Allowed

Icici Bank Limited v. Rola Singh

DRT22 Aug 2025OA/845/2023

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the bank's application for recovery of Rs.21,08,956.11 with interest against three defendants who mortgaged their land to secure an agricultural loan. Liability was declared joint and several.

What did the court decide?

Application allowed; recovery of Rs.21,08,956.11 with interest; joint and several liability declared; Recovery Certificate issued; Recovery Officer directed to distribute sale proceeds.

Icici Bank Limited versus Rola 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: 845/2023 Date of Institution: 17.04.2023 Date of Decision: 22.08.2025

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ICICI Bank Limited having its branches all over India and a branch at Mehta Chowk, Jalandhar Road, Tehsil Baba Bakala, District Amritsar, Punjab.

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……..Applicant

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Vs.

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Rola Singh s/o Sh. Tarlok Singh, r/o Village Bhoewal, PO Chananke, Tehsil Baba Bakala, District Amritsar, Punjab.

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Gurkirat Singh s/o Sh. Rola Singh, r/o Village Bhoewal, PO Chananke, Tehsil Baba Bakala, District Amritsar, Punjab.

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Balwinder Kaur w/o Sh. Tarlok Singh, r/o H.No.155, Village Bhoewal, PO Chananke, Tehsil Baba Bakala, District Amritsar, Punjab.

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……….Defendants

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Advocates

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Sh. Himendra Pal Singh, Counsel for the applicant bank. Defendants - ex parte vide order dated 02.07.2024 .

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OA for the Recovery of Rs.21,08,956.11p with interest @12% per annum with half-yearly rests from 17.04.2023.

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ORDER

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ICICI 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.21,08,956.11p with interest against Sh. Rola Singh and others (defendants).

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Bank’s case is that on 20.07.2016, it had granted a loan of Rs.16.60 Lacs to defendant Nos. 1 to 3 in the form of K.C.C Limit for agricultural purpose. To secure the loan, Defendant Nos. 2 and 3 had mortgaged their land (fully detailed in para No.3A of the application). The loan was

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chargeable to interest @12% per annum with half-yearly rests. On 21.01.2023, a sum of Rs.21,08,956.11p was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.

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On 26.05.2023, summonses were sent to the defendants by registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 02.07.2024, they were proceeded ex parte . 4. In order to prove its case, the Bank has placed on record the affidavit of Sh. Parveen Kumar, Authorized Officer along with the loan and security documents and marked them as Exhibit A-1 to A-9. 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.16.60 Lacs and on 21.01.2023, a sum of Rs.21,08,956.11p was due. 6. Accordingly, the application of the bank for the recovery of Rs.21,08,956.11p (Rupees Twenty One Lacs Eight Thousand Nine Hundred Fifty Six and Paise Eleven Only) with interest @12% per annum with half-yearly rests from 17.04.2023, 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 land 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 01.10.2025, who is directed to distribute the sale proceeds of the mortgaged land and standing crops as per the provisions of Section 19(20AB) of the Act .

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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: 22.08.2025 Presiding Officer DRT-1, Chandigarh MANOJ KALRA

Icici Bank Limited v. Rola Singh

Case brief

What is this about?

What did the court decide?

Icici Bank Limited v. Rola Singh

Case brief

What is this about?

What did the court decide?

What the court decided

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