Hdfc Bank v. Ram Lubhaya
Case brief
What is this about?
The Tribunal allowed the applicant bank's application for recovery of Rs.33,49,293.98p with interest from two defendants who were defaulting on vehicle loans. Liability was declared joint and several, and a recovery certificate was directed.
What did the court decide?
Application allowed; Recovery Certificate issued; Recovery Officer directed to distribute sale proceeds of hypothecated vehicle.
What the court decided
IN THE DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH
BEFORE: A S NARANG, PRESIDING OFFICER
OA No: 1309/2022 Date of Institution: 28.06.2022 Date of Decision: 29.09.2025
HDFC Bank Limited having its branches all over India and a branch at HDFC Bank House, Industrial Area, Phase-I, Chandigarh.
……..Applicant
Vs.
- Ram Lubhaya s/o Sh. Pritam Dass, VPO Udhowal, Distt. Jalandhar, Punjab.
- Prem Kumar s/o Sh. Pritam Dass, VPO Udhowal, Distt. Jalandhar, Punjab.
……….Defendants
Advocates Ms. Pinky proxy counsel for Ms. Dipti Toni, Counsel for the applicant bank. Defendants - ex parte vide order dated 28.03.2023 .
OA for the Recovery of Rs.33,49,293.98p with interest @8.25% per annum with monthly rests from 28.06.2022.
Issues for consideration
2 issues framed by the court
Whether the bank is entitled to recover outstanding dues of Rs.33,49,293.98p with interest from the borrowers and guarantor under Section 19 of the RDB Act.
Whether the Recovery Officer should be directed to distribute sale proceeds of the hypothecated vehicle as per the Act.
Parties & counsel
- applicant
HDFC Bank Limited
- respondent
Ram Lubhaya
- respondent
Prem Kumar
Coram
Case details
As recorded by the court registry
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