Allowed

Jammu and Kashmir Bank Limited v. Mr. Manzoor Ahmad Sheikh

DRT14 May 2026OA/1071/2023

Case brief

AI extract

What is this about?

The DRT allowed the applicant banker's application for recovery of ₹35,38,000/- with interest against the defendant, who failed to appear after summons. The court ordered the issuance of a Recovery Certificate and directed the defendant's property to be sold for dues.

What did the court decide?

Recovery of ₹35,38,000/- with interest @8% per annum from 30.05.2023 allowed via sale of property; Recovery Certificate issued.

Jammu and Kashmir Bank Limited versus Mr. Manzoor Ahmad Sheikh — Banking and Recovery | DRT (2026)

¶1

IN THE DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH

¶2

BEFORE: A S NARANG, PRESIDING OFFICER

¶3

OA No: 1071/2023 Date of Institution: 30.05.2023 Date of Decision: 14.05.2026

¶4

Jammu and Kashmir Bank Limited having its branches all over India and a branch at Lal Mandi, Near Agriculture Complex, Srinagar.

¶5

……..Applicant

¶6

Vs.

¶7

Mr. Manzoor Ahmad Sheikh S/O ML Mohamed Sultan Sheikh, r/o Qazi Masjid Habba Kadal Srinagar, Kashmir.

¶8

……….Defendant

¶9

Advocates

¶10

Sh. P.S. Sobti, Counsel for the applicant bank. Defendant- ex parte vide order dated 02.08.2024 .

¶11

OA for the Recovery of ₹35,38,000/- with interest @8% per annum with monthly rests from 30.05.2023.

¶12

ORDER

¶13

Jammu and Kashmir Bank Limited has filed this application under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993 (RDB Act) for the recovery of ₹35,38,000/- with interest against Mr. Manzoor Ahmad Sheikh (defendant).

¶14

Bank’s case is that on 17.07.2021, it had granted a loan of ₹40.00 Lacs to defendant under Consumption Loan Facility for personal purpose. The loan was chargeable to interest @8% per annum with monthly rests. On 31.03.2023, a sum of ₹35,38,000/- was due from the defendant. Despite repeated requests, defendant did not make the repayment. Hence, this application.

¶15

On 14.07.2023, summons was sent to the defendant by registered post, which was duly served. However, defendant did not put in appearance. Vide order dated 02.08.2024, he was proceeded ex parte .

¶16

¶17

In order to prove its case, the Bank has placed on record the affidavit of Sh. Ashish Bhasin, Authorized Officer along with the loan and security documents and marked them as Exhibit A-1 to A-9.

¶18

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 ₹40.00 Lacs and on 31.03.2023, a sum of ₹35,38,000/- was due. 6. Accordingly, the application of the bank for the recovery of ₹35,38,000/- (Rupees Thirty Five Lacs Thirty Eight Thousand Only) with interest @8% per annum with monthly rests from 30.05.2023, 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. Party is directed to appear before Recovery Officer on 18.06.2026, who is directed to distribute the sale proceeds 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 party. Pronounced in the open Court. (A S Narang) Dated: 14.05.2026 Presiding Officer DRT-1, Chandigarh MANOJ KALRA

Jammu and Kashmir Bank Limited v. Mr. Manzoor Ahmad Sheikh

Case brief

What is this about?

What did the court decide?

Jammu and Kashmir Bank Limited v. Mr. Manzoor Ahmad Sheikh

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

Coram

Case details

Similar cases

Sham Sunder versus Union Bank of India

Punjab National Bank (Oriental Bank of Commerce) versus Pritam Singh

Karnataka Bank Limited versus Nandhinni

State Bank of India versus Sri Kshitish Roy

State Bank of India versus Sri Kamal Paul

Indian Overseas Bank versus Smt. Manjit Kaur