Allowed

Jammu and Kashmir Bank Limited v. Shri Mohd. Zafeer Khan

DRT7 Apr 2026OA/1215/2023

Case brief

AI extract

What is this about?

A Debts Recovery Tribunal allowed an application by Jammu & Kashmir Bank for recovery of ₹26,49,364.70p principal with interest from two defendants. The defendants were absent; evidence was accepted _ex parte_. The court directed property sale and issuance of a Recovery Certificate.

What did the court decide?

Recovery of ₹26,49,364.70p with interest @11.10% per annum allowed; Recovery Certificate issued.

Jammu and Kashmir Bank Limited versus Shri Mohd… — 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: 1215 of 2023 Date of Institution: 18.06.2023 Date of Decision: 07.04.2026

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The Jammu & Kashmir Bank Limited having its branches all over India and a branch at Rajouri Main Branch, Opposite Tehsil Office, Main Bazar, Rajouri. Jammu and Kashmir.

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……..Applicant

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Vs.

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Mohd. Zafeer Khan son of Shri Zahoor Ahmed Khan, Resident of 113, Narol, Post Office Mendhar, Poonch, Jammu and Kashmir.

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Wakar Ahmed son of Shri Abdul Ghani, Resident of 11, Ward No. 6, Post Office Chandak Dingla, Poonch, Jammu and Kashmir. ……….Defendants

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Advocates

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Sh. Vivek Verma, Counsel for the applicant bank. Defendants - ex parte .

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OA for the Recovery of ₹26,49,364.70p with interest @11.10% per annum with half-yearly rests from 18.06.2023.

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ORDER

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Jammu & Kashmir Bank Ltd. (Bank) has filed this application under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993 (RDB Act) for the recovery of ₹26,49,364.70p with interest against Mohd. Zafeer Khan and another (defendants).

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Bank’s case is that on 22.06.2022, it had granted a loan of ₹25.30Lacs to defendant no.1 in the form of Term Loan/P.C.L under J&K Bank Sohuliat/Saral Finance Scheme. Defendant no.2 stood as the guarantor. The loan was chargeable to interest @11.10% per annum with

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monthly rests. On 31.05.2023, a sum of ₹26,49,364.70p was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.

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On 01.08.2023, summonses were sent to the defendants by registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 14.08.2024, they were proceeded ex parte . 4. In order to prove its case, the Bank has placed on record the affidavit of Mr. Ashish Bhasin, Authorised Officer along with the loan and security documents and marked them as Exhibit A-1 to A-9. 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 ₹25.30Lacs and on 31.05.2023, a sum of ₹26,49,364.70p was due. 6. Accordingly, the application of the bank for the recovery of ₹26,49,364.70p (Rupees Twenty Six Lacs Forty Nine Thousand Three Hundred and Sixty Four and Seventy Paise Only) with interest @11.10% per annum with monthly rests from 18.06.2023, 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 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 08.05.2026, who is directed to distribute the sale proceeds of the property(ies) 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: 07.04.2026 Presiding Officer DRT-1, Chandigarh

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(Law Researcher)

Jammu and Kashmir Bank Limited v. Shri Mohd. Zafeer Khan

Case brief

What is this about?

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Jammu and Kashmir Bank Limited v. Shri Mohd. Zafeer Khan

Case brief

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