Allowed

Icici Bank Limited v. Bhim Singh

DRT15 Jan 2026OA/815/2023

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an application filed by ICICI Bank for the recovery of Rs.36,89,315.23 along with interest and costs against the borrowers and guarantors. The order directed the issuance of a recovery certificate and appearance of parties before the Recovery Officer on 17.02.2026 for the distribution of sale proceeds of the mortgaged land.

What did the court decide?

Recovery of Rs.36,89,315.23 with interest @12% per annum from 12.04.2023, costs, and issuance of a recovery certificate.

Icici Bank Limited versus Bhim Singh — 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: 815/2023 Date of Institution: 12.04.2023 Date of Decision: 15.01.2026

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ICICI Bank Limited having its branches all over India and a branch at Village Shazadpur, Block Bassi Pathana, Fatehgarh Sahib, Punjab.

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……..Applicant

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Vs.

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Bhim Singh s/o Sh. Hari Singh, r/o Village Mardan Heri Pakala, Tehsil & District Patiala, Punjab.

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Rajwinder Singh s/o Sh. Hari Singh, r/o Village Mardan Heri Pakala, Tehsil & District Patiala, Punjab.

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Yadwinder Singh s/o Sh. Hari Singh, r/o Village Mardan Heri Pakala, Tehsil & District Patiala, Punjab.

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Labh Singh s/o Sh. Ishar Singh, r/o Village Chapar, Tehsil & District Patiala, Punjab.

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Jaswinder Singh s/o Sh. Labh Singh, r/o Village Chapar, Tehsil & District Patiala, Punjab.

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……….Defendants

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Advocates

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Sh. Karan Dev Ray proxy counsel for Sh. Himendra Pal Singh, Counsel for the applicant bank.

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Defendants - ex parte vide order dated 30.05.2024 .

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OA for the Recovery of Rs.36,89,315.23p with interest @12% per annum with half-yearly rests from 12.04.2023.

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ORDER

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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.36,89,315.23p with interest against Sh. Bhim Singh and others (defendants).

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Bank’s case is that on 30.07.2015, it had granted a loan of Rs.36,55,700/- to defendant Nos.1 to 3 in the form of K.C.C Limit for

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agricultural purpose. To secure the loan, Defendant Nos.1 to 3 had mortgaged their land (fully detailed in para No.3A of the application). Defendant nos. 4 and 5 stood as the guarantors. The loan was chargeable to interest @12% per annum with half-yearly rests. On 21.01.2023, a sum of Rs.36,89,315.23p was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.

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On 23.05.2023, summonses were sent to the defendants by registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 30.05.2024, they were proceeded ex parte .

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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-10.

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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.36,55,700/- and on 21.01.2023, a sum of Rs.36,89,315.23p was due.

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Accordingly, the application of the bank for the recovery of Rs.36,89,315.23p (Rupees Thirty Six Lacs Eighty Nine Thousand Three Hundred Fifteen and Paise Twenty Three Only) with interest @12% per annum with half-yearly rests from 12.04.2023, 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 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.

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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 17.02.2026, 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.

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Pronounced in the open Court. (A S Narang) Dated: 15.01.2026 Presiding Officer DRT-1, Chandigarh MANOJ KALRA

Icici Bank Limited v. Bhim Singh

Case brief

What is this about?

What did the court decide?

Icici Bank Limited v. Bhim Singh

Case brief

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What did the court decide?

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