Allowed

Jammu and Kashmir Bank Limited v. Aijaz Ahmad Bhat (Aka Ajaz Ahmad Bhat)

DRT29 Jan 2026OA/1993/2024

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal, Chandigarh allowed the applicant bank's application for recovery of Rs.68,62,334.55p with interest against three defendants, who did not appear. The Tribunal issued a recovery certificate and directed the sale of mortgaged land.

What did the court decide?

Application allowed with costs; Recovery Certificate issued; Directions for sale of mortgaged land given.

Jammu and Kashmir Bank Limited versus Aijaz Ahmad… — 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: 1993/2024

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Date of Institution: 18.12.2024 Date of Decision: 29.01.2026

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Jammu and Kashmir Bank Limited having its branches all over India and a branch at Beehama Ganderbal, Jammu and Kashmir-191201 & LCU Bagaat Barzulla, Srinagar, Jammu and Kashmir

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……..Applicant

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Vs.

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Aijaz Ahmad Bhat (aka Ajaz Ahmad Bhat) S/o Abdul Rehman Bhat R/o Mir Mohalla, Zakura, Hazratbal, Srinagar, Jammu and Kashmir.

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Nazir Ahmad Bhat S/o Abdul Rehman Bhat R/o Syed Colony, Zakura, Srinagar, Jammu and Kashmir- Also at: Mir Mohalla, Old Zakura, Hazratbal, Srinagar, Jammu and Kashmir.

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Firdous Ahmad Bhat S/o Habib Ullah Bhat R/o Ghulab Bagh, Zakura, Srinagar, Jammu and Kashmir.

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……….Defendants

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Advocates

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Sh. Gaurav Thakur, Counsel for the applicant bank. Defendants - ex parte vide order dated 04.08.2025 .

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OA for the Recovery of Rs.68,62,334.55p with interest @8.85% per annum with monthly rests from 18.12.2024.

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ORDER

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Jammu and 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 Rs.68,62,334.55p with interest against Mr. Aijaz Ahmad Bhat and others (defendants).

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Bank’s case is that on 29.11.2017, it had granted a loan of Rs.78.00 Lacs to defendant No.1 in the form of Term Loan for Housing purpose. To secure the loan, Defendant no.1 had mortgaged his land (fully detailed in para No.3A of the application). Defendant nos.2 and 3 stood as the guarantors. The loan was chargeable to interest @8.85% per

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annum with monthly rests. On 30.11.2024, a sum of Rs.68,62,334.55p was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.

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On 30.12.2024, summonses were sent to the defendants by registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 04.08.2025, they were proceeded ex parte .

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In order to prove its case, the Bank has placed on record the affidavit of Sh. Ricky Mahajan, Manager along with the loan and security documents and marked them as Exhibit A-1 to A-6.

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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.78.00 Lacs and on 30.11.2024, a sum of Rs.68,62,334.55p was due. 6. Accordingly, the application of the bank for the recovery of Rs.68,62,334.55p (Rupees Sixty Eight Lacs Sixty Two Thousand Three Hundred Thirty Four and Paise Fifty Five Only) with interest @8.85% per annum with monthly rests from 18.12.2024, 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.3A 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. 8. Recovery Certificate be issued accordingly. 9. Parties are directed to appear before Recovery Officer on 05.03.2026, who is directed to distribute the sale proceeds of the mortgaged land as per the provisions of Section 19(20-AB) of the Act .

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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: 29.01.2026 Presiding Officer DRT-1, Chandigarh MANOJ KALRA

Jammu and Kashmir Bank Limited v. Aijaz Ahmad Bhat (Aka Ajaz Ahmad Bhat)

Case brief

What is this about?

What did the court decide?

Jammu and Kashmir Bank Limited v. Aijaz Ahmad Bhat (Aka Ajaz Ahmad Bhat)

Case brief

What is this about?

What did the court decide?

What the court decided

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