The DRT allowed an application for recovery of dues against two defendants who defaulted on a loan secured by property. The bank's case, proved by documents, was unrebutted as defendants appeared absent. The Court directed payment of principal, interest, and costs.
Defendants directed to pay Rs.73,79,750.01 with interest and costs; recovery certificate issued.
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.
O.A. No. 909 of 2023
Debts Recovery Tribunal-I, Delhi 4th floor, Jeevan Tara Building, Parliament Street, New Delhi
Presiding Officer: Shri Govind Ballabh Sharma
O.A. no. 909 of 2023
DFC First Bank Limited pper Ground Floor no.62/20 pposite to New Prem Dhaba ew Rohtak Road, Karol Bagh New Delhi-110005 Applicant
Versus . Joginder Verma /10276 A, Gali no.1 est Gorakh Park handara, Delhi-110032 . Veena Rani /10276, A, Gali no.1 est Gorakh park ; handara, Delhi-110032 Defendant
resent:Sh. Harshit Singh Sisodia, Counsel for the applicant bank Date of Reserve: 10.02.2026 Date of Pronouncement: 26.02.2026
FINAL ORDER
This original application has been filed by the applicant n 30.10.2023 before DRT-I, Delhi through Shri Ashutosh .harma, authorized representative of the applicant bank under ection 19 of Recovery of the Debts Due to Banks and Financial institutions Act, 1993 to be read with Sub-Section 10 of Section 3 of SARFAESI Act 2002 against the defendants for recovery f Rs.73,79,750.10 (Rupees Seventy Three Lacs Seventy Nine
1
O.A. No. 909 of 2023
housand Seven Hundred Fifty and paisa One Only) as on 0.09.2023 together with pendentelite and future interest at ontractual rate from the date of filing of this application till its ealization along with costs.
The brief facts of the case are that on the request of efendants, the applicant bank sanctioned and disbursed Loan gainst Property facility for a sum of Rs.39,50,000/- (Rupees hirty Nine Lacs Fifty Thousand only) on 16.10.2017 @16.00% i terest per annum, which was to be repayable in 144 Equated Monthly installments of Rs.61851/- against mortgage of roperty.
In order to avail the said loan facility, the defendants ubmitted loan application and executed Loan Agreement with he applicant bank on 2110.2017.
That in order to secure the loan facility, the defendants reated security interest in property being all that piece and 0 arcel of built up Shop on Ground Floor, Shop no.6, Kh. o.1293/698/343, Prop no.1/6596 & Old no.1243, East ohtash Nagar, Illaqa Shandara, Village Sikdarpur, Delhi10032 with the applicant bank on 23.10.2017.
It has been submitted by the applicant that after availing he aforesaid loan facility, the defendants failed to comply with he terms and conditions and despite several request and eminders, the defendants failed to regularize the account with pplicant Bank. The applicant bank classified the account as PA on 31.12.2018 and issued demand notice dated 2.02.2019 u/s 13(2) of SARFAESI Act calling upon the efendants to pay the entire outstanding dues with interest to
2
O.A. No. 909 of 2023
he applicant bank but the defendants did not clear the dues f the applicant bank.
It has been submitted that the after taking physical ossession of mortgaged property, applicant bank conducted uction on 12.03.2022 for Rs.12.00 lacs and issued sale ertificate on 17.05.2022 to the highest bidder. The applicant ank issued demand notice on 10.10.2023 for remaining utstanding after adjustment of sale proceeds of mortgaged roperty.
Notices of this O.A. were issued to the defendants and 8 espite proper service including publication in newspaper, the efendants have chosen to absent from the proceedings. As U er order dated 08.12.2025, the defendants have been 8 roceeded ex-parte as they have not appeared before the ribunal nor written statement, evidence and affidavit of assets ave been filed.
In order to prove its case, the applicant bank has filed its vidence by way of affidavit of Shri Ashutosh Sharma, uthorized representative of the applicant who has proved the ocuments such as Letter of Authority, Sanction Letter, Loan greement, Demand Notice u/s 13(2) of SARFAESI Act, Sale ertificate, Calculation Sheet and Statement of Account with ertificate under Banker's Book Evidence Act, Demand Notice 0 ated 10.10.2023 marked as Ex.AW-1/1 to Ex.AW-1/7.
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.
lin
3
O.A. No. 909 of 2023
ORDER
I, allow this OA and direct the defendants to pay to the pplicant bank within 30 days, jointly or severally, a sum of s.73,79,750.01 (Rupees Seventy Three Lacs Seventy Nine housand Seven Hundred Fifty and paisa One Only) as on 0.09.2023 together with pendentelite and future interest 16.00% per annum with monthly rests from the date of filing f this O.A. till the date of realization along with costs. In case f default, the aforesaid amount shall be recovered from the ale of moveable and immovable property of the defendants.
III) The recovery certificate be issued forthwith and be sent o the Recovery Officer, Debt Recovery Tribunal-I, Delhi.
III)Parties are directed to appear before Recovery Officer, RT I, Delhi on 27.04.2026.
IV)Copies of final order as well as Recovery Certificate be ent to all concerned free of cost.
(GOVIND BALLABH SHA A) PRESIDING OFFICER DRT-I, DELHI
Dictated and pronounced in open court) ated: 26.02.2026
4
1 issue framed by the court
Whether the applicant bank is entitled to recover the outstanding dues under Section 13(2) of the SARFAESI Act given the defendants' non-payment.
3 provisions across 2 enactments
DFC First Bank Limited
Govind Ballabh Sharma
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
