DRT-III Chandigarh allowed the original application filed by HDFC Bank for recovery of loan dues. The tribunal fixed interest at 8% p.a. and directed the issuance of a recovery certificate following ex-parte proceedings due to defendant default.
Recovery of Rs.31,20,139.47 with costs and simple interest at 8% p.a. Recovery Certificate issued.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
DEBTS RECOVERY TRIBUNAL-III, CHANDIGARH
ORIGINAL APPLICATION NO.878/2025
PRESIDED OVER BY MRIDULESH KUMAR SINGH
DATE OF INSTITUTION: 25.06.2025
DATE OF DECISION: 04.02.2026
HDFC Bank Limited, having its Registered Office at Senapati Bapat Marg, Lower Parel (West), Mumbai-400013 also at HDFC Bank House, Plot No. 1-15, Sector 101 Alpha, IT City, Mohali
Also at HDFC Bank Branch, Malout-DCM Complex- G.T. Road, Muktsar, Punjab through its Authorized Representative Sh. Sandeep Garg
……..Applicant Versus
….……Defendants
Advocates:
Argued by Sh. Sanchit Malik, Advocate proxy for Sh. Rajesh Jangra, Advocate for applicant
Defendant already ex-parte vide order dated 05.01.2026
FINAL ORDER
2 OA/878/2025 HDFC BANK VS. HARJIT SINGH & OTHERS
Rs.12.50 Lacs, Farm Development Loan (DOD) of Rs.5.00 Lacs and Overdraft Limit of Rs.12.50 Lacs vide application dated 15.06.2022, which is Annexure A2 to this OA. Defendant no. 3 stood as guarantor. 3. The applicant sanctioned the Agriculture Cash Credit Limits of Rs.13.70 Lacs and Rs.10.23 Lacs and Farm Development Loan (DOD) of Rs.5.00 Lacs vide sanction letters dated 05.07.2022, which are Annexure A3 to this OA and the terms and conditions were duly accepted by the defendants.
Documents executed: Loan agreements for Cash Credit and Farm Development Loan dated 06.07.2022, which are Annexure A4 (Colly) to this OA; Recall Notice dated 29.01.2025, along with Postal Receipts, which are Annexure A6 (Colly) to this OA; Statement of accounts with copy of Certificate under Bankers Books of Evidence which are Annexure A7(Colly) 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.31,20,139.47.00, 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. 6. 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 05.01.2026. 7. In support of the OA, affidavit of Sh. Sandeep Garg, Authorized Representativ e, HDFC Bank, has been filed. 8. Heard ex-parte arguments and perused record
3 OA/878/2025 HDFC BANK VS. HARJIT SINGH & OTHERS
4
OA/878/2025 HDFC BANK VS. HARJIT SINGH & OTHERS
Hundred Thirty Nine and Paise Forty Seven Only) with costs, current and future simple interest @08.00%p.a. in all the loan accounts 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 assets/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 16.02.2026. 15. Copy of this order be given Dasti to the applicant and be sent to defendant 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: 04.02.2026
(MRIDULESH KUMAR SINGH) Presiding Officer, DRT-III, Chandigarh
2 issues framed by the court
Whether the applicant is entitled to recover the outstanding loan amount with interest from the defendants.
What rate of interest should be granted by the Tribunal for pending and future dues.
1 provisions across 1 enactments
HDFC Bank Limited
Sh. Harjit Singh
Sh. Kuldleep Singh
Sh. Yadwinder Singh
Mridulesh Kumar Singh
As recorded by the court registry
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