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Judgment
Manmohan, J.—Present mortgage suit has been filed on 23rd July, 2010 for recovery of Rs. 22,92,580/- together with interest @ 11.5% per annum with monthly rest till realization along with costs. While the defendants No. 1 and 2 are borrowers, defendant No. 3 is a guarantor in respect of a term loan of Rs. 15 lacs for purchase and finishing of second floor of property bearing No. G-2/67, Sector-16, Rohini, Delhi having built up area of 48 sq. yds.
It is stated in the plaint that the present suit has been filed on failure of the defendants to observe financial discipline and on their failure to repay the amount despite the plaintiff''s demand notice.
On 11th January, 2012, defendants were proceeded ex parte.
Subsequently, the plaintiff has filed evidence by way of an affidavit of Mr. Pawan Sharma, its Vice President.
The plaintiff''s witness has exhibited the term loan agreement dated 23rd September 2006 executed by defendants No. 1 and 2, letter of guarantee dated 23rd September, 2006 executed by defendant No. 3 as well as letter dated 15th November, 2006 issued by defendant No. 1 confirming creation of mortgage by deposit of original title deeds and acknowledgement of debt dated 25th July, 2007 issued by defendants No. 1 and 2 confirming the outstanding balance of Rs. 16,20,768 as on 30th June, 2007.
Plaintiff''s witness has also exhibited the demand notice dated 21st November, 2007 issued under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short ''Sarfaesi Act, 2002'') as well as the statement of account under the banker''s books showing outstanding amount of Rs. 22,92,580/- as on the date of filing of the suit.
Mr. R.K. Dhawan, learned counsel for plaintiff states that despite taking steps under the Sarfaesi Act, 2002, plaintiff has not been successful in either selling the mortgaged property or in recovering any money.
Having heard the learned counsel for plaintiff and having perused the ex parte evidence as well as the documents placed on record, this Court is of the opinion that plaintiff has proved the facts stated in the plaint and also exhibited the relevant documents in support of its case. Since the plaintiff''s evidence has gone unrebutted, said evidence is accepted as true and correct.
Consequently, present suit is decreed for a sum of Rs. 22,92,580/- in favour of the plaintiff company and jointly and severally against the defendants along with interest @11.5% per annum with monthly rests from the date of filing of suit till its realization and costs assessed at Rs. 25,000/-. A final decree is also passed entitling the plaintiff to sell the mortgaged property i.e. second floor of property bearing No. G-2/67, Sector-16, Rohini, Delhi having built up area of 48 sq. yds. for recovery of the decretal amount. Registry is directed to prepare decree sheet accordingly.