The Debts Recovery Tribunal allowed the applicant bank's application to recover Rs.90.73 Lakhs with interest from the respondents, who had obtained a loan and failed to repay, directing the sale of mortgaged assets.
Recovery of Rs.90,73,045.24p with interest at 11% p.a.; issuance of Recovery Certificate; direction to sale mortgaged assets.
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IN THE DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH
BEFORE: A S NARANG, PRESIDING OFFICER
OA No: 460/2022 Date of Institution: 30.12.2021 Date of Decision: 24.07.2025
The Jammu and Kashmir Bank Limited having its branches all over India and a branch at TP Sopore, Near Police Station, District Baramulla, Jammu and Kashmir.
Advocates
Sh. Sumit Batra, Counsel for the applicant bank. Defendants- ex parte vide order dated 20.05.2024 .
OA for the Recovery of Rs.90,73,045.24p with interest @11% per annum with monthly rests from 30.12.2021.
ORDER
2
Defendant No.3 had mortgaged his property (fully detailed in para No.3A of the application). The loan was chargeable to interest @11% per annum with monthly rests. On 30.11.2021, a sum of Rs.90,73,045.24p was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.
3
mortgaged land and hypothecated assets 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: 24.07.2025 Presiding Officer DRT-1, Chandigarh MANOJ KALRA
1 issue framed by the court
Whether the bank has established the due of Rs.90,73,045.24p with interest under Section 19 of the RDB Act.
2 provisions across 1 enactments
Jammu and Kashmir Bank Limited
M/s Rather Fruit Agency
Sh. Mumtaz Ahmad Rather
Sh. Wali Mohammad Rather
A S Narang
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
