Allowed

Indian Bank v. Sh. Deepak Chauhan

DRT22 Jul 2025OA/957/2022

Case brief

AI extract

What is this about?

Allowed the bank's application under Section 19 of the RDB Act to recover Rs.21,73,469/- with interest against the defendants jointly and severally, directing recovery from mortgaged and personal properties and appointment of a recovery officer.

What did the court decide?

Recovery of Rs.21,73,469/- with interest @9.40% p.a. from defendants jointly and severally via sale of mortgaged and personal properties; Recovery Certificate issued.

Indian Bank versus Sh. Deepak Chauhan — Banking and Recovery | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL-II, CHANDIGARH

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BEFORE: A S NARANG, PRESIDING OFFICER

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OA No: 957/2022 Date of Institution: 31.05.2022 Date of Decision: 22.07.2025

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Indian Bank at Sector 6, Panchkula, Haryana

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……..Applicant

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Vs.

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Sh. Deepak Chauhan s/o Sh. Liyak Ram Chauhan, r/o Flat No. 9, 2^nd Floor, situated at Defence Appartment, Village Himmatgarh, Zirakpur, District SAS Nagar, Mohali

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Smt Geeta Devi w/o Sh. Deepak Chauhan, r/o Flat No. 9, 2^nd Floor, situated at Defence Appartment, Village Himmatgarh, Zirakpur, District SAS Nagar, Mohali

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2^nd Address of Defendant Nos. 1 and 2, r/o Village Chhakdayal, Bye Pass Road Dhalli, Shimla, Himachal Pradesh

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……….Defendants

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Advocates

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Sh. IPS Issar, Counsel for the applicant bank. Defendants- ex parte .

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OA for the Recovery of Rs.21,73,469/- with interest @9.40% per annum with monthly rests from 31.05.2022.

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ORDER

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Indian Bank (Applicant Bank) has filed this application under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993 (RDB Act) for the recovery of Rs.21,73,469/- with interest against Sh. Deepak Chauhan and another (defendants).

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Bank’s case is that on 04.07.2015, it had granted a loan of Rs.18.00 Lacs to defendant No.1 in the form of Term Loan for housing purpose. Defendant No. 2 stood as guarantor. To secure the loan, Defendants had mortgaged their property(ies) (fully detailed in para No.3(A) of the application). The loan was chargeable to interest @9.95% per annum with monthly rests. On 06.01.2022, a sum of Rs.21,73,469/-

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was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application. 3. On 04.07.2022, summonses were sent to the defendants by registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 10.11.2023, they were proceeded ex parte .

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In order to prove its case, the Bank has placed on record the affidavit of Smt. Mamta Chamoli Thapliyal, Chief Manager along with the loan and security documents and marked them as Exhibit A-1 to A- 11. 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.18.00 Lacs and on 06.01.2022, a sum of Rs.21,73,469/- was due. 6. Accordingly, the application of the bank for the recovery of Rs.21,73,469/- (Rupees Twenty One Lacs Seventy Three Thousand Four Hundred Sixty Nine Only) with interest @9.40% per annum with monthly rests from 31.05.2022, 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(ies) fully detailed in para No.3(A) of the application as well as from the personal movable and immovable property(ies) of the defendants.

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Pending IAs, if any, stand disposed of.

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Recovery Certificate be issued accordingly. 9. Parties are directed to appear before Recovery Officer on 27.08.2025 , who is directed to distribute the sale proceeds of the mortgage property(ies) 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.

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Pronounced in the open Court.	(A S Narang)
Dated:22.07.2025	Presiding Officer
	DRT-2, Chandigarh
	(Additional charge)

Indian Bank v. Sh. Deepak Chauhan

Case brief

What is this about?

What did the court decide?

Indian Bank v. Sh. Deepak Chauhan

Case brief

What is this about?

What did the court decide?

What the court decided

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