Allowed

Jammu and Kashmir Bank Limited v. Shri Zaheer Ahmed

DRT23 Dec 2025OA/1004/2023

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal adjudicated an application by Jammu and Kashmir Bank for recovery of Rs.27.50 lakhs plus interest advanced as a term loan to the first respondent with the second respondent as guarantor, allowing the claim and directing issuance of a recovery certificate.

What did the court decide?

Recovery of Rs.27,50,980.44 with interest directed from personal movable and immovable property of both defendants.

Jammu and Kashmir Bank Limited versus Shri Zaheer… — Contract and Commercial Disputes | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH

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BEFORE: A S NARANG, PRESIDING OFFICER

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OA No: 1004/2023 Date of Institution: 15.05.2023 Date of Decision: 23.12.2025

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Jammu and Kashmir Bank Limited having its branches all over India and a branch at Rajouri Main Branch, Opposite Tehsil Office, Main Bazar, Rajouri. (Jammu and Kashmir).

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……..Applicant

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Vs.

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Shri Zaheer Ahmed son of Shri Mohd Munshi, Resident of Ari Mendhar, Poonch. (Jammu and Kashmir).

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Ms. Rukshana Tabassum wife of Shri Mohd. Altaf, Resident of House No. 102, Lane No. 4 Vidhata Nagar, Narwal Bala Bathindi, Jammu. (Jammu and Kashmir)

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……….Defendants

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Advocates

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Sh. Vivek Verma, Counsel for the applicant bank. Defendants - ex parte vide order dated 23.07.2024 .

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OA for the Recovery of Rs.27,50,980.44p with interest @11.35% per annum with monthly rests from 15.05.2023.

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ORDER

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Jammu and Kashmir Bank Limited has filed this application under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993 (RDB Act) for the recovery of Rs.27,50,980.44p with interest against Shri Zaheer Ahmed and another (defendants).

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Bank’s case is that on 16.07.2022, it had granted a loan of Rs.27.00

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Lacs to defendant No.1 in the form of Term Loan for personal consumption. Defendant no.2 stood as the guarantor. The loan was chargeable to interest @11.35% per annum with monthly rests. On 31.03.2023, a sum of Rs.27,50,980.44p was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.

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On 15.06.2023, summonses were sent to the defendants by registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 23.07.2024, they were proceeded ex parte . 4. In order to prove its case, the Bank has placed on record the affidavit of Sh. Ashish Bhasin, Authorized Officer along with the loan and security documents and marked them as Exhibit A-1 to A-10. 5. I have perused the evidence on the record. I am of the considered view that the Bank has proved its case that it had advanced the loan of Rs.27.00 Lacs and on 31.03.2023, a sum of Rs.27,50,980.44p was due. 6. Accordingly, the application of the bank for the recovery of Rs.27,50,980.44p (Rupees Twenty Seven Lacs Fifty Thousand Nine Hundred Eighty and Paise Forty Four Only) with interest @11.35% per annum with monthly rests from 15.05.2023, till the date of payment is hereby allowed with costs. The liability of both the defendants would be joint and several. Bank can recover its dues by the sale from the personal movable and immovable property(ies) of the defendants. 7. Pending IAs, if any, stand disposed of. 8. Recovery Certificate be issued accordingly. 9. Parties are directed to appear before Recovery Officer on 28.01.2026, who is directed to distribute the sale proceeds as per the provisions of Section 19(20-AB) of the Act . 10. A Copy of this order along with Recovery Certificate be sent to the Recovery Officer as well as the parties.

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Pronounced in the open Court.	(A S Narang)
Dated: 23.12.2025	Presiding Officer
MANOJ KALRA	DRT-1, Chandigarh

Jammu and Kashmir Bank Limited v. Shri Zaheer Ahmed

Case brief

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Jammu and Kashmir Bank Limited v. Shri Zaheer Ahmed

Case brief

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