Allowed

Kotak Mahindra Bank Limited v. Amanbir Singh

DRT15 Dec 2025OA/129/2022

Case brief

AI extract

What is this about?

The Tribunal allowed the bank's application for recovery of Rs.81,17,153/- with interest against four defendants regarding an agricultural loan secured by land mortgage. The defendants appeared ex parte, and the court directed issuance of a recovery certificate and sale of mortgaged land.

What did the court decide?

Recovery of Rs.81,17,153/- with interest @12% p.a. from 19.01.2022; issuance of recovery certificate; sale of mortgaged land and standing crops; appearance date fixed for 20.01.2026.

Kotak Mahindra Bank Limited versus Amanbir Singh — 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: 129/2022 Date of Institution: 19.01.2022 Date of Decision: 15.12.2025

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Kotak Mahindra Bank Limited (erstwhile ING Vyasa Bank Limited) having its branches all over India and a branch at Amritsar Road, Ajnala, Distt. Amritsar, Punjab.

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……..Applicant

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Vs.

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Amanbir Singh s/o Sh. Gurmej Singh, r/o H.No.83, Village Ranewali, Tehsil Ajnala, Distt. Amritsar, Punjab.

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Sukhdev Singh s/o Sh. Dial Singh, r/o H.No.48, Village Ranewali, Tehsil Ajnala, Distt. Amritsar, Punjab.

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Angrej Singh s/o Sh. Dial Singh, r/o H.No.97, Village Ranewali, Tehsil Ajnala, Distt. Amritsar, Punjab.

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Nirmal Singh s/o Sh. Kulwant Singh, r/o H.No.1, Muglani Kot, Tehsil Ajnala, Distt. Amritsar, Punjab.

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……….Defendants

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Advocates

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Sh. J. S. Sehgal, Counsel for the applicant bank. Defendants - ex parte vide order dated 19.04.2024 .

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OA for the Recovery of Rs.81,17,153/- with interest @12% per annum with half-yearly rests from 19.01.2022.

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ORDER

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Kotak Mahindra 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.81,17,153/- with interest against Sh. Amanbir Singh and others (defendants).

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Bank’s case is that on 23.12.2014, it had granted a loan of Rs.70.00 Lacs to defendant Nos. 1 to 3 in the form of K.C.C Limit for agricultural purpose. To secure the loan, Defendant Nos. 2 and 3 had mortgaged their land (fully detailed in para No.3A of the application). Defendant No.4

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stood as guarantor vide guarantee bond dated 26.12.2014. The loan was chargeable to interest @12% per annum with half-yearly rests. On 25.11.2021, a sum of Rs.81,17,153/- was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.

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On 04.05.2022, summonses were sent to the defendants by registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 19.04.2024, they were proceeded ex parte . 4. In order to prove its case, the Bank has placed on record the affidavit of Sh. Munish Sharma, Manager along with the loan and security documents and marked them as Exhibit A-1 to A-20. 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.70.00 Lacs and on 25.11.2021, a sum of Rs.81,17,153/- was due. 6. Accordingly, the application of the bank for the recovery of Rs.81,17,153/- (Rupees Eighty One Lacs Seventeen Thousand One Hundred Fifty Three Only) with interest @12% per annum with halfyearly rests from 19.01.2022, till the date of payment is hereby allowed with costs. The liability of all the defendants would be joint and several. Bank can recover its dues by the sale of mortgaged land fully detailed in para No.3A of the application as well as 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 20.01.2026, who is directed to distribute the sale proceeds of the

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mortgaged land and standing crops as per the provisions of Section 19(20-AB) of the Act .

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A Copy of this order along with Recovery Certificate be sent to the Recovery Officer as well as the parties. Pronounced in the open Court. (A S Narang) Dated: 15.12.2025 Presiding Officer DRT-1, Chandigarh MANOJ KALRA

Kotak Mahindra Bank Limited v. Amanbir Singh

Case brief

What is this about?

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Kotak Mahindra Bank Limited v. Amanbir Singh

Case brief

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