DRT-III, Chandigarh allowed the applicant bank's Original Application under S. 19 RDBFIA. The court directed the defendant to pay Rs. 29,42,001.95 plus simple interest at 8% p.a. from the date of filing.
To recover Rs. 29,42,001.95 from defendant's personal assets via execution, payable with costs and simple interest at 8% p.a. from OA filing date.
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DEBTS RECOVERY TRIBUNAL-III, CHANDIGARH
ORIGINAL APPLICATION NO.937/2023
PRESIDED OVER BY MRIDULESH KUMAR SINGH
DATE OF INSTITUTION: 02.08.2023
DATE OF DECISION: 22.05.2024 HDFC Bank Ltd., having its registered office at Senapati Bapat Marg, Lower Parel-(West), Mumbai-400013 having Regional Office at Plot No.1-15, Sector 101, Mohali, Punjab through its Authorised Representative Mr. Kabir Chopra.
……..Applicant Versus
Sh. Manjinder Singh S/o Sh. Manjit Singh, R/o House No.921, VPO Barara(Dhabi) Tehsil Barara District Ambala, Haryana -133201
….……Defendant
Advocates: Argued by Sh. Karan Yuvraj, Advocate proxy for Sh. Amit Rishi, Advocate for the applicant Defendant is ex-parte
FINAL ORDER
2
Annexure A4 to this OA; Demand Notice dated 18.01.2023 along with Original Postal Receipt, which is Annexure A5 to this OA and Statement of credit cards along with Banker Book of Evidence, which is Annexure A6 to this OA.
3
@1.50%p.m. along with @2%p.a. penal interest in both the loan accounts with costs from 01.12.2022 till the realization.
The Tribunal is of the considered opinion that sometimes in appropriate cases the prerogative of mercy is the brightest jewel in the crown of the Judge. Keeping in view the facts and circumstances of the instant case including quantum of loan and prevalent market rates of interest which have gone drastically downhill in yester years, while exercising the discretion vested in this Tribunal, this Tribunal deems it just and appropriate to grant uniform simple interest @8.00%p.a.(@0.67%p.m.) in both the credit cards from the date of filing of the OA till realization of the amount ordered vide this final order. It is ordered accordingly.
Tribunal on 10.06.2024
Pronounced by me in the open Tribunal.
Dated: 22.05.2024
(MRIDULESH KUMAR SINGH) Presiding Officer, DRT-III, Chandigarh
1 issue framed by the court
Whether the applicant bank is entitled to recover the outstanding credit card dues under Section 19 RDBFIA.
1 provisions across 1 enactments
HDFC Bank Ltd.
MRIDULESH KUMAR SINGH
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
