Allowed

Hdfc Bank v. M/S Pristine Facility and Management Services Pvt. Lts

DRT24 Dec 2025OA/1001/2022

Case brief

AI extract

What is this about?

The Debt Recovery Tribunal allowed an original application filed by HDFC Bank Limited for recovery of dues from the defendants. The tribunal confirmed the defendants' default, proved the bank's case beyond reasonable doubt, and awarded interest at 12% per annum instead of the claimed rate.

What did the court decide?

Defendants directed to pay Rs.2,41,52,720.43 plus interest at 12% per annum and costs within 30 days, to be recovered from sale of mortgaged properties.

Hdfc Bank versus M/S Pristine Facility and Management Services… — Banking and Recovery | DRT (2025)

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O.A. No. 1001 of 2022

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Debts Recovery Tribunal-I, Delhi 4th floor, Jeevan Tara Building, Parliament Street, New Delhi

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Presiding Officer: Shri Govind Ballabh Sharma

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O.A. No. 1001 of 2022

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HDFC Bank Limited

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Department for Special Operations 5th Floor, Ansal Classique Tower

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Plot no.1, J Block, Community Centre

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Opposite Surya Continental

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Rajouri Garden, New Delhi-110027 Applicant

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Versus

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M/s Pristine Facility & Management Services Pvt. Ltd. C-3/85, New Kondli Delhi-110096

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Also at:

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B-6/7/CSC, Safdarjung Enclave New Delhi-110029

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Also at:

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Plot no.189, UK-II, Ecotech-III Greater Noida, Uttar Pradesh-201306

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Ms. Aradhana Anand

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Director

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M/s Pristine Facility & Management Services Pvt. Ltd. B-6/7/CSC, Safdarjung Enclave New Delhi-110029

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Also at:

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Ms. Aradhana Anand

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Plot no.189, Ecotech-III Greater Noida, Uttar Pradesh-201306

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Also at:

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R-4/109 Ground Floor

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Raj Nagar, Ghaziabad, U.P.-201002

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0.A. No. 1001 of 2022

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Mr. Dheeraj Anand

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Director of M/s Pristine Facility & Management Services Pvt. Ltd. B-6/7/CSC, Safdarjung Enclave New Delhi-110029

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Also at: Plot no.189, Ecotech-III Greater Noida, U.P-201306

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Also at:

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R-4/109, Ground Floor Raj Nagar, Ghaziabad, UP-201002 Defendants

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Present: Ms. Sunanda, Counsel for the applicant bank

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Date of Reserve: 04.12.2025

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Date of Pronouncement: 24.12.2025

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FINAL ORDER

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This original application has been filed by the applicant bank on 05.11.2022 through Sh.Sanjay Sharma, authorized representative of the applicant bank under Section 19 of Recovery of Debts Due to Banks and Financial Institutions Act, 1993 against the defendant for recovery of Rs.2,41,52,720.43 (Rupees Two Crores Forty One Lacs Fifty Two Thousand Seven Hundred Twenty and paisa Forty Three only) as on 16.10.2022 along with pendentelite and future interest @18% per annum plus penal interest @2% per annum from 16.10.2022 till the date of realization along with costs.

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The brief facts of the case are that on the request of the defendant no.1 as private limited company through its directors/guarantors being defendant no.2 and 3 vide its loan application dated 13.11.2020, the applicant bank sanctioned Cash Credit facility for a sum of Rs.225.00 Lacs on 05.12.2020

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O.A. No. 1001 of 2022

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@12.90% interest per annum with monthly rests for working capital requirements against hypothecation of stocks, book debts and receivables etc. and mortgage of property for taking over the account from ICICI Bank Ltd. The defendants also agreed to pay penal interest @2% per annum in case of default or delay in repayment of interest or instalment.

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In order to avail the loan facility, the defendant no.1 submitted loan application dated 13.11.2020 and executed Master Facility Agreement, Deed of Hypothecation, Letter of Continuing Guarantee, Power of Attorney, Deed of Indemnity, Consent Letter and Addendum Agreement along with defendant no.2 and 3 executed Letter of Continuing Guarantee with the applicant bank on 15.12.2020. The defendants submitted Board Resolution dated 06.12.2020 in respect of credit facility.

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That in order to avail the loan facility, the defendant no.1 hypothecated the stocks, book debts and movable assets towards the applicant bank on 15.12.2020.

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That in order to secure the credit facility, the defendants no.2 executed Memorandum Recording Past Transactions of creation of mortgage by delivery of title deeds dated 15.12.2020 of property situated at F-29, First Floor, Sky Plaza, Shri. Radha Sky Garden, Sector-16B, Greater Noida, Uttar Pradesh-201301 in favour of the applicant bank and submitted letter of ICICI Bank with regard to original documents lying with them.

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It has been submitted by the applicant bank that after availing the aforesaid loan facilities, the defendants failed to comply with the terms and conditions of sanction and

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O.A. No. 1001 of 2022

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committed default in payment of principal debt and interest with the applicant bank despite various reminders. Ultimately, the applicant bank classified the account as NPA on 31.05.2022 as per RBI guidelines due to non-adherence of financial discipline by the defendants and issued Loan Recall notice dated 21.10.2022 but defendants neglected the same. Hence, the applicant bank approached this tribunal for recovery of their dues.

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Notices of this O.A. were issued to the defendants and despite of proper service despite publication in newspapers, the defendants have chosen to absent from the proceedings. As per order dated 18.07.2025, the defendants have been proceeded ex-parte as they have not appeared before the Tribunal and not filed written statements.

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In order to prove its case, the applicant bank has filed its evidence by way of affidavit of Sh. Sanjay Sharma, authorized representative of the applicant bank who has proved the documents Board Resolution, Loan application, Sanction letter, Master Facility Agreement, Deed of Hypothecation, Letter of Continuing Guarantee, Power of Attorney, Deed of Indemnity, Addendum agreement, Title documents, Consent letter, Undertakings, Letter for making payment directly to ICICI Bank, Request letter, Letter regarding creation of first charge, Disbursement request, Debit authority letter, Undertakings, Title Search Report, Technical Valuation Report, Loan Recall Notice alongwith postal receipts, Statement of Account duly certified under Banker's Books Evidence Act marked as Ex.AW1/1 to Ex.AW-1/30 (Colly).

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O.A. No. 1001 of 2022

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The applicant bank has fully corroborated the averments made in the O.A. Even otherwise the whole case of the applicant bank is based on the documents and the same have been duly approved.

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The case filed by the applicant bank gone unrebutted and there is no question of disbelieving the case of the applicant bank and the applicant bank has proved its case beyond ' reasonable doubts.

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As per the provision of Section 19(20) of the Recovery of Debts Due to Banks and Financial Institution Act, 1993 which is analogous to Section 34 of CPC, on filing of the suit/claim, the contract between the parties comes to an end and the Court/Tribunal has a discretion to award the same depending upon the circumstances of each case. Same principle has been laid down by the Hon'ble Apex Court in the case of Central Bank of India Vs. Ravindra & Others. Taking stock of all the circumstances and keeping in view that there is a drastic fall in rates of interest globally and domestically, I am of the opinion that interest of justice will be served if the interest at the rate of 12% p.a. is awarded.

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In the light of the above discussions, the Original Application deserves to be allowed.

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ORDER

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I, allow this OA and direct the defendants to pay to the applicant bank, jointly or severally, within a period of 30 days, a sum of Rs.2,41,52,720.43 (Rupees Two Crores Forty One Lacs. Fifty Two Thousand Seven Hundred Twenty and paisa

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Sd -

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O.A. No. 1001 of 2022

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Forty Three only) as on 16.10.2022 together with pendentelite and future interest @12% per annum from 17.10.2022 till the date of realization and costs; failing which the aforesaid amount shall be recovered from the sale of hypothecated stocks, book debts and mortgaged property situated at F-29, First Floor, Sky Plaza, Shri Radha Sky Garden, Sector-16B, Greater Noida, Uttar Pradesh-201301. In case of shortfall, the same shall be recovered from the sale of movable and immovable properties of the defendants.

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