Allowed

Kotak Mahindra Bank Limited v. Hardeep Singh

DRT7 Apr 2026OA/1089/2024

Case brief

AI extract

What is this about?

The Debt Recovery Tribunal allowed the bank's application for recovery of dues totaling approximately ₹25.51 lakhs with interest. The court found the bank had proved its case regarding the loan advance and security, proceeding ex parte against defendants who failed to appear.

What did the court decide?

Recovery of ₹25,51,187.56p with interest; issuance of Recovery Certificate; sale of mortgaged land and personal property.

Kotak Mahindra Bank Limited versus Hardeep 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: 1089/2024 Date of Institution: 05.07.2024 Date of Decision: 07.04.2026

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Kotak Mahindra Bank Limited having its branches all over India and a branch at SCO No.153-155, Sector 9-C, Chandigarh.

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……..Applicant

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Vs.

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Hardeep Singh s/o Sh. Harjinder Singh, r/o H No. 160, Patti Maana Di, P.O Chheharta Block Verka, Guru Ki Wadali, Amritsar, Punjab.

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Bhupinder Singh s/o Sh. Harjinder Singh, r/o H No. 160, Patti Maana Di, P.O Chheharta Block Verka, Guru Ki Wadali, Amritsar, Punjab.

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Harpreet Kaur w/o Sh. Bhupinder Singh, r/o H No. 160, Patti Maana Di, P.O Chheharta Block Verka, Guru Ki Wadali, Amritsar, Punjab.

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Sukhwinder Singh s/o Sh. Balbir Singh, r/o Village Guru Ki Wadali, Amritsar, Punjab.

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……….Defendants

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Advocates

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Sh. Lovepreet Singh proxy counsel for Sh. Paras Money Goyal, Counsel for the applicant bank.

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Defendants - ex parte vide order dated 18.08.2025 .

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OA for the Recovery of ₹25,51,187.56p with interest @12% per annum with half-yearly rests from 05.07.2024.

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ORDER

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Kotak Mahindra Bank Limited has filed this application under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993 (RDB Act) for the recovery of ₹25,51,187.56p with interest against Sh. Hardeep Singh and others (defendants).

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Bank’s case is that on 11.09.2015, it had granted K.C.C. Limit of

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₹9.21 Lacs and Term Loan of ₹2.24 Lacs to defendant Nos.1 to 3 for

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agricultural purpose. To secure the loan, Defendant Nos.1 and 2 had mortgaged their land (fully detailed in para No.3A of the application). Defendant No.4 stood as guarantor for K.C.C. Limit vide guarantee bond dated 19.09.2015. The loan was chargeable to interest @12% per annum with half-yearly rests. On 05.03.2024, a sum of ₹25,51,187.56p was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.

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On 07.08.2024, summonses were sent to the defendants by registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 18.08.2025, 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. Munish Sharma, Manager along with the loan and security documents and marked them as Exhibit A-1 to A-20.

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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 total loan of ₹11.45 Lacs and on 05.03.2024, a sum of ₹25,51,187.56p (K.C.C. Limit of ₹21,43,245.87p; Term Loan of ₹4,07,941.69p) was due.

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Accordingly, the application of the bank for the recovery of ₹25,51,187.56p (Rupees Twenty Five Lacs Fifty One Thousand One Hundred Eighty Seven and Paise Fifty Six Only) with interest @12% per annum with half-yearly rests from 05.07.2024, till the date of payment is hereby allowed with costs. The liability of all the defendants would be joint and several for the amount due in K.C.C. Limit whereas the liability of Defendant nos. 1 to 3 would joint and several for the amount due in Term Loan Account. 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

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personal movable and immovable property(ies) of the defendants accordingly.

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Pending IAs, if any, stand disposed of. 8. Recovery Certificate be issued accordingly. 9. Parties are directed to appear before Recovery Officer on 08.05.2026, 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.

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Pronounced in the open Court. (A S Narang) Dated: 07.04.2026 Presiding Officer DRT-1, Chandigarh

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MANOJ KALRA

Kotak Mahindra Bank Limited v. Hardeep Singh

Case brief

What is this about?

What did the court decide?

Kotak Mahindra Bank Limited v. Hardeep Singh

Case brief

What is this about?

What did the court decide?

What the court decided

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