Allowed

State Bank of India (e-State Bank of Patiala) v. Smt. Alka Jain

DRT23 Dec 2024TA/409/2023

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed the bank's original application for recovery of due loans. The court directed defendants to pay the outstanding principal, interest, and costs within 30 days, with a direction to recover dues from mortgaged property in case of default.

What did the court decide?

Directed defendants to pay Rs.52,84,357.08 with interest and costs within 30 days; recovery from sale of mortgaged property in case of shortfall.

State Bank of India (e-State Bank of Patiala)… — Contract and Commercial Disputes | DRT (2024)

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T.A. No.409 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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T.A. No. 409 of 2023

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State Bank of India (e-State Bank of Patiala) Stressed Assets Recovery Branch-II SBI House, 18/4, 4th Floor, Arya Samaj Road, Karol Bagh New Delhi-110005 Applicant

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Versus

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Smt. Alka Jain w/o Arun Jain R/o E-232, Ground Floor, Block E Swarn Jayanti Puram, Ghaziabad, UP.

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Also at: C-392, Sector-22 Noida, UP-201301 2. Sh.Vijyant Jain s/o late V.K.Jain E-232, Ground Floor, Block E Swaran Jayanti Puram, Ghaziabad, UP

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Also at: Sh.Vijyant Jain s/o late V.K.Jain C-392, Sector 22 Noida, UP-201301

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Also at: Sh.Vijyant Jain s/o late V.K.Jain C-87, Surya Nagar, Ghaziabad, UP Defendants Present: Mr Jai Mohan, Counsel for the applicant bank Date of institution: 24.09.2019 Date of Pronouncement: 23.12.2024 5d

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T.A. N o.409 of 2023

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FINAL ORDER

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This original application has been filed by the applicant bank on 24.09.2019 through Shri Naresh Kumar, authorized 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.52,84,357.08 (Rupees Fifty Two Lacs Eighty Four Thousand Three Hundred Fifty Seven & paisa Eight only) along with pendentelite and future interest @9.20% per annum with monthly rest 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 the defendant no.1 vide loan application dated 18.04.2009, the applicant bank sanctioned housing facility for Rs.29,00,000/(Rupees Twenty Nine Lacs only) on 22.04.2009 and another loan of Rs.10.00 lacs on 25.05.2009 @9.75% rate of interest per annum for purchasing Ground Floor property bearing no. E-232, Swaran Jayanti Puram, Ghaziabad, UP. The defendant no.2 stood as guarantor for the housing loan facilities availed by defendant no.1 from the applicant bank.

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That in order to avail both the said loan facilities, the defendant no.1 submitted home loan application dated 18.04.2009 and executed Arrangement Letters for both the limits, Memorandum of Agreement for Home Loan, Consent for Disclosure of Information on 22.04.2009 and 25.05.2009 respectively as well as the defendant no.2 executed Guarantee Agreement in favour of applicant bank.

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That in order to secure the loan facility, the defendant no.1 created equitable mortgage of property being Ground Floor of property bearing no.E-232, Swaran Jayanti Puram,

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T.A. No.409 of 2023

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Ghaziabad, UP admeasuring 160 sq.meters along with Agreement to Sell dated 01.04.2009, Agreement to Mortgage, Memorandum of Deposit of Title Deeds, Sale Deed bearing Document No.2398, Leaf of Recital Register all dated 22.04.2009 by deposit of title deeds vide Memorandum of Deposit dated 22.04.2009. The defendant no.1 executed Affidavit dated 19.05.2009 declaring the property as encumbered and free from any charges etc.

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The defendant no.1 acknowledged the debt vide Balance Confirmation cum Acknowledgement of Security Letters dated 21.03.2012 and 01.03.2015 in favour of the applicant bank.

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It has been submitted by the applicant bank that after availing the housing loan facility, the defendants failed to maintain financial discipline and violated the sanction stipulations. The defendants failed to pay the installments and interests in time due to which the accounts became overdue. The applicant bank requested through various letters and personal visits for regularization of the accounts but defendants did not bother to regularize the accounts nor liquidated the dues of the applicant bank. Ultimately, the applicant bank classified the account as NPA on 30.04.2017 as per RBI guidelines and issued demand notice dated 16.11.2017 but defendants failed to comply the notices issued, hence the applicant bank has approached this Tribunal for recovery of their dues.

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The applicant bank issued Notice under Section 13(4) of SARFAESI Act 2002 dated 24.10.2017 and under Rule 8(6) of Security Interest (Enforcement) Rules issued to the defendants calling upon them to pay the entire outstanding dues with the applicant bank. sd

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T.A. No.409 of 2023

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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 02.04.2024, 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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In order to prove its case, the applicant bank has filed its evidence by way of affidavit of Shri Naresh Kumar, authorized representative of the applicant bank who has proved the documents as Gazette Notification Ex.AW1/1 & AW1/2, Home Loan Application Ex.AW1/3, Sanction cum Arrangement letter Ex.AW1/4 & AW1/5, Memorandum of Agreement Ex.AW1/6, Consent for Disclosure Ex.AW1/7 & AW1/8, Guarantee Agreement Ex.AW1/9, Agreement to Sell Ex.AW1/10, Agreement to Mortgage Ex.AW1/11, Memorandum of Deposit of Title Deed Ex.AW1/12, Sale Deed Ex.AW1/13, Leaf of Recital Register Ex.AW1/14, Affidavit Ex.AW1/15, Balance Confirmatory cum Acknowledgment of Security Ex.AW1/16 & AW1/17, Demand Letter Ex.AW1/18, Notice u/s 13(4) Ex.AW1/19, Notice under Rule 8(6) Ex.AW1/20, Statement of Account Ex.AW1/21 & AW1/22, Notional Statement Ex.AW1/23 & AW1/24, Calculation Sheet of Outstanding Dues Ex.AW1/25.

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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.

s --

T.A. No.409 of 2023

ORDER

I, allow this OA and direct the defendants to pay to the applicant bank within a period of 30 days, jointly or severally, a sum of Rs.52,84,357.08 (Rupees Fifty Two Lacs Eighty Four Thousand Three Hundred Fifty Seven & paisa Eight only) along with pendentelite and future interest @9.20% per annum with monthly rest from 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 being Ground Floor of property bearing no.E-232, Swaran Jayanti Puram, Ghaziabad, UP admeasuring 160 sq.meters. In case of shortfall, the same shall be recovered from the sale of movable and immovable properties of the defendants.

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(II) The recovery certificate be issued forthwith and be sent to 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 21.02.2025.

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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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5d^- 'r-e-5:01A1

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

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(Dictated and pronounced in open court) Dated: 23.12.2024

State Bank of India (e-State Bank of Patiala) v. Smt. Alka Jain

Case brief

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State Bank of India (e-State Bank of Patiala) v. Smt. Alka Jain

Case brief

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