Allowed

Kotak Mahindra Bank Limited v. Smt. Kawaljit Kaur

DRT6 Apr 2026OA/1493/2024

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the applicant bank's application for recovery of ₹31,10,824.62 with interest advanced by an economic operator of banking against two persons who mortgaged property as security for a loan default.

What did the court decide?

Allowed application for recovery of ₹31,10,824.62 with interest; Directions to recover dues from mortgaged and personal assets; Recovery Certificate issued.

Kotak Mahindra Bank Limited versus Smt. Kawaljit… — 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: 1493/2024 Date of Institution: 24.09.2024 Date of Decision: 06.04.2026

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Kotak Mahindra Bank Limited (erstwhile ING Vyasa Bank Limited) having its branches all over India and a branch at SCO-153-154-155, Basement, Sec - 9C, Madhya Marg, Chandigarh.

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……..Applicant

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Vs.

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Smt. Kawaljit Kaur w/o Sh. Skinderjit Singh, r/o Village Jasraur, Tehsil Ajnala, District Amritsar, Punjab.

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Sh. Shamsher Singh s/o Sh. Skinderjit Singh, r/o Village Jasraur, Tehsil Ajnala, District Amritsar, Punjab.

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……….Defendants

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Advocates

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Sh. Rajan Puri, Counsel for the applicant bank. Defendants - ex parte vide order dated 29.04.2025 .

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OA for the Recovery of ₹31,10,824.62p with interest @12% per annum with half-yearly rests from 24.09.2024.

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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 ₹31,10,824.62p with interest against Smt. Kawaljit Kaur and others (defendants).

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Bank’s case is that on 22.06.2017, it had granted a loan of ₹15,30,405/- to the defendants in the form of K.C.C Limit for agricultural purpose. To secure the loan, Defendants had mortgaged their property (fully detailed in para No.3A of the application). The loan was chargeable to interest @12% per annum with half-yearly rests. On

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08.07.2024, a sum of ₹31,10,824.62p was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.

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On 18.10.2024, summonses were sent to the defendants by registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 29.04.2025, 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, Branch Manager 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 ₹15,30,405/- and on 08.07.2024, a sum of ₹31,10,824.62p was due. 6. Accordingly, the application of the bank for the recovery of ₹31,10,824.62p (Rupees Thirty One Lacs Ten Thousand Eight Hundred Twenty Four and Paise Sixty Two Only) with interest @12% per annum with half-yearly rests from 24.09.2024, till the date of payment is hereby allowed with costs. The liability of both 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. 7. Pending IAs, if any, stand disposed of. 8. Recovery Certificate be issued accordingly. 9. Parties are directed to appear before Recovery Officer on 07.05.2026, 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 .

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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: 06.04.2026 Presiding Officer DRT-1, Chandigarh MANOJ KALRA

Kotak Mahindra Bank Limited v. Smt. Kawaljit Kaur

Case brief

What is this about?

What did the court decide?

Kotak Mahindra Bank Limited v. Smt. Kawaljit Kaur

Case brief

What is this about?

What did the court decide?

What the court decided

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