Allowed

Hdfc Bank Ltd. v. Arindam Chakraborty

DRT22 Apr 2024OA/501/2022

Case brief

AI extract

What is this about?

DRT allowed HDFC Bank's recovery application ex-parte against the debtor. The court accepted the evidence on affidavit, declared the claim secured by hypothecation of vehicles, and directed issuance of a recovery certificate under Section 19(2) of the Debt Recovery Act.

What did the court decide?

Recovery Certificate directed to be issued for Rs. 44,82,211.17P with applicable interest; claim allowed with cost.

Hdfc Bank Ltd. versus Arindam Chakraborty — Banking and Recovery | DRT (2024)

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BEFORE THE DEBTS RECOVERY TRIBUNAL-I KOLKATA

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PRESENT: -SHRI AMBUJA MOHAN DAS PRESIDING OFFICER

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O.A. No. 501 OF 2022

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DATE OF DELIVERY OF ORDER : 22^nd April, 2024

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HDFC Bank Ltd. , incorporated under the Companies Act, 1956, and carrying on banking business under license granted by Reserve Bank of India under the Banking Regulation Act, 1949 and having its Registered Office at HDFC Bank House, Senapati Bapat Marg, Lower Parel West, Mumbai - 400013, having one of its branch office at Nabadwip Branch and service of notice at Gillander House, 1^st Floor, Block-A, 8, Netaji Subhas Road, Kolkata-700001.

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..............APPLICANT

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Arindam Chakraborty, Borrower, Sulantu Uttar Paruliya, Purbasthali, Nandaghat, Near Sulantu, Paper Mills, Burdwan, West Bengal-713513.

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................DEFENDANT

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Counsel for the Applicant Bank: - Ms. Mekhala Kanji, Ld. Counsel Counsel for the Defendant:- Set ex-parte on 27.02.2024

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J U D G M E N T

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The present Recovery Application is filed by the HDFC Bank Ltd. , a body corporate incorporated under the Companies Act, 1956, and having one of its branch office at Nabadwip Branch and service of notice at Gillander House, 1^st Floor, Block-A, 8, Netaji Subhas Road, Kolkata-700001 for recovery of Rs. 44,82,211.17P with interest as per contractual rate @ 11.02% p.a., @ 9.52% p.a. and @ 9.53% P.a. for commercial vehicle loans and @ 9.25% for GECL account with monthly rest from 27.09.2022 against the Defendant till payment and/or realization. The Defendant is the borrower/guarantor/mortgager.

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2. The service of summon was effected upon the Defendant in usual mode of postal service. Despite substituted service of summons and giving sufficient time, the Defendant is not appeared nor filed the Written Statement to controvert the claim of the Bank. Hence, the defendant is declared ex-parte on 27/02/2024.

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The Applicant in support of its contention filed Evidence on Affidavit duly affirmed by Ms. Asha Mehta, Manager (Legal) of the Bank annexing the various documents which are exhibited.

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I have perused the documents and Evidence and heard the Ld. Advocate for the Bank. By the said evidence on affidavit the Applicant could prove its claim and documents. The claim of the Bank is within the limitation and within the jurisdiction of this Tribunal. Hence, the claim of the Bank should be allowed with cost.

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In the above circumstances it is ordered :

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O R D E R

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i) Claim of the Applicants is allowed with cost.

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ii) The Defendant is liable to pay Rs. 44,82,211.17P with interest as per contractual rate @ 11.02% p.a., @ 9.52% p.a. and @ 9.53% p.a. for commercial vehicle loans and @ 9.25% for GECL account with monthly rest from 27.09.2022 against the Defendant till payment or realization.

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iii) It is declared that the claim is secured by hypothecation of vehicles described in the schedule-A in the OA of page no. 29.

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iv) Let, a certificate be issued accordingly.

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v) Ld. Recovery Officer shall realize the amount as per the Recovery Certificate from the defendant in accordance with law.

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vi) Ld. Registrar of this Tribunal is directed to deliver recovery certificate in term of the final order/judgment for recovery of the sum against the defendant in favour of the Applicant Bank under Section 19 (22) of the Recovery of Debts due to the Bank and Financial Institutions Act, 1993 now known as Recovery of Debts and Bankruptcy Act, 1993.

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vii) The parties are directed to appear before the Recovery Officer on 12/06/2024 for further action in accordance with law in the event the entire amount is not paid by the said date.

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Accordingly, the Original Application being O.A. No. 501 of 2022 is allowed and stands disposed of. All the IAs, if any, are also disposed of.

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Copy of the Judgment/Final Order be uploaded in the Tribunal’s website.

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File is consigned to the Record Room.

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(Dictated to Stenographer, transcribed by her, corrected, signed and

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pronounced by me in the open Court on this the day of 22^nd April, 2024)

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Place: Kolkata ( Ambuja Mohan Das ) Date: 22^nd April, 2024 Presiding Officer

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Page No.-	Order Sheet(continuation)
Case No. OA/	501/2022 HDFC Bank Ltd. Vs Arindam Chakraborty
Date of the order	Order with signature	Office action with date a dated signature of parties whe necessary
22^ndApril, 2024	Ld. Advocate Ms. Mekhala Kanji appears for the applicant bank. None is present on behalf of the Defendant.
	Matter was heard in open Court on this the day of 27/02/2024. The detailed order in three pages annexed separately. The gist of the

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order is as follow	s: O R D E R
i) ii)	Claim of the Applicants is allowed with cost. The Defendant is liable to pay Rs. 44,82,211.17P with interest as per contractual rate @ 11.02% p.a., @ 9.52% p.a. and @ 9.53% p.a. for commercial vehicle loans and @ 9.25% for GECL account with monthly rest from 27.09.2022 against the Defendant till payment or realization.
iii) iv)	It is declared that the claim is secured by hypothecation of vehicles described in the schedule-A in the OA of page no. 29. Let, a certificate be issued accordingly.
v) vi) vii) Accordin allowed and stan Copy of website. File is co (Dictated t and prono April, 2024	Ld. Recovery Officer shall realize the amount as per the Recovery Certificate from the defendant in accordance with law. Ld. Registrar of this Tribunal is directed to deliver recovery certificate in term of the final order/judgment for recovery of the sum against the defendant in favour of the Applicant Bank under Section 19 (22) of the Recovery of Debts due to the Bank and Financial Institutions Act, 1993 now known as Recovery of Debts and Bankruptcy Act, 1993. The parties are directed to appear before the Recovery Officer on 12/06/2024 for further action in accordance with law in the event the entire amount is not paid by the said date. gly, the Original Application being O.A. No.501 of 2022 is ds disposed of. All the IAs, if any, are also disposed of. the Judgment/Final Order be uploaded in the Tribunal’s nsigned to the Record Room. o Stenographer, transcribed by her, corrected, signed unced by me in the open Court on this the day 22^nd )
Place: Kolkata Date: 22^ndApril,	( Ambuja Mohan Das ) 2024 Presiding Officer

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Hdfc Bank Ltd. v. Arindam Chakraborty

Case brief

What is this about?

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Hdfc Bank Ltd. v. Arindam Chakraborty

Case brief

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