Allowed

Hdfc Bank v. Harjinder Singh

DRT17 Nov 2023OA/1347/2022

Case brief

AI extract

What is this about?

DRT allowed applicant bank's prayer for recovery of dues against respondents' personal liability though time-barred, permitting sale of mortgaged land only. Recovery certificate issued for distribution by Recovery Officer.

What did the court decide?

Order allowed recovery of Rs.44,75,238/- plus interest from proceeds of sale of mortgaged land; recovery certificate issued; appearance before Recovery Officer directed.

Hdfc Bank versus Harjinder Singh — Contract and Commercial Disputes | DRT (2023)

¶1

IN THE DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH

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BEFORE: A S NARANG, PRESIDING OFFICER

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OA No: 1347/2022 Date of Institution: 01.07.2022 Date of Decision: 17.11.2023

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HDFC Bank Ltd., Waryam Khera, District Fazilka.

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……..Applicant

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Vs.

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Harjinder Singh S/o Boota Singh, R/o Village Sherewala, Tehsil Abohar, District Fazilka – 152116.

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Boota Singh S/o Hardip Singh, R/o Village Sherewala, Tehsil Abohar, District Fazilka – 152116.

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……….Defendants

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Advocates

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Sh. JS Sehgal, Counsel for the applicant bank. Defendants – ex parte OA for the Recovery of Rs.44,75,238/- with interest @13% per annum with half yearly rests from 08.03.2022.

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ORDER

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HDFC Bank Ltd., (Bank) has filed this application under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993 (RDB Act) for the recovery of Rs.44,75,238/- with interest against Sh. Harjinder Singh and another (defendants).

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Bank’s case is that in the year 2015, it had granted a CC Limit of Rs.13,45,000/- Lacs (which was subsequently transfer into two different Term Loan accounts) and Term Loan of Rs.3.00 Lacs to defendants for agricultural purpose. To secure the loan, Defendants had mortgaged their land (fully detailed in para No.3(A) of the application). The loan was chargeable to interest @13% per annum with half yearly rests. On 08.03.2022, a sum of Rs.44,75,238/- was due from the defendants.

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Despite repeated requests, defendants did not make the repayment. Hence, this application.

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On 21.07.2022, summonses were sent to the defendants by registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 13.12.2022, they were proceeded ex parte .

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In order to prove its case, the Bank has placed on record the affidavit of Mr. Parampreet Singh Kahlon, Assistant Manager along with the loan and security documents and marked them as Exhibit A-1 to A- 17. 5. I have perused the evidence on the record. I am of the considered view that the Bank has proved its case that it had advanced the loan of Rs.16,45,000/- and on 08.03.2022, a sum of Rs.44,75,238/- was due. 5(a) The loan was given by the bank in the year 2015 and the present OA was filed before this Tribunal in the year 2022. Accordingly, the OA against defendants for their personal liability is time barred. Since defendants had created the mortgage, the OA against defendants on the basis of creation of mortgage is well within time.

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Accordingly, the application of the bank for the recovery of Rs.44,75,238/- (Rupees Forty Four Lacs Seventy Five Thousand Two Hundred and Thirty Eight Only) with interest @13% per annum with half yearly rests from 08.03.2022, till the date of payment is hereby allowed with costs. Bank can recover its dues by the sale of mortgaged land fully detailed in para No.3(A) of the application only.

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Pending IAs, if any, stand disposed of.

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Recovery Certificate be issued accordingly.

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¶23

Parties are directed to appear before Recovery Officer on 18.12.2023, who is directed to distribute the sale proceeds of the mortgage land and standing crops as per the provisions of Section 19(20AB) of the Act . 10. A Copy of this order along with Recovery Certificate be sent to the Recovery Officer as well as the parties. Pronounced in the open court. (A S Narang) Dated: 17.11.2023 Presiding Officer DRT-1, Chandigarh Pankaj

Hdfc Bank v. Harjinder Singh

Case brief

What is this about?

What did the court decide?

Hdfc Bank v. Harjinder Singh

Case brief

What is this about?

What did the court decide?

What the court decided

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