Allowed

Hdfc Bank v. Shri Anil Hada

DRT8 Aug 2024OA/738/2023

Case brief

AI extract

What is this about?

The adjudicating officer allowed the applicant bank's original application for recovery of dues from defendants who secured commercial vehicle loans and failed to repay. Interest was granted pending litigation and recovery certificate is directed to be issued.

What did the court decide?

Payment of claim amount with interest granted and restraint on transfer of assets ordered. Recovery Certificate issued.

Hdfc Bank versus Shri Anil Hada — Banking and Recovery | DRT (2024)

¶1

DEBTS RECOVERY TRIBUNAL : JABALPUR

¶2

(for the States of Madhya Pradesh and Chhattisgarh)

¶3

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

¶4

Original Applicotion No.^- 738123

¶5

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

¶6

Versus

¶7

Shri Anit Hada, S/o Laturam Hada

¶8

Shri Gopa[ Hada, S/o Laturam Hada

¶9

(Both R/o 145, Aarjun Nagar,

¶10

Ward 01, Agar, Matwa, M.P.^465441)

¶11

..... Defendants

¶12

Counsel for the Appticant : Shri Viput^{Saraswat, Advocate} Defendants : Ex-Parte

¶13

J_uDGldll'l_I (oatea: o-@20241

¶14

The Appticant-Bank has fited the^{present OriginalApptication} u/s 19 of Recovery of Debts^{and BankruptcyAct on 08106123against the} Defendants for recovery of Rs.^{22,74,597.72(Rupees Twenty Two Lac,} Seventy Four Thousand, Five Hundred^{Ninety Seven and Paisa Seventy Two} onty) atong with interest and other^{retiefsas stated.}

¶15

The brief facts of the case are that on the^{request of} Defendant No.-1 and 2, the Appticant^{Banksanctioned CommercialVehicte} facitity of Rs. 21,89,472l- on 20105122^{and in} consideration^{of the same,the} Defendant No.-1 and 2 executed requisite loan and^{guarantee documents.} The Defendants avaited the credit facitities but^fail,ed to^{tiquidate the} outstanding dues despite issuance of Legat Notice on^{01105123by the} Appticant Bank. The Appticant-Bank has retied upon the documents^{at Ex A-1} to A-9 which were proved by Shri Akarsh Jain, Legat Manager.

¶16

Despite service of notice, the Defendants neither appeared^nor fited written statement. They were proceeded ex-parte vide order dated 19103174. There is therefore, no reason to disbetieve the contentions of the

I-t

oA738123

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 appticationhas ctaimed [email protected]%} p.a. I feet it fair and reasonabte to^grant interest @09.75%^{p.a. simpte} pendentetite and future titl, reatization of the dues.^{The personal properties} and assets of the Defendants are tiabte to be^{sotd for recoveryof amount} due.

¶21

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

¶22

i) The Defendants do pay^jointty and severatty Rs. 22,74,597.77 (Rupees Twenty Two Lac, Seventy Four Thousand, Five Hundred Ninety Seven and Paisa Seventy Two onty) together with^pendentetite and future interest @9J5% per annum simpte from the date of fiting of the OA,^i.e., 08/06/73, with costs titt its reatization.

¶23

ii) The Appticant Bank is entitted to setl the personal^properties and assets of the Defendants for reatization of its dues. The Defendants are hereby restrained by means of injunction from depleting, transferring, encumbering, alienating or in any way deating with their^{properties/assets} without first paying the ctaim of the Appticant Bank.

¶24

iii) A Recovery Certificate be issued u/s 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.

¶25

Judgment pronounced in the open court on this 08th Day of August, 2074.

¶26

.@' b (Ram Niwas Patet) Presidine Officer

Hdfc Bank v. Shri Anil Hada

Case brief

What is this about?

What did the court decide?

Hdfc Bank v. Shri Anil Hada

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

Similar cases

Uco Bank versus Subhash Chandra Singh

Idbi Bank versus Kanhaiyalal Sahu

Abhimanyu Kumar Singh versus Punjab National Bank

Bank of India versus M/s Shri Keshav Poha Mill

Hdfc Bank versus Delan Singh Rajput S/O Ratan Singh

State Bank of India versus Premnarayan Patel