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Banks (Finance)

Delhi District Court Orders Ex-Parte Decree in Rs. 2.67 Crores Loan Recovery Case Against State Bank of India Customers

Strategic Insights

— 1 min read

The Delhi District Court, in a recent judgment, ordered an ex-parte decree in favor of the State Bank of India against two of its customers, Smt. Anju and Sh. Rakesh, in a loan recovery case worth Rs. 2.67 crores. The court found the defendants liable for the recovery of principal amount of Rs. 2.67 lakhs and interest from the date of issuance of the legal notice on April 26, 2024, till the date of filing of the suit on November 4, 2024, and additional interest from the date of filing of the suit till realization.

Key Takeaways:

  • The court found the defendants liable for the recovery of principal amount of Rs. 2.67 lakhs and interest.
  • The interest was calculated at 8% per annum from the date of issuance of the legal notice till filing of the suit and additional interest at the same rate from the date of filing of the suit till realization.
  • The court awarded the cost of the suit in favor of the plaintiff and against the defendants.
  • The defendants were served through newspaper publication on January 28, 2024, and January 26, 2025, but failed to appear in court.
  • The court relied on the testimony of PW-1, who filed his affidavit and corroborated the testimony with various documents, including loan application forms, personal assets and liabilities statements, arrangement letters, and legal notices.
  • The defendants did not file a written statement to contest the suit, nor did they appear before the Delhi Legal Services Authority (DLSA) for pre-litigation mediation.

Statistics:

  • The loan amount due to the bank is Rs. 2.67 crores (Rs. 2 lakhs and Rs. 67,129).
  • The interest rate used for calculation is 8% per annum.
  • The date of issuance of the legal notice is April 26, 2024.
  • The date of filing of the suit is November 4, 2024.
  • The date of the final judgment is May 5, 2025.

Sources:

  • Delhi District Court judgment in the case of State Bank of India Vs. Smt. Anju and anr. C/- 1213/2024

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