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HDFC Bank Limited V/S KPG International Private Limited and Others.


    O.A. No. 363 of 2019

    Decided On, 04 January 2020

    At, Debts Recovery Tribunal Delhi

    By, THE HONORABLE JUSTICE: DHARMINDER SINGH
    By, (PRESIDING OFFICER)

    For Petitioner: Pallavi, Ld. Counsel



Judgment Text


1. This original application has been filed by the applicant bank, on 08.03.2019, through Mr. Ritesh Kumar, Manager, under Section 19 of the Recovery of Debts Due to Banks and Financial Institution Act, 1993 against the defendants for recovery of a sum of Rs. 25,85,954.79/- (Rupees Twenty-Five Lacs Eighty-Five Thousand Nine Hundred Fifty-Four and Paise Seventy-Nine Only) along with pendente lite and future interest @ 18% p.a. from the date of filing of the present original application till its realization in full.

2. The brief facts of the case are that at the request of the defendants the applicant bank sanctioned business loan of Rs. 35,00,000/- and was repayable 36 equated monthly installments Rs. 1,23,050/-. In order to avail the aforesaid facility, the defendants executed, certain loan documents such as loan agreement, loan application etc.

3. It has further been submitted by the applicant bank that after availing the aforesaid loan facilities, the defendants failed to comply with the terms and conditions and despite of several requests and reminders the defendants failed to pay the outstanding dues and monthly installments in time to the applicant bank. Ultimately, the applicant bank sent loan recall notice dated 23.02.2018 calling upon the defendants to pay the entire outstanding dues to the applicant bank but the defendants did not clear the dues of the applicant bank and hence the applicant bank has approached this Tribunal for recovery of their dues.

4. Notices of this O.A. were issued to the defendants and despite service the defendants failed to appear before this Tribunal and accordingly, they were proceeded ex parte vide order dated 18.11.2019.

5. To prove its case, the applicant bank leads its evidence by filling the affidavit of AW-1 Mr. Ritesh Kumar - Manager, who has exhibited the documents as EX. AW-1 which are inclusive of power of attorney as EX. AW-1/1, loan application forms as EX. AW-1/2, loan agreement as EX. AW-1/3, notice dated 23.03.2019 along with original postal receipts as EX. AW-1/4, delivery reports downloaded as EX. AW-1/5 and statement of account as EX. AW-1/6.

6. The witness has fully corroborated the averments made in the O.A. Even otherwise the whole case of the applicant bank is based on the documents and the witness has duly proved all these documents. The evidence filed by the applicant bank gone unrebutted and there is no question of disbelieving the evidence lead by the applicant bank and applicant bank has proved its case beyond reasonable doubts. Accordingly, the bank is entitled to recover the entire amount alongwith pendente lite interest and future costs as agreed between the parties. I hereby allow this O.A. as the applicant bank has proved its claim beyond any doubt.

ORDER

(i). I allow this OA and direct the defendants No. 1 to 3 to pay to the applicant bank jointly or severally, within a period of 30 days, a sum of Rs. 25,85,954.79/- (Rupees Twenty-Five Lacs Eighty-Five Thousand Nine Hundred Fifty-Four and Paise Seventy-Nine Only) along with pendente lite and future interest @ 18% p.a. from the date of filing of the present original application till its realization in full; failing which the aforesaid amount shall be recovered from the sale of the personal movable and immovable assets/properties of the defendants No. 1 to

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3. (ii). The recovery certificate be issued forthwith and be sent to the Recovery Officer-I, Debts Recovery Tribunal-III, Delhi. (iii). Parties are directed to appear before the Recovery Officer-I, DRT-III, Delhi on 13.02.2020. (iv). Copies of final order be sent to all concerned free of cost. File be consigned to records.
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