Allowed

Hdfc Bank v. M/s Jaiswal and Sons

DRT3 Dec 2025OA/904/2023

Case brief

AI extract

What is this about?

The Tribunal allowed an original application filed by the applicant bank under the RDB Act for recovery of dues of Rs. 1,54,29,301.50 from the respondents. The application proceeded ex-parte as the defendants failed to appear. The court directed payment within 30 days, with recovery via sale of mortgaged property in case of default.

What did the court decide?

Directed defendants to pay Rs. 1,54,29,301.50 with interest and costs within 30 days; recovery from sale of mortgaged property if unpaid.

Hdfc Bank versus M/s Jaiswal and Sons — Money Laundering | DRT (2025)

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O.A. No. 904 of 2023

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Debts Recovery Tribunal-I, Delhi 4th floor, Jeevan Tara Building, Parliament Street, New Delhi

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Presiding Officer: Shri Govind Ballabh Sharma

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O.A. No.904 of 2023

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HDFC Bank Ltd.

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Retail Assets Collection

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1st Floor, Tower A, Plot no.31

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Najafgarh Industrial area, Shivaji Marg Moti Nagar, New Delhi-110015

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Applicant

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Versus

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M/s Jaiswal & Sons

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Through its partners R-64A, Ramesh Park

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Laxmi Nagar, Delhi-110092

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Also at:

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M/s Jaiswal & Sons

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E-2/71, 2nd floor, 30 feet Road,

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Chanakya Place, New Delhi-110059

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Sh.Manoj Kumar s/o Sh. Ashok Kumar (Partner/Guarantor)

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House no.B-608, Katyayani Apartment

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Plot no.8, Sector-61 Dwarka, New Delhi-110075

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Also at:

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Sh.Manoj Kumar s/o Sh. Ashok Kumar R-64A, Ramesh Park Laxmi Nagar, Delhi-110092

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Also at:

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Sh.Manoj Kumar s/o Sh. Ashok Kumar E-2/71, 2nd floor, 30 feet Road, Chanakya Place, New Delhi-110059

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Ms. Anita w/o Sh. Manish (Partner/Guarantor/Mortgagor) Plot no.106, 3rd Floor, D-Block, Sector-8, Dwarka, New Delhi-110075

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O.A. No. 904 of 2023

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Also at:

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Ms. Anita w/o Sh. Manish RZE-17, Mahavir Enclave Part-1, New Delhi-110080

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Also at:

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Ms. Anita w/o Sh. Manish R-64A, Ramesh Park Laxmi Nagar, Delhi-110092

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Also at:

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Ms. Anita w/o Sh. Manish E-2/71, 2nd Floor, 30 feet Road, Chanakya Place, New Delhi-110059

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YES Bank

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Upper Ground, First floor & second floor Block-1, West Patel Nagar New Delhi-110008

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Also at:

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Plot no.C, Max Towers Fifth floor, 001/A/1, Sector-16B Noida, Uttar Pradesh-201301 Defendants

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Present: Mr. Manish Verma, Counsel for the applicant bank

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Date of Reserve: 10.11.2025

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Date of Pronouncement:03.12.2025

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FINAL ORDER

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This original application has been filed by the applicant bank on 22.11.2023 through Sh.Bhuwan Singh, authorized representative of the applicant bank under Section 19 of Recovery of Debts and Bankruptcy Act, 1993 against the defendants for recovery of a sum of Rs.1,54,29,301.50 (Rupees One Crore Fifty Four Lacs Twenty Nine Thousand Three Hundred One & paisa Fifty only) as on 04.10.2023 along with

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sd-

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O.A. No. 904 of 2023

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pendentelite and future interest @9.45% per annum from 04.10.2023 till the date of realization along with costs.

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The brief facts of the case are that on the request of the defendant no.1 through its partners, the applicant bank sanctioned Cash Credit facility for a sum of Rs.1,60,00,000/on 20.02.2020 for trading, manufacturing and export of all kind of garments, fabrics shoes etc. against hypothecation of stock and mortgaged property of defendant no.3 who stood as guarantor for the credit facility. The defendant no.4 has been impleaded claiming their rights on the mortgaged property which is mortgaged with the applicant bank.

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In order to avail the credit facility, the defendant no.1 through its partner/guarantor submitted loan application and executed Master Facility Agreement, Deed of Hypothecation, Power of Attorney on 20.02.2020 in favour of the applicant bank.

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In order to secure the loan facility, the defendant no.3 created equitable mortgage of property bearing Plot no.106, 175 square meters of entire Third Floor, D-Block, Sector-8, Dwarka, New Delhi by depositing original title documents on 20.02.2020.

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It has been submitted by the applicant bank that after availing the aforesaid loan facility, the defendants no.1 to 3 failed to comply with the terms and conditions of sanction and failed to regularize the account with the applicant bank. Ultimately, the applicant bank terminated the agreement and issued recall notice dated 18.10.2023 but defendants failed to regularize the account and hence the applicant bank has approached this Tribunal for recovery of their dues.

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O.A. No. 904 of 2023

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It has been submitted by the applicant bank that during visit by officials of applicant bank to the mortgaged property on 13.09.2023, it was found that defendant no.4 put their locks claiming right over the property which is already mortgaged with applicant bank. The applicant bank is in possession of original title documents and seems that defendant no.4 is claiming right on the strength of forged documents. The mortgaged property has been registered under CERSAI portal as on 22.01.2019

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Notices of this O.A. were issued to the defendants and despite of proper service, the defendants have chosen to absent from the proceedings. As per order dated 16.07.2025, the defendants have been proceeded ex-parte as not appeared before the Tribunal and even written statement, evidence and affidavit of assets have not been filed by the defendants.

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In order to prove its case, the applicant bank has filed its evidence by way of affidavit of Sh. Bhuwan Singh, authorized representative of the applicant bank, who has proved the documents such as Board Resolution, Loan Application Form, Copies of PAN Cards and Aadhar Cards, Master Facility Agreement, Deed of Hypothecation, Letter of Continuing Guarantee, Power of Attorney, Memorandum recording past transactions of Creation of Mortgage by Delivery of Title Deeds, Sanction Letter, Sale Deed, CERSAI Search Report, Loan Recall Notice, Postal Receipts, Speed Post tracking report, Certificate under Section 65-B of Indian Evidence and Certificate under Section 2A of Banker Books Evidence Act marked as Ex.AW-1/1 to Ex.AW-1/16.

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The applicant bank has fully corroborated the averments made in the O.A. Even otherwise the whole case of the

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O.A. No. 904 of 2023

applicant bank is based on the documents and the same have been duly approved.

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The case filed by the applicant bank gone unrebutted and there is no question of disbelieving the case of the applicant bank and the applicant bank has proved its case beyond reasonable doubts.

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11.. In the light of the above discussions, the Original Application deserves to be allowed.

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ORDER

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I, allow this OA and direct the defendant no.1 to 3 to pay to the applicant bank, jointly or severally, within a period of 30 days, a sum of Rs.1,54,29,301.50 (Rupees One Crore Fifty Four Lacs Twenty Nine Thousand Three Hundred One and paisa Fifty only) together with pendentelite and future interest @9.45% per annum with monthly rests from 04.10.2023 till the date of realization and costs; failing which the aforesaid amount shall be recovered from the sale of hypothecated stock, mortgaged property i.e. Plot no.106, Third floor, D-Block, Sector-8, Dwarka, New Delhi-110075. In case of shortfall, the same shall be recovered from the sale of movable and immovable properties of the defendant.

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(II) The recovery certificate be issued forthwith and be sent to the Recovery Officer, Debt Recovery Tribunal-I, Delhi.

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(III) Parties are directed to appear before the Recovery Officer, DRT I, Delhi on 02.02.2026.

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O.A. No. 904 of 2023

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(IV) Copies of final order as well as Recovery Certificate be sent to all concerned free of cost.

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(GOVIND BALLABH S ARMA) PRESIDING OFFICER DRT-I, DELHI

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(Dictated and pronounced in open court)

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' Dated: 03.12.2025

Hdfc Bank v. M/s Jaiswal and Sons

Case brief

What is this about?

What did the court decide?

Hdfc Bank v. M/s Jaiswal and Sons

Case brief

What is this about?

What did the court decide?

What the court decided

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Issues for consideration

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