The DRT allowed an application filed by Kotak Mahindra Bank for recovery of ₹53,69,696.60p with interest from three defendants who failed to appear. The application was proceeds ex parte after service of summonses.
Decree for recovery of ₹53,69,696.60p with interest; issuance of Recovery Certificate; order for sale of mortgaged land.
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: 680/2024 Date of Institution:27.04.2024 Date of Decision: 18.02.2026
Kotak Mahindra Bank Limited (erstwhile ING Vyasa Bank) having its branches all over India and a branch at SCO-153-154-155, Basement, Sector- 9C, Madhya Marg, Chandigarh.
……..Applicant
Vs.
Wala, Tehsil Ferozepur, District Ferozepur, Punjab.
……….Defendants
Advocates
Sh. Rajan Puri, Counsel for the applicant bank. Defendants - ex parte vide order dated 27.11.2024 .
OA for the Recovery of ₹53,69,696.60p with interest @12.20% per annum with half-yearly rests from 27.04.2024.
ORDER
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was chargeable to interest @12.20% per annum with half-yearly rests. On 05.03.2024, a sum of ₹53,69,696.60p was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.
3
mortgaged land and standing crops as per the provisions of Section 19(20-AB) of the Act . 10. 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: 18.02.2026 Presiding Officer DRT-1, Chandigarh MANOJ KALRA
2 issues framed by the court
Whether the applicant bank is entitled to recovery of the outstanding loan amount with interest under Section 19 of the RDB Act.
Whether the defendants are bound by an ex parte order due to their failure to appear after proper service of summonses.
1 provisions across 1 enactments
Kotak Mahindra Bank Limited
Smt. Davinder Kaur
Sh. Harinder Singh
Sh. Gurpreet Singh
A S Narang
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
