HDFC BANK vs M/S THE NEXT AUTOMOTIVE ERA PRIVATE LIMITED on 28 October 2026

FINAL ORDER

This original application has been filed by the applicant bank, on lB.l2.2O2O through Mr' Anirudh Bhargav, Senior Manager of the applicant bank, under Section 19 of the RDB Act, 1993 against the defendants for recovery of a sum of Rs.82,85,207.09 together with cost, charges and pendentellite and future interest @18o/o from clate of filing of this O.A. till the realization in full.

2. The brief facs of the case are that at the request of defendant no.1, the applicant bank sanctioned a Used Car (AUTAUCL) Facility of Rs'50'00 Lakhs, vide sanction letter dated,24.02.2015' The defendant nos'2 to 4 stood t0 I -Applicant bank

1.

2.

3.

4. Pr#*

TANO. 1053 of 2022 z as personal guarantors. To secure the aforesaid facility by way of equitable mortgage on Commercial propefi being Khewat No.13, Khatoni No.3, Mustatil No.17, Killa No.l7l3ltlLll (1-0) 7 (L-0), 712 (O_2), $llll (O_t4), Mauja-Badoli, New Township, Faridabad 121001 owned by defendant no.4. The defendants executed all necessary loaning documents on 24.02.20t5. Again, at the request of defendant no.1, the applicant bank extend the aforesaid facilities i.e., Used Car (AUTAUCL) Facility of Rs.50,00 Lakhs and Used Car (AUTAUCL) Ad-hoc Vatid till 10th October 2015 Facility of Rs.25.00 Lakhs, vide sanction letter dated 13.07.2015. The defendants executed all necessary loaning documents on 09.07.2015. Again, at the request of defendant no.1, the applicant bank sanctioned the additional facilities i.e., Drop Line Overdraft Facility of Rs.56.49 lakhs, Used Car (AUTAUCL) Facility of Rs,50.00 Lakhs and Used Car (AUTAUCL) Ad-hoc Valid till 10h November 2016 Facility of Rs.25.00 Lakhs, vide sanction letter dated 23.L2.20t5. Again, at the request of defendant no.l, the applicant bank renewed credit facilities i.e., Drop Line Overdraft Facility of Rs.50.00 Lakhs, Used Car (AUTAUCL) Facility of Rs.50.00 Lakhs and Used Car (AUTAUCL) Ad-hoc Valid till 10th November 2017 Facility of Rs.50.00 Lakhs, vide sanction letter dated 27.L2.2016. Again, at the request of defendant no.1, the applicant bank extend/enhanced the credit facilities i.e., Drop Line Overdraft Facility of Rs.50.00 Lallhs, Used Car (AUTAUCL) Facility of Rs.50.00 Lakhs and Used Car (AUTAUCL) Ad-hoc Valid till 05h June 2017 Facility of Rs.50.00 Lakhs, vide sanction letter dated 27.12.20L6. The defendants executed all necessary loaning documents on L6.02.2017 and 17.03.2017. Again, at the request of defendant no.l, the applicant ,so TANO. 1053 of 2022

bank sanctioned Secured Drop Line Overdraft Mortgaged credit facilities of Rs.59 Lakhq vide sanction letter dated 02.09.2017. The defendant executed all necessary loaning documents on 02.09.2017. Again, at the request of defendant no.1, the applicant bank renewed the credit facilities i.e., Used Car (AUTAUCL) Facility of Rs.50.00 Lakhs and Used Car (AUTAUCL) Ad_ hoc Valid till 15u' November 2018 Facitity of Rs.50.00 Lakhs, vide sanction lefter dated 27.LZ.ZOL6. Again, at the request of defendant no.l, the applicant bank extend/renewed the credit facilities i.e., Used Car (AUTAUCL) Facitity of Rs.50.00 Lakhs and Used Car (AUTAUCL) Ad-hoc Vatid tiil 15s November 2019 Facitity of Rs.50.00 Lakhs and Dropline Overdraft (DLOD) of Rs.60.00 Lakhs, vide sanction letter dated 19,03.2019. The defendants executed all necessry loaning documents on 28.11.2019.

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. The applicant bank served a loan recall notice dated 21.09.2020 to the defendants but failed to recover the same Thus, the presept O.A.[I.A. is preferred by the applicant bank to recover its dues.

4. On notice by this Tribunal, defendants put appearance through counsel and filed written statement but failed to .file evidence. Thereafter, the defendants failed to put appearance in the matter. Accordingly, the ) E0

TANO. 1053,of2022

defendants were proceeded against exparte on 16.09.2025.

5. The applicant bank has flled evidence by way of affidavit of Mr. Anirudh Bhargav, Senior Manager of the applicant bank as Annexure A-1A to Annexure A-51, 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 flled 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.82,85,207,09 along with cost. expenses and interest @12.50o/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 i..*.. -\!

TANO. 1053of2022 5 mortgaged propertry i.e., Industrial pioperty being Part of Khewat No.13, Khatoni No.3, Mustatil No.17, Killa No.l7l3lLltl1 (1-0) 7 (t-0), 7lz (0-z), BIUL (O-t4), Mauja-Badoli, New Township, Faridabad 121001, Haryana measuring 100 sq. yards out of a total 200 sq. yards. In case of shoft fall, the same shall be recovered from the sale of personal movable and immovable assets ofthe defendant nos.1 to 4.

3) Recovery Certificate be issued forthwith and be sent to Recovery Officer, Debts Remvery 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 pafties.

5) Pafties are directed to appear before the Ld. Recovery fficer, DRT-II, Delhi on 28.L2.2026. Pending IAs, if any, stand disposed of. File be consigned to records. s .v Date : 28.10.2026 (susHrl KUMAR RASIOGr) PRESIDING OFFICER DRT-II, Delhi This judgement has been signed, dated and pronounced in open court. Date : 28.10.2026 -Yrd,ru (susHrL KUMAR RASTOGT) PRESIDING OFFICER DRT-II, Delhi