Allowed

Indusind Bank Limited v. Harminder Singh & Ors.

DRT7 Sept 2026OA/137/2024

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed the applicant bank's application for recovery of outstanding loan dues, interest, and penalties. The bank proved its case via unchallenged evidence, and the Tribunal directed repayment or sale of mortgaged and personal assets.

What did the court decide?

Directed defendants to pay Rs. 1,40,07,133.66 with 10.50% interest; authorized recovery from mortgaged and personal assets certificate issued.

Indusind Bank Limited versus Harminder Singh & Ors. — Contract and Commercial Disputes | DRT (2026)

¶1

Before SUSHIL^{KUMARRASTOGI, Presiding Officer} Debts Recovery^{Tribunal-Il' Delhi}

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OA No.137^{OF 2024} INDUSIND^{BANKLTD VS HARMINDER SINGH& ORS}

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Reserved on t29'07'2026 Pronounced^{on : O7'09'2026}

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Indusind^{Bank Limited} Vs.

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-Applicant bank

¶6

Mr.^{HarminderSingh}

¶7

Mr. Sachin^Kumar

¶8

Bimlesh

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Bhuvneshwar

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WSS^{SecuritY Solutions hlt' Ltd}

¶11

Western^{SecuritYSolutions}

¶12

Sarita

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Defendants

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Present:

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Shri. Shahrukh^{Inam,Counsel for applicant} bank. S"i"nOuntt^{are exparte, since, 13'05'2026'}

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FINAL^ORDER

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This original^{application has been filed by the} applicant^{bank, on 30'11'2020 through Sh' Yatendra} Kumar,^{Authorized Representativeof the applicant bank'} under Section^{19 of the RDB Act' 1993 against the} defendants^{for recovery of a sum of Rs'1'40'07't33'66} due and^{outstanding interest, penalinterest calculatedup} to 30.09.2023^{along with future interestfrom date of flling} of this^{O.A. till the realization in full'}

¶18

The^{brief facts of the case are that at the request} of defendants,^{the applicant bank sanctioneda credit} facility in^{thb form of Long-Term Loan Facility of} q\

¶19

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OANO.^{137 of 2024}

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Rs.1,45,07,000/-,^{vide sanction lefter dated} 28.08.2019.^{The defendants executed all necessary} loaning documents^{on 29.08'2019'A memorandumof} Entry for deposit^{of title deeds dated27'09'2019} executed by^{defendant no.3 in respectof the secured} assets/mortgaged^{propeflry being "Propefi} bearing no.59l2 situated^{at Hari Nagar, part of} Khasra no.tO I^L I^2l U^{L, 20} I^t I^t I^{L,Village Naharpur Roppa' District} Gurgaon,^{Haryana-122001'"The defendantnos'2 to 7} stood as^guarantors.

¶22

It is further^{submittedthat the defendants enjoyed} and utilized^{the Loan facilities, but failed to maintainthe} flnancial^{discipline and failed to repay the due amounts'} The applicant^{bank requested the defendants to} regularize^{the loan account by visits and letters' but there} was no^{response from the defendants'Hence' the} account^{was classified as NPA dated 22'08 '2022' fhe} applicant^{bank serued a demand notice dated 06'02'2023} to the defendants^{but failed to recoverthe same Thus'} the^{presentO.A. is prefenedby the applicant bank to} recover^{its dues.}

¶23

On^{notice by this Tribunal,defendants put} appearance^{throughcounsel but failed to file written} statement.^{Thereafter,the defendants failed} to put appearance in^{the matter' Accordingly'} the defendants^{wereproceededagainst exparte} on 13.05.2026. 9-,\

¶24

¶25

OANO.^{137 of2024}

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The^{applicant bankhas flled evidence by way of} affidavit of^{Shri. Yatendra Kumar, Chief Managerand} Authorised^{Signatoryof the applicant bank as Annexure} A-1 to Annexure^{A-13, whichhave gone unchallenged} andun-rebutted.Hence,thecaseoftheapplicantstands fully established^{against the defendants with respectto} nonpayment^{of outstanding amount'}

¶27

After^{perusing the records,this Tribunal is of the} view that the^{applicant bank has proved its case beyond} reasonable^{doubts. The evidenceand documentsfiled by} the applicant^{bank not rebutted by the defendants by not} placing any evidence^{and there is no question of} disbelieving^{the evidenceand documentsfiled by the} based uPon^{the written/Printed} applicant^bank documents.

¶28

In the light^{of the above discussions,the present O'A'} deserues^{to be allowed.}

¶29

ORDER

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I^{hereby allow this O'A' of the applicant bank and} directthedefendantnos.ltoTtopayjointlyandseverally to the applicant^{bankwithin30 days from today' a sum} of Rs.1,40,07,t33.66^{along with cost' expenses and} interest @10.50o/o^{from the date of filing of this O'A' till} the date^{of realization.}

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In case^{of failure to deposit the aboveamount} within the^{stipulated period, the same shall be recovered} t"\

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OANO.^{137 of} 2024

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from the sale^{of moftgaged property bearingno'5912} situated at^{Hari Nagar,} ,part^{of Khasra no'lDltl2ltlL'} z}ltltll, Village^{Naharpur Roppa, District Gurgaon'} Haryana-122001.^{In case of short fall, the same shall be} recovered from^{the sale of personal movableand} immovable assets^{of the defendant nos'l to 7'}

¶35

1. Recovery^{Ceftificatebe issuedforthwith and be sent} to Recovery^{Officer, Debts Recovery Tribunal-Il, Delhi'}

¶36

The^{registryof this Tribunal is hereby directedto} issue free copy^{of the order and send the same to both} the^parties.

¶37

Parties^{are directed to appear before the Ld'} Recovery Officer,^{DRT-II, Delhi on O9'tl'2026' Pending} IAs, if anY,^{standdisPosed of.}

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File be consigned^{to records.}

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'e)

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Date : 07.09.2026^{(susHILr(wndAAstocl)} PRESIDING^OFFICER DRT-II, Delhi

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This^{judgement has been signed, datedand}

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pronounced in oPen^court.

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Date : 07.09.2026

¶44

lq6 (SUSHIL KUMAR^RASTOGI) PRESIDING^OFFTCER DRT-II, Delhi

Indusind Bank Limited v. Harminder Singh & Ors.

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Indusind Bank Limited v. Harminder Singh & Ors.

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