The Debts Recovery Tribunal allowed the bank's application for recovery of outstanding loan dues of Rs. 24,01,920.44 with interest and costs against absent borrowers, directing recovery from hypothecated vehicle and other assets if insufficient.
Direct recovery of Rs. 24,01,920.44 plus interest and costs; sale of hypothecated vehicle if not paid within 30 days.
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T.A. No.574 of 2023
Debts Recovery Tribunal-I, Delhi 4th floor, Jeevan Tara Building, Parliament Street, New Delhi
Presiding Officer: Shri Govind Ballabh Sharma
T.A. No.574 of 2023
HDFC Bank Limited Plot No.31, Najafgarh Industrial Area Tower-A, First Flopr, Shivaji Marg, Moti Nagar, New Delhi-110015
Applicant
Versus
R/o 243, Gali No.5, A Block Sonia Vihar, Zero Pusta Delhi-110094 Defendants
Present: Shri Naveen Sharma, Counsel for the applicant bank
Date of Institution: 05.11.2018
Date of Pronouncement: 15.05.2024
FINAL ORDER
This original application has been filed by the applicant bank before DRT III, Delhi and then transferred to DRT-I, Delhi on 05.11.2018 through Ms Sampurna Gupta, Authorized representative of the applicant bank under Section 19 of Recovery of Debts Due to Banks and Financial Institutions
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T.A. No.574 of 2023
Act, 1993 against the defendants for recovery of a sum of Rs.24,01,920.44 (Rupees Twenty Four lacs One Thousand Nine Hundred Twenty and paisa Forty Four only) as on 24.10.2018 along with pendentelite and future interest ©10.01% per annum with monthly rest from 25.10.2018 till the date of realization and costs.
SL.
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T.A. No.574 of 2023
outstanding amount along with interest but defendants have failed to comply with the notice. Hence, the applicant bank has approached this Tribunal for recovery of their dues.
T.A. No.574 of 2023
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.24,01,920.44 (Rupees Twenty Four lacs One Thousand Nine Hundred Twenty and paisa Forty Four only) as on 24.10.2018 along with pendentelite and future interest @10.01% per annum with monthly rests from 25.10.2018 and costs, failing which the aforesaid amount shall be recovered from sale of hypothecated commercial vehicle namely Bharat Benz 3723R having Registration No. HR-55AB-1197, Engine No. 400852D0042082 Chasis No. MEC2976CEHP042150. In case of shortfall the same shall be recovered from the sale of movable and immovable assets of the defendants.
(II) The recovery certificate be issued forthwith and be sent the Recovery Officer, Debt Recovery Tribunal-I Delhi.
(III) Parties are directed to appear before the Recovery Officer, DRT I, Delhi on 15.07.2024.
(IV) Copies of final order as well as Recovery Certificate be sent to all concerned free of cost.
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(GOVIND BALLABH SHARMA) PRESIDING OFFICER DRT-I, DELHI
(Dictated and pronounced in open court) Dated: 15.05.2024
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1 issue framed by the court
Whether the applicant bank is entitled to recover the outstanding dues as per the loan agreement.
1 provisions across 1 enactments
HDFC Bank Limited
Anil Kumar
Sarita
Govind Ballabh Sharma
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
