Allowed

Hdfc Bank v. M/S Kulwant Singh and Company

DRT23 Dec 2025OA/1499/2023

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal adjudicated an application under Section 19 of the RDB Act filed by HDFC Bank Limited for recovery of a loan of Rs. 20.00 Lacs defaulted by the proprietorship firm. The court allowed the application, granted recovery of dues, and directed the issuance of a Recovery Certificate.

What did the court decide?

Recovery of Rs. 22,90,194.65 with interest at 9.80% p.a., costs, and issuance of Recovery Certificate under Section 19.

Hdfc Bank versus M/S Kulwant Singh and Company — Contract and Commercial Disputes | 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: 1499/2023 Date of Institution: 11.08.2023 Date of Decision: 23.12.2025

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HDFC Bank Limited having its branches all over India and a branch at Plot No. I-15, 3^rd Floor, Alpha IT City, Sector 101, Mohali, Punjab.

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……..Applicant

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Vs.

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M/s Kulwant Singh & Company, a Proprietorship firm through its then Proprietor Late Sh. Ajinder Singh Presently being represented through his Legal Heirs Mr. Arshdeep Singh, having its Place of Business situated at Mandi Mattewal Amritsar, Punjab.

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Late Mr. Ajinder Singh S/o Mr. Kulwant Singh Residence of H.No.6, Garden Avenue, Majitha Road, Amritsar, Punjab, now being represented through his legal heirs

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i) Mr. Arshdeep Singh son of Late Sh. Ajinder Singh R/o VPO Mattewal, Tehsil-Baba Bakala, Amritsar, Punjab.

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ii) Mr. Dilpreet Singh Son of Late Sh. Ajinder Singh R/o H.No.6, Garden Avenue, Majitha Road, Amritsar, Punjab.

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iii) Mrs. Gurdip Kaur Widow of Late Sh. Ajinder Singh r/o VPO Mattewal, Tehsil-Baba Bakala, Amritsar, Punjab.

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Mr. Dilpreet Singh son of Late Mr. Ajinder Singh R/o H.No.6, Garden Avenue, Majitha Road, Amritsar, Punjab.

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……….Defendants

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Advocates

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Sh. Harinder Kumar, Counsel for the applicant bank. Defendants - ex parte vide order dated 08.11.2024 .

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OA for the Recovery of Rs.22,90,194.65p with interest @9.80% per annum with monthly rests from 11.08.2023.

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ORDER

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HDFC Bank Limited has filed this application under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993 (RDB Act) for the recovery of Rs.22,90,194.65p with interest against M/s Kulwant Singh & Company and others (defendants).

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Bank’s case is that on 25.09.2013, it had granted a loan of Rs.20.00 Lacs to defendant No.1 through its proprietor i.e. defendant No.2 (since deceased now represented through his legal heirs) in the form of O.D.A.P. Limit for Business purpose. The limit was renewed from time to time and lastly on 24.12.2019 for Rs.20.00 Lacs. To secure the loan, Defendant No.2 had mortgaged his property (fully detailed in para No.3A of the application). Defendant no.3 stood as the guarantor. Defendant No.2 is deceased and hence represented through his legal heirs. The loan was chargeable to interest @9.80% per annum with monthly rests. On 11.06.2023, a sum of Rs.22,90,194.65p was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.

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On 18.09.2023, summonses were sent to the defendants by registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 08.11.2024, they were proceeded ex parte .

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In order to prove its case, the Bank has placed on record the affidavit of Sh. Sunil Kalra, Branch Manager along with the loan and security documents and marked them as Exhibit A-1 to A-23. 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.20.00 Lacs and on 11.06.2023, a sum of Rs.22,90,194.65p was due. 6. Accordingly, the application of the bank for the recovery of Rs.22,90,194.65p (Rupees Twenty Two Lacs Ninety Thousand One Hundred Ninety Four and Paise Sixty Five Only) with interest @9.80% per annum with monthly rests from 11.08.2023, till the date of payment is hereby allowed with costs. The liability of legal heirs of defendant No.2 would be limited upto the extent of the property inherited by them from Late Mr. Ajinder Singh, whereas the liability of defendant Nos.1 and 3

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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 and from the personal movable and immovable property(ies) of the defendant Nos.1 and 3.

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Pending IAs, if any, stand disposed of. 8. Recovery Certificate be issued accordingly. 9. Parties are directed to appear before Recovery Officer on 28.01.2026, who is directed to distribute the sale proceeds of the mortgaged 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.

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Pronounced in the open Court. (A S Narang) Dated: 23.12.2025 Presiding Officer DRT-1, Chandigarh MANOJ KALRA

Hdfc Bank v. M/S Kulwant Singh and Company

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Hdfc Bank v. M/S Kulwant Singh and Company

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