Allowed

Central Bank of India v. Mrs.Sarita Sharma

DRT18 Jan 2025TA/2740/2022

Case brief

AI extract

What is this about?

The Debt Recovery Tribunal allowed the bank's original application for recovery of Rs. 26,22,432/-. The court adjudicated the ex-parte case, directed payment with interest, and ordered the issuance of a recovery certificate.

What did the court decide?

Direct defendants to pay Rs.26,22,432/ plus interest within 30 days; recovery certificate to be issued; amounts recoverable from sale of mortgaged property and defendants' assets.

Central Bank of India versus Mrs.Sarita Sharma — Contract and Commercial Disputes | DRT (2025)

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T.A. No.2740 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 T.A. No. 2740 of 2022
Central Bank of India Bhagirath Place, Chandni Chowk Delhi-110006 Applicant
Versus
1. Mrs.Sarita Sharma w/o Sh.Sunil Sharma R/o H.No.23, Gall No.5, Om Nagar Mohan Nagar, Sahibabad, Ghaziabad-201005
Also at: Plot No.1B, Khasra No.2, Flat No. F-5, 1st Floor MIG Om Nagar, Hadbast Gram, Arthala Sahibabad, Ghaziabad-201007
2. SI-LSunil Kumar Sharma s/o Sudeesh Sharma R/o H.No.23, Gali No.5, Om Nagar Mohan Nagar, Sahibabad, Ghaziabad, UP-201005
Also at: S.K.Fabricators & Contractors Office: 307, Surya Complex, 21, Veer Savarkar Block, Delhi-110092
Also at: Flat No. F-5, Plot No.1B, 1st Floor Om Nagar, Sahibabad, Ghaziabad, UP-201007
3. Sh.Sudeesh Sharma R/o H.No.23, Gali No.5, Om Nagar Mohan Nagar, Sahibabad, Ghaziabad, UP-201005 Defendants
Present: Sh.Devendra Sharma, Counsel for the applicant bank

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T.A. No.2740 of 2022

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Date of Institution: 03.092020

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Date of Pronouncement: 18.01.2025

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FINAL ORDER

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This original application has been filed by the applicant bank on 03.09.2020 through Shri M.K.Gupta, authorized representative of the applicant bank under Section 19 of Recovery of Debts and Bankruptcy Act, 1993 against the defendants for recovery of Rs.26,22,432/- (Rupees Twenty Six Lacs Twenty Two Thousand Four Hundred Thirty Two only) as on 29.07.2020 along with pendentelite and future interest @10.25% per annum with monthly rests from the date of filing of this application till its realization and cost.

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The brief facts of the case are that on the request of defendant no.1 and 2 being borrowers/Co-borrowers vide their loan application dated 17.01.2014, the applicant bank sanctioned housing loan facility of Rs.21,60,000/- (Rupees Twenty One Lacs Sixty Thousand only) @9.10% interest to be repayable in 240 EMI of Rs.21,203/- for purchasing property at Om Nagar Hadbasti, Village Arthala, Ghaziabad under Cent Home Scheme. The defendant no.3 stood as guarantor for the housing loan facility sanctioned by the applicant bank.

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That in order to avail the said loan facility, defendant no.1 and 2 submitted housing loan application on 17.01.2014 and executed Loan Agreement with Schedule, Letter of Interest Variation, Consent Clause on 19.03.2014. The defendant no.3 executed Form of Guarantee for Advances and Credits for the housing loan availed by defendant no.1 and 2 on 19.03.2014.

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T.A. No.2740 of 2022

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That in order to secure the housing loan facility, the defendant no.2 created equitable mortgage of residential property purchased i.e. Flat No.F-5, First Floor (MIG), area measuring 660 sq.ft. without roof / terrace rights, Plot No.1-B, Khasra No.2, Om Nagar Hadbasti, Village Arthala, Dist. Ghaziabad, UP registered as Document No.3740, Book No.1, Vol. No.8210, Page 243 to 326 dated 24.03.2014 with SubRegistrar II, Ghaziabad in favour of the applicant bank on 03.05.2014.

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It has been submitted that after availing the aforesaid loan facilities, the defendants failed to comply with the terms and conditions despite several request letters, the defendants failed to pay the outstanding dues and monthly installments in time to the applicant bank. Ultimately, the account was declared NPA on 01.04.2018 but there was no response from the defendants, hence the applicant bank has approached this Tribunal for recovery of their dues.

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Notice under Section 13(2) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act 2002 dated 02.04.2018 was issued by the applicant bank calling upon the defendants and taken possession of the mortgaged property on 07.06.2018 duly published in newspapers on 13.06.2018.

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Notices of this O.A. were issued and served through all modes but defendants did not appear before this tribunal despite publication notice in newspapers. As per order dated 11.05.2022, the defendants have been proceeded ex-parte as no written statement, evidence and affidavit of assets have been filed.

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T.A. No.2740 of 2022

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In order to prove its case, the applicant bank has filed its evidence by way of filing the original documents as Power of Attorney Annexure A-1, Loan Application Annexure A-2, Sanction Letter Annexure A-3, Loan Agreement Annexure A-4, Letter of Interest Annexure A-5, Form of Guarantee Annexure A-6, Consent Clauses Annexure A-7(Coll.), Title Deeds Annexure A-8, Coy of Equitable Mortgage Annexure A-9, Notice under Section 13(2) Annexure A-10(colly), Possession Notice Annexure A-11, Publication and Sale Notice Annexure A-12 & A-13, Certified Statement of Account Annexure A-14.

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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 proved.

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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.26,22,432/- (Rupees Twenty Six Lacs Twenty Two Thousand Four Hundred Thirty Two only) along with pendentelite and future interest @10.25% per annum with monthly rest from date of filing of this application till the date So

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T.A. No.2740 of 2022

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f realization and costs, failing which the aforesaid amount hall be recovered from the sale of Flat No.F-5, First Floor MIG), area measuring 660 sq.ft. without roof I terrace rights, lot No.1-B, Khasra No.2, Om Nagar Hadbasti, Village Arthala, ist. Ghaziabad, UP. In case of shortfall, the same .hail be ecovered from the sale of movable and immovable properties f the defendants.

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II)^{The recovery certificate be issued forthwith and be sent} o the Recovery Officer, Debt Recovery Tribunal-I, Delhi.

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III)^{Parties are directed to appear before Recovery Officer,} RT I, Delhi on 19.03.2025.

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IV)^{Copies of final order as well as Recovery Certificate be} ent to all concerned free of cost.

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(GOVIND BALLABH SHARMA) PRESIDING OFFICER DRT-I, DELHI Dictated and pronounced in open court) Dated: 18.01.2025

Central Bank of India v. Mrs.Sarita Sharma

Case brief

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Central Bank of India v. Mrs.Sarita Sharma

Case brief

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