Allowed

Hdfc Bank Limited v. Sh. Lakhveer Singh Alias Bakhshish Singh and Others

DRT25 Sept 2025OA/497/2022

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed an application under Section 19 of RDB Act 1993 filed by HDFC Bank Ltd. for recovery of Rs. 46,64,039 against borrowers and guarantors. Tribunal declared the amount payable and directed issuance of Recovery Certificate, granting 8% p.a. interest ex-gratia.

What did the court decide?

Allowed recovery of Rs. 46,64,039 with 8% p.a. interest; directed issuance of Recovery Certificate and enforcement through sale of mortgaged properties.

Hdfc Bank Limited versus Sh. Lakhveer Singh Alias… — Contract and Commercial Disputes | DRT (2025)

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DEBTS RECOVERY TRIBUNAL-III, CHANDIGARH

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ORIGINAL APPLICATION NO.497/2022

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PRESIDED OVER BY MRIDULESH KUMAR SINGH

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DATE OF INSTITUTION: 17.03.2022

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DATE OF DECISION: 25.09.2025

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HDFC Bank Ltd., a banking company carrying on 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 Parel, Mumbai-400013 whereas Branch Office amongst other places at “Moga Branch, District Moga (Punjab)” through Pooja Arora, Senior Manager (Agri. Legal), HDFC Bank Ltd., Ludhiana Branch, District Ludhiana (Punjab) being Power of Attorney holder of the applicant.

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……..Applicant

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Versus

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Sh. Lakhveer Singh @ Bakhshish Singh S/o Sh. Major Singh, R/o Village Mihan Singh Wala, Valtoha, Tehsil Zira, District Ferozepur (Punjab)- 142047.

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Sh. Gurjant Singh S/o Sh. Major Singh R/o H. No. 61, Village Mihan Singh Wala, Valtoha, Tehsil Zira, District Ferozepur (Punjab)- 142047

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Sh. Gurtej Singh S/o Sh. Boota Singh, since deceased through his legal heirs/representatives detail as under:

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A. Smt. Amarjit Kaur, W/o Late Sh. Gurtej Singh, R/o Village Mihan Singh Wala, Valtoha, Tehsil Zira, District Ferozepur (Punjab)- 142047.

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B. Ms. Amarjit Kaur, D/o Late Sh. Gurtej Singh, R/o Village Mihan Singh Wala, Valtoha, Tehsil Zira, District Ferozepur (Punjab)- 142047.

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C. Ms. Amarjit Kaur, D/o Late Sh. Gurtej Singh, R/o Village Mihan Singh Wala, Valtoha, Tehsil Zira, District Ferozepur (Punjab)- 142047.

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….……Defendants

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2 OA NO.497/2022 HDFC BANK LIMITED VS SH. LAKHVEER SINGH @ BAKHSHISH SINGH AND OTHERS

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Advocates: Argued by, Sh. Saurabh Bhardwaj, Advocate for Applicant (through VC)

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Defendants already ex parte

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FINAL ORDER

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1. Present Original Application was instituted by the applicant under
Section 19 of the Recovery of Debts & Bankruptcy Act, 1993, against
the defendants for recovery of Rs.46,64,039.00p (Rupees Forty Six Lacs Sixty Four Thousand Thirty Nine Only). The Original Application has been
filed through Ms.Pooja Arora, Senior Manager (Agri. Legal)of the
applicant, who is competent to institute the Original Application vide
Power of attorney dated 16.12.2020, which isAnnexure A1to this OA.
2. The brief facts of the OA are that the defendant no.1 had
approached the applicant for the grant of CC Limit of Rs.40.00 Lacs &
Term Loan of Rs.10.00 Lacs vide Application Form dated 20.11.2015, which isAnnexure A2to this OA. Defendant no. 2 and defendant no. 3
(since deceased) stood as guarantor.
3. The applicant sanctioned the of CC Limit of Rs.35.00 Lacs & Term
Loan of Rs.5.00 Lacs vide Sanction letter dated 08.02.2016, which are
Annexures A3 & A4to this OA and the terms and conditions were duly accepted by the defendants.
4. Defendant no.1 had mortgaged his immovable properties i.e. total
land measuring 111K-19M detailed as under:
a. land measuring 51K-01M situated at Village Meehan Singh Wala,
Tehsil Zira, District Ferozepur (Punjab)
b. land measuring 60K-18M situated at Village Chuchak Wind, Tehsil
Zira, District Ferozepur (Punjab)
Vide declaration u/s 4(1) dated 11.02.2016, which isAnnexure A11to this OA.
Documents executed:DP Notes, Letters of Continuity for DP Note,
Agreement for Term Loan-cum-Guarantee-cum-Hypothecation and Agreement for Over draft/Cash Credit-cum-Guarantee-cum-

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3 OA NO.497/2022 HDFC BANK LIMITED VS SH. LAKHVEER SINGH @ BAKHSHISH SINGH AND OTHERS

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hypothecation, all dated 11.02.2016, which are Annexures A6 to A10 to this OA; Legal Notice dated 14.01.2022, along with postal receipts, which is Annexure A12 to this OA and CC Limit Statement of Accounts, which are Annexures A13 to A14 to this OA.

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The loan accounts became irregular and were classified as NPA and after adjusting debit and credit entries in both the loan accounts there was a debit of Rs.46,64,039.00p, 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 28.07.2025. 7. In support of the OA, affidavit of Ms. Pooja Arora, Senior Manager (Agri. Legal) HDFC Bank Ltd., h as been filed. 8. Heard ex-parte arguments and perused record. 9. It was argued by learned counsel through Video Conferencing that in view of the documentary evidence brought on record which had gone unrebutted, the applicant had proved its case. From the perusal of all the Annexures A1 to A14 to this OA, it is proved that the defendants approached applicant 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 applicant. The defendants failed to pay back the loan 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 is entitled to recover a sum of Rs.46,64,039.00p (Rupees Forty Six Lacs Sixty Four Thousand Thirty Nine Only) along with interest from the defendants, jointly and severally from the date of filing of the present Original Application till realization of the account.

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4 OA NO.497/2022 HDFC BANK LIMITED VS SH. LAKHVEER SINGH @ BAKHSHISH SINGH AND OTHERS

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In so far as pendent lite and future rate of interest is concerned, the applicant in relief clause has claimed interest @12.00%p.a. in both the loan accounts from 10.01.2022 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 loans 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 @8.00%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.

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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.46,64,039.00p (Rupees Forty Six Lacs Sixty Four Thousand Thirty Nine Only) jointly and severally, with costs, current and future simple interest @8.00%p.a. in both 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 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 . 13. Issue Recovery Certificate accordingly.

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Parties to appear before Learned Recovery Officer of this Tribunal

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on 17.10.2025.

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5 OA NO.497/2022 HDFC BANK LIMITED VS SH. LAKHVEER SINGH @ BAKHSHISH SINGH AND OTHERS

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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. Pronounced by me in the open Tribunal . Dated: 25.09.2025

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(MRIDULESH KUMAR SINGH) Presiding Officer, DRT-III, Chandigarh

Hdfc Bank Limited v. Sh. Lakhveer Singh Alias Bakhshish Singh and Others

Case brief

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Hdfc Bank Limited v. Sh. Lakhveer Singh Alias Bakhshish Singh and Others

Case brief

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