The Applicant Bank recovered Rs. 26,75,893.10 plus future interest from the Defendants, who failed to repay a credit loan facility. The Tribunal also allowed recovery from the hypothecated vehicle and issued a recovery certificate.
Defendants directed to pay Rs. 26,75,893.10 plus future interest at 9% per annum simple from filing date. Recovery Certificate issued.
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.
Presented on: 23.03.2024 Registered on: 08.07.2024 Decided on: 28.10.2025 Duration: Y M D 01 03 20
IN THE DEBTS RECOVERY TRIBUNAL AT AURANGABAD
(Before Shri Dr. J. R. Chauhan Presiding Officer) ORIGINAL APPLICATION No.520/2024
TOTAL CLAIM AMOUNT – Rs. 26,75,893.10
HDFC Bank Ltd.
A Registered Company, Having its Registered Office at HDFC Bank House, Senapati Bapat Marg, Lower Parel, (West), Mumbai. And having its Branch office at Susundre Complex, Ajantha Road, Ambedkar Square, Sillod, Aurangabad- 431112. Through its Authorized Signatory and Power of Attorney Holder Shri.
… Applicant
(OA No.520-2024)
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[Ambadas]
Rahul S/o. Tatyasaheb Gade, Age: 41 Years, Occ.: Service, R/o. C/o. HDFC Bank Ltd., 1st
Floor, Renuka Commercial Complex, Nirala Bazar, Aurangabad. Mobile:-9421800308. E-mail:- [email protected]
Versus
Through its Proprietor,
Gangadhar Patilba Shejul,
Age: 51 Years, Occ. : Business, R/o. 1, Palshi, At Dhidgaon,
Tq. Sillod, District Aurangabad-431112
Mobile:-9823705669
PAN:-DZQPS5443P
(OA No.520-2024)
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[Ambadas]
Also
R/o. Jai Bhavani Nagar, Delhi Road, Sillod,
District Aurangabad- 431112.
Age: 42 Years, Occ. : Business/Homemaker, R/o. S.No. 361, P. No. 9, Jai Bhavani Nagar, Tq. Sillod, District Aurangabad- 431112
Mobile:-8823705669 PAN:-FEZPS3763E.
APPEARANCES For the Applicant Mr. Umesh N. Shete - Advocate For Defendants Ex-parte
J U D G M E N T Delivered on (28.10.2025)
(OA No.520-2024)
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[Ambadas]
Seventy Five Thousand, Eight Hundred Ninety Three and Ten Paisa Only) together with interest @10.50% on Credit Loan facility from 06.03.2024 till the full realization of the entire dues and costs from the Defendants.
Brief facts of the application are as under:
The agreed rate of Fixed interest for the Credit loan facility was @10.50% p.a. with monthly rests.
(OA No.520-2024)
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[Ambadas]
bank namely sanction letter, demand promissory note, request
letter, hypothecation agreement, letter of undertaking etc.
Description of Hypothecated Assets:-
Tata LPK 2523 is registered with the Registering Authority with an Endorsement of Hypothecated in favour of the Applicant Bank. The vehicle registered with registration
No. MH-20-EL-2419.
(OA No.520-2024)
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[Ambadas]
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 30.04.2021. Therefore, the applicant Bank issued legal notice to the Defendants through their Advocate on 19.07.2023. Despite service of Notice, the Defendants failed and neglected to repay the outstanding dues of the applicant Bank. Hence, this application is filed.
(OA No.520-2024)
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[Ambadas]
Bank. The applicant bank has also filed original documents as Exh. AW-1/1 to AW-1/6 along-with claim affidavit Exh.10 of Smita Manoj Ghadmode, authorized officer.
Hence, I pass the following order.
ORDER
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[Ambadas]
(B) The Defendants shall pay Jointly and Severally to the Applicant Bank a sum of Rs. 26,75,893.10 (Rs. Twenty Six Lakhs, Seventy Five Thousand, Eight Hundred Ninety Three and Ten Paisa Only) along-with future interest at @9% per annum (simple) from the date of filing of the Original Application, i.e., 23.03.2024, till full payment/ realization of the said amount.
Tata LPK 2523 is registered with the Registering Authority with an Endorsement of Hypothecated in
(OA No.520-2024)
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[Ambadas]
favour of the Applicant Bank. The vehicle registered
with registration No. MH-20-EL-2419.
Vehicles/ articles/goods etc., to recover its dues.
Sd/-
(Dr. J. R. Chauhan) Place : Aurangabad Presiding Officer Date : 28.10.2025 Debts Recovery Tribunal, Aurangabad
(OA No.520-2024)
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[Ambadas]
2 issues framed by the court
Whether the applicant bank is entitled to recover the outstanding loan amount along with interest upon the default of repayment by the borrowers.
Whether the adjudicated amount should be secured by the hypothecated vehicle as claimed by the applicant.
HDFC Bank Ltd.
Om Industries Stone Crasher
Gangadhar Patilba Shejul
Sunita Gangadhar Shejul
Dr. J. R. Chauhan
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
