Allowed

Hdfc Bank Limited v. M/S Pinktech Designs Pvt. Ltd.

DRT20 Jul 2026OA/193/2023

Case brief

AI extract

What is this about?

This Tribunal allowed an original application filed by HDFC Bank Ltd to recover a sum of Rs. 1,53,30,276.62 along with interest and charges immediately from respondents who failed to repay a sanctioned cash credit facility, directing issuance of a Recovery Certificate.

What did the court decide?

Directed respondents to pay Rs. 1,53,30,276.62 with interest and charges within 30 days and issued a Recovery Certificate to the Recovery Officer.

Hdfc Bank Limited versus M/S Pinktech Designs Pvt… — Contract and Commercial Disputes | DRT (2026)

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BeforesusHILKU}IARRASToGI,Presid.ingofficer Debts^{RecoverYTribunal-Il' Delhi}

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OA No'193^{OF 2023}

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HDFC^{BANKLTD VS M/S PINKTECH DESIGNSPvT} LTD &ORS

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Reserved^on : 05'O6'2026

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Pronounced^on =^20'O7'20.26

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HDFC^Bank

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Vs.

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t. M/s^{Pinktech Designs hLtd}

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-Applicant^bank

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Mr.^KanavKahol

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Defendants

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Ms.^PriYamvada

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Ms. Sunanda^{Kumari, Counsel appearsfor} applicant^bank' iLi"nOunts^{are expafte, since' 07'04'2025'}

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Present

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FINAL^ORDER

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This original^{aPPlicationhas been fited bY the} applicant^{bank, on 03'03'2023 through Mr' Ankush} Saini, Senior^{Manager of the applicantbank' under} SectionlgoftheRDBAct,lgg3againstthedefendants for recovery^{of a sum.ofRs'1'53'30'276'62together} with^{cost, chargesand pendentellite and future interest} @18o/o^{from date of filing of this O'A' titl the realization} in full.

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2.^{The brief facts of the caseare that at the request} of defendants,^{the applicant bank sanctioned a Cash} Credit^{Facility of Rs'150'00 Lakhs'vide sanction letter} dated0T'0T.202lagainstprimarysecurityofcharge over current^{assets and book debts and personal} S-\

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2 OANO.^{193 of 2023} the defendant^{no'2 & 3' The} guarantee^of defendants^{executedall necessary loaning documents} on 07.07.202t.

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It^{is furthersubmitted that the defendants} enjoyed^{and utilizedthe Loanfacilities' but failed to} maintain^{the financial discipline and failed to repay the} dueamounts.Theapplicantbankrequestedthe defendantstoregularizetheloanaccountbyvisitsand letters,^{but there was no response from the} defendants.^{Hence,the accountwas classifiedas NPA} dated^{l8.Og.2OZ2' The applicant bank serueda} demand^{notice dated tl'02'2)23to the defendantsbut} failed^{to recover the same Thus' the presentO'A' is} preferred^{by the applicant bank to recover its dues'}

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On^{noticeby this Tribunal' defendans failed to} put appearance^{at all, despite publication'Accordingly'} thedefendantswereproceededagainstexparteon 07.04.2025.

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5.^{The applicant bank has filedevidenceby way of} affldavitofMr.AnkushSaini'seniorManagerofthe appiicant^{bank as Annexure A-t to Annexure- A-19'} which^{have goneunchallengedand un-rebutted'} Hence,^{the case of the applicantstands fully} established^{againstthe defendants with respect to} nonpayment^{of outstanding amount'}

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6.^{After perusing the records' this Tribunalis of the} view^{that the applicantbarrk has provedits case}

<.\

OA NO.^{193 of 2023}

beyond^{reasonabledoubts' Theevidence and} documents^{filed by the applicant banknot rebuttedby} the defendants^{by not placing any evidenceand there} is no^{question of disbelievingthe evidenceand} documents^{filed by the applicant bank based upon the} written/Printed^documents'

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

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ORDER

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I^{hereby allow this O'A' of the applicant bank and} direct^{the defendant nos'1 to 3 to pay jointlyand} severally^{to the applicant bank within 30 days from} today,^{a sum of Rs'1,53'30'276'62along with cost'} expenses^{and interest@18o/ofrom the date of fiting of} this O.A'^{till the date of realization'}

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it the above^amount 2)^{In case of failure to dePos} the same^{shall be} within the^{stiPulatedPeriod'} recoveredfromthesaleofhypothecatedassets.Incase of short^{fall, the sameshall be recovered from the sale} of^{personal movableand immovable assets of the} defendant^{nos.l to 3'}

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3)^{RecoveryCertificatebe issuedforthwith andbe} sent to^{Recovery Officer, Debts Recovery Tribunal-Il'} Delhi.

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4)^{The registry of this Tribunalis hereby directedto} issue^{free copy of the order and send the same to both} the Parties.

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4 OANO.^{193 of 2023} 5) Parties^{are directed to appearbefore the Ld'} Recovery^{Officer,DRT-II, Delhion 21'09'2026'Pending} IAs, if anY,^{standdisPosed of'}

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Fite be^{consigned to records'}

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S s.<sup>'n

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

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Date :^20.07.2026

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signed, dated^and This^{judgement has been} pronounced^{in oPen court'}

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sJE

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Date :^20.07.2026

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( SU S H I L ft -U MAR R,STSGI ) PRESIDING^OFFICER DRT-II,^Delhi

Hdfc Bank Limited v. M/S Pinktech Designs Pvt. Ltd.

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Hdfc Bank Limited v. M/S Pinktech Designs Pvt. Ltd.

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