Allowed

Punjab National Bank v. Amreen Begum Shaikh Mohammad Noor

DRT20 Aug 2025OA/711/2024

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal considered an original application filed by Punjab National Bank for recovery of Rs. 25,80,830.33 along with future interest from borrowers who defaulted on a home loan. The respondents failed to appear. The court allowed the application, directing the respondents to pay the principal amount with future interest at 6% p.a. secured on their mortgaged property.

What did the court decide?

Directing respondents to pay Rs. 25,80,830.33 plus future interest at 6% p.a. simple from 06.08.2024 until full realization.

Punjab National Bank versus Amreen Begum Shaikh… — Contract and Commercial Disputes | DRT (2025)

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Presented on: 06.08.2024 Registered on: 05.09.2024 Decided on: 20.08.2025 Duration: Y M D 01 00 14

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IN THE DEBTS RECOVERY TRIBUNAL AT AURANGABAD (Before Dr. J. R. Chauhan Presiding Officer) ORIGINAL APPLICATION No. 711/2024

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Punjab National Bank

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TOTAL CLAIM AMOUNT – Rs. 25,80,830.33/-

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A body corporate constituted under the Banking Companies (Acquisition & Transfer of undertakings)

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Act, 1970 and having its Head Office at Plot No.4, Sector-10, Dwarka, New Delhi-110075, having branches amongst other places at CIDCO Chh. Sambhajinagar through its Authorised Person Mr. Deepak Mahadev Yelane, Age: 36 years, Occ.: Service, R/o.: CIDCO Chh. Sambhajinagar 431001

… Applicant

Versus

(OA No.711/2024)

Page 1 of 8

[AMBADAS]

Mrs. Amreen Begum Shaikh Mohammad Noor Age: Major, Occu.: Self Employed. R/o.: At House No. 5-4-14, Peer Bazar Road, Near Sagar Hotel, Chh. Sambhajinagar 431001 AND/OR

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Mrs. Amreen Begum Shaikh Mohammad Noor Age: Major, Occu.: Self Employed R/o.: At Flat No. B-09, Narhari Grushneshwar Tq & Dist. Chh. Sambhajinagar 431136

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Mr. Shaikh Mohammad Noor Mohammad Javed Age: Major, Occu.: Self Employed. R/o.: At House No. 5-4-14, Peer Bazar Road, Near Sagar Hotel, Chh. Sambhajinagar 431001 AND/OR

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Mr. Shaikh Mohammad Noor Mohammad Javed Age: Major, Occu.: Self Employed R/o.: At Flat No. B-09, Narhari Grushneshwar Tq & Dist. Chh. Sambhajinagar 431136

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…Defendants

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APPEARANCES For the Applicant Mr. K. D. Pande Advocate For Defendants Ex-parte

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JUDGMENT Delivered on 20.08.2025

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The Applicant Bank has filed the present application for the

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recovery of a sum of Rs. 25,80,830.33/- (Rupees Twenty Five Lacs

(OA No.711/2024)

Page 2 of 8

[AMBADAS]

Eighty Thousand Eight Hundred Thirty and Thirty Three Paisa only), along with further interest from the date of filing of the Original Application, i.e., 06.08.2024, until the date of realization of the entire outstanding dues from the Defendants.

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Brief facts of the application are as under:

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That, the Defendant No. 1 & 2 had approached to the Applicant bank and requested to sanction a Home Loan. Upon considering the request and need of the defendants, the Applicant Bank sanctioned a Home loan of Rs. 23,20,000/- lacs vide sanction letter dated 01.02.2022 on certain terms and conditions. The agreed rate of interest was @ 7.00% p.a. with monthly rests. The defendants also agreed to pay an additional interest by way of liquidated damages @ 2% p.a. in case of default in repayment.

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In order to secure the aforesaid loan facility, the Defendants executed various loan documents in favour of the Applicant Bank, including the sanction letter, agreement of housing loan, demand promissory note, letter of undertaking, letter of

(OA No.711/2024)

Page 3 of 8

[AMBADAS]

undertaking, registered deed bearing daybook no. 939 dated

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18.02.2022 etc in favour of the Applicant Bank.

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The Applicant Bank further contends that, in order to secure the Housing Loan sanctioned to them, the Defendants created an equitable mortgage over their immovable property by deposit of a registered deed bearing daybook no. 939 dated 18.02.2022, in

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favour of the Applicant Bank. The mortgage was created in respect of the following property –

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All that piece & parcel of Flat No. B-09 admeasuring 80.94 sq.mtrs. built up area on stilt 2^nd floor, Building Wing-B, in the scheme known as Narhari Grushneshwar, constructed on land bearing Gut No. 154/P situated at Mitmita Tq & Dist. Aurangabad which is bounded as under:

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East :- Passage & Staircase West :- Open to Sky North:- Flat No. B-10 South :- Wing A

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The applicant bank contended that the defendants have failed to

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keep their promise and commitments agreed by them with regard to due repayment of the loan amount. The defendants

(OA No.711/2024)

Page 4 of 8

[AMBADAS]

failed to operate the loan account properly and failed to pay the agreed rate of interest as per terms and conditions of the sanction letter. Thereafter, the applicant bank repeatedly made demand of loan amount and called upon the defendants to pay with the agreed rate of interest thereon, but the defendants failed and neglected to pay the same. The loan account of the defendants became irregular and classified as NPA on 01.03.2023. Therefore, on 27.12.2023 the applicant bank issued legal Notice to the defendants. The defendants failed and neglected to repay the outstanding dues of the applicant Bank. Hence, this application is filed.

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The defendant failed to appear in matter though they were served through summons. Hence, the defendants were proceeded ex-parte as per Order dated 02.04.2025.

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The applicant Bank has filed Claim Affidavit of evidence at Exhibit-4 of Mr. Deepak Mahadu Yelane, Senior Manager of the applicant Bank, and has produced on record the original loan transaction documents as Exh. A-1 to A-19 as per list of

(OA No.711/2024)

Page 5 of 8

[AMBADAS]

documents Exh. 5 which corroborates the case of the applicant Bank.

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I have heard arguments of the learned Advocate for the applicant Bank.

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Since the defendants failed to appear and contest the application, I find no reason to disbelieve the unrebutted evidence of the applicant Bank. Therefore, the applicant Bank is entitled for the reliefs as claimed.

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The applicant Bank has claimed charge over immovable property of the borrowers which is mortgaged in favour of the applicant bank.

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The applicant Bank has claimed future interest @ 7.00% per annum with monthly rests on the loan from the date of filing i.e. 06.08.2024 of this application till realization of the claim amount. However, considering the facts of the case, I am of the opinion that if future interest is granted @ 6 % per annum (simple), it would be just and reasonable rate of interest.

(OA No.711/2024)

Page 6 of 8

[AMBADAS]

ORDER

(A) Original Application No.711/2024 is allowed with costs.

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(B) The defendants shall jointly and severally pay to the applicant Bank a sum of Rs. 25,80,830.33/- (Rupees Twenty Five Lacs Eighty Thousand Eight Hundred Thirty and Thirty Three Paisa only), along with future interest @ 6 % per annum (simple) from the date of filing of the Original Application i.e. 06.08.2024 till full payment/realization of the amount mentioned in this operative order.

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(C) The aforesaid adjudicated amount is secured by the mortgaged of the following immovable property vide registered deed of assignment bearing daybook no. 939 dated 18.02.2022 at Exh. A-10 in list of documents Exh. 5.

(OA No.711/2024)

Page 7 of 8

[AMBADAS]

154/P situated at Mitmita, Tq & Dist. Aurangabad which is bounded as under:

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East :- Passage & Staircase West :- Open to Sky North:- Flat No. B-10 South :- Wing A

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(D) The applicant Bank is entitled to sell the mortgaged immovable property and hypothecated articles/goods, to recover its dues.

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(E) Issue Recovery Certificate accordingly.

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(F) The Registrar is directed to send the copy of the Judgment and Recovery Certificate to the applicant and defendants.

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(G) File be consigned to the record room.

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Pronounced in open court. (Dr. J. R. Chauhan) Place: Aurangabad Presiding Officer Date:. 20.08.2025 Debts Recovery Tribunal, Aurangabad

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(OA No.711/2024)

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Page 8 of 8

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[AMBADAS]

Punjab National Bank v. Amreen Begum Shaikh Mohammad Noor

Case brief

What is this about?

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Punjab National Bank v. Amreen Begum Shaikh Mohammad Noor

Case brief

What is this about?

What did the court decide?

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