Allowed

Hdfc Bank Ltd. v. Sh. Jaswant Singh Alias Jassa and Another

DRT27 Aug 2025OA/958/2022

Case brief

AI extract

What is this about?

The DRT allowed the bank's application for recovery of a defaulting agricultural loan. The court declared the defendants liable to pay the principal sum plus interest at 8% p.a. and ordered issuance of a Recovery Certificate.

What did the court decide?

Declared defendants liable to pay Rs. 46,07,476.00 plus interest at 8% p.a.; issued Recovery Certificate; liberty granted to enforce claim through SARFAESI Act.

Hdfc Bank Ltd. versus Sh. Jaswant Singh Alias Jassa and Another — Banking and Recovery | DRT (2025)

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DEBTS RECOVERY TRIBUNAL-III, CHANDIGARH

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ORIGINAL APPLICATION NO.958/2022

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PRESIDED OVER BY MRIDULESH KUMAR SINGH

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DATE OF INSTITUTION: 08.06.2022

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DATE OF DECISION: 27.08.2025

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HDFC BANK Ltd., a Banking Company, carrying on banking business under the Banking Regulations Act,1949 incorporated under The Companies Act,1956 and having its registered office at HDFC BANK House, Senapati Bapat Marg, Lower Parel, Mumbai-400013, whereas branch amongst others places at “Malout Branch, District Muktsar (Punjab)” through Parampreet Singh Khalon, Assistant Manager (Agri.Legal), HDFC Bank Ltd., Regional Office, Chandigarh being Power of Attorney holder of the applicant.

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… …..Applicant Versus

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Sh. Jaswant Singh @ Jassa S/o Sh. Karnail Singh, since deceased through his Legal Heirs/legal Representatives detailed as under: -

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a. Smt.Harpal Kaur W/o Late Sh. Jaswant Singh, R/o House No.236/1, Village Chhapian Wali, Tehsil Malout, District Muktsar (Punjab)-152107.

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b. Sh. Harkirat Singh S/o Late Sh. Jaswant Singh, R/o House No.236/1, Village Chhapian Wali, Tehsil Malout, District Muktsar (Punjab)-152107.

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Sh. Harkirat Singh, S/o Sh. Jaswant Singh, R/o House No.236/1, Village Chhapian Wali, Tehsil Malout, District Muktsar (Punjab)- 152107.

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….……Defendants

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Advocates:

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Argued by Sh. Chirag Bhagat, Advocate proxy for Sh. Saurabh Bharadwaj Advocate for Applicant Defendants are 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 Due to Banks and Bankruptcy Act, 1993, against the defendants for recovery of

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2 OA/958/2022 HDFC BANK LTD. VS SH. JASWANT SINGH ALIAS JASSA AND ANOTHER

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Rs.46,07,476.00p (Rupees Forty-Six Lacs Seven Thousand Four Hundred Seventy-Six only). The Original Application has been filed through Parampreet Singh Khalon, Assistant Manager (Agri.Legal), o f the applicant, who is competent to institute the Original Application vide Power of Attorney dated 16.12.2020, which is Annexure A1 to this OA.

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The brief facts of the OA are that the deceased defendant no. 1 and the defendant no. 2 had approached the applicant for the grant of Agri.CC Limit (KCC) of Rs.10.00 Lacs & Agri. Term Loan of Rs.9.90 Lacs vide Application form dated 29.01.2015, which is Annexure A2 to this OA.

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The applicant sanctioned Agri. CC Limit of Rs.10.00 Lacs & Agri. Term Loan of Rs.9.90 Lacs vide Sanction Letters dated 02.02.2015, which are Annexures A3 & A4 to this OA and the terms and conditions were duly accepted by the defendants. 4. Deceased Defendant no.1 had mortgaged his immovable properties i.e. total Land Measuring 24kanal-00Marla situated at Village Chhapianwali, Tehsil Malout, District Muktsar, Punjab, vide Declaration u/s 4(1) dated 13.02.2025 and Letter dated 13.02.2015 to Sub Registrar for Bank’s charge/Rapat for mortgage of agriculture land and confirmed vide rapat no. 302 dated 23.02.2015, along with its Translations, which is Annexure A10 to this OA. Documents executed: - DP Note, Letter of Continuity, Agreement for Term loan cum Guarantee cum Hypothecation, Agreement for Over Draft/Cash credit cum Guarantee cum Hypothecation all 23.02.2015, which are Annexures A5 to A9 to this OA; Legal Notice dated 25.04.2022 along with postal Receipts, which is Annexure A11 to this OA and Statements of all Accounts along with Certificate, which are Annexures A12 & A13 to this OA.

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The loan accounts became irregular and were classified as NPA and after adjusting debit and credit entries in all the loan accounts there was a debit of Rs.46,07,476.00p, 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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3 OA/958/2022 HDFC BANK LTD. VS SH. JASWANT SINGH ALIAS JASSA AND ANOTHER

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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 05.08.2025.

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In support of the OA, affidavit of Sh. Parampreet Singh Khalon, Assistant Manager (Agri. Legal), HDFC Bank Ltd., 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 Annexure A1 to A13 to this OA, it is proved that the deceased defendant no. 1 and the defendant no. 2 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 bank. The defendants failed to pay back the loan 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.46,07,476.00p (Rupees Forty Six Lacs Seven Thousand Four Hundred Seventy Six 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.

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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 @11.75% p.a. along with 2%p.a. penal interest from 20.03.2022 till the realization.

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The Tribunal is of the considered opinion that sometimesinappropriate 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 defendant, 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 @08.00%p.a. in both the loan accounts from the date of filing of the

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4 OA/958/2022 HDFC BANK LTD. VS SH. JASWANT SINGH ALIAS JASSA AND ANOTHER

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OA till realization of the amount ordered vide this final order. It is ordered accordingly.

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In the result, the application is allowed declaring that the defendants are liable to pay to the applicant a total sum of Rs.46,07,476.00p (Rupees Forty Six Lacs Seven Thousand Four Hundred Seventy Six only) jointly and severally, with costs, current and future simple interest @8.00%p.a. in both 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/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 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.

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Issue Recovery Certificate accordingly.

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Parties to appear before Learned Recovery Officer of this Tribunal on 23.09.2025.

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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: 27.08.2025

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(MRIDULESH KUMAR SINGH)

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Presiding Officer, DRT-III, Chandigarh

Hdfc Bank Ltd. v. Sh. Jaswant Singh Alias Jassa and Another

Case brief

What is this about?

What did the court decide?

Hdfc Bank Ltd. v. Sh. Jaswant Singh Alias Jassa and Another

Case brief

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