Allowed

State Bank of India v. Vijay Naithani and Ors.

DRT24 Aug 2026TA/1252/2023

Case brief

AI extract

What is this about?

The Tribunal allowed an Original Application filed by State Bank of India against Mr. Vijay Naithani, Mrs. Meenakshi Naithani, and Shree Vardhman Developers Pvt. Ltd. for recovery of Rs.36,23,883/- with interest. The proceedings were conducted ex-parte as respondents failed to appear.

What did the court decide?

Directed defendants to pay Rs.36,23,883/- with interest and costs; directed issuance of recovery certificate.

State Bank of India versus Vijay Naithani and Ors. — Banking and Recovery | DRT (2026)

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, T.A. No.1252 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. 1252 of 2023

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State Bank of India Stressed Asset Recovery Branch(SARB) 23, First Floor, Najafgarh Road New Delhi-110015 Applicant Versus 1. Mr.Vijay Naithani s/o Dinesh Chandra Naithani 197, Pocket-1, Sector-23, Prashant Vihar Delhi-110085 Also at: Jindal Saw Ltd. Jindal Centre, 12, Bhikaji Cama Place New Delhi-110066 2. Mrs. Meenakshi Naithani w/o Vijay Naithani 197, Pocket-1, Sector-23, Prashant Vihar Delhi-110085 Also at: St. Paul's School Phase IV Block H, Aya Nagar, New Delhi-110047 3. Shree Vardhman Developers Pvt. Ltd. 301-311, 3rd Floor, Indraprakash Building, 21 Barakhamba Road Connaught Place, New Delhi-110001 Also at: Shree Vardhman Developers Pvt. Ltd. 302, Indraprakash Building, Barakhamba Road, New Delhi-110001 Defendants Present: Shri Pradeep Dhaka, Counsel for the applicant bank Date of Reserve: 10.08.2026 Date of Pronouncement: 24.08.2026

T.A. No.1252 of 2023

FINAL ORDER

This original application has been filed by the applicant bank on 16.11.2021 before DRT-III Delhi and then transferred to DRT-I Delhi under Section 19 of Recovery of Debts and Bankruptcy Act, 1993 against the defendants for recovery of a sum of Rs.36,23,883/- (Rupees Thirty Six Lacs Twenty Three Thousand Eight Hundred Eighty Three only) as on 12.10.2021 along with pendentelite and future interest @7.35% per annum and @2% penal interest with monthly rest from date of filing of this application till the date of realization and costs.

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The brief facts of the case are that at the request of defendant no.1 & 2, the applicant bank sanctioned housing loan of a sum of Rs.35,76,000/- (Rupees Thirty Five Lacs Seventy Six Thousand Only) @8.85% interest per annum subject to change from time to time as per bank's guidelines which was to be repaid in EMI of Rs.28,590/- under SBI Home Loan scheme on 01.12.2018 in order to purchase under construction Flat No.C4/1003, 10th Floor, Tower C4, "Shree Vardhman Gardenia", Sector-10, Sonipat, Haryana on the basis of allotment letter dated 20.09.2018 issued by defendant no.3. The applicant bank disbursed an amount of Rs.32,81,010/- (Rupees Thirty Two Lacs Eighty One Thousand Ten oniy) in favour of defendant no.3 as per request of defendants.

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That in order to avail the housing loan facility, the defendant no.1 & 2 submitted housing loan application and executed Loan Arrangement Letter, Home Loan Agreement, Agreement to Mortgage dated 01.12.2018, No Objection to Mortgage dated 26.10.2018 and Tripartite Agreement on 25.10.2018 in favour of applicant bank.

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T.A. No.1252 of 2023

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That in order to secure the housing loan facility, defendant no.1 executed Agreement to Mortgage of the Flat No.C4/1003, 10th Floor, Tower C4, "Shree Vardhman Gardenia", Sector-10, Sonipat, Haryana by way of deposit of title documents with applicant bank and also deposited title documents with applicant bank on the basis of No Objection to Mortgage qua the flat and defendant no.3 marked lien on the said flat.

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As per tripartite agreement executed by defendants with applicant dated 25.10.2018, the applicant bank shall have first lien over the residential flat being financed, and in the event of default in repayment of instalments / interest, defendant no.3 under obligation shall cancel the booking and not transfer the flat to any other person without prior consent of applicant bank and pay all the amount received on behalf of defendant no.1 and 2 to the applicant bank. The IDBI Trusteeship Services Ltd. issued NOC to applicant bank for flat being financed.

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It has been submitted by the applicant bank that after availing the housing loan facility, the defendant no.1 and 2 failed to comply with the terms and conditions despite several requests and failed to deposit interest and monthly instalments regularly in time to the applicant bank. The applicant bank classified the account as NPA on 21.08.2021 as per RBI guidelines and issued legal notice on 15.10.2021 calling upon the defendants to pay the entire outstanding dues to the applicant bank and defendant no.3 to cancel the booking and return the amount but the defendants did not clear the dues of the applicant bank, hence the applicant bank has approached this Tribunal for recovery of their dues.

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T.A. No.1252 of 2023

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Notices of this O.A. were issued to the defendants and despite of proper service, the defendants have chosen to absent from the proceedings. As per order dated 31.07.2025, the defendant no.1 and 2 have been proceeded ex-parte as not appeared before the Tribunal and even no written statement, evidence and affidavit of assets have been filed by the defendants. Further, the defendant no.3 filed its written statement beyond the, statutory period of 30 days, therefore, written statement filed by defendant no.3 could not be taken on record and accordingly right to file written statement on behalf of defendant no.3 stand closed, and proceeded ex-parte.

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In order to prove its case, the applicant bank has filed its evidence by way of affidavit of Shri Sharat Jain, authorized representative of the applicant bank who has exhibited the documents such as Gazette Notifications Ex.AW-1/1(Colly), Loan Application Ex.AW-1/2, Loan Arrangement Letter Ex.AW1/3, Agreement for Home Loan Ex.AW-1/4, Agreement to Mortgage Ex.AW-1/5, No Objection to Mortgage Ex.AW-1/6, NOC issued by IDBI Trusteeship Services Ltd. Ex.AW-1/7, Allotment Letter Ex.AW-1/8, Flat Buyer Agreement Ex.AW-1/9, Tripartite Agreement Ex.AW-1/10, Demand Notice Ex.AW1/11, Postal Receipts Ex.AW-1/12, Demand Notice Ex.AW1/13, Postal Receipts Ex.AW-1/14, Statement of Account Ex.AW-1/15(Colly).

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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

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T.A. No.1252 of 2023

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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, allow this OA and direct the defendants to pay to the applicant bank within a period of 30 days, jointly or severally, a sum of Rs.36,23,883/- (Rupees Thirty Six Lacs Twenty Three Thousand Eight Hundred Eighty Three only).as on 12.10.2021 together with pendentelite and future interest @9.35% per annum from 15.10.2021 till the date of realization with costs failing which the aforesaid amount shall be recovered from the sale of mortgaged Flat No.C4/1003, 10th Floor, Tower C4, "Shree Vardhman Gardenia", Sector-10, Sonipat, Haryana. In case of default, the same shall be recovered from the sale of moveable and immovable property of the defendants.

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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 the Recovery Officer, DRT I, Delhi on 27.10.2026.

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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: 24.08.2026

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State Bank of India v. Vijay Naithani and Ors.

Case brief

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State Bank of India v. Vijay Naithani and Ors.

Case brief

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