This order dismissed the defenseless application ex parte and allowed the bank's OA for recovery of Rs. 1.54 crore plus interest under Section 19 RDB Act, directing issuance of a Recovery Certificate.
Application allowed for recovery of Rs. 1,54,45,120/- with interest; Recovery Certificate issued.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
IN THE DEBTS RECOVERY TRIBUNAL-II, CHANDIGARH
BEFORE: A S NARANG, PRESIDING OFFICER
OA No: 329/2022 Date of Institution: 05.02.2022 Date of Decision: 07.07.2025
ICICI Bank Limited at 1st Floor, Near N.K. Sharma Office Chandigarh Ambala National Highway, Zirakpur, District SAS Nagar, Punjab
……..Applicant
Vs.
……….Defendants
Advocates
Sh. Manav Singal proxy counsel for Sh. D.K. Singal, Counsel for the applicant bank. Defendants- ex parte .
OA for the Recovery of Rs.1,54,45,120/- with interest @10.05% per annum with monthly rests from 05.02.2022.
ORDER
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defendants for purchase of vehicles/equipments (fully detailed in para No.6(b) of the application) and ECLGS Facility of Rs.25,64,000/- on 28.08.2020. The Term Loan-I was chargeable to interest @10.70% per annum with monthly rests, Term Loan-II was chargeable to interest @10.05% per annum with monthly rests and ECLGS Facility was chargeable to interest @9.25% per annum with monthly rests. On 06.09.2021, a sum of Rs.1,54,45,120/- was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.
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| well | as from the personal movable and immovable property(ies) of the |
|---|---|
| defen | dants. |
| 7. | Pending IAs, if any, stand disposed of. |
| 8. | Recovery Certificate be issued accordingly. |
| 9. | Parties are directed to appear before Recovery Officer on |
| 11.08 | **.2025,**who is directed to distribute the sale proceeds as per the |
| provi | sions of Section 19(20-AB) of the Act**.** |
| 10. | A Copy of this order along with Recovery Certificate be sent to |
| the R | ecovery Officer as well as the parties. |
| Pron Date |
ounced in the open Court. (A S Narang) d: 07.07.2025 Presiding Officer DRT-2, Chandigarh (Additional charge) |
1 issue framed by the court
Whether the application for recovery of dues is maintainable under Section 19 RDB Act, 1993.
2 provisions across 1 enactments
ICICI Bank Limited
Sh. Bijender Singh
Smt. Vimla Devi
A S Narang
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
