Allowed

Indian Bank v. M/S Shri Bhagwan Trading Company

DRT29 Jan 2026OA/1215/2023

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an application for the recovery of Rs.26,97,783/- with interest advanced by Indian Bank. The court constituted a loan of Rs.20.00 Lacs for the defendants, who acknowledged the liability but failed to repay. The Tribunal held for the applicant and directed the issuance of a Recovery Certificate.

What did the court decide?

Recovery of Rs.26,97,783/- with interest allowed; Recovery Certificate issued; Case transferred to Recovery Officer for distribution of sale proceeds.

Indian Bank versus M/S Shri Bhagwan Trading Company — Contract and Commercial Disputes | DRT (2026)

¶1

IN THE DEBTS RECOVERY TRIBUNAL-II, CHANDIGARH

¶2

BEFORE: A S NARANG, PRESIDING OFFICER

¶3

OA No: 1215/2023 Date of Institution: 24.08.2023 Date of Decision: 29.01.2026

¶4

Indian Bank at Narwana, Haryana

¶5

……..Applicant

¶6

Vs.

¶7

M/s Shri Bhagwan Trading Co. through its proprietor Sh. Shriram Mehar s/o Sh. Jogi Ram, c/o Shop No.17, New Anaj Mandi, Narwana Jind, Haryana

¶8

Sh. Shriram Mehar s/o Sh. Jogi Ram, r/o House No.62, Village Bhana, Brahamnan Tehsil Narwana, District Jind Haryana

¶9

Sj. Jagmohan s/o Sh. Ram, r/o House No.DF-442, Sector No/6, Patram Nagar, Narwana, District Jind, Haryana

¶10

……….Defendants

¶11

Advocates

¶12

Ms Deepika Mittal, Counsel for the applicant bank. Defendants- ex parte .

¶13

OA for the Recovery of Rs.26,97,783/- with interest @11.70% per annum with monthly rests from 24.08.2023.

¶14

ORDER

¶15

Indian Bank (Applicant Bank) has filed this application under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993 (RDB Act) for the recovery of Rs.26,97,783/- with interest against M/s Shri Bhagwan Trading Co. and others (defendants).

¶16

Defendant No. 1 is a proprietorship firm of defendant No.2. Bank’s case is that on 28.10.2015, it had granted a loan of Rs.20.00 Lacs to defendant Nos.1 and 2 in the form of C.C Limit for business purpose. Defendant No.3 stood as guarantor. The loan was chargeable to interest @11.70% per annum with monthly rests. Defendants had acknowledged and admitted the liability for debt on 28.11.2017, 18.03.2020 and 28.08.2020. On 21.07.2023, a sum of Rs.26,97,783 /- was due from the

¶17

¶18

defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.

¶19

On 05.09.2023, summonses were sent to the defendants by registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 05.10.2023, they were proceeded ex parte . 4. In order to prove its case, the Bank has placed on record the affidavit of Sh. Kapil Dev, Branch Manager along with the loan and security documents and marked them as Exhibit A-1 to A-13. 5. 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.20.00 Lacs and on 21.07.2023, a sum of Rs.26,97,783 /- was due. 6. Accordingly, the application of the bank for the recovery of Rs.26,97,783/- (Rupees Twenty Six Lacs Ninety Seven Thousand Seven Hundred and Eighty Three Only) with interest @11.70% per annum with monthly rests from 24.08.2023, 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 hypothecated goods/stocks/assets/book debts etc 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 23.03.2026 , who is directed to distribute the sale proceeds of the mortgage property(ies) 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.

¶20

Pronounced in the open Court.	(A S Narang)
Dated:29.01.2026	Presiding Officer
	DRT-2, Chandigarh
	(Additional charge)

Indian Bank v. M/S Shri Bhagwan Trading Company

Case brief

What is this about?

What did the court decide?

Indian Bank v. M/S Shri Bhagwan Trading Company

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

Icici Bank Limited versus Abhishek Pratap

Central Bank of India versus M/S Maheshwari Ayurvedic Stores

Icici Bank Limited versus Sadiya

Central Bank of India versus Atul Kumar Tiwari S/O Shri Dinesh Prasad Sharma

Bank of India versus Praneeta

Shivani Traders versus Au Small Finance Bank Limited