Allowed

Hdfc Bank v. Amol Balasaheb Dhamdhere

DRT2 Sept 2024OA/553/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal, Pune, allowed an application by HDFC Bank Limited for recovery of defaulted loan dues from two defendants who failed to appear. The Court reduced the claim amount by deducting prepayment and cheque bouncing charges, confirmed future interest, and ordered recovery secured by hypothecated property.

What did the court decide?

Rule in favor of the Applicant; Defendants to pay Rs. 33,16,164/ with future interest at 8.25% p.a.; Recovery enforced via sale of hypothecated property.

Hdfc Bank versus Amol Balasaheb Dhamdhere — Banking and Recovery | DRT (2024)

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Presented on : 11.03.2022 Registered on : 18.05.2022 Decided on : 02.09.2024 Duration : Y M D 02 05 21

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IN THE DEBTS RECOVERY TRIBUNAL AT PUNE (Before Shri Dilip G Murumkar, Presiding Officer) ORIGINAL APPLICATION No. 553/2022.

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HDFC Bank Limited, A Banking Company incorporated under the Companies Act, 1956, having its branch office at – 21/6, Ground Floor, MIT Marathon, Bund Garden, Pune 411 001.

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.. Applicant

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Versus

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1 Mr. Amol Balasaheb Dhamdhere, 45/4/A, Samrat Sport Club, Kharadi, Chandan Nagar, Pune 411 014. 2 Mr. Lalita Amol Dhamdhere, 45/4/A, Samrat Sport Club, Kharadi, Chandan Nagar, Pune 411 014. .. Defendants

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APPEARANCES

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For Applicant Advocate Pradip Yadav. For Defendants Ex parte.

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TOTAL CLAIM AMOUNT –Rs.33,79,333/-

(OA No. 553/2022)

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JUDGMENT (Delivered on 02^nd September, 2024)

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The Applicant Bank has filed the present application for recovery of the sum of Rs.33,79,333/- together with future interest @8.25% per annum from the date of Application till realization of the entire dues from the defendants.

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Brief facts of the application are as under :

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As per the loan application of the defendants, the applicant Bank sanctioned the following loan facilities to the defendants.

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Name of the facility	Amount	Date of sanction
Equipment Loan	30,17,840/-	24.03.2020
ECLGS	3,21,000/-	30.09.2020

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In order to secure the aforesaid loan facilities, the defendants executed necessary loan and security documents in favour of the applicant Bank along with deed of hypothecation of Ajax Agro 200 SLM Concrete Mixer bearing Engine No. 4H3233/2020039 and Chassis No. AF1ARG25HBL000699, in favour of the applicant Bank.

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The applicant Bank contended that facilities were granted to the defendants under the special scheme of ECLGS as

(OA No. 553/2022)

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announced by Government of India with 100% guarantee backed from the National Credit Guarantee Trustee Company (NCGTC), it is still due and recoverable from the defendants and to be compensated to NCGTC from the amounts to be recovered from the defendants. The defendants committed defaults in payment of installments and failed to regularize the accounts. Therefore, on 06.12.2021, the applicant Bank issued legal Notice to the defendants. Despite service of Notice, the defendants failed and neglected to pay the outstanding dues of the applicant Bank.

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Hence, this application is filed.

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The defendant failed to appear despite service of summons. Hence, the application proceeded ex-parte as per Order dated 31.01.2024 passed below Application (Exhibit-1).

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The applicant Bank has filed Claim Affidavit of evidence (Exhibit-6) of Rohan Madhukar Edake, Power of Attorney Holder of the applicant Bank, and has produced on record the original loan transaction documents at Sr. Nos. AW-1 to AW-8, which corroborates the case of the applicant Bank.

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I have heard arguments of the learned Advocate for the applicant Bank.

(OA No. 553/2022)

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Since the defendants failed to appear and contest the application, I find no reason to disbelieve evidence of the applicant Bank. Therefore, the applicant Bank is entitled for reliefs as claimed.

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The applicant Bank has claimed Prepayment Charges of Rs.52,158/-, Cheque bouncing charges of Rs.8,142/- and 2,869/- total of Rs.63,169/-, which cannot be granted and the same is required to be deducted from the total claim amount. Therefore, the total claim amount of Rs.33,79,333/- is reduced to Rs.33,16,164/-.

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The applicant Bank has claimed future interest @8.25% per annum. Considering the facts of the case, I am of the opinion that if future interest is granted @8.25% per annum (simple), it would be just and reasonable rate of interest.

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Hence, I pass the following order :-

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ORDER

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(A) Original Application No. 553/2022 is allowed with proportionate costs.

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(B) Defendant Nos. 1 and 2 either jointly or severally shall pay to the applicant Bank the sum of Rs.33,16,164/- (Rupees Thirty Three Lakhs Sixteen

(OA No. 553/2022)

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Thousand One Hundred Sixty Four only) along with future interest @8.25% per annum from the date of filing of the Original Application i.e. 11.03.2022 till full payment/realization of the amount mentioned in this operative order.

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(C) The aforesaid adjudicated amount is secured by the hypothecation of Ajax Agro 200 SLM Concrete Mixer bearing Engine No. 4H3233/2020039 and Chassis No. AF1ARG25HBL000699, more particularly described in Para No. 5.2 of the Original Application.

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(D) The applicant Bank is entitled to sell the hypothecated property to recover its dues.

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(E) Issue Recovery Certificate.

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(F) The Registrar is directed to send the copy of Judgment and Recovery Certificate to the applicant and defendants.

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Sd/(Dilip G Murumkar) Place : Pune Presiding Officer Date : 02.09.2024 Debts Recovery Tribunal, Pune.

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(OA No. 553/2022)

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Hdfc Bank v. Amol Balasaheb Dhamdhere

Case brief

What is this about?

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Hdfc Bank v. Amol Balasaheb Dhamdhere

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