HDFC BANK LIMITED vs SANDEEP MUNNOOLAL on 10 April 2026

**FINAL ORDER**

This original application has been filed by the applicant bank on 20.03.2018 before DRT-III, Delhi and then transferred to DRT-I Delhi under Section 19 of Recovery of Debts Due to Banks and Financial Institutions Act, 1993 against the defendant for recovery of a sum of Rs.20,56,368.05 (Rupees Twenty Lacs Fifty Six Thousand Three Hundred Sixty Eight and paisa Five only) as on 28.02.2018 along with pendentelite and *Sd-*

future interest @15% per annum from 28.02.2018 till the date of its realization and costs.

2. The brief facts of the case are that on the request of the defendant vide loan application dated 25.06.2017, the applicant bank sanctioned Business Loan for a sum of Rs.20,00,000/- (Rupees Twenty Lacs only) on 06.07.2017 @15.00% interest per annum, which was to be repayable in 36 Equated Monthly Installments of Rs.69,331/- each w.e.f. 04.08.2017.

3. That in order to avail the loan facility, the defendant executed Loan Agreement on 06.07.2017 in favour of the applicant bank.

4. It has been submitted by the applicant bank that after availing the loan facility, the defendant failed to maintain financial discipline and comply with the terms and conditions of loan. The applicant bank issued loan recall notice cum termination letter dated 06.03.2018 to the defendant called upon to repay the entire loan advanced with interest etc. but defendant failed to regularize the account. Hence, the applicant bank has approached this Tribunal for recovery of their dues.

5. Notices of this O.A. were issued to the defendant and despite proper service the defendant has chosen to absent from the proceedings. As per order dated 05.05.2025, the defendant has been proceeded ex-parte as not appeared before the Tribunal nor written statement, evidence and affidavit of assets have been filed.

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6. In order to prove its case, the applicant bank has filed its evidence by way of affidavit of Ms Swati Vajjhala, authorized representative of the applicant bank who has proved the documents such as Board Resolution dated 15.04.2023, Loan Application, Loan Agreement, Notice of Demand and Termination along with Postal Receipts and Foreclosure, Statement of Account along with Statutory Certificates marked as Exhibit AW-1/1 to Exhibit AW-1/4 (Colly).

7. The applicant bank 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 same have been duly proved.

8. The case filed by the applicant bank gone unrebutted and there is no question of disbelieving the case of the applicant bank and the applicant bank has proved its case beyond reasonable doubts.

9. In the light of the above discussions, the Original Application deserves to be allowed.

**ORDER**

I, allow this OA and direct the defendant to pay to the applicant bank within a period of 30 days, a sum of Rs.20,56,368.05 (Rupees Twenty Lacs Fifty Six Thousand Three Hundred Sixty Eight and paisa Five only) as on 28.02.2018 along with pendentelite and future interest @15.00% per annum from 28.02.2018 till its realization with costs, failing which the aforesaid amount shall be recovered SD-A

from the sale of movable and immovable properties of the defendant.

(II) The recovery certificate be issued forthwith and be sent to the Recovery Officer, Debt Recovery Tribunal-I, Delhi.

(III) Parties are directed to appear before the Recovery Officer, DRT I, Delhi on 09.06.2026.

(IV) Copies of final order as well as Recovery Certificate be sent to all concerned free of cost.

2026

**(GOVIND BALLABH SHARMA)** **PRESIDING OFFICER** **DRT-I, DELHI**

(Dictated and pronounced in open court) Dated: 10.04.2026