The Debts Recovery Tribunal allowed the bank's application for recovery of principal and interest under Section 19 of the RDB Act after finding the cause of proof established on record through loan documents and issuance of recall notice. An ex parte order was made due to non-appearance.
Order for recovery of Rs.21,70,625.90 with interest allowed; Recovery Certificate issued;
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
IN THE DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH
BEFORE: A S NARANG, PRESIDING OFFICER
OA No: 2004/2024 Date of Institution: 13.12.2024 Date of Decision: 25.08.2026
Axis Bank Ltd., B/u SCO No.367-368, 3rd Floor, Sector 34-A, Chandigarh.
…Applicant
Vs.
…Defendants
Advocates
Sh. Gaurav Gupta, Counsel for the Applicant Bank (on Vc). Defendants – ex parte .
OA for the Recovery of Rs.21,70,625.90p with interest @12.25% per annum with half-yearly rests from 13.12.2024.
ORDER
2
defendants had acknowledged their liability towards the debt on 15.06.2018 and 20.10.2020. On 08.11.2024, Bank issued recall notice to the defendants. On 29.10.2024, a sum of Rs.21,70,625.90p was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.
3
3 issues framed by the court
Whether the Debt Recovery Tribunal has jurisdiction under Section 19 of the RDB Act to recover dues acknowledged by the defendants.
Whether the application for recovery of principal and interest allowed despite ex parte proceedings.
Whether the recovery certificate should be issued against the mortgaged properties and personal assets of the borrowers.
1 provisions across 1 enactments
Axis Bank Ltd.
Amarjit Singh
Manjeet Kaur
A S Narang
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
