Allowed

Bank of India v. Smt. Ramandeep Kaur Mavi and Another

DRT11 Mar 2026OA/572/2025

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed an original application under Section 19 of the RDB Act, 1993 filed by Bank of India against borrowers and a guarantor. The court upheld the recovery claim of Rs. 29.89 lakhs, declared defendants liable jointly and severally, ordered uniform interest at 8% per annum, and directed the issuance of a Recovery Certificate.

What did the court decide?

Recovery Certificate issued; Defendants ordered to repay Rs.29,89,658.00 jointly and severally with simple interest @08% p.a. from filing date; liberty to enforce via sale of mortgaged or personal ass

Bank of India versus Smt. Ramandeep Kaur Mavi and Another — Banking and Recovery | DRT (2026)

¶1

DEBTS RECOVERY TRIBUNAL-III, CHANDIGARH

¶2

ORIGINAL APPLICATION NO.572/2025

¶3

PRESIDED OVER BY MRIDULESH KUMAR SINGH

¶4

DATE OF INSTITUTION: 30.04.2025

¶5

DATE OF DECISION: 10.03.2026

¶6

Bank of India, a body corporate constituted under the Banking Companies (Acquisition and Transfer of Undertakings) Act No. V of 1970, having its Head Office at "Star House" C-5, Block-G, Bandra Kurla Complex, Bandra (East), Mumbai-400051 and Branch Office amongst other places, at Bela Road, Ropar, District Roop Nagar (Punjab), through its Principal Cum Authorized Officer Ms. Nisha Chauhan, Senior Manager.

¶7

……..Applicant

¶8

Versus

¶9

Smt. Ramandeep Kaur Mavi W/o Sh. Satwinder Singh Mavi, Village Barhi, PO Pukhrali, Tehsil and District Roop Nagar, (Punjab)-140108.

¶10

2^nd Address: H.No.324, (F.F.) Sector 37-A, Chandigarh.

¶11

Sh. Ravinder Singh S/o Sh. Jagrup Singh, Village Khudaspur, PO Mianpur, Tehsil and District Roop Nagar, (Punjab)-140108.

¶12

…….Defendants

¶13

Advocates:

¶14

Argued by Sh. Anil Malhotra, Advocate proxy for Ms. Meena Malhotra, Advocate for the applicant

¶15

Defendants already ex-parte vide order dated 15.12.2025

¶16

FINAL ORDER

¶17

Present Original Application was instituted by the applicant under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993, against the defendants for recovery of Rs.29,89,658.00 (Rupees Twenty Nine Lacs Eighty Nine Thousand Six Hundred and Fifty Eight Only). The Original Application has been filed through Ms. Nisha Chauhan, Senior Manager of the applicant, who is competent to institute the Original Application vide Authority Letter dated

¶18

21.06.2024, which is Annexure A1 to this OA.

¶19

The brief facts of the OA are that defendant no.1 approached the applicant for grant KCC Limit of Rs.10.00 Lacs and Agriculture Over Draft (AGOD) Limit of Rs.5.00 Lacs vide Loan Applications dated

¶20

¶21

OA NO.572/2025 BANK OF INDIA VS. RAMANDEEP KAUR MAVI AND ANOTHER

¶22

04.12.2017, which are Annexures A2 & A3 to this OA. Defendant no. 2 stood as guarantor. 3. The applicant sanctioned the KCC Limit of Rs.10.00 Lacs and Agriculture Over Draft (AGOD) Limit of Rs.5.00 Lacs vide Sanction Letter dated 07.12.2017, which is Annexures A6 to this OA and the terms and conditions are accepted by defendants. 4. Defendants mortgaged their immovable property i.e., Land Measuring 33Kanal-11Marla (4.198 Acre) situated at Village Oliapur, Hadbast No. 459, Tehsil Balachaur, District SBS Nagar, Punjab vide Declaration dated 04.12.2017 u/s 4(1) of Punjab Agricultural Credit Operations and Miscellaneous Provisions (Banks) Act, 1978, along with its translation, which is Annexure A4 to this OA. Letter dated 04.12.2017 to Tehsildar/Sub Registrar for creation of charge, which is Annexure A5 to this OA. Documents executed: Demand Promissory Notes, Bearer Letters, Agreements of Hypothecation Cum Loan Agreement, Consolidated/ Multipurpose Stamp Undertaking, Demand Promissory Note, Bearer Letter, Agreement of Hypothecation of Loan Cum Hypothecation, Consolidated/ Multipurpose Stamp Undertakings, Letters of Declaration, Undertaking and Authority, Deeds of Guarantee, all dated 07.12.2017, which are Annexures A7 to A18 to this OA; Acknowledgements of Debt dated 05.02.2020, 28.02.2020, which are Annexures A19 & A20 to this OA; Acknowledgements of Debt dated 04.01.2023, which are Annexures A21 & A22 to this OA; Recall Notice dated 10.04.2025 and postal receipts dated 11.04.2025, which are Annexure A23(Colly) to this OA; Statements of accounts with certificate under Bankers Book Evidence Act, which are Annexures A24 & A25 to this OA. 5. The loan accounts became irregular and were classified as NPA and after adjusting debit and credit entries in loan accounts there were a debit of Rs.29,89,658.00 which is recoverable and the defendants were served recall notices but they did not repay the outstanding amount, therefore, the applicant requested to accept the application and to issue Recovery Certificate accordingly.

¶23

¶24

OA NO.572/2025 BANK OF INDIA VS. RAMANDEEP KAUR MAVI AND ANOTHER 6. The defendants were served notices to appear before this Tribunal but no one appeared on behalf of defendants and they were proceeded ex-parte vide order dated 15.12.2025. 7. In support of the OA, affidavit of Ms. Nisha Chauhan, Senior Manager, Bank of India has been filed. 8. Heard ex-parte arguments and perused record. 9. It was argued by proxy counsel through that in view of the documentary evidence brought on record which had gone unrebutted, the applicant had proved its case. From the perusal of all the Annexures A1 to A25 to this OA, it is proved that the approached the applicant for availing of the loan facilities which were granted to them and for that they had executed all the relevant documents in favour of the bank. The defendants failed to pay back the loans as per terms and conditions of the agreement between the parties. Subsequently, accounts of the defendants were classified as NPA. From the documentary evidence brought on record, it is proved that applicant is entitled to recover a sum of Rs.29,89,658.00 (Rupees Twenty Nine Lacs Eighty Nine Thousand Six Hundred and Fifty Eight Only), along with interest from the defendants, jointly and severally, from the date of filing of the present Original Application till realization of the accounts.

¶25

In so far as pendente lite and future rate of interest is concerned, the applicant in relief clause has claimed interest @10.20%p.a. in KCC Limit and @11.70% in AGOD, half yearly rests from 22.04.2025 till the realization.

¶26

The Tribunal is of the considered opinion that sometimes in appropriate cases the prerogative of mercy is the brightest jewel in the crown of the Judge. Keeping in view the facts and circumstances of the instant case including nature of the mortgaged property/hypothecated assets undertaking of the defendants, quantum of loan and prevalent market rates of interest which have gone drastically downhill in yester years, while exercising the discretion vested in this Tribunal, this Tribunal deems it just and appropriate to grant uniform simple interest @08.00%p.a. in both the loan accounts from the date of filing of the

¶27

¶28

OA NO.572/2025 BANK OF INDIA VS. RAMANDEEP KAUR MAVI AND ANOTHER

¶29

OA till realization of the amount ordered vide this final order. It is ordered accordingly. 11. In the result, the application is allowed declaring that the defendants are liable to pay to the applicant a total sum of Rs.29,89,658.00 (Rupees Twenty Nine Lacs Eighty Nine Thousand Six Hundred and Fifty Eight Only), jointly and severally, with costs, current and future simple interest @08.00%p.a. in both the loan accounts from the date of filing of OA till the date of realization of the amount. Accordingly, the applicant shall be entitled to recover aforesaid amount from the sale of hypothecated assets /mortgaged properties of the defendants in execution proceedings if not sold earlier under the provisions of the SARFAESI Act, 2002. If the dues of the applicant still remain unsatisfied, it shall be entitled to recover the same by attachment and sale of personal assets of the defendants. The applicant is at liberty to enforce the claim through due process of law. 12. Any other application pending stands disposed of. 13. Issue Recovery Certificate accordingly. 14. Parties to appear before Learned Recovery Officer of this Tribunal on 30.03.2026. 15. Copy of this order be given dasti to the applicant and be sent to defendants through registered/speed post and this order be also uploaded on the official website of this Tribunal and record be consigned. Pronounced by me in the open Tribunal . Dated: 11.03.2026 (MRIDULESH KUMAR SINGH) Presiding Officer, DRT-III, Chandigarh

Bank of India v. Smt. Ramandeep Kaur Mavi and Another

Case brief

What is this about?

What did the court decide?

Bank of India v. Smt. Ramandeep Kaur Mavi and Another

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

Rakesh Jain and Another versus Icici Bank Limited and Another

Axis Bank Ltd. versus Sh. Davinder Singh

State Bank of India versus Sh.Gurjant Singh

Axis Bank Ltd. versus M/S Ram Lal & Sons and Others

Kotak Mahindra Bank Limited versus Sh. Balwinder Singh and Others

Canara Bank versus M/S Urban Hub Collection and Another