The tribunal allowed the bank's application for recovery of outstanding dues of Rs.39,26,052.59 with interest. The court found the bank proved its case and permitted recovery from mortgaged and hypothecated properties.
Recovery of Rs.39,26,052.59 with interest; issuance of Recovery Certificate; sale of mortgaged and hypothecated properties.
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IN THE DEBTS RECOVERY TRIBUNAL-II, CHANDIGARH
BEFORE: A S NARANG, PRESIDING OFFICER
OA No: 1560/2023 Date of Institution: 01.11.2023 Date of Decision: 19.04.2025
HDFC Bank at No. 2186, Ground Floor, Pehwa Chowk, Jind Road, Fatehpur, Pundri-136026
……..Applicant
Vs.
…….Defendants
Advocates
Sh. K.D. Sharma proxy counsel for Sh. K.P.S.Dhillon, Counsel for the applicant bank Defendants- ex parte
OA for the Recovery of Rs.39,26,052.59p with interest @13% per annum with half-yearly rests from 01.11.2023.
ORDER
application). The loan was chargeable to interest @13% per annum with half-yearly rests in Cash Credit-I Facility, @16% per annum with halfyearly rests in Cash Credit Facility-II and and @9.50% per annum with half-yearly rests in Cash Credit Facility-III. On 29.07.2023, a sum of Rs.39,26,052.59p was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.
2 issues framed by the court
Whether the applicant bank proved its case for the recovery of loan amount and interest.
Whether the application for recovery of debt is maintainable and permissible.
2 provisions across 1 enactments
HDFC Bank
Sh. Abhishek Gulab Singh
Sh. Gulab Singh
Sh. Rammehar Ganga Bishan
A S Narang
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
