Allowed

Hdfc Bank v. Sh. Gurpreet Singh

DRT3 Mar 2025OA/398/2023

Case brief

AI extract

What is this about?

In an application under Section 19 of the RDB Act, the Debts Recovery Tribunal allowed HDFC Bank's claim for recovery of outstanding loan dues and interest against the respondents, directed issuance of a recovery certificate, and ordered distribution of sale proceeds of mortgaged land.

What did the court decide?

Application allowed; recovery certificate issued; sale proceeds of mortgaged land to be distributed as per Section 19(20-AB).

Hdfc Bank versus Sh. Gurpreet Singh — Execution and Attachment | 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: 398/2023 Date of Institution: 15.02.2023 Date of Decision: 03.03.2025

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HDFC Bank Limited having its branches all over India and a branch at Talwandi Bhai, District Ferozepur, Punjab. ……..Applicant Vs. 1. Sh. Gurpreet Singh s/o Sh. Gurdev Singh, r/o Village Bholuwala, District Ferozepur, Punjab. 2. Sh. Balvir Singh s/o Sh. Gurbachan Singh, r/o Village Bholuwala, District Ferozepur, Punjab. 3. Sh. Baljinder Singh s/o Sh. Thana Singh, r/o Village Bholuwala, District Ferozepur, Punjab. ……….Defendants Advocates Sh. Soarabh Modi, Counsel for the applicant bank. Defendants- ex parte . OA for the Recovery of Rs.29,44,463.34p with interest @11.50% per annum with half-yearly rests from 15.02.2023. ORDER 1. HDFC Bank Limited (Bank) has filed this application under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993 (RDB Act) for the recovery of Rs.29,44,463.34p with interest against Sh. Gurpreet Singh and others (defendants). 2. Bank’s case is that on 17.11.2015, it had granted a Retail Agri Cash Credit Limit of Rs.8.00 and KGC Term Loan of Rs.7.00 Lacs to defendant No.1 and 2 for agriculture purpose. Further, at the requests of defendants on 10.03.2016 bank had granted a KGC Auto Loan of Rs.3.55 Lacs. Thereafter, on 26.03.2017 at the request of defendant no.1

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2 and 2 bank had granted/enhanced Retail Agri Cash Credit Limit of
Rs.12.50 Lacs. To secure the loan, Defendant No.1 and 2 had mortgaged
their land (fully detailed in para No.3A of the application). Defendant
No.3 had stood guarantor. The loans were chargeable to different rates of interest. On 30.09.2022, a sum of Rs.29,44,463.34p was due from the
defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.
3. On 10.03.2023, summonses were sent to the defendants by registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 26.02.2024, they were proceeded_ex_ parte.
4. In order to prove its case, the Bank has placed on record the
affidavit of Mr. Parampreet Singh Kahlon, Branch Manager along with
the loan and security documents and marked them as Exhibit A-1 to A-
21.
5. 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 various schemes and on 30.09.2022, a sum of Rs.29,44,463.34p was due.
6. Accordingly, the application of the bank for the recovery of
Rs.29,44,463.34p (Rupees Twenty Nine Lacs Forty Four Thousand Four
Hundred Sixty Three and Thirty Four Paise Only) with interest
@11.50% per annum with half-yearly rests from 15.02.2023, 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

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well as from the personal movable and immovable property(ies) of the defendants. 7. Pending IAs, if any, stand disposed of. 8. Recovery Certificate be issued accordingly. 9. Parties are directed to appear before Recovery Officer on 02.04.2025, who is directed to distribute the sale proceeds of the mortgage land as per the provisions of Section 19(20-AB) 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: 03.03.2025 Presiding Officer DRT-1, Chandigarh

Hdfc Bank v. Sh. Gurpreet Singh

Case brief

What is this about?

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Hdfc Bank v. Sh. Gurpreet Singh

Case brief

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What did the court decide?

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