Allowed

Hdfc Bank v. Castle Distributors Pvt. Ltd.

DRT13 Jun 2025OA/97/2022

Case brief

AI extract

What is this about?

The Tribunal allowed the recovery application filed by HDFC Bank Ltd. for recovery of Rs. 15,80,57,963.39 with interest. The debt was secured by hypothecation and mortgage. A recovery certificate was directed under Section 19(22).

What did the court decide?

Recovery certificate to be issued for Rs. 15,80,57,963.39 plus interest; parties directed to appear before Recovery Officer for realization.

Hdfc Bank versus Castle Distributors Pvt. Ltd. — Contract and Commercial Disputes | DRT (2025)

¶1

BEFORE THE DEBTS RECOVERY TRIBUNAL-I KOLKATA

¶2

PRESENT: -SHRI AMBUJA MOHAN DAS PRESIDING OFFICER

¶3

O.A. No. 97 of 2022

¶4

DATE OF DELIVERY OF ORDER : 13^th June,2025

¶5

HDFC Bank Limited , a company incorporated under the Companies Act, 1956 carrying on banking business under License granted by Reserve Bank of India and registered under Banking Regulation Act, 1949 having its Registered Office at HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai – 400013 and amongst others, one of its offices at Jardine House, 1^st Floor, 4, Clive Row, P.S. Hare Street, Kolkata – 700001.

¶6

.............APPLICANT

¶7

versus –

¶8

1. CASTLE DISTRIBUTORS PVT. LTD., a company registered under the Companies Act 1956, having its Registered Office at Green Plaza, 67, Maharshi Debendra Road, 4^th Floor, Room No. 401, Kolkata – 700 006.

¶9

2. SANJAY KUMAR KEJRIWAL (DIRECTOR/GUARANTOR), son of Late Shyam Sundar Kejriwal, residing and/or carrying on business at (a) Club Town, Flat No. 3/2D, Tegharia, Kolkata – 700 059 (b) Green Plaza, 67, Maharshi Debendra Road, 4^th Floor, Room No. 401, Kolkata – 700 006.

¶10

3. POONAM KEJRIWAL (DIRECTOR/GUARANTOR), wife of Sanjay Kumar Kejriwal, residing and/or carrying on business at (a) Club Town, Flat No. 3/2D, Tegharia, Kolkata – 700 059 (b) Green Plaza, 67, Maharshi Debendra Road, 4^th Floor, Room No. 401, Kolkata – 700 006.

¶11

4. KOHINOOR INFRA PROJECT PVT. LTD. (GUARANTOR), a company registered under the Companies Act, 1956 having its Registered Office at Green Plaza, 67, Maharshi Debendra Road, 4^th Floor, Room No. 401, Kolkata – 700 006.

¶12

...........DEFENDANTS

¶13

Counsel for the Applicant Bank : Mr. Rajeev Maity &

Ms. Kuheli Deb

Rina S.

Counsel for the Defendants : None appears.

¶18

Set ex-parte on 10.01.2025.

¶19

J U D G M E N T

¶20

The present Recovery Application is filed by the HDFC Bank Ltd., carrying on business of Banking all over India including from its Branch Office at Jardine House, 1^st Floor, 4, Clive Row, P.S. Hare Street, Kolkata – 700001 for recovery of Rs.15,80,57,963.39p., with interest @ 18% p.a. with monthly rest from 1.2.2022 against the Defendants till payment and/or realization. The Defendants are the borrower/guarantor/ mortgager.

¶21

The service of summons was effected upon the Defendants in usual mode of postal service. The Defendants appeared through their Advocate. Despite giving sufficient time, subsequently the Defendants neither appeared nor filed the Written Statement to controvert the claim of the Bank. Hence, the defendants are declared exparte on 10.1.2025.

¶22

The Applicant in support of its contention filed Evidence on Affidavit duly affirmed by Mr. Debojit Mukherjee, authorised signatory of the applicant bank, annexing the various documents which are exhibited.

¶23

I have perused the documents and Evidence and heard the Ld. Advocate for the Bank. By the said evidence on affidavit the Applicant could prove its claim and documents. The claim of the Bank is within the limitation and within the jurisdiction of this Tribunal. Hence, the claim of the Bank should be allowed with cost. In the above circumstances it is ordered :

¶24

O R D E R

¶25

i) Claim of the Applicants is allowed with cost.

¶26

ii) The Defendants are jointly and severally liable to pay Rs.15,80,57,963.39p., with interest @ 18% p.a. with monthly rest from 1.2.2022 against the Defendants till payment or realization.

¶27

iii) It is declared that the claim is secured by hypothecation of moveable and mortgage of immoveable property described in the Schedule of immoveable property as described in the Schedule in the OA at page 46 & 47.

¶28

¶29

Rina S.

¶30

iv) Let, a certificate be issued accordingly.

¶31

v) Ld. Recovery Officer shall realize the amount as per the Recovery Certificate from the defendants in accordance with law.

¶32

vi) Ld. Registrar of this Tribunal is directed to deliver recovery certificate in term of the final order/judgment for recovery of the sum against the defendants in favour of the Applicant Bank under Section 19 (22) of the Recovery of Debts due to the Bank and Financial Institutions Act, 1993 now known as Recovery of Debts and Bankruptcy Act, 1993.

¶33

vii) The parties are directed to appear before the Recovery Officer-1 on 16/07/2025 for further action in accordance with law in the event the entire amount is not paid by the said date.

¶34

Accordingly, the Original Application being O.A. No. 97 of 2022 is allowed and stands disposed of. All the IAs, filed in connection with this OA, are also disposed of.

¶35

Copy of the Judgment/Final Order be uploaded in the Tribunal’s website.

¶36

File be consigned to the Record Room.

¶37

(Dictated to P.S., transcribed by her, corrected, signed and pronounced by me in the open Court on this the day 13^th June,2025)

¶38

Place : Kolkata ( Ambuja Mohan Das ) Date : 13^th June,2025 Presiding Officer

¶39

¶40

Rina S.

¶41

Page No.-	Order Sheet (continuation)
Case No. OA	97 of 2022 HDFC BANK LIMITED –VS- CASTLE DISTRIBUGTORS PVT. LTD. & ORS.
Date of the order	Order with signature Office action with date and dated signature of parties when necessary
13^th June,2025	Ld. Advocates, Mr. Rajeev Maity and Ms. Kuheli Deb, appeared for the Applicant Bank. None appeared on behalf of the Defendants. Matter was heard in open Court on 10.01.2025. The detailed order in three pages annexed separately. The gist of the order is as follows: O R D E R i)Claim of the Applicants is allowed with cost. ii)The Defendants are jointly and severally liable to pay Rs.15,80,57,963.39p., with interest @ 18% p.a. with monthly rest from 01.02.2022against the Defendants till payment or realization. iii)It is declared that the claim is secured by hypothecation of moveable and mortgage of immoveable property described in the Schedule of immoveable property as described in the Schedule in the OA at page 46 & 47. iv)Let, a certificate be issued accordingly. v)Ld. Recovery Officer shall realize the amount as per the Recovery Certificate from the defendants in accordance with law. vi)Ld. Registrar of this Tribunal is directed to deliver recovery certificate in term of the final order/judgment for recovery of the sum against the defendants in favour of the Applicant Bank under Section 19 (22) of the Recovery of Debts due to the Bank and Financial Institutions Act, 1993 now known as Recovery of Debts and Bankruptcy Act, 1993. vii) The parties are directed to appear before the Recovery Officer-I on 16/07/2025 for further action in accordance with law in the event the entire amount is not paid by the said date. Accordingly, the Original Application being O.A. No. 97 of 2022 is allowed and stands disposed of. All the IAs, filed in connection with this OA, are also disposed of. Copy of the Judgment/Final Order be uploaded in the Tribunal’s website. File be consigned to the Record Room.

¶42

¶43

Rina S.

¶44

(Dictated to P.S., transcribed by her, corrected, signed and pronounced by me in the open Court on this the day 13^th June,2025)

¶45

Place : Kolkata (Ambuja Mohan Das) Date : 13^th June,2025 Presiding Officer

¶46

¶47

Rina S.

Hdfc Bank v. Castle Distributors Pvt. Ltd.

Case brief

What is this about?

What did the court decide?

Hdfc Bank v. Castle Distributors Pvt. Ltd.

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

Celebrity Management Group Private Limited versus Uco Bank

Bank of India versus Ms Ruhini Rotopack

Piramal Capital and Housing Finance Limited versus Aditya Birla Housing Finance Limited

S R Textiles and Ors. versus Fullerton India Credit Company Ltd.

Ms Deecon India Pvt. Ltd. versus Canara Bank

Shri Mohit Bhukta and Anr. versus Punjab National Bank