Allowed

State Bank of India v. Sh.Rajender Singh

DRT6 Jun 2024TA/2822/2022

Case brief

AI extract

What is this about?

The Debt Recovery Tribunal allowed the bank's original application filed under Section 19 of the RDB Act. The respondents were directed to pay the principal amount, interest, and costs within 30 days. Failure to comply would result in the recovery of funds through the sale of mortgaged or other properties.

What did the court decide?

Direction to pay Rs. 32,86,458/- plus interest at 9.55% p.a. and costs within 30 days, failing which recovery from sale of properties.

State Bank of India versus Sh.Rajender Singh — Contract and Commercial Disputes | DRT (2024)

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T.A. No. 2822 of 2022

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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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T.A. No. 2822 of 2022

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State Bank of India SARB Branch 23, Najargarh Road New Delhi — 110015

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Applicant

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Versus

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Sh. Rajender Singh s/o Ram Dass D-189/B, Krishna Park Devli Road, Khanpur Pushpa Bhawan New Delhi-110062

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Also at:

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Innovations Space Designers Pvt.Ltd. L-1, Sarita Vihar, New Delhi-110076

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Elegant Infracon Pvt.Ltd. 177, 1st Floor, Hargovind Enclave Delhi-110092

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Also at: Site Office: Plot No.GH-06B, Techzone-IV Greater Noida, UP Defendants

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Present: Shri Pradeep Dhaka, Counsel for the applicant bank

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Date of Institution: 03.06.2021 Date of Pronouncement: 06.06.2024

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FINAL ORDER

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This original application has been filed by the applicant bank on 03.'06.2021 thrOugh Shri Bishan Pal, authorized

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T.A. No. 2822 of 2022

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representative of the applicant bank under Section 19 of Recovery of Debts and Bankruptcy Act, 1993 against the defendants for recovery of a sum of Rs.32,86,458/- (Rupees Thirty Two Lacs Eighty Six Four Hundred Fifty Eight only) as on 12.05.2021 together with pendentelite and future interest @7.55% per annum and 2% penal interest with monthly rest from the date of filing of this O.A. along with cost and expenses. Further, the name of Sh.Jagpal Singh was substituted as authorized representative in place of Sh.Bishan Pal, erstwhile AR for the applicant bank

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The brief facts of the case are that at the request of defendant No.1, the applicant bank sanctioned Housing Loan of Rs.30,00,000/- (Rupees Thirty Lacs only) under SBI Home Loan scheme on 07.06.2018 @8.40% interest to be repayable in EMI of Rs.23,955/- for purchasing under construction Flat being constructed by defendant no.2.

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That in order to avail the said housing loan facility, the defendant no.1 executed Loan Application dated 07.05.2018, Loan Arrangement Letter, Loan Agreement, Agreement to Mortgage dated 07.06.2018 and Tripartite Agreement dated 24.05.2018.

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It has been submitted by the applicant bank that in order to secure the aforesaid loan facility, the defendant no. 1 mortgaged the flat by deposit of title documents of Flat No. A- 2103, Type-I, 21st Floor, Block-A, Elegant Ville, Plot No.GH06B, Techzone-IV, Greater Noida, UP with the applicant bank on the basis of No Objection Certificate dated 24.05.2018 issued by defendant No.2.

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As per Tripartite Agreement dated 24.05.2018, Defendants agreed that the applicant bank will have first and

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T.A. No. 2822 of 2022

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paramount lien on the said Flat and over the money paid by the applicant bank. In the event of default by defendants no.1, at the request of the applicant bank, defendant no.2 under obligation shall cancel the booking and shall pay the entire money so received by it from defendant no.1 to the Applicant Bank

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It has been submitted by the applicant bank that after availing the aforesaid loan facility, the defendants failed to comply with the terms and conditions and despite of several requests and reminders, the defendants failed to pay the outstanding dues in time to the applicant bank. Ultimately, the applicant bank declared the account as NPA on 01.04.2021 and legal notice was issued on 12.05.2021 calling upon the defendant no.2 to cancel the booking and pay the entire outstanding dues to the applicant bank but the defendants did not clear the dues of the applicant bank and 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 of proper service, the defendants have chosen to absent from the proceedings. As per order dated 04.04.2024, the defendants have been proceeded ex-parte as not appeared before the tribunal and even no written statement, evidence and affidavit of assets have been filed by the defendants.

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In order to prove its case, the applicant bank has filed its evidence by way of affidavit of Shri Bishan Pal, authorized representative of the applicant bank who has proved the documents as Gazette Notification Ex-AW1/1(colly), Loan Application Ex-AW1/2, Loan Arrangement Letter Ex-AW1/3, Agreement for Home Loan Ex-AW1/4, Agreement to

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T.A. No. 2822 of 2022

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Mortgage Ex-AW1/5, Permission to Mortgage Ex-AW1/6, Builder Buyer Agreement Ex-AW1/7, Tripartite Agreement ExAW1/8, Demand Notice & Postal Receipts Ex-PW1/9 to ExPW1/12, Statement of Account Ex-PW1/13.

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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 and the applicant bank has proved its case beyond reasonable doubts.

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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) I, allow this OA and direct the defendants, jointly or severally, to the applicant bank, within a period of 30 days, a sum of Rs.32,86,458/- (Rupees Thirty Two Lacs Eighty Six Four Hundred Fifty Eight only) as on 12.05.2021 together with pendentelite and future interest @9.55% per annum from the date of filing of this O.A. till the date of realization with costs failing which the aforesaid amount shall be recovered from the sale of the mortgaged Flat No. A-2103, Type-I, 21st Floor, Block-A, Elegant Ville, Plot No.GH-06B, Techzone-IV, Greater Noida, UP. In case of default, the same shall be recovered from the sale of moveable and immovable property of the defendants.

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T.A. No. 2822 of 2022

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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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(Ill) Parties are directed to appear before Recovery Officer, DRT I, Delhi on 05.08.2024.

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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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_S^d (GOVIND BALLABH SHARMA) PRESIDING OFFICER DRT-I, DELHI

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(Dictated and pronounced in open court) Dated: 06.06.2024

State Bank of India v. Sh.Rajender Singh

Case brief

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State Bank of India v. Sh.Rajender Singh

Case brief

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