Allowed

Idfc First Bank Ltd. v. Mr Ramandeep Singh

DRT24 Aug 2026OA/1960/2023

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the applicant bank's application for recovery of dues amounting to ₹21,69,677.22 with interest from the respondents. The court found the loan advanced and the amount due proven, allowing recovery from personal assets and directing issuance of a recovery certificate.

What did the court decide?

Recovery of ₹21,69,677.22 with interest @12% per annum allowed with costs; recovery certificate to be issued.

Idfc First Bank Ltd. versus Mr Ramandeep Singh — 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: 1960 of 2023 Date of Institution: 28.11.2023 Date of Decision: 24.08.2026

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IDFC First Bank Ltd. having its branches all over India and a branch at SCO-47, 1^st Floor, Madhya Mar, Sector 26, Chandigarh.

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……..Applicant

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1. Mr. Ramandeep Singh 2. Mrs. Lakhwinder Kaur 3. Mrs. Manjot Kaur 4. Mrs. Sarbjit Singh

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All residents of: 6, Sadar Complex, Tahliwala Chowk, Sultanwind Road, Tehsil And Distt. Amritsar, Amritsar.

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……….Defendants

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Advocates

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Sh. Aditya Grover, Counsel for the applicant bank. Defendants - ex parte .

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OA for the Recovery of ₹21,69,677.22p with interest @12% per annum with monthly rests from 28.11.2023. ORDER

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IDFC First 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 ₹21,69,677.22p with interest against Sh. Ramandeep Singh and others (defendants).

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Bank’s case is that on 31.08.2018, it had granted a loan of ₹30.28Lacs to the defendants in the form of Loan Against property for business purpose. To secure the loan, Defendants had mortgaged their property which has been sold under SARFAESI Act for a sale consideration of ₹21,00,735/- vide sale certificate dated 26.10.2023. The loan was chargeable to interest @12% per annum with monthly rests. On 30.09.2023, a sum of ₹21,69,677.22p was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.

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On 19.12.2023, summonses were sent to the defendants by registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 23.04.2025, they were proceeded ex parte .

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4. In order to prove its case, the Bank has placed on record the affidavit of Mr. Savinder Singh, Manager Legal along with the loan and security documents and marked them as Exhibit A-1 to A-8.
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
₹30.028Lacs and on 30.09.2023, a sum of ₹21,69,677.22p was due.
6. Accordingly, the application of the bank for the recovery of
₹21,69,677.22p (Rupees Twenty One Lacs Sixty Nine Thousand Six
Hundred Seventy Seven and Twenty Two Paise Only) with interest
@12% per annum with monthly rests from 28.11.2023, 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 from the personal
movable and immovable property(ies) of the defendants. The Bank is
directed to file revised statement of Accounts before the Recovery
Officer. 7. Pending IAs, if any, stand disposed of.
8. Recovery Certificate be issued accordingly.
9. Parties are directed to appear before Recovery Officer on
25.09.2026.
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: 24.08.2026 Presiding Officer DRT-1, Chandigarh

Idfc First Bank Ltd. v. Mr Ramandeep Singh

Case brief

What is this about?

What did the court decide?

Idfc First Bank Ltd. v. Mr Ramandeep Singh

Case brief

What is this about?

What did the court decide?

What the court decided

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