Allowed

Kotak Mahindra Bank Limited v. Amarjeet Singh

DRT29 Aug 2026OA/944/2022

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed the bank's application under Section 19 RDB Act for recovery of dues. The court held the bank proved its case and directed joint and several liability of defendants, ordering recovery from mortgaged land and personal assets with a recovery certificate.

What did the court decide?

Recovery of Rs. 1,04,05,427/- with interest allowed; Recovery Certificate issued; Recovery from mortgaged land and personal property directed.

Kotak Mahindra Bank Limited versus Amarjeet Singh — Contract and Commercial Disputes | 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: 944 of 2022 Date of Institution: 09.05.2022 Date of Decision: 29.08.2026

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Kotak Mahindra Bank Ltd. having its branches all over India and a branch at Missarpura, District Gurdaspur, Punjab.

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……..Applicant

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Vs.

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Amarjeet Singh s/o Satwant Singh r/o Village Chaudhariwal, Tehsil Batala, District Gurdaspur, Punjab.

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Satwant Singh s/o Banta Singh r/o Village Chaudhariwal, Tehsil Batala, District Gurdaspur, Punjab.

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Paramjeet Singh s/o Satwant Singh r/o Village Chaudhariwal, Tehsil Batala, District Gurdaspur, Punjab.

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Baljinder Singh s/o Satwant Singh r/o Village Chaudhariwal, Tehsil Batala, District Gurdaspur, Punjab.

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Pal Kaur w/o Satwant Singh r/o Village Chaudhariwal, Tehsil Batala, District Gurdaspur, Punjab.

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Jasvir Singh s/o Desa Singh r/o H.no.123, Village Rangarh, Nangal (Vadda), Tehsil Batala, District Gurdaspur, Punjab.

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……….Defendants

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Advocates

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Sh. J.S. Sehgal, Counsel for the applicant bank. Defendants - ex parte .

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OA for the Recovery of Rs.1,04,05,427/- with interest @12% per annum with half-yearly rests from 09.05.2022.

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ORDER

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Kotak Mahindra Bank Ltd. (Bank) has filed this application under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993 (RDB Act) for the recovery of Rs.1,04,05,427/- with interest against Sh. Amarjeet Singh and others (defendants).

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Bank’s case is that on 22.01.2015, it had granted a loan of

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Rs.85.00Lacs to defendant nos. 1 to 5 in the form of K.C.C. Limit for

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agricultural purpose. To secure the loan, Defendant nos. 1 to 5 had mortgaged their land (fully detailed in para No.3A of the application). Defendant no.6 stood as the guarantor vide deed of guarantee dated 22.01.2015. The loan was chargeable to interest @12% per annum with half-yearly rests. On 23.03.2022, a sum of Rs.1,04,05,427/- was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.

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On 06.06.2022, summonses were sent to the defendants by registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 10.02.2023, they were proceeded ex parte .

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In order to prove its case, the Bank has placed on record the affidavit of Mr. Munish Sharma, Manager along with the loan and security documents and marked them as Exhibit A-1 to A-21.

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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.85.00Lacs and on 23.02.2022, a sum of Rs.1,04,05,427/- was due.

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Accordingly, the application of the bank for the recovery of Rs.1,04,05,427/- (Rupees One Crore Four Lacs Five Thousand Four Hundred and Twenty Seven Only) with interest @12% per annum with half-yearly rests from 09.05.2022, 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 30.09.2026.

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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: 29.08.2026 Presiding Officer DRT-1, Chandigarh

Kotak Mahindra Bank Limited v. Amarjeet Singh

Case brief

What is this about?

What did the court decide?

Kotak Mahindra Bank Limited v. Amarjeet Singh

Case brief

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What did the court decide?

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