Allowed

Hdfc Bank Limited v. Sh. Aman Deep

DRT22 May 2024OA/938/2023

Case brief

AI extract

What is this about?

The Debt Recovery Tribunal allowed the bank's application for recovery of Rs. 25,69,527.31. The defendant appeared ex-parte. The court granted uniform simple interest at 8% per annum and directed the recovery of the amount from the sale of the defendant's personal assets.

What did the court decide?

Director the Defendant to pay Rs. 25,69,527.31 with simple interest at 8% per annum from the date of filing the application till realization.

Hdfc Bank Limited versus Sh. Aman Deep — Banking and Recovery | DRT (2024)

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DEBTS RECOVERY TRIBUNAL-III, CHANDIGARH

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ORIGINAL APPLICATION NO.938/2023

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PRESIDED OVER BY MRIDULESH KUMAR SINGH

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DATE OF INSTITUTION: 02.08.2023

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DATE OF DECISION: 22.05.2024

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HDFC Bank Ltd., having its registered office at Senapati Bapat Marg, Lower Parel-(West), Mumbai-400013 also at Plot No.1-15, Sector 101, Mohali, Punjab through its Authorised Representative Mr. Kabir Chopra

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……..Applicant

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Versus

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Sh. Aman Deep S/o Sh. Rajbir Singh, R/o House No.388, Sanghour Singhaur, Sanghor, Kurukshetra, Haryana-136156 Also at:

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Sh. Aman Deep S/o Sh. Rajbir Singh, Axis Bank Limited Opposite Civil Hospital Barara Road, Ram Saran Majra (Babain), Gohana, Haryana131305 Kurukshetra, Haryana-136156

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….……Defendant

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Advocates:

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Argued by Sh. Karan Yuvraj, Advocate proxy for Sh. Amit Rishi, Advocate for the applicant Defendant is ex-parte

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FINAL ORDER

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Present Original Application was instituted by the applicant bank under Section 19 of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993, against the defendants for recovery of Rs.25,69,527.31p (Rupees Twenty Five Lacs Sixty Nine Thousand Five Hundred Twenty Seven and Thirty One Paise only). The Original Application has been filed through Mr. Kabir Chopra, Authorised Representative of the applicant bank, who is competent to institute the Original Application vide Board Resolution dated 17.10.2020, which is Annexure A1 to this OA.

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The brief facts of the OA are that the defendant had approached the applicant bank for the grant of Credit Facility (Credit Card) vide Credit Card Brochure Cum Application Form dated 04.07.2015, which is Annexure A2 to this OA.

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The applicant Bank sanctioned the Credit Card Facility and issued 2 credit cards having credit limit of Rs.9.97 lacs and Rs.2.75 Lacs and the terms and conditions were duly accepted by the defendant vide Most important terms and conditions and credit card Member agreement dated 06.07.2015, which is Annexure A3 to this OA.

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Documents executed:- Demand Notice dated 21.01.2023 along with Postal Receipt, which is Annexure A4 to this OA and Statement of credit cards along with Banker Book of Evidence, which is Annexure A5 to this OA.

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The accounts of credit cards became irregular and were classified as NPA and after adjusting debit and credit entries, there was a debit of Rs.25,69,527.31p, which is recoverable and the defendant was served recall notice but he did not repay the outstanding amount, therefore, the applicant bank requested to accept the application and to issue Recovery Certificate accordingly.

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The defendant was served notice to appear before this Tribunal but no one appeared on behalf of defendant and he was proceeded exparte on 16.05.2024.

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7.	In support of the OA, affidavit ofMr. Kabir Chopra,Authorised
Repr	esentative, HDFC Bank Ltd.,has been filed.
8.	Heard ex-parte arguments and perused record.
9.	It was argued by learned proxy counsel that in view of the
docu	mentary evidence brought on record which had gone unrebutted,
the	applicant bank had proved its case. From the perusal of all the
Ann	exures A1 to A5to this OA, it is proved that the defendant
appr	oached applicant bank for availing of the credit card facilities
whic	h was granted to him and for that he had executed all the relevant

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documents in favour of the bank. The defendant failed to pay back the amount/dues as per terms and conditions of the agreement between the parties. Subsequently, accounts of credit cards of the defendant were classified as NPA. From the documentary evidence brought on record, it is proved that applicant bank is entitled to recover a sum of Rs.25,69,527.31p (Rupees Twenty Five Lacs Sixty Nine Thousand Five Hundred Twenty Seven and Thirty One Paise only) along with interest from the defendant, from the date of filing of the present Original Application till realization of the dues.

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In so far as pendent elite and future rate of interest is concerned, the applicant bank in relief clause has claimed interest @1.50%p.m. along with penal interest @2%p.a. from 11.01.2023 till the realization.

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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 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.

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In the result, the application is allowed declaring that the defendant is liable to pay to the applicant a total sum of Rs.25,69,527.31p (Rupees Twenty Five Lacs Sixty Nine Thousand Five Hundred Twenty Seven and Thirty One Paise only), with costs, current and future simple interest @8.00%p.a.(@0.67%p.m.) in the credit cards from the date of filing of OA till the date of realization of the amount. Accordingly, the applicant bank shall be entitled to recover aforesaid amount from the sale of personal assets of the defendant.

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The applicant is at liberty to enforce the claim through due process of law.

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Any other application pending stands disposed of. 13. Issue Recovery Certificate accordingly.

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Parties to appear before Learned Recovery Officer of this Tribunal on 10.06.2024.

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Copy of this order be given dasti to the applicant bank and be sent to defendant through registered/speed post and this order be also uploaded on the official website of this Tribunal and record be consigned.

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Pronounced by me in the open Tribunal.

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Dated: 22.05.2024

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(MRIDULESH KUMAR SINGH) Presiding Officer, DRT-III, Chandigarh

Hdfc Bank Limited v. Sh. Aman Deep

Case brief

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Hdfc Bank Limited v. Sh. Aman Deep

Case brief

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