Allowed

Central Bank of India v. M/S Kissan Dairy

DRT18 Aug 2025OA/15/2023

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the applicant bank's ex parte application for recovery of loan dues. The court found the bank proved its case, ordered the defendants liable for Rs.23,71,262/- with interest, and directed the issuance of a Recovery Certificate and assets distribution. Quality: ok

What did the court decide?

Recovery of Rs.23,71,262/- with interest allowed; Recovery Certificate issued; matter remanded to Recovery Officer for asset sales and distribution.

Central Bank of India versus M/S Kissan Dairy — Company and Corporate | 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: 15/2023 Date of Institution: 28.11.2022 Date of Decision: 18.08.2025

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Central Bank of India having its branches all over India and a branch at Civil Lines Branch, Bathinda, District Bathinda, Punjab.

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……..Applicant

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Vs.

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M/s Kissan Dairy proprietorship firm through Sh. Sukhpreet Singh Atwal, sole proprietor, 765 Basti, No.3, Bir Talab Nehar, Bathinda, Punjab.

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Sh. Sukhpreet Singh Atwal s/o Sh. Kulwant Singh, Proprietor of M/s Kissan Dairy, r/o 765 Basti, No.3, Bir Talab Nehar, Bathinda, Punjab.

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……….Defendants

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Advocates

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Sh. Omkar Gupta, Counsel for the applicant bank. Defendants - ex parte vide order dated 24.11.2023 .

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OA for the Recovery of Rs.23,71,262/- with interest @9.85% per annum with monthly rests from 28.11.2022.

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ORDER

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Central Bank of India has filed this application under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993 (RDB Act) for the recovery of Rs.23,71,262/- with interest against M/s Kissan Dairy and another (defendants).

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Bank’s case is that on 31.03.2021, it had granted a C.C. Limit of Rs.14.25 Lacs and a Term Loan of Rs.9.50 Lacs to defendant No.1 through its proprietor i.e. defendant No.2 for Business purpose. To secure the loans, Defendant No.1 had hypothecated assets, shed animals, goods, furnished and semi furnished raw material lying at the place of unit (fully detailed in para No.3A of the application). The loans were chargeable to

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interest @9.85% in Term Loan and @9.70% in C.C. Limit per annum with monthly rests. On 11.11.2022, a sum of Rs.23,71,262/- was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.

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On 11.01.2023, summonses were sent to the defendants by registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 24.11.2023, they were proceeded ex parte . 4. In order to prove its case, the Bank has placed on record the affidavit of Sh. Tej Bahadur, Manager along with the loan and security documents and marked them as Exhibit A-1 to A-9. 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.23.75 Lacs (Rs.14.25 Lacs in C.C. Limit and Rs.9.50 Lacs in Terms Loan) and on 11.11.2022, a sum of Rs.23,71,262/- was due. 6. Accordingly, the application of the bank for the recovery of Rs.23,71,262/- (Rupees Twenty Three Lacs Seventy One Thousand Two Hundred Sixty Two Only) with interest @9.85% in per annum with monthly rests from 28.11.2022, 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 of hypothecated assets 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 25.09.2025, who is directed to distribute the sale proceeds of the

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hypothecated assets, shed animals, goods, furnished and semi furnished raw material 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. Pronounced in the open Court. (A S Narang) Dated: 18.08.2025 Presiding Officer DRT-1, Chandigarh MANOJ KALRA

Central Bank of India v. M/S Kissan Dairy

Case brief

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Central Bank of India v. M/S Kissan Dairy

Case brief

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