Allowed

Hdfc Bank v. Kbs Impex Pvt. Ltd.

DRT24 Aug 2026OA/272/2024

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the applicant bank's application for recovery of dues totaling Rs. 60,56,349.47 plus interest. The tribunal proceeded ex-parte against absent defendants, finding the bank's documented case unrebutted and well-proved. The order directed the recovery certificate to be issued for enforcement through sale of assets.

What did the court decide?

Direct the defendants to pay Rs. 60,56,349.47 as on 01.03.2024 along with pendentelite and future interest at 18% per annum and costs. Recovery to be effected by sale of defendants' assets.

Hdfc Bank versus Kbs Impex Pvt. Ltd. — Banking and Recovery | DRT (2026)

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O.A. No. 272 of 2024

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Debts Recovery Tribunal-I, Delhi 4th floor, Jeevan Tara Building, Parliament Street, New Delhi

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Presiding Officer: Shri Govind Ballabh Sharma

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O.A. No.272 of 2024

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HDFC Bank Ltd.

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Department for Special Operations Gulab Bhawan, Ground Floor 6, Bahadur Shah Zafar Marg

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Applicant

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Versus

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M/s KBS Impex Private Limited

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Regd.Office: Near Ras Dharam Kata Right Portion, Ground Floor, Kh.No.41, Khata No.7/4 Min, Village Siraspur, Delhi-110042

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Sh.Anirudh Dhawan s/o Sh.Sanjiv Dhawan R/o D-15, Single Storey, Vijay Nagar

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Delhi-110009

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Sh.Jatin Dhawan s/o Sh.Sanjiv Dhawan R/o D-15, Single Storey, Vijay Nagar Delhi-110009 Defendants

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Present: Shri Navin Kumar, Counsel for the applicant bank

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Date of Reserve: 06.08.2026

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Date of Pronouncement: 24.08.2026

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FINAL ORDER

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This original application has been filed by the applicant bank on 01.04.2024 under Section 19 of Recovery of Debts and Bankruptcy Act, 1993 against the defendants for recovery of a sum of Rs.60,56,349.47 (Rupees Sixty Lacs Fifty Six Thousand Three Hundred Forty Nine & paisa Forty Seven only) as on

O.A. No. 272 of 2024

01.03.2024 along with pendentelite and future interest @18% rate of interest from the date of filing of this application till the date of its realization with costs.

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The brief facts of the case are that on the request of the defendant no.1 being, private limited company of defendant no.2 and 3 as directors engaged in the business of trading of E-commerce vide their loan application dated 31.08.2022, the applicant bank sanctioned Cash Credit limit of Rs.80.00 lacs on 28.10.2022 for working capital requirements duly approved by Board Resolution dated 29.10.2022 @9.25% interest per annum. The defendants agreed to the applicant bank to charge penal interest @2% over existing rate of interest on account of default in repayment of interest or irregularity in the account.

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That in order to avail the cash credit facility, the defendant no.2 and 3 executed Master Facility Agreement, Deed of Hypothecation, Memorandum relating charge over fixed deposits/cash deposit, Joint Letter of Continuing Guarantees, Power of Attorney, Networth Certificates of defendant no.1 & 2 on 02.11.2022 towards the applicant bank. The defendants executed Letters of Guarantees owning liability joint and several in favour of applicant bank.

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That in order to secure the credit facility, the defendants created first charge by way of hypothecation over the stocks, book debts and assets in favour of applicant bank.

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It has been submitted by the applicant bank that after availing the credit facility, the defendants failed to adhere to the financial discipline and committed various defaults in the payment of interest and other charges due to which account

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O.A. No. 272 of 2024

became irregular and the applicant bank classified the account as NPA on 31.01.2024 as per RBI guidelines and issued final recall notice on 07.03.2024 to pay entire outstanding and invoked the guarantees of defendant no.2 and 3 but defendants paid no heed and neglected to deposit any amount for regularization of the account, hence, the applicant bank approached this tribunal for recovery of their dues.

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Notices of this O.A. were issued to the defendants and despite of proper service, the defendants have chosen to absent from the proceedings. Vide order dated 24.04.2026, the defendants have been proceeded ex-parte as they have not appeared before the Tribunal and even evidence and affidavit of assets have not been filed by the defendants.

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In order to prove its case, the applicant bank has filed its evidence by way of Affidavit of Sh.Somnath Pandey, authorized representative of the applicant bank, who has submitted the documents such as Board Resolutions, Loan Application with KYC documents, Sanction Letter dated 28.10.2022, Board Resolution dated 29.10.2022, Master Facility Agreement, Deed of Hypothecation, Memorandum relating to charge over Fixed Deposits/Cash Deposits, Joint Letter of Continuing Guarantees, Power of Attorney, Networth Certificates, Recall Notice along with Postal Receipts, Certificate under Section 65B(2) of Indian Evidence Act, Certifitate u/s 2A(b) of Bankers' Book of Evidence Act and Statement of Account marked as Ex.AW-1/1 to Ex.AW-1/14.

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The applicant bank has fully corroborated the averments made in the O.A. Even otherwise the whole case of the

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O.A. No. 272 of 2024

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applicant bank is based on the documents and the same have been duly approved.

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The case filed by the applicant bank gone unrebutted and there is no question of disbelieving the case of the applicant bank and the applicant bank has proved its case beyond reasonable doubts.

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In the light of the above discussions, the Original Application deserves to be allowed.

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ORDER

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I, allow this OA and direct the defendants to pay to the applicant bank, jointly or severally, within a period of 30 days, a sum of Rs.60,56,349.47 (Rupees Sixty Lacs Fifty Six Thousand Three Hundred Forty Nine & paisa Forty Seven only) as on 01.03.2024 together with pendentelite and future interest @18.00% per annum with monthly rests from 01.03.2024 till the date of realization and costs; failing which the aforesaid amount shall be recovered from the sale of stocks, book debts and other movable assets of defendant no.1 In case of shortfall, the same shall be recovered from the sale of movable and immovable properties of the defendants.

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(II) The recovery certificate be issued forthwith and be sent to the Recovery Officer, Debt Recovery Tribunal-I, Delhi.

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(III) Parties are directed to appear before the Recovery Officer, DRT I, Delhi on 27.10.2026.

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O.A. No. 272 of 2024

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(IV) Copies of final order as well as Recovery Certificate be sent to all concerned free of cost.

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5dA s (GOVIND BALLABH SHARMA) PRESIDING OFFICER DRT-I, DELHI

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(Dictated and pronounced in open court) Dated: 24.08.2026

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Hdfc Bank v. Kbs Impex Pvt. Ltd.

Case brief

What is this about?

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Hdfc Bank v. Kbs Impex Pvt. Ltd.

Case brief

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