Suo motu allowed this T.A. filed by the bank as a special case, directing the builder to pay the outstanding dues. The court held the builder liable to return amounts received from the borrower due to the borrower's default.
Direct defendant no.2 to pay Rs.84,90,662 along with interest and cost within 30 days; property to be sold in case of failure.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
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Before SUSHIL KUMAR RASTOGI,Presiding Officer Debts Recovery Tribunal'Il, Delhi
TA No.702 OF 2023
CENTRAL BANK OF INDIAVS BARDAN THAPA& ANR.
Reserued on =25.07.2024
Pronounced onz 24.09.2024
Central Bank ofIndia
-Applicant bank
Vs.
Present: Mr. AvinashKashyap, Counsel appearsfor applicant bank. None for defendants.
FINAL ORDER
This original applicationhas been filed by the applicant bank,on lg.O2'2020through Shri Vinod Kumar Soni,Senior Manager of the applicantban( under Section19 of the Recovery of Debts and BankruptcyAct, 1993 against the defendant no' 1 & 2 for recovery ofa sum of Rs'84,90,662/- together with cost, chargesand pendentellite and future interest @ 9.7o/op.a. from date of filing of this T'A' till the realizationin full.
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TA NO.702of2023 2
Noida, Greater Noida- 201301.In order to avail the said loan facility the defendantno. t has executed various loaning documents dated07.01.2015. A Tripartite Agreement dated 07.01.2016has been executed between defendantno. 1, applicantbank and defendantno. 2.
TANO.702of2023 3
Agreement with the builder along withthe borrower. Para 4 of the Tripaftite agreementis as follows:-
"In the event of default of repayment ofloan and/or the borrower committingany defaultwhich makesthe Borrower liable for the repaymentof the entire amount outstandingthe said loan as per the terms of the toan Agreement executdbetwenthe Bonower and the ban& the Buildershall, at Are call of the bantq, be under obligationto cancel the booking and pay all the amounBreceived by the Builder fmm the borrower oron behalf of the Borrower to the bank."
TANO.702of2023 4
been paid to the buider. In addition to this the borrower has also paid the margin money to the builder and also paid certain EMIs as mentioned by the applicant bank. The borrower has not got the possession of the flat. If the borrower is directed to pay the amount which has been actually paid to the builder this will amount double penalty on the borrower. The borrower has received no money and has still paid the margin money and also certain EMIs to the bank and has got in return nothing. In such circumstances and as per agreed terms and conditions it is only the builder who is liable to pay the defaulted amount to the applicant bank.
In the light of the above discussions, the present T.A. deserves to be allowed against defendant no. 2.
ORDER
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TANO.l02of 2023 5
the sale of personal movable and immovable assets of the defendant no. 2.
File be consigned to records.
-\ t-e^
Date:24.09.2024
(SUSHIL KUMAR RASTOGI) PRESIDING OFFICER DRT-II, Delhi
Thisjudgement has been signed, dated and pronounced in open court.
9_r\
Date:24.09.2024
(susHrl KUMAR nnStCjCr) PRESIDING OFFICER DRT-II, Delhi
P
2 issues framed by the court
Whether the builder is liable to repay the outstanding loan amount under the Tripartite Agreement.
Whether the Tribunal can direct recovery from the builders' assets instead of the borrower.
1 provisions across 1 enactments
CENTRAL BANK OF INDIA
BARDAN THAPA
Shubhkamna Buildtech Ltd.
SUSHIL KUMAR RASTOGI
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
