The Debts Recovery Tribunal allowed the bank's application under the RDB Act for recovery of a defaulted agricultural loan of over 1 crore rupees with interest, adjudging the liability as joint and several.
Recovery of ₹1,04,90,626/- with interest @10.20% per annum directed to be recovered from mortgaged land and personal assets of both defendants jointly and severally.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
IN THE DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH
BEFORE: A S NARANG, PRESIDING OFFICER
OA No: 1208/2023 Date of Institution: 21.04.2023 Date of Decision: 25.08.2026
Indian Bank (Allahabad Bank) having its branches all over India and a branch at Sultanwind Road, Amritsar, Punjab.
……..Applicant
Vs.
……….Defendants
Advocates
Sh. Akhilesh Vyas proxy counsel for Sh. S.K. Vyas, Counsel for the applicant bank.
Defendants- ex parte vide order dated 15.01.2025 .
OA for the Recovery of ₹1,04,90,626/- with interest @10.20% per annum with half-yearly rests from 21.04.2023.
ORDER
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the existing loan facility and granted Term Loan of ₹5.25 Lacs to the defendants for agricultural purpose. Both the loan facilities were chargeable to interest @10.20% per annum with half-yearly rests. Defendants had duly acknowledged their liability towards the debt on 29.03.2018. On 31.03.2023, a sum of ₹1,04,90,626/- was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.
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1 issue framed by the court
Whether the applicants bank is entitled to recovery of the outstanding loan amount against the respondents.
1 provisions across 1 enactments
Indian Bank
Sh. Inder Singh
Sh. Gurpinder Singh
A S Narang
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
