Debts Recovery Tribunal allowed an application filed by HDFC Bank Limited against Amit Kumar for recovery of an outstanding business term loan. The Tribunal noted the defendant was absent and proceeded ex parte. A Recovery Certificate was issued.
Recovery Certificate issued for Rs.20,06,482.54p with simple interest at 8% p.a. from date of filing till realization.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
DEBTS RECOVERY TRIBUNAL-III, CHANDIGARH
ORIGINAL APPLICATION NO.1010/2024 PRESIDED OVER BYMRIDULESH KUMAR SINGH
DATE OF INSTITUTION: 13.08.2024
DATE OF DECISION: 26.03.2025
HDFC Bank Limited, having its Registered Office at Senapati Bapat Marg, Lower Parel–(West) Mumbai-400013, having its Branch Office at Ludhiana, Punjab, Also at: Plot No. I-15, Sector-101, Alpha It City, Mohali Through its Authorized Representative Sh. Rajender Prasad. ……..Applicant Versus Sh. Amit Kumar S/o Sh. Amrit Pal R/o House No.58, street no.2, Dev Nagar, Ludhiana Punjab-141001
2nd Address: R.S Fashions, through its proprietor Sh. Amit Kumar Situated at: 58, street no.2, Kapil Park, Chotti Haibowal, Ludhiana Punjab-141001
…Defendant
Advocates:
Argued by Sh. Pahal Singh, Advocate proxy for Sh. Amit Rishi, Advocate for Applicant Defendant is ex parte
FINAL ORDER
2 OA/1010/2024 HDFC BANK LIMITED VS AMIT KUMAR
3 OA/1010/2024 HDFC BANK LIMITED VS AMIT KUMAR
for that he had executed all the relevant documents in favour of the bank. The defendant failed to pay back the loan as per terms and conditions of the agreement between the parties. Subsequently, account of the defendant was classified as NPA. From the documentary evidence brought on record, it is proved that applicant is entitled to recover a sum of Rs.20,06,482.54p (Rupees Twenty Lacs Six Thousand Four Hundred Eighty Two and Fifty Four Paisa Only) along with interest from the defendant, from the date of filing of the present Original Application till realization of the account.
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 nature of the mortgaged property, undertaking of the defendant, 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 @08.00%p.a. in the loan account 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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assets of the defendant. The applicant is at liberty to enforce the claim through due process of law.
(MRIDULESH KUMAR SINGH) Presiding Officer, DRT-III, Chandigarh
1 issue framed by the court
Whether the applicant bank is entitled to recover the outstanding loan amount of Rs.20,06,482.54p along with interest from the defaulting borrower.
1 provisions across 1 enactments
HDFC Bank Limited
Amit Kumar
MRIDULESH KUMAR SINGH
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
