Allowed

Hdfc Bank Limited v. Vikash Jijaniya and Others

DRT11 Sept 2025OA/932/2024

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the Big 4bank's application for recovery of Rs.35.30 lakhs against three defendants. Confined ex parte hearing, the court awarded uniform simple interest at 8.00%p.a. and authorized recovery via hypothecated vehicles or attachment of personal assets.

What did the court decide?

Recovery of Rs.35,30,488.18p with costs and interest @8.00%p.a. from date of filing; recovery via sale of mortgaged vehicles or attachment of personal assets.

Hdfc Bank Limited versus Vikash Jijaniya and Others — Banking and Recovery | DRT (2025)

¶1

DEBTS RECOVERY TRIBUNAL-III, CHANDIGARH

¶2

ORIGINAL APPLICATION NO.932/2024

¶3

PRESIDED OVER BY MRIDULESH KUMAR SINGH

¶4

DATE OF INSTITUTION: 18.07.2024

¶5

DATE OF DECISION: 11.09.2025

¶6

HDFC Bank Ltd., having its registered office at Senapati Bapat Marg, Lower Parel –(West), Mumbai -400013 and also at Plot No. 1-15, Sector 101, ALPHA IT City, SAS Nagar (Mohali) through its Authorized Representative Sh. Rajendra Prasad.

¶7

……..Applicant

¶8

Versus

¶9

Sh. Vikas Jijaniya S/o Sh. Jai Parkash, R/o Near Gurdwara Sahib, Sahnewal Khurd, Ludhiana (Punjab) – 141120.

¶10

Sh. Harbhajan Singh S/o Sh. Pritam Singh R/o ROR Majari, Village Hambowal, Tehsil Samrala, District Ludhiana (Punjab) -141115.

¶11

Sh. Raghbir Singh S/o Sh. Bakshish Singh R/o Village Puranewala, District Moga – 142054.

¶12

….……Defendants

¶13

Advocates:

¶14

Argued by Ms. Pinki, Advocate proxy for Ms. Dipti Toni, Advocate for Applicant

¶15

Defendants already ex parte

¶16

FINAL ORDER

¶17

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.35,30,488.18p (Rupees Thirty Five Lacs Thirty Thousand Four Hundred Eighty Eight and Paise Eighteen Only). The Original Application has been filed through Sh. Rajendra Prasad, Authorized Officer o f the applicant, who is competent to institute the Original Application vide Board Resolution dated 15.04.2023, which is Annexure A1 to this OA.

¶18

The brief facts of the OA are that the defendant nos. 1 and 2 had approached the applicant for the grant of Vehicles Loan of Rs.26.50 Lacs

¶19

¶20

OA NO.932/2024 HDFC BANK LIMITED VS SH. VIKASH JIJANIYA AND OTHERS

¶21

and Rs.40.50 Lacs for purchase of commercial vehicles vide Loan Application Forms dated 28.12.2018 and 23.11.2021, which are Annexures A2 & A3 to this OA. Defendant no. 3 stood as guarantor. Further, defendant no. 1 had approached the applicant for grant of Working Capital Term Loans (WCTL) of Rs.4.62 Lacs and of Rs.2,46,200.00 under GECL.

¶22

The applicant sanctioned the Vehicle Loan of Rs.27,48,815.00 and of Rs.40,99,230.00 for purchase of commercial vehicles. Further, the applicant sanctioned Working Capital Term Loan (WCTL) of Rs.4.62 Lacs under GECL vide Sanction Letter dated 15.09.2020 which is Annexures A6 to this OA and thereafter, sanctioned another Working Capital Term Loan (WCTL) of Rs.2,46,200.00 under GECL vide Sanction Letter dated 21.07.2022 which is Annexures A7 to this OA the terms and conditions were duly accepted by the defendants.

¶23

Defendant nos. 1 and 2 had hypothecated their movable properties i.e. (i) Commercial Vehicle namely “TATA LPT 3118” bearing Registration No. PB10GZ5079, Engine No. S1K84833313 and Chassis No. MAT466622J5N28620. (ii) Commercial Vehicle namely “SIGNA 4825 BSVI” bearing Registration No. PB10HS5010, Engine No. 7B6A250D02112J64169977 and Chassis No. MAT820006M1J20297. Documents executed: - Agreement for Loan and Guarantee dated 01.01.2019 and 27.12.2021, which are Annexures A4 & A5 to this OA; Facility cum-hypothecation Agreement, Supplemental Letter of Continuing Guarantee and Declaration-cum-Undertaking, all dated 15.09.2020, which are Annexures A8 to A10 to this OA; Supplemental Declaration-cum-Undertaking, Supplemental Undertaking, Supplemental Facility cum-hypothecation Agreement and Supplemental Letter of Continuing, all dated 21.01.2022, which are Annexures A11

¶24

¶25

OA NO.932/2024 HDFC BANK LIMITED VS SH. VIKASH JIJANIYA AND OTHERS

¶26

to A14 to this OA; Legal Notice dated 17.05.2024, along with postal receipts, which are Annexures A15 to A18 to this OA and Statement of Accounts, which are Annexures A19 & A20 to this OA.

¶27

The loan accounts became irregular and were classified as NPA and after adjusting debit and credit entries in both the loan accounts there was a debit of Rs.35,30,488.18p, 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.

¶28

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 25.08.2025.

¶29

In support of the OA, affidavit of Sh. Rajendra Prasad, Authorized Representative Officer HDFC Bank Ltd., h as been filed. 8. Heard ex-parte arguments and perused record. 9. 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 A20 to this OA, it is proved that the defendants approached applicant for availing of the loan facilities which were 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 loans as per terms and conditions of the agreement between the parties. Subsequently, accounts of the defendants were classified as NPA. From the documentary evidence brought on record, it is proved that applicant is entitled to recover a sum of Rs.35,30,488.18p (Rupees Thirty Five Lacs Thirty Thousand Four Hundred Eighty Eight and Paise Eighteen Only) along with interest from the defendants, jointly and severally from the date of filing of the present Original Application till realization of the accounts.

¶30

¶31

OA NO.932/2024

¶32

HDFC BANK LIMITED VS SH. VIKASH JIJANIYA AND OTHERS

¶33

In so far as pendent elite and future rate of interest is concerned, the applicant in relief clause has claimed interest @9.25% p.a. from 16.05.2024 till the realization.

¶34

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/hypothecated assets, 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 all 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.

¶35

In the result, the application is allowed declaring that the defendants are liable to pay to the applicant a total sum of Rs.35,30,488.18p (Rupees Thirty Five Lacs Thirty Thousand Four Hundred Eighty Eight and Paise Eighteen Only) jointly and severally, with costs, current and future simple interest @8.00%p.a. in all the loan accounts 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 vehicles 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.

¶36

12. Any other application pending stands disposed of .

¶37

Issue Recovery Certificate accordingly.

¶38

¶39

OA NO.932/2024 HDFC BANK LIMITED VS SH. VIKASH JIJANIYA AND OTHERS

¶40

Parties to appear before Learned Recovery Officer of this Tribunal on 03.10.2025.

¶41

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 .

¶42

Dated: 11.09.2025

¶43

(MRIDULESH KUMAR SINGH) Presiding Officer, DRT-III, Chandigarh

Hdfc Bank Limited v. Vikash Jijaniya and Others

Case brief

What is this about?

What did the court decide?

Hdfc Bank Limited v. Vikash Jijaniya and Others

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

Coram

Case details

Similar cases

Punjab National Bank versus Messrs Sharman Woollens and Others

Punjab Gramin Bank versus Mangal Singh

Union Bank of India versus Nitin Kumar and Another

Icici Bank Limited versus Shiv Kumar

Punjab National Bank versus Messrs Sudiksha Manufacturing and Online Service and Another

State Bank of India versus Kapoor Singh