Allowed

Hdfc Bank v. Jai Dada Kali Singh Earthes Mover

DRT15 Mar 2024OA/1284/2023

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the Applicant Bank's OA to recover a loan of Rs.24,87,151.47/- plus interest against the borrowers and guarantor. The liability was held joint and several, and proceeds from sale of mortgaged and personal movable or immovable properties were directed for recovery, with parties directed to appear for distribution.

What did the court decide?

Recovery of Rs.24,87,151.47/- with interest @9.51% p.a. allowed; Joint and several liability directed; Recovery Certificate issued.

Hdfc Bank versus Jai Dada Kali Singh Earthes Mover — Execution and Attachment | DRT (2024)

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IN THE DEBTS RECOVERY TRIBUNAL-II, CHANDIGARH

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BEFORE: A S NARANG, PRESIDING OFFICER

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OA No: 1284/2023 Date of Institution: 02.09.2023

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Date of Decision: 15.03.2024

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HDFC Bank Limited at Plot Nos.1-15, Sector-101, ALPHA IT City, SAS Nagar, Mohali

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……..Applicant Vs.

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Jai Dada Kali Singh Earthes Mover, through its Proprietor, Sh. Birbal, VPO Puthar, Near Chaupaal, Israna, Panipat, Haryana132107

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Sh. Birbal S/o Ishwar Singh, 538, Puthar (85), Puthar, Panipat, Haryana-132107

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Sh. Brijesh Kumar S/o Sh. Birbal, 538, Puthar (85), Puthar, Panipat, Haryana-132107

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……….Defendants

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Advocates

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Ms Dipti Toni proxy counsel for Sh. Gagandeep Toni, Counsel for the applicant bank. Defendants- ex parte

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OA for the Recovery of Rs.24,87,151.47/- with interest @9.51% per annum with monthly rests from 02.09.2023.

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ORDER

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HDFC Bank Limited (Applicant Bank) has filed this application under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993 (RDB Act) for the recovery of Rs.24,87,151.47/- with interest against Jai Dada Kali Singh Earthes Mover and others (defendants).

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Bank’s case is that it had granted a loan of Rs.27,36,094/- to defendant Nos.1 and 2 for purchase of vehicle. Defendant No.3 Stood as guarantor. The loan was chargeable to interest @9.51% per annum. On 03.08.2023, a sum of Rs.24,87,151.47/- was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.

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On 19.09.2023, summonses were sent to the defendants by registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 30.10.2023, they were proceeded ex parte .

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In order to prove its case, the Bank has placed on record the affidavit of Ms Khushpreet Bains, Manager Legal along with the loan and security documents and marked them as Exhibit A-1 to A-9. 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.27,36,094/- and on 03.08.2023, a sum of Rs.24,87,151.47/- was due. 6. Accordingly, the application of the bank for the recovery of Rs.24,87,151.47/- (Rupees Twenty Four Lakh Eighty Seven Thousand One Hundred Fifty One and Forty Seven Paisa Only) with interest @9.51% per annum with monthly rests from 02.09.2023, 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 the hypothecated/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 19.04.2024, who is directed to distribute the sale proceeds as per the provisions of Section 19(20-AB) of the Act . 10. A Copy of this order along with Recovery Certificate be sent to the Recovery Officer as well as the parties.

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Pronounced in the open court. (A S Narang) Dated: 15.03.2024 Presiding Officer DRT-2, Chandigarh (Additional charge)

Hdfc Bank v. Jai Dada Kali Singh Earthes Mover

Case brief

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Hdfc Bank v. Jai Dada Kali Singh Earthes Mover

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