Allowed

Hdfc Bank Limited v. Sh. Parwinder Singh and Others

DRT28 Aug 2025OA/763/2025

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed an application by HDFC Bank for recovery of Rs. 23,19,812 from borrowers who failed to repay an agricultural loan. The court directed recovery of the principal along with uniform simple interest at 8% p.a. from the filing date and authorized recovery from mortgaged assets under SARFAESI Act provisions.

What did the court decide?

Allowance of recovery application for Rs. 23,19,812 with 8% p.a. simple interest; issuance of Recovery Certificate.

Hdfc Bank Limited versus Sh. Parwinder Singh and Others — Banking and Recovery | DRT (2025)

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DEBTS RECOVERY TRIBUNAL-III, CHANDIGARH

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ORIGINAL APPLICATION NO.763/2025

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PRESIDED OVER BY MRIDULESH KUMAR SINGH

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DATE OF INSTITUTION: 14.06.2025

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DATE OF DECISION: 28.08.2025

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HDFC Bank Ltd., a banking company, carrying on the banking business under the Banking Regulation Act, 1949 incorporated under The Companies Act, 1956 and having its Registered Office at HDFC BANK House, Senapati Bapat Marg, Lower Parel, Mumbai - 400013 and branch office amongst other places at Fatehgarh Panjtoor, District Moga, through Sh. Dinesh Kumar, Manager holder of an attorney from the Applicant.

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……..Applicant

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Versus

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Sh. Parwinder Singh S/o Sh. Pritam Singh, R/o Village Dharam Singh Wala, Tehsil Dharamkot, District Moga – 142042.

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Sh. Pritam Singh S/o Sh. Amir Singh R/o Village Dharam Singh Wala, Tehsil Dharamkot, District Moga – 142042.

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Sh. Jasvir Singh S/o Sh. Harjit Singh R/o Village Dharam Singh Wala, Tehsil Dharamkot, District Moga – 142042.

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….……Defendants

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Advocates:

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Argued by, Sh. Sumeet Sehgal, Advocate proxy for Sh. J.S. Sehgal, Advocate for Applicant

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Defendants already ex parte

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FINAL ORDER

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Present Original Application was instituted by the applicant under Section 19 of the Recovery of Debts & Bankruptcy Act, 1993, against the defendants for recovery of Rs.23,19,812.00p (Rupees Twenty Three Lacs Nineteen Thousand Eight Hundred Twelve Only). The Original Application has been filed through Sh. Dinesh Kumar, Manager o f the

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OA NO.763/2025 HDFC BANK LTD. VS SH. PARWINDER SINGH AND OTHERS

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applicant, who is competent to institute the Original Application vide Power of Attorney dated 17.01.2024, which is Annexure A1 to this OA. 2. The brief facts of the OA are that the defendant no.1 & 2 had approached the applicant for the grant of Agri. CC Limit of Rs.25.00 Lacs and Agri. Term Loan of Rs. 5.00 Lacs, vide loan application dated 12.06.2015, which is Annexure A2 to this OA. Defendant no. 3 stood as guarantor.

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The applicant sanctioned the of Agri.CC Limit of Rs.15.00 Lacs and vide Sanctioned letter dated 07.07.2015, which are Annexures A3 to this OA and the terms and conditions were duly accepted by the defendants. 4. Defendant no.1 & 2 had mortgaged their immovable properties i.e. total land measuring 64K- 12M situated at Village Dharam Singh Wala, Hadbast No. 189, Tehsil Dharamkot, District Moga vide Schedule Declaration under Section 4(1) dated 05.08.2015, which is Annexure A7 to this OA. Documents executed: - Agreement for Overdraft/Cash credit-cumguarantee-cum-hypothecation, Demand Promissory Note & Letter of Continuity for DP Note all dated 08.08.2015, which are Annexures A4 to A6 to this OA; Notice dated 06.12.2024 and Postal Receipts, which are Annexures A8 to A11 to this OA; Statement of Loan Account with Certificate regarding the Computer system, which is Annexure A12 to this OA. 5. The loan account became irregular and was classified as NPA and after adjusting debit and credit entries in both the loan account there was a debit of Rs.23,19,812.00p, which is recoverable and the defendants were served recall notices but they did not repay the outstanding amount, therefore, the applicant requested to accept the application and to issue Recovery Certificate accordingly.

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OA NO.763/2025 HDFC BANK LTD. VS SH. PARWINDER SINGH AND OTHERS

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The defendants were served notices to appear before this Tribunal but no one appeared on behalf of defendants and they were proceeded ex-parte on 05.08.2025. 7. In support of the OA, affidavit of Sh. Dinesh Kumar, Manager HDFC Bank Ltd., h as been filed.

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Heard ex-parte arguments and perused record.

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It was argued by learned proxy counsel that in view of the documentary evidence brought on record which had gone unrebutted, the applicant had proved its case. From the perusal of all the Annexures A1 to A12 to this OA, it is proved that the defendants approached applicant for availing of the loan facility which was granted to them and for that they had executed all the relevant documents in favour of the applicant. The defendants failed to pay back the loan as per terms and conditions of the agreement between the parties. Subsequently, account of the defendants was classified as NPA. From the documentary evidence brought on record, it is proved that applicant is entitled to recover a sum of Rs.23,19,812.00p (Rupees Twenty Three Lacs Nineteen Thousand Eight Hundred Twelve Only) along with interest from the defendants, jointly and severally from the date of filing of the present Original Application till realization of the account.

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In so far as pendent elite and future rate of interest is concerned, the applicant in relief clause has claimed interest @12.00%p.a. from 02.10.2024 till the realization.

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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

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OA NO.763/2025 HDFC BANK LTD. VS SH. PARWINDER SINGH AND OTHERS

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appropriate to grant uniform simple interest @8.00%p.a. in the loan account from the date of filing of the OA till realization of the amount ordered vide this final order. It is ordered accordingly. 11. In the result, the application is allowed declaring that the defendants are liable to pay to the applicant a total sum of Rs.23,19,812.00p (Rupees Twenty Three Lacs Nineteen Thousand Eight Hundred Twelve Only) jointly and severally, with costs, current and future simple interest @8.00%p.a. in the loan account from the date of filing of OA till the date of realization of the amount. Accordingly, the applicant shall be entitled to recover aforesaid amount from the sale of hypothecated/mortgaged properties of defendants in execution proceedings if not sold earlier under the provisions of the SARFAESI Act, 2002. If the dues of the applicant still remain unsatisfied, it shall be entitled to recover the same by attachment and sale of personal assets of the defendants. 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 24.09.2025. 15. Copy of this order be given dasti to the applicant and be sent to defendants 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: 28.08.2025 (MRIDULESH KUMAR SINGH) Presiding Officer, DRT-III, Chandigarh

Hdfc Bank Limited v. Sh. Parwinder Singh and Others

Case brief

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Hdfc Bank Limited v. Sh. Parwinder Singh and Others

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