Allowed

Kotak Mahindra Bank Limited v. Sh Gurpinder Singh

DRT5 Dec 2025OA/1552/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the bank's application for recovery of Rs. 68 lakhs with interest pursuant to Section 19 of the RDB Act after finding the loan advanced and dues established, directing joint and several liability and sale of mortgaged property.

What did the court decide?

Recovery of Rs. 68,47,205.238 with interest at 12% allowed; joint and several liability enforced; sale of mortgaged property directed.

Kotak Mahindra Bank Limited versus Sh Gurpinder… — 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: 1552 of 2022 Date of Institution: 30.07.2022 Date of Decision: 05.12.2025

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Kotak Mahindra Bank having its branches all over India and a branch at SCO153-154-155, Basement, Sec-9C, Madhya Marg, Chandigarh.

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……..Applicant

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Vs.

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Sh. Gurpinder Singh s/o Sh. Lakhbir Singh r/o H.no. 129, Village Jastarwal, Tehsil Ajnala, District Amritsar, Punjab.

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Sh. Gurvinder Singh s/o Sh. Lakhbir Singh r/o H.no. 129, Village Jastarwal, Tehsil Ajnala, District Amritsar, Punjab.

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Sh. Lakhbeer Singh s/o Sh. Sohan Singh r/o H.no. 106, Village Jastarwal, Tehsil Ajnala, District Amritsar, Punjab.

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Sh. Ajmer Singh s/o Sh. Ajmer Singh r/o H.no. 717, Village Jastarwal, Tehsil Ajnala, District Amritsar, Punjab.

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Sh. Gurcharan Singh s/o Sh. Beera Singh r/o H.no. 241, Village Jastarwal, Tehsil Ajnala, District Amritsar, Punjab.

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……….Defendants

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Advocates

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Sh. Akshaydeep Singh proxy counsel for Sh. Rajan Puri, Counsel for the applicant bank.

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Defendants - ex parte .

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OA for the Recovery of Rs.68,47,205.238/- with interest @12% per annum with half-yearly rests from 30.07.2022.

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ORDER

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Kotak Mahindra Bank Ltd. (Bank) has filed this application under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993 (RDB Act) for the recovery of Rs.68,47,205.238/- with interest against Sh. Gurpinder Singh and others (defendants).

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Bank’s case is that on 24.06.2014, it had granted a loan of Rs.50.00Lacs to Defendant nos. 1 to 4 in the form of K.C.C. Limit for agricultural purpose. To secure the loan, Defendant nos. 1 to 4 had

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mortgaged their property (fully detailed in para No.3A of the application). Defendant no.5 stood as the guarantor. The loan was chargeable to interest @12% per annum with half-yearly rests. On 30.06.2022, a sum of Rs.68,47,205.238/- was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.

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On 21.10.2022, summonses were sent to the defendants by registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 20.05.2025, they were proceeded ex parte .

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In order to prove its case, the Bank has placed on record the affidavit of Mr. Munish Sharma, Manager along with the loan and security documents and marked them as Exhibit A-1 to A-15. 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.50.00Lacs and on 30.06.2022 a sum of Rs.68,47,205.238/- was due. 6. Accordingly, the application of the bank for the recovery of Rs.68,47,205.238/- (Rupees Sixty Eight Lacs Forty Seven Thousand Two Hundred and Five and Two Hundred Thirty Eight Paise Only) with interest @12% per annum with half-yearly rests from 30.07.2022, 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 property fully detailed in para No.3A of the application as well as from the personal movable and immovable property(ies) of the defendants.

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7.	Pending IAs, if any, stand disposed of.
8.	Recovery Certificate be issued accordingly.

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Parties are directed to appear before Recovery Officer on 07.01.2026, who is directed to distribute the sale proceeds of the mortgaged property(ies) and standing crops 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: 05.12.2025 Presiding Officer DRT-1, Chandigarh Amanpreet (Law Researcher)

Kotak Mahindra Bank Limited v. Sh Gurpinder Singh

Case brief

What is this about?

What did the court decide?

Kotak Mahindra Bank Limited v. Sh Gurpinder Singh

Case brief

What is this about?

What did the court decide?

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