Allowed

Hdfc Bank Ltd. v. M/S Varsha Roadlines Private Limited and Others

DRT4 Aug 2026OA/295/2025

Case brief

AI extract

What is this about?

The DRT allowed the bank's original application for recovery of loan dues. The court confirmed the outstanding liability after adjustments and directed the recovery certificate to be issued with interest at 8% p.a.

What did the court decide?

Applicant is entitled to recover Rs. 21,58,345.90 with interest @8% p.a. and a recovery certificate is directed to be issued.

Hdfc Bank Ltd. versus M/S Varsha Roadlines Private Limited… — Company and Corporate | DRT (2026)

¶1

DEBTS RECOVERY TRIBUNAL-III, CHANDIGARH

¶2

ORIGINAL APPLICATION NO. 295/2025

¶3

PRESIDED OVER BY MRIDULESH KUMAR SINGH

¶4

DATE OF INSTITUTION: 19.03.2025

¶5

DATE OF DECISION: 04.08.2026

¶6

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, Ms. Khushpreet Bains .

¶7

……..Applicant

¶8

Versus

¶9

M/s Varsha Roadlines Private Limited, through its Directors Ms. Sanya Kehar Bhalla, Sh. Santokh Singh Mehan and Sh. Pardeep Kumar, Village Daburji, Near Ambuja Cement Limited, P.O. Laudi, Majra, Tehsil & District Ropar (Punjab)–140113.

¶10

Smt. Sanya Kehar W/o Sh. Anil Bhalla, Director of M/s Varsha Roadlines Private Limited, R/o #981, Phase 10, SAS Nagar (Mohali)–160062.

¶11

Also at: R/o Flat No. 8252, ATS Cas Espana, ATS Tower No. 8, 25th Floor, Sector 121, SAS Nagar, Mohali (Punjab)–160062.

¶12

Sh. Santokh Singh Mehan S/o Sh. Om Paul Mehan, Director of M/s Varsha Roadlines Private Limited, Patti-Gaggar Ki, VPO Jandiala, Nakodar, Tehsil Phillaur Dhaliwal, Jalandhar (Punjab)–144033.

¶13

Sh. Pardeep Kumar S/o Sh. Chamanlal, Director of M/s Varsha Roadlines Private Limited, Flat No. 1201, M Block, Jal Vayu Tower, Sunny Enclave, Sector 125, Kharar, District SAS Nagar (Punjab)– 140301.

¶14

.……Defendants

¶15

Advocates:

¶16

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

¶17

None for Defendants (already ex parte vide order dated 19.11.2025)

¶18

2 OA/ 295/2025 HDFC BANK LIMITED VS M/S VARSHA ROADLINES PRIVATE LIMITED AND OTHERS

¶19

FINAL ORDER

¶20

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.1,09,13,036.90 (Rupees One Crore Nine Lac Thirteen Thousand Thirty Six and Paise Ninety Only). The Original Application has been filed through Ms. Khushpreet Bains, Authorised Representativ e, of the applicant, who is competent to institute the Original Application vide Power of Attorney dated 20.04.2024, which is Annexure A1 to this OA. 2. The brief facts of the OA are that the defendant no. 1, through its directors defendant nos. 2, 3 & 4, approached the applicant for Term Loan of Rs.158.00 lacs for purchase of four units of commercial vehicles vide Loan Application Form dated 03.12.2021, which are Annexures A2 & A3 to this OA. 3. The applicant sanctioned two Term Loans of Rs.33.50 lacs each, two Term Loans of Rs.37.50 lacs each for purchase of four units of commercial vehicles and two Term Loans of Rs.8.00 lacs each for purchase of bodies of said vehicles vide Agreement for Loan and Guarantee dated 17.07.2023, which are Annexures A4 & A5 to this OA and the terms and conditions were duly accepted by the defendants. 4. Defendant no. 1, through its directors defendant nos. 2, 3 & 4, hypothecated its vehicles with details as under: i. TATA Signa 5530 with Registration No. PB65BC0713, Engine No. 7B6A300D02122D64208066, Chassis No. MAT828024N2D08951; ii. TATA Signa 5530 with Registration No. PB65BC0714, Engine No. 7B6A300D02122D64207704, Chassis No. MAT828024N2D08858; Documents executed: Statement of Account dated 14.01.2025, which are Annexures A6 to A11 to this OA; Legal Notice along with Postal Receipts dated 23.01.2025, which are Annexures A12 to A17 to this OA. 5. 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.1,09,13,036.90 (Rupees One Crore Nine Lac Thirteen

¶21

3 OA/ 295/2025 HDFC BANK LIMITED VS M/S VARSHA ROADLINES PRIVATE LIMITED AND OTHERS

¶22

Thousand Thirty Six and Paise Ninety 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.

¶23

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 19.11.2025.

¶24

In support of the OA, affidavit of Ms. Khushpreet Bains, Authorised Representativ e, HDFC Bank Limited, h as been filed. 8. Heard ex-parte arguments and perused record.

¶25

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 A17 to this OA, it is proved that the defendant no. 1, through its directors defendant nos. 2, 3 & 4, 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 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. However, as per affidavit of Sh. Kabir Chopra, Officer of the applicant, filed on 03.08.2026 vide Dairy No. 14403, it is submitted that Applicant recovered the amount of Rs.64,22,221.00 during the pendency of this OA in four Term Loans, which were already adjusted and closed by the defendants and recovered the amount of Rs.11,66,235.00 each in two remaining active accounts.

¶26

From the documentary evidence brought on record, it is proved that applicant is entitled to recover a sum of Rs.21,58,345.90 (Rupees Twenty One Lac Fifty Eight Thousand Three Hundred Forty Five and Paise Ninety 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 as under:

¶27

4 OA/ 295/2025 HDFC BANK LIMITED VS M/S VARSHA ROADLINES PRIVATE LIMITED AND OTHERS

¶28

Amount	Period
Rs. 1,09,13,036.90	Date of filingOA to 03.03.2025
Rs. 1,07,77,836.90	04.03.2025 to 01.04.2025
Rs. 1,06,42,836.90	02.04.2025 to 02.05.2025
Rs. 1,05,02,586.90	03.05.2025 to 02.06.2025
Rs. 1,03,64,586.90	03.06.2025 to 03.07.2025
Rs. 1,02,26,586.90	04.07.2025 to 01.08.2025
Rs. 1,00,91,586.90	02.08.2025 to 02.09.2025
Rs. 99,56,386.90	03.09.2025 to 02.10.2025
Rs. 98,18,386.90	03.10.2025 to 31.10.2025
Rs. 96,80,766.90	01.11.2025 to 30.11.2025
Rs. 95,43,266.90	01.12.2025 to 01.01.2026
Rs. 94,06,266.90	02.01.2026 to 01.02.2026
Rs. 92,68,266.90	02.02.2026 to 02.03.2026
Rs. 91,30,266.90	03.03.2026 to 01.04.2026
Rs. 89,92,266.90	02.04.2026 to 01.05.2026
Rs. 88,55,266.90	02.05.2026 to 04.05.2026
Rs. 35,61,880.90	05.05.2026 to 05.05.2026
Rs. 24,33,045.90	06.05.2026 to 01.06.2026
Rs. 24,32,945.90	02.06.2026 to 02.06.2026
Rs. 22,95,945.90	03.06.2026 to 01.07.2026
Rs. 21,58,345.90	02.07.2026 till realization

¶29

In so far as pendent elite and future rate of interest is concerned,

¶30

the applicant has claimed interest @9.14%p.a. from 23.01.2025 till the realization.

¶31

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 uniform simple interest @8.00% p.a. in both 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.

¶32

In the result, the application is allowed declaring that the defendants are liable to pay to the applicant a total sum of Rs.21,58,345.90 (Rupees Twenty One Lac Fifty Eight Thousand Three

¶33

5 OA/ 295/2025 HDFC BANK LIMITED VS M/S VARSHA ROADLINES PRIVATE LIMITED AND OTHERS

¶34

Hundred Forty Five and Paise Ninety Only), jointly and severally, with costs, current and future simple interest @8.00% p.a. in both the loan accounts from the date of filing of OA till the date of realization of the amount as under:

¶35

Amount	Period	Simple ROI
Rs. 1,09,13,036.90	Date of filingOA to 03.03.2025	@8.00p.a.
Rs. 1,07,77,836.90	04.03.2025 to 01.04.2025	@8.00p.a.
Rs. 1,06,42,836.90	02.04.2025 to 02.05.2025	@8.00p.a.
Rs. 1,05,02,586.90	03.05.2025 to 02.06.2025	@8.00p.a.
Rs. 1,03,64,586.90	03.06.2025 to 03.07.2025	@8.00p.a.
Rs. 1,02,26,586.90	04.07.2025 to 01.08.2025	@8.00p.a.
Rs. 1,00,91,586.90	02.08.2025 to 02.09.2025	@8.00p.a.
Rs. 99,56,386.90	03.09.2025 to 02.10.2025	@8.00p.a.
Rs. 98,18,386.90	03.10.2025 to 31.10.2025	@8.00p.a.
Rs. 96,80,766.90	01.11.2025 to 30.11.2025	@8.00p.a.
Rs. 95,43,266.90	01.12.2025 to 01.01.2026	@8.00p.a.
Rs. 94,06,266.90	02.01.2026 to 01.02.2026	@8.00p.a.
Rs. 92,68,266.90	02.02.2026 to 02.03.2026	@8.00p.a.
Rs. 91,30,266.90	03.03.2026 to 01.04.2026	@8.00p.a.
Rs. 89,92,266.90	02.04.2026 to 01.05.2026	@8.00p.a.
Rs. 88,55,266.90	02.05.2026 to 04.05.2026	@8.00p.a.
Rs. 35,61,880.90	05.05.2026 to 05.05.2026	@8.00p.a.
Rs. 24,33,045.90	06.05.2026 to 01.06.2026	@8.00p.a.
Rs. 24,32,945.90	02.06.2026 to 02.06.2026	@8.00p.a.
Rs. 22,95,945.90	03.06.2026 to 01.07.2026	@8.00p.a.
Rs. 21,58,345.90	02.07.2026till realization	@8.00 p.a.

¶36

Accordingly, the applicant shall be entitled to recover aforesaid amount

¶37

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 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

¶38

the claim through due process of law.

¶39

12. Any other application pending stands disposed of.

¶40

Issue Recovery Certificate accordingly.

¶41

Parties to appear before Learned Recovery Officer of this Tribunal

¶42

on 19.08.2026

¶43

6 OA/ 295/2025 HDFC BANK LIMITED VS M/S VARSHA ROADLINES PRIVATE LIMITED AND OTHERS

¶44

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 . Dated: 04.08.2026

¶45

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

Hdfc Bank Ltd. v. M/S Varsha Roadlines Private Limited and Others

Case brief

What is this about?

What did the court decide?

Hdfc Bank Ltd. v. M/S Varsha Roadlines Private Limited and Others

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

Coram

Case details

Similar cases

Hdfc Bank Ltd. versus M/S Jap Trading Co. and Another

Axis Bank Ltd. versus Sh. Mandeep Singh and Others

Hdfc Bank Limited versus Sh. Sohan Singh and Another

Kotak Mahindra Bank Limited versus M/S Dhiman Traders and Others

Kotak Mahindra Bank Limited versus M/S Darsh Roadlines and Others

Indian Overseas Bank versus Sh. Karanbir Singh and Others