Allowed

Icici Bank Limited v. Smt. Baljinder Kaur and Anotehr

DRT22 May 2026OA/1757/2022

Case brief

AI extract

What is this about?

The Tribunal allowed the bank's application for recovery of Rs.25.66 lakhs owed by defendants under a Kisan Credit Card facility. The bank proved the loan, hypothecation, and default. After noting reduced market rates, the Tribunal awarded 8% simple interest and directed recovery from mortgaged or personal assets.

What did the court decide?

Recovery of Rs.25,66,018.00 jointly and severally with costs and simple interest at 8% p.a. from the date of filing till realization.

Icici Bank Limited versus Smt. Baljinder Kaur and… — Contract and Commercial Disputes | DRT (2026)

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DEBTS RECOVERY TRIBUNAL-III, CHANDIGARH

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ORIGINAL APPLICATION NO.1757/2022

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PRESIDED OVER BY MRIDULESH KUMAR SINGH

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DATE OF INSTITUTION: 28.09.2022

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DATE OF DECISION: 22.05.2026

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ICICI Bank Ltd., company incorporated under the Companies Act, 1956 and a Banking Company within the meaning of the Banking Regulation Act, 1949 and is having its Registered Office at Land Mark, Race Course Circle, Vadodara-390007 and interalia having Branch at SCF. 1, Grain Market, Bhawanigarh, District Sangrur, Punjab through its Manager and Authorized Signatory Sh. Praveen Kumar.

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........A pplicant

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Versus

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Smt. Baljinder Kaur W/o Sh. Gurpreet Singh, R/o Village Sakrodi, Tehsil & District Sangrur, Punjab – 148026.

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Sh. Harshveer Singh Grewal S/o Sh. Gurpreet Singh, R/o Village Sakrodi, Tehsil & District Sangrur, Punjab – 148026.

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........Defendants

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Advocates:

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Argued Sh. Himendra Pal Singh, Advocate for the applicant (through VC)

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None for defendants (Already ex-parte vide order dated 20.05.2026).

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FINAL ORDER

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Present Original Application was instituted by the applicant under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993, against the defendants for recovery of Rs.25,66,018.00 (Rupees Twenty Five Lacs Sixty Six Thousand and Eighteen Only). The Original Application has been filed through Sh. Praveen Kumar, Manager, who is competent to institute the Original Application vide Power of Attorney dated 09.03.2021, which is Annexure A1 to this OA.

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The brief facts of the OA are that the defendants approached the applicant for grant of Kisan Credit Card Limit of Rs.13,00,000.00 for

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OA NO.1757/2022 ICICI BANK LTD. VS SMT. BALJINDER KAUR AND ANOTHER

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the 1^st year and Rs.19,03,000.00 for the 5^th year vide Credit Facility Application Form dated 10.05.2016, which is Annexure A2 to this OA. 3. The applicant sanctioned the Kisan Credit Card Limit of Rs.13,00,000.00 for 1^st Year and Rs.19,03,000.00 for 5^th Year vide Sanction Letter & Most Important Terms and Condition dated 24.05.2016, which is Annexure A3 to this OA and terms and conditions were duly accepted by the defendants.

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Defendant no.1 mortgaged her Immovable Property i.e., total Land measuring 33 Bigha 12 Biswa situated at Village Balad Kalan, Tehsil Bhawanigarh, District Sangrur vide Declaration under Punjab Agricultural Credit Operations and Miscellaneous Provisions (Banks) Act 1978, Section 4(1) dated 23.05.2016 and Request for creation of charge on Land in favour of Bank dated 23.05.2016 along with translation, which are Annexures A5 & A6 to this OA. Documents executed : Hypothecation Deed dated 24.05.2016, which is Annexure A4 to this OA; Overdue Notice dated 07.07.2022, along with postal receipts, which are Annexures A7 & A8 to this OA; Statement of account along with certificate, which is Annexure A9 to this OA. 5. The loan account became irregular and was classified as NPA and after adjusting debit and credit entries in loan account there was a debit of Rs.25,66,018.00, which is recoverable and the defendants were served recall notices but they did not repay the outstanding amount, therefore, the applicant requested to accept the application and to issue Recovery Certificate accordingly. 6. The defendants were served summons to appear before this Tribunal but no one appeared on behalf of defendants and they were proceeded ex-parte on 20.05.2026. 7. In support of the OA, affidavit of Sh. Praveen Kumar, Manager, ICICI Bank Ltd. has been filed. 8. Heard ex-parte arguments and perused record.

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OA NO.1757/2022 ICICI BANK LTD. VS SMT. BALJINDER KAUR AND ANOTHER

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It was argued by learned counsel for applicant through video conferencing that in view of the documentary evidence brought on record which had gone unrebutted, the applicant had proved its case. From the perusal of all the Annexures A1 to A7 to this OA, it is proved that the defendants approached applicant for availing of the loan facility which was granted to them and for that they had executed all the relevant documents in favour of the bank. The defendants failed to pay back the loan as per terms and conditions of the agreement between the parties. Subsequently, loan account was classified as NPA. From the documentary evidence brought on record, it is proved that applicant is entitled to recover a sum of Rs.25,66,018.00 (Rupees Twenty Five Lacs Sixty Six Thousand and Eighteen Only), along with interest from the defendants, jointly and severally, from the date of filing of the present Original Application till realization of the amount. 10. In so far as pendente lite and future rate of interest is concerned, the applicant in relief clause has claimed interest @12% with penal interest @2% from 03.07.2022 till the realization.

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The Tribunal is of the considered opinion that sometimes in appropriate cases the prerogative of mercy is the brightest jewel in the crown of the Judge. Keeping in view the facts and circumstances of the instant case including nature of the hypothecated assets/mortgaged property, undertaking of the defendants, quantum of loan and prevalent market rates of interest which have gone drastically downhill in yester years, while exercising the discretion vested in this Tribunal, this Tribunal deems it just and appropriate to grant simple interest @08.00%p.a. in the loan account from the date of filing of the OA till realization of the amount ordered vide this final order. It is ordered accordingly.

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In the result, the application is allowed declaring that the defendants are liable to pay to the applicant a total sum of Rs.25,66,018.00 (Rupees Twenty Five Lacs Sixty Six Thousand and Eighteen Only), jointly and severally, with costs, current and future simple interest @08.00%p.a. in the loan account from the date of filing

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OA NO.1757/2022 ICICI BANK LTD. VS SMT. BALJINDER KAUR AND ANOTHER

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of OA till the date of realization of the amount. Accordingly, the applicant shall be entitled to recover aforesaid amount from the sale of mortgaged property of the defendant no.1 in execution proceedings if not sold earlier under the provisions of the SARFAESI Act, 2002. If the dues of the applicant still remain unsatisfied, it shall be entitled to recover the same by attachment and sale of personal assets of the defendants. The applicant is at liberty to enforce the claim through due process of law.

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12. Any other application pending stands disposed of. 13. Issue Recovery Certificate accordingly. 14. Parties to appear before Learned Recovery Officer of this Tribunal on 15.06.2026. 15. Copy of this order be given dasti to the applicant and be sent to defendants through registered/speed post and this order be also uploaded on the official website of this Tribunal and record be consigned.

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Pronounced by me in the open Tribunal . Dated: 22.05.2026

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(MRIDULESH KUMAR SINGH) Presiding Officer, DRT-III, Chandigarh

Icici Bank Limited v. Smt. Baljinder Kaur and Anotehr

Case brief

What is this about?

What did the court decide?

Icici Bank Limited v. Smt. Baljinder Kaur and Anotehr

Case brief

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What did the court decide?

What the court decided

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