Allowed

Hdfc Bank v. Saraj Singh

DRT21 Jan 2025OA/1473/2022

Case brief

AI extract

What is this about?

In this OA under RDB Act, the Presiding Officer allowed the bank's application for recovery of Rs. 51,95,116/- with interest amidst ex parte proceedings where defendants failed to appear. The court directed issuance of a Recovery Certificate and mandated the Recovery Officer to distribute proceeds from mortgaged property.

What did the court decide?

Recovery of Rs. 51,95,116/- with interest; issuance of Recovery Certificate; mandate for sale of mortgaged property and distribution of proceeds.

Hdfc Bank versus Saraj Singh — Banking and Recovery | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH

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BEFORE: A S NARANG, PRESIDING OFFICER

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OA No: 1473 of 2022

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Date of Institution: 12.07.2022 Date of Decision: 21.01.2025

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HDFC Bank, Ltd. having branches all over India having a branch at Ferozepur Branch, District Ferozepur, Punjab.

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……..Applicant

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Vs.

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Saraj Singh s/o Sh. Chanan Singh r/o H.no. 41, Village Tali Saidu Sahu, Tehsil & District Ferozepur, Punjab.

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Chanan Singh s/o Sh. Karnail Singh since deceased through his legal heirs as under:

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a. Balvir Kaur w/o Sh. Chanan Singh, r/o H.no. 41, Village Tali Saidu Sahu, Tehsil & District Ferozepur, Punjab.

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b. Saraj Singh s/o Sh. Chanan Singh, r/o H.no. 41, Village Tali Saidu Sahu, Tehsil & District Ferozepur, Punjab.

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c. Anmol Singh Virk s/o Sh. Chanan Singh, r/o H.no. 41, Village Tali Saidu Sahu, Tehsil & District Ferozepur, Punjab.

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Mehar Singh s/o Sh. Malook Singh r/o Village Tali Saidu Sahu, Tehsil & District Ferozepur, Punjab.

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……….Defendants

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Advocates

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Sh.Anup Prajapati proxy for Sh. Saurabh Bhardwaj, Counsel for the applicant bank.

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Defendants – ex parte

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OA for the Recovery of Rs. 51,95,116/- with interest @ 11% per annum with half yearly rests from 12.07.2022.

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ORDER

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HDFC Bank Ltd. (Bank) has filed this application under Section

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19 of the Recovery of Debts and Bankruptcy Act, 1993 (RDB Act) for

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the recovery of Rs. 51,95,116/- with interest against Sh. Saraj Singh and others (Defendants).

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Bank’s case is that on 12.06.2015, it had granted a loan of Rs. 30.00 Lacs in the form of CC Limit and a loan of Rs. 5.00 Lacs in the form of Term Loan Facility to the Defendant no. 1 and 2. To secure the loan, Defendant no. 1 and 2 had mortgaged their property (fully detailed in para No.3-A of the application). Defendant no. 3 stood as the guarantor. The loan was chargeable to interest @11% per annum with half yearly rests. On 18.01.2022, a sum of Rs. 51,95,116/- was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.

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On 08.09.2022, summonses were sent to the defendants by registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 16.03.2023, they were proceeded ex parte .

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In order to prove its case, the Bank has placed on record the affidavit of Mr. Harminder Pal Singh, Manager along with the loan and security documents and marked them as Exhibit A-1 to A-12. 5. I have perused the evidence on the record. I am of the considered view that the Bank has proved its case that it had advanced the loan of Rs. 35.00 Lacs and on 18.01.2022, a sum of Rs. 51,95,116/- was due. 6. Accordingly, the application of the bank for the recovery of Rs. 51,95,116/- (Rupees Fifty One Lacs Ninety Five Thousand One Hundred Sixteen Only) with interest @ 11% per annum with half yearly rests from 12.07.2022, till the date of payment is hereby allowed with costs against defendant No.1 and 3. The liability of defendants No.1 and 3 would be joint and several. Bank can recover its dues by the sale of

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mortgaged property fully detailed in para No. 3-A of the application as well as from the personal movable and immovable property(ies) of the defendants No.1 and 3. The LRs of defendant No.2 would be liable to the extent of property inherited by them from Shri Chanan Singh deceased). 7. Pending IAs, if any, stand disposed of. 8. Recovery Certificate be issued accordingly. 9. Parties are directed to appear before Recovery Officer on 24.02.2025, who is directed to distribute the sale proceeds of the mortgage property as per the provisions of Section 19(20-AB) of the Act . 10. A Copy of this order along with Recovery Certificate be sent to the Recovery Officer as well as the parties. Pronounced in the open court. (A S Narang) Dated: 21.01.2025 Presiding Officer DRT-1, Chandigarh

Hdfc Bank v. Saraj Singh

Case brief

What is this about?

What did the court decide?

Hdfc Bank v. Saraj Singh

Case brief

What is this about?

What did the court decide?

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