Debts Recovery Tribunal allowed the applicant bank's application for a recovery certificate and interest under Section 31-A RDB Act based on a unsuperseded civil decree, fixing the amount and future interest rates.
Recovery Certificate issued for Rs.25,25,565.93 with future interest at 6% p.a. Parties directed to appear before Recovery Officer.
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.
DEBTS RECOVERY TRIBUNAL-III, CHANDIGARH
PRESIDED OVER BY MRIDULESH KUMAR SINGH
ORIGINAL APPLICATION NO.1575/2025
DATE OF INSTITUTION: 20.09.2025
DATE OF DECISION: 20.05.2026
Indian Bank, a Banking Company, constituted under the Banking Companies (Acquisition and Transfer of Undertaking) Act of 1970, having its Head Office at 254-260, Avvai, Shanmugam Salat, Royapettah, Chennai-600001, having its Zonal Office at Ludhiana and amongst other places a Branch at Bhai Randheer Singh Nagar, Ludhiana, through its Authorized Officer Ms. Tamanna Soni, Manager, Indian Bank, BRS Nagar, Ludhiana
… …..Applicant/ Decree Holder
Versus
……….Defendants/Judgement Debtors
Advocates:
Argued by Ms. Manjari Joshi, Advocate for Applicant
FINAL ORDER
2 OA/1575/2025 INDIAN BANK VS. DEEPAK SACHDEVA AND ANOTHER
judgment and decree dated 01.09.2023 passed by Ld. Civil Judge, Junior Division, Ludhiana in Civil Suit No. 4411 of 2020. The Original application has been filed through Ms. Tamanna Soni, Manager who is competent to institute the Original Application vide Letter of Authorization dated 25.07.2025, which is Annexure A1 to this OA.
The defendants failed to repay the amount which was due despite repeated requests and notices and applicant filed a Suit in the Court of Ld. Civil Judge, Junior Division, Ludhiana for recovery an amount of Rs.19,48,267.00 inclusive of interest calculated up to 07.09.2020, along with pendente lite and future interest against the defendants.
The above Civil Suit no. 4411 of 2020 was decreed in favour of applicant vide judgement and decree dated 01.09.2023 for an amount of Rs.19,48,267.00 along with pendent elite and future interest @09.00% p.a. from date of filing of the suit i.e. 10.09.2020 till 01.09.2023 and @6.00%p.a. from date of passing of decree i.e. 01.09.2023 till realization of decretal amount along with amount of Rs.55,110.00 as cost of suit. The copy of judgment and decree dated
3 OA/1575/2025 INDIAN BANK VS. DEEPAK SACHDEVA AND ANOTHER
01.09.2023 is Annexure A2 to this OA and Calculation Sheet is Annexure A3 to this OA.
Thus, Recovery Certificate be issued for Rs.25,25,565.93(Rupees Twenty Five Lacs, Twenty Five Thousand, Five Hundred Sixty Five and Paise Ninety Three Only) with pendente lite and future interest @6.00% p.a. from 02.09.2023 till realization of amount as per interest awarded by the Civil Court. 8. Any other application pending stands disposed of. 9. Issue Recovery Certificate Accordingly. 10. Parties to appear before Learned Recovery Officer of this Tribunal on 11.06.2026.
4
OA/1575/2025 INDIAN BANK VS. DEEPAK SACHDEVA AND ANOTHER
3 issues framed by the court
Whether the applicant is entitled to a recovery certificate and pendente lite and future interest as per the civil decree
Whether pendency of challenge to the decree bars issuance of recovery certificate under section 31-A RDB Act
Whether fresh calculation sheet filed during hearing supplies the basis for recovery amount
2 provisions across 2 enactments
Indian Bank
Sh. Deepak Sachdeva
Smt. Veena Sachdeva
Mridulesh Kumar Singh
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
