Allowed

Central Bank of India v. Sh. Deepak Kumar Soni and Another

DRT24 Jul 2026OA/181/2026

Case brief

AI extract

What is this about?

The Tribunal allowed an ex-parte original application under Section 19 of RDB Act, 1993. It directed recovery of dues plus adjusted simple interest from mortgaged properties and authorized issuance of a Recovery Certificate.

What did the court decide?

Recovery of Rs.32,17,729.31 plus 8% simple interest ordered; Recovery Certificate issued; execution against mortgaged property authorized.

Central Bank of India versus Sh. Deepak Kumar Soni and Another — Banking and Recovery | DRT (2026)

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DEBTS RECOVERY TRIBUNAL-III, CHANDIGARH

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ORIGINAL APPLICATION NO.181/2026

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PRESIDED OVER BY MRIDULESH KUMAR SINGH

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DATE OF INSTITUTION: 29.01.2026

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DATE OF DECISION: 24.07.2026

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Central Bank of India, a body corporate constituted under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970, having its Head Office at Chander Mukhi, Nariman Point, Mumbai - 400021 and amongst other places a Branch Office at Millerganj, District Ludhiana through Sh. Mithlesh Kumar, Chief Manager and duly constituted Attorney, Central Bank of India, Regional Office, Ludhiana.

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……..Applicant

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Versus

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Sh. Deepak Kumar Soni S/o Sh. Shiv Shankar Soni, R/o Street No.8, Aman Nagar, Dhandari Kalan, Ludhiana.

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Smt. Lalita Soni W/o Sh. Deepak Kumar Soni S/o Sh. Shiv Shankar Soni, R/o Street No.8, Aman Nagar, Dhandari Kalan, Ludhiana.

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…….. Defendants

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Advocates:

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Argued by Sh. Rajan Arora, Advocate for the applicant (through VC) None for Defendants (Already ex-parte vide order dated 22.07.2026).

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FINAL ORDER

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Present Original Application was instituted by the applicant under Section 19 of the Recovery of Debts & Bankruptcy Act 1993, against the defendants for recovery of Rs.32,17,729.31 (Rupees Thirty Two Lacs Seventeen Thousand Seven Hundred Twenty Nine and Paise Thirty One Only). The Original Application has been filed through Sh. Mithlesh Kumar, Chief Manager o f the applicant, who is competent to institute the Original Application vide Power of Attorney dated 17.07.2023, which is Annexure A1 to this OA.

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2 OA NO.181/2026 CENTRAL BANK OF INDIA VS SH. DEEPAK KUMAR SONI AND ANOTHER

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The brief facts of the OA are that the defendants approached the applicant for grant of Housing Loan of Rs.25,00,000.00 vide Loan Application Form dated 12.03.2022, which is Annexure A3 to this OA. 3. The applicant sanctioned the Housing Loan of Rs.25,00,000.00 vide Sanction of Housing Loan dated 21.04.2022, which is Annexure A2 to this OA and terms and conditions were duly accepted by the defendants.

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Defendant no.1 mortgaged his Immovable Property i.e., Residential House measuring 100 Square Yards situated at Village Kanganwal, Hadbast No. 245, Sub - Tehsil Sahnewal, District Ludhiana, as per Jamabandi for the year 2015-2016 vide Sale Deed bearing Document No. 2022-23/102/1/565 dated 16.06.2022, along with its translation and Annexure-1 dated 28.06.2022 regarding showing the deposit of Title Deed and Copy of Mortgage Register, which are Annexures A11 to A13 to this OA.

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Documents executed: Valuation Report dated 06.06.2025, which is

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Annexure AA to this OA; Loan Agreement, Supplementary Agreement, Letter of Consent by Borrowers, Letter of Interest, Letter of Authority, Letter of Interest Variation, Declaration and Undertaking, all dated 21.04.2022, which are Annexures A4 to A10 to this OA; Notice u/s 13(2) dated 31.05.2025, which is Annexure A14 to this OA; Possession Notice dated 21.08.2025, which is Annexure A15 to this OA; Legal Notice dated 12.01.2026, along with postal receipts, which are Annexures A16 to A18 to this OA; Statement of Account along with Loan Discharge Statement and certificate, which are Annexures A19 to A21 to this OA.

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The loan account became irregular and was classified as NPA and after adjusting debit and credit entries in the loan account there was a debit of Rs.32,17,729.31, which is recoverable and the defendants were served recall notices but they did not repay the outstanding amount, therefore, the applicant requested to accept the application and to issue Recovery Certificate accordingly.

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3 OA NO.181/2026 CENTRAL BANK OF INDIA VS SH. DEEPAK KUMAR SONI AND ANOTHER

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The defendants were served summons to appear before this Tribunal but no one appeared on behalf of defendants and they were proceeded ex-parte vide order dated 22.07.2026. 7. In support of the OA, affidavit of Sh. Mithlesh Kumar, Chief Manager, Central Bank of India has been filed.

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Heard ex-parte arguments and perused record.

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It was argued by learned counsel for applicant through video conferencing that in view of the documentary evidence brought on record which had gone unrebutted, the applicant had proved its case. From the perusal of all the Annexures AA, A1 to A21 to this OA, it is proved that the defendants a pproached applicant for availing of loan facility which was granted to them and for that they had executed all the relevant documents in favour of the bank. The defendants failed to pay back the loan as per terms and conditions of the agreement between the parties. Subsequently, loan account was classified as NPA. From the documentary evidence brought on record, it is proved that applicant is entitled to recover a sum of Rs.32,17,729.31 (Rupees Thirty Two Lacs Seventeen Thousand Seven Hundred Twenty Nine and Paise Thirty One Only), along with interest from the defendants, jointly and severally, from the date of filing of the present Original Application till realization of the amount. 10. In so far as pendente lite and future rate of interest is concerned, the applicant in relief clause has claimed interest @8.60%p.a. with monthly rests with penal interest @2% from 07.01.2026 till the realization.

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The Tribunal is of the considered opinion that sometimes in appropriate cases the prerogative of mercy is the brightest jewel in the crown of the Judge. Keeping in view the facts and circumstances of the instant case including nature of the mortgaged property, undertaking of the defendants, quantum of loan and prevalent market rates of interest which have gone drastically downhill in yester years, while exercising the discretion vested in this Tribunal, this Tribunal deems it

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4 OA NO.181/2026 CENTRAL BANK OF INDIA VS SH. DEEPAK KUMAR SONI AND ANOTHER

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just and appropriate to grant simple interest @8.00%p.a. in the loan account from the date of filing of the OA till realization of the amount ordered vide this final order. It is ordered accordingly.

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In the result, the application is allowed declaring that the defendants are liable to pay to the applicant sum of Rs.32,17,729.31 (Rupees Thirty Two Lacs Seventeen Thousand Seven Hundred Twenty Nine and Paise Thirty One Only), jointly and severally, with costs, current and future simple interest @8.00%p.a. in the loan account from the date of filing of OA till the date of realization of the amount. Accordingly, the applicant shall be entitled to recover aforesaid amount from the sale of mortgaged property of defendant no. 1 in execution proceedings if not sold earlier under the provisions of the SARFAESI Act, 2002. If the dues of the applicant still remain unsatisfied, it shall be entitled to recover the same by attachment and sale of personal assets of the defendants. The applicant is at liberty to enforce the claim through due process of law. 12. Any other application pending stands disposed of . 13. Issue Recovery Certificate accordingly. 14. Parties to appear before Learned Recovery Officer of this Tribunal on 10.08.2026. 15. Copy of this order be given dasti to the applicant and be sent to defendants through registered/speed post and this order be also uploaded on the official website of this Tribunal and record be consigned. Pronounced by me in the open Tribunal . Dated: 24.07.2026 (MRIDULESH KUMAR SINGH) Presiding Officer, DRT-III, Chandigarh

Central Bank of India v. Sh. Deepak Kumar Soni and Another

Case brief

What is this about?

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Central Bank of India v. Sh. Deepak Kumar Soni and Another

Case brief

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