of Rs.20,38,136.14p was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application. 3. On 28.10.2022, summonses were sent to the defendants by registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 19.05.2023, they were proceeded ex parte . 4. In order to prove its case, the Bank has placed on record the affidavit of Mr. Amrish Salathia, Senior Manager along with the loan and security documents and marked them as Exhibit A-1 to A-6. 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.24.00Lacs and on 31.08.2022, a sum of Rs.20,38,136.14p was due. 6. Accordingly, the application of the bank for the recovery of Rs.20,38,136.14p (Rupees Twenty Lacs Thirty Eight Thousand One Hundred and Thirty Six and Fourteen Paise Only) with interest @9.05% per annum with monthly rests from 06.10.2022, 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 hypothecated vehicle bearing registration no. JK03G2564 fully detailed in Annexure3(Colly) 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 10.10.2025, who is directed to distribute the sale proceeds of the hypothecated vehicle as per the provisions of Section 19(20-AB) of the Act .
