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Judgment
The present appeal is filed to impugn the order dated 15.05.2026 passed by the DRT-II, Chandigarh in S.A. bearing No. 61/2026 titled as Sunita Devi v. Authorized Officer, Satin Housing Finance Limited.
The appellant Sunita Devi filed the S.A. bearing No. 61/2026 wherein claimed that the respondent has proceeded under the SARFAESI Act without following the mandatory procedure prescribed under law. The DRT-II, Chandigarh vide impugned order dated 15.05.2026 held that S.A. bearing No. 61/2026 is barred by limitation as such interim relief was declined to the appellant.
During the course of arguments Sh. Nikhil Hooda and Sh. Vikash Kumar, Advocates for appellant in their fairness stated that the appellant is ready to settle the dispute with the respondent.
Sh. Samrendra Kumar, Advocate for the respondent stated that as on today a sum of Rs.44,16,274/- is outstanding against the appellant. He further stated that due to the intervention of the bench, the respondent is ready to settle with appellant for a sum of Rs. 43.50 lacs.
The proposal as forwarded by Sh. Samrendra Kumar, Advocate on behalf of respondent is duly accepted by the Advocate for appellant, on instructions, from the appellant.
In these circumstances, the following directions are passed:
The appellant shall pay Rs. 43.50 lacs to the respondent towards full satisfaction of the loan Account No. LAGUR0921-00003509 in the name of the appellant in the following manner:
Rs. 20.00 lacs shall be paid by the appellant on or before 07.06.2026 to the respondent and balance amount of Rs. 23.50 lacs shall be paid on or before 30.06.2026 against the proper receipt.
The respondent after receipt of the entire settled amount shall not claim any right, title or interest in respect of the subject property i.e. Plot of land measuring 136 sq. yds. with covered area 500 sq. ft. situated in Lal DoraAbadi of Village Dundahera, Tehsil & District-Gurgaon, Haryana-122016.
The respondent shall also return the title documents of the subject property along with any other documents if in the possession of the respondent and shall also issue No Dues Certificate within 7 days in favour of the appellant after receipt of entire settled amount.
The respondent shall also after receipt of entire settled amount shall not claim any amount alleged to have been due against the appellant.
It is directed in case of default, the respondent shall be at liberty to proceed against the appellant in accordance with law. The respondent shall not take any coercive action/measure against the appellant till 30.06.2026.
The appellant is also directed not to part of the possession of the subject property as detailed herein above to any third person till the payment of entire settled amount.
It is also ordered that after execution of the above terms and conditions, the S.A. bearing No. 61/2026 shall also stands disposed of.
In view of the above settlement and direction, the present appeal stands disposed of. Copy of this order be given to both the parties.