Allowed

Hdfc Bank v. M/s Keshri Medicine

DRT23 Jul 2025OA/397/2024

Case brief

AI extract

What is this about?

The Tribunal allowed the bank's application under Section 19 of the RDB Act. Relying on documentary evidence and an affidavit while defendants were absent, the court determined the debt of Rs. 46,56,575.27 including interest and passed recovery proceedings.

What did the court decide?

Defendants ordered to pay Rs. 46,56,575.27 along with pendente-lite and future interest at 10% p.a. with compounded monthly rests; recovery certificate drawn up.

Hdfc Bank versus M/s Keshri Medicine — Banking and Recovery | DRT (2025)

OA 397 of 20241JI

DRT, PATNA

Debts Recovery Tribunal, Patna

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Karpuri Thakur Sadan, Aashiana Digha Road Patna-800025

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Presiding Officer : Shri Kaushalendra Yadav

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OA Case No. 397 of 2024

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

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. . . . . . .Applicant

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M/s Keshri Medicine through proprietor Abhishek Keshri (Borrower), Near Jamua Chowk, Buxar, Bihar- 802101, PAN No.ARJPK4010G

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Abhishek Keshri (Proprietor and Borrower), S/o Sri Krishna Prasad Keshri, resident of Ward no.30, Near Jamua Chowk, Buxar, Bihar802101, PAN No.ARJPK4010G

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Shri Krishna Prasad Keshri (Co-borrower/Guarantor/Mortgagor), S/o Vishwanath Keshri, resident of ward no.30, Near Jamua Chowk, Buxar, Bihar- 802 101

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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:23.07.2025

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JUDGMENT

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The Applicant bank has made this application u/s 19 of the Recovery of Debts and Bankruptcy Act, 1993 (here-in-after referred to as Act) on 22.07.2024 against the defendants to recover its debts from defendants of Rs.46,56,575.27 as on 30.04.2024 along with pendente-lite and future interest at the contractual rate from 01.05.2024 with costs till realization.

¶20

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

V,\i

OA 397 of20241Jl

DRT, PATNA

3 . Defendants approached the applicant bank for sanction of cash credit facility of Rs.30 Lakh vide loan application dated 16.04.2019, which was sanctioned by the applicant bank on 19.07.2019 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 created mortgage of residential property in favour of the applicant bank, details of which are given in OA.

¶26

The said cash credit facility was renewed and enhanced from Rs.30 Lakh to Rs.50 Lakh in the year 2020 and a renewal sanction letter dated 06.08.2020 was issued 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 created/extended mortgage of residential property in favour of the applicant bank, details of which are given in OA. The defendants have also availed a EEG-WCTL-GECL loan for a sum of Rs.5,08,084/-, which was sanctioned by the applicant bank on 08.08.2020.

¶27

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 05.03.2024.

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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.46,56,575.27 as on 30.04.2024 with pendente-lite and future interest contractual rate from 01.05.2024 till the realization.

¶30

This Tribunal issued summons/notices copies of application & paper book to the defendants by registered/speed post on 31.08.2024, requiring them

OA 397 of20241JI

DRT, PATNA

to show-cause within 30 days of the service U/s 19 (4) of the Act & Rule of the DRT [Procedure] Rules, 1993.

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Despite the service of registered summons/notices, 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, but they failed to appear and to file WS, hence, the Tribunal has passed an order to proceed ex-parte against the defendants on 04.04.2025.

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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 Pappu Thakur, Authorized Officer of the applicant bank. The details of documents are as follows:

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Sl.No	Description Documents Photocopies of	1Date of Execution	IAmount I(in Lakh)	ISignature 1Executants	of
	PowerofAttorne'	16.07.2022	k
	Loan application Sanction letter	16.04.2019 19.07.2019	e 30.00	1 Bank accepte de£no.I&2	and dby
3	Deed of HyDothecation	23.07.2019	e
4	e recording past transactionsof creationofmortgage by delivery of title deeds	23.07.2019	e
5	Memorandum relating to charge overfixeddeposits	23.07.2019	e
6	Letter ofcontinuing secuIIty	23.07.2019	e
7	Sanctionletter	06.08.2020	e	1 Bank accepted def.no.1&2	and by
	o
	Statementofaccount

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8 Heard arguments and peruse(1 the case record

DRT, PATNA

OA 397 of20241JI

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 /compound 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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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 M.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.

¶46

On the issue of Limitation, to prove it, the applicant bank has submitted that the applicant bank has declared the account as NPA on 05.03.20249 whereas the present application has been filed on 22.07.2024. 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 filed well within the period of limitation.

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Shri Pappu Thakur, Authorized Officer of the applicant bark has filed 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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DRT, PATN A

OA 397 of2024jJI

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 (11) 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 1 of section 19 by the applicant.

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Section 4 of Banker’s Books evidence Act, 1891 runs as underS.4. Mode of proof of entries in bankers’ books.–Subject to the provisions of this Act, a certifIed copy of any entry in a banker’s book shall in all legal proceedings be received as prima facie evidence of the existence of such entry, and shall be admitted as evidence of the matters, transactions and accounts therein recorded in every case where, and to the same extent as, the original entry itself is now by law admissible, but not further or otherwise.

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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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15 . 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.

¶58

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 for repayment with interest. The balance amount till 30.04.2024 has been proved to be Rs.46,56,575.27 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 final realization of the claim. L//, q ’rya

OA 397 of2024jJI

DRT, PATN A

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.46,56,575.27 along with pendente-lite and future interest @ 10% p.a. with compounded monthly rests from 22.07.2024 (The date of filing of this OA) till realization. So the final order may be passed accordingly, to meet the ends of justice.

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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.46,56,575.27 along with pendente-lite and future interest @ 10% p.a. with compounded monthly rests from 22.07.2024 (The date of filing of this OA) till realization of the entire sum due and recoverable with costs.

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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. The Recovery Officer will issue demand notice to the Certificate

OA 397 of 20241JI

DRT, PATNA

debtors only after the proof of compliance under rule 16 of DRT (Procedure) Rules 1993, is submitted. The copy of this judgment be uploaded in the website of the Tribunal.

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Parties are directed to appear before the Recovery Officer, DRT, Patna on 03.09.2025. The order be communicated accordingly.

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Judgment signed, sealed, dated and pronounced in the open court on 23-d day of July, 2025.

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Dictated &corrected by me.

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[KaushalendraYadav] Presiding Officer Debts Recovery Tribunal, Patna

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B )++

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FaRr\1 NO. 9

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DEBTS RECOVERY TRIBUNAL PATNA

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[See Regulation 24(1 )]

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2nd Floor, (A. B & F Willg) Karpuri Thakur Sadan, Kendriya Karamchari Parisar (GPO A), Ashiana Digha Road, Patna-800025

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RECOVERY CERTIFICATE UNDER SECTION 19(Z) READ WITH SECTION 19(B) OF THE RECOVERY OF DEBTS & BANKRUPTCY ACT, 1993, AS AMENDED FROM TIME TO TIME.

RC No. 240/2025

Case No: OA/397/2024

In the Matter of: . . , (CH- I)'HDFdBANK 11 r t ''hd BRANCH OFFICE AT 1 ST FLOOR RAJENDRA RAM PLAZA. EXHIBITION ROAD. PATNA ,BIHAR -800001

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Applicant(s)

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–--– Versus –––To

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(CD- 1) M/S KESHRI MEDIC[NE through proprietor Abhishek Keshri (Borrower) Near Jamua Chowk, Buxar,BIHAR -802 1 01

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(CD- 2) ABHISHEK KESHRI (PROPRIETOR AND BORROWER)

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S/0- SRI KRISHNA PRASAD KESHRI, RESIDENT OF WARD NO-30. NEAR JAMUA CHOWK, BUXAR, BIHAR- 802 1 0 1

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Defendant(s)

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(CD- 3) SHRI KRISHNA PRASAD KESHRI (COBORROWER/GUARANTOR/MORTGAGOR) S/0- VISHWANATH KESHRI, RESIDENT OF WARD NO- 30, NEAR JAMUNA CHOWK, BUXAR, BIHAR802 1 0 1

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Recovery CerHncate for Rs 4656575.27 [ Rupees Forty Six Lakhs Fifty Six Thousands Five Hundred Seventy Five And Pajge Twenty Seven Only I

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In terms of final order dated 23/07/2025 passed by this Tribunal in the above mentioned case, it is ordered that the Applicant Certificate Holder Bank is entitled to recover a sum of Rs. 4656575.27 along with cost, expenses and interest from the 22/07/2024 i.e. date of filing / with effective ddte of the OA/397/2024 and future interest from order date till the date of realisation in full, jointly or severally from the Certificate Debtors, hereinafter referred to as:-

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	Int dod	Int. '	Order Date	it(Rs.)	Liability T)Te		RC munI(Rs.)
M/S KESHRI MEDICINE	rpound Flntcrcst Monthly )	10		;575.27	lointly ;evera11		[656575.27
	'ompound Interest 4onthly)	10		,56575.27	intly .nd ly	[nterest on a Date	156575.27
	lmpound crest Monthly)	O	r/20251	14656575,27			1656575,27

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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 of Debts and Bankruptcy Act 1993

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Parties are directed to appear before MANOJ KUMAR , Recovery Ofticer, DEBTS RECOVERY TRIBUNAL PATN A on 03/09/2025

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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, 1993 (as amended from time to time) from the above named Certificate Debtors

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This Certificate has been issued under my signdture and seal of the Tribunal on this 24/07/2025

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LH hgistrar Debts Recovery Tribunal patiid

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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), Ashiana Digha Road, Patna-800025 .

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SCHEDULE TO RECOVERY CERTIFICATE MEMO OF COSTS

RC No. 240/2025

Case No: OA/397/2024

Applicant(s): HDFC BANK

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Versus

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Defendant(s): M/S KESHRI MEDICINE

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Item of Costs	I Amount inRs
Fee on the application	m4
I	[0
AdvocateFees	[0
e	[0
e
Total Costs:Rs	m4

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Place: PATNA

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Date: 24/07/2025

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PRESIDKG OFFICER DEBTS RECOVERY TRIBUNAL PATNA

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Note: Strike out whichever is not applicable

Hdfc Bank v. M/s Keshri Medicine

Case brief

What is this about?

What did the court decide?

Hdfc Bank v. M/s Keshri Medicine

Case brief

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What did the court decide?

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