Allowed

Capital Small Finance Bank Limited v. Sh. Preetu Singh

DRT8 Sept 2026OA/1902/2024

Case brief

AI extract

What is this about?

This judgment records an order where the Debt Recovery Tribunal allowed the application filed by Capital Small Finance Bank Ltd. for the recovery of Rs.20,23,370.90p with interest against three respondents. The bank proved its case through documentary evidence showing a loan of Rs.15.00 Lacs granted in 2014, secured by a mortgage and a guarantee, which remained unpaid. The defendants failed to appear after receiving summonses, leading to ex parte proceedings. The Tribunal upheld the bank's claim and directed the issuance of a Recovery Certificate.

What did the court decide?

Recovery of Rs.20,23,370.90p with interest @13.95% per annum from 30.11.2024; issuance of Recovery Certificate; sale of mortgaged land or personal property of respondents.

Capital Small Finance Bank Limited versus Sh. Preetu Singh — Banking and Recovery | 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: 1902 of 2024 Date of Institution: 30.11.2024 Date of Decision: 08.09.2026

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Capital Small Finance Bank Ltd. having its branches all over India and a branch at MIDAS, Corporate Park, 3rd Floor, 37 G.T. Road, Jalandhar, District Jalandhar, Punjab.

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……..Applicant Vs.

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Sh. Preetu Singh S/o Sh. Dhanna Ram R/o H.No.49, Village Ajtani, P.O Kot Badal Khan, Tehsil Phillaur, District Jalandhar, Punjab.

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Sh. Sulinder Pal S/o Sh. Preetu Singh R/o H.No.108, Village Ajtani, P.O Kot Badal Khan, Tehsil Phillaur, District Jalandhar, Punjab.

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Sh. Jagdish Chander S/o Sh. Jai Ram R/o VPO Mehatpur, Tehsil Nakodar, District Jalandhar, Punjab.

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……….Defendants

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Advocates

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Sh. Vikas Sharma, Counsel for the applicant bank. Defendants - ex parte .

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OA for the Recovery of Rs.20,23,370.90p with interest @13.95% per annum with half-yearly rests from 30.11.2024.

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ORDER

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Capital Small Finance Bank Ltd. (Bank) has filed this application under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993 (RDB Act) for the recovery of Rs.20,23,370.90p with interest against Sh. and others (defendants).

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Bank’s case is that on 07.06.2014, it had granted K.C.C. Limit of Rs.15.00Lacs to defendant nos. 1 and 2 for agricultural purpose. To secure the loan, Defendant no.1 had mortgaged his land (fully detailed in

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para No.5vi of the application). Defendant no.3 stood as the guarantor vide deed dated 07.06.2014. The loan was chargeable to interest @13.95% per annum with half-yearly rests. The defendants had acknowledged the liability towards the debt on 06.06.2016, 06.06.2018, 06.06.2020 and 06.06.2022. On 30.09.2024, a sum of Rs.20,23,370.90p was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.

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On 17.12.2024, summonses were sent to the defendants by registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 20.05.2025, they were proceeded ex parte .

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In order to prove its case, the Bank has placed on record the affidavit of Mr. Munish Sharma, Authorised Officer Branch Manager along with the loan and security documents and marked them as Exhibit A-1 to A-14.

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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.15.00Lacs and on 30.09.2024, a sum of Rs.20,23,370.90p was due. 6. Accordingly, the application of the bank for the recovery of Rs.20,23,370.90p (Rupees Twenty Lacs twenty Three Thousand Three Hundred and Seventy Only) with interest @13.95% per annum with halfyearly rests from 30.11.2024, 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.5vi of the application as well as from the personal movable and immovable property(ies) of the defendants.

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Pending IAs, if any, stand disposed of.

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Recovery Certificate be issued accordingly. 9. Parties are directed to appear before Recovery Officer on 09.10.2026. 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: 08.09.2026 Presiding Officer DRT-1, Chandigarh

Capital Small Finance Bank Limited v. Sh. Preetu Singh

Case brief

What is this about?

What did the court decide?

Capital Small Finance Bank Limited v. Sh. Preetu Singh

Case brief

What is this about?

What did the court decide?

What the court decided

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