Allowed

Hdfc Bank Limited v. Sh. Sandeep Singh and Others

DRT26 Feb 2026OA/738/2024

Case brief

AI extract

What is this about?

The Tribunal allowed an application filed by HDFC Bank Ltd. for recovery of Rs.61.64 Lakhs advanced as an agricultural loan against mortgaged properties. The defendants, who were absent, were declared liable to pay the principal amount along with modified interest, and a Recovery Certificate was issued.

What did the court decide?

Relief allowed in favor of the applicant. Recovery Certificate issued. Respondents ordered to pay principal, costs, and simple interest at 8% p.a.; applicant at liberty to enforce claim against mortga

Hdfc Bank Limited versus Sh. Sandeep Singh and Others — Banking and Recovery | DRT (2026)

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DEBTS RECOVERY TRIBUNAL-III, CHANDIGARH

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ORIGINAL APPLICATION NO.738/2024

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PRESIDED OVER BY MRIDULESH KUMAR SINGH

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DATE OF INSTITUTION: 13.06.2024

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DATE OF DECISION: 26.02.2026

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HDFC BANK LTD. a banking company, carrying on the banking business under the Banking Regulation Act, 1949, incorporated under The Companies Act, 1956 and having its Registered Office at HDFC Bank House, Senapati Bapat Marg, Lower Parel, Mumbai-400013 and branch office amongst other places one at Hussainpur, District Kapurthala (Punjab), through Sh. Dinesh Kumar, Assistant Manager, holder of an attorney from the Applicant.

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……..Applicant

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Versus

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Sh. Sandeep Singh S/o Sh. Avtar Singh, R/o Village Jhalbibri, PO Bhulana, Tehsil and District Kapurthala-144620.

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Smt. Jaswant Kaur W/o Sh. Avtar Singh, R/o Village Jhalbibri, PO Bhulana, Tehsil and District Kapurthala-144620.

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Sh. Gurpreet Sihgh S/o Sh. Raghbir Singh, R/o Village Jhalbibri, PO Bhulana, Tehsil and District Kapurthala-144620.

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….……Defendants

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Advocates:

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Argued by Sh. J.S. Sehgal, Advocate for the applicant

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Defendants already ex-parte vide order dated 09.01.2026.

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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 and Bankruptcy Act, 1993, against the defendants for recovery of Rs.61,64,936.00 (Rupees Sixty One Lacs Sixty Four Thousand Nine Hundred Thirty Six only). The Original Application has been filed through Sh. Dinesh Kumar, Assistant Manager of the applicant, who is competent to institute the Original Application vide Power of Attorney dated 17.01.2024, which is Annexure A1 to this OA.

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OA NO.738/2024 HDFC BANK LIMITED VS. SANDEEP SINGH AND OTHERS

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The brief facts of the OA are that the Defendant No.1 and 2 had approached the applicant for the grant of Agriculture Cash Credit Limit of Rs.50.00 Lacs vide loan application dated 10.11.2014, which is Annexures A2 to this OA. Defendant no. 3 stood as guarantor. 3. The applicant sanctioned the Agriculture Cash Credit Limit of Rs.50.00 Lacs vide sanction letter dated 17.11.2014, which is Annexure A3 to this OA and the terms and conditions were duly accepted by the defendants. 4. Defendant no.1 mortgaged her immovable property i.e. land measuring 64K-02M detailed as under: (i) Land measuring 48K-08M situated at Village Husainabad, Hadbast No. 97, Tehsil and District Kapurthala, Punjab (ii) Land measuring 05K-14M situated at Village Jhal Bibri, Hadbast No. 98, Tehsil and District Kapurthala, Punjab (iii) Land measuring 03K-09M situated at Village Lodhi Bhulana, Hadbast No. 125, Tehsil and District Kapurthala, Punjab (iv) Land measuring 06K-11M situated at Village Saido Bhulana, Hadbast No. 124, Tehsil and District Kapurthala, Punjab vide declaration dated 12.02.2015 u/s 4(1) of Punjab Agricultural Credit Operations and Miscellaneous Provisions (Banks) Act, 1978, which is Annexure A7 to this OA. Documents executed: Agreement for overdraft/cash credit cum guarantee cum hypothecation, Demand Promissory Note, Letter of Continuity for D.P. Note, all dated 16.02.2015, which are Annexures A4 to A6 to this OA; Legal Notice dated 29.03.2024, along with postal receipts, which are Annexures A8 to A11 to this OA and Account statement, which is Annexure A12 to this OA. 5. The loan account became irregular and was classified as NPA and after adjusting debit and credit entries in loan account there was a debit of Rs.61,64,936.00, 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.

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OA NO.738/2024 HDFC BANK LIMITED VS. SANDEEP SINGH AND OTHERS

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The defendants were served notices to appear before this Tribunal but no one appeared on behalf of defendants and they were proceeded ex-parte vide order dated 09.01.2026. 7. In support of the OA, affidavit of Sh. Dinesh Kumar, Assistant Manager, HDFC Bank Ltd. has been filed. 8. Heard ex-arguments and perused record.

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It was argued by learned counsel 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 A12 to this OA, it is proved that the defendants approached applicant for availing of the loan facility which was granted to them and for that they had executed all the relevant documents in favour of the applicant. The defendants failed to pay back the loan as per terms and conditions of the agreement between the parties. Subsequently, account of the defendants was classified as NPA. From the documentary evidence brought on record, it is proved that applicant is entitled to recover a sum of Rs.61,64,936.00 (Rupees Sixty One Lacs Sixty Four Thousand Nine Hundred Thirty Six only) along with interest from the defendants, jointly and severally, from the date of filing of the present Original Application till realization of the account.

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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 @11.00%p.a. with half yearly rests, from 02.10.2023 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 nature of the mortgaged property/hypothecated assets, 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 uniform simple interest

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OA NO.738/2024 HDFC BANK LIMITED VS. SANDEEP SINGH AND OTHERS

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@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. 11. In the result, the application is allowed declaring that the defendants are liable to pay to the applicant a total sum of Rs.61,64,936.00 (Rupees Sixty One Lacs Sixty Four Thousand Nine Hundred Thirty Six 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 from the sale of hypothecated/mortgaged properties of the defendants 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 the claim through due process of law. 12. Any other application pending stands disposed of. 13. Issue Recovery Certificate accordingly. 14. Parties to appear before Learned Recovery Officer of this Tribunal on 16.03.2026. 15. 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: 26.02.2026. (MRIDULESH KUMAR SINGH) Presiding Officer, DRT-III, Chandigarh

Hdfc Bank Limited v. Sh. Sandeep Singh and Others

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Hdfc Bank Limited v. Sh. Sandeep Singh and Others

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