Allowed

State Bank of India v. M/S Chemico (India)

DRT29 Apr 2026TA/1404/2023

Case brief

AI extract

What is this about?

The Tribunal allowed an original application filed by State Bank of India under Section 19 of the RDB Act, 1993, against borrowers and mortgagees for recovery of a principal amount of Rs. 67,14,177.75 along with interest and expenses, directing enforcement against mortgaged property and personal assets.

What did the court decide?

Recovery of Rs. 67,14,177.75 along with cost and interest @ 11.25% p.a. with direction to recover from mortgaged property and personal assets in case of shortfall.

State Bank of India versus M/S Chemico (India) — Execution and Attachment | DRT (2026)

¶1

Before SUSHIL KUMAR RASTOGI,^{Presiding Officer} Debts RecovelY Tribunal-Il,^Delhi

¶2

TA No.l4O4 OF 2023

¶3

srATE BANK OF rNDrA^{VS M/S CHEMTCO (rNDrA) & ORS}

¶4

Reserued on : 25.03.2026

¶5

Pronounced on z 29.04.2026

State Bank of India

-Applicant bank

Vs.

M/s Chemico^(India)

¶10

Sh. Jagrit Khaitan

¶11

Since deceased

¶12

(Borrower & moftgagor)

¶13

(l-hrough legal heirs)

¶14

A. Smt. MuKa Khaitan

¶15

B. Sh. Dhananjay Khaitan

¶16

C. Ms. Mudita Khaitan alias^{Mudita Jaipuria}

¶17

Smt. MulGa Khaitan - Defendants Wo^{Late Sh. Jagrit Khaitan}

¶18

Present Mr. Jai Mohan, Counsel apPears^for applicant bank. Defendants are exparte, since,^22.0L.2026.

¶19

FINAL ORDER

¶20

This original application has been^{filed by the} applicant bank, on 18.10.2007^{through Shri M.P.Naik,} Manager/ Principa! Officer of^{the applicant bank, under} Section 19 of the RDB^{Act, 1993 againstthe defendants} for recovery of a sum of Rs.67,L4,L77.75^{together with} cost, charges and^{pendentellite} and^{future interest} @14.5olo^{from date of filing of this O.A. till the} realization in full.

TA NO. 1404 of 2023

The brief^{facts of the case are that at the} request of the defendants,^{the applicantbank} sanctioned a cash^{credit Limit Facilityof Rs.30Lacs,} vide sanction letter^{datedtL.L2.2004. In term of} credits to be availed^{by defendantno.t with defendants} nos.2 & 3 as^{mortgagorsand defendant no'3 as} guarantor, they created an^{equitablemortgage of their} propefi being front half^{poftion of defendant no.2 and} rear half^{portion of defendant no.3 in First Floor of the} property bearing C-140,^{DefenceColony,New Delhi'} The defendants^{have executed all necessary loaning} documents on^{tL.L2.2004.It is submitted that during} the^pendency of^{the o.A, the defendant no.2l Sh. Jagrit} Khaitan was died^{and the LR's of defendantno.2/Sh.} Jagrit Khaitan^{were impleaded in the presentOA'}

¶25

It is further^{submitted that the defendants} enjoyed and utilized^{the Loan facility, but failed to} maintain the^{financial discipline and failed to repay the} due amounts.^{The applicant bank requested the} defendants to^{regularize the loan account by visits and} letters, but there^{was no response from the} defendants,^{hence the account was classifiedas NPA} dated 31.03.2005,^{Therefore, the applicantbank} serued a demand^{notice dated 01.08.2006to the} defendants but^{failed to recoverthe sme. Thus, the} present o.A/T.A. is^{preferred by the applicant bank to} recover its.

¶26

On notice by this^{Tribunal, defendantsput} appearance through^{counsel and filed written} statement but^failed a 1: ldence on time and the . Sr\

¶27

¶28

TA NO. 1404 of 2023

¶29

right to file evidence of defendants were closed vide order dated 27,08.20L3. Thereafter, the defendants failed to put appearance in the matter, despite issuance of default notice. Accordingly, the defendants were proceeded against exparte 22.0L.2026.

¶30

The applicant bank has filed evidence by way of affidavit of Mr. Dinesh Aganrual, Branch Manager of the applicant bank as Paper No.l to Paper No.92 which have gone unchallenged and un-rebutted. Hence, the case of the applicant bank stands fully established against the defendants with respect to non-payment of outstanding amount.

¶31

After perusing the records, this Tribunal is of the view that the applicant bank has proved its case beyond reasonable doubts. The evidence and documents filed by the applicant bank not rebutted by the defendants by not placing any evidence and there is no question of disbelieving the evidence and documents filed by the applicant bank based upon the written/pri nted docu ments.

¶32

In the light of the above discussions, the present T.A. deseryes to be allowed.

¶33

ORDER

¶34

I hereby allow this T.A. of the applicant bank and direct the defendant nos.l, 2 (A), (B), (C) and o. \ i!

¶35

¶36

TA NO. 1404 of 2023

¶37

defendant no.3 to^{pay jointly and severally to the} applicant a sum of^{Rs.67,L4,L77.75along with cost,} expenses and^interest @^{11.25olo from the date of filing} of this o.A.^{which has become T.A till the date of} realization. However,^{the liability of LRs of deceased} defendant no.2/Shri^{Jagrit Khaitan is limited to the} extent of^{propefi/assetsinherited by them from} deceased Shri^{Jagrit Khaitan.The defendant no.3/Smt.} MuKa Khaitan^{as LR of deceased Shri Jagrit Khaitanis} also liable to^{pay to the applicant bank the amountto} the extent of^{assets inheritedby her from deceasedShri} Jagrit Khaitan/defendant^no.2.

¶38

In^{case of failure to deposit the above amount} within the^{stipulated period, the same shall be} recovered^{from the sale of the moftgagedpropefi} bearing front^{half portion of propefi no' C-140'} Defence colony,^{New Delhi and rear half portion of} propefino.C-l40,DefenceColony,NewDelhi'Incase of short^{fall, the same shall be recovered from the sale} of^{personal movableand immovable assets of the} defendant^{nos.1, 2 (A), (B), (C) and defendant no'3'}

¶39

Recovery^{certificate be issued forthwith and be} sent to Recovery^{officer, Debts Recovery Tribunal-Il,} Delhi.

¶40

The^{registry of this Tribunal is hereby directed to} issue free^{copy of the order and send the same to both} the^parties.

¶41

¶42

TA NO. 1404 of 2023 5 5) Pafties are^{directed to appear before the Ld'} Recovery officer,^{DRT-II, Delhi on 29.06.2026.Pending} IAs, if any, stand^{disPosed of.}

¶43

File be consigned^{to records.}

¶44

Date z 29.04.2026

¶45

sA (SUSHIL KUMAR RASTOGI) PRESIDING OFRCER DRT-II, Delhi

¶46

This^{judgement has been signed, dated and} pronounced in oPen coutt.

¶47

Date :29.04.2026

¶48

s,\ (susHIL KUMAR RAsroG) PRESIDING OFFICER DRT-II, Delhi

¶49

State Bank of India v. M/S Chemico (India)

Case brief

What is this about?

What did the court decide?

State Bank of India v. M/S Chemico (India)

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

Coram

Case details

Similar cases