Allowed

Hdfc Bank v. Gopal Enterprises

DRT24 Aug 2026OA/71/2024

Case brief

AI extract

What is this about?

The applicant bank filed an application under the RDB Act for recovery of dues from defendants who failed to repay a sanctioned credit facility. The defendants did not appear, and the tribunal proceeded ex-parte, allowing the application and directing recovery of the principal sum with interest.

What did the court decide?

Ordered to pay principal sum of Rs.1,49,60,765.86 as on 30.06.2023 along with pendentelite and future interest @12% p.a. and costs. Directed to appear before Recovery Officer on 27.10.2026.

Hdfc Bank versus Gopal Enterprises — Contract and Commercial Disputes | DRT (2026)

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O.A. No. 71 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.71 of 2024

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HDFC Bank Ltd.

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Department for Special Operations Ansal Classique Tower, 5th Floor, J Block, Community Centre Opposite Surya Continental, Rajouri Garden, New Delhi-110027

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Applicant

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Versus

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M/s Gopal Enterprises Through its proprietor Sh.Sunny Jain C-54, Wazirpur Industrial Area New Delhi-110052

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Sh.Sunny Jain s/o Ram Niwas Jain R/o B-2/12, 2nd Floor, Rana Pratap Bagh Delhi-110007

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Sh.Ram Niwas Jain s/o Ram Singh Jain R/o C-64, 1st Floor, Shakti Nagar Extn Ashok Vihar, Delhi-110052

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Also at:

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10578/14/15, Gali No.2 Shanker Shyamji Lane, New Delhi-110005

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Also at:

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R/o B-2/12, 2nd Floor, Rana Pratap Bagh Delhi-110007

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Smt.Kalawati Jain R/o C-64, 1st Floor, Shakti Nagar Extn Ashok Vihar, Delhi-110052

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Also at:

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10578/14/15, Gali No.2 Shanker Shyamji Lane, New Delhi-110005

O.A. No. 71 of 2024

Defendants

Also at:

R/o B-2/12, 2nd Floor, Rana Pratap Bagh Delhi-110007

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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 09.09.2023 under Section 19 of Recovery of Debts and Bankruptcy Act, 1993 against the defendants for recovery of a sum of Rs.1,49,60,765.86 (Rupees One Crore Forty Nine Lacs Sixty Thousand Seven Hundred Sixty Five & paisa Eighty Six only) as on 30.06.2023 along with pendentelite and future interest @12% 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.2 being proprietor of defendant no.1 engaged in business of trading of stainless steels items, vide loan application dated 21.11.2013 along with relevant documents, the applicant bank sanctioned Cash Credit facility of Rs.50,00,000/- (Rupees Fifty Lacs only) @11.75% interest per annum and LC limit of Rs.25,00,000/- (Rupees Twenty Five lacs only) on 31.12.2023 against hypothecation of stocks, book debt and EM of property at Rana Pratap Bagh. On the request of defendant no.1, the Cash Credit facility was enhanced to Rs.80.00 lacs on 12.01.2015 and further to Rs.130.00 lacs on 24.07.2015, reduced to Rs.95.00 lacs on 30.11.2018 and again enhanced to Rs.150.00 lacs on 29.12.2021 for working capital requirements @12.00% interest per annum. The defendant

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O.A. No. 71 of 2024

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no.3 and 4 stood as guarantors for the credit facility sanctioned in favour of defendant no.1 by the applicant bank. In case of default in repayment, the defendant no.1 agreed to pay penal interest @2% over existing rate of interest to the applicant bank.

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That in order to avail the credit facilities, the defendant no.2 as proprietor of defendant no.1 submitted loan application along with relevant documents and executed Demand Promissory Note, Master Facility Agreement (MFA), Letter of Hypothecation, Letters of Continuing Guarantee on 31.12.2013 as well as Supplementary Agreement, Supplementary Letter of Hypothecation, Letter of Continuing Security, Power of Attorney, Declaration-cum-Indemnity, Supplementary Letter of Continuing Guarantee by defendant no.2 to 4, Deed of Indemnity and Amendment Agreement on various date as and when the credit facility was enhanced/modified/renewed on various dates in favour of applicant bank. The defendant no.2 to 4 as guarantors executed Supplementary Letter of Continue Guarantee on 24.01.2022.

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That in order to secure the repayment of credit facility, the defendant no.3 and 4 created equitable mortgage of their property bearing Entire Third Floor with roof rights, part of portion of Property bearing no.D-19 & 20, situated at Rana Pratap Bagh, Delhi measuring 240 sq.yds on 10.01.2014 by depositing Sale Deed dated 13.07.2011 with applicant bank and executed Memorandum recording past transactions of creation of mortgage by delivery of title deeds in favour of applicant bank and extended at the time of renewal / modification / enhancement of credit facility lastly on 29.12.2021 by the applicant bank.

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O.A. No. 71 of 2024

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It has been submitted by the applicant bank that after availing the credit facility, the defendants failed / neglected to adhere to the financial discipline and committed defaults in the payment of principal debt and interest as per terms of sanction despite repeated requests and reminders on various dates. The applicant bank classified the account as NPA on 13.01.2023 and issued final recall notice dated 29.07.2023 to defendants recalling entire outstanding by invoking personal guarantee of guarantors but defendants made no efforts to clear the outstanding in 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 24.042026, 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.Sanjay Sharma, authorized representative of the applicant bank, who has submitted the documents such as Board Resolution, Loan Application along with KYC documents, Sanction Letters, Demand Promissory Notes, Master Facility Agreements, Letters of Hypothecation, Letters of Continuing Guarantee, Memorandum recording Past Transaction of Creation of Mortgage by Delivery of Title Deeds, Copy of Sale Deed, Supplementary Agreement, Supplementary Letter of Hypothecation, Letter of Continuing Security, Power of Attorney, Declaration-cum-Indemnity, Supplementary Letter of Continuing Guarantee, Deed of Indemnity, Amendment Agreements, Renewal Sanction Letters, Loan Recall Notice

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O.A. No. 71 of 2024

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along with Postal Receipts, Statement of Account along with Certificates under Section 2A(b) of Bankers' Book of Evidence Act and Certificate u/s 65-B (2) of Indian Evidence Act u/s 2A(b) of Bankers Books Evidence act marked as Exh.AW-1/1 to Exh.AW-1/47.

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The applicant bank has fully corroborated the averments made in the O.A. Even otherwise the whole case of the 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.1,49,60,765.86 (Rupees One Crore Forty Nine Lacs Sixty Thousand Seven Hundred Sixty Five & paisa Eighty Six only) as on 30.06.2023 together with pendentelite and future interest @12.00% per annum with monthly rests from 01.07.2023 till the date of realization and costs; failing which the aforesaid amount shall be recovered from the sale of hypothecated stocks, book Debts and mortgaged property bearing no.D-19 & 20, Rana Pratap Bagh, Delhi measuring 240 sq.yds owned by defendant no.3 and 4. In case of default /

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O.A. No. 71 of 2024

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

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- .?.177"),a

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(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. Gopal Enterprises

Case brief

What is this about?

What did the court decide?

Hdfc Bank v. Gopal Enterprises

Case brief

What is this about?

What did the court decide?

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