Allowed

Punjab National Bank (e-Oriental Bank of Commerce) v. Shokin and Ors.

DRT8 Oct 2025TA/3355/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an original application filed by Punjab National Bank for recovery of housing loan dues. The tribunal found the defendants' case unrebutted as they appeared ex-parte. It directed payment of dues with interest and issuance of a recovery certificate.

What did the court decide?

Direct payment of Rs. 13,60,599.79 with interest; issue recovery certificate; recover deficit from property sale.

Punjab National Bank (e-Oriental Bank of Commerce)… — Contract and Commercial Disputes | DRT (2025)

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T.A. No.3355 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. 3355 of 2022

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Punjab National Bank (e-Oriental Bank of Commerce) CSC Complex, East Delhi

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Pocket E, Mayur Vihar Phase II,

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Delhi-110091 Applicant

¶8

Versus

¶9

Sh. Shokin

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B-1/16, DLF Dilshad Extn.-II

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Sahibabad, Ghaziabad, Uttar Pradesh

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Also at:

¶13

Sh. Shokin

¶14

MIG Flat FF1, First floor, Plot No.B-1/154

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DLF, Dilshad Grden Extn. 2

¶16

Village Brahmpur urf Bhopura Pargana Loni, Distt. Ghaziabad, Uttar Pradesh

¶17

Sh. Kamar Saifi

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B-1/16, DLF Dilshad Extn.-II

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Sahiba bad, Ghaziabad, Uttar Pradesh

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Also at:

¶21

Sh. Kamar Saifi

¶22

MIG Flat FF1, First floor, Plot No.B-1/154 DLF, Dilshad Grden Extn. 2 Village Brahmpur urf Bhopura Pargana Loni, Distt. Ghaziabad, Uttar Pradesh

¶23

Sh. Rais Ahmad

¶24

B-1/16, DLF Dilshad Extn.-II Sahibabad, Ghaziabad, Uttar Pradesh Defendants

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Present: Mr. Vipin Jai, Counsel for the applicant bank

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¶27

T.A. No.3355 of 2022

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Date of Reserve: 10.09.2025

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Date of Pronouncement: 08.10.2025

¶30

FINAL ORDER

¶31

This original application has been filed by the applicant bank on 15.06.2019 before DRT-III, Delhi and then transferred to DRT-I, Delhi through Shri Anil Kumar, authorized representative of the applicant bank under Section 19 of Recovery of Debts Due to Banks and Financial Institutions Act, 1993 against the defendant for recovery of Rs.13,60,599.79 (Rupees Thirteen Lacs Sixty Thousand Five Hundred Ninety Nine and paisa Seventy Nine only) as on 10.06.2019 along with pendentelite and future interest @9.75% per annum with monthly rests from the date of filing of this application till the date of its realization and costs.

¶32

The brief facts of the case are that on the request of the defendant no.1 & 2, the applicant bank sanctioned Housing Loan for Rs.11,00,000/- (Rupees Eleven Lacs only) on 29.03.2012 @11% per annum with monthly rests for purchase of residential property at MIG Flat FF1, Plot B-1/54, DLF Dilshad Extension II, Bhopura, Ghaziabad. The defendant no.3 stood as guarantor for the housing loan availed by Defendant no.1 and 2 from the applicant bank. The defendants agreed to pay penal interest @2% over the agreed rate of interest in case of default in repayment.

¶33

In order to avail the housing loan facility, the defendants submitted Agreement for Individual Housing Loan, Agreement of Guarantee, Common Agreement, Agreement of Term loan for Immovable property on 29.03.2012 with the applicant bank.

¶34

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T.A. No.3355 of 2022

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The Defendants also executed Balance and Security Confirmation Letter dated 30.06.2016 towards the applicant bank.

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That in order to secure the loan facility, the defendant no.1 and 2 created equitable mortgage of the property satiated at MIG Flat FF1 (without roof right), Plot no.B-1/154, DLF Dilshad Extn-2, Bhopura, Pargana Loni, Distt. Ghaziabad Uttar Pradesh on 19.05.2012 by depositing original title deeds of the property.

¶38

It has been submitted by the applicant bank that after availing the housing loan facility, the defendants failed to maintain financial discipline and comply with the terms and conditions. Ultimately, the applicant bank classified the account as NPA on 30.07.2016 as per RBI guidelines but defendants failed to regularize the account, hence the applicant bank has approached this tribunal for recovery of its dues.

¶39

Notice under Section 13(2) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act 2002 was issued on 19.01.2017 calling upon them to pay the entire outstanding dues but the defendants did not clear the dues.

¶40

Notices of this O.A. were issued to the defendant and despite proper service the defendant has chosen to absent from the proceedings. As per order dated 14.05.2025, defendants have been proceeded ex-parte as not appeared before the Tribunal nor written statement, evidence and affidavit of assets have been filed.

sd-

T.A. No.3355 of 2022

In order to prove its case, the applicant bank has filed its evidence by way of affidavit of authorized representative Shri Anil Kumar who have proved the various documents such as Power of Attorney, Agreement of Individual Housing Loan, Agreement of Guarantee, Common Agreement, Agreement of Term Loan for Immovable property, Letter for Confirmation of Creation of Equitable Mortgage, Balance and Security Confirmation Letter, Notice u/s 13(2) of SARFAESI Act, Certified Statement of Account in accordance with Bankers' Book of Evidence Act marked as Annexures Al to A9.

¶45

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.

¶46

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.

¶47

In the light of the above discussions, the Original Application deserves to be allowed.

¶48

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.13,60,599.79 (Rupees Thirteen Lacs Sixty Thousand Five Hundred Ninety Nine and Paisa Seventy Nine only) as on 10.06.2019 along with pendentelite and future interest @9.75 % per annum with monthly rests from

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T.A. No.3355 of 2022

¶51

11.06.2019 till its realization with costs, failing which the aforesaid amount shall be recovered from the sale of mortgaged property at MIG Flat FF1 (without roof right), Plot no.B-1/154, DLF Dilshad Extn-2, Bhopura, Pargana Loni, Distt. Ghaziabad, Uttar Pradesh. In case of shortfall, the same shall be recovered from the sale of movable and immovable properties of the defendants.

¶52

(II) The recovery certificate be issued forthwith and be sent to the Recovery Officer, Debt Recovery Tribunal-I, Delhi.

¶53

(III) Parties are directed to appear before Recovery Officer, DRT I, Delhi on 05.12.2025.

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(IV) Copies of final order as well as Recovery Certificate be sent to all concerned free of cost.

¶55

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

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(Dictated and pronounced in open court) Dated: 08.10.2025

¶57

Punjab National Bank (e-Oriental Bank of Commerce) v. Shokin and Ors.

Case brief

What is this about?

What did the court decide?

Punjab National Bank (e-Oriental Bank of Commerce) v. Shokin and Ors.

Case brief

What is this about?

What did the court decide?

What the court decided

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