Allowed

Hdfc Bank v. Abdul Ahad Wani

DRT24 Jan 2025OA/1481/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal, Chandigarh allowed an application by HDFC Bank Ltd. for recovery of an outstanding principal sum of Rs. 23,79,645/- and interest against two respondents who failed to repay a secured agricultural loan. The court issued a recovery certificate authorizing distraint or sale of mortgaged property.

What did the court decide?

Recovery of Rs. 23,79,645/- and interest @12% per annum; issuance of recovery certificate; recovery by sale of mortgaged property and personal assets.

Hdfc Bank versus Abdul Ahad Wani — 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: 1481 of 2022 Date of Institution: 25.07.2022 Date of Decision: 24.01.2025

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HDFC Bank Ltd. having branches all over India having a branch at Handwara, Jammu & Kashmir

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……..Applicant

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Vs.

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Abdul Ahad Wani s/o Ghulam Rasool Wani r/o 192, Behnipora, Retinpora, PO Handwara, District Kupwara

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Gulam Rasool Wani w/o Gulam Mohd. Wani r/o 192, Behnipora, Retinpora, PO Handwara, District Kupwara

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……….Defendants

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Advocates

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Sh. JS Sehgal, Counsel for the applicant bank. Defendants – ex parte

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OA for the Recovery of Rs.23,79,645/- with interest @12% per annum with half-yearly rests from 25.07.2022.

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ORDER

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HDFC Bank Ltd. (Bank) has filed this application under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993 (RDB Act) for the recovery of Rs.23,79,645/- with interest against Sh. Abdul Ahad Wani and another (Defendants).

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Bank’s case is that on 05.06.2015, it had granted a loan of Rs.11.00 Lacs to Defendants in the form of CC Limit for agricultural purposes. To secure the loan, Defendant no. 1 had mortgaged his property (fully detailed in para No.3A of the application). The loan was chargeable to interest @12% per annum with half-yearly rests. On 01.10.2021, a sum of Rs. 23,79,645/- was due from the defendants.

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Despite repeated requests, defendants did not make the repayment. Hence, this application.

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On 10.08.2022, summonses were sent to the defendants by registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 10.04.2023, they were proceeded ex parte . 4. In order to prove its case, the Bank has placed on record the affidavit of Mr. Jatinder Mishra , Assistant 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 11.00 Lacs and on 01.10.2021, a sum of Rs.23,79,645/- was due. 6. Accordingly, the application of the bank for the recovery of Rs.23,79,645/- (Rupees Twenty Three Lacs Seventy Nine Thousand Six Hundred Forty Five Only) with interest @12% per annum with halfyearly rests from 25.07.2022, till the date of payment is hereby allowed with costs. The liability of all the defendants would be joint and several. Bank can recover its dues by the sale of mortgaged property fully detailed in para No.3A of the application as well as from the personal movable and immovable property(ies) of the defendants. 7. Pending IAs, if any, stand disposed of. 8. Recovery Certificate be issued accordingly. 9. Parties are directed to appear before Recovery Officer on 25.02.2025, who is directed to distribute the sale proceeds of the mortgaged property as per the provisions of Section 19(20-AB) of the Act .

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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: 24.01.2025 Presiding Officer DRT-1, Chandigarh

Hdfc Bank v. Abdul Ahad Wani

Case brief

What is this about?

What did the court decide?

Hdfc Bank v. Abdul Ahad Wani

Case brief

What is this about?

What did the court decide?

What the court decided

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