Allowed

Jammu and Kashmir Bank Limited v. Shri Wakar Ahmed

DRT20 Apr 2026OA/1643/2023

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the applicant bank's application under Section 19 RDB Act for recovery of dues amounting to ₹29,30,654.48p plus interest from three respondents, confirming the bank's proof of loan advances and liability. The court directed issuance of a recovery certificate.

What did the court decide?

Application for recovery of ₹29,30,654.48p with interest at 12.70% and 12.20% p.a. allowed; recovery certificate issued; sum recoverable from sale of movable/immovable property of respondents.

Jammu and Kashmir Bank Limited versus Shri Wakar… — 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: 1643/2023 Date of Institution: 14.09.2023 Date of Decision: 20.04.2026

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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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Shri Wakar Ahmed s/o Shri Abdul Ghani, r/o 11, Ward No.6, Chandak, Dingla Poonch. (Jammu and Kashmir).

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2^nd Address: Village Rehari, Old Post Office Exchange Road, Rehari, Jammu (Jammu and Kashmir).

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Shri Saleem Yousaf Bhatti s/o Shri Mohd Yousaf Bhatti, r/o Narol, Chatral, Mendher, Poonch. (Jammu and Kashmir).

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Shri Zaffer Iqbal s/o Shri Mohd. Younis, r/o Ward No.5, Potha Ari, Tehsil Mendhar, Poonch. (Jammu and Kashmir).

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……….Defendants

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Advocates

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Sh. Vivek Verma, Counsel for the applicant bank. Defendants - ex parte vide order dated 18.10.2024 .

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OA for the Recovery of ₹29,30,654.48p with interest from 14.09.2023.

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ORDER

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Jammu & Kashmir Bank Limited has filed this application under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993 (RDB Act) for the recovery of ₹29,30,654.48p with interest against Shri Wakar Ahmed and others (defendants).

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Bank’s case is that on 26.05.2022, it had granted Personal Consumption Loan/Term Loan of ₹24.00Lacs to defendant no.1 for personal purpose. Defendant Nos.2 and 3 stood as guarantors. Again on 23.06.2022, at the request of the defendant no.1, bank granted C.C. Limit of ₹3.50Lacs under J&K Bank Cash Credit Scheme for salaried

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Employees for personal purpose. Both the loan facilities were chargeable at different rates of interest. On 31.08.2023, a sum of ₹29,30,654.48p was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.

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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 18.10.2024, 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. Ashish Bhasin, Authorized Officer along with the loan and security documents and marked them as Exhibit A-1 to A-22. 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 total loan of ₹27.50 Lacs (₹24.00 Lacs in Personal Loan and ₹3.50 Lacs in C.C. Limit for personal purpose) and on 31.08.2023, a sum of ₹29,30,654.48p was due. 6. Accordingly, the application of the bank for the recovery of ₹29,30,654.48p (Rupees Twenty Nine Lacs Thirty Thousand Six Hundred Fifty Four and Paise Forty Eight Only) i.e. ₹25,57,958.68p in Term Loan for Personal purpose with interest @12.70% p.a.; ₹3,72,695.80p in C.C. Limit for personal purpose with interest @12.20% p.a. (both facilities) with monthly rests from 14.09.2023, till the date of payment is hereby allowed with costs. The liability of defendant Nos.1 to 3 would be joint and several for the amount due in Term Loan whereas Defendant no.1 would be fully liable for the amount due in C.C. Limit. Bank can recover its dues by the sale of personal movable and immovable property(ies) of the defendants accordingly.

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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 22.05.2026, who is directed to distribute the sale proceeds 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: 20.04.2026 Presiding Officer DRT-1, Chandigarh MANOJ KALRA

Jammu and Kashmir Bank Limited v. Shri Wakar Ahmed

Case brief

What is this about?

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Jammu and Kashmir Bank Limited v. Shri Wakar Ahmed

Case brief

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