Allowed

Dcb Bank Limited v. Kamla Singh

DRT28 Mar 2025TA/1403/2022

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed an original application filed by DCB Bank Ltd. for recovery of dues under RDBFI Act and SARFAESI Act. The bank proved the case through documents and the request was granted ex-parte as defendants were absent. The order directs payment of principal, interest, and costs.

What did the court decide?

The defendants are directed to pay Rs. 76,75,907/- along with interest @10.90% p.a. and costs within 30 days. A recovery certificate is to be issued forthwith.

Dcb Bank Limited versus Kamla Singh — Banking and Recovery | DRT (2025)

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T.A. No. 1403 of 2022

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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.1403 of 2022

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DCB Bank Ltd.

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A-Set House, 7/56, 3rd Floor, Desh Bandhu Gupta Road Karol Bagh, New Delhi-110005 Applicant

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Versus

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Kamla Singh & Anr. G-15-16, Meridian View Plaza Alpha 1, Greater Noida Uttar Pradesh -201306

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Also at:

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Kamla Singh H-15, Sector Alpha 2 Greater Noida Rampur Jagir Gautam Budh Nagar Greater Noida, U.P-201306

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Sh.Nirankar Singh G-15-16, Meridian View Plaza Alpha 1, Greater Noida Uttar Pradesh 201306

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Also at:

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Sh.Nirankar Singh H-15, Sector Alpha 2 Greater Noida Rampur Jagir Gautam Budh Nagar, Greater Noida, U.P-201306 Defendants

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Present: Sh. Rustam Singh, Counsel for the applicant bank

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Date of Institution: 11.01.2019

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Date of Pronouncement: 28.03.2025

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5d-

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T.A. No. 1403 of 2022

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FINAL ORDER

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This original application has been filed by the applicant bank before DRT-III Delhi on 11.01.2019 and then tralisferred to DRT-I through Mr. Shyamsunder Chandhok, authorized representative of the applicant bank under Section 19 of Recovery of Debts Due to Banks and Financial Institutions Act, 1993 against the defendants for recovery of a sum of Rs.76,75,907/- (Rupees Seventy Six Lacs Seventy Five Thousand Nine Hundred Seven only) as on 29.12.2018 along with pendentelite and future interest @10.90% per annum with monthly rests from the date of filing of this application till the date of realization along with costs.

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The brief facts of the case are that on the request of the defendants, the applicant bank sanctioned loan against property facility for a sum of Rs.69,39,759/- (Rupees Sixty Nine Lacs Thirty Nine Thousand Seven Hundred Fifty Nir.e only) @10.5% interest per annum to be repaid in 240 Equated Monthly Installments of Rs.69,285/- (Rupees Sixty Nine Thousand Two hundred Eighty Five only) from 04.02.2018 against mortgage of property owned by defendants.

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That in order to avail the loan facility, the defendants executed Loan Agreement in favour of the applicant hank on 30.01.2018 along with Schedule of the loan.

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That in order to secure the loan facility, the defendants created equitable mortgage of the property bearing No.H-15, Sector-Alpha 11, Greater Noida, Uttar Pradesh in favour of the applicant bank by depositing property documents along with Allotment Letter issued by Greater Noida Industrial

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T.A. No. 1403 of 2022

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Development Authority dated 02.05.1994, Copy of Challan Form dated 13.07.2001 and 31.08.2001 issued by Greater Noida Industrial Development Authority, Possession Certificate, General Power of Attorney both dated 13.07.2001, Lease Deed dated 04.03.1998 and Letter dated 27.07.2001 by Greater Noida Industrial Development Authority fvg Babita Talwar by Smt.Amita Goel and Transfer Memorandum dated 23.11.2004 fvg. Nirnak Singh.

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It has been submitted by the applicant bank that after availing the aforesaid loan facility, the defendants failed to comply with the terms and conditions of sanction and failed to deposit monthly installments for regularization of the account with the applicant bank. Ultimately, the applicant bank classified the account as NPA on 01.08.2018 as per RBI guidelines due to non-adherence to financial discipline by the Defendants and issued legal notice dated 29.12.2018 but no response, hence the applicant bank has approached this tribunal for recovery of their dues.

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Notice under Section 13(2) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act 2002 dated 06.08.2018 was issued to the defendants calling upon them to pay the entire outstanding dues with the appkant bank but the defendants did not clear the dues.

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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 13.06.2022, right to file Written Statement by the defendants have been closed and have been proceeded ex-parte.

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T.A. No. 1403 of 2022

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In order to prove its case, the applicant bank has attached the copies of following documents i.e. Loan Application Form, Loan Agreement, Allotment Letter dated 02.05.1994 issues by Greater Noida Industrial Development Authority, Challan Form dated 13.072001, Lease deed dated 04.03.1998, Possession Certificate dated 13.07.2001, General Power of Attorney dated 13.07.2001, Letter dated 27.07.2001, Transfer Memorandum dated 23.11.2004, Notice under section 13(2) dated 06.08.2018 as Annexures from Page no.1 to 74.

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The applicant bank has fully corroborated the averments made in the O.A. Even otherwise the whole case of the applicant bank is based on the documents and the same have been duly approved.

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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.

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ORDER

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I, allow this OA and direct the defendants to pay to the applicant bank, jointly or severally, within a period of 30 days, a sum of Rs.76,75,907/- (Rupees Seventy Six Lacs Seventy Five Thousand Nine hundred Seven only) as on 29.12.2018 together with pendentelite and future interest @10.90% per annum from the date of filing this application till the date of realization

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5d-

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T.A. No. 1403 of 2022

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and costs; failing which the aforesaid amount Fhall be recovered from the sale of mortgaged property bearing no. H-15, Sector Alpha 2, Greater Noida, Uttar Pradesh 201306. In case of shortfall, the same shall be recovered from the sale of movable and immovable properties of the defendant.

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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 27.05.2025.

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

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(Dictated and pronounced in open court) Dated: 28.03.2025

Dcb Bank Limited v. Kamla Singh

Case brief

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Dcb Bank Limited v. Kamla Singh

Case brief

What is this about?

What did the court decide?

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