The Tribunal allowed the bank's application for recovery of ₹27.27 lakhs with interest. The bank proved the loan advance, default, and security creation. Recovery proceedings directed against all defendants jointly.
Application allowed with costs. Recovery Certificate issued. Recovery Officer directed to sell mortgaged land and distribute proceeds.
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: 226/2022 Date of Institution: 30.12.2021 Date of Decision: 19.05.2026
Kotak Mahindra Bank Limited having its branches all over India and a branch at SCO No. 153-155, Sector 9-C, Chandigarh.
……..Applicant
Vs.
……….Defendants
Advocates
Sh. Paras Money Goyal, Counsel for the applicant bank. Defendants- ex parte vide order dated 05.12.2023 .
OA for the Recovery of ₹27,26,636.06/- with interest @12% per annum with half-yearly rests from 30.12.2021.
ORDER
2
1 issue framed by the court
Whether the bank's application for recovery of outstanding loan dues and interest is maintainable under Section 19 of the RDB Act.
2 provisions across 1 enactments
Kotak Mahindra Bank Limited
Paramjit Kaur
Balwant Singh
Harpinder Singh
A S Narang
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
