Allowed

Kotak Mahindra Bank Limited v. Baldev Singh

DRT24 Apr 2026OA/1167/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the bank’s application for recovery of loan dues with interest. The court found the loan and mortgage valid and held all defendants jointly and severally liable, directing the issuance of a Recovery Certificate.

What did the court decide?

Application allowed recognizing liability of all defendants as joint and several; Recovery Certificate to be issued for recovery of principal, interest, and charges.

Kotak Mahindra Bank Limited versus Baldev 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: 1167/2022 Date of Institution: 31.05.2022 Date of Decision: 24.04.2026

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Kotak Mahindra Bank Limited (erstwhile ING Vyasa 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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Baldev Singh s/o Sh. Mukhtiar Singh, r/o H.No.249, Village Bhail Dhae Wala, Tehsil Tarn Taran & District Amritsar, Punjab.

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Balwinder Singh s/o Sh. Mukhtiar Singh, r/o H.No.249, Village Bhail Dhae Wala, Tehsil Tarn Taran & District Amritsar, Punjab.

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Harjeet Singh s/o Sh. Mukhtiar Singh, r/o H.No.249, Village Bhail Dhae Wala, Tehsil Tarn Taran & District Amritsar, Punjab.

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Manjeet Singh s/o Sh. Mukhtiar Singh, r/o H.No.249, Village Bhail Dhae Wala, Tehsil Tarn Taran & District Amritsar, Punjab.

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Sukhdev Singh s/o Sh. Kartar Singh, r/o H.No.249, Village Bhail Dhae Wala, Tehsil Tarn Taran & District Amritsar, Punjab.

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……….Defendants

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Advocates

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Sh. Paras Money Goyal, Counsel for the applicant bank. Defendants - ex parte vide order dated 16.12.2025 .

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OA for the Recovery of ₹1,18,95,749.83p with interest @12% per annum with half-yearly rests from 31.05.2022.

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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 ₹1,18,95,749.83p with interest against Sh. Baldev Singh and others (defendants).

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Bank’s case is that on 26.02.2014, it had granted a loan of ₹98.00 Lacs to defendant Nos.1 to 4 in the form of K.C.C Limit for agricultural

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purpose. To secure the loan, Defendant Nos.1 to 4 had mortgaged their land (fully detailed in para No.3A of the application). Defendant No.5 stood as guarantor for the limit vide guarantee bond dated 26.02.2014. The loan was chargeable to interest @12% per annum with half-yearly rests. On 23.03.2022, a sum of ₹1,18,95,749.83p was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.

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On 30.06.2022, summonses were sent to the defendants by registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 16.12.2025, 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-22.

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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 ₹98.00 Lacs and on 23.03.2022, a sum of ₹1,18,95,749.83p was due.

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Accordingly, the application of the bank for the recovery of ₹1,18,95,749.83p (Rupees One Crore Eighteen Lacs Ninety Five Thousand Seven Hundred Forty Nine and Paise Eighty Three Only) with interest @12% per annum with half-yearly rests from 31.05.2022, 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.

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Pending IAs, if any, stand disposed of.

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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 . 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: 24.04.2026 Presiding Officer DRT-1, Chandigarh MANOJ KALRA

Kotak Mahindra Bank Limited v. Baldev Singh

Case brief

What is this about?

What did the court decide?

Kotak Mahindra Bank Limited v. Baldev Singh

Case brief

What is this about?

What did the court decide?

What the court decided

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