Allowed

Hdfc Bank v. Nazim Anwar Kotwal

DRT11 Aug 2026OA/704/2023

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the applicant bank's Original Application under Section 19(1) of the 1993 Act for recovery of a personal loan. The Tribunal held the evidence unchallenged and directed the defendant to pay the outstanding sum with future interest and the issuance of a Recovery Certificate.

What did the court decide?

The applicant was ordered to recover ₹26,45,663.28/- with future interest, and a Recovery Certificate was issued against the defendant's properties.

Hdfc Bank versus Nazim Anwar Kotwal — Banking and Recovery | DRT (2026)

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ORIGINAL APPLICATION NO.704 OF 2023

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DEBTS RECOVERY TRIBUNAL No.2, MUMBAI

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PRESIDING OFFICER: HARISH KUMAR KAUSHIK

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ORIGINAL APPLICATION NO.704 OF 2023

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Date of Institution: 11.04.2023 Date of Decision: 11.08.2026

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TOTAL CLAIM AMOUNT : ₹ 26,45,663.28/-

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HDFC BANK LIMITED, A banking company within the meaning of the Banking Regulation Act, 1949 and is registered under the Companies Act, 1956 and are carrying on Banking Business under the said Banking Regulation Act, 1949 and having their head office at HDFC Bank House, Senapati Bapat Marg, Lower Parel, Mumbai-400 013 and one of their offices amongst others at Alpha Building, 1^st floor, Kanjurmarg (E), Mumbai-400 042 through Authorised Officer Ms Mayuri Jadhav. … Applicant

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Versus

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MR NAZIM ANWAR KOTWAL, Having address at C/o Anwar Shafi Kotwal, Room No.110, 1^st floor, Building No.11, Om Sai Housing Society Hiranandani Akruti Lallubhai Compound, Mankhurd, Mumbai-400 043

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ORIGINAL APPLICATION NO.704 OF 2023

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And working as a Mechanical Engineer at Koch Chemical Technology Group India Pvt. Ltd., having address at 9^th floor, Seawood Grand Central F Wing, Tower-1, Seawood, Darave Mumbai. …Defendant

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APPEARANCES

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For the Applicant : Ms Jyoti Sanap i/b M/s. The Chambers of Jangra & Associates - Advocate For Defendant : Ex-Parte

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J U D G M E N T

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(1) This is an application under Section 19(1) of the Recovery of the Debts due to Banks and Financial Institutions Act, 1993 renamed as Recovery of the Debt and Bankruptcy Act, 1993 (for short, ‘the 1993 Act’) to recover ₹26,45,663.28/- (Rupees Twenty-Six Lakhs Forty-Five Thousand Six Hundred Sixty-Three and paisa Twenty-Eighty Only) under Personal Loan Account with future interest @ 10.75% per annum thereon from the date of presentation of the Original Application i.e. 11.04.2023 till payment/realization

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ORIGINAL APPLICATION NO.704 OF 2023

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The details of the claim amount are as under: -

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S	Nature	O/s.	Cheque	Interest	Pending	Total	Amount
r	of	amount	Bouncing	till date	Installm	as	on
N	Facility		Charges	of	ent	28.03	.2023
o				Prepay ment
1	Personal	₹15,31,692	₹10,090.	₹10,063.	₹1093817	₹26,4	5,663.28
	Loan	.54/-	13/-	00/-	.61/-	/-
	Account No.1167 37954

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(2) It is undisputed fact in the matter that the Defendant was duly served with the summons vide order-sheet dated 10.10.2024. Despite service, the defendants did not enter his appearance and therefore, he was set ex-parte on 08.04.2026.

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(3) Defendant is the borrower who approached the Applicant Bank and sought financial assistance by way of Personal Loan Facility Account No.95470341. Pursuant to the personal loan application dated 17.10.2019 made by defendant, the Applicant sanctioned the loan vide Sanction Letter dated 30.10.2019 for a sum of ₹30,00,000/payable in 60 EMIs of ₹64,854/- with interest at the rate of 10.75% per annum fixed interest. The 1^st instalment was to be paid on 06.12.2019 and last instalment on 06.11.2024.

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(4) On the dates given below, defendant signed and executed the loan and security documents as set out in paragraph nos. 5(2) to (4) of the Original Application. Defendant issued cheques to secure

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ORIGINAL APPLICATION NO.704 OF 2023

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the loan.

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The details of the documents executed by the Defendant are as under: -

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(a) Loan Application dated 17.10.2019;

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(b) Loan Agreement Terms and Conditions dated 30.10.2019.

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(5) After availing the loan, defendant did not adhere to the financial discipline and committed default in payment of instalments and repayment of the loan and accordingly the accounts of the borrower was declared as Non-Performing Assets (N.P.A.) on 04.01.2022 as per RBI Guidelines. Therefore, on 23.05.2022, the applicant, through its advocate, called upon defendant to liquidate the outstanding in the sum of ₹25,66,465/- (Rupees Twenty-Five Lakhs Sixty-Six Thousand Four Hundred Sixty-Five Only) as on 23.05.2022 together with agreed rate of interest and all costs, charges and expenses and penalty charges from 24.05.2022 till payment and/or realization within 7 days from receipt of the said notice. Despite notice, defendant no.1 failed and neglected to pay.

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(6) As on 28.03.2023, there was owing, due and payable by defendant to the applicant the aggregate sum of ₹26,45,663.28/(Rupees Twenty-Six Lakhs Forty-Five Thousand Six

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ORIGINAL APPLICATION NO.704 OF 2023

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Hundred Sixty-Three and paisa Twenty-Eighty Only) under Personal Loan Account with future interest @ 10.75% per annum thereon. The applicant has maintained the loan ledger extract and the entries posted therein are made in the usual and ordinary course of the banking business.

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(7) It was further stated by the Applicant bank that the said cheques were dishonoured.

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(8) Since, defendant failed and neglected to make the payment, the applicant was left with no other alternate but to file the Original Application which was presented on 11.04.2023.

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(9) The applicant has filed affidavit (exhibit-6) in lieu of examination in chief of Mrs Mayuri Jadhav, Authorised Officer of the Applicant Bank and list of documents (exhibit-7) thereby adducing in evidence the documents at AW-1 to AW-5, which are admitted in evidence, read, recorded and exhibited.

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(10) Accordingly, in the Original Application was filed for the recovery of ₹26,45,663.28/(Rupees Twenty-Six Lakhs Forty-Five Thousand Six Hundred Sixty-Three and paisa Twenty-Eighty Only) under Personal Loan Account with future interest @ 10.75% per annum thereon from the date of presentation of the Original Application i.e. 11.04.2023 till payment/realisation.

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ORIGINAL APPLICATION NO.704 OF 2023

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(11) The Tribunal has scrutinised and examined the averments contained in the Original Application and analysed the evidence adduced by the applicant which has gone unchallenged, uncontroverted and unrebutted.

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(12) Upon careful scrutiny and the examination of the Original Application, analysing the evidence and giving due weightage to the documentary evidence adduced by the applicant, the Tribunal views that there is no reason to disbelieve the claim made by the applicant bank.

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(13) In view of the observations made hereinabove, Original Application filed by the applicant deserves to be allowed.

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(14) Hence, the following order:

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ORDER

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(A) The Original Application No.704 of 2023 is allowed with costs.

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(B) Defendant is hereby ordered and directed to pay to the applicant, the aggregate sum of ₹26,45,663.28/- (Rupees Twenty-Six Lakhs FortyFive Thousand Six Hundred Sixty-Three and paisa Twenty-Eighty Only) under Personal Loan Account with future simple interest @ 10.75% per annum thereon from the date of presentation of the Original Application i.e. 11.04.2023 till payment/realization after adjusting the recoveries made by the Applicant under SARFAESI Act, 2002

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ORIGINAL APPLICATION NO.704 OF 2023

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or any other amount paid by the borrower after filing of this Original Application No.704 of 2023.

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(C) The Ld. Recovery Officer is hereby ordered to proceed against any of the available property/ies of the borrower to recover the said loan as per law.

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(D) Issue Recovery Certificate.

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(E) The learned Registrar is directed to send a copy of the judgment and recovery certificate to (i) the applicant, (ii) defendant and (iii) the Recovery Officer by post and email.

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(Harish Kumar Kaushik) Presiding Officer, DRT-2, Mumbai

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Hdfc Bank v. Nazim Anwar Kotwal

Case brief

What is this about?

What did the court decide?

Hdfc Bank v. Nazim Anwar Kotwal

Case brief

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