Allowed

Hdfc Bank v. Ali Mohammad Ganaiee

DRT13 Oct 2023OA/578/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an application filed by the Bank for recovery of Rs. 41,43,263 with interest against the defendants. The court held that the Bank proved its case regarding the loan advance and outstanding dues. An order for the sale of mortgaged land and issuance of a recovery certificate was passed.

What did the court decide?

Recovery of Rs. 41,43,263 with interest allowed; Recovery Certificate issued; Direction to sell mortgaged land for proceeds.

Hdfc Bank versus Ali Mohammad Ganaiee — Contract and Commercial Disputes | DRT (2023)

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IN THE DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH

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BEFORE: A S NARANG, PRESIDING OFFICER

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OA No: 578/2022 Date of Institution: 01.04.2022 Date of Decision: 13.10.2023

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HDFC Bank Ltd., branch office amongst other places one at Pulwama, State J&K.

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……..Applicant

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Vs.

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Ali Mohammad Ganaiee S/o Mohammad Ismile Ganaiee, R/o Village Jandwal, Tehsil and District Pulwama – 192301.

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Irfan Ali S/o Ali Mohammad Ganaiee, R/o Village Jandwal, Tehsil and District Pulwama – 192301.

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Jalal Uddin Ganaiee S/o Ghulam Ahmed Ganaiee, R/o Village Jandwal, Tehsil and District Pulwama – 192301.

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……….Defendants

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Advocates

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Sh. J.S. Sehgal, Counsel for the applicant bank. Defendants – ex parte

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OA for the Recovery of Rs.41,43,263/- with interest @12% per annum with half yearly rests from 02.10.2021.

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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.41,43,263/- with interest against Sh. Ali Mohammad Ganaiee and others (defendants).

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Bank’s case is that on 18.02.2015, it had granted a C.C Limit of Rs.30.00 Lacs to defendant No.1 and 2 for agricultural purpose. Defendant No.3 had stood guarantor. To secure the loan, Defendant No.1 had mortgaged his land (fully detailed in para No.3(A) of the application). The loan was chargeable to interest @12% per annum with half yearly rests. On 02.10.2021, a sum of Rs.41,43,263/- was due from

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the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.
3. On 22.04.2022, summonses were sent to the defendants by
registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 09.12.2022, they were proceeded_ex_ parte.
4. In order to prove its case, the Bank has placed on record the affidavit of Mr. Jatinder Mishra, Assistant Manager along with the loan and security documents and marked them as Exhibit A-1 to A-12.
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.30.00 Lacs and on 02.10.2021, a sum of Rs.41,43,263/- was due.
6. Accordingly, the application of the bank for the recovery of
Rs.41,43,263/- (Rupees Forty One Lacs Forty Three Thousand Two
Hundred and Sixty Three Only) with interest @12% per annum with half yearly rests from 02.10.2021, till the date of payment is hereby allowed with costs. The liability of all the defendants would be joint and several.
Bank can recover its dues by the sale of mortgaged land fully detailed in para No.3(A) of the application as well as from the personal movable and immovable property(ies) of the defendants. 7. Pending IAs, if any, stand disposed of.
8. Recovery Certificate be issued accordingly.
9. Parties are directed to appear before Recovery Officer on
16.11.2023 who is directed to distribute the sale proceeds of the
mortgage land and standing crops as per the provisions of Section 19(20- AB) of the Act.

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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: 13.10.2023 Presiding Officer DRT-1, Chandigarh Pankaj

Hdfc Bank v. Ali Mohammad Ganaiee

Case brief

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Hdfc Bank v. Ali Mohammad Ganaiee

Case brief

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