Axis Bank v. Nikhil Bansal
Case brief
What is this about?
The DRT allowed the bank's application for recovery of a housing loan of approx Rs. 23 lakhs against the borrower and the builder. The court directed payment of dues with interest and issuance of a Recovery Certificate.
What did the court decide?
Recovery of Rs. 23,07,889 with interest @ 9% p.a., enforcement via sale of assets, issuance of Recovery Certificate, and injunction on transfer of properties.
What the court decided
IN THE DEBTS RECOVERY TRIBUNAL AT LUCKNOW
Present: Pravas Kumar Singh, Presiding Officer
Case No. Original Application No.136 of 2024
Dated: 17.10.2025
Axis Bank Ltd.9 having Branch at RAC 1“ FIO(.)rp (J-4/59 B, Sector-4, Gomti Nagar Extension, Lucknow, UP-226010.
. . . . . . ..Applicant Bank
Versus
- Nikhil Bansal, S/o M. Jaipal Singh Bansal, R/o T2-1006, Park View Residency Sector 3 , Palam Vihar (Jurgaon, Haryana- 122017. Also At: A-1806, Prateek Stylome GH-04/B, Sector 46, Noida, UP India-201303 .
- Jayprakash Associate Limited, Reg Office: Jaypee Greens Sector 128, Noida UP201304.
. . . . . . . . . . .Defendants
Ld. Counsel for applicant-bank: Mr.Manu Dixit, Advocate.
Ld. Counsel for the defendant No.1 :None.
Issues for consideration
3 issues framed by the court
Whether the applicant bank is legally entitled to recover the outstanding loan dues from the defendants.
Whether the defendants, including the builder as a co-borrower, are jointly and severally liable for the claim.
Whether the bank is entitled to issue a Recovery Certificate under Section 19 of the Act.
Parties & counsel
- applicant
Axis Bank Ltd.
- respondent
Nikhil Bansal
- respondent
Jayprakash Associate Limited
Coram
Case details
As recorded by the court registry
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