Debts Recovery Tribunals and Appellate Tribunals
HDFC BANK LIMITED vs MR KALPESHKUMAR DHIRAJLAL KOTHARI AND ORS on 9 October 2026
BEFORE THE DEBTS RECOVERY
APPELLATE TRIBUNAL, AT: MUMBAI
Present: Justice Vivek Bharti Sharma, Chairperson M.A. No. 23/2024
Between
HDFC Bank Limited
… Appellant/s
V/s.
Mr. KalpeshKumar Dhirajlal Kothari & Ors.
…Respondent/s
-: Order dated: 09/10/2026: -
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1. Present as under: Mr. Sharad Pai i/b M/s. V. Merchant & Co., Counsel for Appellant. Mr. Vishal Tambe, Counsel for Respondents.
2. The Learned Counsel for the Applicant would submit that Respondent No. 1, Mr. Kalpesh Kumar, was the original borrower from the applicant bank and the Respondent Nos. 2, 3, 4, 5, 6 & 7 were the guarantors/mortgagors. The Learned Counsel for Applicant would further submit that the borrower has filed the Appeal (Diary) No. 922/2023 and deposited Rs. 1,05,00,000/- as part of the mandatory pre-deposit and thereafter this appeal was rejected vide order dated 29.01.2024.
He would further submit that the liability of the Respondent No. 1/Borrower and other Respondents/Guarantors have not been discharged by them and this money is lying in the DRAT and same be refunded in the part discharge of the debt of the Respondent No. 1/Borrower due towards the Applicant Bank.
3. Mr. Vishal Tambe, Counsel for the third party/intervener would submit that he is the third party who has deposited this money behalf of the borrower.
He would, however, submit that he has filed Misc. Application Diary No. 420/2024 for refund of this money back to the Applicant of this application/third party who had deposited the part of the mandatory deposit on behalf on the borrower in compliance of the section 18 of the SARFAESI Act for filing the Misc. Appeal (Diary) bearing no. 922/2023.
He would further submit that this application of the intervener/third party at Diary No. 420/2024 is still under objections and the objections have not been removed.
This application is pending since 29.07.2024 which is observed in this order of the Hon’ble Predecessor Chairperson.
4. The Counsel for the intervener would further submit that he has not filed any authority on behalf of Respondent No. 1/Borrower to file this application.
5. In reply to the same, the Counsel for the Respondent would submit that Mr. Sanjay Anabhawane does not have any locus standi to file any application and that too when the objections of the application have not been removed since 29.07.2026.
He further prays for time that the refund of mandatory deposit under section 18 of the SARFAESI Act can be made to the secured creditor without express of consent of the debtor/Appellant.
List the case on 02.02.2027 for hearing. Sd/-
Chairperson 09.10.2026
VKC-05