Allowed

Hdfc Bank v. Sh. Manoj Kumar

DRT20 May 2025OA/1880/2022

Case brief

AI extract

What is this about?

HDFC Bank applied under Section 19 of the RDB Act for recovery of dues of Rs.25,56,702.34 with interest. The Tribunal verified the evidence and approved the recovery of the outstanding amount with interest and joint and several liability of the mortgagors.

What did the court decide?

Recovery of Rs.25,56,702.34 with interest @11.50% p.a. from default to 06.09.2022; joint and several liability; Recovery Certificate issued.

Hdfc Bank versus Sh. Manoj Kumar — 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: 1880/2022 Date of Institution: 06.09.2022 Date of Decision: 20.05.2025

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HDFC Bank Ltd. having its branches all over India and a branch at Abohar, District Fazilka, Punjab.

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……..Applicant

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Vs.

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Sh. Manoj Kumar s/o Sh. Hans Kumar, r/o H.No. 262, Village Rajanwali, Tehsil Abohar, District Fazilka, Punjab.

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Sh. Vikram Kumar s/o Sh. Hans Kumar, r/o H.No.262, Village Rajanwali, Tehsil Abohar, District Fazilka, Punjab.

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……….Defendants

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Advocates

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Sh. Soarabh Modi, Counsel for the applicant bank. Defendants- ex parte vide order dated 18.04.2023 .

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OA for the Recovery of Rs.25,56,702.34p with interest @11.50% per annum with half-yearly rests from 06.09.2022.

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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.25,56,702.34p with interest against Sh. Manoj Kumar and another (defendants).

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Bank’s case is that on 25.11.2013, it had granted a loan of Rs.6.60 Lacs in the form of Retail Agriculture C.C. Limit and KGC Limit of Rs.2.50Lacs for agricultural purpose. On 09.06.2015, Bank further renewed KGC Limit and enhanced the CC Limit from Rs.6.60 Lacs to Rs.17.45 Lacs. Thereafter, in view of the COVID-19 and notification

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issued by the RBI, Bank had converted the interest amount into Term Loan by opening the separate Term Loan account i.e. KGC Term Loan (Agri Covid Moratorium FITL). To secure the loan, Defendant No.1 and 2 had mortgaged their land (fully detailed in para No.3A of the application). The loan was chargeable to interest @11.50% per annum with half-yearly rests. On 31.03.2022, a sum of Rs.25,56,702.34p was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.

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On 23.09.2022, summonses were sent to the defendants by registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 18.04.2023, they were proceeded ex parte .

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In order to prove its case, the Bank has placed on record the affidavit of Sh. Parampreet Singh Kahlon, Assistant Manager along with the loan and security documents and marked them as Exhibit A-1 to A-16.

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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 under different schemes and on 31.03.2022, a sum of Rs.25,56,702.34p was due. 6. Accordingly, the application of the bank for the recovery of Rs.25,56,702.34p (Rupees Twenty Five Lacs Fifty Six Thousand Seven Hundred Two and Thirty Four Paise Only) with interest @11.50% per annum with half-yearly rests from 06.09.2022, 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 land fully detailed in para No.3A of the application as well as from the personal movable and immovable property(ies) of the defendants.

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Pending IAs, if any, stand disposed of. 8. Recovery Certificate be issued accordingly.

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Parties are directed to appear before Recovery Officer on 24.06.2025, who is directed to distribute the sale proceeds of the mortgaged land and standing crops as per the provisions of Section 19(20AB) 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: 20.05.2025 Presiding Officer DRT-1, Chandigarh MANOJ KALRA

Hdfc Bank v. Sh. Manoj Kumar

Case brief

What is this about?

What did the court decide?

Hdfc Bank v. Sh. Manoj Kumar

Case brief

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What did the court decide?

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