The Debts Recovery Tribunal allowed an application by Kotak Mahindra Bank for recovery of Rs.38,75,175/- along with interest against defendants who mortgaged land and acted as guarantors for an agricultural loan defaulting on repayment.
Recovery of Rs.38,75,175/- with interest directed against all respondents jointly and severally; 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-I, CHANDIGARH
BEFORE: A S NARANG, PRESIDING OFFICER
OA No: 640/2022 Date of Institution: 01.04.2022 Date of Decision: 20.12.2025
Kotak Mahindra Bank Limited (erstwhile ING Vyasa Bank Limited) having its branches all over India and a branch at S.C.O.153-154-155, Sector-9C, Madhya Marg, Chandigarh.
……..Applicant
Vs.
……….Defendants
Advocates
Sh. Davinder Singh proxy counsel for Sh. Mohit Sareen, Counsel for the applicant bank.
Defendants - ex parte vide order dated 18.03.2024 .
OA for the Recovery of Rs.38,75,175/- with interest @12.45% per annum with half-yearly rests from 01.04.2022.
ORDER
2
detailed in para No.3A of the application). Defendant no.4 stood as the guarantor. The loan was chargeable to interest @12.45% per annum with half-yearly rests. On 28.02.2022, a sum of Rs.38,75,175/- was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.
3
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: 20.12.2025 Presiding Officer DRT-1, Chandigarh MANOJ KALRA
3 issues framed by the court
Whether the bank proved its case for recovery of the loan amount from the defendants.
Whether the application for recovery of dues under Section 19 of the RDB Act was maintainable.
How the recovery should be effected through sale of mortgaged land.
Kotak Mahindra Bank Limited
Jasvir Singh
Salvinder Singh @Sawinder Singh
Inderjit Singh
Rajan Kumar
A S Narang
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
