Allowed

Hdfc Bank v. M S Ramanand Agarwal

DRT18 Jan 2023OA/55/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal, Jaipur allowed an original application filed by HDFC Bank Ltd. for recovery of Rs. 1.26 crores. The court declared the defendants jointly and severally liable and issued a recovery certificate for sale of mortgaged properties to recover the dues.

What did the court decide?

Defendants jointly and severally liable to pay Rs. 1,26,37,840.50 with 18% p.a. interest; recovery permitted from sale of mortgaged properties and personal assets.

Hdfc Bank versus M S Ramanand Agarwal — Banking and Recovery | DRT (2023)

¶1

“ORIGINALAPPLICATION” No. 55 of 2022

¶2

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

¶3

PRESIDING OFFICER

¶4

O.A. NO. 55 OF 2022

¶5

DATE OF DELIVERY OF ORDER 18.01.2023

¶6

HDFC BANK LTD.

¶7

Office – 5^th Floor, Nasal Classique Tower, Plot No. 1, Near Community Centre, Rajouri Garden, New Delhi - 10027

¶8

…..Applicant Bank…..

¶9

VERSUS

¶10

1. M/S RAMANAND AGARWAL

¶11

Through its Proprietor Mr. Ramanand Agarwal

¶12

Registered Office – Surajgarh Mandi,

¶13

Surajgarh, Chirawa, District – Jhunjhunu 333029

¶14

2. MR. RAMANAND AGARWAL

¶15

S/o Sh. Basant Lal Agarwal

¶16

R/o Anaj Mandi, Ward No. 4, Surajgarh (Rural),

¶17

Surajgarh, District Jhunjhunu (Raj.) 333029

¶18

3. MR. PRAVEEN KUMAR

¶19

S/o Sh. Ramanand Agarwal

¶20

R/o Anaj Mandi, Ward No. 4, Surajgarh (Rural),

¶21

Surajgarh, District Jhunjhunu (Raj.) 333029

¶22

4. MR. NIRANJAN AGARWAL

¶23

S/o Sh. Ramanand Agarwal

¶24

R/o Anaj Mandi, Ward No. 4, Surajgarh (Rural), Surajgarh, District Jhunjhunu (Raj.) 333029

¶25

……Defendants…..

¶26

Counsel for the Applicant Bank Shri Alok Garg Defendants Ex parte

OA No. 55 of 2022

JUDGMENT

This Original Application was filed by Applicant Bank against Defendants on 17.12.2021 for recovery of an amount of Rs 1,26,37,840.50 with pendentlite and future interest and cost.

¶32

As per O.A., Defendants approached the Applicant Bank for financial assistance. After due consideration, credit facility was sanctioned by the Applicant Bank in favour of Defendants. Defendants failed to maintain financial discipline and therefore, their loan account was classified as NPA. Applicant Bank has therefore, filed this original application for recovery of its dues against the Defendants.

¶33

Defendants were proceeded ex parte on 11.10.2022.

¶34

As stated supra, 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 jointly and severally liable to pay to the applicant bank the claim made in O.A. with future interest and costs.

¶35

In the result, this O.A. No. 55 of 2022 is allowed declaring that:-

¶36

a) The Defendants are jointly and severally liable to pay to the applicant bank a sum of Rs. 1,26,37,840.50 (Rupees One Crore Twenty Six Lac Thirty Seven Thousand Eight Hundred Forty and Fifty Paisa Only) with future interest @ 18%, p.a. (Simple) from 17.12.2021 till the date of realization.

¶37

b) The applicant bank is entitled to recover the above amount from sale of hypothecated goods and mortgaged properties – (1) Residential Property : Khasra No. 1271, Patta No. 592, Ward No. 5, Buhana Road, Near Railway Station, Yojana Bhawan Road Colony, Kakoda Road, Surajgarh,

OA No. 55 of 2022

District Jhunjhunu, (2) Commercial : Patta No. 377, Ward No. 4, Survey No. 168/11 Surajgarh Mandi, Surajgarh, District Jhunjhunu, (3) Industrial : Khasra No. 1447-1448/1294, Patta No. 691, Ward No. 5, Surajgarh, District Jhunjhunu and (4) Residential : Patta No. 284, Ward No. 4, House No. 1520, Anaj Mandi, Surajgarh, District Jhunjhunu as well as from the personal movable and immovable properties/assets of Defendants. The applicant bank is entitled to proceed against the same towards recovery of its debt.

¶42

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

¶43

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

¶44

Parties are directed to appear before the Recovery Officer, DRT, Jaipur on 18.04.2023 .

¶45

Prepare Recovery Certificate accordingly.

¶46

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.

¶47

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

¶48

Order pronounced in the open court today i.e. 18.01.2023 .

¶49

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

OA No. 55 of 2022

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

¶54

PRESIDING OFFICER

¶55

O.A. NO. 55 OF 2022

¶56

DATE OF DELIVERY OF ORDER 18.01.2023

¶57

RECOVERY CERTIFICATE

¶58

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

¶59

HDFC BANK LTD.

¶60

Office – 5^th Floor, Nasal Classique Tower,

¶61

Plot No. 1, Near Community Centre,

¶62

Rajouri Garden, New Delhi - 10027

¶63

…..Applicant Bank…..

¶64

VERSUS

¶65

1. M/S RAMANAND AGARWAL

¶66

Through its Proprietor Mr. Ramanand Agarwal Registered Office – Surajgarh Mandi,

¶67

Surajgarh, Chirawa, District – Jhunjhunu 333029

¶68

2. MR. RAMANAND AGARWAL

¶69

S/o Sh. Basant Lal Agarwal

¶70

R/o Anaj Mandi, Ward No. 4, Surajgarh (Rural),

¶71

Surajgarh, District Jhunjhunu (Raj.) 333029

¶72

3. MR. PRAVEEN KUMAR

¶73

S/o Sh. Ramanand Agarwal

¶74

R/o Anaj Mandi, Ward No. 4, Surajgarh (Rural),

¶75

Surajgarh, District Jhunjhunu (Raj.) 333029

¶76

4. MR. NIRANJAN AGARWAL

¶77

S/o Sh. Ramanand Agarwal

¶78

R/o Anaj Mandi, Ward No. 4, Surajgarh (Rural), Surajgarh, District Jhunjhunu (Raj.) 333029

¶79

……Defendants…..

¶80

Recovery Certificate for Rs. 1,26,37,840.50

¶81

In terms of final order dated 18.01.2023 passed by this Tribunal in the above mentioned case, it is ordered that the-

¶82

a) The Defendants are jointly and severally liable to

¶83

pay to the applicant bank a sum of Rs.

OA No. 55 of 2022

1,26,37,840.50 (Rupees One Crore Twenty Six Lac Thirty Seven Thousand Eight Hundred Forty and Fifty Paisa Only) with future interest @ 18%, p.a. (Simple) from 17.12.2021 till the date of realization.

¶88

b) The applicant bank is entitled to recover the above amount from sale of hypothecated goods and mortgaged properties – (1) Residential Property : Khasra No. 1271, Patta No. 592, Ward No. 5, Buhana Road, Near Railway Station, Yojana Bhawan Road Colony, Kakoda Road, Surajgarh, District Jhunjhunu, (2) Commercial : Patta No. 377, Ward No. 4, Survey No. 168/11 Surajgarh Mandi, Surajgarh, District Jhunjhunu, (3) Industrial : Khasra No. 1447-1448/1294, Patta No. 691, Ward No. 5, Surajgarh, District Jhunjhunu and (4) Residential : Patta No. 284, Ward No. 4, House No. 1520, Anaj Mandi, Surajgarh, District Jhunjhunu as well as from the personal movable and immovable properties/assets of Defendants. The applicant bank is entitled to proceed against the same towards recovery of its debt.

¶89

c) The applicant bank is entitled to the costs of the O.A. Parties are directed to appear before the Recovery Officer, DRT, Jaipur on 18.04.2023 .

¶90

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.

¶91

This Certificate has been issued under my signatures and seal of the Tribunal on this 18.01.2023 .

¶92

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

OA No. 55 of 2022

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

¶97

PRESIDING OFFICER

¶98

O.A. NO. 55 OF 2022

¶99

DATE OF DELIVERY OF ORDER 18.01.2023

¶100

SCHEDULE TO RECOVERY CERTIFICATE

¶101

MEMO OF COST

¶102

HDFC BANK LTD.

¶103

Office – 5^th Floor, Nasal Classique Tower, Plot No. 1, Near Community Centre, Rajouri Garden, New Delhi - 10027

¶104

…..Applicant Bank…..

¶105

VERSUS

¶106

1. M/S RAMANAND AGARWAL

¶107

Through its Proprietor Mr. Ramanand Agarwal

¶108

Registered Office – Surajgarh Mandi,

¶109

Surajgarh, Chirawa, District – Jhunjhunu 333029

¶110

2. MR. RAMANAND AGARWAL

¶111

S/o Sh. Basant Lal Agarwal

¶112

R/o Anaj Mandi, Ward No. 4, Surajgarh (Rural),

¶113

Surajgarh, District Jhunjhunu (Raj.) 333029

¶114

3. MR. PRAVEEN KUMAR

¶115

S/o Sh. Ramanand Agarwal

¶116

R/o Anaj Mandi, Ward No. 4, Surajgarh (Rural), Surajgarh, District Jhunjhunu (Raj.) 333029

¶117

4. MR. NIRANJAN AGARWAL

¶118

S/o Sh. Ramanand Agarwal

¶119

R/o Anaj Mandi, Ward No. 4, Surajgarh (Rural), Surajgarh, District Jhunjhunu (Raj.) 333029

……Defendants…..

OA No. 55 of 2022

S.No.	Item of Costs	Amount (Rs.)
1	Fee on the Application	1, 29,000.00
2	Process Fee (Inc. Publication)	412.00
3	Advocate Fee	1,250.00
4	Commission/Receiver/Valuation	NIL
5.	Miscellaneous Charges	NIL
	Total	1,30,662.00

¶125

Presiding Officer, Debts Recovery Tribunal, Jaipur

OA No. 55 of 2022

18.01.2023

Counsel:

Sh. ALOK GARG, Counsel for the Applicant Bank Defendants are exparte

¶132

Judgment dictated separately and pronounced in the open court. As per order the O.A. is allowed. Recovery Certificate be prepisd 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.

¶133

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

OA No. 55 of 2022

18.01.2023

Counsel:

Sh. ALOK GARG, Counsel for the Applicant Bank Defendants are exparte

¶140

The Tribunal vide order dated 18.01.2023 , directed the Registrar to verify the Recovery Certificate as per Regulation 24(1) and (2) of Debts Recovery Tribunal Jaipur Regulation 2015.

¶141

The Registrar vide order dated 18.01.2023 verified the Recovery Certificate as per Regulation 24(1) and (2) of Debts Recovery Tribunal Jaipur Regulation 2015. Recovery Certificate is prepisd 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.

¶142

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

OA No. 55 of 2022

DEBTS RECOVERY TRIBUNAL, JAIPUR

¶147

ORIGINAL APPLICATION NO. 55 of 2022

¶148

The Recovery Certificate prepisd in compliance of order dated 18.01.2023 passed by Hon’ble Presiding Officer, DRT, Jaipur in Original Application No. 55 of 2022 Title HDFC Bank Ltd. Vs M/s Ramanad Agarwal & Ors. has been checked and may be verified.

¶149

Section Officer

¶150

Assistant Registrar

¶151

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.

¶152

Assistant Registrar

¶153

Hon’ble Presiding Officer

¶154

Hdfc Bank v. M S Ramanand Agarwal

Case brief

What is this about?

What did the court decide?

Hdfc Bank v. M S Ramanand Agarwal

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

Coram

Case details

Similar cases

State Bank of India versus Shri Girdhari Ram

State Bank of India versus M/S Bhagirath and Company

Canara Bank versus Mrs Gurmej Singh Kaur

Yes Bank versus Sherawali Earthmovers

Kotak Mahindra Bank Limited versus M S Jagdish Pulses

State Bank of India versus Mr Resham Singh