Allowed

Icici Bank Limited v. Jatinder Singh

DRT17 Feb 2026OA/810/2023

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an application filed by ICICI Bank for the recovery of Rs. 20,36,522/- along with interest from two respondents. The bank proved the loan advance and the outstanding dues. The court granted permission for recovery through the sale of mortgaged land and personal property and directed the issuance of a recovery certificate.

What did the court decide?

Recovery of Rs. 20,36,522/- with interest @12.75% per annum was allowed; Recovery Certificate issued for sale of mortgaged land.

Icici Bank Limited versus Jatinder Singh — Banking and Recovery | DRT (2026)

¶1

IN THE DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH

¶2

BEFORE: A S NARANG, PRESIDING OFFICER

¶3

OA No: 810/2023 Date of Institution: 06.04.2023 Date of Decision: 17.02.2026 ICICI Bank Limited having its branches all over India and a branch at ……..Applicant Vs.

¶4

ICICI Bank Limited having its branches all over India and a branch at SCO-237-238, Sector-20 Panchkula, Haryana.

¶5

Jatinder Singh s/o Sh. Manjir Singh, r/o Mand Gurdaspur, Punjab.

¶6

Manjinderpal Singh s/o Sh. Lakhbir Singh, r/o Mand Gurdaspur, Punjab.

¶7

……….Defendants

¶8

Advocates

¶9

Mr. Kaveesh proxy counsel for Sh. Puneet Tuli, Counsel for the applicant bank. Defendants - ex parte vide order dated 30.05.2024 . OA for the Recovery of Rs.20,36,522/- with interest @12.75% per annum with half-yearly rests from 06.04.2023. ORDER

¶10

ICICI Bank Limited has filed this application under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993 (RDB Act) for the recovery of Rs.20,36,522/- with interest against Sh. Jatinder Singh and another (defendants).

¶11

Bank’s case is that on 18.12.2019, it had granted a loan of Rs.14.97Lacs to defendants in the form of K.C.C Limit for agricultural purpose. To secure the loan, Defendants had mortgaged their land (fully detailed in para No.3A of the application). The loan was chargeable to interest @12.75% per annum with half-yearly rests. On 21.01.2023, a sum of Rs.20,36,522/- was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.

¶12

On 23.05.2023, summonses were sent to the defendants by registered post, which were duly served. However, defendants did not

¶13

¶14

put in appearance. Vide order dated 30.05.2024, they were proceeded_ex_ parte.
4. In order to prove its case, the Bank has placed on record the
affidavit of Sh. Parveen Kumar, Authorized Officer along with the loan and security documents and marked them as Exhibit A-1 to A-8.
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 the loan of
Rs.10.00 Lacs and on 21.01.2023, a sum of Rs.20,36,522/- was due.
6. Accordingly, the application of the bank for the recovery of
Rs.20,36,522/- (Rupees Twenty Lacs Thirty Six Thousand Five Hundred
Twenty Two Only) with interest @12.75% per annum with half-yearly rests from 06.04.2023, till the date of payment is hereby allowed with
costs. The liability of both the defendants would be joint and several.
Bank can recover its dues by the sale of mortgaged land fully detailed in
para No.3A of the application as well as from the personal movable and immovable property(ies) of the defendants.
7. Pending IAs, if any, stand disposed of.
8. Recovery Certificate be issued accordingly.
9. Parties are directed to appear before Recovery Officer on
27.03.2026,who is directed to distribute the sale proceeds of the
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: 17.02.2026 Presiding Officer DRT-1, Chandigarh MANOJ KALRA

Icici Bank Limited v. Jatinder Singh

Case brief

What is this about?

What did the court decide?

Icici Bank Limited v. Jatinder Singh

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

State Bank of India versus M/S Bhagwati Enterprises

Icici Bank Limited versus Ram Krishan

Hdfc Bank versus Gurlal Singh

Icici Bank Limited versus Shreyam Enterprise

Hasna Bewa versus Punjab National Bank

Bank of India versus Shri Raman Kumar Alias Raman