Allowed

Bank of India v. Harendra Kumar

DRT15 Jun 2024TA/2700/2022

Case brief

AI extract

What is this about?

A Debt Recovery Tribunal adjudicated an application filed by the Bank of India against borrowers and guarantors. The bank sought recovery of a housing loan amount and interest along with costs, relying on a tripartite agreement involving the builder and documentation evidencing an equitable mortgage over the purchased flat.

What did the court decide?

Direction to pay Rs.48,85,154.37 with interest and costs within 30 days or recover the amount from the sale of the mortgaged apartment and other properties of the defendants.

Bank of India versus Harendra Kumar — Banking and Recovery | DRT (2024)

¶1

O.A. 2700 of 2022

¶2

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

¶3

Presiding Officer: Shri Govind Ballabh Sharma

¶4

TA No. 2700 of 2022

¶5

Bank of India X/918, Chand Mohalla Gandhi Nagar, Delhi-110031 Applicant

¶6

Versus

¶7

Sh.Harendra Kumar s/o Bangali Prasad Sinha 604, SCM Wing A Shipra Krishna Shrishti Ahinsa Khand-I, Indrapuram Ghaziabad, UP-201014

¶8

Also at:

¶9

Sh.Harendra Kumar s/o Bangali Prasad Sinha C/o Project Lead Engineer India Document Solutions Pvt.Ltd Logix Cyper Park, Sector-62 Noida, UP-201301

¶10

Mrs.Sangita Sinha w/o Harendra Kumar 604, SCM Wing A Shipra Krishna Shrishti Ahinsa Khand-I, Indrapuram Ghaziabad, UP-201014

¶11

Sh.Prem Kumar Sharma s/o Chatter Sen Sharma E-773B, Sector-11, Pratap Vihar Ghaziabad, UP-201009

¶12

Rudra Buildwell Projects Pvt.Ltd. Through its directors D-53, Okhla Phase I New Delhi-110020

¶13

Also at:

¶14

Rudra Buildwell Projects Pvt.Ltd. Through its director A-66, Sector-63, Noida, UP-201301

¶15

O.A. 2700 of 2022

¶16

Also at: Rudra Buildwell Projects Pvt.Ltd Rudra Palace Heights Plot No. GH-02B, Sector-01, Greater Noida West — 201303 UP. Defendants

¶17

Present: Sh. S.V.Tyagi, Counsel for the applicant bank

¶18

Date of Institution: 26.10.2018 Date of Pronouncement: 15.06.2024

¶19

FINAL ORDER

¶20

This original application has been filed by the applicant bank on 26.10.2018 through Shri Arvind Kumar Agrawal, 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.48,85,154.37 (Rupees Forty Eight Lacs Eighty Five Thousand One Hundred Fifty Four and paisa Thirty Seven only) as on 25.10.2018 along with pendentelite and future interest ©8.80% per annum with monthly rests plus 2% penal interest from 26.10.2018 till the date of realization and costs. Further, the name of Sh.Pradeep Kumar was substituted as authorized representative in place of Sh.Arvind Kumar Agarwal, erstwhile AR for the applicant bank

¶21

The brief facts of the case are that defendant no.1 as borrower and defendant no.2 & 3 as guarantors of the loan while defendant no.4 is builder of the project. On the request of the Defendant no.1, the applicant bank sanctioned housing loan facility for a sum of Rs.46,80,000/- (Rupees Forty Six Lacs

¶22

¶23

O.A. 2700 of 2022

¶24

Eighty Thousand only) on 25.08.2016 repayable in 240 EMI of Rs.43,319/- @9.40% interest with monthly rests in order to purchase Apartment No.1801, 18th Floor, Tower No.B-2, Palace Heights, Plot No.GH-02B, Sector-1, Noida Extension, UP on the basis of Apartment Buyer Agreement dated 12.07.2016.

¶25

That in order to avail the housing loan facility, the defendant No.1 executed duly stamped DP Note (L-434), Installment Letter(L-440), Agreement for Home Loan(L-513), Multipurpose Documents(L-516), Special Power of Attorney, Affidavit cum Undertaking and defendant no.2 & 3 executed Deed of Guarantee (0D-194) with applicant bank on 30.08.2016.

¶26

Further, the defendant no.1, 4 and applicant bank executed Tripartite Agreement dated 30.08.2016 whereby the defendant no.4 undertaken that on receipt of entire consideration amount, they shall execute proper conveyance deed/sub lease deed in the name of defendant no.1 and shall deliver the sale deed/lease deed directly to the applicant bank.

¶27

It has been submitted by the applicant bank that in order to secure the aforesaid loan facility, the defendant no. 4 issued permission to create equitable mortgage vide letter dated 30.08.2016 confirming marking of lien on subject Apartment No.1801, 18th Floor, Tower No.B-2, Palace Heights, Plot No.GH-02B, Sector-1, Noida Extension, UP.

¶28

The defendant no.1 give notice vide letter dated 01.12.2017 to defendant no.4 for cancellation of booking of flat and refund the amount paid.

¶29

O.A. 2700 of 2022

¶30

It has been submitted by the applicant bank that after availing the aforesaid loan facilities, the defendants failed to comply with the terms and conditions and despite several requests and reminders the defendants failed to pay the outstanding dues and monthly installments in time to the applicant bank. Ultimately, the account was declared NPA on 31.12.2017 by the applicant bank and issued recall notice dated 19.01.2018 & 14.03.2018. Hence the applicant bank has approached this Tribunal for recovery of their dues.

¶31

The defendant no.4 vide letter dated 22.01.2018 undertakes to serve the EMIs till new buyer approach for taking the said flat and the applicant bank vide letter dated 28.09.2018 requested the defendant no.4 to refund the amount paid after debiting the account of defendant no.1 as per Tripartite Agreement dated 30.08.2016 but they failed to do so.

¶32

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 13.09.2019, the defendant no.3 has been proceeded exparte and defendant no.1, 2 and 4 have been proceeded ex-parte vide order dated 04.04.2024 as they have not appeared before the tribunal nor written statement, evidence and affidavit of assets have been filed.

¶33

In order to prove its case, the applicant bank has filed its evidence by way of affidavit (AW-1) of Shri Pradeep Kumar, authorized representative of the applicant bank who has proved the documents as Power of attorney Exhibit AW1/1, Sanction Letter Exhibit AW-1/2, DP Note Exhibit AW-1/3, Installment letter Exhibit AW-1/4, Agreement for Home Loan

5d-

O.A. 2700 of 2022

Exhibit AW-1/5, Multipurpose Document Exhibit AW-1/6, Deed of Guarantee Exhibit AW-1/7, Apartment Buyer Agreement Exhibit AW-1/8, Tripartite Agreement Exhibit AW-1/9, Special Power of Attorney Exhibit AW-1/10, Affidavit cum Undertaking Exhibit AW-1/11, Permission to create Mortgage Exhibit AW1/12, Payment Receipts Exhibit AW-1/13(colly), Letter of Lien Exhibit AW-1/14, Legal Notice Exhibit AW-1/15, Letter dated 22.01.2018 with Affidavit Exhibit AW-1/16(colly), Recall Notice Exhibit AW-1/17, Notice dated 14.03.2018 Exhibit AW1/18, Demand Notice with Postal Receipts Exhibit AW1/19(colly), Letter dated 28.09.2018 Exhibit AW-1/20, Legal Demand Notice Exhibit AW-1/21(colly), Statement of Account with certificate under Banker' Book Evidence Act Exhibit AW1/22, Uncharged Interest statement Exhibit AW-1/23, Consolidate Statement of Account Exhibit AW-1/24.

¶38

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.

¶39

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

¶40

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

O.A. 2700 of 2022

ORDER

(I) I, allow this OA and direct the defendants to pay to the applicant bank, jointly or severally, within a period of 30 days, a sum of Rs.48,85,154.37 (Rupees Forty Eight Lacs Eighty Five Thousand One Hundred Fifty Four and paisa Thirty Seven only) as on 25.10.2018 alongwith pendentelite and future interest @10.80% per annum with monthly rest and costs from 26.10.2018 till the date of realization, failing which the aforesaid amount shall be recovered from the sale of the mortgaged Apartment No.1801, 18th Floor, Tower No.B-2, Palace Heights, Plot No.GH-02B, Sector-1, Noida Extension, UP. In case of shortfall, the same shall be recovered from the sale of movable and immovable properties of the defendants.

¶45

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

¶46

(III) Parties are directed to appear before Recovery Officer, DRT I, Delhi on 20.08.2024.

¶47

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

¶48

5-d— ••'__ trr. ) ( 10 -21 '1 (GOVIND BALLABH SHARMA) PRESIDING OFFICER DRT-I, DELHI

¶49

(Dictated and pronounced in open court) Dated: 15.06.2024

Bank of India v. Harendra Kumar

Case brief

What is this about?

What did the court decide?

Bank of India v. Harendra Kumar

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Parties & counsel

Coram

Case details

Similar cases

Prajith Builders and Developers Pvt. Ltd. versus Kerala Gramin Bank

Bank of India versus Chandan Kumar Sahu

Rajan Prabhakar versus Union Bank of India

Hdfc Bank Limited versus Anand Pal Singh

Icici Bank Limited versus Shiv Kumar

Punjab National Bank versus Deepali Enterprises