Allowed

Hdfc Bank v. Mr Debashish Talukdar

DRT14 Aug 2024OA/290/2023

Case brief

AI extract

What is this about?

The Tribunal allowed an application under Section 19 of the RDBFI Act filed by HDFC Bank to issue a Recovery Certificate against a borrower for a personal loan. The bank pleaded default and NPA classification. The Tribunal found the documents unchallenged and liability established, issuing the certificate with costs.

What did the court decide?

Recovery Certificate issued for Rs. 29,07,912.83 with interest and costs; Bank entitled to proceed against secured and personal assets.

Hdfc Bank versus Mr Debashish Talukdar — Contract and Commercial Disputes | DRT (2024)

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o.A 2gopo23lDRT,Guwaharr

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IN THE DEBTS RECOVERY TRIBUNAL, GUWAHATI

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(North Eastern Region) (Tribunal of Assam, Nagatand, Meghataya, Manipur, Mizora;, Arunachat pradesh & Tripura) Shri sh Du

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O.A. No. 290/2023

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ln the matter of -

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HDFC BANK LTD. Rukminigaon Branch A. P. TOWER, 3d Ftoor, G.S Road, Guwahati- 781022,

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District- Kamrup (Metro), Assam.

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... .Applicant

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Vs.

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MR. DEBASHISH TALUKDAR Son of Uttam Talukdar

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Resident of Nesac Residential Campus OJficeB Block, etr No. 07, Umiam Borapani, Near Operative Shopping Complex_7g3b01.

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ALSO AT

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Baihata Chariali, Goreswar Road, Mazgaon Baihata Chariali, Near Mazgaon High S;hoot Guwahati, Assam-78.1381

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ALSO AT Office Address: Department of Space Nesac Campus, Umiam, Shillong, Near Mse B Road-793001.

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ALSO AT

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C/o Uttam Talukdar, New Guwahati Railway Colony, cuwahati, Assam-793103.

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... Dafendant

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Presence of the Counsgl :

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For the Applicant : Mr_ Mukesh Sharma, Ms. Ellora Bharali, Advocates For the Defendant : None (Ex-parte)

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oated :.t 4to812024

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JUDGMENT

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This is an application under section 19 of the Recovery of Debts Due to Banks and Financial lnstitutions Act, 1993 fited by the HDFC Bank Ltd. Rukminigaon Branch A P TOWER, 3d Floor, G.S Road, cuwahati_78i 022. District - Kamrup (Metro), Assam, with a prayer to issue Recovery Certificate for the sum of

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**wW

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O A 290/2023!ORT€sthair

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Rs. 29,07,912.83 (RuP3o3 Twonty-Nino Lacs Sovon Thousand Nine Hundred

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Twolvo .nd Paba Elghty-Throol only as on 13.06.2023 against lhe defendant with pendenlelite and future interest at contractual rates with monthly rests till realization along with cost and other relief.

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A few facts giving risa to the^present application are as under.

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The Defendant is the Borrower who availed the Personal Loan from the Applicant Bank.

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The Defandant had approached the applicant bank and applied for Personal Loan vide loan application datad 26.08.2022, and after considering the said application, the Applicant Bank on 14.09.2022 had sanctioned a sum of Rs.29,25,688.00 as Personal Loan to tha Defendant with the interest charged at 10.25o/o (fixedl^p.a. calculated on daily^product at monthly rests and in case of default, the bank shall be entitled to charge an additional interest @ 2%^per month or such rate as may be specified by the bank from time to time. The aforesaid Personal Loan was initially repayable for 60 months repayable in monthly inslallments of Rs.62,523.00 commencing from 06.10.2022 to 06.09.2027. ln connection with the said Sanction of Rs.29,25,688.00, the Oefendant had signed and executed an Personal Loan Agreemenl datad 14.09.2022 in favour of the Applicant Bank as security for repaymenl of the loan facility, thereby agreeing to all terms and conditions laid down in the said agreements. The aforesaid PeGonal loan was disbursed through the loan Account No.133460157 standing in the name of Defendant no.1.

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ln connection with th6 sanction of the aforesaid Personal Loan of Rs.29,25,688.00 sanctioned by the Applicant Bank, the Defendant had signed and execuled an Acknowladgemani letler and Consent to be obtained from customers both dated 14.09.2022.

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As the Defendanl has failed to repay the outstanding amount in the loan account and as such the loan accounl of the defendant was classified as NonPerforming Asset (NPA) on 06.03.2023 in accordance wilh the directives and guidelines of Reserve Bank of lndia. Sli^t+ard., ht-

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Sli^t+ard., htmru,#q'"lq^/

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o.a 2902023,/oRr-cuw.hari

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As the Defendant has failed to repay the outstanding amount in th6 loan account, the Applicant Bank had demanded and requested the Defendant to regularize the loan accounl by paying the outstanding amount in the loan account including the accrued lnterest thereon. But the Defendant failed to make any payment thereof. Thereafter, the Applicant through its Counsel has sent a legal notice of demand dated 14.06.2023 whereby it was demanded and requested the Defendants to repay the total outstanding amount in the loan account along with interest charges (as per Loan Agreement) within 7 (Seven) days from the date of the notice, but the defendants failed to comply with the same.

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The statements of Accounts maintained by the Applicant Bank in the usual and ordinary course of business shows that there is an outstanding balance of Rs. 29,07,9'12.83 as on 13.06.2023 under Personal Loan Account No.^'133460157 and the accounts became NPA 06.03.2023 and as such the Defendant is legally bound and liable to repay lhe said amount to the Applicant Bank with interest till realization with cost and charges.

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The applicant bank thus became constrained to file the present Orjginal Application for the recovery of Rs. 29,07,912,83 (Rupees Twenty-Nine Laca Seven Thourand Nine Hundred Tw6lvo end Paisa Eighty.Three) only as on 13.06.2023 along with interesl and cost of the application.

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After filing of the OA tha Tribunal issued notice upon the defendant through ragistered post and the applicant bank filed service report on 03.10.2023 and brought on record the postal receipt along with track consignment report which shows that the notice has not been served upon the sole defendant by nams. Thereafter the Tribunal ordered^{paper publication} of notice upon the sole defendant and the applicant bank issued notice to the defendant through Paper Publication in two newspapers namely^"Ihe Tinpsof lndia^" and 'Darh,k Assam" both dated 10.01.2024. Even after issuing notice through^{paper publication} upon the defendant there has been no repr€sentation on behalf of the sole defendant either by th6 counsel or the^person and hence the defendant was set ex-parte on 20.03.2024 and the matter was^posted for ex-parte hearing on behalf of the applicant bank.

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\d"tl Prcsiding \l oRT, Guwahati W,

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g.A 290r'202!DRr€urahdi

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Supporting the daim of the applicant bank pranial Bhuyan, Oeputy Manager of the Applicant Bank has filed evidence on affidavit coupted with the security documents ma*ed as Exhibit-p, Exhibit- AW-1/1 to AW-1t7, supporting the claim of the applicant bank.

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Heard the learned counsel for the applicant bank who prayed for issuance of Recovery Certificate against the defendani as per pleadings made in the Application, supported by evidence on affidavit of their witness who affirmed on oath the execution of lhe security and other documenrs by th€ defendant and arso execurion of their own documents relied upon, which have been ma*ed exhibits.

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Considering the facts and circumstances of the case, I am of the considered view that the document filed by the applicanl bank are supporting the ctaim of the applicant bank and establishing the liability of the defendant. lt is proved that tha defendant is liable to pay to the appticant bank the claim made in the Original Application. The loan was obtained and documents have been executed on '14.09.2022. The account became NpA on 06.03.2023 and the OA has been fited on 19.07.2023. Hence, the OA is filed welt within the period of limitation and this Tribunal having a jurisdiction to adiudicate the Original Application.

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Considering the unchallenged/unrebutted version of pranjal Bhuyan, the applicant's witness and all the documents ma*ed as exhibits, including duly certified copy of the statement of account along with interest calculation sheet maintained by the applicant Bank in it's regular couEe of business, I hold that the applic€nt is entifled to get the Recovery Certificate as prayed for.

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ln the result, the present Original Application No. 290 of 2023 is allowed with cost as under :-

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l) The sole defendant is tiable to pay to the applicant bank a sum of Rs. 29,07,912.83 (Rupees Twenty-Nine Laca Seven Thousand Nine Hundred Twolvo and Paisa Eighty-Three) only with pendentetite and future interest @'10.25yo^{per annum} with monthty rests from 14.06.2023 till the date of full paymenvrealization and also cost of the application.

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:,Y^ffiiq'l

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o.A. 2gcv2o2aDRTcuw.h i

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ii) The applicant bank is entitled to proceed against the secured items towards

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recovery of the debts.

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iiD The applicant bank is also entitled to procaed against the personal assets and properties of the defendanl towards recovery of the dues.

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iy) The applicant bank is entitled to the costs of th6 O.A. which includes the advocale fees of the applicant bank. Applicant is direcGd to file the cost memo within 2 w€€ks from today.

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y) lssue Recovery Certificate accordingly for a sum Ra. 29,07,912.83 (Rup€e3 Twenty-Nlno L.ca Soyen Thous.nd Nlno HundEd Trelvo rnd^pab.

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Elghty-Throo) only in favour of the applicant bank against the sole defendant.

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yi) Communicate copy of this order to the concamed parties.

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This order is dic,tated and conected by the undorsigned.

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Judgment dated 14h August 2024, signed and pronounced in the Tribunal

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today under my signature.

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Copy of the JudgmenuFinal Order be uploaded in the Tribunel,s Web8ite and

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file be consigned to Rocord Room.

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,.,,*,mff47 Prosiding Officer DRT, Guwahati.

Hdfc Bank v. Mr Debashish Talukdar

Case brief

What is this about?

What did the court decide?

Hdfc Bank v. Mr Debashish Talukdar

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

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