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Judgment
The appellant filed S.A. bearing No.124/2026 titled as Ramesh Bhardwaj & Anr. V. Canara Bank before DRT-II, Delhi. DRT-II, Delhi vide order dated 30.04.2026 dismissed the interim prayer as well as I.A. No.1039/2026.
The counsel for the respondent bank during the course of arguments stated that as on 31.03.2026 a sum of Rs.25,03,976/- is the outstanding against the appellants which they have failed to pay.
Sh. Subodh Pathak, advocate appearing on behalf of the appellants on instruction from appellant no.1 stated that the appellants shall pay the outstanding amount of Rs.25,03,976/- on or before 31.07.2026 to the respondent bank towards full and final satisfaction of the loan amount of Rs.19.50 lakhs in pursuance of the sanction letter dated 22.01.2024. Sh. Pathak on instruction from appellant no.1 further stated that the appellants will pay Rs.5 lakhs to the respondent today itself, Rs.10 lakhs on or before 30.06.2026 and the balance amount on or before 31.07.2026. The counsel for the respondent has accepted the said proposal on behalf of the respondent bank but stated that in case of default the respondent shall be at liberty to proceed in accordance with SARFAESI Act against the appellants.
Sh. Subodh Pathak also stated that the respondent put the lock on the subject property which also be ordered to be unlocked. The counsel for the respondent bank stated that the lock which has already been put on the property shall be reopened but subject to the payment and realisation of Rs.5 lakhs from the appellant.
In view of above submissions, the following directions are passed:-
(i). The appellant shall pay Rs.25,03,976/- to the respondent bank towards full and final satisfaction of the loan amount in pursuance of the Sanction Letter dated 22.01.2024. The respondent bank shall not add further interest or any other charges on the said amount if the appellants make the payment as detailed herein below:
The appellant is directed to pay Rs.5 lakhs to the respondent bank within two days and after realization of Rs.5 lakhs the respondent bank shall open the lock already put on the property of the appellants.
The appellant shall pay Rs.10 lakhs on or before 30.06.2026 to the respondent no.1 bank and the balance amount out of settled amount on or before 31.07.2026.
In case of any default is committed by the appellants, the respondent bank shall be at liberty to put back the lock on the subject-property and also to proceed against the appellants in accordance with law and in particular as per the SARFAESI Act.
The respondent after receipt of the entire settled amount as detailed hereinabove shall not claim any amount arising out of the Sanction Letter dated 22.01.2024 from the appellants.
The respondent is also directed to maintain the status quo in respect of the title and possession of the subject-property subject to the payment of the entire settled amount on or before 31.07.2026.
With these observations, the present appeal stands disposed of.
Copy of this order be given Dasti to the appellants as well as to respondent for compliance.