Allowed

Kotak Mahindra Bank Limited v. Gurjit Kaur

DRT24 Apr 2026OA/116/2022

Case brief

AI extract

What is this about?

The Tribunal allowed an ex parte application filed by Kotak Mahindra Bank for the recovery of an outstanding loan of Rs. 85,28,756/ along with interest from the defendants, a borrower and a guarantor, and directed the issuance of a Recovery Certificate and distribution of sale proceeds.

What did the court decide?

Recovery of Rs. 85,28,756/- with interest; Joint and several liability declared; Recovery Certificate issued; Distribution of sale proceeds directed.

Kotak Mahindra Bank Limited versus Gurjit Kaur — 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: 116/2022 Date of Institution: 18.01.2022 Date of Decision: 24.04.2026

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Kotak Mahindra Bank Limited having its branches all over India and a branch at Putlighar Chowk, Amritsar, Punjab.

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……..Applicant

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Vs.

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Gurjit Kaur w/o Sh. Sakater Singh, r/o H.No.60, Village Bua Nangli, Tehsil Ajnala, District Amritsar, Punjab.

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Dil Preet Singh s/o Sh. Sakater Singh, r/o H.No.60, Village Bua Nangli, Tehsil Ajnala, District Amritsar, Punjab.

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Manpreet Singh s/o Sh. Manjit Singh, r/o Village Bua Nangli, Post Office Adliwala, Tehsil Ajnala, District Amritsar, Punjab.

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……….Defendants

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Advocates

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Sh. J.S. Sehgal, Counsel for the applicant bank. Defendants - ex parte vide order dated 05.01.2023 .

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OA for the Recovery of Rs.85,28,756/- with interest @12.15% per annum with half-yearly rests from 18.01.2022.

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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 Rs.85,28,756/- with interest against Smt. Gurjit Kaur and others (defendants).

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Bank’s case is that on 14.12.2013, it had granted a loan of Rs.65.00 Lacs to defendant Nos. 1 & 2 in the form of K.C.C Limit for agricultural purpose. To secure the loan, Defendant No.2 had mortgaged his land (fully detailed in para No.3A of the application). Defendant No.3 stood as guarantor. The loan was chargeable to interest @12.15%

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per annum with half-yearly rests. On 25.11.2021, a sum of Rs.85,28,756/- was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.

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On 22.04.2022, summonses were sent to the defendants by registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 05.01.2023, 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-19.

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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.65.00 Lacs and on 25.11.2021, a sum of Rs.85,28,756/- was due. 6. Accordingly, the application of the bank for the recovery of Rs.85,28,756/- (Rupees Eighty Five Lacs Twenty Eight Thousand Seven Hundred Fifty Six Only) with interest @12.15% per annum with halfyearly rests from 18.01.2022, till the date of payment is hereby allowed with costs. The liability of all 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 28.05.2026, 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 .

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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: 24.04.2026 Presiding Officer DRT-1, Chandigarh MANOJ KALRA

Kotak Mahindra Bank Limited v. Gurjit Kaur

Case brief

What is this about?

What did the court decide?

Kotak Mahindra Bank Limited v. Gurjit Kaur

Case brief

What is this about?

What did the court decide?

What the court decided

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