The Debt Recovery Tribunal allowed an ex-parte application by HDFC Bank for recovery of Rs.28.33 lakhs from Sandeep Kumar. The court approved a uniform simple interest rate of 8% per annum.
Recovery of Rs.28,33,661.85 plus simple interest at 8% p.a. from filing date till realization; Recovery Certificate issued.
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DEBTS RECOVERY TRIBUNAL-III, CHANDIGARH
ORIGINAL APPLICATION NO.939/2023
PRESIDED OVER BYMRIDULESH KUMAR SINGH
DATE OF INSTITUTION: 10.06 .2023
DATE OF DECISION: 16.07.2024
HDFC Bank Ltd., having its Registered Office at Senapati Bapat Marg, Lower Parel-(West), Mumbai-400013 and having Regional Office at: Plot No.1-15, Sector 101, Mohali, Punjab through its Authorised Representative Mr. Kabir Chopra
……..Applicant Versus Sh. Sandeep Kumar R/o House No.1783, Phase 3B2, District SAS Nagar, Mohali-160059
….……Defendant
Advocates:
Argued by Sh. Amit Rishi, Advocate for the applicant Defendant is ex-parte
FINAL ORDER
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Rs.28,33,661.85p (Rupees Twenty Eight Lacs Thirty Three Thousand Six Hundred Sixty One and Eighty Five Paise Only) along with interest from the defendant, from the date of filing of the present Original Application till realization of the dues.
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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Pronounced by me in the open Tribunal.
Dated: 16.07.2024
(MRIDULESH KUMAR SINGH) Presiding Officer, DRT-III, Chandigarh
1 issue framed by the court
Whether the creditor is entitled to recover the outstanding debt against a defendant who appeared ex-parte.
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
