Allowed

Hdfc Bank v. Delan Singh Rajput S/O Ratan Singh

DRT8 Aug 2024OA/308/2022

Case brief

AI extract

What is this about?

In this originating application under Section 19 of the RDB Act, the Debts Recovery Tribunal (Jabalpur) adjudicated a claim for bank loan recovery. The Tribunal allowed the bank's application against absent defendants, ordering payment of the principal sum with interest at 12% p.a. and authorizing the issuance of a recovery certificate.

What did the court decide?

Defendants to pay Rs. 31,97,260.00 with 12% p.a. interest; Recovery Certificate to be issued.

Hdfc Bank versus Delan Singh Rajput S/O Ratan Singh — Banking and Recovery | DRT (2024)

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DEBTS RECOVERY TRIBUNAL : JABALPUR

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(for the States of Madhya Pradesh and Chhattisgarh)

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(Presiding Officer - Hon'bte Shri Ram Niwas Patet)

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Originol Application No. - 308/22

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HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai 400013

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..... Appticant

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Versus

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Shri Detan Singh Rajput, S/o Ratan Singh

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Shri Ranveer Singh, S/o Detan Singh

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Smt. Radha Rani, W/o Shri Ratan Singh

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Shri Chandra Bhan Singh, S/o Ram Singh

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(Att R/o Vittage-Podi, Post-Adharpur, Tehsit-Kesti, District-Sagar, M.P.) ..... Defendants

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Counsel for the Appticant : Shri Viput SiraiSrilr.f, Advocate Defendants : Ex-parte

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JUDGMENT

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(Dated : OatF.luty, Zoz+y

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The Appticant-Bank has fited the present Originat Apptication u/s 19 of Recovery of Debts and Bankruptcy Act on 28/02/22 against the Defendants for recovery of Rs. 31 ,9l,260.oo (Rupees Thirty one Lac, Ninety Seven Thousand, Two Hundred and Sixty onty) atong with interest and other retiefs as stated.

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The brief facts of the case are that on the request of Defendant No.-1 to 3, the Appticant Bank sanctioned Cash Credit of Rs. 10 Lac and Term Loan of Rs. 6 Lac on 13/08114. ln consideration of the sanction of credit facitities the Defendant No.-1 to 3 as borrowers and Defendant No.4 as guarantor in addition to execution of loan and guarantee documents have atso created simpte mortgage over the immovabte property, i.€., agriculture [and bearing Survey No. -podi/2 3 /2/ Halka .-45 area 9.88 acre,

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oA308122

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podi/17311/Halka No.-45 area 6 acre.; Podi/Z3/3/Hatka^{No.-45 area9.88.\r} acre, totaI area^{75.76 acres, Viltage-Podi, Post-Adharpur,Tehsit-Kesti,} District-Sagar^{(M.P.).The Defendantsavaitedthe credit facitities but faited} to tiquidate the outstanding^{dues despite issuance of LegaI Noticeon} ZglOT /20 by the Appticant^{Bank.The Appticant-Bank converted the pending} instattment of the term loan^{account into new term [oan accountsas per the} direction of the^{RBI guidetines. The Appticant-Bank has retied upon the} documents at Ex. A-1 to^{A-14 whichwere proved by Shri Sanjay Bhadauriya,} Legal Manager.

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Despite service of notice, the^{Defendants neitherappeared nor} fited written statement. They were^{proceededex-parte vide order dated} 07/11173. There is therefore,^{no reason to disbetieve the contentionsof the} Bank. Considering the facts of^{the case, I opine that the Defendantsare} jointty and severatty tiabte to pay the ctaim amount together^{with interest} and costs. The Appticant-Bank^{in its apptication has ctaimed interest @14%} p.a. with penal interest in cash credit^{account and interest@24% p.a. with} penal interest in term loan account.^{However, I feel it fair and reasonabte} to grant interest @12%^{p.a. in both the accountssimpte pendentetiteand} future titt reatization^{of the dues. The mortgagedproperty is tiabte to be} sold for recovery of^{amount due atong with the personal propertiesand} assets of the^Defendants.

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The Originat Apptication^{is attowed and it is orderedas under-}

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i) The Defendants^{do pay jointty and severatty Rs. 31,97,260'00} (Rupees Thirty one Lac,^{Ninety seven Thousand,Two Hundred and sixty} onty) together^{with pendentelite and future interest@12%per annum simpte} from the date^{of fiting of the oA, i.€., 28102/2?-, with costs titt its} reatization.

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ii) The Appticant^{Bank is entitl.edto sett the mortgagedas wetl as} personal properties^{and assetsof the Defendantsfor reatization of its dues'} The Defendants^{are hereby restrained by means of injunctionfrom} depleting,^{transferring,encumbering,alienating or in any way dealingwith} their^{properties/assetswithout first paying the ctaim of the AppticantBank'}

oA308t22

iii) A Recovery Certificate be issued uls 19(22) of Recovery of Debts and Bankruptcy Act. The appticant bank may fite a memo of cost within 7 days for preparing Recovery Certificate.

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Judgment pronounced in the open court on this 08th Day of Juty, 2024.

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2L 1' ( m N Pa Presidine Officer

Hdfc Bank v. Delan Singh Rajput S/O Ratan Singh

Case brief

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Hdfc Bank v. Delan Singh Rajput S/O Ratan Singh

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