Allowed

Jammu and Kashmir Bank Limited v. M/S Makeup by Sam

DRT20 Apr 2026OA/60/2025

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the applicant bank's application for the recovery of ₹28,08,765/- with interest against the respondents, finding that the loan dues were duly proved. The Court issued a Recovery Certificate and directed the sale of hypothecated assets.

What did the court decide?

Allowed recovery of the principal amount with interest; issued Recovery Certificate; directed sale of hypothecated assets; liability is joint and several.

Jammu and Kashmir Bank Limited versus M/S Makeup by Sam — 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: 60/2025 Date of Institution: 02.01.2025 Date of Decision: 20.04.2026

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Jammu & Kashmir Bank Limited having its branches all over India and a branch at Near Ganta Ghar, Srinagar, Jammu And Kashmir.

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……..Applicant

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Vs.

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M/s Makeup By Sam, Situated at Rajbagh Near New Era School Srinagar, Kashmir through its proprietor Smt. Samina Mubashir.

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Smt. Samina Mubashir w/o Mubashir Manzoor, r/o Danpora, Brein Nishat, Srinagar, Kashmir.

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Sh. Manzoor Ahmad Wani s/o Mohammad Yasin Wani, r/o Danpora Brein Nishat, Srinagar.

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Sh. Mohammad Ashraf Khan S/o Ghulam Mohammad Khan R/o Alambar Colony, Lal Bazar, Srinagar.

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Sh. Abrar Hussain Dar s/o Fida Hussain, r/o Babapora Habba Kadal, Srinagar.

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……….Defendants

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Advocates

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Ms. Lovedeep Kaur proxy counsel for Ms. Puja Sharma, Counsel for the applicant bank.

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Defendants - ex parte vide order dated 21.08.2025 .

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OA for the Recovery of ₹28,08,765/- with interest from 02.01.2025.

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ORDER

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Jammu & Kashmir Bank Limited has filed this application under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993 (RDB Act) for the recovery of ₹28,08,765/- with interest against M/s. Makeup By Sam and others (defendants).

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Bank’s case is that on 12.07.2017, it had granted C.C. Limit of ₹14.00 Lacs to defendant No.1 through its proprietor i.e. defendant No.2 for Business purpose. The C.C. Limit was enhanced and renewed from

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time to time and lastly on 21.07.2020 for ₹18.00 Lacs. To secure the loan, Defendant No.1 had hypothecated assets (fully detailed in para No.3A of the application). Defendant Nos. 3 to 5 stood as guarantors. Again on 21.07.2020, at the request of defendant Nos.1 and 2, bank granted G.E.C.L. facility under J&K Bank Business Support Loan Scheme of ₹1.80 Lacs to defendant No.1 through its proprietor i.e. defendant No.2 for Business purpose. Defendant Nos. 3 to 5 stood as guarantors. Both the loan facilities were chargeable at different rates of interest. Defendants had duly acknowledged their liability towards the debt on 31.03.2022 and 19.07.2024. The defendants also made payments towards the G.E.C.L. on 03.09.2024 and towards the C.C. Limit on 01.11.2019. On 30.09.2024, a sum of ₹28,08,765/- was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.

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On 21.01.2025, summonses were sent to the defendants by registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 21.08.2025, they were proceeded ex parte . 4. In order to prove its case, the Bank has placed on record the affidavit of Sh. Ricky Mahajan, Manager along with the loan and security documents and marked them as Exhibit A-1 to A-25. 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 total loan of ₹19.80 Lacs and on 30.09.2024, a sum of ₹28,08,765/- was due. 6. Accordingly, the application of the bank for the recovery of ₹28,08,765/- (Rupees Twenty Eight Lacs Eight Thousand Seven Hundred Sixty Five Only) i.e. ₹26,52,818/- in C.C. Limit with interest @12.95% p.a. and ₹1,55,947/- in G.E.C.L. facility with interest @8.50%

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p.a. (both facilities) with monthly rests from 02.01.2025, 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 hypothecated assets fully detailed in para No.3A of the application as well as from the personal movable and immovable property(ies) of the defendants accordingly.

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Pending IAs, if any, stand disposed of.

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Recovery Certificate be issued accordingly.

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Parties are directed to appear before Recovery Officer on 22.05.2026, who is directed to distribute the sale proceeds of the hypothecated assets 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.

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Pronounced in the open Court. (A S Narang) Dated: 20.04.2026 Presiding Officer DRT-1, Chandigarh MANOJ KALRA

Jammu and Kashmir Bank Limited v. M/S Makeup by Sam

Case brief

What is this about?

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Jammu and Kashmir Bank Limited v. M/S Makeup by Sam

Case brief

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