Allowed

Icici Bank Limited v. Goverdhan Dass Giri Raj Sharan

DRT27 Aug 2026OA/1381/2023

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an application filed by ICICI Bank for recovery of a loan of ₹20.78 Lacs along with interest against five defendants who failed to appear. The court permitted recovery through sale of mortgaged properties and directed issuance of a recovery certificate.

What did the court decide?

Application for recovery of ₹20,78,762.22p with interest allowed. Recovery certificate issued. Pending IAs disposed of. Parties directed to appear for distribution of sale proceeds.

Icici Bank Limited versus Goverdhan Dass Giri Raj Sharan — 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: 1381/2023 Date of Institution: 25.07.2023 Date of Decision: 27.08.2026

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ICICI Bank Limited having its branches all over India and a branch at, No.143-A, City Emporium, Industrial Area, Phase-I, Chandigarh.

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……..Applicant

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Vs.

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Goverdhan Dass Giri Raj Sharan, Through Its Proprietor Goverdhan Dass Narang, Pandit Uddho Ram Building, Partap Gali, Majith Mandi, Amritsar, Punjab.

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Goverdhan Narang, H.No. 2546, Gali Pehalwana Bazar, Bhagtawala Gate, Near Baba Balak Nath Mandir, Amritsar, Punjab.

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Also at: - Goverdhan Narang, 1384, Pehalwana Bazar, Bhagtan Wala, District Amritsar, Punjab.

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Rahul Dev Narang, s/o Sh. Goverdhan Narang, 1384, Gali Pehalwana Bazar, Bhagtan Wala, Distt. Amritsar, Punjab.

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Аmit Narang s/o Sh. Goverdhan Narang, H.No. 2546, Gali Pehalwana Bazar, Bhagtawala Gate, Near Baba Balak Nath Mandir, Amritsar, Punjab.

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Kiran Narang w/o Sh. Goverdhan Narang, H.No. 2546, Gali Pehalwana Bazar, Bhagtawala Gate, Near Baba Balak Nath Mandir, Amritsar, Punjab.

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……….Defendants

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Advocates

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Ms. Dipti Toni, Counsel for the applicant bank. Defendants- ex parte vide order dated 26.02.2026 .

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OA for the Recovery of ₹20,78,762.22p with interest @11.30% per annum with monthly rests from 25.07.2023.

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ORDER

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ICICI Bank Limited has filed this application under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993 (RDB Act) for the recovery of ₹20,78,762.22p with interest against Goverdhan Dass Giri Raj Sharan and others (defendants).

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Bank’s case is that on 26.10.2016, it had granted a loan of ₹20.00 Lacs to defendant No.1 through its proprietor defendant no.2 in the form of OD Limit for Business purpose. To secure the loan, Defendant No.1 had mortgaged property (fully detailed in para No.3A of the application). The loan was chargeable to interest @11.30% per annum with monthly rests. On 06.07.2023, a sum of ₹20,78,762.22p was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.

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On 24.08.2023, summonses were sent to the defendants by registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 26.02.2026, they were proceeded ex parte .

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In order to prove its case, the Bank has placed on record the affidavit of Mohamad Vajid, Manager Legal along with the loan and security documents and marked them as Exhibit A-1 to A-11. 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 ₹20.00 Lacs and on 06.07.2023, a sum of ₹20,78,762.22p was due. 6. Accordingly, the application of the bank for the recovery of ₹20,78,762.22p (Rupees Twenty Lacs Seventy Eight Thousand Seven Hundred Sixty Two and Paise Twenty Two Only) with interest @11.30% per annum with monthly rests from 25.07.2023, 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 mortgaged property 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. 8. Recovery Certificate be issued accordingly. 9. Parties are directed to appear before Recovery Officer on 28.09.2026, who is directed to distribute the sale proceeds of the mortgaged property and hypothecated assets 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: 27.08.2026 Presiding Officer DRT-1, Chandigarh MANOJ KALRA

Icici Bank Limited v. Goverdhan Dass Giri Raj Sharan

Case brief

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Icici Bank Limited v. Goverdhan Dass Giri Raj Sharan

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