Allowed

Hdfc Bank v. Sh. Sandeep Miglani and Another

DRT6 Jul 2026OA/283/2026

Case brief

AI extract

What is this about?

This adjudication allowed an applicant bank's claim for recovery of a defaulted personal loan of Rs.28,82,404.12. The tribunal observed ex-parte arguments, noted unrebutted documentary evidence, and reduced the claimed interest rate to 8% per annum before ordering attachment of assets.

What did the court decide?

Definition of decree allowing recovery of Rs.28,82,404.12 with costs and 8% simple interest; direction to issue Recovery Certificate.

Hdfc Bank versus Sh. Sandeep Miglani and Another — Contract and Commercial Disputes | DRT (2026)

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DEBTS RECOVERY TRIBUNAL-III, CHANDIGARH

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ORIGINAL APPLICATION NO.283/2026

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PRESIDED OVER BY MRIDULESH KUMAR SINGH

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DATE OF INSTITUTION: 11.02.2026

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DATE OF DECISION: 06.07.2026

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HDFC Bank is a body incorporated under the name and title as HDFC Bank Ltd. under the provisions of the Companies Act 1956 and is having its Registered Office at Senapati Bapat Marg, Lower Parel - (West), Mumbai - 400013 and one of its branches at Retail Loan Service Centre HDFC Bank Ltd. Third Floor, B-21-14570, GT Road, Dholewal Chowk, Adjoining Gulzar Motor, Ludhiana, Punjab - 141003, through its Principal officer and Constituted Attorney Sh. Deepak Sharda, Manager (Legal), posted at HDFC Bank, Plot No.1-15, Sector 101, Alpha, IT City, Mohali, District S.A.S. Nagar, Mohali (Punjab).

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……..Applicant

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Versus

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Sh. Sandeep Miglani S/o Sh. Mohan Lal, R/o H.No.9563/1, Ward No. 28, Joshi Nagar, Ludhiana - 141001 (Punjab).

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Ms. Kanika Miglani D/o Sh. Kamal Arora, R/o H.No.9563/1, Joshi Nagar, Haibowal Kalan, Ludhiana -141001 (Punjab) .

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……. .Defendants

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Advocates:

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Argued by Sh. K P S Dhillon, Advocate for the applicant

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None for defendants (Already ex-parte vide order dated 03.07.2026).

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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 & Bankruptcy Act 1993, against the defendants for recovery of Rs.28,82,404.12 (Rupees Twenty Eight Lacs Eighty Two Thousand Four Hundred Four and Paise Twelve Only). The Original Application has been filed through Sh. Deepak Sharda, Manager (Legal) of the applicant, who is competent to

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2 OA NO.283/2026 HDFC BANK LTD. VS SH. SANDEEP MIGLANI AND ANOTHER

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institute the Original Application vide Board Resolution dated 21.08.2025, which is Annexure P/A to this OA.

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The brief facts of the OA are that the defendants approached the applicant for grant of Personal Loan of Rs.50,00,000.00 vide Loan Application Form dated 13.10.2023, which is Annexure A1 to this OA. 3. The applicant sanctioned the Personal Loan of Rs.50,00,000.00 and the terms and conditions were duly accepted by the defendants vide Term and Conditions applicable to Business Loan dated 23.10.2023, which is Annexure A2 to this OA. 4. Documents executed: Statement of Account along with certificate, which is Annexure A3 to this OA; Recall Notice dated 07.01.2026, which is Annexure A4 to this OA; Legal Notice dated 13.01.2026 along with postal receipts, which is Annexure A5 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.28,82,404.12, 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 03.07.2026. 7. In support of the OA, affidavit of Sh. Deepak Sharda, Manager (Legal), HDFC Bank Ltd. has been filed. 8. Heard ex-parte arguments and perused record. 9. It was argued by learned counsel for applicant that in view of the documentary evidence brought on record which had gone unrebutted, the applicant bank had proved its case. From the perusal of all the Annexures P/A, A1 to A5 to this OA, it is proved that the defendants approached applicant for availing of loan facility which was granted to them and for that they had

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3 OA NO.283/2026 HDFC BANK LTD. VS SH. SANDEEP MIGLANI AND ANOTHER

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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, loan account 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.28,82,404.12 (Rupees Twenty Eight Lacs Eighty Two Thousand Four Hundred Four and Paise Twelve 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 pendente lite and future rate of interest is concerned, the applicant in relief clause has claimed interest @15.25%p.a. with monthly rests with penal interest @2% from 08.01.2026 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 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 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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In the result, the application is allowed declaring that the defendants are liable to pay to the applicant sum of Rs.28,82,404.12 (Rupees Twenty Eight Lacs Eighty Two Thousand Four Hundred Four and Paise Twelve 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 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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4 OA NO.283/2026

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HDFC BANK LTD. VS SH. SANDEEP MIGLANI AND ANOTHER

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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 21.07.2026.

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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 .

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Dated: 06.07.2026

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(MRIDULESH KUMAR SINGH)

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Presiding Officer,

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DRT-III, Chandigarh

Hdfc Bank v. Sh. Sandeep Miglani and Another

Case brief

What is this about?

What did the court decide?

Hdfc Bank v. Sh. Sandeep Miglani and Another

Case brief

What is this about?

What did the court decide?

What the court decided

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Statutes considered

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