Allowed

Hdfc Bank Ltd. v. Sh. Manjinder Singh and Others

DRT28 Oct 2025OA/770/2025

Case brief

AI extract

What is this about?

The Tribunal allowed an Original Application filed by HDFC Bank Limited for recovery of dues of Rs. 46.12 Lakhs against borrowers and a guarantor who were absent. The application was permitted with interest at 8% p.a. and directions to issue a Recovery Certificate.

What did the court decide?

Recovery of Rs. 46,12,972.76 with costs and interest at 8% p.a. from borrowers and guarantor, with liberty to enforce via sale of mortgaged or personal assets.

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

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DEBTS RECOVERY TRIBUNAL-III, CHANDIGARH

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ORIGINAL APPLICATION NO.770/2025

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PRESIDED OVER BY MRIDULESH KUMAR SINGH

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DATE OF INSTITUTION: 06.06.2025

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DATE OF DECISION: 28.10.2025

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HDFC Bank Limited, incorporated under the Companies Act, 1956 and Bank within the meaning of the Banking Regulation Act, 1949 and having its Registered Office at HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai-400013 and its Regional Office at HDFC Bank Ltd., Bank House, Plot No I-15, Sector 101 Alpha, IT City, Mohali, District S.A.S. Nagar, Punjab 160062 and having one of its branch office at Killon Wali, District Muktsar (Punjab) through its Authorized Signatory Sh. Sandeep Kumar Garg.

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……..Applicant Versus

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Sh. Manjinder Singh Son of Sh. Gurdeep Singh, Resident of House No. 272, Village Killan Wali, Tehsil Malout, District Muktsar, Punjab-152211

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Smt. Manpreet Kaur Wife of Sh. Gurdeep Singh, Resident of House No. 272, Village Killan Wali, Tehsil Malout, District Muktsar, Punjab-152211

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Smt. Harpal Kaur Wife of Sh. Shamsher Singh, Resident of House No. 272, Village Killan Wali, Tehsil Malout, District Muktsar, Punjab-152211

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Sh. Sukhdeep Singh Son of Gurlabh Singh Resident of House No. 276, Village Killian Wali, Tehsil Malout, District Muktsar, Punjab-152211

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………Defendants

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Advocates:

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Argued by Ms. Seerat Sharma, Advocate proxy for Sh. Ankur Jindal, Advocate for the applicant

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Defendants already ex-parte

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FINAL ORDER

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OA NO.770/2025 HDFC BANK LTD. VS MANJINDER SINGH AND OTHERS

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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.46,12,972.76p (Rupees Forty Six Lacs Twelve Thousand Nine Hundred Seventy Two & Seventy Six Paise Only). The Original Application has been filed through Sh. Sandeep Kumar Garg, Authorized Signatory of the applicant, who is competent to institute the Original Application vide Power of Attorney dated 17.01.2024, which is Annexure A1 to this OA.

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The brief facts of the OA are that the defendant nos. 1 to 3 had approached the applicant for grant of Agri. CC Limit of Rs.34.00 Lacs vide Application for loan moved by the borrowers dated 16.04.2014, which is Annexure A2 to this OA. Defendant no. 4 stood as guarantor. 3. The applicant sanctioned Agri CC Limit of Rs.34.00 Lacs vide Sanction letter dated 24.04.2014, which is Annexure A3 to this OA and the terms and conditions were duly accepted by the defendants. 4. Defendant nos.1 to 3 had mortgaged their immovable properties i.e. land measuring 49K-00M situated at Village Killianwali, Tehsil Malout, District Muktsar, Punjab vide Mortgaged Deed bearing vasika no.683 dated 25.04.2014, which is Annexure A4 to this OA; Confirmation letter of mortgage by Advocate dated 06.05.2014, which is Annexure A5 to this OA. Documents executed :- Agreement for cash credit facility dated 24.04.2014, which is Annexure A6 to this OA; Demand Promissory Note, Letter of continuity for DP Note, both dated 05.05.2014, which are Annexures A7 & A8 to this OA; Statements of account along with certificate, which are Annexures A9 & A10 to this OA; Legal notice dated 26.12.2024, which is Annexure A11 to this OA and Postal receipts dated 27.12.2024, which are Annexures A12 to A15 to this OA. 5. The loan account became irregular and was classified as NPA and after adjusting debit and credit entries in loan account there was a debit of Rs.46,12,972.76p, which is recoverable and the defendants were served recall notice but defendants did not repay the outstanding

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3 OA NO.770/2025 HDFC BANK LTD. VS MANJINDER SINGH AND OTHERS

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amount, therefore, the applicant requested to accept the application and to issue Recovery Certificate accordingly.

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The defendant was served notices to appear before this Tribunal but no one appeared on behalf of defendant and he was proceeded exparte on 22.10.2025.

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In support of the OA, affidavit of Sh. Manoj Kaushik, Chief Manager, State Bank of India, has been filed. 8. 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 A15 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.46,12,972.76p (Rupees Forty Six Lacs Twelve Thousand Nine Hundred Seventy Two & Seventy Six Paise 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 pendente lite and future rate of interest is concerned, the applicant in relief clause has claimed interest @12.00%p.a. interest from 01.10.2024 till the realization. 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

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4 OA NO.770/2025 HDFC BANK LTD. VS MANJINDER SINGH AND OTHERS

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just and appropriate to grant uniform simple interest @08.00%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.46,12,972.76p (Rupees Forty Six Lacs Twelve Thousand Nine Hundred Seventy Two & Seventy Six Paise 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 the 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.

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12. Any other application pending stands disposed of . 13. Issue Recovery Certificate accordingly.

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Parties to appear before Learned Recovery Officer of this Tribunal on 07.11.2025. 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.

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Pronounced by me in the open Tribunal .

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Dated: 28.10.2025

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(MRIDULESH KUMAR SINGH)

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Presiding Officer, DRT-III, Chandigarh

Hdfc Bank Ltd. v. Sh. Manjinder Singh and Others

Case brief

What is this about?

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Hdfc Bank Ltd. v. Sh. Manjinder Singh and Others

Case brief

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