Allowed

Hdfc Bank Limited v. Sh. Harpreet Singh

DRT17 Mar 2026OA/925/2024

Case brief

AI extract

What is this about?

In an Original Application under the RDBA, 1993, the Tribunal allowed the bank's claim for recovery of a personal loan. The defendant failed to appear, and the Tribunal issued a Recovery Certificate, permitting attachment of assets and fixing interest at 8% p.a.

What did the court decide?

Original Application allowed; Recovery Certificate issued; Defendant declared liable to pay principal with 8% simple interest; rights to attach and sell assets.

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

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DEBTS RECOVERY TRIBUNAL-III, CHANDIGARH

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ORIGINAL APPLICATION NO.925/2024

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PRESIDED OVER BY MRIDULESH KUMAR SINGH

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DATE OF INSTITUTION: 15.07.2024

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DATE OF DECISION: 17.03.2026

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HDFC Bank Limited, having its Registered Office at Senapati Bapat Marg, Lower Parel (West), Mumbai- 400013 Also at: Plot no. 1-15, Sector 101, Alpha IT City, SAS Nagar (Mohali) through its Authorized Representative Sh. Rajendra Prasad

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……..Applicant Versus Sh. Harpreet Singh S/o Sh. Kaala Singh, R/o 580/1, B3 Main Street, New Punjabi Bagh, Jagraon, District Ludhiana, Punjab- 142026 ….……Defendant Advocates: Argued by Ms. Manjari Joshi, Advocate proxy for Ms. Dipti Toni, Advocate for Applicant Defendant already ex-parte vide order dated 06.02.2026.

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FINAL ORDER 1. Present Original Application was instituted by the applicant under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993, against the defendant for recovery of Rs.25,80,940.77 (Rupees Twenty Five Lacs Eighty Thousand Nine Hundred Forty & Paise Seventy Seven only). The Original Application has been filed Sh. Rajendera Prasad, Authorized Representative/ Manager Legal of the applicant, who is competent to institute the Original Application vide Board Resolution dated 15.04.2023, which is Annexure A1 to this OA. 2. The brief facts of the OA are that the defendant approached the applicant for grant of Personal Loan of Rs.25.00 Lacs vide Application Form dated 17.03.2023, which is Annexure A2 to this OA. 3. The applicant sanctioned Personal Loan of Rs.25.00 Lacs and terms and conditions were duly accepted by the defendant. Terms and Conditions/Agreement dated 17.03.2023, which is Annexure A3 to this OA.

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2 OA/925/2024 HDFC BANK Vs. HARPREET SINGH

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Documents executed: Statement of Account, which is Annexure A4 to this OA; Notice dated 03.07.2024, along with postal receipt, which are Annexure A5 and A6 to this OA.

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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.25,80,940.77, which is recoverable and the defendant was served recall notice but he did not repay the outstanding amount, therefore, the applicant requested to accept the application and to issue Recovery Certificate accordingly.

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The defendant was served notices to appear before this Tribunal but no one appeared on behalf of defendant and he was proceeded exparte on 06.02.2026. 7. In support of the OA, affidavit of Sh. Rajendera Prasad, Manager Legal, HDFC Bank Limited, has been filed. 8. Heard ex-parte arguments and perused record. 9. It was argued by learned proxy counsel through 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 Annexure A1 to A6 to this OA, it is proved that the defendant approached applicant for availing of the loan facility which was granted to him and for that he had executed all the relevant documents in favour of the bank. The defendant failed to pay back the loan as per terms and conditions of the agreement between the parties. Subsequently, account of the defendant was classified as NPA. From the documentary evidence brought on record, it is proved that applicant is entitled to recover a sum of Rs.25,80,940.77 (Rupees Twenty Five Lacs Eighty Thousand Nine Hundred Forty & Paise Seventy Seven only) along with interest from the defendant, from the date of filing of the present Original Application till realization of the account. 10. In so far as pendent lite and future rate of interest is concerned, the applicant in relief clause has claimed [email protected]%p.a. from the date of filing of this application till realization. The Tribunal is of the considered opinion that sometimes in appropriate cases the prerogative of mercy is the brightest jewel in the

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3 OA/925/2024 HDFC BANK Vs. HARPREET SINGH

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crown of the Judge. Keeping in view the facts and circumstances of the instant case including undertaking of the defendant, 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 @08.00%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 defendant is liable to pay to the applicant a total sum of Rs.25,80,940.77 (Rupees Twenty Five Lacs Eighty Thousand Nine Hundred Forty & Paise Seventy Seven only) with costs, current and future simple interest @08.00%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 by attachment and sale of personal assets of the defendant. 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 07.04.2026. 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: 17.03.2026 (MRIDULESH KUMAR SINGH) Presiding Officer, DRT-III, Chandigarh

Hdfc Bank Limited v. Sh. Harpreet Singh

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Hdfc Bank Limited v. Sh. Harpreet Singh

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