The Debts Recovery Tribunal allowed the applicant bank's original application for recovery of dues. After proceeding ex-parte against absent defendants, the Tribunal directed payment of principal along with modified interest rates and costs.
Direction to defendants to pay Rs. 23,99,934.97 with 12% interest and costs within 30 days.
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T.A. No.2882 of 2022
Debts Recovery Tribunal-I, Delhi 4th floor, Jeevan Tara Building, Parliament Street, New Delhi
Presiding Officer: Shri Govind Ballabh Sharma
T.A. No. 2882 of 2022
HDFC Bank Ltd. Department for Special Operations 2nd Floor, Indian Express Building Bahadurshah Zafar Marg New Delhi-110002 Applicant
Versus
Also at:
116, Sharda Niketan, Pitampura, Delhi-110034
Defendants
Present: Shri Dharam Dev, Counsel for the applicant bank
Date of Institution: 24.12.2020 Date of Pronouncement: 27.06.2024
FINAL ORDER
This original application has been filed by the applicant bank on 24.12.2020 through Shri Neeraj Mahajan, authorized representative of the applicant bank, under section 19 of
T.A. No.2882 of 2022
Recovery of Debts and Bankruptcy Act, 1993 against the defendants for recovery of a sum of Rs.23,99,934.97 (Rupees Twenty Three Lacs Ninety Nine Thousand Nine Hundred Thirty Four and paisa Ninety Seven only) as on 31.10.2020 along with pendentelite and future interest ©18.00% per annum with monthly rest from 01.11.2020 till realization of dues and costs.
T.A. No.2882 of 2022
entire outstanding dues but the defendants did not clear the dues. The account was declared NPA on 04.12.2019 by the applicant bank and loan recall notice was issued on 13.10.2020 and hence the applicant bank has approached this Tribunal for recovery of their dues.
T.A. No.2882 of 2022
of the applicant bank is based on the documents and the same have been duly approved.
ORDER
(I) I, allow this OA and direct the defendants, jointly or severally, to pay to the applicant bank within a period of 30 days, a sum of Rs.23,99,934.97 (Rupees Twenty Three Lacs Ninety Nine Thousand Nine Hundred Thirty Four and paisa Ninety Seven only) as on 31.10.2020 along with pendentelite and future interest @12% per annum with monthly rest from sd
T.A. No.2882 of 2022
01.11.2020 and costs till the date of realization, failing which the aforesaid amount shall be recovered from the hypothecated credit card receivables with applicant bank. In case of default, the same shall be recovered from sale of the moveable and immovable properties of defendants.
(II) The recovery certificate be issued forthwith and be sent to the Recovery Officer, Debt Recovery Tribunal-I, Delhi.
(III) Parties are directed to appear before the Recovery Officer, DRT I, Delhi on 26.08.2024.
(IV) Copies of final order as well as Recovery Certificate be sent to all concerned free of cost.
--1-`1
(GOVIND BALLABH SHARMA) PRESIDING OFFICER DRT-I, DELHI
(Dictated and pronounced in open court) Dated: 27.06.2024
2 issues framed by the court
Whether the original application for recovery of dues under Section 19 of RDB Act deserves to be allowed in the absence of the defendants.
Whether appropriate reliefs including interest rate modification should be awarded to the applicants.
Colour shows how this judgement treated each authority
Central Bank of India Vs. Ravindra & OthersReferred¶29
Central Bank of India Vs. Ravindra & Others
1 provisions across 1 enactments
HDFC Bank Ltd. Department for Special Operations
Govind Ballabh Sharma
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
