Allowed

Hdfc Bank v. Sh. Rishi Pal

DRT15 Mar 2024OA/2166/2022

Case brief

AI extract

What is this about?

In an ex parte application under Section 19 of the RDB Act, the Tribunal allowed HDFC Bank's prayer for recovery of dues. The Court validated the bank's evidence of loan and mortgage security, directed the issue of a Recovery Certificate, and ordered the sale of mortgaged property to satisfy the debt.

What did the court decide?

Recovery of Rs. 58,17,085.06 with interest granted; Recovery Certificate issued; Mortgaged land and standing crops directed to be sold to satisfy dues.

Hdfc Bank versus Sh. Rishi Pal — Contract and Commercial Disputes | 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: 2166/2022 Date of Institution: 28.10.2022 Date of Decision: 15.03.2024

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HDFC Bank Limited at Bahu Jamalpur, Rohtak, Haryana

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……..Applicant

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Vs.

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Sh. Rishi Pal S/o Sh. Rattan Singh R/o VPO Gurauthi (92), Gurauthi, District Rohtak, Haryana-124001

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Smt. Sonia W/o Sh. Rishi Pal R/o VPO Gurauthi (92), Gurauthi, District Rohtak, Haryana-124001

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Sh. Bijender S/o Sh. Rattan Singh R/o VPO Gurauthi (92), Gurauthi, District Rohtak, Haryana-124001

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Sh. Rajender S/o Sh. Rattan Singh R/o VPO Gurauthi (92), Gurauthi, District Rohtak, Haryana-124001

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Sh. Ramesh S/o Sh. Rattan Singh R/o VPO Gurauthi (92), Gurauthi, District Rohtak, Haryana-124001

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Sh. Karambir S/o Sh. Bijender Singh R/o VPO Gurauthi (92), Gurauthi, District Rohtak, Haryana-124001 ……….Defendants

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Advocates

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Sh. Amit Rishi, Counsel for the applicant bank. Defendants- ex parte

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OA for the Recovery of Rs.58,17,085.06/- with interest @13% per annum with half yearly rests from 28.10.2022.

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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.58,17,085.06/- with interest against Sh. Rishi Pal and others (defendants).

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Bank’s case is that on 21.08.2019, it had granted CC Limit of Rs.7,00,000/- and CC-I Limit of Rs.38,00,000/- to defendant Nos.1 to 5

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for agricultural purpose. Defendant No.6 stood as guarantor. To secure the loan, defendant Nos.1, 3, 4 and 5 had mortgaged their agricultural land measuring 76 Kanal 18 Marla (fully detailed in para No.3A of the application). The loans were chargeable to interest @13% per annum with half yearly rests. On 16.07.2022, a sum of Rs.58,17,085.06/- was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.

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On 07.01.2023, summonses were sent to the defendants by registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 11.10.2023, they were proceeded ex parte .

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In order to prove its case, the Bank has placed on record the affidavit of Mr. Raman Sharma, Manager Legal along with the loan and security documents and marked them as Exhibit A-1 to A-11. 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 loans of Rs.7,00,000/- and Rs.38,00,000/- and on 16.07.2022, a sum of Rs.58,17,085.06/- was due. 6. Accordingly, the application of the bank for the recovery of Rs.58,17,085.06/- (Rupees Fifty Eight Lakh Seventeen Thousand Eighty Five and Six Paisa Only) with interest @13% per annum with half yearly rests from 28.10.2022, 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 land fully detailed in para No.3A) of the application as well as from the personal movable and immovable property(ies) of the defendants.

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7. Pending IAs, i	f any, stand disposed of.

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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 of the mortgage land and standing crops as per the provisions of Section 19(20AB) 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: 15.03.2024 Presiding Officer DRT-2, Chandigarh (Additional charge)

Hdfc Bank v. Sh. Rishi Pal

Case brief

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What did the court decide?

Hdfc Bank v. Sh. Rishi Pal

Case brief

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