 129 of 2023

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

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ORDER

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I, allow this OA and direct the defendants to pay to the applicant bank, jointly or severally, within 30 days, a sum of Rs.71,15,555.50 (Rupees Seventy One Lacs Fifteen Thousand Five Hundred Fifty Five & paisa Fifty only) as on 31.12.2022 along with pendentelite and future interest @10.30% per annum with monthly rest from the date of filing of this application till the date of realization and costs, failing which the aforesaid amount shall be recovered from the sale of mortgaged property bearing No.22, 1st & 2^{ndFloor, Khasra} No.286/2, Mandi Extension, Gali Padam Dham Wall, Narela110040. In case of shortfall, the same shall be recovered from the sale of movable & immovable properties of the defendants.

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

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(III)^{Parties are directed to appear before the Recovery} Officer, DRT I, Delhi on 27.01.2025.

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

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(GOVIND BALLA SHARMA) PRESIDING OFFICER DRT-I, DELHI

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(Dictated and pronounced in open court) Dated: 26.11.2024

Punjab National Bank (E-Oriental Bank of Commerce) v. Sh. Gobind Bansal

Case brief

What is this about?

What did the court decide?

Punjab National Bank (E-Oriental Bank of Commerce) v. Sh. Gobind Bansal

Case brief

What is this about?

What did the court decide?

What the court decided

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Statutes considered

Parties & counsel

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