The DRT allowed an application filed by a bank for recovery of an education loan defaulting on repayments, deciding it ex-parte.
Directing payment of Rs.23,21,476/- along with interest, pendentelites, and future interest.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
T.A. No.353 of 2022
Debts Recovery Tribunal-I, Delhi 4th floor, Jeevan Tara Building, Parliament Street, New Delhi
Presiding Officer: Shri Govind Ballabh Sharma
T.A. No. 353 of 2022
unjab National Bank ircle Sastra Centre, North Delhi urudwara Road, Karol Bagh, ew Delhi-110005 Applicant
ersus Sh. Anurag Jain s/o Sh. Atul Jain Borrower) /o A-24, 2nd Floor, Naveen Shandara ID elhi-110032
Iso at: 76, First Floor, AGCR Enclave elhi-110092
Sh. Atul Jain s/o Late Sh. Atma Ram Jain Co-borrower) /o A-24, 2nd Floor, Naveen Shandara elhi-110032
Iso at: 76, First Floor, AGCR Enclave, elhi-110092
Smt. Indu Jain w/o Atul Jain Co-Borrower) /o A-24, 2nd Floor, Naveen Shandara elhi-110032
Iso at: 76, First Floor, AGCR Enclave, elhi-110092
Deepak Aggarwal (Guarantor) /o C-56, Mahendra Enclave elhi-110033
T.A. No.353 of 2022
Is° at:
-250, New Usmanpur, 1st Pushta elhi-110053 Defendants
resent: Shri Ram Raghvendra Kumar, Counsel for the applicant bank
Date of Institution: 06.07.2021 Date of Pronouncement: 27.02.2025
FINAL ORDER
This original application has been filed by the applicant ank on 06.07.2021 before DRT-III, Delhi & then transferred o DRT-I, Delhi through counsel Sh. Ram Raghvendra Kumar, uthorized representative of the applicant bank under Section 9 of Recovery of Debts Due to Banks and Financial Institutions ct, 1993 against the defendants for recovery of a sum of s.23,21,476/- (Rupees Twenty Three Lacs Twenty One housand Four Hundred Seventy Six only) as on 31.05.2021 ogether with pendentelite and future interest @11.25% per nnum with monthly rest from the date of filing of this pplication till the date of realization and costs.
The brief facts of the case are that on the request of efendant no.1, 2 and 3, the applicant bank sanctioned ducation Loan facility of Rs.7,50,000/- (Rupees Seven Lacs ifty Thousand only) @11.75% interest subject to change from ime to time on 26.08.2009 to pursue the course of UTP StageI in Business and Bachelor of Commerce from University of anitoba, Canada. The loan amount was to be repayable in 84 MI after commencement of repayment i.e. one year or getting ob which is earlier. In case of any default, the defendant will e liable to pay penal interest @2% compounded monthly rest
T.A. No.353 of 2022
y the applicant bank. The defendant no.4 stood as gi !arantor r the education loan facility availed by defendant no.1 from he applicant bank.
In order to avail the credit facility, the defendant no.1, 2 nd 3 executed Sanction Letter dated 26.08.2009, Loan cum uarantee Agreements, Supplementary Agreement and ffidavit / Undertaking dated 27.08.2009 in favour of the pplicant bank. The defendant no.4 executed Letter of uarantee dated 27.08.2009 in favour of applicant bank for the redit facility availed by defendant no.1. Further, the defendant 0.1 and 3 executed Supplementary Agreement on 29.08.2014 or extension in repayment period of the loan.
The defendant executed Balance and Security onfirmation Letter dated 13.03.2015 for Rs.7,49,850/- along ith compounded monthly interest in favour of applicant bank.
It has been submitted by the applicant bank that after vailing the aforesaid loan facility, the defendants miserably ailed and neglected to pay the interest and instalment and ailed to maintain financial discipline as per terms and onditions despite various notices and reminders. The applicant ank classified the account as NPA on 26.10.2016 as per extant BI guidelines and sent various reminders to clear the utstanding dues but neglected by the defendants. Hence, the pplicant bank has approached this tribunal for recovery of its ues from the defendants
Notices of this O.A. were issued to the defendants and espite of proper service the defendants have chosen to absent from the proceedings. As per order dated 22.07.2022, the
T.A. No.353 of 2022
I efendants have been proceeded ex-parte as not appeared efore the Tribunal and even no written statement, evidence nd affidavit of assets have been filed by the defendants.
11 In order to prove its case, the applicant bank has: filed its vidence by way of affidavit of Shri Ram Raghvendra Kumar as uthorized representative of the applicant who has proved the 0 ocuments as Power of Attorney of AR Ex.PW-1/1, Sanction etter Ex.PW-1/2, Loan Agreement Ex.PW-1/3, Agreement of uarantee Ex.PW-1/4, Letter of Undertaking Ex.PW-1/5, upplementary Agreement Ex.PW-1/6, Balance and Security onfirmation Letter Ex. PW-1/7, Statement of Accotint duly ertified under Banker Books of Evidence Act Ex.PW-1/8, eminder Letters Ex.PW-1/9.
The applicant bank has fully corroborated the averments ade in the O.A. Even otherwise the whole case of the pplicant bank is based on the documents and the same have een duly proved.
The case filed by the applicant bank gone unrebutted and here is no question of disbelieving the case of the applicant ank and the applicant bank has proved its case beyond easonable doubts.
In the light of the above discussions, the Original pplication deserves to be allowed.
T.A. No.353 of 2022
ORDER
I, allow this OA and direct the defendants to pay to the pplicant bank, jointly or severally, within a period of 30 days, sum of Rs.23,21,476/- (Rupees Twenty Three Lacs Twenty 0 ne Thousand Four Hundred Seventy Six only) together with endentlite and future interest @11.25% per annum with onthly rests and penal interest from the date of filing of this pplication till the date of realization, failing which the aforesaid mount shall be recovered from the sale of movable and movable properties of the defendants.
II) The recovery certificate be issued forthwith and be sent othe Recovery Officer, Debt Recovery Tribunal-I, Delhi.
III)Parties are directed to appear before the Recovery fficer, DRT I, Delhi on 28.04.2025.
IV)Copies of final order as well as Recovery Certificate are o be sent to all concerned free of cost.
•v)"-- (GOVIND BALLABH SHARMA) PRESIDING Oi'FICER DRT-I, DELHI
Dictated and pronounced in open court) ated: 27.02.202E
1 issue framed by the court
Whether the Original Application for recovery of loan dues deserves to be allowed in the absence of appearance by the defendants.
1 provisions across 1 enactments
United Bank of India
Anurag Jain
Atul Jain
Indu Jain
Deepak Aggarwal
Govind Ballabh Sharma
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
