Partly allowed

Hdfc Bank Limited v. Indian Acoustics Privates Ltd.

DRT27 Jul 2026TA/902/2022

Case brief

AI extract

What is this about?

The DRT-II Delhi allowed the bank's original application by the default stance of the borrower, directing recovery of principal, interest and costs within 30 days with a recovery certificate also issued, backed by property attachment if payment is not made.

What did the court decide?

Payment of Rs.12,68,01,973.12 with interest and costs within 30 days or recovery from movable/inmovable assets.

Hdfc Bank Limited versus Indian Acoustics Privates… — Contract and Commercial Disputes | DRT (2026)

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Before SUSHIL KUMAR RASTOGI, Prcsiding (Xficer Debts Recovery Tribunal-Il, Delhi

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TA No.902 OF 2022

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HDFC BANK UMITED VS INDIAN ACOUSTICS PRIVATE LIi,IITED & ORS

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Reserved on : 11.O6.2026

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Pronounced on z 27.07.2026

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HDFC Bank Limited Vs.

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-Applicant bank

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Indian Acoustics Private Limited

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Mr. Amarjit Singh Kalra

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Mrs. Surinder Kaur Kalra

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Mr. Surinder Singh Kalra

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Mrs. Jagjit Kaur Kalra - Defendants

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Present Shri. Ayush Singhal, Counsel appears for applicant bank. Defendants are exparte, since, 18.12.2025.

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FINAL ORDER

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This original application has been filed by the applicant bank, on 22.01.2020 through Mr. Pranav Saxena, Manager and Principal Officer of the applicant bank, under Section 19 ofthe RDB Act, 1993 against the defendants for recovery of a sum of Rs.12,68,0t,973.12 together with cost, charges and pendentellite and future interest @10.15olo p.a. with monthly rests along with default interest @18o/o p.a. from date of filing of this O.A. tillthe realization in full.

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The brief facts of the case are that at the request of defendant no.1, the applicant bank sanctioned a Credit

c).

TANO.9O2o[ 2022

Facility of Rs.28.00 Crores, vide sanction letter dated 29.t1.20t7. The defendant no.l as borrower and defendant nos.2 to 5 as^guarantors, singed and executed all necessary loaning documents on 29.11.2017 and 30.11.2017.

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It is further submitted that the defendants enjoyed and utilized the Loan facilities, but^failed to^{maintain the} financial discipline and failed to repay the due^amounts. The applicant bank requested the defendants^to regularize the loan account by visits and^{letters, but there} was no response from the defendants.^{Hence, the} account was classified as^NPA dated^{30.06.2019.The} applicant bank serued a^{recall notice dated 03.05.2019} and legal demand notice dated^{18.01.2020to the} defendants but failed to^{recoverthe same Thus, the} present O.A.ff.A. is preferred by the applicant bank to recover its dues.

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On notice by this Tribunal,^{defendantsfailed to put} appearance at all,^{despite publication. Accordingly,the} defendants were^{proceededagainst exparteon} t8.L2.2025.

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The applicant bank^{has filed evidenceby way of} affidavit of Mr.^{Pranav Saxena, Legal Manager of the} applicant bank as^{Annexure A-1 to Annexure A-25, which} have gone unchallenged and^{un-rebutted.Hence,the} case of the applicant^{stands fully established againstthe} defendants with^{respect to nonpayment of outstanding} amount. 9ii

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TANO.902of2022 3

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After^perusing the records, this Tribunal is of the view that the applicant bank has^proved its case beyond reasonable doubts. The evidence and documents filed by the applicant bank not rebutted by the defendants by not^placing any evidence and there is^no question of disbelieving the evidence and documents filed by the applicant bank based upon the written/printed documents.

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In the light of the above discussionq the^presentT.A. deserves to be allowed.

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ORDER

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I hereby allow this T.A. of the^{applicant bank and} direct the defendant nos.1^{to 5 to pay jointly and severally} to the applicant bank within 30^{days from today, a sum} of Rs.12,68,0t,973.t2 along^{with cost, expensesand} interest @08.10o/o from the date of^{filing of this O.A'} which has become T.A till the^{date of realization.}

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In case of failure to deposit^{the aboveamount} within the stipulated^{period,the same shall be recovered} from the sale of^{personal movable and immovableassets} of the defendant^nos.1 to^5.

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Recovery Certificate^{be issuedforthwith and be sent} to Recovery Officer,^{Debts Recovery Tribunal-Il,Delhi.}

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The registry of this^{Tribunal is hereby directedto} issue free copy of the^{order and send the same to both} the parties. g.).'

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TANO.902of 2022

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Parties are directed to^{appear before the Ld.} Recovery Officer, DRT-II,^Delhi on^{28.09.2026.Pending} IAs, if any, stand disPosed^of.

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File be consigned to records.

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Date:27.07.2026

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(susHrl^(uuen nAsroct) PRESIDING OFFICER DRT-II, DCIhi

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This^judgement has^{been signed, dated and}

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pronounced in oPen court.

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Date t 27.07.2026

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(susHIL KUMAR RASTOGI) PRESIDING OFFICER DRT-II, Delhi

Hdfc Bank Limited v. Indian Acoustics Privates Ltd.

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Hdfc Bank Limited v. Indian Acoustics Privates Ltd.

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