Allowed

Jammu and Kashmir Bank Limited v. Bikramjeet Singh

DRT21 May 2025TA/138/2023

Case brief

AI extract

What is this about?

The DRT allowed the bank's application for recovery of Rs.23.62 lakh with interest. The bank proved its case via documentary evidence. The defendant failed to appear. Recovery was directed through sale of defendant's assets.

What did the court decide?

Recovery of Rs.23,62,893/- with interest @9.5% per annum allowed; Recovery Certificate issued; Recovery through sale of defendant's assets directed.

Jammu and Kashmir Bank Limited versus Bikramjeet Singh — Banking and Recovery | 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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TA No: 138 of 2023 Date of Institution: 16.09.2019 Date of Decision: 21.05.2025

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The Jammu and Kashmir Bank Ltd., B.U. Mehjoor Nagar Srinagar through its Executive Law, Mr. Jaweed Ahmed Shera.

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……..Applicant Vs.

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Bikramjeet Singh S/o S. Mangat Singh, R/o Mehjoor Nagar, Srinagar.

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……….Defendant

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Advocates

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Sh. Navpreet Singh, Counsel for the applicant bank. Defendant- Ex parte.

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TA for the Recovery of Rs.23,62,893/- with interest @9.5% per annum with monthly rests from 01.09.2019.

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ORDER

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On 16.09.2019, J and K Bank, filed the suit for the recovery of Rs.23,62,893/- with interest against Bikramjeet Singh (defendant) in the Civil Court Jammu. However, vide order dated 24.01.2023, this suit was transferred by the Court of Additional District Judge, (Bank Cases), Srinagar, to DRT-I, Chandigarh.

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Bank’s case is that on 12.09.2018, it had granted Consumption Loan of Rs.23.00 lacs to defendant. The loan was chargeable to interest @9.50% per annum with monthly rests. On 31.08.2019, a sum of Rs.23,62,893/- was due from the defendant. Despite repeated requests, defendant did not make the repayment. Hence, the suit.

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On 20.10.2023, summons was sent to the defendant by registered post, which was duly served. However, defendant did not put in appearance. Vide order dated 04.09.2024, he was proceeded ex parte .

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In order to prove its case, the Bank has placed on record the affidavit of Mr. Jawed Ahmed Shera, Executive Manager Law, along with the loan and security documents.

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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.23.00 lacs and on 31.08.2019, a sum of Rs.23,62,893/- was due. 6. Accordingly, the case of the bank for the recovery of Rs.23,62,893/- (Rupees Twenty Three Lacs Sixty Two Thousand Eight Hundred Ninety Three Only) with interest @9.5% per annum with monthly rests from 01.09.2019, till the date of payment is hereby allowed with costs. Bank can recover its dues by the sale of the personal movable and immovable property(ies) of the defendant. 7. Pending IAs, if any, stand disposed of. 8. Recovery Certificate be issued accordingly. 9. Parties are directed to appear before Recovery Officer on 25.06.2025. 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: 21^st May, 2025 Presiding Officer DRT-1, Chandigarh

Jammu and Kashmir Bank Limited v. Bikramjeet Singh

Case brief

What is this about?

What did the court decide?

Jammu and Kashmir Bank Limited v. Bikramjeet Singh

Case brief

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What did the court decide?

What the court decided

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