Allowed

Kotak Mahindra Bank Limited v. Smt. Swaran Kaur

DRT20 Mar 2026OA/1637/2023

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an application filed by Kotak Mahindra Bank for recovery of Rs. 66,33,680/- plus interest against three respondents. The court found the bank proved its case of an advanced loan and held recovery from mortgaged land and respondent properties. A recovery certificate was issued.

What did the court decide?

Application for recovery of Rs. 66,33,680/- with interest allowed; Recovery Certificate issued; directions to distribute sale proceeds.

Kotak Mahindra Bank Limited versus Smt. Swaran Kaur — 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: 1637 of 2023 Date of Institution: 11.09.2023 Date of Decision: 20.03.2026

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Kotak Mahindra Bank having its branches all over India and a branch at SCO No. 153-155, Sector 9-C, Chandigarh.

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……..Applicant

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Vs.

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Smt. Swaran Kaur R/o House No. 30, Village Samaspur, H.B. No. 386, The Rajpura, Distt Patiala, Punjab

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Sh. Manjit Singh R/o House No. 8, Village Samaspur, Tehsil Rajpura, Distt Patiala, Punjab.

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Sh. Jagjit Singh S/o Sh. Baldev Singh R/o House No. 18, Salempur, Tehsil Fatehgarh Sahib, Distt Fatehgarh Sahib, Punjab.

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……….Defendants

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Advocates

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Sh. Sukhvinder Singh, Counsel for the applicant bank. Defendants - ex parte .

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OA for the Recovery of Rs.66,33,680/- with interest @12% per annum with half-yearly rests from 11.09.2023.

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ORDER

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Kotak Mahindra Bank (Bank) has filed this application under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993 (RDB Act) for the recovery of Rs.66,33,680/- with interest against Swaran Kaur and others (defendants).

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Bank’s case is that on 26.03.2013, it had granted a loan of Rs.50.00Lacs to defendant nos. 1 and 2 in the form of K.C.C. Limit for agricultural purpose. To secure the loan, Defendant nos.1 and 2 had mortgaged their land (fully detailed in para No.3A of the application). Defendant no.3 stood as the guarantor. The loan was chargeable to interest @12% per annum with half-yearly rests. On 06.07.2023, a sum

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of Rs.66,33,680/- was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence,this application.
3. On 09.10.2023, summonses were sent to the defendants by
registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 17.09.2025, they were proceeded_ex_ parte.
4. In order to prove its case, the Bank has placed on record the affidavit of Mr. Munish Sharma, Senior Manager along with the loan and security documents and marked them as Exhibit A-1 to A-16.
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.50.00Lacs and on 06.07.2023, a sum of Rs.66,33,680/- was due.
6. Accordingly, the application of the bank for the recovery of
Rs.66,33,680/- (Rupees Sixty Six Lacs Thirty Three Thousand Six
Hundred and Eighty Only) with interest @12% per annum with half- yearly rests from 11.09.2023, 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 land 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
29.04.2026,who is directed to distribute the sale proceeds of the
mortgaged property(ies) 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: 20.03.2026 Presiding Officer DRT-1, Chandigarh Amanpreet (Law Researcher)

Kotak Mahindra Bank Limited v. Smt. Swaran Kaur

Case brief

What is this about?

What did the court decide?

Kotak Mahindra Bank Limited v. Smt. Swaran Kaur

Case brief

What is this about?

What did the court decide?

What the court decided

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