Allowed

Hdfc Bank v. Sh Mangal Singh

DRT18 Apr 2024OA/1753/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the bank's application under Section 19 RDB Act. The court found the loan advance and outstanding sum proved. Recovery was ordered against mortgaged land and personal property with a direction to issue a Recovery Certificate.

What did the court decide?

Recovery of Rs. 22,16,781.09 p with interest @11% per annum allowed. Recovery Certificate issued. Mortgage property and standing crops to be sold and proceeds distributed.

Hdfc Bank versus Sh Mangal Singh — Banking and Recovery | DRT (2024)

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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: 1753 of 2022 Date of Institution: 24.08.2022 Date of Decision: 18.04.2024

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HDFC Bank Ltd., having a branch office at Jaitu, District- Faridkot, Punjab.

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……..Applicant

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Vs.

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Sh. Mangal Singh S/o Sh. Bachan Singh, R/o Village Chandbhan, Near Railway Line, Tehsil Jaitu, District- Faridkot.

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Sh. Bachan Singh S/o Sh. Dalip Singh, R/o Village Chandbhan, Near Railway Line, Tehsil Jaitu, District- Faridkot.

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……….Defendants

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Advocates

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Sh. Soarabh Modi, Counsel for the applicant bank. Defendants- Ex parte.

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OA for the Recovery of Rs.22,16,781.09p with interest from 24.08.2022.

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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.22,16,781.09p with interest against Sh. Mangal Singh And Another(defendants).

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Bank’s case is that on 21.02.2017, it had granted Retail Agri Cash Credit (KCC) of Rs.10.25 lacs and Farm Development Loan- DOD of Rs.2.75 lacs, totaling Rs.13.00 lacs, to defendants for agricultural purpose. To secure the loan, Defendant no.1 had mortgaged his land admeasuring 24 Kanals, situated at Village Chand Bhan, Tehsil Jaitu, Distt. Faridkot, Punjab (fully detailed in para No.3A of the application). The said loan facilities were chargeable to different rate of interests. On 30.09.2021, a sum of Rs.22,16,781.09p 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 07.09.2022, summonses were sent to the defendants by registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 05.07.2023, they were proceeded ex parte .

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In order to prove its case, the Bank has placed on record the affidavit of Mr. Parampreet Singh Kahlon, Assistant Manager along with the loan and security documents and marked them as Exhibit A-1 to A-8. 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 facilities of Rs.13.00 lacs and on 30.09.2021, a sum of Rs.22,16,781.09p was due. 6. Accordingly, the application of the bank for the recovery of Rs.22,16,781.09p (Rupees Twenty Two Lacs Sixteen Thousand Seven Hundred Eighty One And Paisa Nine Only) with interest @11% per annum with half yearly rests from 24.08.2022, 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 property i.e. land admeasuring 24 Kanals, situated at Village Chand Bhan, Tehsil Jaitu, Distt. Faridkot, Punjab, fully detailed in para No.3(A) of the application, as well as from the personal movable and immovable property(ies) of the defendants.

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Pending IAs, if any, stand disposed of. 8. Recovery Certificate be issued accordingly. 9. Parties are directed to appear before Recovery Officer on

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20.05.2024 , who is directed to distribute the sale proceeds of the

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mortgage property and standing crops 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. Pronounced in the open court. (A S Narang) Dated: 18.04.2024 Presiding Officer DRT-1, Chandigarh

Hdfc Bank v. Sh Mangal Singh

Case brief

What is this about?

What did the court decide?

Hdfc Bank v. Sh Mangal Singh

Case brief

What is this about?

What did the court decide?

What the court decided

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