Allowed

Hdfc Bank Limited v. Sh. Sanjay Kumar Tiwari and Another

DRT19 Aug 2026OA/182/2026

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed HDFC Bank's application for recovery of Rs. 77.20 lakh. The court modified the claimed interest rate from 10.26% to 8% p.a., directed issuance of a Recovery Certificate, and allowed recovery via hypothecated vehicles and asset attachment.

What did the court decide?

Recovery of Rs. 77,20,334.58 with 8% p.a. interest; Issuance of Recovery Certificate; Liberty to recover dues from hypothecated vehicles or personal assets.

Hdfc Bank Limited versus Sh. Sanjay Kumar Tiwari and Another — Banking and Recovery | DRT (2026)

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DEBTS RECOVERY TRIBUNAL-III, CHANDIGARH

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ORIGINAL APPLICATION NO. 182/2026

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PRESIDED OVER BY MRIDULESH KUMAR SINGH

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DATE OF INSTITUTION: 29.01.2026

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DATE OF DECISION: 19.08.2026

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HDFC Bank Limited, having its Registered Office at Senapati Bapat Marg, Lower Parel (West), Mumbai-400013, also at Plot No. 1-15, Sector 101, ALPHA IT City, SAS Nagar (Mohali), through its Authorised Representative Sh. Deepak Sharda, also at HDFC Bank Limited, Ludhiana (Punjab).

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……..Applicant

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Versus

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Sh. Sanjay Kumar Tiwari S/o Sh. Lal Mani, R/o Bhamian Road, Raja Carden, Focal Point, Ludhiana (Punjab)-141010.

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Smt. Mala Devi W/o Sh. Sanjay Kumar Tiwari, R/o Bhamain Road, Raja Carden, Focal Point, Ludhiana (Punjab)-141010.

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.……Defendants

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Advocates:

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Argued by Ms. Dipti Toni, Advocate for applicant (through VC)

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None for Defendants (already ex parte vide order dated 17.08.2026)

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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 and Bankruptcy Act 1993, against the defendants for recovery of Rs.77,20,334.58 (Rupees Seventy Seven Lac Twenty Thousand Three Hundred Thirty Four and Paise Fifty Eight Only). The Original Application has been filed through Sh. Deepak Sharda, Authorised Representativ e of the applicant, who is competent to institute the Original Application vide Board Resolution dated 21.08.2025, which is Annexure A1 to this OA.

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The brief facts of the OA are that the defendants approached the applicant for grant of Term Loan of Rs.21,39,772.00 for purchase of

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2 OA/ 182/2026 HDFC BANK LIMITED VS SH. SANJAY KUMAR TIWARI AND ANOTHER

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commercial vehicle vide Loan Application Form dated 01.11.2022, which is Annexure A2 to this OA;

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Thereafter, the defendants approached the applicant for grant of Term Loan of Rs.12,38,728.00 for purchase of commercial vehicle vide Loan Application Form dated 07.02.2023, which is Annexure A4 to this OA; Thereafter, the defendants approached the applicant for grant of Term Loan of Rs.14,09,217.00 for purchase of commercial vehicle vide Loan Application Form, which is Annexure A6 to this OA; Thereafter, the defendants approached the applicant for grant of Term Loan of Rs.27,32,482.00 for purchase of commercial vehicle vide Loan Application Form dated 17.12.2023, which is Annexure A8 to this OA;

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Thereafter, the defendants approached the applicant for grant of Term Loan of Rs.35,28,379.00 for purchase of commercial vehicle vide Loan Application Form dated 01.08.2024, which is Annexure A10 to this OA;

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Thereafter, the defendants approached the applicant for grant of Term Loan of Rs.3,07,669.00 for purchase of body of commercial vehicle vide Loan Application Form dated 28.08.2024, which is Annexure A12 to this OA;

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Thereafter, the defendants approached the applicant for grant of Term Loan of Rs.12,16,975.00 for purchase of commercial vehicle vide Loan Application Form dated 28.04.2025, which is Annexure A14 to this OA. 3. The applicant sanctioned the Term Loan-I of Rs.21,39,772.00 vide Agreement for loan and guarantee dated 14.11.2022, which is Annexure A3 to this OA and the terms and conditions were duly accepted by the defendants.

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3 OA/ 182/2026 HDFC BANK LIMITED VS SH. SANJAY KUMAR TIWARI AND ANOTHER

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Thereafter, the applicant sanctioned the Term Loan-II of Rs.12,38,728.00 vide Agreement for loan and guarantee dated 09.02.2023, which is Annexure A5 to this OA; Thereafter, the applicant sanctioned the Term Loan-III of Rs.14,09,217.00 vide Agreement for loan and guarantee dated 04.08.2023, which is Annexure A7 to this OA; Thereafter, the applicant sanctioned the Term Loan-IV of Rs.27,32,482.00 vide Agreement for loan and guarantee dated 27.12.2023, which is Annexure A9 to this OA; Thereafter, the applicant sanctioned the Term Loan-V of Rs.35,28,379.00 vide Agreement for loan and guarantee dated 17.08.2024, which is Annexure A11 to this OA; Thereafter, the applicant sanctioned the Term Loan-VI of Rs.3,07,669.00 vide Agreement for loan and guarantee dated 06.09.2024, which is Annexure A13 to this OA; Thereafter, the applicant sanctioned the Term Loan-VII of Rs.12,16,975.00 vide Agreement for loan and guarantee dated 29.04.2025, which is Annexure A15 to this OA. 4. Defendant no. 1 hypothecated his vehicles given as under: i. AL 1615 BS VI bearing Regn. No. PB10HY9477, Engine No. NEHZ425097, Chassis No. MB1A3HCD9NRDB1834; ii. TATA LPT 2518 62 TC EX bearing Regn. No. PB10FV9405, Engine No. 61D84303905, Chassis No. MAT448037G5E08160; iii. TATA LPT 2518 62 TC EX bearing Regn. No. PB10GZ9405, Engine No. 81J84825349, Chassis No. MAT448615J3K13338; iv. TATA LPT 3118 bearing Regn. No. PB10HS7723, Engine No. B56B6A180D02112K63886680, Chassis No. MAT775006MIN24268; v. EICHER PRO 6028 BS VI bearing Regn. No. PB10JR9405, Engine No. E626CCRF485002, Chassis No. MC2BBBMRCORG117086;

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4 OA/ 182/2026 HDFC BANK LIMITED VS SH. SANJAY KUMAR TIWARI AND ANOTHER

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vi. TATA SIGNA 2818 55 CAB BSVI bearing Regn. No. PB10HB9405, Engine No. 91C84871456, Chassis No. MAT448643K5D07249;

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vide Registration Certificates, which are Annexure A16 to A18 to this OA; copy of Virtual Registration Certificates of remaining vehicles was filed on 18.08.2026 vide Dairy no. 14477.

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Documents executed: S tatement of Accounts dated 10.12.2025, which are Annexure A19 to A25 to this OA; Legal Notice with postal receipts dated 16.12.2025, which are Annexure A26 to A28 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 loan accounts, there was a debit of Rs.77,20,334.58 (Rupees Seventy Seven Lac Twenty Thousand Three Hundred Thirty Four and Paise Fifty Eight Only), 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 summons to appear before this Tribunal but no one appeared on behalf of defendants and they were proceeded ex-parte vide order dated 17.08.2026.

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In support of the OA, affidavit of Sh. Deepak Sharda, Authorised Representativ e, HDFC Bank Limited, h as been filed. 8. Heard ex-parte arguments and perused record. 9. It was argued by learned counsel for applicant, 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 A28 to this OA, it is proved that the defendants approached applicant for availing of the loan facilities, which were granted to them. Defendants had executed all the relevant documents in favour of the applicant. The defendants failed

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5 OA/ 182/2026 HDFC BANK LIMITED VS SH. SANJAY KUMAR TIWARI AND ANOTHER

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to pay back the loans as per terms and conditions of the agreement between the parties. Subsequently, all the 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.77,20,334.58 (Rupees Seventy Seven Lac Twenty Thousand Three Hundred Thirty Four and Paise Fifty Eight Only), along with interest from the defendants, jointly and severally, from the date of filing of the present Original Application till realization of the amount.

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In so far as pendent elite and future rate of interest is concerned, the applicant has claimed interest @10.26% p.a. from 11.12.2025 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 instant case including nature of the hypothecated vehicles, undertaking of the defendants, quantum of loans 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 simple interest @8.00% p.a. in all the loan accounts 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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In the result, the application is allowed declaring that the defendants are liable to pay to the applicant a total sum of Rs.77,20,334.58 (Rupees Seventy Seven Lac Twenty Thousand Three Hundred Thirty Four and Paise Fifty Eight Only), jointly and severally, with costs, current and future simple interest @8.00% p.a. in all 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 vehicles of the defendant no. 1 in execution proceedings if not sold earlier under the provisions of the SARFAESI Act, 2002. If the dues of the applicant still

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6 OA/ 182/2026 HDFC BANK LIMITED VS SH. SANJAY KUMAR TIWARI AND ANOTHER

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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 03.09.2026

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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. Pronounced by me in the open Tribunal .

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Dated: 19.08.2026

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(MRIDULESH KUMAR SINGH)

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Presiding Officer,

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DRT-III, Chandigarh

Hdfc Bank Limited v. Sh. Sanjay Kumar Tiwari and Another

Case brief

What is this about?

What did the court decide?

Hdfc Bank Limited v. Sh. Sanjay Kumar Tiwari and Another

Case brief

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What did the court decide?

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