Allowed

Hdfc Bank Limited v. Sh. Inderjit Singh and Others

DRT20 Mar 2026OA/1485/2025

Case brief

AI extract

What is this about?

The Debt Recovery Tribunal allowed HDFC Bank Limited's application under Section 19 of the RDB Act 1993 for recovery of Rs. 20.66 lakh plus interest. The court decreed the debt against borrowers and guarantor, fixed uniform interest at 8%p.a., and directed issuance of a recovery certificate.

What did the court decide?

Recovery of Rs. 20,66,501.70 jointly and severally with costs and future simple interest at 8% p.a. from filing date; Recovery Certificate issued; Leave to enforce via SARFAESI Act provisions or attac

Hdfc Bank Limited versus Sh. Inderjit Singh and… — Contract and Commercial Disputes | DRT (2026)

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DEBTS RECOVERY TRIBUNAL-III, CHANDIGARH

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ORIGINAL APPLICATION NO.1485/2025

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PRESIDED OVER BY MRIDULESH KUMAR SINGH

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DATE OF INSTITUTION: 14.10.2025

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DATE OF DECISION: 20.03.2026

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HDFC Bank Limited, having its Registered Office at Senapati Вараt

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Мarg, Lower Parel (West), Mumbai-400013

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Also at: HDFC Bank House, Plot No. I-15, Sector-101 Alpha, IT City,

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Mohali

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Also at: HDFC Bank Branch, Bhikhiwind, Tarn Taran, Punjаb, through

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its Authorized Representative, Sh. Dinesh Kumar. ……..Applicant

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Versus

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Sh. Inderjit Singh S/O Sh. Balwinder Singh, H.No.259, Wan Patti, Tarn Taran, Punjab-143305

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Sh. Prabhjit Singh S/O Sh. Balwinder Singh, H.No.259, Wan Patti, Tarn Taran, Punjab-143305

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Smt. Gurvinder alias Dalwinder Kaur W/O Sh. Balwinder Singh, H.No.259, Wan Patti, Tarn Taran, Punjab-143305

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Ms. Ramandeep Kaur D/O Sh. Balwinder Singh, H.No.259, Wan Patti, Tarn Taran, Punjab-143305

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Ms. Amandeep Kaur D/O Sh. Balwinder Singh, H.No.259, Wan Patti, Tarn Taran, Punjab-143305

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Sh. Harpreet Singh S/O Sh. Iqbal Singh R/O Mari Udhоkе, Кhalra, Tarn Taran, Punjab-143305

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….……Defendants

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Advocates:

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Argued by Sh. Sanchit Malik, Advocate proxy for Sh. Rajesh Jangra,

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Advocate for Applicant (through VC)

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Defendants already ex-parte vide order dated 23.01.2026.

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OA/ 1485/2025 HDFC BANK LTD VS. INDERJIT SINGH AND OTHERS

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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 & Bankruptcy Act 1993, against the defendants for recovery of Rs.20,66,501.70 (Rupees Twenty Lacs Sixty Six Thousand Five Hundred One and Paise Seventy Only). The Original Application has been filed through Sh. Dinesh Kumar, Legal Manager, of the applicant who is competent to institute the Original Application vide Power of Attorney dated 17.01.2024, which is Annexure A1 to this OA.

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The brief facts of the OA, are that the defendant nos. 1 to 5 approached the applicant for grant of KCC limit of Rs.12.00 Lacs and Agriculture Term Loan of Rs.5.00 Lacs vide loan application dated 22.10.2014. Defendant no. 6 stood as guarantor.

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Thereafter, the defendant nos. 1 to 5 approached the applicant for grant for enhancement of KCC limit from Rs.12.00 Lacs to Rs.20.00 Lacs, Overdraft Limit (DOD) of Rs.9.00 Lacs and Agriculture Term Loan of Rs.5.00 Lacs vide loan application dated 05.01.2016, which is Annexure A3 to this OA.

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The applicant sanctioned the KCC limit of Rs.12.00 Lacs vide sanction letter dated 28.10.2014 and terms and conditions were duly accepted by the defendants. Loan application dated 22.10.2014, sanction letter dated 28.10.2014, D.P. Note dated 12.11.2014, Letter of Continuity dated 12.11.2014, Agreement for Overdraft/Cash Credit cum guarantee cum hypothecation dated 12.11.2014 and Declaration dated 05.11.2014 u/s 4(1) of Punjab Agricultural Credit Operations and Miscellaneous Provisions (Banks) Act, 1978, which are Annexure A2(Colly) to this OA.

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Thereafter, the applicant sanctioned enhancement of KCC limit to Rs.16.00 Lacs vide sanction letter dated 17.02.2016, which is

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OA/ 1485/2025 HDFC BANK LTD VS. INDERJIT SINGH AND OTHERS

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Annexure A4 to this OA and terms and conditions were duly accepted by the defendants.

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Defendants no. 1 to 4 mortgaged their immovable property i.e. land measuring 80K-00M situated at Village Mari Kamboke and Village Dall, Hadbast no. 68, 66, Tehsil Patti, District Tarn Taran, Punjab (50K-13M situated at Village Mari Kamboke and 29K-07M situated at Village Dall) vide declaration dated 11.02.2016 u/s 4(1) of Punjab Agricultural Credit Operations and Miscellaneous Provisions (Banks) Act, 1978, along with its translation, along with letter to Joint SubRegistrar for creation of charge, which is Annexure A6 (Colly) to this OA. Documents executed: DP Note, Letter of Continuity, Agreement for Overdraft/Cash Credit cum guarantee cum hypothecation, all dated 18.02.2016 with KYC Documents of defendants, which are Annexure A5(Colly) to this OA; Loan Recall Notice dated 19.09.2025, along with Postal Receipts, which are Annexure A7(Colly) to this OA and Statement of Account with Certificate, which are Annexure A8(Colly) to this OA. 5. The loan account became irregular and was classified as NPA and after adjusting debit and credit entries in the loan account, there was a debit of Rs.20,66,501.70, 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. 6. The defendants were served notices to appear before this Tribunal but no one appeared on behalf of defendants and they were proceeded ex-parte vide order dated 23.01.2026. 7. In support of the OA, affidavit of Sh. Dinesh Kumar, Legal Manager, HDFC Bank Limited has been filed. 8. Heard ex-parte arguments and perused record.

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OA/ 1485/2025 HDFC BANK LTD VS. INDERJIT SINGH AND OTHERS

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It was argued by learned proxy counsel through video conferencing 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 A8 to this OA, it is proved that the defendants approached applicant for availing of the loan facility which was 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, the account of the defendants was classified as NPA. From the documentary evidence brought on record, it is proved that applicant bank is entitled to recover a sum of Rs.20,66,501.70 (Rupees Twenty Lacs Sixty Six Thousand Five Hundred One and Paise Seventy Only) along with interest from the defendants, jointly and severally, from the date of filing of the present Original Application till realization of the account.

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In so far as pendente lite and future rate of interest is concerned, the applicant in relief clause has claimed interest @11.00%p.a. with 16% penal interest and half yearly rests from 17.03.2025 till the realization.

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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

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instant case including nature of the mortgaged

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properties/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 the loan account from the date of filing of the OA till realization of the amount ordered vide this final order. It is ordered accordingly.

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OA/ 1485/2025 HDFC BANK LTD VS. INDERJIT SINGH AND OTHERS

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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.20,66,501.70 (Rupees Twenty Lacs Sixty Six Thousand Five Hundred One and Paise Seventy Only), jointly and severally, with costs, current and future simple interest @8.00%p.a. in the loan account 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 mortgaged properties/hypothecated assets of the 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.

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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 13.04.2026.

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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 . Dated: 20.03.2026.

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

Hdfc Bank Limited v. Sh. Inderjit Singh and Others

Case brief

What is this about?

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Hdfc Bank Limited v. Sh. Inderjit Singh and Others

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