Allowed

Hdfc Bank Limited v. by Enterprises

DRT29 Jan 2025OA/168/2024

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed the bank's application for debt recovery. Ruling that the bank had proved the default liability of Rs. 63.19 lakhs through documentary evidence despite the respondents' non-appearance, the Tribunal issued a Recovery Certificate with future interest and costs.

What did the court decide?

Debt determined at Rs. 63,19,980/- along with pendente-lite and future interest at 8.09% p.a.; Recovery Certificate issued; respondents debarred from alienating assets.

Hdfc Bank Limited versus by Enterprises — Banking and Recovery | DRT (2025)

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OA 168of20241JI

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DRT, PATNA

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Debts Recovery Tribunal, Patna Karpuri Thakur Sadan, Aashiana Digha Road Patna-800025

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Presiding Officer : Shri Kaushalendra Yadav

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OA Case No. 168 of 2024

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HDFC Bank Limited, branch office at 2 nd Floor, Rajendra Ram Plaza, Exhibition Road, Patna 800 001

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....... Applicant

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Vs.

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I. BY Enterprises through proprietor Bindeshwar Yadav (Borrower), at Chhopal Tola, P.O.- Lalpur Bhader. P.S.- Kahalgaon, Near Samudayik Bhawan, Bhagalpur- 813203, PAN NO.ABPPY9966P

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Bindeshwar Yadav, Proprietor (Borrower) Sio Rasik Lal Yadav. at Chhopal Tola, P.O.- Lalpur Bhader. P.S.- Kahalgaon, Near Samudayik Bhawan, Bhagalpur- 813203, PAN NO.ABPPY9966P

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Tatri Devi (Co-borrower), At Chhopal Tola, P.O.- Lalpur Bhader. P.S.- Kahalgaon. Near Samudayik Bhawan, Bhagalpur813203. PAN NO.FZBPD7735N

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....... Defendants

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Present:

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For the Applicant Ms. Tanushri, Advocate For the Defendants None

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Dated:29,01.2025

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JUDGMENT

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I. The Applicant bank has made this application uls 19 of the Recovery of Debts and Bankruptcy Act, 1993 (here-in-after referred to as Act) on 20.03.2024 against the defendants to recover its debts from defendants of Rs.63, 19,9801- as on 30.01.2024 along with pendente-lite and future interest at the contractual rate from 31.01.2024 with costs till realization.

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The application has been filed with the contention that the applicant bank, is a body corporate, carries on the business and is competent to tile the suit through various branches including the applicant.

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3, Defendants approached the applicant bank tor availing CEMID Equipments loan facilities vide loan application dated 08.11.2021 and after due consideration, the applicant bank has sanctioned three CEMID equipments loan facilities of Rs.34. 92 Lakh each.

DRT,PATNA

OA 168of20241JI

Defendants again approached the applicant bank on 27.01.2022 with a request to grant another CEMID E~uipment loan facility and after due consideration the applicant bank sanctioned an amount of Rs.24.46 Lakh on 17.02.2022 on various terms and conditions, as stipulated in the sanction letter, which were duly accepted by the defendants. To secure the loan facilities defendants have executed various loan and security documents and also hypothecated the vehicles/movables/CEMID Equipments in favour of the applicant bank, details of which are given in OA.

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After availing the sanctioned credit facilities, the defendants became irregular in repayment of their dues as per agreed terms and failed to adhere to the financial norms of the bank and avoiding the repayment of its dues to the bank, in spite of several assurances given by it to the applicant bank resulting in the account turning as NPA on 13.10.2023.

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Since, the defendants failed and neglected in spite of several reminders to make payment of the dues recoverable to the bank, hence this application has been filed by the bank.

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The total liability in the loan account is Rs.63,19,980/- as on 30.01.2024 with pendente-lite and future interest contractual rate from 31.01.2024 till the realization.

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This Tribunal issued summons/notices copies of application & paper book to the defendants by registered/speed post on 10.04.2023, requiring them to show-cause within 30 days of the service U/s 19(4) of the Act & Rule of the DRT [Procedure] Rules, 1993. But the defendants have not appeared, hence, the Registry of this Tribunal has ordered to publish the notice in newspaper and subsequently, substituted service by publication of notice by way of advertisement In newspaper was also made against the defendants on 09.07.2024 in "Prabhat Khabar' newspaper.

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Despite the registered summons/notices and publication of notice in newspaper, the defendants have not appeared before this Tribunal to contest the case. The sufficient time has been given to the defendants to defend their case,

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DRT, PATNA

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OA 168 of 20241J I

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but they failed to appear and to file WS, hence, the Tribunal has passed an order to proceed ex-parte against the defendants on 29,08.2024.

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To prove its case, the applicant Bank has referred various certified photocopies of documents before this Tribunal. The applicant bank has also given evidence on affidavit by way of affidavit by Shri Swapan Patra, Officer of the applicant bank. The details of documents are as follows:

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• SI.No	Description of Documents Photocopies	Date of Execution	Amount (In Lakh)	Signature of Executants	Ex.! I Ann. No.
1	Power of Attorney	15.04.2023	--	Bank	1 ~~~ -
2	Loan application, Agreement for loan and guarantee,	08.11.2021	Rs.35,94,023 X3	Defendants	2
3	Schedule containing details of loan along with PAN Card copy of defendants				3
4	Loan application and agreement for loan and guarantee	27.01.2022	24.50	Defendants	4
5	Schedule containing details of loan along with PAN Card copy of defendants	17.02.2022	Rs.24,66,570/-	Defendants	5
6	Loan recall notice	31.01.2024	--	Bank --~-	6 - ----- ~-
7	Statement of accounts and foreclosure statements	--	--	Bank	7
8.	Heard arguments and	perused the ca	se record.

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Ld. Counsel of applicant bank submitted that the defendants have taken the loan and utilized the same and also executed the various loan documents to secure the loan. Further, submitted that the claim of the bank has been proved by documentary evidence. All the transactions were entered in the ledger of the loan accounts in the name of the defendant duly maintained by the applicant bank in its usual course of business. The interest Icompound interest has been charged at such rates, and capitalized at such periodical rests as are permitted by and do not run counter to the directives of Reserve Bank of India.

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It is further submitted by Id. Counsel of applicant bank that there is no stay granted by any Higher Court, in respect of the proceedings of the present OA and requested to issue recovery certificate, as claimed for, in OA.

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DRT,PATNA

OA 168 of20241JI

II. It has been established that defendants are living and carrying on their business in the state of Bihar. Cause of action also arose in the State of Bihar. The said claim on the date of filing of application exceeded Rs.20 lacs. The applicant bank is functioning within the jurisdiction of this Tribunal. Therefore. this Tribunal has territorial as well as pecuniary jurisdiction to adjudicate upon the present application.

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On the issue of Limitation, to prove it, the applicant bank has submitted that the applicant bank has declared the account as NPA on 13.10.2023. whereas the present application has been tiled on 20.03.2024. Even, it is counted for the purpose of Limitation, then it is established that the applicant bank has filed the case within the limitation period. As such, it is established that the present application has been tiled well within the period of limitation.

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Shri Swapan Patra, Officer of the applicant bank has tiled the affidavit in support of contents of application and the documents as evidence and proved on oath the pleadings and documents of the applicant bank as stated above.

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Section 19(3) of the Recovery of Debts and Bankruptcy Act. 1993 provides that the application u/s S.19 (1) shall be accompanied with true copies of all the documents relied on in support of the claim.

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The rule 12 (10) of the Debt Recovery Tribunal <Procedure) Rules, 1993, provides that if the defendant denies his liability to pay the claim made by the applicant, the tribunal may act upon the affidavit of the applicant who is acquainted with the facts of the case or who has on verification of the record sworn the affidavit in respect of the contents of the application and the documents as evidence.

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The rule 12 (II) of the aforesaid Rules, provides that the provisions contained in section 4 of the Banker's Books evidence that Act, 1891 (18 of 1891) shall apply to a certified copy of an entry in a Banker's Books furnished along with application filed under sub section I of section 19 by the applicant.

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Section 4 of Banker's Books evidence Act, 1891 runs as under- S.4. Mode of proof of entries in bankers' books.-Subjeci 10 the provisions of this Act. a certified L"Opyof any entry in a hanker's hook shall in all legal proceedings he received asprimafacie evidence ofthe existence of such entry, and shall he admitted as evidence of the matters. transactions and accounts therein recorded ill eret:v case where, and to the same extent as, the original entry itself is now by law admissible, hUI notfurther or otherwise.

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DRT, PATNA

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OA 168 of20241,11

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As such the certified true copies of the documents are admissible in evidence, The statement of account maintained in the ordinary course of business is not only admissible but shall be taken as the correct statement of account, more so since the entries in the statement of account have not been challenged,

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On perusal of the application, documents, affidavit and on consideration of the arguments, it is proved that the defendants have applied for loan and the bank had sanctioned the loan and to secure the loan and for repayment of loan amount with interests etc" the defendants have executed various loan documents, as stated in the application and proved by aforesaid evidence. Defendants have neither denied the utilization of funds advanced by applicant bank nor have pointed out any specific error and discrepancy in the Statement of Account.

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The evidence discussed above goes to establish that the amount of loan as mentioned in the O.A., was availed by the borrower under the agreed terms and conditions tor repayment with interest, The balance amount till 30.01,2024 has been proved to be Rs.63,19,9801-only by way of statement of accounts. There is nothing to prove the amount more than that disclosed in the aforementioned statement. As such this amount is recoverable till full and tinal realization of the claim.

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In my view, facts of the case stand proved by evidence of the applicant bank. Accordingly, the applicant bank is entitled to recover from defendants jointly and severally of Rs,63,19,9801- along with pendente-lite and future interest @ 8.09% p.a. with compounded monthly rests from 20.03.2024 (The , date of tiling of this OA) till realization, So the final order may be passed accordingly, to meet the ends ofjustice. ORDER

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In the result, the application of the applicant bank is allowed and debt is determined with costs against the defendants. The defendants are hereby jointly and severally, ordered to pay the applicant bank its debt amounting to Rs.63,19,9801- along with pendente-lite and future interest (ll! 8.09% p.a. with compounded monthly rests from 20.03.2024 (The date of filing of this OA) till realization ofthe entire sum due and recoverable with costs.

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OA 168of20241JI

ORT. PATNA

It is made clear that any amount deposited by the defendants. be deducted in the claim amount, if not deducted. •

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Defendants are debarred from transferring, alienating encumbering or otherwise dealing with or disposing of the mortgaged or hypothecated or any other properties and assets without paying the aforesaid adjudicated dues to the applicant bank to secure the ends of justice. The mortgaged or hypothecated assets to secure the loan in question are hereby attached and shall be subject to the final order under the recovery proceedings in pursuance of the Recovery certificate issued under Section 19(22) of Recovery of Debts and Bankruptcy Act 1993. The applicant may submit the certified copy of this Judgment and the Recovery Certificate before the Registrar/Sub- Registrar to endorse the charge over the secured assets.

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Let a certificate of recovery be drawn up forthwith and put up for signatures in terms of provisions contained in Section 19(22) of the Act to be issued, on the basis of the order of the Tribunal to the Recovery Officer. The Recovery Officer shall realize the amount as per the certificate in the manner and mode prescribed under the Act from the defendants, by sale of mortgaged/ hypothecated assets as well as other personal movable/immovable assets of the defendants.

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Parties are directed to appear before the Recovery Officer, DRT. Patna on 10.03.2025. The order be communicated accordingly.

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Judgment signed, sealed, dated and pronounced in the open court on 29 th day of January, 2025.

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Dictated &corrected by me.

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[KaushalendraYadav 1 Presiding Officer Debts Recovery Tribunal. Patna

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FORM NQ, 9

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[S.. Regulation 24( 1)J

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DEBTS RECOVERY TRIBUNAL PATNA

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2nd Floor. (A. B & F Wing) Karpuri Thakur Sedan, Kendriya Karamchari Parisar (GPOA), Ashiana Digha Road, Patna-80002S.

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RECOVERY CERTIFICATE UNDER SECTION 19(D READ WITH SECTION 19l2Z) OF THE REcOVERY OF DEBTS & BANKRUPTCY ACT, 199],AS AMENDED FROM TIME TO TIME.;

Be No. 3112025

Case No: OAl16812024

In the Maller of: (CH· I) HDFC BANK LIMITED BRANCH OFFICE AT 2ND FLOOR. RAJENDRA RAM PLAZA. EXHIBITION ROAD. PATNA.BIHAR ·80000 1

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Applicant(s)

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To.

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(CD-I) BY ENTERPRISES through Proprietor Bindeshwar Yadav (Borrower), at Chhopal Tola, P.O.- Lalpur Shader, P.S.- Kahalgaon, Near Samudayik Bhawan., Bhagalpur .BIHAR -813203

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(CD- 2) BINDESHWAR YADAV PROPRIETOR (BORROWER) S/O· RASIK LAL YADAV.AT CHHOPAl TOlA, P.O., LALPUR Defendant(s) BHADER. r.s.. KAHALGAON NEAR SMAUDAYIK SHAWAN, BHAGALPUR, 813203.

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(CD- 3) TATRI DEV] (CO BORROWER) AT CHHOPAL TOLA, P.O., LALPUR BHADER. es.. KAHALGAON, NEAR SAMUDAYJK BHAWAN. BHAGALPUR· "3203.

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Recov.erY,Ct:rtiJicatej!]r as 6319980.00 I Rup.£qSWy Three Lakhs Nipeteen Thousands Nine Hundred Eigbb'.Jlaly_J

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In terms of final order dated 2910112025 passed by this Tribunal in the above mentioned case, it is ordered that the Applicant Certiticate Holder Bank is entitled to recover a sum of Rs. 6319980.00 along with cost, expenses and interest from the 2010312024 i.e. date of filing I with effective date of the OAll6812024 and future interest from order date till the date of realisation in full. jointly or severally from the Certificate Debtors, hereinafter referred to 88:-

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Sr.no -	CD Name .... .__ .__ ,_....,.._ .,o	Loao Type 1	lot. l)'peJMode I	Int. Rate	Effective Date i ---	Order Date	Amount(Rs.) ,	Liability Type	loterest (aloD Order Date)	RC AmoUDt(Rs.)
t	BY ENTERPRISES	_	Compound Interest (Monthly)	1	_20/03/2024 _	29/0112025	319980.00 --- -- ^..	~tly Severally	lnten:stA1; jon Order Date	6319980.00
2	BINDESHWAR YADAV'	._..	Compound Interest (:M_uHlhlyI _	jL .	_120/03/2024 .....__..,..,, .	2910112025	6319980.00 . ....... _.	Jointly And Severally .	Intcrest A1; on 0_ Da..,	~31998O.00
3	TATRI DEVI (CO :BORROWER)	L	:Compound :Interest (Mont!I1y_,	i009 I L	20/03/2024 :	2_9101/20	2'16319900.00	Jointly And Severally	Interest As ;;:. Order ate	~3]9980.00

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In case of failure to pay the aforementioned adjudicated amount within 30 days, same shall be recovered from the sale of the mortgaged/hypothecated assets as well as other personal movable! Immovable assets of the certificate debtors.

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The mortgaged or hypothecated assets to secure the loan in question are hereby attached and shall be subject to the final order under the recovery proceeding in pursuance of the Recovery certificate issued under Section 19(22) of Recovery or Debts and Bankruptcy Act 1993.

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Parties arc directed to appear before ASHlSH KUMAR, Recovery Officer, DEBTS RECOVERY TRIBUNAL PATNA on 1010312025.

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The Recovery Officer shall realize the amount as per this Certificate in the manner and mode prescribed under Sections 25 to 28 of the Recovery of Debts Due to Banks and Financial Institutions Act, 1~93 (as amended from time to time) from the above named Certificate Debtors.

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This Certificate G~ has been issued under my signature and seal of the Tribunal on this 3010112025 V
PRESIDING OFFICER
~ DEBTS RECOVERY TRIBUNAL PATNA
Registrar'
Debts Recov~ry Tribunal
Patna

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PRESIDING OFFICER DEBTS RECOVERY TRIBUNAL PATNA

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FORM NO. 10 [See Regulation 24(2)]

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DEBTS RECOVERY TRIBUNAL PATNA

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2nd Floor, (A. B & F Wing) Karpuri Thakur Sadan, Kendriya Karamchari Parisar (GPOA), Asbiana Digba Road, Patna-800025.

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SCHEDULE TO RECOVERY CERTIFICATE MEMO OF COSTS

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RC No. 3112025

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Case No: OAl168/2024

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Applicant(s): HDFC BANK LIMITED Versus

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Defendant(s): MiS BY ENTERPRISES

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Sr.No. IF~~=4~[t	;;elm;;;;,;;o;;,f,;;;C;;,os;;t;;,s =============Et	inRs.
1.	ee on the application	66000
2.~ _..-	[Process Fees(Inc. Publication)	0
3.	Advocate Fees	0
4.	CommissionerlReceiverNaluationiSecurity Fee	0
5. ~ Il====	~iscellaneous Cha;ges ~i	I0
t-~-	J:rotal Costs: Rs: ~ ~_ _	1166000

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Place: PATNA

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Date: 3-0/0112025

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PRESIDIN~R DEBTS RECOVERY TRIBUNAL PATNA

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Note: Strike out whichever is not applicable

Hdfc Bank Limited v. by Enterprises

Case brief

What is this about?

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Hdfc Bank Limited v. by Enterprises

Case brief

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