The Debts Recovery Tribunal allowed the applicant Bank of India's application for recovery of Rs.55,81,080/- and interest with costs, directing the issuance of a Recovery Certificate.
Application for recovery of Rs.55,81,080/- with interest allowed with costs; Recovery Certificate issued.
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IN THE DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH
BEFORE: A S NARANG, PRESIDING OFFICER
OA No: 1716/2024 Date of Institution: 25.10.2024 Date of Decision: 13.07.2026
Bank of India, B/u Garha, Jalandhar (Punjab).
...Applicant
Vs.
……….Defendants
Advocates
Mr. Anil Malhotra, Counsel for the applicant bank. None for defendants.
OA for the Recovery of Rs.55,81,080/- with interest @10.20% per annum with monthly rests from 25.10.2024.
ORDER
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18), 15/2(0-11), 16(8-0), I7(8-0), 18(8-0), 23/2(6-0), 24(8-0), 25(8-0), 16//1(8-0), 20(8-0), 21(8-0), 22(8-0), 17//3/2(6-11), 4(8-0), 5(8-0), 6/1(24),7(6-0), 8/1(4-16), 13/2(0-13), 25//1(8-0), 2(8-0), 9/1 (2-0) , 10/1(2-0), 11/2/1(1- 13), kite 24, situated in village Sapror, Tehsil Phagwara, District Kapurthala (Punjab) (fully detailed in para No.7 of the application). Defendant No.2 stood as Guarantor. The loan was chargeable to interest @10.20% per annum with monthly rests. Defendants had acknowledged their liability towards the debt on 14.07.2023. On 08.10.2024, a sum of Rs.55,81,080/- was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.
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No.7) of the application as well as from the personal movable and immovable property(ies) of the defendants.
Pronounced in the open court. (A S Narang) Dated: 13.07.2026 Presiding Officer DRT-1, Chandigarh
HARSH
1 issue framed by the court
Whether the applicant bank is entitled to recover the outstanding debt with interest and costs.
1 provisions across 1 enactments
Bank of India, B/u Garha, Jalandhar (Punjab)
Sh. Vardeep Singh Sodhi
Sh. Gurmeet Singh
A S Narang
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
