Allowed

Hdfc Bank Ltd. v. M/S Omkar Agency

DRT4 Oct 2025OA/193/2022

Case brief

AI extract

What is this about?

The Application was disposed of in the absence of the respondents. The Tribunal allowed the application, directing the defaulting borrowers to pay the outstanding principal sum along with future interest at the rate of 9% per annum.

What did the court decide?

Payment of Rs. 24,12,411/- along with future interest at 9% p.a. (simple); recovery through the sale of mortgaged property; issue of Recovery Certificate.

Hdfc Bank Ltd. versus M/S Omkar Agency — Specific Performance | DRT (2025)

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Presented on: 05.02.2022 Registered on: 06.07.2022 Decided on: 04.10.2025 Duration: Y M D 03 07 29

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IN THE DEBTS RECOVERY TRIBUNAL AT AURANGABAD (Before Dr. J. R. Chauhan Presiding Officer) ORIGINAL APPLICATION No. 193/2022

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TOTAL CLAIM AMOUNT – Rs. 24,12,411/-

¶4

HDFC Bank Ltd.

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A Registered Company, Having its Registered Office at HDFC Bank House, Senapati Bapat Marg, Lower Parel, (West), Mumbai. And having its branch office at HDFC Bank Ltd., Pr. No. 10, A-3-2, Gangakhed, and District-Parbhani-431512. Through its Authorized Signatory Shri. Machindra S/o. Kaduba Bhojane, Age: 42 years., Occ.: Service, R/o.: C/o. HDFC Bank Ltd., Department for special operations, 3^rd Floor, Divekar Plaza, Station Road, Near Padampura Circle, Aurangabad-431005.

Versus

… Applicant

(OA No.193/2022)

Page 1 of 9

[AMBADAS]

M/s. Omkar Agency, Through its Prorprietor, Rahul Vijaykumar Naladkar, Shop No. 14, Market Committee Complex, New Mondha, Gangakhed, Dist. Parbhani-431514.

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Rahul Vijaykumar Naladkar, At Gangakhed, Tal. Gangakhed Dist. Parbhani-431514.

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Vijaykumar Baburao Naladkar, At Gangakhed, Tal. Gangakhed Dist. Parbhani-431514.

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…Defendants

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APPEARANCES

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For the Applicant For Defendants

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Mr. Umesh N. Shete -Advocate Ex-parte

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JUDGMENT

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Delivered on 04.10.2025

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The Applicant Bank has filed the present application for the recovery of a sum of Rs. 24,12,411/- (Rupees Twenty Four Lacs, Twelve Thousand, Four Hundred and Eleven only), along with further interest from the date of filing of the Original Application, i.e., 05.02.2022, until the date of realization of the entire outstanding dues from the Defendants.

(OA No.193/2022)

Page 2 of 9

[AMBADAS]

Brief facts of the application are as under:

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The Applicant Bank submits that Defendant No. 1 through its proprietor i.e. defendant No. 2 approached the Applicant Bank with a request for sanction of a Cash Credit loan facility for the purpose of business. Upon due consideration of the said request and the financial requirements of Defendant, the Applicant Bank was pleased to sanction a loan facility of Rs. 15,00,000/- vide sanction letter dated 21.12.2015 at an agreed rate of interest of @12.50 % p.a. with monthly rests. The Defendant also agreed to pay additional interest @2% by way of liquidated damages in the event of any default in repayment.

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Furthermore, the applicant bank states and submits that, after the expiry of the tenure of the cash credit facility, the defendant No. 1 through its proprietor, requested the applicant bank to renew the cash credit facility of Rs. 15,00,000/- . The applicant bank renewed the cash credit facility vide renewal sanction letter dated

(OA No.193/2022)

Page 3 of 9

[AMBADAS]

17.11.2016 on certain terms and conditions. The defendant

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agreed to pay interest @MCLR rate + 3.15% p.a. = 12.05%.

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In order to secure the aforesaid loan facility, the Defendants executed various loan documents in favour of the Applicant Bank. These included sanction letters, master facility agreements, demand promissory notes, letters of hypothecations, letter of continuity, registered mortgage deed bearing daybook No. 2778/2015 dated 21.12.2015 etc. Additionally defendant No. 2 and 3 stood as guarantors for defendant No. 1 and executed deed of guarantee in favour of the applicant bank.

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The Applicant Bank further contends that, in order to secure the aforesaid loan facilities, the Defendants created first charge over their immovable properties by executing registered mortgage deed bearing daybook No. 2778/2015 dated 21.12.2015. The mortgage was created in respect of the following property:

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All that piece and parcel of Plot No. 10/2/2, situated at Main Road, Gangakhed, Tal. Gangakhed, District, Parbhani, Admeasuring

(OA No.193/2022)

Page 4 of 9

[AMBADAS]

111.52 square meteres with built up area thereon, which is bounded as under: East: Road West: Road, North: Property of Mr. Ashok Naladkar, South: Property of Mr. Dinkar Naladkar.

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The applicant bank contended that the defendants have failed to keep their promise and commitments agreed by them with regard to due repayment of the loan amount. The defendants failed to operate the loan account properly and failed to pay the agreed rate of interest as per terms and conditions of the sanction letter. Thereafter, the applicant bank repeatedly made demand of loan amount and called upon the defendants to pay with the agreed rate of interest thereon, but the defendants failed and neglected to pay the same. The loan account of the defendants became irregular and classified as NPA on 29.08.2018. Therefore on 06.01.2022 the applicant bank issued legal Notice to the defendants. The defendants failed and neglected to repay the outstanding dues of the applicant Bank. Hence, this application is filed.

(OA No.193/2022)

Page 5 of 9

[AMBADAS]

The defendants failed to appear in matter though they were served through summons. Hence, the defendants were proceeded ex-parte as per Order dated 14.12.2023.

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The applicant Bank has filed Claim Affidavit of evidence at Exhibit-4 of Machindra S/o. Kaduba Bhojane, Branch Officer of the applicant Bank, and has produced on record the original loan transaction documents as Exh. AW-1/1 to AW-1/20 along with list of documents Exh.05 which corroborates the case of the applicant Bank.

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I have heard arguments of the learned Advocate for the applicant Bank.

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Since the defendants failed to appear and contest the application, I find no reason to disbelieve the unrebutted evidence of the applicant Bank. Therefore, the applicant Bank is entitled for the reliefs as claimed.

(OA No.193/2022)

Page 6 of 9

[AMBADAS]

The applicant Bank has claimed charge over immovable property of the borrowers which is mortgaged in favour of the applicant bank.

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The applicant Bank has claimed future interest @12.50 p. a. from the date of filing i.e. 05.02.2022 of this application till realization of the claim amount. However, considering the facts of the case, I am of the opinion that if future interest is granted @ 9% per annum (simple), it would be just and reasonable rate of interest.

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ORDER

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(A) Original Application No. 193/2022 is allowed with

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costs.

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(B) The defendants shall pay jointly and severally to the applicant Bank a sum of Rs. 24,12,411/- (Rupees Twenty Four Lacs, Twelve Thousand, Four Hundred and Eleven only), along with future interest @ 9% per annum (simple) from the date of filing of the Original

(OA No.193/2022)

Page 7 of 9

[AMBADAS]

Application i.e. 05.02.2022 till full payment/realization of the amount mentioned in this operative order.

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(C) The aforesaid adjudicated amount is secured by the mortgage of the following immovable property vide registered title deed bearing daybook No. 2778/2015 dated 21.12.2015 at Exh. AW-1/11 in the list of documents at Exh. 5.

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All that piece and parcel of Plot No. 10/2/2, situated at Main Road, Gangakhed, Tal. Gangakhed, District, Parbhani, Admeasuring 111.52 square meteres with built up area thereon, which is bounded as under: East: Road West: Road, North: Property of Mr. Ashok Naladkar, South: Property of Mr. Dinkar Naladkar.

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(D) The applicant Bank is entitled to sell the mortgaged immovable property and hypothecated articles/goods etc., to recover its dues.

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(E) Issue Recovery Certificate accordingly.

(OA No.193/2022)

Page 8 of 9

[AMBADAS]

(F) The Registrar is directed to send the copy of the Judgment and Recovery Certificate to the applicant and defendants.

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(G) File be consigned to the record room.

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Sd/-

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Pronounced in open court. Place: Aurangabad Date:.04.10. 2025

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(Dr. J. R. Chauhan) Presiding Officer Debts Recovery Tribunal, Aurangabad

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(OA No.193/2022)

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Page 9 of 9

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[AMBADAS]

Hdfc Bank Ltd. v. M/S Omkar Agency

Case brief

What is this about?

What did the court decide?

Hdfc Bank Ltd. v. M/S Omkar Agency

Case brief

What is this about?

What did the court decide?

What the court decided

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Issues for consideration

Statutes considered

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