1. This original application has been filed by the applicant bank, on 31.12.2018, through Mr. Chandra Kant Sharma, Authorised Representative, under Section 19 of the Recovery of Debts Due to Banks and Financial Institution Act, 1993 against the defendants for recovery of a sum of Rs. 86,89,371/- (Rupees Eighty-Six Lacs Eighty-Nine Thousand Three Hundred and Seventy-One Only) alongwith interest at the rate of 9.70% per annum, with monthly rests with penal interest from 11.10.2017, along with unapplied interest and other charges accruing thereon till the date of full realization.
2. The brief facts of the case are that the defendant No. 1, 2 & 3 are the borrowers and defendant No. 2 & 3, also stood as the mortgagors to the mortgage property, duly mortgaged as a security to the housing loan facility. At the request of the defendants the applicant bank sanctioned housing loan for Rs. 90,00,000/-. In order to avail the aforesaid facility, the defendants executed, certain loan documents such as loan agreement, loan application etc.
3. It has been submitted by the applicant bank that in order to secure the aforesaid loan facility the defendants created mortgaged property bearing No. 20/27, Block-20, Entire 1st & IInd Floor (without roof rights), Old Market, West Patel Nagar, New Delhi-110008.
4. It has further been submitted by the applicant bank that after availing the aforesaid loan facilities, the defendants failed to comply with the terms and conditions and despite of several requests and reminders the defendants failed to pay the outstanding dues and monthly installments in time to the applicant bank. Ultimately, the applicant bank sent loan recall notice dated 22.05.2018 calling upon the defendants to pay the entire outstanding dues to the applicant bank but the defendants did not clear the dues of the applicant bank and hence the applicant bank has approached this Tribunal for recovery of their dues.
5. Notices of this O.A. were issued to the defendants and despite service the defendants failed to appear before this Tribunal and accordingly, they were proceeded ex parte.
6. To prove its case, the applicant bank leads its evidence by filling the affidavit of AW-1 Mr. Rahul Pratap - Chief Manager, who has exhibited the documents as EX. AW-1 which are inclusive of general power of attorney as EX. AW-1/1, power of attorney as EX. AW-1/1A, sanction letter as EX. AW-1/2, dena niwas loan agreement as EX. AW-1/3, consent of the borrower as EX. AW-1/4, declaration as EX. AW-1/5, undertaking as EX. AW-1/6, dena bank mandate as EX. AW-1/5, undertaking as EX. AW-1/6, dean bank mandate as EX. AW-1/7, letter of general lien and set-off from borrowers dated 21.07.2015 as EX. AW-1/8, memorandum of entry as EX. AW-1/9, title deeds as EX. AW-1/9A, declaration in the matter of creation of equitable mortgage by deposit of title deeds by individuals as EX. AW-1/10, affidavit as EX. AW-1/11, notice dated 22.05.2018 as EX. AW-1/12, recall notice as EX. AW-1/13 and statement of account as EX. AW-1/14.
7. The witness 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 witness has duly proved all these documents. The evidence filed by the applicant bank gone unrebutted and there is no question of disbelieving the evidence lead by the applicant bank and applicant bank has proved its case beyond reasonable doubts. Accordingly, the bank is entitled to recover the entire amount alongwith pendente lite interest and future costs as agreed between the parties. I hereby allow this O.A. as the applicant bank has proved its claim beyond any doubt.
(i). I allow this OA and direct the defendants No. 1 to 3 to pay to the applicant bank jointly or severally, within a period of 30 days, a sum of Rs. 86,89,371/- (Rupees Eighty-Six Lacs Eighty-Nine Thousand Three Hundred and Seventy-One Only) alongwith interest at the rate of 9.70% per annum from the date of filing of the original application till its realization; failing which the aforesaid amount shall be recovered from the sale of the mortgaged property bearing No. 20/27, Block-20, Entire 1st & IInd Floor (without roof rights), Old Market, West Patel Nagar, New Delhi-110008 and in case of shortfall the same shall be
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recovered from the sale of the personal movable and immovable assets/properties of the defendants No. 1 to 3. (ii). The recovery certificate be issued forthwith and be sent to the Recovery Officer-I, Debts Recovery Tribunal-III, Delhi. (iii). Parties are directed to appear before the Recovery Officer-I, DRT-III, Delhi on 13.02.2020. (iv). Copies of final order be sent to all concerned free of cost. File be consigned to records.