Allowed

Hdfc Bank Limited v. M/S Aman Transport Company and Others

DRT9 Jul 2026OA/908/2024

Case brief

AI extract

What is this about?

In an ex-parte hearing, the DRT allowed the bank's Original Application under RDBA 1993 for recovery of a defaulted overdraft facility. The Tribunal decreed payment of principal and reduced interest at 8% p.a., declaring the defendants jointly and severally liable and ordering issuance of a Recovery Certificate for execution against mortgaged and personal assets.

What did the court decide?

Decree for payment of Rs.49,74,302.60 plus interest at 8% p.a.; issue of Recovery Certificate for enforcement against mortgaged and personal assets.

Hdfc Bank Limited versus M/S Aman Transport Company and Others — Banking and Recovery | DRT (2026)

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DEBTS RECOVERY TRIBUNAL-III, CHANDIGARH

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ORIGINAL APPLICATION NO.908/2024

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PRESIDED OVER BY MRIDULESH KUMAR SINGH

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DATE OF INSTITUTION: 17.08.2022

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DATE OF DECISION: 09.07.2026

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HDFC Bank Limited, a Banking Company, duly incorporated and registered under the Companies Act, 1956 having its Registered Office at HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai 400013 (hereinafter referred to as "the Bank") and amongst other branches, having one of its Branch Office at Millerganj Ludhiana through its duly constituted Attorney Sh. Sunil Kalra, Manager Legal, HDFC Bank, Plot No- 28, First Floor, Industrial Area, Phase-I, Chandigarh.

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……..Applicant

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Versus

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M/s Aman Transport Co., A Proprietorship Firm, through its Proprietor Sh. Abhay Kumar S/o Sh. Sachchidanand Singh having its place of business at property bearing plot no. 30, Transport Nagar, Ludhiana.

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Sh. Abhay Kumar Singh S/o Sh. Sachchidanand, R/o B-621/4 Rajan Street Bazaar, Near Bhatia Bakery, Kharatiyan, New Maliganj Chownk, Ludhiana.

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Smt. Archana Singh W/o Sh. Abhay Kumar Singh, R/o B-621/4 Rajan Street Bazaar, Near Bhatia Bakery, Kharatiyan, New Maliganj Chownk, Ludhiana.

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M/s Himanshu Fabrics, A Proprietorship Firm, through its Proprietor Smt. Archana Singh W/o Sh. Abhay Kumar, having its place of business at property bearing plot no. 170, Transport Nagar, Ludhiana.

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……..Defendants

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Advocates:

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Argued by Sh. Harinder Kumar, Advocate for the applicant

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None for defendants (Already ex-parte vide order dated 07.07.2026).

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2 OA NO.908/2024 HDFC BANK LTD. VS M/S AMAN TRANSPORT COMPANY AND OTHERS

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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 & Bankruptcy Act 1993, against the defendants for recovery of Rs.49,74,302.60 (Rupees Forty Nine Lacs Seventy Four Thousand Three Hundred Two and Paise Sixty Only). The Original Application has been filed throug h Sh. Sunil Kalra, Manager Legal of the applicant, who is competent to institute the Original Application vide Board Resolution dated 16.10.2021, which is Annexure A1 to this OA.

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The brief facts of the OA are that the defendant no. 1 through its proprietor defendant no. 2 approached the applicant for grant of Overdraft Facility of Rs.35,00,000.00 vide Application Form dated 16.04.2019, which is Annexure A2 to this OA.

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The applicant sanctioned the Overdraft Facility of Rs.35,00,000.00 vide Sanction Letter dated 08.05.2019, which is Annexure A3 to this OA and the terms and conditions were duly accepted by the defendants. Defendant nos. 2 & 3 and defendant no. 4 through its proprietor defendant no. 3 stood as guarantors.

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Defendant no. 2 mortgaged his Immovable Property i.e., Residential Property measuring 900 Square Feet having No. as B- 621/4, Rajan Street Bazaar, Near Bhatia Bakery, Kharatiyan, New Maliganj Chowk, Ludhiana vide Original Sale Deed bearing Vasika No. 17033 dated 05.02.2010, along with its translation and Memorandum Recording Past Transactions of Creation of Mortgage by Delivery of Title Deeds dated 10.05.2019, which are Annexures A5 & A6 to this OA.

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Documents executed: Master Facility Agreement dated 08.05.2019, which is Annexure A4 to this OA; Letter of Continuing Guarantee dated 08.05.2019, which is Annexure A7 to this OA; Loan Recall Notice dated 12.08.2021, 28.10.2021, along with postal receipts, which are Annexures A8 & A11 to this OA; Statement of Account

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3 OA NO.908/2024 HDFC BANK LTD. VS M/S AMAN TRANSPORT COMPANY AND OTHERS

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along with certificate and calculation sheet, which areAnnexures A9 & A10to this OA.
5. The loan account became irregular and was classified as NPA
and after adjusting debit and credit entries in the loan account there
was a debit of Rs.49,74,302.60, 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 summons to appear before this
Tribunal but no one appeared on behalf of defendants and they were proceeded ex-parte vide order dated 07.07.2026.
7. In support of the OA, affidavit ofSh. Sunil Kalra, Manager Legal,
HDFC Bank Limited has been filed.
8. Heard ex-parte arguments and perused record.
9. It was argued by learned counsel for applicant that in view of
the documentary evidence brought on record which had gone
unrebutted, the applicant bank had proved its case. From the perusal of all theAnnexures A1 to A11to this OA, it
is proved that the defendant no.1 through its proprietor defendant no.
2 approached applicant for availing of loan facility which was granted
to them, defendant nos. 2 & 3 and defendant no.4 through its
proprietor defendant no.3 stood as guarantors and for that they had
executed all the relevant documents in favour of the bank. The
defendants failed to pay back the loan as per terms and conditions of
the agreement between the parties. Subsequently, loan account was
classified as NPA. From the documentary evidence brought on record,
it is proved that applicant bank is entitled to recover a sum of
Rs.49,74,302.60 (Rupees Forty Nine Lacs Seventy Four Thousand
Three Hundred Two and Paise Sixty 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.

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4 OA NO.908/2024 HDFC BANK LTD. VS M/S AMAN TRANSPORT COMPANY AND OTHERS

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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 @18.00% p.a. with monthly rests from 01.08.2022 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, 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 simple interest @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.

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In the result, the application is allowed declaring that the defendants are liable to pay to the applicant sum of Rs.49,74,302.60 (Rupees Forty Nine Lacs Seventy Four Thousand Three Hundred Two and Paise Sixty Only), along with interest, 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 mortgaged property of defendant no. 2 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.

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12. Any other application pending stands disposed of .

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Issue Recovery Certificate accordingly.

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Parties to appear before Learned Recovery Officer of this

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Tribunal on 24.07.2026.

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Copy of this order be given dasti to the applicant and be sent to defendants through registered/speed post and this order be also

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5 OA NO.908/2024 HDFC BANK LTD. VS M/S AMAN TRANSPORT COMPANY AND OTHERS

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uploaded on the official website of this Tribunal and record be consigned. Pronounced by me in the open Tribunal . Dated: 09.07.2026

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

Hdfc Bank Limited v. M/S Aman Transport Company and Others

Case brief

What is this about?

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Hdfc Bank Limited v. M/S Aman Transport Company and Others

Case brief

What is this about?

What did the court decide?

What the court decided

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