Allowed

Icici Bank Limited v. Pritpal Singh

DRT5 Mar 2026OA/1061/2023

Case brief

AI extract

What is this about?

This Debts Recovery Tribunal allowed ICICI Bank Limited's application for recovery of ₹22.87 lakhs plus interest against Pritpal Singh and Antarpreet Singh. The court held that the bank proved a loan of ₹22.56 lakhs advanced to Defendant 1, with Defendant 2 as guarantor, and decreed joint and several liability. A recovery certificate was issued and proceedings for sale of mortgaged land were direc

What did the court decide?

Recovery of ₹22,87,669/- with interest @12% p.a. allowed against defendants jointly and severally; Recovery Certificate issued; direction to distribute sale proceeds of mortgaged land.

Icici Bank Limited versus Pritpal Singh — Contract and Commercial Disputes | DRT (2026)

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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: 1061/2023 Date of Institution: 15.05.2023 Date of Decision: 05.03.2026

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ICICI Bank Limited having its branches all over India and a branch at SCO No.237-238, Sector-20, Panchkula, Haryana.

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……..Applicant

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Vs.

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Pritpal Singh s/o Sh. Kartar Singh, r/o Village Rokhe, Tehsil Ajnala and District Amritsar, Punjab.

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Antarpreet Singh s/o Sh. Pritpal Singh, r/o Village Rokhe, Tehsil Ajnala and District Amritsar, Punjab.

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……….Defendants

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Advocates

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Mr. Ismeet Singh proxy counsel for Sh. SK Singla, Counsel for the applicant bank.

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Defendants - ex parte vide order dated 04.02.2025 .

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OA for the Recovery of ₹22,87,669/- with interest @12% per annum with yearly rests from 15.05.2023.

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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 ₹22,87,669/- with interest against Sh. Pritpal Singh and another (defendants).

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Bank’s case is that on 09.06.2016, it had granted a loan of ₹22.56 Lacs to defendant No.1 in the form of K.C.C Limit for agricultural purpose. To secure the loan, Defendant No.1 had mortgaged his land (fully detailed in para No.3A of the application). Defendant No.2 stood as guarantor. The loan was chargeable to interest @12% per annum with yearly rests. On 31.12.2022, a sum of ₹22,87,669/- was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.

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On 04.07.2023, summonses were sent to the defendants by registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 04.02.2025, 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-8. 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 ₹22.56 Lacs and on 31.12.2022, a sum of ₹22,87,669/- was due. 6. Accordingly, the application of the bank for the recovery of ₹22,87,669/- (Rupees Twenty Two Lacs Eighty Seven Thousand Six Hundred Sixty Nine Only) with interest @12% per annum with yearly rests from 15.05.2023, till the date of payment is hereby allowed with costs. The liability of both 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 13.04.2026, who is directed to distribute the sale proceeds of the mortgaged land and standing crops 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. Pronounced in the open Court. (A S Narang) Dated: 05.03.2026 Presiding Officer DRT-1, Chandigarh MANOJ KALRA

Icici Bank Limited v. Pritpal Singh

Case brief

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Icici Bank Limited v. Pritpal Singh

Case brief

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