Allowed

Karur Vysya Bank v. Parveen Malik and Ors.

DRT13 Nov 2025TA/947/2023

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed an original application filed by a bank for recovery of dues and interest against individual borrowers and a builder/developer. As defendants were absent, the application was proved ex-parte, and orders were passed for recovery from the mortgaged property and other assets.

What did the court decide?

Directed defendants to pay Rs.35,58,864.85 with interest and costs within 30 days; recovery from mortgaged flat and other properties if shortfall.

Karur Vysya Bank versus Parveen Malik and Ors. — Banking and Recovery | DRT (2025)

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T.A. No.947 of 2023

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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.947 of 2023

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Karur Vysya Bank Patparganj Road, Near HDFC Bank, Veer Savarkar Block Block U, Shakarpur, Delhi-110092

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Applicant

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Versus

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Sh.Parveen Malik s/o BaIjit Singh Malik R/o H.No.2059, Sector-27-C Sector 19, Chandigarh-160019

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JSS Buildcon Pvt. Ltd. Through its Directors Registered Office: 1/10243, Gali No.1, Gorakh Park, Shandara, Delhi-110032

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Also at:

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GH-02/C, Sector-01, Greater Noida, West Uttar Pradesh-201301 Defendants

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Present: Sh.Sarthak Bhatia, Counsel for the applicant bank

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Date of Reserve: 28.10.2025

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Date of Pronouncement:13.11.2025

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FINAL ORDER

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This original application has been filed by the applicant bank on 17.06.2022 through Shri Bibhuti Kumar, authorized representative of the applicant bank under section 19 of Recovery of Debts and Bankruptcy Act, 1993 against the defendants for recovery of a sum of Rs.35,58,864.85 (Rupees Thirty Five Lacs Fifty Eight Thousand Eight Hundred Sixty Four

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T.A. No.947 of 2023

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and paisa Eighty Five only) as on 12.10.2021 along with pendentelite and future interest @7.20% per annum and penal interest @3% per annum with monthly rests from 13.10.2021 till the date of realization and costs.

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The brief facts of the case are that on the request of defendant no.1 vide loan application along with builder buyer agreement dated 07.03.2019, the applicant bank sanctioned housing loan facility for a sum of Rs.32,40,496/- (Rupees Thirty Two Lacs Forty Thousand Four Hundred Ninety Six only) on 25.03.2019 @10.15% interest per annum with monthly rests to be repayable in 300 EMI of Rs.29,790/- in order to purchase under construction Flat No.T-2/A1-518, 18th Floor, Tower T-2, Plot No.GH-02C, Sector-1, Block 5, Greater Noida, UP from the defendant no.2, being developer/builder of the project. The defendant no.1 agreed to pay penal interest @3% per annum in case of default in repaying instalment/interest.

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3.. That in order to avail the housing loan facility, the defendant No.1 submitted loan application form for housing loan with KYC related documents and executed Sanction Letter, Housing Loan Agreement, Agreement cum Undertaking to create Mortgage, Letter of Undertaking and Documents Execution Certificate on 25.03.2019 along with defendant no.1 & 2 executed Tripartite Agreement dated 19.03.2019 between with applicant bank.

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That as per Tripartite Agreement dated 19.03.2019, defendant no.2 assured to deliver complete flat within 4 years 6 months with grace period of 9 months but the defendant no.1 given notice of cancellation of the flat booking but both the defendants are liable to refund the entire disbursed amount to the applicant bank.

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T.A. No.947 of 2023

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That in order to secure the housing loan facility, the defendants executed agreement cum undertaking to create mortgage in respect of property / Flat No.T-2/A1-518, 18th Floor, Tower T-2, Plot No.GH-02C, Sector-1, Block 5, Greater Noida, UP on 25.03.2019 in favour of applicant bank.

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It has been submitted by the applicant that after availing the housing loan facility, the defendants failed to comply with the terms and conditions despite several requests letters, email and reminders. Further, defendant no.1 failed to pay the monthly installments in time and defendant no.2 could not complete the construction of flat financed by the applicant bank. Ultimately, the account was declared NPA on 23.03.2021 by the applicant bank. Hence, the applicant bank has approached this Tribunal for recovery of their dues.

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Notices of this O.A. were issued to the defendants and despite proper service the defendants have chosen to absent from the proceedings. As per order dated 12.09.2025, the defendants have been proceeded ex-parte as they have not appeared before the Tribunal nor written statement, evidence and affidavit of assets have been filed.

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In order to prove its case, the applicant bank has filed its evidence by way of affidavit of Sh.Bibhuti Kumar, authorized representative of the applicant bank who has proved the documents as Power of Attorney Ex.AW-1/1, Builder Buyer Agreement Ex.AW-1/2, Sanction Letter Ex.AW-1/3, Housing Loan Agreement Ex.AW-1/4, Agreement cum Undertaking to create Mortgage Ex.AW-1/5, Tripartite Agreement Ex.AW-1/6, Statement of Account Certified under Banker's Book Evidence Act Ex.AW-1/7(Colly).

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T.A. No.947 of 2023

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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) 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.35,58,864.85 (Rupees Thirty Five Lacs Fifty Eight Thousand Eight Hundred Sixty Four and paisa Eighty Five only) as on 12.10.2021 along with pendentelite and future interest 09.20% p.a. with monthly rests and costs from 13.10.2021 till the date of realization and costs failing which the aforesaid amount shall be recovered from the sale of mortgaged Flat No.T-2/A1-518, 18th Floor, Tower T-2, Plot No.GH-02C, Sector1, Block 5, Greater Noida, UP. In case of shortfall, the same shall be recovered from the sale of movable and immovable properties of the defendants.

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

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T.A. No.947 of 2023

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(III) Parties are directed to appear before Recovery Officer, ERT I, Delhi on 12.01.2026.

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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: 13.11.2025

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Karur Vysya Bank v. Parveen Malik and Ors.

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Karur Vysya Bank v. Parveen Malik and Ors.

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