The Debts Recovery Tribunal allowed the original application filed by HDFC Bank Limited against respondents for recovery of an outstanding loan amount. The Tribunal issued a recovery order and fixing interest at 8% p.a.
Recovery of Rs. 25,01,273.00 jointly and severally with simple interest at 08% p.a. from the date of filing the original application.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
DEBTS RECOVERY TRIBUNAL-III, CHANDIGARH
ORIGINAL APPLICATION NO.496/2022
PRESIDED OVER BYMRIDULESH KUMAR SINGH
DATE OF INSTITUTION: 17.03.2022
DATE OF DECISION: 24.04.2025
HDFC Bank Limited, a banking company, carrying on the banking business under the Banking Regulation Act, 1949, incorporated under The Companies Act, 1956 and having Registered Office at HDFC Bank House, Senapati Bapat Marg, Lower Pare, Mumbai 400011, whereas its Branch at “Moga, Distrcit Moga (Punjab)” through Ms. Pooja Arora, Senior Manager (Agri Legal), HDFC Bank Limited, Ludhiana Branch, District Ludhiana(Punjab) being Authorized Officer of Applicant
……..Applicant
Versus
Ferozepur(Punjab)
3b. Ms. Akashdeep Kaur D/o Sh. Gurtej Singh, R/o Village Mihan Singh Wala, Valtoha, Tehsil Zira, District Ferozepur(Punjab)
3c. Ms. Jashandeep Kaur D/o Sh. Gurtej Singh, R/o Village Mihan Singh Wala, Valtoha, Tehsil Zira, District Ferozepur(Punjab)
………. Defendants
2 OA NO.496/2022 HDFC BANK LIMITED VS GURJANT SINGH AND OTHERS
Advocates: Argued by Sh. Saurabh Bharadwaj, Advocate for applicant Defendants are ex-parte
FINAL ORDER
3 OA NO.496/2022 HDFC BANK LIMITED VS GURJANT SINGH AND OTHERS
Annexures A5 to A10 to this OA; Legal Notice dated 14.01.2022 with postal receipts, which is Annexure A12 to this OA and Statements of Accounts duly certified, which are Annexures A13 and A14 to this OA.
4 OA NO.496/2022 HDFC BANK LIMITED VS GURJANT SINGH AND OTHERS
no.1, 2 and legal heirs of deceased defendant no.3, jointly and severally, from the date of filing of the present Original Application till realization of the accounts.
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 both 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.
5 OA NO.496/2022
HDFC BANK LIMITED VS GURJANT SINGH AND OTHERS
Pronounced by me in the open Tribunal .
Dated: 24.04.2025
(MRIDULESH KUMAR SINGH) Presiding Officer, DRT-III, Chandigarh
2 issues framed by the court
Whether the applicant is entitled to recover the outstanding loan amount along with interest from the respondents jointly and severally.
What rate of interest should be granted for the pending and future period of the loan accounts.
2 provisions across 2 enactments
HDFC Bank Limited
Sh. Gurjant Singh
Sh. Lakhveer Singh
Sh. Gurtej Singh
MRIDULESH KUMAR SINGH
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
