Allowed

Indian Bank (Allahabad Bank) v. Bimla Rani

DRT17 Jan 2025OA/547/2023

Case brief

AI extract

What is this about?

The Tribunal allowed the applicant bank's application for recovery of Rs. 26.75 lakhs plus interest filed ex parte. The judgment validated the bank's loan claim and directed the issuance of a recovery certificate for the sale of mortgaged property to recover dues.

What did the court decide?

Recovery of Rs. 26,75,910/- with interest allowed; Recovery Certificate issued for sale of mortgaged property; joint and several liability declared.

Indian Bank (Allahabad Bank) versus Bimla Rani — 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: 547of 2023 Date of Institution: 17.03.2023 Date of Decision: 17.01.2025

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Indian Bank (erstwhile Allahabad Bank), having branches all over India having a branch at Grain Market, Phillaur, District Jalandhar, Punjab

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……..Applicant Vs.

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Bimla Rani w/o Ramesh Kumar r/o H.no. 31, Ward no. 3, new Shimla Colony, Kakowal Road, Ludhiana

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Mandeep Kaur w/o Kapil Dev Bawa r/o H.no. 31, Ward no. 3, new Shimla Colony, Kakowal Road, Ludhiana

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……….Defendants

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Advocates

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Ms. Jasleen Kaur, Counsel for the applicant bank. Defendants – ex parte

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OA for the Recovery of Rs. 26,75,910/- with interest @ 9.3% per annum with yearly rests from 17.03.2023.

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ORDER

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Indian Bank (Bank) has filed this application under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993 (RDB Act) for the recovery of Rs. 26,75,910/- with interest against Smt. Bimla Rani and another (Defendants).

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Bank’s case is that on 15.03.2017, it had granted a loan of Rs. 21.96 Lacs to the Defendants in the form of KCC Limit for agriculture purpose. To secure the loan, Defendants had mortgaged property (fully detailed in para No.3A of the application). The loan was chargeable to interest @9.3% per annum with yearly rests. On 22.02.2023, a sum of Rs. 26,75,910/- was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.

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3. On 17.04.2023, summonses were sent to the defendants by registered post, which were duly served. However, defendants did not
put in appearance. Vide order dated 04.01.2024, they were proceeded_ex_ parte.
4. In order to prove its case, the Bank has placed on record the affidavit of Mr. Rama Kant Sharma, Manager along with the loan and security documents and marked them as Exhibit A-1 to A-14.
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. 21.96 Lacs and on 22.02.2023, a sum of Rs. 26,75,910/- was due.
6. Accordingly, the application of the bank for the recovery of Rs.
26,75,910/- (Rupees Twenty Six Lacs Seventy Five Thousand Nine
Hundred Ten Only) with interest @9.3% per annum with yearly rests
from 17.03.2023, 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.
7. Pending IAs, if any, stand disposed of.
8. Recovery Certificate be issued accordingly.
9. Parties are directed to appear before Recovery Officer on
18.02.2025, who is directed to distribute the sale proceeds of the
mortgage property 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:17.01.2025 Presiding Officer DRT-1, Chandigarh

Indian Bank (Allahabad Bank) v. Bimla Rani

Case brief

What is this about?

What did the court decide?

Indian Bank (Allahabad Bank) v. Bimla Rani

Case brief

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What did the court decide?

What the court decided

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