HDFC BANK vs ASHESH MULTIMEDIA PRIVATE LIMITED on 5 August 2026

FINAL ORDER

This original application has been filed by the applicant bank, on 24.t2.2021through Mr' Ankush Saini' Senior Manager and Principal Officer of the applicant bank, under Section 19 of the RDB Act, 1993 against the defendants for recovery of a sum of Rs'3,65,13,925'78 together with cost, charges and pendentellite and future interest @18o/o p.a' from date of filing of this O'A' till the realization in full.

2. The brief facts of the case are that at the request of defendant no.1, the applicant bank sanctioned a Cash credit Facility of Rs.150.00 Lakhs, vide sanction letter dated 15.02.2019. The defendant no'1 as borrower and defendant nos'2 and 4 as guarantors signed and executed all necessary loaning documents on 15'02'2019 and 25.02.2019' Again, at the request of defendant no'1' the applicant bank grant of an additional/enhanced credit q(

facilities i.e., Cash Credit (CC) of Rs'250'00 Lakhs and Letter of Credit (Sub- limit of CC) of Rs'50'00 lakhs, vide sanction letter dated 19.02.2020' The defendants executed all necessary loaning documents on 19'02'2020 and 28.02.2020. Again, at the request of defendants, the applicant bank sanctioned Working CapitalTerm Loan of Rs.40,66,969/- under the Emergency Guarantee Credit Lime Scheme (GECL). The defendant no'l executed all necessary loaning documents on 08'08'2020 , 17 '09'2020 and 28.10.2020. Again, at the request of defendant no'1' the applicant bank renewed/enhanced credit facilities to the tune of Rs.3,41,11,000/-, vide sanction lefter dated 25.03.2021. The defendant no'1 as borrower and defendant nos.2 to 4 as guarantors/ signed and executed all necessary loaning documents on 25'03'2021 and 26.03.2021. In consideration of the aforesaid loan facilities, the defendants hypothecated all the stock-in- trade, consisting of raw materials, goods in process of manufacturing, finished goods and other merchandise whatsoever being movable properties' now stored at or being stored or which may hereafter be brought into or stored at the premises, factories or warehouses or at any such place of the Borrower; any of the above which is or may be in course of transit to the Borrower's factory or premises or at any other place whatsoever and wheresoever in the BorroweCs possession or occupation or at any other premises or place, and all the debts that is book debts, outstandings, monies receivable' claims' bills, invoice documents, contract, guarantees and rights which are now due and owing or which may at any time hereafter during the continuance of this security becomes due and owing to the Borrower in the course of its business by any person, firm, company or body corporate c)

or by a government department or olfice or any municipal or local or public or semi-government body or authority or anybody corporate or undertaking or project whatever in the public sector. The defendant no'l as moftgagors, with an intention to create an equitable moftgage in favour of the applicant bank, deposited on 19.04.2010, the title deeds of the propefi owned by them and described as Plot No'60-B' admeasuring 366'66 sq. mtrs, Block-F, situated at SEZ Narshinghapura Dadhiya, Tehsil- Sanganer, Jaipur, Rajasthan-303905' The defendant no'1 as mortgagors, with an intention to create an equitable mortgage in favour of the applicant bank, deposited on 10'04'2019, the title deeds of the property owned by them and described as FlaVUnit Nos' 30land302,SecondFloormPlotNo'140-141'Sukhtija Vihar, JaiPur, Rajasthan-302017'

3. 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 29'06'2021' The applicant bank served a recalUdemand notice dated

22. t2.2021to the defendants but failed to recover the same Thus, the present O'A'ff'A' is preferred by the applicant bank to recover its dues'

4. On notice by this Tribunal, defendans faited to put appearance at all, despite publicaUon' Accordingly' the defendants were 15.10.2025. proceeded against exParte on C)\(

5. The applicant bank has filed evidence by way of affidavit of Mr. Ankush Saini, Senior Manager and Principal Officer of the applicant bank as Annexure - A 1 to Annexure -61, which have gone unchallenged and un- rebutted. Hence, the case of the applicant stands fully established against the defendants with respect to nonpayment of outstanding amount'

6. 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. In the light of the above discussions, the present T'A' deserues to be allowed'

ORDER

1) I hereby allow this T.A' of the applicant bank and direct the defendant nos.1 to 4 to pay jointly and severally to the applicant bank within 30 days from today' a sum of Rs.3,65,13,g25.78 along with cost, expenses and interest @8.75olo from the date of filing of this O'A' which has become T.A till the date of realization'

2) In case of failure to deposit the above amount within the stipulated period, the same shall be recovered from the sale of hypothecated assets and sale of mortgaged properties i.e', Plot No'60-B' admeasuring 366.66 sq. mtrs, Block-F, situated at SEZ Narshinghapura Dadhiya, Tehsil- Sanganer, Jaipur, Rajasthan-303905 and Flat/Unit Nos. 301 and 302, Second Floor' Plot q\

TANO. lO93 of 2022

No.140-141, Sukh'rja Vihar, Jaipur, Rajasthan-302077' In case of short fall, the same shall be recovered from the sale of personal movable and immovable assets of the defendant nos.1 to 4.

3) Recovery Certificate be issued forthwith and be sent to Recovery Officer, Debts Recovery Tribunal-Il, Delhi'

4) The registry of this Tribunal is hereby directed to issue free copy of the order and send the same to both the parties.

5) Parties are directed to appear before the Ld' Recovery Officer, DRT-II, Delhi on 05.10'2026' Pending IAs, if any, stand disPosed of. File be consigned to records. -\ 1' ,2' \ Date : 05.08.2026 (su sH I L rrit'lnn -rrlihocl ) PRESIDING OFFICER DRT-II, Delhi This judgement has been signed, dated and pronounced in oPen court' S,A Date : 05.08.2026 (susHrl KUI6R RASTOGI) PRESIDING OFFICER DRT-II, Delhi