Allowed

Hdfc Bank v. M S Inayat Poultry Farm

DRT22 Sept 2022OA/47/2022

Case brief

AI extract

What is this about?

The DRT allowed an application filed by HDFC Bank Ltd. for recovery of a credit limit default against several respondents. The Tribunal declared the respondents liable to pay the outstanding sum with interest and authorized recovery through the sale of mortgaged and hypothecated properties.

What did the court decide?

Debt of Rs. 26,68,943.63 with interest; Recovery via sale of mortgaged properties; Recovery Certificate issued.

Hdfc Bank versus M S Inayat Poultry Farm — Banking and Recovery | DRT (2022)

¶1

“ORIGINAL APPLICATION” No. 047 OF 2022

¶2

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. 047 OF 2022

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DATE OF DELIVERY OF ORDER 22/09/2022

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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 5th Floor, Nasal Classique Tower, Plot No. 1, Near Community Centre, Rajouri Garden, New Delhi- 110027 through its Authorized Officer.

¶8

….Applicant Bank…..

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V E R S U S

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M/S INAYAT POULTRY FARM , through its proprietor Mr. Inayat Ali Khan,havingregistered office at Kishangarh Road, Sayaddo Ki Dhani, Village Aradka, Tehsil & District Ajmer (Raj.) - 305811.

¶11

MR. INAYAT ALI KHAN S/o Lal Mohammad, Resident of 220, Sayaddo Ki Dhani, Village Aradka, Tehsil & District Ajmer (Raj.) - 305811.

¶12

MR. LAL MOHAMMAD S/o KhudaBaksh, Resident of 220, Sayaddo Ki Dhani, Village Aradka, Tehsil & District Ajmer (Raj.) - 305811.

¶13

MR. GAFFAR KHAN S/o Zabbu Khan, Resident of 284, Sayaddo Ki Dhani, Village Aradka, Tehsil & District Ajmer (Raj.) - 305811.

¶14

M/S IKRAM POULTRY FARM , through its proprietor Mr. Ikramuddin Ali Khan,havingregistered office at Kishangarh Road, Sayaddo Ki Dhani, Village Aradka, Tehsil & District Ajmer (Raj.) - 305811.

¶15

MR. IKRAMUDDIN ALI KHAN S/o Lal Mohammad, Resident of 220, Sayaddo Ki Dhani, Village Aradka, Tehsil & District Ajmer (Raj.) - 305811.

…..Defendants….

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OA No. 047 OF 2022

Counsel for the Applicant Bank Defendants are Ex-parte

¶21

- Shri Alok Garg

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JUDGMENT

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The Applicant Bank originally filed this O.A. on 17-12-2021, against the Defendants for the recovery of a sum of Rs.26,68,943.63/-

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(Twenty Six Lacs Sixty Eight Thousand Nine Hundred Forty Three and Paisa Sixty Three Only) on Cash Credit Limit @ 10.40% p.a.

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from the Defendants with date of filing this original application till the

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date of realization and in default by sale of mortgaged Properties i.e.-

¶27

S.No.	Description of Mortgaged Properties
1.	Agriculture Land:Khasra No. 2546/2193 (New), Khasra No. 2484/2193 (Old), Village Aradka, Tehsil & District Ajmer (Raj.) - 305811, admeasuring of 0.16 hectare, standing in the name of defendant no. 3.
2.	Residential Property:Plot No. 2, Shri Nagar PanchayatSamiti, Village Aradka, Tehsil & District Ajmer (Raj.) - 305811, admeasuring of 216 sq. yards, standing in the name of defendant no. 4.

¶28

AND hypothecated goods etc as well as other Personal movable and immovable properties/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 Ajmer Branch of the applicant bank sanctioned the Credit Limits in favour of defendant no. 1.

¶31

That the Defendant No. 1 is a proprietorship firm of the defendant no. 2. The defendant no. 2 to 6 has furnished their personal guarantee in favour of applicant bank.

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OA No. 047 OF 2022

That the defendant no. 1, through defendant no. 2 approached to the applicant bank for sanction of Cash Credit Limit to meet the working capital requirements.

¶36

That after considering the request the applicant bank sanction a Cash Credit Limit of Rs. 20.00 lakhs to defendants with interest and the defendants has executed and signed required documents in favour of applicant bank

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That the defendant no. 3 and 4 have executed / mortgaged and signed deed of indemnity in favour of applicant bank (The detailed description of properties is given in Para no. 3-B of OA).

¶38

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 31.10.2021 as per guidelines of RBI.

¶39

That the defendants did not heed to the recall notice dated 04.10.2021of 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.

¶40

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 properties (mentioned above) & as well as other personal properties/assets of the Defendants, jointly and severally.

¶41

The Defendants are called absent and set ex-parte on 27.06.2022.

¶42

The applicant bank filed its evidence affidavit along with list of documents, annexing therewith Exhibit A/1 to A/23.

¶43

Heard arguments of Ld. Counsel for the applicant bank.

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The point that arise for consideration is:

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OA No. 047 OF 2022

Whether the applicant bank is entitled to the claim as prayed for?

¶49

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/23 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.

¶50

In the result, this O.A. No. 047 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.26,68,943.63/- (Twenty Six Lacs Sixty Eight Thousand Nine Hundred Forty Three and Paisa Sixty Three Only) with future interest @ 10% p.a. (Simple) from the date of filing the original application till the date of realization.

¶52

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

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S.No. Description of Mortgaged Property Agriculture Land :Khasra No. 2546/2193 (New),

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1. Khasra No. 2484/2193 (Old), Village Aradka, Tehsil & District Ajmer (Raj.) - 305811, admeasuring of 0.16 hectare, standing in the name of defendant no. 3. Residential Property :Plot No. 2, Shri Nagar

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2. PanchayatSamiti, Village Aradka, Tehsil & District Ajmer (Raj.) - 305811, admeasuring of 216 sq. yards, standing in the name of defendant no. 4.

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AND hypothecated goods etc and as well as other Personal movable and immovable properties/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.

¶58

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

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OA No. 047 OF 2022

Parties are directed to appear before the Recovery Officer, DRT, Jaipur on 03/01/2023 .

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Prepare Recovery Certificate accordingly.

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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.

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

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Order pronounced in the open court today i.e. 22/09/2022 .

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

¶68

Place-Jaipur Dated-22/09/2022

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OA No. 047 OF 2022

BEFORE THE DEBTS RECOVERY TRIBUNAL, JAIPUR PRESENT- SHRI VIVEK SAXENA

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PRESIDING OFFICER

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O.A. NO. 047 OF 2022

¶75

DATE OF DELIVERY OF ORDER 22/09/2022

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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 INAYAT POULTRY FARM , through its proprietor Mr. Inayat Ali Khan,havingregistered office at Kishangarh Road, Sayaddo Ki Dhani, Village Aradka, Tehsil & District Ajmer (Raj.) - 305811.

¶82

MR. INAYAT ALI KHAN S/o Lal Mohammad, Resident of 220, Sayaddo Ki Dhani, Village Aradka, Tehsil & District Ajmer (Raj.) - 305811.

¶83

MR. LAL MOHAMMAD S/o KhudaBaksh, Resident of 220, Sayaddo Ki Dhani, Village Aradka, Tehsil & District Ajmer (Raj.) - 305811.

¶84

MR. GAFFAR KHAN S/o Zabbu Khan, Resident of 284, Sayaddo Ki Dhani, Village Aradka, Tehsil & District Ajmer (Raj.) - 305811.

¶85

M/S IKRAM POULTRY FARM , through its proprietor Mr. Ikramuddin Ali Khan,havingregistered office at Kishangarh Road, Sayaddo Ki Dhani, Village Aradka, Tehsil & District Ajmer (Raj.) - 305811.

¶86

MR. IKRAMUDDIN ALI KHAN S/o Lal Mohammad, Resident of 220, Sayaddo Ki Dhani, Village Aradka, Tehsil & District Ajmer (Raj.) - 305811.

¶87

…..Defendants….

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Recovery Certificate for Rs. 26,68,943.63/-

¶89

In terms of final order dated 22/09/2022 passed by this Tribunal in the above mentioned case, it is ordered that the-

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OA No. 047 OF 2022

a) The Defendants are liable to pay to the applicant bank a sum of Rs.26,68,943.63/- (Twenty Six Lacs Sixty Eight Thousand Nine Hundred Forty Three and Paisa Sixty Three Only) with future interest @ 10% p.a. (Simple) from the date of filing the original application till the date of realization.

¶94

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

¶95

S.No.	Description of Mortgaged Property
1.	Agriculture Land:Khasra No. 2546/2193 (New), Khasra No. 2484/2193 (Old), Village Aradka,
	Tehsil & District Ajmer (Raj.) - 305811, admeasuring of 0.16 hectare, standing in the name of defendant no. 3.
2.	Residential Property:Plot No. 2, Shri Nagar PanchayatSamiti, Village Aradka, Tehsil & District Ajmer (Raj.) - 305811, admeasuring of 216 sq. yards, standing in the name of defendant no. 4.

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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 03/01/2023 .

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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 22/09/2022 .

¶101

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

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Place-Jaipur Dated-22/09/2022

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OA No. 047 OF 2022

FORM NO. 10

[See Regulation-24(1)]

¶108

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

¶109

SCHEDULED TO RECOVERY CERTIFICATE MEMO OF COST

¶110

O.A No. 047 OF 2022

….Applicant Bank…..

V E R S U S

M/S INAYAT POULTRY FARM , through its proprietor Mr. Inayat Ali Khan,havingregistered office at Kishangarh Road, Sayaddo Ki Dhani, Village Aradka, Tehsil & District Ajmer (Raj.) - 305811.

¶115

MR. INAYAT ALI KHAN S/o Lal Mohammad, Resident of 220, Sayaddo Ki Dhani, Village Aradka, Tehsil & District Ajmer (Raj.) - 305811.

¶116

MR. LAL MOHAMMAD S/o KhudaBaksh, Resident of 220, Sayaddo Ki Dhani, Village Aradka, Tehsil & District Ajmer (Raj.) - 305811.

¶117

MR. GAFFAR KHAN S/o Zabbu Khan, Resident of 284, Sayaddo Ki Dhani, Village Aradka, Tehsil & District Ajmer (Raj.) - 305811.

¶118

M/S IKRAM POULTRY FARM , through its proprietor Mr. Ikramuddin Ali Khan,havingregistered office at Kishangarh Road, Sayaddo Ki Dhani, Village Aradka, Tehsil & District Ajmer (Raj.) - 305811.

¶119

MR. IKRAMUDDIN ALI KHAN S/o Lal Mohammad, Resident of 220, Sayaddo Ki Dhani, Village Aradka, Tehsil & District Ajmer (Raj.) - 305811.

¶120

…..Defendants….

¶121

S. No.	Item of Costs	Amount in Rupees
1.	Fee onthe application	29,000
2.	ProcessFees (inc.Publication)	330
3.	AdvocateFees	1,250
4.	Commissioner/Receivers/Valuation/Sec urityFee	NIL
5.	Miscellaneous Charges	NIL
	Total Costs	30,580

¶122

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

¶123

Place-Jaipur Dated-22/09/2022

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OA No. 047 OF 2022

22/09/2022 Counsel: Sh. ALOK GARG, Counsel for the Applicant Bank. Defendants are Ex-parte.

¶128

Heard arguments of Ld. Counsel for the Applicant Bank.

¶129

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.

¶130

Presiding Officer, Debts Recovery Tribunal, Jaipur

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OA No. 047 OF 2022

22/09/2022

Counsel:

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

¶137

The Tribunal vide order dated 22/09/2022 , directed the Registrar to verify the Recovery Certificate as per Regulation 24(1) and (2) of Debts Recovery Tribunal Jaipur Regulation 2015.

¶138

The Registrar vide order dated 22/09/2022 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.

¶139

Presiding Officer, Debts Recovery Tribunal, Jaipur

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OA No. 047 OF 2022

DEBTS RECOVERY TRIBUNAL, JAIPUR

¶144

ORIGINAL APPLICATION NO. 047 OF 2022

¶145

The Recovery Certificate prepared in compliance of order dated 22/09/2022 passed by Hon’ble Presiding Officer, DRT, Jaipur in Original Application No. 047 OF 2022 Title- HDFC Bank Ltd. Vs. M/S INAYAT POULTRY FARM and ors has been checked and may be verified.

¶146

Section Officer

¶147

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.

¶149

Assistant Registrar

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Hon’ble Presiding Officer

¶151

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Hdfc Bank v. M S Inayat Poultry Farm

Case brief

What is this about?

What did the court decide?

Hdfc Bank v. M S Inayat Poultry Farm

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

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Case details

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