Allowed

Kotak Mahindra Bank Limited v. Hardeep Singh

DRT20 Aug 2025OA/2064/2022

Case brief

AI extract

What is this about?

The DRT allowed the bank's application for recovery of loan dues of Rs. 52,73,527.31p with interest against the defendants. The court relied on affidavit evidence to establish the debt and directed issuance of a recovery certificate for sale of mortgaged land and properties.

What did the court decide?

Recovery of Rs. 52,73,527.31p with interest @12% per annum allowed; Recovery Certificate issued; sale of mortgaged land and properties directed.

Kotak Mahindra Bank Limited versus Hardeep 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: 2064/2022 Date of Institution: 04.10.2022 Date of Decision: 20.08.2025

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Kotak Mahindra Bank Limited (erstwhile ING Vyasa Bank Limited) having its branches all over India and a branch at SCO 153-154-155, Sector-9C, Chandigarh.

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……..Applicant

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Vs.

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Hardeep Singh s/o Sh. Dalbir Singh, r/o House No.152, Village Mustafabad Jattan, Tehsil & District Gurdaspur, Punjab.

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Mohinder Kaur w/o Sh. Dalbeer Singh, r/o House No.152, Village Mustafabad Jattan, Tehsil & District Gurdaspur, Punjab.

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Narinder Singh s/o Sh. Santokh Singh, r/o House No.25, Village Mustafabad Jattan, Tehsil & District Gurdaspur, Punjab.

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……….Defendants

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Advocates

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Ms. Harmanpreet Kaur proxy counsel for Sh. Mohit Sareen, Counsel for the applicant bank.

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Defendants - ex parte vide order dated 14.12.2023 .

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OA for the Recovery of Rs.52,73,527.31p with interest @12% per annum with half-yearly rests from 04.10.2022.

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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.52,73,527.31p with interest against Sh. Hardeep Singh and others (defendants).

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Bank’s case is that on 16.10.2013, it had granted a loan of Rs.40.00Lacs to defendant Nos. 1 and 2 in the form of K.C.C Limit for agricultural purpose. To secure the loan, Defendant No. 1 had mortgaged his agricultural land (fully detailed in para No.3A of the application).

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Defendant No.3 stood as guarantor. The loan was chargeable to interest @12% per annum with half-yearly rests. On 30.06.2022, a sum of Rs.52,73,527.31p was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.

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On 16.11.2022, summonses were sent to the defendants by registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 14.12.2023, they were proceeded ex parte . 4. In order to prove its case, the Bank has placed on record the affidavit of Sh. Munish Sharma, Authorized Officer along with the loan and security documents and marked them as Exhibit A-1 to A-12. 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.40.00 Lacs and on 30.06.2022, a sum of Rs.52,73,527.32p was due. 6. Accordingly, the application of the bank for the recovery of Rs.52,73,527.31p (Rupees Fifty Two Lacs Seventy Three Thousand Five Hundred Twenty Seven and Paise Thirty One Only) with interest @12% per annum with half-yearly rests from 04.10.2022, 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 mortgaged agricultural land 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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Pending IAs, if any, stand disposed of. 8. Recovery Certificate be issued accordingly. 9. Parties are directed to appear before Recovery Officer on 29.09.2025, 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(20AB) 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: 20.08.2025 Presiding Officer DRT-1, Chandigarh MANOJ KALRA

Kotak Mahindra Bank Limited v. Hardeep Singh

Case brief

What is this about?

What did the court decide?

Kotak Mahindra Bank Limited v. Hardeep Singh

Case brief

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