Hdfc Bank v. Sh. Sushil Kumar
Case brief
What is this about?
DRT allowed the bank's application for a recovery certificate against borrowers and guarantors who defaulted on agricultural loans, ordering immediate payment of the principal amount with 8% simple interest.
What did the court decide?
Recovery Certificate issued for Rs. 1,20,50,147 with simple interest @8% p.a. from 26.07.2023; liberty to enforce claim against mortgaged or personal assets.
What the court decided
DEBTS RECOVERY TRIBUNAL-2, CHANDIGARH, PRESIDED OVER BY M.M. DHONCHAK
ORIGINAL APPLICATION NO.1128/2023
DATE OF INSTITUTION: 26.07.2023
DATE OF DECISION: 22nd DAY OF DECEMBER, 2023
HDFC Bank Limited, a Banking Company, carrying on the banking business under the Banking Regulation Act, 1949, incorporated under the Companies Act, 1956, having its Registered Office at HDFC Bank House, Senapati Bapat Marg, lower Parel, Mumbai-400013, whereas its Branch at Kalayat, through Sh. Jatinder Mishra, Assistant Manager (Agriculture Legal), H.D.F.C. Bank Limited, Regional Office, Mohali, District Mohali (Punjab) being power of attorney holder of the applicant bank
…..Applicant
Versus
- Sh. Sushil Kumar s/o Sh. Bhag Ram @ Bhaga Ram r/o House No. 126/19, Gali No. 6B, Hanuman Nagar, Narwana, Tehsil Narwana, District Kaithal (Haryana)-126116
- Smt. Chano Devi w/o Sh. Bhag Ram @ Bhaga Ram r/o House No. 409G, Housing Board Colony, Narwana, Tehsil Narwana, District Kaithal (Haryana)-126116
Issues for consideration
2 issues framed by the court
Whether the Original Application for recovery certificate was maintainable under the RDB Act.
Whether the quantifiable sum and interest rate claimed by the applicant bank were allowable.
Parties & counsel
- applicant
HDFC Bank Limited
- respondent
Sh. Sushil Kumar
- respondent
Smt. Chano Devi
- respondent
Sh. Pardeep Singh
- respondent
Sh. Bhag Ram
- respondent
Case details
As recorded by the court registry
Similar cases
Judgements on the same questions, provisions and authorities, from every court