Allowed

Hdfc Bank v. Sh. Ramandeep Singh

DRT13 May 2025OA/63/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the bank's application for recovery of an outstanding vehicle loan amount with interest against the borrower and guarantor, authorizing recovery from the hypothecated vehicle and other properties and directing issuance of a recovery certificate.

What did the court decide?

Recovery of Rs.28,06,547.48p with interest allowed; Recovery Certificate issued; Parties directed to appear before Recovery Officer.

Hdfc Bank versus Sh. Ramandeep Singh — Contract and Commercial Disputes | DRT (2025)

¶1

IN THE DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH

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BEFORE: A S NARANG, PRESIDING OFFICER

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OA No: 63 of 2022 Date of Institution: 12.01.2022 Date of Decision: 13.05.2025

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HDFC Bank, having its branches all over India and a branch at Retail Loan Service Centre, The Mall, Fourth Floor, Mall Road, Ludhiana, Punjab.

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……..Applicant

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Vs.

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Sh. Ramandeep Singh s/o Sh. Lakhvir Singh, r/o Sedha Singh wala, Near Bajakhana Road, Faridkot, Punjab.

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Sh. Nirpal Singh s/o Sh. Baldev Singh, r/o Tarksheel Chowk, Barnala, Punjab.

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……….Defendants

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Advocates

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Sh. K.P.S. Dhillon, Counsel for the applicant bank. Defendants- ex parte vide order dated 28.10.2022 .

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OA for the Recovery of Rs.28,06,547.48p with interest @11.01% per annum with monthly rests from 12.01.2022.

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ORDER

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HDFC Bank, (Bank) has filed this application under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993 (RDB Act) for the recovery of Rs.28,06,547.48p with interest against Sh. Ramandeep Singh and another (defendants).

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Bank’s case is that on 03.03.2017, it had granted a Vehicle loan of Rs.32.94 Lacs to defendant No.1. To secure the loan, Defendant No.1 had hypothecated his vehicle (Bharat Benz) bearing Chassis No. MEC2812CAHP037523 and Engine No.400951D0036590 and Regn No. RJ07GD0987, (fully detailed in para No.3A of the application).

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Defendant No.2 stood as guarantor. The loan was chargeable to interest @11.01% per annum with monthly rests. On 02.12.2021, a sum of Rs.28,06,547.48p was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.

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On 06.04.2022, summonses were sent to the defendants by registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 28.10.2022, they were proceeded ex parte .

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In order to prove its case, the Bank has placed on record the affidavit of Sh. Rajendra Prasad, Branch Manager along with the loan and security documents and marked them as Exhibit A-1 to A-7.

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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 total loan of Rs.32.94 Lacs and on 02.12.2021, a sum of Rs.28,06,547.48p was due.

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Accordingly, the application of the bank for the recovery of Rs.28,06,547.48p (Rupees Twenty Eight Lacs Six Thousand Five Hundred Forty Seven and Forty Eight Paise Only) with interest @11.01% per annum with monthly rests from 12.01.2022, till the date of payment is hereby allowed with costs. The liability of both the defendants would be joint and several. Bank can recover its dues by the sale of hypothecated vehicle fully detailed in para No.3A of the application as well as from the personal movable and immovable property(ies) of the defendants.

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Pending IAs, if any, stand disposed of.

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Recovery Certificate be issued accordingly.

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Parties are directed to appear before Recovery Officer on 13.06.2025 , who is directed to distribute the sale proceeds of the hypothecated vehicle 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: 13.05.2025 Presiding Officer DRT-1, Chandigarh MANOJ KALRA

Hdfc Bank v. Sh. Ramandeep Singh

Case brief

What is this about?

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Hdfc Bank v. Sh. Ramandeep Singh

Case brief

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