The Debt Recovery Tribunal admitted the respondent's liability for the outstanding amount after counsel's submission. The court allowed partial payments, discharged the liability upon full settlement of dues, and disposed of the connected securitization application while reserving the bank's liberty to proceed in case of future default.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
Court of the Presiding Officer Debts Recovery Tribunal, Jaipur
Item No. 51
Case No.OA/1367/2025
HDFC BANK Vs M/S POWER SOLUTION
Date: 12.05.2026.
Proceedings through hybrid mode:
Present:
Ms. Saloni Agarwal, Counsel for the applicant
Shri R N Vijay, Counsel for the Defendant no. 1, 2 and 4
None for defendant no. 3
Item No. 40
Case No.SA/349/2026
MS POWER SOLUTION Vs HDFC BANK
Proceedings through hybrid mode:
Present:
Shri R N Vijay, Counsel for the applicant
Shri Vineet Sharma, Counsel for the Respondent
In this Original Application, summons were served to Ritika Vaswani through her husband, but she has chosen not to appear.
The connected Securitization Application is listed today at item no. 40. During the course of argument, when the matter of SA was taken up, it was submitted by the counsel for SA applicant that they do not want any waiver and shall pay dues of the bank. Rs. 10.00 Lac were paid, balance amount is not paid.
cm
Court of the Presiding Officer Debts Recovery Tribunal, Jaipur
Today counsel for defendant no. 1, 2 and 4 admits the liability. The absentee defendant is not partner, they are only mortgagors. Liability is admitted by the partnership firm by other partners.
The original application has been filed against the firm as defendant no. 1 and defendant no. 2 and 4 are partners. In view of the clear admission being made, the original application stands disposed of as allowed for a sum of Rs. 1,32,40,983.75/- and pendalite and future interest from 01.08.2025 @ 9.05% monthly rest. Amount already paid shall be adjusted.
The charges of action being taken by the bank under securitization shall also be paid by the borrower/the defendant as a cost of this securitization, amount to be paid in installments by 30.09.2026. It is made clear that if amount is not paid, then the bank will be at liberty to proceed under securitization.
At this stage, counsel for the defendant submits that he will pay Rs. 10.00 Lac in June, further Rs. 10.00 Lac in July and remaining amount by 25.09.2026.
Counsel for the respondent bank in SA submits that not more than two months shall be granted.
The purpose of the bank is to recover the dues and Tribunal has got ample power to grant time even if the recovery
cm
Court of the Presiding Officer Debts Recovery Tribunal, Jaipur
certificate is issued, this Tribunal has got the power to extend time under RC also.
The bank to consider issuing NOC in the Vehicle loan account in which the entire payment has already been made. He submits that he will sell the vehicle and deposit the amount in this account only.
In view of this order, SA stands disposed of, liberty is given to all the parties to move application in case of any exigency. In case of single default, the bank will be at liberty to proceed ahead under securitization from the place where it has been left today.
Accordingly, SA and OA stands disposed of, all pending IAs also stands disposed off, if any.
File be consigned to record as per rules. Copy of order be uploaded on website.
(Vimal Gupta) Presiding Officer Debts Recovery Tribunal, Jaipur
cm
3 issues framed by the court
Whether the adjudicating authority ought to accept a partial admission of liability and permit time-bound repayment in lieu of immediate realization.
Whether the powers under the Recovery of Debt Act can be exercised to grant an installment scheme subject to ongoing compliance.
How to deal with the disposal of connected securitization proceedings considering the admitted debt and partial repayment.
HDFC BANK
M/S POWER SOLUTION
MS POWER SOLUTION
Ritika Vaswani
Vimal Gupta
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
