Allowed

Axis Bank Ltd. v. Shashank Chaurasia

DRT18 Jun 2026TA/539/2023

Case brief

AI extract

What is this about?

The Tribunal allowed an original application filed by Axis Bank Limited under Section 19 of the RDB Act, 1993. The bank sought recovery of dues including principal, interest, and costs against three defendants. Since defendants were absent, the Tribunal accepted the bank's documents as unchallenged and directed payment.

What did the court decide?

Direction to defendants to jointly and severally pay Rs.42,92,701 plus interest and costs within 30 days; recovery from mortgaged property upon default; issuance of recovery certificate.

Axis Bank Ltd. versus Shashank Chaurasia — Banking and Recovery | DRT (2026)

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Before susHrl KUMAR RAsToGr, presiding officer Debts Recovery Tribunat_Il, Delhi

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TA No.53g OF 2O2g A)GS BANK LIMITED VS SHASHANK CHAURASIA & ORS

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Resered on : 15.05,2026

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Pronounced on : 1g.06.2026

Axis Bank Limited

-Applicant bank

Vs.

Shashank Chaurasia

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VXL Realtors^private Limited

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Satinder Rajpal

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Defendants

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Present Mr. Vatsa! Parewa, proxy counse! for applicant bank. Defendants are expafte, since, lL.LZ.ZOZ3.

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FINAL ORDER

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Thls original application has been filed by the applicant bank, on ZS.OgiOtl through Mr. Rajeev Kumar, Authorized Representative of the applicant bank, under Section 19 of the RDB Act, 1993 against the defendants for recovery of a sum of Rs.42,g2,7LOltogether with cost, charges and pendenteltite and future interest @24o/o from date of filing of this o.A. till the realization in full.

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The brief facts of the case are that at the request of the defendant no.1, the applicant bank sanctioned a Home Loan Facility of Rs.40,00,0001-, vide sanction letter dated 04.01.20t2 for purchasing the built-up propefi bearing Flat No.H -704, 7tr Floor, \XL Eastern Gates Plot No.GH-03, Sec-4-C, Vasundhara Ghaziabad201001 to be constructed in its residential project "vXL

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+'-

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Before susHrl KUMAR RAsroGr, presiding officer Debts Recovery Tribunal_Il, Delhi

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TA No.539 OF 2OZ3 A)GS BANK LIMITED VS SHASHANK CHAURASIA & ORS

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Reserued on : 15.05.2026 Pronounced on : lg.O6.2026

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Axis Bank Limited -Applicant bank Vs. 1. Shashank Chaurasia 2. \XL Realtors private Limited 3. Satinder Rajpal - Defendants

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Present: Mr. Vatsat parewa, proxy counsel for applicant bank. Defendants are expafte, since, ZL.LZ.ZOZ3.

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FINAL ORDER

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This originar apprication has been fired by the applicant bank, on ZS.OI.ZOLT through Mr. Rajeev Kumar, Authorized Representative of the appricant bank, under section 19 of the RDB Act, 1993 against the defendants for recovery of a sum of Rs.42, gz,Troltogether with cost, charges and pendentertite and future interest @Z4o/o from date of filing of this O.A. till the realization in full.

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The brief facts of the case are that at the request of the defendant no.1, the applicant bank sanctioned a Home Loan Facility of Rs.40,oo,oool-, vide sanction letter dated 04.0L.20r2 for purchasing the buirt-up property bearing Flat No.H-704,7th Floor, \xL Eastern Gates Plot No.GH-03, sec-4-c, vasundhara Ghaziabad201001 to be constructed in its-residential project..\xL -qA'

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TA NO. 539 of 2023

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Eastern Gates" situated at v)(L Eastern Gates plot No.GH-O3, sec-4-c, Vasundhara Ghaziabad-201001. The defendant no.1 had executed ail necessary roaning documents on 29.01.2012. The defendant no.3 being guarantor has executed deed of guarantee in favour of the applicant bank. The repayment of the aforesaid propefi was to be secured by way of creation of security by mortgage/equitabre mortgage of the subject property to be purchase by the defendant no.1. The defendant no.2 has issued retter to permission to moftgage whereby it noted the charge/rien of the applicant bank on the subject property and proportionate land undereath. The defendant no.1 and the defendant no.2 also entered into Tripartite Agreement dated 29.01.2012 with the appricant bank.

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It is further submitted that the defendants enjoyed and utilized the Loan facility, but faited to maintain the financial discipline and failed to repay the due amounts. The appricant bank requested the defendants to regutarize the loan account by visits and letters, but there was no response from the defendants. Therefore, the appricant bank seryed a demand tegar notice dated 18.07.2017 to the defendants, demanding the amount due as on that date, but failed to recover the same. Thus, the present o.A.fl-.A. is preferred by the applicant bank to recover its dues.

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on notice by this Tribunal, defendants failed to put appearance at ail, despite pubrication. Accordingry, the defendants were proceeded against expafte on 21.t2.2023. ;^{</sup> ,i}

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TA NO. 539 of 2023

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5' The appricant bank has fired documents as Annexure A-1 to Annexure A-Lz, which have gone unchallenged and un-rebutted. Hence, the case of the applicant stands fuily estabtished against the defendants with respect to nonpayment of outstanding amount.

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After perusing the records, this Tribunal is of the view that the appricant bank has proved its case beyond reasonabre doubts. The documents fired by the applicant bank not rebutted by the defendants by not placing any evidence and there is no question of disbelieving the documents fired by the appricant bank based upon the written/printed documents.

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In the light of the above discussions, the present r.A. deserues to be attowed.

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ORDER

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I hereby aflow this T.A. of the appricant bank and direct the defendant nos. 1 to 3 to pay joinfly and severalry to the appticant bank within 30 days from today, a sum of Rs.4Z,9Z,7LOI_ atong with cost, expenses and interest @ 1lolo from the date of filing of this o.A. which has become T.A tifl the date of realization.

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In case of fairure to deposit the above amount

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within the stipulated period, the same shall be recovered from the sale of the mortgaged property bearing Flat No.H -704,7th Ftoor, \xL Eastern Gates ptot No.GH-03, sec-4-c, vasundhara Ghaziabad-201001 having super area of 1623 sq. Ft. (approx). In case of short fall, the same shail bp fgcovered from the sate of cli

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TA NO. 539 of 2023

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personal movabre and immovabte assets of the defendant nos. 1 to 3.

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

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The registry of this Tribunat is hereby directed to issue free copy of the order and send the same to both the parties.

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Parties are directed to appear before the Ld. Recovery officer, DRT-II, Delhi on 1g.0g .2026. pending IAs, if any, stand disposed of.

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File be consigned to records.

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Date : 18.06.2026

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(susHrL KuMAR 'ARnsrocr; PRESIDING OFFICER DRT-II, Delhi

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This judgement has been signed, dated and pronounced in open couft.

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Date : 18.06.2026

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s) (SUSHIL KUMAR RASTOGI) PRESIDING OFFICER DRT-II, Delhi

Axis Bank Ltd. v. Shashank Chaurasia

Case brief

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Axis Bank Ltd. v. Shashank Chaurasia

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