Allowed

Hdfc Bank v. Aanavi Packaging Products Pvt. Ltd.

DRT7 Aug 2025OA/295/2023

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the bank's application for recovery of Rs. 3,93,55,690.43 plus interest against the borrower and guarantors, declaring the claim secured by property and directing the registrar to issue a recovery certificate under the RDB Act.

What did the court decide?

Recovery of Rs. 3,93,55,690.43 with 18% p.a. interest; recovery certificate issued under Section 19(22) RDB Act 1993.

Hdfc Bank versus Aanavi Packaging Products Pvt. Ltd. — Insolvency and Bankruptcy | DRT (2025)

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BEFORE THE DEBTS RECOVERY TRIBUNAL-I KOLKATA

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PRESENT: -SHRI AMBUJA MOHAN DAS PRESIDING OFFICER

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O.A. No. 295 of 2023

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DATE OF DELIVERY OF ORDER: 7^th August,2025

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HDFC Bank Limited, a Company incorporated under the Companies Act, 1956, carrying on banking business under License Granted by Reserve Bank of India and registered under Banking Regulation Act, 1949, having its Registered office at HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai – 400013 and amongst others, one of its offices at Jardine House, 1^st Floor, 4, Clive Row, PS- Hare Street, Kolkata – 700001.

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......................Applicant

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And

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AANAVI PACKAGING PRODUCTS PVT. LTD., a company incorporated under the relevant provisions of the Companies Act, 1956 having its registered office at 5A, Robinson Street, Kolkata – 700017, West Bengal.

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SATYA NARAYAN TULSYAN (DIRECTOR/GUARANTOR), son of Ganesh Lall Tulsyan, residing and/or carrying on business at 5A, Robinson Street, Kolkata – 700017, West Bengal.

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UPEN TULSYAN (DIRECTOR/GUARANTOR), son of Satya Narayan Tulsyan, residing and / or carrying on business at 5A, Robinson Street, Kolkata – 700017, West Bengal.

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....................Defendants

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Counsel for the Applicant Bank : Ms. K. Deb and Mr. R. Maity

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Counsel for the Defendants : None appears.

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Set ex-parte on 10/07/2025

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J U D G M E N T

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The present Recovery Application is filed by the HDFC Bank Limited, carrying on business of Banking all over India including from its

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Rina S.

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Branch Office at Jardine House, 1^st Floor, 4, Clive Row, PS- Hare Street, Kolkata – 700001, for recovery of Rs. 3,93,55,690.43 with interest @ 18 % p.a. with monthly rest from 01/04/2023 against the Defendants till payment and/or realization. The Defendants are the borrower/guarantor/ mortgager.

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The service of summons could not be effected upon the Defendants in usual mode of postal service. Hence, by the order of this Tribunal, the summons were served by substitute service by publishing in the newspapers in the ‘The Telegraph’ (in English) and in the ‘Janasatta’(in Bengali) on 02/12/2024 published from Kolkata. Despite substituted service of summons and giving sufficient time, the Defendant neither appeared nor filed the Written Statement to controvert the claim of the Bank. Hence, the matter was declared exparte on 10/07/2025.

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The Applicant in support of its contention filed Evidence on Affidavit duly affirmed by Mr. Soubhadra Dey, Authorised signatory of the Bank annexing the various documents which are exhibited.

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I have perused the documents and Evidence and heard the Ld. Advocate for the Bank. By the said evidence on affidavit the Applicant could prove its claim and documents. The claim of the Bank is within the limitation and within the jurisdiction of this Tribunal. Hence, the claim of the Bank should be allowed with cost.

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In the above circumstances it is ordered :

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O R D E R

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i) Claim of the Applicants is allowed with cost.

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ii) The Defendants are jointly and severally liable to pay Rs. 3,93,55,690.43 with interest @ 18 % p.a. with monthly rest from 01/04/2023 against the Defendants till payment and/or realization.

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iii) It is declared that the claim is secured by hypothecation of moveable and mortgage of immoveable property described in the Schedule of immoveable property as described in the Schedule in the OA at page 35.

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Rina S.

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iv) Let, a certificate be issued accordingly.

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v) Ld. Recovery Officer shall realize the amount as per the Recovery Certificate from the defendants in accordance with law.

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vi) Ld. Registrar of this Tribunal is directed to deliver recovery certificate in term of the final order/judgment for recovery of the sum against the defendants in favour of the Applicant Bank under Section 19 (22) of the Recovery of Debts due to the Bank and Financial Institutions Act, 1993 now known as Recovery of Debts and Bankruptcy Act, 1993.

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vii) The parties are directed to appear before the Recovery Officer I on 12/09/2025 for further action in accordance with law in the event the entire amount is not paid by the said date.

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Accordingly, the Original Application being O.A. No. 295 of 2023 is allowed and stands disposed of. All the IAs, filed in connection with this OA, are also disposed of.

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Copy of the Judgment/Final Order be uploaded in the Tribunal’s website.

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File be consigned to the Record Room.

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(Dictated to P.S., transcribed by her, corrected, signed and pronounced by me in the open Court on this the day 7^th August,2025)

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Place : Kolkata ( Ambuja Mohan Das ) Date : 7^th August,2025 Presiding Officer

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Rina S.

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Page No.-		Order Sheet(continuation)
Case No. OA	/295/2	023 HDFC Bank Limited vs. Aanavi Packaging Products Pvt. Ltd. & ors.
Date of the order		Order with signature Office action with date and dated signature of parties when necessary
7^thAugust, 2025	Appli of th	Ld. Advocates Ms. K. Deb and Mr. R. Maity. appeared for the cant Bank. None appeared on behalf of the Defendants. Matter was heard in open Court on 10/07/2025 The detailed order in three pages annexed separately. The gist e order is as follows: O R D E R
	ii) iii) iv) v) vi)	i) Claim of the Applicants is allowed with cost. The Defendants are jointly and severally liable to pay Rs. 3,93,55,690.43 with interest @ 18 % p.a. with monthly rest from 01/04/2023 against the Defendants till payment and/or realization. It is declared that the claim is secured by hypothecation of moveable and mortgage of immoveable property described in the Schedule of immoveable property as described in the Schedule in the OA at page 35. Let, a certificate be issued accordingly. Ld. Recovery Officer shall realize the amount as per the Recovery Certificate from the defendants in accordance with law. Ld. Registrar of this Tribunal is directed to deliver recovery certificate in term of the final order/judgment for recovery of the sum against the defendants in favour of the Applicant Bank under Section 19 (22) of the Recovery of Debts due to the Bank and Financial Institutions Act, 1993 now known as Recovery of Debts and Bankruptcy Act, 1993.
	vii)	The parties are directed to appear before the Recovery Officer I on 12/09/2025 for further action in accordance with law in the event the entire amount is not paid by the said date. Accordingly, the Original Application being O.A. No. 295 of 2023 is allowed and stands disposed of. All the IAs, filed in connection with this OA, are also disposed of. Copy of the Judgment/Final Order be uploaded in the Tribunal’s website. File be consigned to the Record Room. (Dictated to P.S., transcribed by her, corrected, signed and pronounced by me in the open Court on this the day 7^th August,2025)

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Rina S.

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Place : Kolkata (Ambuja Mohan Das) Date : 7^th August,2025 Presiding Officer

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Rina S.

Hdfc Bank v. Aanavi Packaging Products Pvt. Ltd.

Case brief

What is this about?

What did the court decide?

Hdfc Bank v. Aanavi Packaging Products Pvt. Ltd.

Case brief

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What did the court decide?

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