Allowed

Jammu and Kashmir Bank Limited v. M/S Wani Garments

DRT21 Apr 2026OA/6/2025

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal, Chandigarh, allowed a debtor recovery application filed by Jammu & Kashmir Bank Ltd. against four defendants. The court found that a principal sum of ₹29,18,680.64 with interest was due as of November 30, 2024. After hearing the bank ex parte, the court decreed recovery of the dues and ordered the issuance of a recovery certificate for execution.

What did the court decide?

Recovery of ₹29,18,680.64 including principal and interest with monthly rests, allowing ex parte proceedings. Issuance of recovery certificate directed.

Jammu and Kashmir Bank Limited versus M/S Wani Garments — Banking and Recovery | DRT (2026)

¶1

IN THE DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH

¶2

BEFORE: A S NARANG, PRESIDING OFFICER

¶3

OA No: 6 of 2025 Date of Institution: 23.12.2024 Date of Decision: 21.04.2026

¶4

Jammu & Kashmir Bank Ltd. having its branches all over India and a branch at M A Road, Srinagar, Jammu and Kashmir.

¶5

……..Applicant Vs.

¶6

M/s Wani Garments, a Proprietorship Concern, At Nai Teng, Lar, District Ganderbal, Jammu and Kashmir- 191131 through its Proprietor Shri Sohail Ahmad Wani son of Shri Ghulam Hassan Wani.

¶7

Shri Sohail Ahmad Wani son of Shri Ghulam Hassan Wani, Proprietor of M/s Wani Garments, Resident of Shah Mohalla, Lar, District Ganderbal, Jammu and Kashmir.

¶8

Shri Ghulam Hassan Wani son of Shri Abdul Aziz Wani, Resident of Shah Mohalla, Lar, District Ganderbal, Jammu and Kashmir.

¶9

Shri Riyaz Ahmad Mir son of Late Shri Abdul Rehman Mir, Resident of Repora, Lar, District Ganderbal, Jammu and Kashmir.

¶10

……….Defendants

¶11

Advocates

¶12

Sh. Vivek Verma, Counsel for the applicant bank. Defendants - ex parte .

¶13

OA for the Recovery of ₹29,18,680.64p with interest from 23.12.2024.

¶14

ORDER

¶15

Jammu & Kashmir 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 ₹29,18,680.64p with interest against M/s Wani Garments and others (defendants).

¶16

Bank’s case is that on 08.03.2019, it had granted a loan of ₹14.00Lacs to defendant nos. 1 and 2 in the form of C.C Limit for agricultural purpose. On 18.11.2019, the C.C. Limit was enhanced from

¶17

¶18

₹14.00Lacs to ₹25.00Lacs. To secure the loan, Defendant no.3 had mortgaged his land (fully detailed in para No.3A of the application). Defendant nos.3 and 4 stood as the guarantors. On 02.06.2020, bank granted a W.C.T.L. (G.E.C.L.) of ₹1.84Lacs to the defendant nos. 1 and 2. On 18.01.2022, bank granted another W.C.T.L. (G.E.C.L.) of ₹92,000/- to the defendant nos.1 and 2. The loans were chargeable to different rates of interest. The defendants had acknowledged the liability towards the debt on 15.05.2023 and 15.05.2024. On 30.11.2024, a sum of ₹29,18,680.64p was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.

¶19

On 13.01.2025, summonses were sent to the defendants by registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 17.07.2025, they were proceeded ex parte . 4. In order to prove its case, the Bank has placed on record the affidavit of Mr. Ashish Bhasin, Manager along with the loan and security documents and marked them as Exhibit A-1 to A-44. 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 loans under different schemes and on 30.11.2024, a sum of ₹29,18,680.64p was due. 6. Accordingly, the application of the bank for the recovery of ₹29,18,680.64p (Rupees Twenty Nine Lacs Eighteen Thousand Six Hundred and Eighty and Sixty Four Paise Only) ₹27,56,096.50p with interest @11.45% per annum in the C.C. Limit; ₹37,989.62p with interest @9.25% per annum in G.E.C.L. Limit and ₹30,630/- with interest @9.25% per annum all with monthly rests from 23.12.2024, till the date of payment is hereby allowed with costs. The liability of

¶20

¶21

Defendant nos. 1 and 2 would be joint and several for the whole decretal amount whereas the liability of Defendant nos. 1 to 4 would be joint and several for the amount due in C.C. Limit only. 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.

¶22

Pending IAs, if any, stand disposed of. 8. Recovery Certificate be issued accordingly. 9. Parties are directed to appear before Recovery Officer on 25.05.2026, who is directed to distribute the sale proceeds of the mortgaged property(ies) as per the provisions of Section 19(20-AB) of the Act . 10. A Copy of this order along with Recovery Certificate be sent to the Recovery Officer as well as the parties.

¶23

Pronounced in the open Court. (A S Narang) Dated: 21.04.2026 Presiding Officer DRT-1, Chandigarh (Law Researcher)

Jammu and Kashmir Bank Limited v. M/S Wani Garments

Case brief

What is this about?

What did the court decide?

Jammu and Kashmir Bank Limited v. M/S Wani Garments

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

Coram

Case details

Similar cases

Sulaiman Kavungathodi versus Axis Bank

Punjab National Bank versus Deepak Chaturvedi

Jammu and Kashmir Bank Limited versus Shri Wakar Ahmed

Prafulla Kumar versus Authum Investment Infrastructure Limited

Icici Bank Limited versus Mr. Kuldeep Singh

Canara Bank versus Baljit Singh