Hdfc Bank v. Sh. Ranjit Singh
Case brief
What is this about?
In an ex-parte application under Section 19 of the RDBFI Act, the Delhi DRT allowed HDFC Bank's claim for recovery of Rs.21.5 lakhs with uniform simple interest against two vehicle loan defaulters who failed to appear.
What did the court decide?
Allowed. Defendants to pay Rs.21,50,140.37 plus simple interest @9.25% p.a. jointly and severally; Recovery Certificate issued; proceeding to be in execution of the Mortgage Order.
What the court decided
DEBTS RECOVERY TRIBUNAL-III, CHANDIGARH
ORIGINAL APPLICATION NO.555/2023
PRESIDED OVER BY MRIDULESH KUMAR SINGH
DATE OF INSTITUTION: 23.01.2023
DATE OF DECISION: 22.04.2024
HDFC Bank is a body incorporated under the name and title as HDFC Bank Ltd. under the provisions of The Companies Act, 1956 and is having its Registered Office at Senapati Bapat Marg, Lower Parel (West), Mumbai-400013 and one of its branches at Retail Loan Service Centre, SCO 3, 1st Floor, Chotti Baradari, The Mall, Patiala-147001, through its Principal Officer and Constituted Attorney Mr. Rajendra Prasad, Legal Manager, Posted at HDFC Bank, Industrial Area, Phase 1, Chandigarh.
……..Applicant Versus
- Sh. Ranjit Singh S/o Sh. Hameer Singh, R/o Village Barri, Tehsil Dhuri, District Sangrur (Punjab)-148024
- Sh. Gurdeep Singh Bath S/o Sh. Ranjit Singh Bath, R/o Village Barri, Tehsil Dhuri, District Sangrur (Punjab)-148024.
………Defendants
Issues for consideration
2 issues framed by the court
Whether the applicant bank is entitled to recover the outstanding loan amount with interest from the joint and several liability of the defendants.
Whether the Tribunal can exercise discretion to grant uniform simple interest on the loan accounts.
Parties & counsel
- applicant
HDFC Bank Ltd.
- respondent
Sh. Ranjit Singh
- respondent
Sh. Gurdeep Singh Bath
Coram
Case details
As recorded by the court registry
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