Allowed

Ms Power Solution v. Hdfc Bank

DRT12 May 2026SA/349/2026

Case brief

AI extract

What is this about?

The Debt Recovery Tribunal disposed of an Original Application and a Securitization Application. The court accepted the liability admitted by the partnership firm. The total sum was decreed with interest and an instalment payment plan approved.

What did the court decide?

Original Application disposed as allowed for Rs. 1,32,40,983.75/- plus interest; Securitization Application disposed with liberty to pay charges in installments. Default invites securitization proceed

Ms Power Solution versus Hdfc Bank — Banking and Recovery | DRT (2026)

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Court of the Presiding Officer Debts Recovery Tribunal, Jaipur

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Item No. 51

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Case No.OA/1367/2025

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HDFC BANK Vs M/S POWER SOLUTION

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Date: 12.05.2026.

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Proceedings through hybrid mode:

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Present:

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Ms. Saloni Agarwal, Counsel for the applicant

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Shri R N Vijay, Counsel for the Defendant no. 1, 2 and 4

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None for defendant no. 3

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Item No. 40

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Case No.SA/349/2026

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MS POWER SOLUTION Vs HDFC BANK

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Proceedings through hybrid mode:

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Present:

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Shri R N Vijay, Counsel for the applicant

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Shri Vineet Sharma, Counsel for the Respondent

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In this Original Application, summons were served to Ritika Vaswani through her husband, but she has chosen not to appear.

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The connected Securitization Application is listed today at item no. 40. During the course of argument, when the matter of SA was taken up, it was submitted by the counsel for SA applicant that they do not want any waiver and shall pay dues of the bank. Rs. 10.00 Lac were paid, balance amount is not paid.

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Court of the Presiding Officer Debts Recovery Tribunal, Jaipur

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Today counsel for defendant no. 1, 2 and 4 admits the liability. The absentee defendant is not partner, they are only mortgagors. Liability is admitted by the partnership firm by other partners.

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The original application has been filed against the firm as defendant no. 1 and defendant no. 2 and 4 are partners. In view of the clear admission being made, the original application stands disposed of as allowed for a sum of Rs. 1,32,40,983.75/- and pendalite and future interest from 01.08.2025 @ 9.05% monthly rest. Amount already paid shall be adjusted.

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The charges of action being taken by the bank under securitization shall also be paid by the borrower/the defendant as a cost of this securitization, amount to be paid in installments by 30.09.2026. It is made clear that if amount is not paid, then the bank will be at liberty to proceed under securitization.

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At this stage, counsel for the defendant submits that he will pay Rs. 10.00 Lac in June, further Rs. 10.00 Lac in July and remaining amount by 25.09.2026.

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Counsel for the respondent bank in SA submits that not more than two months shall be granted.

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The purpose of the bank is to recover the dues and Tribunal has got ample power to grant time even if the recovery

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Court of the Presiding Officer Debts Recovery Tribunal, Jaipur

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certificate is issued, this Tribunal has got the power to extend time under RC also.

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The bank to consider issuing NOC in the Vehicle loan account in which the entire payment has already been made. He submits that he will sell the vehicle and deposit the amount in this account only.

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In view of this order, SA stands disposed of, liberty is given to all the parties to move application in case of any exigency. In case of single default, the bank will be at liberty to proceed ahead under securitization from the place where it has been left today.

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Accordingly, SA and OA stands disposed of, all pending IAs also stands disposed off, if any.

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File be consigned to record as per rules. Copy of order be uploaded on website.

¶35

(Vimal Gupta) Presiding Officer Debts Recovery Tribunal, Jaipur

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Ms Power Solution v. Hdfc Bank

Case brief

What is this about?

What did the court decide?

Ms Power Solution v. Hdfc Bank

Case brief

What is this about?

What did the court decide?

What the court decided

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