Allowed

Hdfc Bank v. Bramhadev Ankush Veer

DRT8 Sept 2025OA/513/2024

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed an application filed by HDFC Bank for recovery of Rs. 23,96,503.13/- along with future interest at 9% per annum from borrowers who defaulted on a vehicle loan facility.

What did the court decide?

Directed respondents to jointly and severally pay Rs. 23,96,503.13/- with future interest at 9% p.a. from 28.02.2024; confirmed security over hypothecated vehicle; issued Recovery Certificate.

Hdfc Bank versus Bramhadev Ankush Veer — Contract and Commercial Disputes | DRT (2025)

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Presented on: 28.02.2024 Registered on: 09.07.2024 Decided on: 08.09.2025 Duration: Y M D 01 06 10

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IN THE DEBTS RECOVERY TRIBUNAL AT AURANGABAD (Before Dr. J. R. Chauhan Presiding Officer) ORIGINAL APPLICATION No. 513/2024

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TOTAL CLAIM AMOUNT – Rs. 23,96,503.13/-

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HDFC Bank Ltd.

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A Registered Company, Having its Registered Office at HDFC Bank House, Senapati Bapat Marg, Lower Parel, (West), Mumbai. And having its branch office at Bajirao Jagtap Complex, Swarajya Nagar, Barshi Road, Gut No. 3, Beed-431122. Through its Authorized Signatory And Power of Attorney Holder Shri. Rahul S/. Tatyasaheb Gade, Age: 41 years, Occ.: Service, R/o.: C/o. HDFC Bank Ltd., 1^st floor, Renuka Commercial Complex, Nirala Bazar, Aurangabad.

… Applicant

(OA No.513/2024)

Page 1 of 7

[AMBADAS]

Versus

Bramhadev Ankush Veer, Age: 43 years, Occu.: Business, R/o. S/o. Ankush, At Karchundi, Post Pali Karchundi, Near Govind Baba Mandir, Beed, Tq. & Dist. Beed-431205.

¶12

Pratiksha Prabhakar Shirsat, Age: 30 years, Occu.: Home maker, R/o.: At Karchundi, Post Pali Karchundi, Near Govind Baba Mandir, Beed, Tq. & Dist. Beed-431205.

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…Defendants

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APPEARANCES

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For the Applicant For Defendants

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Mr. Umesh N. Shete -Advocate Ex-parte

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JUDGMENT Delivered on 08.09.2025

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The Applicant Bank has filed the present application for the recovery of a sum of Rs. 23,96,503.13/- (Rupees Twenty Three Lacs, Ninety Six Thousand, Five Hundred Three and Thirteen Paisa only), along with further interest from the date of filing of the Original Application, i.e., 28.02.2024, until the date of

(OA No.513/2024)

Page 2 of 7

[AMBADAS]

realization of the entire outstanding dues from the Defendants.

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Brief facts of the application are as under:

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The Applicant Bank submits that Defendant No. 1 & 2 approached the Applicant Bank with a request for sanction of a Cash Credit loan facility for the purpose of purchasing a vehicle. Upon due consideration of the said request and the financial requirements of Defendants, the Applicant Bank was pleased to sanction a loan facility of Rs. 22,89,636/- for the purchase of an Ashok Leyland ecomet 1615, at an agreed rate of interest of @12.50 % p.a. with monthly rests. The Defendant also agreed to pay additional interest @2% by way of liquidated damages in the event of any default in repayment.

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In order to secure the aforesaid loan facility, the Defendants executed various loan documents in favour of the Applicant Bank. These included loan application, agreement for loan and guarantee dated 20.03.2023.

(OA No.513/2024)

Page 3 of 7

[AMBADAS]

The Applicant Bank further contends that, in order to secure the aforesaid loan facility, the Defendants hypothecated vehicle Ashok Leyland Ecomet 1615 which is registered with registration no. MH-23-AU-5046.

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The applicant bank contended that the defendants have failed to keep their promise and commitments agreed by them with regard to due repayment of the loan amount. The defendants failed to operate the loan account properly and failed to pay the agreed rate of interest as per terms and conditions of the sanction letter. Thereafter, the applicant bank repeatedly made demand of loan amount and called upon the defendants to pay with the agreed rate of interest thereon, but the defendants failed and neglected to pay the same. The loan account of the defendants became irregular and classified as NPA on 13.09.2023. Therefore on 25.09.2023 the applicant bank issued legal Notice to the defendants. The defendants failed and neglected to repay the outstanding dues of the applicant Bank. Hence, this application is filed.

(OA No.513/2024)

Page 4 of 7

[AMBADAS]

The defendants failed to appear in matter though they were served through RPAD. Hence, the defendants were proceeded ex-parte as per Order dated 16.01.2025.

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The applicant Bank has filed Claim Affidavit of evidence at Exhibit-10 of Smita Manoj Ghadmode, Power of Attorney Holder of the applicant Bank, and has produced on record the original loan transaction documents as Exh. AW-1/1 to AW-1/6 along with list of documents Exh.11 which corroborates the case of the applicant Bank.

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I have heard arguments of the learned Advocate for the applicant Bank.

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Since the defendants failed to appear and contest the application, I find no reason to disbelieve the unrebutted evidence of the applicant Bank. Therefore, the applicant Bank is entitled for the reliefs as claimed.

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The applicant Bank has claimed charge over hypothecated vehicle of the borrower.

(OA No.513/2024)

Page 5 of 7

[AMBADAS]

The applicant Bank has claimed future interest @12.50 p. a. from the date of filing i.e. 28.02.2024 of this application till realization of the claim amount. However, considering the facts of the case, I am of the opinion that if future interest is granted @ 9% per annum (simple), it would be just and reasonable rate of interest.

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ORDER

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(A) Original Application No. 513/2024 is allowed with costs.

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(B) The defendants shall jointly and severally pay to the applicant Bank a sum of Rs. 23,96,503.13/- (Rupees Twenty Three Lacs, Ninety Six Thousand, Five Hundred Three and Thirteen Paisa only), along with future interest @ 9% per annum (simple) from the date of filing of the Original Application i.e. 28.02.2024 till full payment/realization of the amount mentioned in this operative order.

(OA No.513/2024)

Page 6 of 7

[AMBADAS]

which is registered with registration no. MH-23-AU5046 vide agreement for loan and guarantee dated 20.03.2023 at Exhibit AW-1/3 in the list of documents Exh. 11.

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(D) The applicant Bank is entitled to sell the hypothecated vehicle/ articles/goods etc., to recover its dues.

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(E) Issue Recovery Certificate accordingly.

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(F) The Registrar is directed to send the copy of the Judgment and Recovery Certificate to the applicant and defendants.

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(G) File be consigned to the record room.

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Sd/-

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Pronounced in open court. Place: Aurangabad Date:.08.09. 2025

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(Dr. J. R. Chauhan) Presiding Officer Debts Recovery Tribunal, Aurangabad

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(OA No.513/2024)

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Page 7 of 7

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[AMBADAS]

Hdfc Bank v. Bramhadev Ankush Veer

Case brief

What is this about?

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Hdfc Bank v. Bramhadev Ankush Veer

Case brief

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