Allowed

Hdfc Bank v. M/S Mamodia Borewell Co.

DRT13 Oct 2022OA/228/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal, Jaipur allowed an original application filed by HDFC Bank Ltd against four respondents for recovery of a defaulted loan amount of approximately Rs. 20.73 lakhs, holding the defendants liable to pay the principal sum along with future interest.

What did the court decide?

Ordered recovery of Rs. 20,72,831.27 with future interest, sale of mortgaged properties, and realisation of costs.

Hdfc Bank versus M/S Mamodia Borewell Co. — Banking and Recovery | DRT (2022)

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“ORIGINAL APPLICATION” No. 228 OF 2022

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BEFORE THE DEBTS RECOVERY TRIBUNAL, JAIPUR

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PRESENT- SHRI VIVEK SAXENA

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PRESIDING OFFICER

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O.A. NO. 228 OF 2022

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DATE OF DELIVERY OF ORDER 13/10/2022

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HDFC Bank Ltd ., having its registered office at HDFC Bank House, SenapatiBapat Marg, Lower Parel, West Mumbai-400013, having its office at 5t Floor, AnsalClasique Tower, Plot No.1, J-Block, Community Centre, Opposite Surya Continental, Rajori Garden, New Dehli-110027 through its Recovery Manager.

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…….Applicant Bank…..

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V E R S U S

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M/S MAMODIA BOREWELL CO. through its Proprietor Purshottam Lal Khandelwal, Registered Office at Old Bus Stand, SHAHPURA, District Jaipur- 303103.

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MR. PURSHOTTAM LAL KHANDELWAL S/o Ram Karan Khandelwal R/o 38, Babadi Ka Mohalla, SHAHPURA, District Jaipur - 303103.

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PREMLATA W/o Purshottam Lal Resident of 50, Banchhado Mohalla, Ward No. 15, SHAHAPURA, District Jaipur - 303103.

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CHANDAN KUMAR S/o Purshottam Lal ,R/o Bachedi Mohalla, Delhi Road, SHAHPURA, District Jaipur - 303103

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…..Defendants……

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Counsel for the Applicant Bank - Shri Alok Garg Defendants are Ex-parte

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JUDGMENT

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The Applicant Bank originally filed this O.A. on 30.12.2021, against the Defendants for the recovery of a sum of

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OA No. 228 OF 2022

Rs.20,72,831.27/- (Twenty Lacs Seventy Two Thousand Eight Hundred Thirty One and Paisa Twenty Seven Only) on Cash Credit & GECL-WCTL Facilities @ 18% p.a. from the Defendants with date of filing this original application till the date of realization and in default by sale of mortgaged Property i.e.-

¶22

S.No.	Description of Mortgaged Property
1.	Plot at Ward No. 12, Shyam Colony, Shahpura.
2.	Plot at Ward No. 15, Bichhadi Mohalla, Behind SBI, Old Delhi Road, Shahpura.

¶23

AND as well as other Personal movable and immovable Property/assets of Defendants, jointly and severally. The applicant bank is entitled to proceed against the same towards recovery of its debt. The applicant bank is entitled to the costs and expenses of the original application.

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The brief facts of the case are-

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That the applicant bank is banking company duly constituted and registered under the provisions of the Companies Act, 1956, its registered office at HDFC Bank House, Mumbai inter alia through its branch office situated at Ajmer (Raj.). The Station Road Branch, Jaipur of the applicant bank sanctioned the Credit Limits in favour of defendant no. 1 and the account was transferred to department of special operation, New Delhi of the applicant bank.

¶26

That the Defendant No. 1 is a Proprietorship firm and defendant no. 2. The defendant no. 3 and 4 have furnished their personal guarantee in favour of applicant bank and defendant no. 2 and 3 created mortgage by way of deposit of title deeds of immovable property in favour of applicant bank. (The detailed mentioned in para no. 3-A of OA).

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OA No. 228 OF 2022

That after considering the request the applicant bank sanction the Cash Credit Limit of Rs. 20.00 lakhs to defendant no. 1 with interest and the defendants has signed executed and signed required documents in favour of applicant bank.

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That the defendant no. 1 request to the applicant bank for renewal of credit facility of Rs. 20.00 lacs and bank guarantee limit of Rs. 30.00 lacs on the existing terms and conditions. After due consideration, the applicant bank sanctioned the existing cash credit facility of Rs. 20.00 lacs and bank guarantee of Rs. 30.00 lacs to the defendants. The defendants have executed required loaning documents in favour of applicant bank and time to time the sanctioned facilities renewed by the applicant bank in favour of defendants. That the defendants failed to abide by the financial discipline of the credit facility and further failed to neglect to operate and regularize the account satisfactorily; as a result, the applicant bank classified the loan account of defendants as NPA on 29.03.2021 as per guidelines of RBI.

¶32

That the defendants did not heed to the recall notice dated 27.09.2021 of the applicant bank and neglected to pay the outstanding dues as demanded by the applicant bank. The repayment of the aforesaid outstanding amount is duly secured by the mortgaged property in favour of applicant bank.

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That the applicant bank prayed to issue a recovery certificate for the aforesaid amount against the Defendants and also entitled to realize outstanding amount by the sale of mortgaged Property (mentioned above) & as well as other personal Property/assets of the Defendants, jointly and severally.

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OA No. 228 OF 2022

The Defendants are called absent and set ex-parte on 16.08.2022.

¶38

The applicant bank filed its evidence affidavit along with list of documents, annexing therewith Exhibit A/1 to A/40.

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Heard arguments of Ld. Counsel for the applicant bank.

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The point that arise for consideration is: Whether the applicant bank is entitled to the claim as prayed for?

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As stated supra, the Defendants remained ex-parte. The applicant bank filed the evidence affidavit coupled with the recitals in the documents, viz Exhibit A/1 to A/40 marked on behalf of the applicant bank, clinches the claim of the applicant bank against the Defendants. Hence, I hold that the Defendants are liable to pay to the applicant bank the claim made in O.A. with future interest and costs.

¶42

In the result, this O.A. No. 228 OF 2022 is allowed declaring that:-

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a) The Defendants are liable to pay to the applicant bank a sum of Rs.20,72,831.27/- (Twenty Lacs Seventy Two Thousand Eight Hundred Thirty One and Paisa Twenty Seven Only) with future interest @ 10% p.a. (Simple) from the date of filing the original application till the date of realization.

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b) The applicant bank is entitled to recover the above amount by the sale of mortgaged Property i.e.–

¶45

S.No.	Description of Mortgaged Property
1.	Plot at Ward No. 12, Shyam Colony, Shahpura.
2.	Plot at Ward No. 15, Bichhadi Mohalla, Behind SBI, Old Delhi Road, Shahpura.

¶46

AND as well as other Personal movable and immovable Property/assets of Defendants, jointly and

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OA No. 228 OF 2022

severally. The applicant bank is entitled to proceed against the same towards recovery of its debt.

¶51

c) The applicant bank is entitled to the costs and expenses of the O.A.

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The recovery certificate be issued forthwith and be sent to the Recovery Officer, DRT, Jaipur.

¶53

Parties are directed to appear before the Recovery Officer, DRT, Jaipur on 28/01/2023 .

¶54

Prepare Recovery Certificate accordingly.

¶55

A copy of the Judgment and Recovery Certificate be given or sent by registered post to each of the parties free. A copy of the Recovery Certificate be sent to the Recovery Officer of this Tribunal for necessary action as per the law.

¶56

(Vivek Saxena) Presiding Officer, Debts Recovery Tribunal, Jaipur

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Order pronounced in the open court today i.e. 13/10/2022 .

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(Vivek Saxena) Presiding Officer, Debts Recovery Tribunal, Jaipur

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Place-Jaipur Dated-13/10/2022

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OA No. 228 OF 2022

BEFORE THE DEBTS RECOVERY TRIBUNAL, JAIPUR

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PRESENT- SHRI VIVEK SAXENA

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PRESIDING OFFICER

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O.A. NO228 OF 2022

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DATE OF DELIVERY OF ORDER 13/10/2022

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RECOVERY CERTIFICATE

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(UNDER SUB Section 22 of the Recovery of Debts due to Banks and Financial Institutions Act, 1993 (Act 51 of 1993)

…….Applicant Bank…..

V E R S U S

M/S MAMODIA BOREWELL CO. through its Proprietor Purshottam Lal Khandelwal, Registered Office at Old Bus Stand, SHAHPURA, District Jaipur- 303103.

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MR. PURSHOTTAM LAL KHANDELWAL S/o Ram Karan Khandelwal R/o 38, Babadi Ka Mohalla, SHAHPURA, District Jaipur - 303103.

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PREMLATA W/o Purshottam Lal Resident of 50, Banchhado Mohalla, Ward No. 15, SHAHAPURA, District Jaipur - 303103.

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CHANDAN KUMAR S/o Purshottam Lal ,R/o Bachedi Mohalla, Delhi Road, SHAHPURA, District Jaipur - 303103

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…..Defendants……

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Recovery Certificate for Rs. 20,72,831.27/-

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In terms of final order dated 13/10/2022 passed by this Tribunal in the above mentioned case, it is ordered that the-

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a) The Defendants are liable to pay to the applicant bank a sum of Rs.20,72,831.27/- (Twenty Lacs Seventy Two Thousand Eight Hundred Thirty One and Paisa Twenty Seven Only) with future interest @ 10% p.a. (Simple) from

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OA No. 228 OF 2022

the date of filing the original application till the date of realization.

¶85

b) The applicant bank is entitled to recover the above amount by the sale of mortgaged Property i.e.–

¶86

S.No.	Description of Mortgaged Property
1.	Plot at Ward No. 12, Shyam Colony, Shahpura.
2.	Plot at Ward No. 15, Bichhadi Mohalla, Behind SBI, Old Delhi Road, Shahpura.

¶87

AND as well as other Personal movable and immovable Property/assets of Defendants, jointly and severally. The applicant bank is entitled to proceed against the same towards recovery of its debt.

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c) The applicant bank is entitled to the costs and expenses of the O.A.

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ii. Parties are directed to appear before the Recovery Officer, DRT, Jaipur on 28/01/2023 .

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The Recovery Officer shall realize the amount as per this Certificate in the manner and mode prescribed under Section 25 and 28 of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 (as amended from time to time) from the above named Certificate Debtor.

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This Certificate has been issued under my signatures and seal of the Tribunal on this 13/10/2022 .

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(Vivek Saxena) Presiding Officer, Debts Recovery Tribunal, Jaipur

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Place-Jaipur Dated-13/10/2022

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OA No. 228 OF 2022

FORM NO. 10

[See Regulation-24(1)]

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DEBTS RECOVERY TRIBUNAL First Floor, Sudharma-II, Opp.Kisan Bhawan, Lal Kothi Shopping Centre, Tonk Road, JAIPUR- 302015

¶100

SCHEDULED TO RECOVERY CERTIFICATE MEMO OF COST

¶101

O.A No. 228 OF 2022

…….Applicant Bank…..

V E R S U S

M/S MAMODIABOREWELL CO. through its Proprietor Purshottam Lal Khandelwal, Registered Office at Old Bus Stand, SHAHPURA, District Jaipur- 303103.

¶106

MR. PURSHOTTAM LAL KHANDELWAL S/o Ram Karan Khandelwal R/o 38, Babadi Ka Mohalla, SHAHPURA, District Jaipur - 303103.

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PREMLATA W/o Purshottam Lal Resident of 50, Banchhado Mohalla, Ward No. 15, SHAHAPURA, District Jaipur - 303103.

¶108

CHANDAN KUMAR S/o Purshottam Lal ,R/o Bachedi Mohalla, Delhi Road, SHAHPURA,District Jaipur - 303103

¶109

…..Defendants……

¶110

S. No.	Item of Costs	Amount in Rupees
1.	Fee on the application	23,000
2.	ProcessFees (inc.Publication)	332
3.	Advocate Fees	1,250
4.	Commissioner/Receivers/Valuation/ SecurityFee	NIL
5.	Miscellaneous Charges	NIL
	Total Costs	24,582

¶111

(Vivek Saxena) Presiding Officer, Debts Recovery Tribunal, Jaipur

¶112

Place-Jaipur Dated-13/10/2022

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OA No. 228 OF 2022

13/10/2022 Counsel: Sh. ALOK GARG, Counsel for the Applicant Bank. Defendants are Ex-parte.

¶117

Judgment dictated separately and pronounced in the open court. As per order the O.A. is allowed. Recovery Certificate be prepared accordingly and the Registry is directed to verify the Recovery Certificate as per Regulation 24(1) and (2) of Debts Recovery Tribunal Jaipur Regulation 2015 and after verification place the same before the Tribunal.

¶118

Presiding Officer, Debts Recovery Tribunal, Jaipur

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OA No. 228 OF 2022

13/10/2022

Counsel: Sh. ALOK GARG, Counsel for the Applicant Bank. Defendants are Ex-parte.

¶124

The Tribunal vide order dated 13/10/2022 , directed the Registrar to verify the Recovery Certificate as per Regulation 24(1) and (2) of Debts Recovery Tribunal Jaipur Regulation 2015.

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The Registrar vide order dated 13/10/2022 verified the Recovery Certificate as per Regulation 24(1) and (2) of Debts Recovery Tribunal Jaipur Regulation 2015. Recovery Certificate is prepared accordingly. Copy of the Judgment and Recovery Certificate be given free to the concerned parties as well as be sent to the Recovery Officer for further proceedings. File be put up before the Registrar for compliance. After compliance file be consigned to record.

¶126

Presiding Officer, Debts Recovery Tribunal, Jaipur

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OA No. 228 OF 2022

DEBTS RECOVERY TRIBUNAL, JAIPUR

¶131

ORIGINAL APPLICATION NO. 228 OF 2022

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The Recovery Certificate prepared in compliance of order dated 13/10/2022 passed by Hon’ble Presiding Officer, DRT, Jaipur in Original Application No228 OF 2022 Title- HDFC Bank Ltd. Vs. M/S MAMODIA BOREWELL CO and ors has been checked and may be verified.

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Section Officer

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Assistant Registrar

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On the basis of the report of Section Officer the Recovery Certificate is verified. The Recovery Certificate is placed below for the signature of Hon’ble Presiding Officer please.

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Assistant Registrar

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Hon’ble Presiding Officer

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Hdfc Bank v. M/S Mamodia Borewell Co.

Case brief

What is this about?

What did the court decide?

Hdfc Bank v. M/S Mamodia Borewell Co.

Case brief

What is this about?

What did the court decide?

What the court decided

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