The Debt Recovery Tribunal allowed the bank's application for recovery of loan dues of approximately Rs. 9.88 crores against several respondents, finding the debt proven and ordering the issuance of a recovery certificate.
Recovery of Rs. 9,88,45,080.09 with interest at 18% per annum; issuance of recovery certificate; sale of mortgaged properties.
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.
IN THE DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH
BEFORE: A S NARANG, PRESIDING OFFICER
OA No: 1175 of 2024
Date of Institution: 12.08.2024
Date of Decision: 28.08.2025
HDFC Bank Ltd. having its branches all over India and a branch at Ground Floor, Circular Road, Faridkot, Punjab.
……..Applicant
Vs.
……….Defendants
Advocates
Sh. CS Pasricha, Counsel for the applicant bank.
Sh. S.S. Chaudhary, Counsel for Defendant nos. 1 & 3 – (though ex parte vide order dated 28.01.2025 ) .
Defendant nos. 2, 4 & 5 - ex parte
OA for the Recovery of Rs.9,88,45,080.09p with interest @18% per annum with monthly rests from 12.08.2024. ORDER
of the Recovery of Debts and Bankruptcy Act, 1993 (RDB Act) for the
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recovery of Rs. 9,88,45,080.09p with interest against M/s JK Enterprises and others (defendants).
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3 issues framed by the court
Whether the bank has proved its case for the recovery of the outstanding loan amount with interest against the defendants.
How the recovery of dues can be effected through the sale of mortgaged property.
Whether the liability of all defendants is joint and several.
2 provisions across 1 enactments
HDFC Bank Ltd.
M/s JK Enterprises
Sh. Rajesh Monga
Sh. Raj Pal
M/s Raj Pal & Company
M/s Sunrise Overseas
A S Narang
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
