Allowed

Icici Bank Limited v. Joginder Singh

DRT5 Mar 2026OA/1062/2023

Case brief

AI extract

What is this about?

In this Debt Recovery Tribunal proceedings, the applicant bank sought recovery of a loan of ₹23,33,600 along with accrued interest. The defendants failed to appear after receiving summonses, and the court proceeded ex parte. Evaluating the submitted evidence, the Presiding Officer found the loan and its due date proven, leading to the allowance of the recovery application.

What did the court decide?

Allowed the application for recovery of ₹27,59,595 along with interest; directed issuance of Recovery Certificate; ordered distribution of sale proceeds of mortgaged land under Section 19(20-AB).

Icici Bank Limited versus Joginder Singh — Banking and Recovery | 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: 1062/2023 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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Joginder Singh s/o Sh. Dhara Singh, r/o Village Mehma, Tehsil and District Ferozepur, Punjab.

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Malkeet Singh s/o Sh. Joginder Singh, r/o Village Mehma, Tehsil and District Ferozepur, Punjab.

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……….Defendants

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Advocates

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Mr. Ismeet Singh proxy counsel for Sh. S.K. 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 ₹27,59,595/- with interest @11.95% per annum with half-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 ₹27,59,595/- with interest against Sh. Joginder Singh and another (defendants).

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Bank’s case is that on 28.10.2016, it had granted a loan of ₹23,33,600/- to the defendants 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). The loan was chargeable to interest @11.95% per annum with half-yearly rests. On 31.12.2022, a sum of ₹27,59,595/- 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 .

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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 ₹23,33,600/- and on 31.12.2022, a sum of ₹27,59,595/- was due. 6. Accordingly, the application of the bank for the recovery of ₹27,59,595/- (Rupees Twenty Seven Lacs Fifty Nine Thousand Five Hundred Ninety Five Only) with interest @11.95% per annum with halfyearly 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. Joginder Singh

Case brief

What is this about?

What did the court decide?

Icici Bank Limited v. Joginder Singh

Case brief

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