Indian Bank v. Sh. Mandeep
Case brief
What is this about?
Debts Recovery Tribunal allowed an application by Indian Bank against Sh. Mandeep Singh for recovery of Rs. 82,39,729.00 along with interest, deeming the case admissible ex-parte and directing issuance of a Recovery Certificate.
What did the court decide?
Declaratory order holding liable to pay Rs.82,39,729.00 plus interest; Recovery Certificate issued; Order for sale of hypothecated properties if dues remain unsatisfied.
What the court decided
DEBTS RECOVERY TRIBUNAL-III, CHANDIGARH
ORIGINAL APPLICATION NO.915/2025
PRESIDED OVER BY MRIDULESH KUMAR SINGH
DATE OF INSTITUTION: 11.07.2025
DATE OF DECISION: 19.09.2025
Indian Bank, a body corporate and the successor of Allahabad Bank, by Scheme of Amalgamation of Allahabad Bank into Indian Bank vide notification no. G.S.R. 156(E) dated 04.03.2020, passed by the Central Government under Section 9 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970, (5 of 1970) having its Corporate Office, Indian Bank 254-260 Avvai Shanmugam Salai, Royapettah, Chennai – 600014 and branches at various places including one of its Branch at Royal Estate, Zirakpur, District SAS Nagar, Punjab through Authorized Attorney of Sh. Aman Passi Manager.
……..Applicant Versus Sh. Mandeep S/o Sh. Amrik Singh R/o Village Changera, Tehsil Rajpura, District Patiala, Punjab. ……. Defendant
Advocates:
Argued by Sh. Virender Kumar, Advocate for the applicant Defendant already ex-parte
FINAL ORDER
Issues for consideration
1 issue framed by the court
Whether the applicant is entitled to recover the outstanding loan amount along with interest from the defendant under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993.
Parties & counsel
- applicant
Indian Bank
- respondent
Sh. Mandeep Singh
Coram
Mridulesh Kumar Singh
Case details
As recorded by the court registry
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