Allowed

Hdfc Bank Limited v. M/S Gurdev Filling Station and Others

DRT3 Jul 2025OA/1312/2024

Case brief

AI extract

What is this about?

The Debt Recovery Tribunal allowed HDFC Bank's application to recover ₹53.89 lakhs from a filling station proprietor and others. The court reduced interest to 8%, ordered a recovery certificate, and authorized enforcement via SARFAESI/Auction.

What did the court decide?

Recovery of ₹53,89,366.76 plus simple interest at 8%p.a. from date of OA. Order to issue Recovery Certificate. Permission to sell hypothecated assets under SARFAESI Act.

Hdfc Bank Limited versus M/S Gurdev Filling Station and Others — Company and Corporate | DRT (2025)

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DEBTS RECOVERY TRIBUNAL-III, CHANDIGARH

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ORIGINAL APPLICATION NO.1312/2024

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PRESIDED OVER BYMRIDULESH KUMAR SINGH

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DATE OF INSTITUTION: 06.11.2024

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DATE OF DECISION: 03.07.2025

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HDFC Bank Limited, having its Registered Office at Senapati Bapat Marg, Lower Parel, Mumbai-400013, also at HDFC Bank House, Plot No. 1-15 Sector 101 Alpha, IT City, Mohali-160662, also at HDFC Bank Branch, Samrala Road-Ludhiana, Punjab, through its Authorized Representative Mrs. Pooja Arora.

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.. … …..Applicant Versus

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M/S Gurdev Filling Station, through its Proprietor Mrs. Kushwinder Kaur, Tajpur Road, Village Khassi Kalan, Ludhiana, Punjab-141015

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Mrs. Kushwinder Kaur, W/O Sh. Shailendra Mohan R/o Flat No. 273, Plot No. 1, Bahawalpur Apartment CGHS Ltd., Sector 4, Dwarka Amberhai, Dwarka, Sector 6, South West Delhi-110075.

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Sh. Shailendra Mohan S/o Sh. Parma Nand R/o Flat No. 273, Plot No.1, Bahawalpur Apartment CGHS Ltd., Sector 4, Dwarka Amberhai, Dwarka, Sector 6, South West Delhi-110075

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….……Defendants

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Advocates:

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Argued by Sh. Abhishek Garg, Advocate for Applicant Defendants are 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 Due to Banks and Financial Institutions Act, 1993, against the defendants for recovery of Rs.53,89,366.76p (Rupees Fifty Three Lacs Eighty Nine Thousand Three Hundred Sixty Six and Paise Seventy Six Only). The Original Application has been filed through Mrs. Pooja Arora, Authorized Representative o f

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2 OA NO.1312-2024

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HDFC BANK LIMITED VS GURDEV FILLING STATION AND OTHERS

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the applicant, who is competent to institute the Original Application vide Power of Attorney dated 16.01.2024, which is Annexure A1 to this OA. 2. The brief facts of the OA are that the defendants had approached the applicant for the takeover of CC Limit of Rs.60.00 Lacs and Term Loan–GECL Rs.3.60 Lacs from SBI vide Loan application dated 30.04.2022, which is Annexure A2 to this OA and further for their Renewal vide Renewal Request dated 08.05.2023.

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The applicant sanctioned the takeover of CC Limit of Rs.50.00 Lacs and Term Loan GECL Rs.3.60 Lacs vide Sanction Letter dated 10.05.2022, which is Annexure A3(colly) to this OA and further sanctioned the Renewal vide Renewal Sanction dated 26.06.2023, which is Annexure A5(Colly) to this OA.

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Defendant no.1 had hypothecated its movable properties/assets i.e. Stock in Trade, Book Debts and Receivables vide Hypothecation Deed, dated 10.05.2022, which is Annexure A6 to this OA. Documents executed:- Copy of Loan Agreement for Cash Credit and Term Loan along with KYC Documents, Copy of Letter of Continuing Guarantee and Power of Attorney all dated 10.05.2022, which are Annexures A4(Colly), A7 and A8 to this OA; Demand Notices dated 23.09.2024 and 26.10.2024 with postal receipts, which are Annexures A9(Colly) to this OA; Copy of Statement of Accounts and Certificate under Banker Book of Evidence, which is Annexure A10(Colly) to this OA.

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The loan accounts became irregular and were classified as NPA and after adjusting debit and credit entries in both loan accounts there was a debit of Rs.53,89,366.76p, 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.

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3 OA NO.1312-2024

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HDFC BANK LIMITED VS GURDEV FILLING STATION AND OTHERS

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The defendants were served notices to appear before this Tribunal but no one appeared on behalf of defendants and they were proceeded ex-parte on 02.04.2025. 7. In support of the OA, affidavit of Mrs. Pooja Arora, Authorized Representative, HDFC Bank Limited, has been filed. 8. Heard arguments and perused record. 9. It was argued by learned 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 A10(colly) 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 loans 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.53,89,366.76p (Rupees Fifty Three Lacs Eighty Nine Thousand Three Hundred Sixty Six and Paise Seventy Six 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. 10. In so far as pendent elite and future rate of interest is concerned, the applicant in relief clause has claimed interest in CC Limit @10.00%p.a. along with penal interest @18%p.a. with half yearly rests, from the 09.10.2024 till the realization. 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 defendants, quantum of loan and prevalent market rates of interest which have gone drastically downhill in yester years, while exercising

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4 OA NO.1312-2024

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HDFC BANK LIMITED VS GURDEV FILLING STATION AND OTHERS

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the discretion vested in this Tribunal, this Tribunal deems it just and appropriate to grant uniform simple interest @08.00%p.a. in both 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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In the result, the application is allowed declaring that the defendants are liable to pay to the applicant a total sum of Rs.53,89,366.76p (Rupees Fifty Three Lacs Eighty Nine Thousand Three Hundred Sixty Six and Paise Seventy Six Only) jointly and severally, with costs, current and future simple interest @8.00%p.a. in both 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/mortgaged properties of the 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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Any other application pending stands disposed of. 13. Issue Recovery Certificate accordingly.

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Parties to appear before Learned Recovery Officer of this Tribunal on 25.07.2025.

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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 .

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Dated: 03.07.2025

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(MRIDULESH KUMAR SINGH) Presiding Officer,

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DRT-III, Chandigarh

Hdfc Bank Limited v. M/S Gurdev Filling Station and Others

Case brief

What is this about?

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Hdfc Bank Limited v. M/S Gurdev Filling Station and Others

Case brief

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