In an unrebutted ex-parte application under Section 19(1) RDB Act, the Tribunal ordered recovery of Rs.54,81,749 plus interest from loan defaulters and their guarantor, allowing recovery from mortgaged auction sale or personal assets.
Recovery of Rs.54,81,749 with simple interest @8% p.a. from 22.09.2022 till realization; Recovery Certificate issued.
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DEBTS RECOVERY TRIBUNAL-2, CHANDIGARH, PRESIDED OVER BY M.M. DHONCHAK
ORIGINAL APPLICATION NO.1774/2022
DATE OF INSTITUTION: 22.09.2022
DATE OF DECISION: 15th 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 and Branch amongst other places one at Shahpur, District Hisar, Haryana, through Sh. Jatinder Mishra, Assistant Manager, holder of an attorney from the applicant bank
…..Applicant
Versus
…..Defendants
Defendant No. 3 ex parte vide order dated 23.08.2023
FINAL ORDER
Present Original Application was instituted by the applicant bank under Section 19(1) of the Recovery of Debts and
OA/1774/2022 HDFC BANK Vs RAMESH KUMAR AND OTHERS
2 Bankruptcy Act, 1993 (hereinafter referred to as ‘the Act’ for brevity), against the defendants for recovery of Rs.54,81,749/(Rupees Fifty Four Lac Eighty One Thousand Seven Hundred and Forty Nine Only) . It has been filed through Sh. Jatinder Mishra, Assistant Manager of the applicant bank stated to be competent to institute the Original Application vide Power of Attorney dated 16.12.2020, Annexure-A1 (copy).
OA/1774/2022 HDFC BANK Vs RAMESH KUMAR AND OTHERS 3 Mahajanan, Tehsil Adampur, District Hisar, Haryana, fully detailed in para No. 5(v) of the OA.
The documents related to mortgage are as under:
It is further the case of the applicant bank that after adjusting debit and credit entries in the loan accounts, a sum of Rs.54,81,749/- (Rupees Fifty Four Lac Eighty One Thousand Seven Hundred and Forty Nine Only), is recoverable against the defendants as per statements of accounts, certified under Bankers’ Books Evidence Act, 1891, Annexures-A15, A16 and A17 (copy).
Since the defendants did not repay the outstanding amount, therefore, the applicant bank preferred the present Original Application for issuance of Recovery Certificate.
OA/1774/2022 HDFC BANK Vs RAMESH KUMAR AND OTHERS 4
ex-parte vide order dated 07.02.2023 and defendant No. 3 was proceeded against ex parte vide order dated 23.08.2023 .
OA/1774/2022 HDFC BANK Vs RAMESH KUMAR AND OTHERS 5 mentioned @11.50% per annum in CC-I and CC-II limit and @12% per annum in term loan.
OA/1774/2022 HDFC BANK Vs RAMESH KUMAR AND OTHERS 6
liberty to recover the same by attachment and sale of personal assets of the defendants. The applicant bank is at liberty to enforce the claim through due process of law.
Pronounced in the open Tribunal (M.M. Dhonchak) Presiding Officer DRT-2, Chandigarh
2 issues framed by the court
Whether the recovery application filed under Section 19(1) RDB Act is maintainable and the defendants are liable to repay the outstanding loan amount.
What rate of interest should be granted pendente lite and for future period given the pandemic and agricultural nature of the loan.
1 provisions across 1 enactments
HDFC Bank Limited
Sh. Ramesh Kumar
Sh. Inder Singh
Sh. Rajesh
M.M. Dhonchak
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
