Allowed

Hdfc Bank Ltd. v. Sh. Harshpinder Singh and Others

DRT23 Jun 2025OA/202/2025

Case brief

AI extract

What is this about?

DT-III Chambers allowed an original application filed by HDFC Bank for recovery of a loan of approximately Rs. 59.64 lakhs against three defaulting individuals who failed to repay sanctioned credit limit and overdraft facilities secured by mortgaged properties. The order issued directions for recovery including sale of assets.

What did the court decide?

Recovery of sum of Rs.59,64,710.96p with simple interest @8.00%p.a. and costs; Recipe Certificate issued; Sale of hypothecated properties.

Hdfc Bank Ltd. versus Sh. Harshpinder Singh and Others — Banking and Recovery | DRT (2025)

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DEBTS RECOVERY TRIBUNAL-III, CHANDIGARH

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ORIGINAL APPLICATION NO.202/2025

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PRESIDED OVER BYMRIDULESH KUMAR SINGH

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DATE OF INSTITUTION: 21.02.2025

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DATE OF DECISION: 23.06.2025

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HDFC Bank Limited, having its Registered Office at Senapati Bapat Marg, lower Parel (West) Mumbai-400013. Also at Plot No. 1-15, sector -101, Alpha IT City, Mohali through its authorized representative Mr. Dinesh Kumar.

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.. … …..Applicant Versus

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1. Harshpinder Singh S/o Surjit Singh, Near Tawar, Faqarsar, Gidderbaha, Muktsar- 152107

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2. Surjeet Singh S/o Jangir Singh, Fakarsar Road, Their, Faqarsar, Muktsar Sahib, Punjab-152107

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3. Harnarinder Singh Sidhu S/o Manmohan Singh, H. No.524, Near Tower, Village Thehrhi, Tehsil Giddarbaha, Distt. Mukatsar- 152107

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….……Defendants

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Advocates:

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Argued by Sh. Surinder Chawla, Advocate proxy for Sh. Rajesh Jangra, Advocate for Applicant Defendants are ex-parte

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FINAL ORDER

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Present Original Application was instituted by the applicant under Section 19 of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993, against the defendants for recovery of Rs.59,64,710.96p (Rupees Fifty Nine Lacs Sixty Four Thousand Seven Hundred Ten and Paise Ninety Six Only). The Original Application has been filed through Sh. Dinesh Kumar, Authorized Representative o f the applicant, who is competent to institute the Original Application vide General Power of Attorney dated 17.01.2024, which is Annexure A1 to this OA.

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2 OA NO.202-2025 HDFC BANK LIMITED VS HARSHPINDER SINGH AND OTHERS

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The brief facts of the OA are that the defendants had approached the applicant for the grant of CC Limit of Rs.50.00 Lacs vide Loan Application dated 04.01.2021, which is Annexure A3 to this OA.

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The applicant sanctioned CC Limit of Rs.30.69 Lacs, DOD of Rs.13.36 Lacs and Overdraft Limit of Rs.13.86 Lacs vide Sanction Letter dated 31.10.2014 and 25.01.2021, which are Annexure A2(colly) and A4(colly) to this OA and the terms and conditions were duly accepted by the defendants.

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Defendant nos.1 and 2 had mortgaged thier immovable properties i.e. Land measuring 200 Kanal 19 Marle detailed as: a. Land measuring 165Kanal-19Marle situated at village Their-1, Tehsil Gidderbaha b. Land measuring 35Kanal-0Marle situated at village Their-2, Tehsil Gidderbaha. Vide Declaration U/s 4(1) dated 28.01.2021, which is Annexures A6(colly) to his OA Documents executed:- Overdraft Agreement dated 27.01.2021, which is Annexures A5(colly) to this OA; Legal Notice with postal receipt dated 17.10.2024, which is Annexures A7(colly) to this OA and Statements of Accounts with certificate, which is Annexure A8(colly) to this OA. 5. The loan accounts became irregular and were classified as NPA and after adjusting debit and credit entries in all the loan accounts there was a debit of Rs.59,64,710.96p, which is recoverable and the defendants were served recall notices but they did not repay the outstanding amount, therefore, the applicant requested to accept the application and to issue Recovery Certificate accordingly. 6. The defendants were served notices to appear before this Tribunal but no one appeared on behalf of defendants and they were proceeded ex-parte on 16.06.2025.

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3 OA NO.202-2025 HDFC BANK LIMITED VS HARSHPINDER SINGH AND OTHERS

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In support of the OA, affidavit of Sh. Dinesh Kumar, Authorized Representative, HDFC Bank Limited, has been filed.

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Heard arguments and perused record.

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It was argued by learned proxy counsel that in view of the documentary evidence brought on record which had gone unrebutted, the applicant bank had proved its case. From the perusal of all the Annexures A1 to A8 to this OA, it is proved that the defendants approached applicant bank for availing of the loan facilities which were granted to them and for that they had executed all the relevant documents in favour of the bank. The defendants failed to pay back the loans as per terms and conditions of the agreement between the parties. Subsequently, accounts of the defendants were classified as NPA. From the documentary evidence brought on record, it is proved that applicant bank is entitled to recover a sum of Rs.59,64,710.96p (Rupees Fifty Nine Lacs Sixty Four Thousand Seven Hundred Ten and Paise Ninety Six Only) along with interest from the defendants, jointly and severally, from the date of filing of the present Original Application till realization of the accounts.

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In so far as pendent elite and future rate of interest is concerned, the applicant in relief clause has claimed interest @11.00%p.a. plus penal interest @16.00%p.a. with half yearly rests from 16.10.2024 till the realization.

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The Tribunal is of the considered opinion that sometimes in appropriate cases the prerogative of mercy is the brightest jewel in the crown of the Judge. Keeping in view the facts and circumstances of the instant case including nature of the mortgaged property, undertaking of the defendants, quantum of loan and prevalent market rates of interest which have gone drastically downhill in yester years, while exercising the discretion vested in this Tribunal, this Tribunal deems it just and appropriate to grant uniform simple interest @08.00%p.a. in

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4 OA NO.202-2025

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HDFC BANK LIMITED VS HARSHPINDER SINGH AND OTHERS

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the loan accounts from the date of filing of the OA till realization of the amount ordered vide this final order. It is ordered accordingly.

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In the result, the application is allowed declaring that the defendants are liable to pay to the applicant a total sum of Rs.59,64,710.96p (Rupees Fifty Nine Lacs Sixty Four Thousand Seven Hundred Ten and Paise Ninety Six Only) jointly and severally, with costs, current and future simple interest @8.00%p.a. in all the loan accounts from the date of filing of OA till the date of realization of the amount. Accordingly, the applicant shall be entitled to recover aforesaid amount from the sale of hypothecated/mortgaged properties of the defendants in execution proceedings if not sold earlier under the provisions of the SARFAESI Act, 2002. If the dues of the applicant still remain unsatisfied, it shall be entitled to recover the same by attachment and sale of personal assets of the defendants. The applicant is at liberty to enforce the claim through due process of law.

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Any other application pending stands disposed of.

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Issue Recovery Certificate accordingly.

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Parties to appear before Learned Recovery Officer of this Tribunal on 14.07.2025.

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Copy of this order be given dasti to the applicant and be sent to defendants through registered/speed post and this order be also uploaded on the official website of this Tribunal and record be consigned.

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Pronounced by me in the open Tribunal . Dated: 23.06.2025

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(MRIDULESH KUMAR SINGH) Presiding Officer,

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DRT-III, Chandigarh

Hdfc Bank Ltd. v. Sh. Harshpinder Singh and Others

Case brief

What is this about?

What did the court decide?

Hdfc Bank Ltd. v. Sh. Harshpinder Singh and Others

Case brief

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What did the court decide?

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