The Tribunal allowed the bank's application under Section 19 RDBFI Act for recovery of nearly Rs.34.68 lakhs. It modified the claimed interest rate to 8% p.a. and issued a recovery certificate against the defendants and legal heirs.
Recovery of Rs.34,68,175 with 8% simple interest; issuance of Recovery Certificate; liberty to enforce via SARFAESI Act.
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.
DEBTS RECOVERY TRIBUNAL-III, CHANDIGARH
ORIGINAL APPLICATION NO.704/2023
PRESIDED OVER BYMRIDULESH KUMAR SINGH
DATE OF INSTITUTION: 19.05.2023
DATE OF DECISION: 10.07.2025.
HDFC Bank Ltd., a banking company carrying on banking business under the Banking Regulations Act, 1949 incorporated under the Companies Act, 1956 and having Registered Office at HDFC BANK House, Senapati Bapat Marg, Lower Parel, Mumbai -400013 whereas one of its Branch at ‘Dharamkot” District Moga, “(Punjab)” through Pooja Arora, Senior Manager (Agri. Legal) H.D.F.C. Bank Ltd., Ludhiana Branch District Ludhiana (Punjab) under Regional Office, Mohali District Mohali (Punjab) being Power of Attorney holder of the applicant.
……..Applicant
Advocates:
Argued by, Sh. Saurabh Bhardwaj, Advocate for Applicant (through VC) Defendants are ex parte
2
OA NO.704-2023
HDFC BANK LIMITED VS LATE SH. LABHPREET SINGH AND OTHERS
FINAL ORDER
b. land measuring 32K- 14M situated at Village Roshanwala, Hadbast no.273, Tehsil Dharamkot, District Moga (Punjab) Vide declaration u/s 4(1) dated 14.05.2018, and Letter to Sub Registrar for Creation of Charge, which is Annexure A7 to this OA. Documents executed: Agreement for overdraft/Cash Credit cum guarantee cum hypothecation, Agreement for Dropline cum guarantee cum hypothecation both dated 14.05.2018, which are Annexures A5 & A6 to this OA; Letter of acknowledgement dated 10.01.2020, which
3 OA NO.704-2023
HDFC BANK LIMITED VS LATE SH. LABHPREET SINGH AND OTHERS
is Annexure A8 to this OA; Legal notice dated 30.11.2022 along with
postal receipts, which is Annexure A9 to this OA and Statements of accounts with certificate, which are Annexures A10 & A11 to this
OA.
4 OA NO.704-2023
HDFC BANK LIMITED VS LATE SH. LABHPREET SINGH AND OTHERS
Eight Thousand One Hundred Seventy Five Only) along with interest from the legal heirs of deceased defendant no.1 and defendant nos.2 and 3, jointly and severally from the date of filing of the present Original Application till realization of the account.
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 loan 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.
5 OA NO.704-2023
HDFC BANK LIMITED VS LATE SH. LABHPREET SINGH AND OTHERS
legal heirs of deceased defendant no.1 and defendant nos.2 and 3. The applicant is at liberty to enforce the claim through due process of law. 12. Any other application pending stands disposed of . 13. Issue Recovery Certificate accordingly. 14. Parties to appear before Learned Recovery Officer of this Tribunal on 30.07.2025. 15. Copy of this order be given dasti to the applicant and be sent to legal heirs of deceased defendant no.1 and defendant nos.2 and 3 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: 10.07.2025. (MRIDULESH KUMAR SINGH) Presiding Officer, DRT-III, Chandigarh
2 issues framed by the court
Whether the application for recovery of agricultural dues was maintainable and the defendants liable to repay.
Whether the Tribunal could modify the claimed interest rate despite the banking claim.
2 provisions across 2 enactments
HDFC Bank Ltd.
Baljeet Kaur
Hargunpreet Kaur
Sukhwinder Kaur
Swarn Singh
Nachatar Singh
Mridulesh Kumar Singh
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
