Allowed

Hdfc Bank Limited v. Sh. Surinder Singh and Others

DRT22 Oct 2025OA/1158/2025

Case brief

AI extract

What is this about?

Dr. Debts Recovery Tribunal allowed an original application filed by HDFC Bank for a recovery of Rs. 41.71 lakhs from three defendants after an ex parte hearing. The court declared the defendants liable to pay the principal amount plus a uniform simple interest of 8% p.a. from the filing date.

What did the court decide?

Declaration of liability to pay Rs. 41,71,433.92 with 8% p.a. simple interest and issuance of Recovery Certificate.

Hdfc Bank Limited versus Sh. Surinder Singh and Others — Company and Corporate | DRT (2025)

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DEBTS RECOVERY TRIBUNAL-III, CHANDIGARH

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ORIGINAL APPLICATION NO.1158/2025

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PRESIDED OVER BY MRIDULESH KUMAR SINGH

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DATE OF INSTITUTION: 20.08.2025

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DATE OF DECISION: 22.10.2025

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HDFC Bank Limited, having Its Registered Office at: Senapati Baраt Marg, Lower Parel - (West), Mumbai -400013

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Also at: - HDFC Bank House Plot No. I-15, Sector 101 Alpha, It City, Mohali

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Also at: - HDFC Bank Branch, Malout - DCM Complex - G.T. Road, Muktsar, Punjab Through its Authorized Representative, Sh. Sandeep Garg.

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……..Applicant

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Versus

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Sh. Surinder Singh S/O Sh. Gurdev Singh H No. 125, Village Ghuriana, Dhippanwali, Fazilka, Punjab -152124

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Sh. Khushdeep Singh S/O Sh. Surinder Singh H No. 125, Village Ghuriana, Dhippanwali, Fazilka, Punjab -152124

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Sh. Mohinder Singh S/O Sh. Inder Singh, St No 8, W No 6,

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Malout, Muktsar, Punjab - 152107

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….……Defendants

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Advocates:

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Argued by Sh. Chirag Bhagat, Advocate proxy for Sh. Rajesh Jangra, Advocate for applicant

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Defendants already ex parte

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FINAL ORDER

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Present Original Application was instituted by the applicant under Section 19 of the Recovery of Debts & Bankruptcy Act, 1993, against the defendants for recovery of Rs.41,71,433.92p (Rupees Forty One Lacs Seventy One Thousand Four Hundred Thirty Three & Ninety Two Paise Only). The Original Application has been filed through Sh. Sandeep Garg, Authorized Representative, of the applicant, who is competent to institute the Original Application vide Power of Attorney dated 17.01.2024, which is Annexure A1 to this OA.

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OA NO.1158/2025 HDFC BANK LTD. VS SH. SURINDER SINGH AND OTHERS

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The brief facts of the OA are that the defendant nos. 1 and 2 had approached the applicant for the grant of Agri. CC Limit of Rs.30.17 Lacs and Agri. Overdraft Limit of Rs.9.25 Lacs & Agri. Term loan of Rs.4.00 Lacs vide Loan applications dated 17.05.2019, which is Annexure A2 to this OA. Defendant no.3 stood as guarantor. 3. The applicant sanctioned the Agri. CC Limit of Rs.27.85 Lacs and Agri. Overdraft Limit of Rs.8.25 Lacs & Agri. Term loan of Rs.3.90 Lacs vide Sanction letters dated 07.06.2019, which is Annexure A3 (Colly) to this OA. 4. Defendant no.1 & 2 had mortgage their immovable properties i.e. land measuring 160K-00M (156K-09M in the name of defendant no. 1 and 03K-11M in the name of defendant no. 2) situated at Village Ghuriana, Hadbast No.177, Tehsil Fazilka, Punjab vide Declaration u/s 4(1) dated 21.06.2019, which is Annexure A5 to this OA. Documents executed: - Loan agreements for CC, Overdraft & Term loan dated 12.06.2019, along with KYC Documents which is Annexure A4 (Colly) to this OA; Loan recall notice dated 16.01.2025 along with postal receipts, which is Annexure A6 (Colly) to this OA and Statement of account duly certified, which is Annexure A7 (Colly) to this OA. 5. The loan accounts became irregular and were classified as NPA and after adjusting debit and credit entries in all the loan accounts there was a debit of Rs.41,71,433.92p, which is recoverable and the defendants were served recall notices but they did not repay the outstanding amount, therefore, the applicant requested to accept the application and to issue Recovery Certificate accordingly. 6. The defendants were served notices to appear before this Tribunal but no one appeared on behalf of defendants and they were proceeded ex parte 08.10.2025. 7. In support of the OA, affidavit of Sh. Sandeep Garg, Authorized Representativ e, HDFC Bank Ltd., has been filed. 8. Heard ex-parte arguments and perused record.

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OA NO.1158/2025 HDFC BANK LTD. VS SH. SURINDER SINGH AND OTHERS

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It was argued by learned proxy counsel that in view of the documentary evidence brought on record which had gone unrebutted, the applicant bank had proved its case. From the perusal of all the Annexures A1 to A7 to this OA, it is proved that the defendants approached applicant bank for availing of the loan facilities which were granted to them and for that they had executed all the relevant documents in favour of the bank. The defendants failed to pay back the loan as per terms and conditions of the agreement between the parties. Subsequently, accounts of the defendants were classified as NPA. From the documentary evidence brought on record, it is proved that applicant bank is entitled to recover a sum of Rs.41,71,433.92p (Rupees Forty One Lacs Seventy One Thousand Four Hundred Thirty Three & Ninety Two Paise Only) along with interest from the defendants, jointly and severally, from the date of filing of the present Original Application till realization of the accounts.

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In so far as pendente lite and future rate of interest is concerned, the applicant in relief clause has claimed interest @13%p.a. with 16% penal interest in Agri. CC Limit, interest @16%p.a. with 16% penal interest in OD Limit, interest @16%p.a. with 24% penal interest in Term Loan, with half yearly rests in all the accounts from 16.01.2025 till the realization.

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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/hypothecated assets, undertaking of the defendants, 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. in all the loan accounts 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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OA NO.1158/2025 HDFC BANK LTD. VS SH. SURINDER SINGH AND OTHERS

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In the result, the application is allowed declaring that the defendants are liable to pay to the applicant a total sum of Rs.41,71,433.92p (Rupees Forty One Lacs Seventy One Thousand Four Hundred Thirty Three & Ninety Two Paise Only) jointly and severally, with costs, current and future simple interest @8.00%p.a. in all the loan accounts from the date of filing of OA till the date of realization of the amount. Accordingly, the applicant shall be entitled to recover aforesaid amount from the sale of hypothecated vehicles of defendants in execution proceedings if not sold earlier under the provisions of the SARFAESI Act, 2002. If the dues of the applicant still remain unsatisfied, it shall be entitled to recover the same by attachment and sale of personal assets of the defendants. The applicant is at liberty to enforce the claim through due process of law.

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12. Any other application pending stands disposed of .

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Issue Recovery Certificate accordingly.

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Parties to appear before Learned Recovery Officer of this Tribunal on 01.11.2025.

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Copy of this order be given dasti to the applicant and be sent to defendants through registered/speed post and this order be also uploaded on the official website of this Tribunal and record be consigned. Pronounced by me in the open Tribunal . Dated: 22.10.2025

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(MRIDULESH KUMAR SINGH) Presiding Officer, DRT-III, Chandigarh

Hdfc Bank Limited v. Sh. Surinder Singh and Others

Case brief

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Hdfc Bank Limited v. Sh. Surinder Singh and Others

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