Allowed

Indusind Bank Limited v. Beant Singh

DRT24 Apr 2026OA/2175/2022

Case brief

AI extract

What is this about?

DT-I, Chandigarh allowed an original application filed by IndusInd Bank for recovery of approximately ₹26.30 Lacs along with interest from three defendants who failed to repay agricultural loans secured by mortgaged land, proceeding ex parte.

What did the court decide?

Recovery of ₹26,29,563/- with interest; issuance of Recovery Certificate; direction to sell mortgaged land and distribute proceeds.

Indusind Bank Limited versus Beant Singh — 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: 2175/2022 Date of Institution: 03.11.2022 Date of Decision: 24.04.2026

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IndusInd Bank having its branches all over India and a branch at SCO No.62, 2^nd Floor, Sector 32-C, Chandigarh.

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……..Applicant

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Vs.

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Beant Singh s/o Sh. Surjit Singh, r/o H.No.132, Village Ganga, Tehsil Bathinda, Punjab.

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Ranjit Kaur d/o Sh. Gurjit Singh, r/o H.No.132, Ganga, Tehsil Bathinda, Punjab.

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Lakhwinder Kaur d/o Sh. Beant Singh, r/o H.No.132, Ganga, Tehsil Bathinda, Punjab.

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……….Defendants

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Advocates

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Ms. Dipti Toni, Counsel for the applicant bank. Defendants - ex parte vide order dated 10.09.2025 .

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OA for the Recovery of ₹26,29,563/- with interest @12% per annum with half-yearly rests from 03.11.2022.

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ORDER

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IndusInd Bank has filed this application under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993 (RDB Act) for the recovery of ₹26,29,563/- with interest against Sh. Beant Singh and others (defendants).

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Bank’s case is that on 23.03.2016, it had granted K.C.C. Limit of ₹25.00 Lacs and a Term Loan of ₹3.00 Lacs to defendant Nos.1 and 2 for agricultural purpose. To secure both the loans, Defendant No.1 had mortgaged his agricultural land (fully detailed in para No.3A of the application). Defendant No.3 stood as guarantor for both the loan facilities. Both the loan facilities were chargeable at different rates of

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interest. On 02.08.2022, a sum of ₹26,29,563/- was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.

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On 15.12.2022, summonses were sent to the defendants by registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 10.09.2025, 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. Deepak Goyal, Authorized Officer along with the loan and security documents and marked them as Exhibit A-1 to A-14. 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 total loan of ₹28.00 Lacs (₹25.00 Lacs in K.C.C. Limit and ₹3.00 Lacs in Term Loan) and on 02.08.2022, a sum of ₹26,29,563/- was due. 6. Accordingly, the application of the bank for the recovery of ₹26,29,563/- (Rupees Twenty Six Lacs Twenty Nine Thousand Five Hundred Sixty Three Only) with interest @12% p.a. with half-yearly rests from 03.11.2022, 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. 7. Pending IAs, if any, stand disposed of. 8. Recovery Certificate be issued accordingly. 9. Parties are directed to appear before Recovery Officer on 28.05.2026, who is directed to distribute the sale proceeds of the

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mortgaged land and standing crops 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: 24.04.2026 Presiding Officer DRT-1, Chandigarh MANOJ KALRA

Indusind Bank Limited v. Beant Singh

Case brief

What is this about?

What did the court decide?

Indusind Bank Limited v. Beant Singh

Case brief

What is this about?

What did the court decide?

What the court decided

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