Allowed

Noble Co-Opretive Bank Ltd. v. Mahesh Kumar Sharma

DRT22 May 2026OA/758/2023

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the Original Application filed by Noble Co-operative Bank Ltd. for recovery of a loan against property totaling Rs. 45,12,315 along with interest and costs. The debtor, appearing ex-parte, failed to rebut the bank's documentary evidence proving the loan facility, mortgage execution, and default. The Tribunal directed the respondent to pay the principal, interest, and costs within 30 days or have the amount recovered from the sale of mortgaged and other properties. A recovery certificate was directed to be issued to the Recovery Officer.

What did the court decide?

Recovery of sum of Rs.45,12,315 along with pendentelite and future interest @16.50% p.a. plus costs; direction for issuance of Recovery Certificate to Recovery Officer; direction for sale of mortgaged and other properties in case of shortfall.

Noble Co-Opretive Bank Ltd. versus Mahesh Kumar Sharma — Execution and Attachment | DRT (2026)

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O.A. No. 758 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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O.A. No. 758 of 2023

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Noble Co-operative Bank Ltd.

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1st Floor, M.P.Road-1, Raghunathpur, Sector-22, Noida UP-201301 Applicant

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Versus

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Sh.Mahesh Kumar Sharma s/o Phool Singh Sharma R/o 158, Sharda Niketan, Pitampura Delhi-110034

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Defendant

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Present: Sh.Govind Bhardwaj, Counsel for the applicant bank

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Date of Reserve: 05.05.2026 Date of Pronouncement: 22.05.2026

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FINAL ORDER

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This original application has been filed by the applicant on 11.09.2023 through Shri Mehar Singh, 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.45,12,315/- (Rupees Forty Five Lacs Twelve Thousand Three Hundred Fifteen only) as on 31.07.2023 together with pendentelite and future interest @16.50% per annum along with additional penal interest @2.5% per month over default amount till its realization along with costs.

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O.A. No. 758 of 2023

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The brief facts of the case are that at the request of defendant, the applicant bank sanctioned Loan Against Property (LAP) facility of Rs.10,00,000/- (Rupees Ten lacs only) for personal obligation on 31.03.2014 @16.50% interest which was repayable in 60 EMIs of Rs.24,600/- against property situated at Plot No.6, Khasra No.827/1, 828/2, 829 Village Mahipalpur, Tehsil Mehrauli, New Delhi and disbursed an amount of Rs.4,00,000/- on 31.03.2014 in the account of defendant.

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In order to avail the loan against property, the defendant executed Loan application dated 31.03.2014, Sanction Letter, General Term Loan Agreement, Equitable Mortgage Form, Security Documentation Kit for Rs.10.00 lacs on 31.03.2014 in favour of applicant bank.

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That in order to secure the said loan facility, the defendants mortgaged their property situated at Plot No.6, Khasra No.827/1, 828/2, 829 Village Mahipalpur, Tehsil Mehrauli, New Delhi with the applicant on 31.03.2014 by depositing sale deed dated 30.07.1997.

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It has been submitted by the applicant that after availing the aforesaid loan against property facility, the defendant failed to fulfill its obligation and commitments and account turned irregular. The applicant bank tried to contact thru personal visits, notices, emails for regularization of the account but all went in vain and defendant neglected. The applicant bank classified the account as NPA on 31.12.2014 as per RBI guidelines and issued legal demand notice dated 20.06.2023 to the defendant but no response.

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O.A. No. 758 of 2023

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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 14.01.2026, the defendant has 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 Shri Mehar Singh, authorized representative of the applicant who has proved the documents such as Letter of Authorization Exhibit-Al, Loan Application Form Exhibit-A/2„ Loan Sanction Letter Exhibit-A/3, Equitable Mortgage Form Exhibit-A/4, General Term Loan Agreement and Security Documentation Kit along with other documents Exhibit-A/5, NPA Certificate Exhibit-A/6, Legal Demand Notice Exhibit-A/7, Statement of Loan Account Exhibit-A/8, Foreclosure Statement Exhibit-A/9 and Foreclosure Letter Exhibit-A/10.

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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.

Sd-

O.A. No. 758 of 2023

ORDER

allow this OA and direct the defendant to pay to the applicant bank within 30 days, a sum of Rs.45,12,315/(Rupees Forty Five Lacs Twelve Thousand Three Hundred Fifteen only) as on 31.07.2023 together with pendentelite and future interest @16.50% per annum from the date of filing of this O.A. till the date of realization along with costs. In case of shortfall, the aforesaid amount shall be recovered from the sale of mortgage property bearing Plot No.6, Khasra No.827/1, 828/2, 829 Village Mahipalpur, Tehsil Mehrauli, New Delhi. In case of shortfall, the same shall be recovered from the sale of movable and immovable properties of the defendant.

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

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(III) Parties are directed to appear before Recovery Officer, DRT I, Delhi on 21.07.2026.

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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: 22.05.2026

Noble Co-Opretive Bank Ltd. v. Mahesh Kumar Sharma

Case brief

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Noble Co-Opretive Bank Ltd. v. Mahesh Kumar Sharma

Case brief

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What did the court decide?

What the court decided

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