HDFC BANK LIMITED vs M/S NUCON APPLIANCES on 2 September 2026

FINAL ORDER

This original application has been filed by the applicant bank, on 30.03'2022 through Mr' Anirudh Bhargav, Assisbant Vice President of the applicant bank' under Section 19 of the RDB Act, 1993 against the defendants for recovery of a sum of Rs'1,24,03,227'04 together with cost, charges and pendentellite and future interest @18.00o/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 the defendant no.1 through defendant no.2 requesting the applicant bank to take over the facilities being availed by them from Axis Bank, vide applicationJgm dated 20'12'2013 and to €\ Shri Ronnie S. Brara, Counsel appears for applicant bank. Deiendants are exparte, since, 20.05'2026'

further avail credit facilities in the form of Cash Credit' the applicant bank agreed to take over the facilities and sanctioned a Credit facilities i.e., Cash Credit Facility of Rs.500 Lakhs and LC/BC (Sub Limit of CC) of Rs'300 Lakhs- Total of Rs.500 Lakhs. The aforesaid facilities were secured by way of the securities i'€', (a)' Hypothecation of current assets of the defendant no'1'

(b) . Equitable mortgage on property bearing J-1215' Ground Floor, Rajouri Garden owned by defendant nos'2 and 3. (c). Equitable mortgage on property being Entire Ground Floor in a 4 story building on property bearing no.4ll2, Subhash Nagar, New Delhi owned by the defendant nos.2 and 3. (d)' Negative Lien upon Industrial Property bearing Khasra No'38, Land Measuring 88 Sq' yds (Known as Plot No.121) situated in Lal Dora 1908-09' area of Village Dabri, known as Dabri Industrial Area' Delhi-110045 owned by defendant no'4' (e)' Negative Lien upon Industrial Property bearing Khasra No'38' Land Measuring 61 Sq. yds (Known as Plot No'30) situated in Lal Dora 1908-09, area of Village Dabri' known as Dabri Industrial Area, Delhi-l10045 owned by defendant no'3'

(f) . Personal guarantees by defendant nos'2 to 4' The defendantsexecutdallnecessaryloaningdocumentson 2g.Ot.2OL4, 30.0 1.20 14, 3 1'0 1' 2014 and 26'02'20L4' Again, at the request of defendants' the applicant bank renewed/sanctioned the credit facilities i'e'' Cash Credit Facility of Rs.500 lakhs, WCDL Sub Limits of Rs'300 lakhs' Letter of Credit Sub Limits of Rs'300 Lakhs and Buyers Credit Sub Limits of Rs.300 Lakhs-Total of Rs'500 Lakhs' Again, at the request of defendants' the applicant bank renewed/enhanced the aforesaid facilities time to time and lastly was renewed/enhanced on 13'03'2019 of Rs.600 Lakhs. Again, at the request of defendants' the <\

TA NO. 92 of 2023 applicant bank sanctioned a Government Emergency Credit Line (GECL) of Rs'1,14,45,3431-' vide sanction letter dated 07.07.2020'The defendant nos'2 to 4 stood as guarantors. The defendant no'5 is another proprietorship concern of the defendant no'2 which has also secured by mortgage of the same properties used to secure the present facilities and defendant no'5 as a Co- borrower. The aforesaid facilities were also secured by way of aforesaid securities' The defendants executed all necessary loaning documents on 08'07'2020' 09'12'2020 and 14.01'2021'

3. It is further submifted that the defendants enjoyed andutilizedtheLoanfacilities,butfailedtomaintainthe financialdisciplineandfailedtorepaythedueamounts. 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 06'09'2021' The applicant bank served a loan recall notice dated 2l.O2.2[22to 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' defendants faited to put appearance at all, despite publication' Accordingly' the defendantswereproceededagainstexpafteon 20.05.2026.

5. The applicant bank has flled evidence by way of affidavitofsh.AnirudhBhargav,AssistantVicePresident of the applicant bank as Annexure A-1 to Annexure A-51' which have gone unchallglrged and un-rebutted' Hence' (}.

TANO.92of2023 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 flted by the applicant bank not rebutted by the defendants by not placing any evidence and there is no question of disbetieving the evidence and documents filed by the applicant bank based upon 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.1,24,03,227.04 along with cost' expenses and interest @12.25o/o 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 the sale of mortgaged properties i'e', (a)' Property bearing J-t215' Ground Floor, RajouriGarden' (b)' Property being Entire Ground Floor in a 4-story building on property bearing no.4lt2, Subhash Nagar, New Delhi' (c)' Industrial Propefi bearing Khasra No'38, Land Measuring 88 Sq' yds (Known as Plot No'1-21) situated in Lal Dora 1908-09' the written/Printed EA

area of Village Dabri, known as Dabri Industrial Area' DelhF110045. (d). Industrial Property bearing Khasra No.38, l-and Measuring 61 Sq' yds (Known as Plot No'30) situatedinLalDoralgos-Og,areaofVillageDabri'known as Dabri Industrial Area, Delhi-110045' 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

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 O2'Ll'2026' Pending IAs, if anY, stand disPosed of' File be consigned to records' q; Date : 02.09.2026 (susHIL KUMAR'RlSroGI) PRESIDING OFFICER DRT-II, Delhi This judgement has been signed' dated and pronounced in oPen court'

:sA ( susHl L rtirlnn iHhocr) PRESIDING OFFICER DRT-II, Delhi Date : 02.09'2026