Allowed

Hdfc Bank v. Ghulam Mohammad Wani

DRT7 Apr 2025OA/66/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the bank's application for recovery of Rs.48,30,719/- with interest advanced as a term loan and converted fixed deposit. The court proceeded ex parte, directed issuance of a recovery certificate, and ordered sale of mortgaged land with proceeds distributed under a specific section of the RDB Act.

What did the court decide?

Recovery of Rs.48,30,719/- with interest; costs; issuance of Recovery Certificate; direction to sell mortgaged land.

Hdfc Bank versus Ghulam Mohammad Wani — Contract and Commercial Disputes | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH

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BEFORE: A S NARANG, PRESIDING OFFICER

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OA No: 66/2022 Date of Institution: 10.01.2022 Date of Decision: 07.04.2025

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HDFC Bank Limited having its branches all over India and a branch at First Floor, Reshi Building, Iqbal Market, Sopore, State J & K.

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……..Applicant Vs.

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Mr. Ghulam Mohammad Wani s/o Mr. Ramjan Wani, r/o 12, Chandkot, PO Kreeri, Tehsil Sopore, Distt. Baramulla, J & K.

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Mr. Mohammad Yusub Wani, s/o Mr. Shaban Wani, r/o 12, Chandkot, PO Kreeri, Tehsil Sopore, Distt. Baramulla, J & K.

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Mr. Mohammad Maqbul Butt, s/o Mr. Abdul Rahman Butt, r/o Chandkot, PO Kreeri, Tehsil Sopore, Distt. Baramulla, J & K. ……….Defendants

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Advocates

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Sh. Sumeet Sehgal, Counsel for the applicant bank. Defendants - ex parte .

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OA for the Recovery of Rs.48,30,719/- with interest @12% per annum with half-yearly rests from 10.01.2022.

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ORDER

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HDFC Bank Limited, (Bank) has filed this application under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993 (RDB Act) for the recovery of Rs.48,30,719/- with interest against Mr. Ghulam Mohammad Wani and others (defendants).

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Bank’s case is that on 29.05.2014, it had granted a CC Limit of Rs.19.50 Lacs and on 08.11.2016 as per the guidelines issued by the RBI bank had granted a Term Loan of Rs.5,30,911/- i.e. entire pending dues of CC account and all passed EMI unpaid dues, to defendant Nos. 1 and 2 for

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agricultural purpose. To secure the loan, Defendant No.1 had mortgaged his land (fully detailed in para No.3A of the application). Defendant No.3 stood as guarantor. The loan was chargeable to interest @12% per annum with half-yearly rests. On 29.10.2021, a sum of Rs.48,30,719/- was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.

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On 05.05.2022, summonses were sent to the defendants by registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 03.02.2023, 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. Jatinder Mishra, Assistant Manager along with the loan and security documents and marked them as Exhibit A-1 to A-16.

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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 CC Limit of Rs.19.50 Lacs and Term Loan of Rs.5,30,911/- and on 29.10.2021, a sum of Rs.48,30,719/- was due.

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Accordingly, the application of the bank for the recovery of Rs.48,30,719/- (Rupees Forty Eight Lacs Thirty Thousand Seven Hundred Nineteen Only) with interest @12% per annum with half-yearly rests from 10.01.2022, till the date of payment is hereby allowed with costs. The liability of all the defendants would be joint and several. Bank can recover its dues by the sale of mortgaged land 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 07.05.2025, who is directed to distribute the sale proceeds of the mortgaged land and standing crops as per the provisions of Section 19(20AB) 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: 07.04.2025 Presiding Officer DRT-1, Chandigarh

Hdfc Bank v. Ghulam Mohammad Wani

Case brief

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Hdfc Bank v. Ghulam Mohammad Wani

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