Allowed

State Bank of India v. M/S Krish and Co.

DRT8 Sept 2026OA/2042/2024

Case brief

AI extract

What is this about?

This order pertains to an Original Application filed by the State Bank of India (SBI) under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993. The bank sought recovery of ₹24,55,574/- plus interest against M/s Krish & Co., its proprietor, and a guarantor. The representatives of the respondent failed to appear despite service of summons. The Presiding Officer accepted the bank's evidence, observing the loan was outstanding, and allowed the application in the absence of the respondents. A Recovery Certificate was directed to be issued.

What did the court decide?

Application for recovery of ₹24,55,574/- with interest @11.80% per annum allowed. Recovery Certificate issued.

State Bank of India versus M/S Krish and Co. — 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: 2042/2024 Date of Institution: 11.12.2024 Date of Decision: 08.09.2026

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SBI having its branches all over India and a branch at Stressed Assets Recovery Branch (SARB) at Administrative Office Building, 3rd Floor, Civil Lines, Fountain Chowk, Ludhiana, Punjab.

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……..Applicant

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Vs.

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M/s Krish & Co., Shop No.292, Patiala Mandi, Rampura Phul, Bathinda, Punjab through its Proprietor Smt. Sunita Bansal w/o Sh. Jagsir Pal.

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Smt. Sunita Bansal w/o Sh. Jagsir Pal s/o Sh. Hans Raj, r/o Gali No.7, Ward No.8, Backside Maan Hospital, Kalgidhar Colony, Rampura Phul, Bathinda, Punjab.

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2^nd Address: - r/o 158,10, SBS Colony, Rampura Phul, Bathinda, Punjab.

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Sh. Jagsir Pal s/o Sh. Hans Raj, R/o 158,10, SBS Colony, Rampura Phul, Bathinda, Punjab.

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2^nd Address: - r/o Gali No.7, Ward No.8, Backside Maan Hospital,

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Kalgidhar Colony, Rampura Phul, Bathinda, Punjab.

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……….Defendants

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Advocates

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Sh. Sonal Chhabra, Counsel for the applicant bank. Defendants- ex parte vide order dated 14.07.2025 .

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OA for the Recovery of ₹24,55,574/- with interest @11.80% per annum with monthly rests from 11.12.2024.

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ORDER

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SBI has filed this application under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993 (RDB Act) for the recovery of ₹24,55,574/- with interest against M/s Krish & Co. and others (defendants).

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Bank’s case is that on 05.12.2022, it had granted C.C. Limit under M.S.M.E. Scheme of ₹20.00 Lacs to defendant No.1 through its proprietor defendant No.2 for business purpose. To secure the loan, Defendant No.2 being the proprietor of defendant No.1 had hypothecated assets and defendant No.3 had mortgaged his property (fully detailed in para No.5.6 of the application). Defendant No.3 stood as guarantor vide Guarantee Agreement dated 05.12.2022. The loan was chargeable to interest @11.80% per annum with monthly rests. On 02.12.2024, a sum of ₹24,55,574/- was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.

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On 09.01.2025, summonses were sent to the defendants by registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 14.07.2025, 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. Sushil Kumar Srivastava, Chief Manager along with the loan and security documents and marked them as Exhibit A-1 to A-11. 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 ₹20.00 Lacs and on 02.12.2024, a sum of ₹24,55,574/- was due. 6. Accordingly, the application of the bank for the recovery of ₹24,55,574/- (Rupees Twenty Four Lacs Fifty Five Thousand Five Hundred Seventy Four Only) with interest @11.80% per annum with monthly rests from 11.12.2024, 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 property and hypothecated assets fully detailed in para No.5.6 of the application as

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well	as from the personal movable and immovab	le property(ies) of the
defe	ndants.
7.	Pending IAs, if any, stand disposed of.
8.	Recovery Certificate be issued accordingly.
9.	Parties are directed to appear before	Recovery Officer on
09.1	0.2026.
10.	A Copy of this order along with Recover	y Certificate be sent to
the	Recovery Officer as well as the parties.
Pron Date MANOJ KA	ounced in the open Court. d: 08.09.2026 LRA	(A S Narang) Presiding Officer DRT-1, Chandigarh

State Bank of India v. M/S Krish and Co.

Case brief

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State Bank of India v. M/S Krish and Co.

Case brief

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