Allowed

Idbi Bank v. M/S Gandhi Tent House

DRT9 Jan 2026OA/739/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an application under Section 19 of the RDB Act filed by IDBI Bank for recovery of Rs. 43.63 lakhs plus interest against a proprietorship firm, its proprietor, and a guarantor, pending ex parte due to non-appearance. The Tribunal decreed recovery from mortgaged and personal assets.

What did the court decide?

Recovery of Rs. 43,63,610.72 with interest @11.65% p.a. from 04.02.2022 allowed; Recovery Certificate issued; sale of mortgaged property and personal assets directed.

Idbi Bank versus M/S Gandhi Tent House — Banking and Recovery | DRT (2026)

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IN THE DEBTS RECOVERY TRIBUNAL-1, CHANDIGARH

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BEFORE: A S NARANG, PRESIDING OFFICER

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OA No: 739/2022 Date of Institution: 04.02.2022 Date of Decision: 09.01.2026

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IDBI Bank having its branches all over India and a branch at Lal Chand & Sons. Talwandi Road. Near Sainik Rest House, Faridkot, Punjab.

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... . . ....Applicant

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M/s Gandhi Tent House (a proprietorship Hrm) through its proprietor Sh. Rakesh Gandhi, Line Bazar, Street No.1, Faridkot. District Faridkot. Punjab.

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Sh. Rakesh Gandhi s/o Sh. Varinder Lal Gandhi, (proprietor of M/s Gandhi Tent House) r/o H.No.352. Line Bazar, opp. Bhaiya Sweets, Faridkot, District Faridkot. Punjab.

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Smt. Asha Rani w/o Sh. Varinder Lal Gandhi. r/o H.No.352, Line Bazar. C)pp. Bhaiya Sweets, Faridkot, District Faridkot, Punjab. ..........Defendants

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Advocates

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Sh. TK Joshi. Counsel for the applicant bank.

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Defendants - ex parte /ide order dated 27.01.2023 .

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OA for the Recovery of Rs.43,63,610.72p with interest @11.65% per annum with monthly rests from 04.02.2022.

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ORDER

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1 IDBI Bank has Oled this application under Section 19 of the Recovery of Debts and Bankruptcy Act. 1993 (RDB Act) for the recovery of Rs.43.63.610.72p with interest against M/s Gandhi Tent House and others (defendants).

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9 Bank's case is that on 12.06.2015. it had granted a Term Loan of Rs.20.00 Lacs and an Overdraft Limit of Rs.30.00 Lacs to defendant No. 1 through its proprietor i.e. defendant No.2 for Business purpose. To secure the loans. Defendant No.3 had mortgaged her property (fUlly detailed in para No.3A of the application). Defendant No.3 stood as guarantor vide

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guarantee agreement (Exhibit A-5). The above said loans were chargeable to interest @11.65% (Term Loan) with yearly rests and @ 10.05% (OD Limit) per annum with monthly rests. Again on 19.01.2019. applicant bank renewed the existing OD limit along with Term Loan and reduced the Term Loan of Rs.20.00 Lacs to Rs.9.68 Lacs vide Sanction Letter dated 19.01 .2019. Again on 26. 1 1 .2020, during the COVID- 19 pandemic period. applicant bank had granted an Additional working Capital Term Loan of Rs.5.90 Lacs under GECL Scheme. Defendant No.3 stood as guarantor for all the facilities vide Guarantee invocation agreement dated 26.08.2021 (Annexure A-31 ). Defendants had duly acknowledged their liability towards the debt on 29.10.2020. On 01.05.2021, a sum ol Rs.43.63,610.72p was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence. this application.

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On 04.05.2022. summonses were sent to the defendants by registered post, which were duly served. However. defendants did not put in appearance. Vide order dated 27.0 1 .2023. they were proceeded ex parte . 4. In order to prove its case. the Bank has pl,Iced on record the affidavit of Sh. Parveen Bansal, Assistant General Manager along with the loan and security documents and marked them as Exhibit A-1 to A-32. 5. 1 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 loan of under various schemes and on 0 1 .05.202 1 . a sum of Rs.43.63.610.72p was due.

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Accordingly. the application of the bank for the recovery of Rs.43.63.610.72p (Rupees Forty Three Lacs Sixty Three Thousand Six Hundred Ten and Paise Seventy Two Only) with interest @11.65% per annum with monthly rests from 04.02.2022. till the date of payment is hereby allowed with costs. The liability of all the defendants would be

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joint and several. Bank can recover its dues by the sale of mortgaged
property fully detailed in para No.3 A of the application as well as from
the personal movable and immovable property(ies) of the defendants.
7. Pending TAs. if any. stand disposed of.
8. Recovery Certificate be issued accordingly.
9. Parties are directed to appear before Recovery Officer on
11.02.2026, who is directed to distribute the sale proceeds of the
mortgaged property and hypothecated assets as per the pro,',isions of
Section 19(20-AB) of the Act.
10. A Copy of this order along with Recovery CertincaA be sent to the
IR( e c o v e r y 1(1iqb app) tDfi c e r a s \ v e 1 1 a s t he parties VJ &M W/
Prono"n”d i" th' 'P'” c'"'t. LWhta
Dated: 09.01.2026
NIA\OJ KAI_RA

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DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH

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OA/739/2022 IDBI Bank

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M/s Gandhi Tent House and others

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09.01.2026 Item No. 119 Vide separate detailed order passed today, OA has been allowed with costs. File be „n,ign,d t, „,„d „,m. h

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bIAN(D kAI ItA

Idbi Bank v. M/S Gandhi Tent House

Case brief

What is this about?

What did the court decide?

Idbi Bank v. M/S Gandhi Tent House

Case brief

What is this about?

What did the court decide?

What the court decided

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