The DRT disposed of the application allowing the insurance company to pay the claim to the bank to adjust the loan amount, with excess returned to the applicant and balance due from other borrowers.
Insurance company directed to pay insured amount to bank for loan adjustment; excess to be returned to applicant.
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Debts Recovery Tribunal-Il, Delhi
G E ErANrAL,fl-,H 11'J l'ff vs A DrryA Br RLA HOUSING FINANCE LIMITED
27.08.2025
Item no. 25
Present: lfrinanjeetKumar Singh, counsel for appticant. Shri Ashish K. Singh, counsel fo, rerpfri"nt no. 1.
shri Kamar Deep, counser for respondent no. 2. Matter is taken through Video conferen cing/Hybrid Mode.
The Ld. counser for the respondent no. 2 has submitted that he has ready to pay the amount of the insurance to the respondent bank as he has a privity of a contract with the respondent bank. The Respondent bank has no objection, if the respondent no.2/insurance company pays the amount to the bank.
The borrower has avaited the toan and during the pendenry of the loan, one of the borrowers has expired. Therefore, the insurance company is paying the insurance amount. In such circumstances, the insurance company is directed to pay the insure amount to the bank and bank will adjust the amount against the loan taken by the borrowers. If any excess amount is received by the bank, then the bank shall return the same to the applicant and if any amount remains due, the other borrower will pay in accordance with the agreement between the applicant and respondent bank.
In view of the above submission, the sA no.L30lz025 is disposed of and Noc will also be issued to the applicant in accordance with banking rules.
File be consigned to records.
P
(SUSHIL KU MAR:RASTOGI)^ PRESIDING OFEICER DRT-II, Delhi
GE ERANAL
ADRIYA BR RLIA HOUSING FINANCE LIMITED
SUSHIL KUMAR RASTOGI
As recorded by the court registry
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