Allowed

Indian Bank v. Smt. Anita Rani and Another

DRT12 Aug 2026OA/948/2025

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an Original Application filed by Indian Bank against two loan defaulters for recovery of Rs. 41,37,516. The court held the bank proved its case via documentary evidence. It directed recovery of the principal, costs, and fixed simple interest at 8% p.a. via mortgage sale or attachment of assets.

What did the court decide?

Recovery of Rs. 41,37,516 plus costs and simple interest at 8% p.a. to be maintained from the date of filing of the OA till realization.

Indian Bank versus Smt. Anita Rani and Another — Cheque Dishonour | DRT (2026)

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DEBTS RECOVERY TRIBUNAL-III, CHANDIGARH

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ORIGINAL APPLICATION NO. 948/2025

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PRESIDED OVER BY MRIDULESH KUMAR SINGH

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DATE OF INSTITUTION: 23.07.2025

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DATE OF DECISION: 12.08.2026

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Indian Bank (erstwhile Allahabad Bank), a body corporate, constituted under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970, having its Corporate Office at PB No. 5555, 254-260, Avvai Shanmugam Salai, Royapettah, Chennai and its branches throughout India and amongst other branches one of its Branch Office at Dugri Road, Ludhiana through its constituted attorney/authorized officer Sh. Rajesh Kumar, Branch Manager, Indian Bank, Dugri Road, Ludhiana and who is also the principal officer of the Plaintiff/Applicant Bank.

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……..Applicant

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Versus

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Smt. Anita Rani w/o Sh. Kartar Singh r/o House No. 1036, Street No. 1, Manjit Nagar, Near Diesel Shed, Ludhiana-141002. 2^nd Address – H. No. B-XXI-6027, Street No. 6, New Shimlapuri, Daba Road, Gill Road, Tehsil & Distt. Ludhiana, Punjab-141003. 3^rd Address – House No. 210, Street No. 4, Kishan Pura, Jalandhar.

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Sh. Sourav Kumar s/o Sh. Kartar Singh r/o House No. 1036, Street No. 1, Manjit Nagar, Near Diesel Shed, Ludhiana-141002. 2^nd Address – H. No. B-XXI-6027, Street No. 6, New Shimlapuri, Daba Road, Gill Road, Tehsil & Distt. Ludhiana, Punjab-141003. 3^rd Address – M/s Kamal Enterprises, Street No. 4, Gandhi Nagar, Ludhiana.

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…….Defendants

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Advocates:

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Argued by Sh. Varun Verma, Advocate for Applicant.

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None for Defendants (already ex-parte vide order dated 10.08.2026)

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2 OA/948/2025 INDIAN BANK VS. SMT. ANITA RANI AND ANOTHER

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FINAL ORDER

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Present Original Application was instituted by the applicant under Section 19 of the Recovery of Debts and Bankruptcy Act 1993, against the defendants for recovery of Rs.41,37,516.00 (Rupees Forty One Lac Thirty Seven Thousand Five Hundred Sixteen Only). The Original Application has been filed through Sh. Rajesh Kumar, Branch Manager, of the Applicant, who is competent to institute the Original Application vide Power of Attorney of Sh. Vikram Singh, Chief Manager, Indian Bank, which is Annexure A2 to this OA; Letter of Authority favouring Sh. Rajesh Kumar, Branch Manager, which is Annexure A3 to this OA.

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The brief facts of the OA are that the defendants approached the applicant for grant of Housing Loan of Rs.30.00 lacs vide Loan Application dated 18.12.2018, which is Annexure A4 to this OA. Thereafter, the defendants again approached the applicant for rescheduling of Housing Loan of Rs.30.00 lacs vide Application for Rescheduling dated 28.05.2021, which is Annexure A11 to this OA. 3. The applicant sanctioned the Housing Loan of Rs.30.00 lacs vide Sanction Letter dated 23.01.2018, which is Annexure A5 to this OA and terms and conditions were duly accepted by the defendants.

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Thereafter, the applicant reschedule the Housing Loan of Rs.30.00 lacs as per request vide Sanction Letter for Rescheduling, which is Annexure A12 to this OA.

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Defendant no. 1 mortgaged her property ie. Residential Plot measuring 100 SqYds, situated at Village Gill-1, Hadbast No. 263, abadi New Shimlapuri, Tehsil and District Ludhiana, vide deposit of Title Deed bearing Vasika No. 2018-19/103/1/6722 dated 07.02.2019 along with translation from Punjabi to English, which is Annexure A8 to this OA; Documents executed: Notification of Amalgamation of Allahabad Bank into Indian Bank, which is Annexure A1 to this OA; Acknowledgement of Sanction dated 31.12.2018, which is Annexure A6 to this OA; D.P. Note dated 24.01.2019, which is Annexure A7 to this OA; Letter of Mortgagor confirming Deposit of Title Deed dated 08.02.2019, which is Annexure A9 to this OA; Declaration by the Borrower, which is Annexure A10 to this OA; Acknowledgement of Sanction Letter dated 28.05.2021, which is Annexure A13 to this OA; Letter of

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3 OA/948/2025 INDIAN BANK VS. SMT. ANITA RANI AND ANOTHER

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Acknowledgement of Debt dated 17.05.2023, which is Annexure A14 to this OA; Certified Statement of Account, which is Annexure A15 to this OA. 5. The loan account became irregular and was classified as NPA and after adjusting debit and credit entries in the loan account, there was a debit of Rs.41,37,516.00 (Rupees Forty One Lac Thirty Seven Thousand Five Hundred Sixteen Only), which is recoverable and the defendants were served recall notices but they did not repay the outstanding amount, therefore, the applicant requested to accept the application and to issue Recovery Certificate accordingly.

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The defendants were served summons to appear before this Tribunal but no one appeared on behalf of defendants and they were proceeded ex-parte vide order dated 10.08.2026. 7. In support of the OA, affidavit of Sh. Rajesh Kumar, Branch Manager , Indian B ank, has been filed. 8. Heard arguments and perused record. 9. It was argued by learned counsel that in view of the documentary evidence brought on record which had gone unrebutted, the applicant had proved its case. From the perusal of all the Annexures A1 to A15 to this OA, it is proved that the defendants approached the applicant for availing of the loan facility, which was granted to them. Defendants had executed all the relevant documents in favour of the bank. The defendants failed to pay back the loan as per terms and conditions of the agreement between the parties. Subsequently, account of the defendants was classified as NPA. From the documentary evidence brought on record, it is proved that applicant is entitled to recover a sum of Rs.41,37,516.00 (Rupees Forty One Lac Thirty Seven Thousand Five Hundred Sixteen Only), along with interest from the defendants, jointly and severally, from the date of filing of the present Original Application till realization of the amount. 10. In so far as pendente lite and future rate of interest is concerned, the applicant in relief clause has claimed interest @9.20% p.a. plus 2.00% p.a. penal interest with half yearly rests from 19.07.2025 till the realization.

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OA/948/2025 INDIAN BANK VS. SMT. ANITA RANI AND ANOTHER

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The Tribunal is of the considered opinion that sometimes in appropriate cases the prerogative of mercy is the brightest jewel in the crown of the Judge. Keeping in view the facts and circumstances of the instant case including nature of the mortgaged property, undertaking of the defendants, quantum of loan and prevalent market rates of interest which have gone drastically downhill in yester years, while exercising the discretion vested in this Tribunal, this Tribunal deems it just and appropriate to grant simple interest @08.00% p.a. in the loan account from the date of filing of the OA till realization of the amount, ordered vide this final order. It is ordered accordingly.

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In the result, the application is allowed declaring that the defendants are liable to pay to the applicant a total sum of Rs.41,37,516.00 (Rupees Forty One Lac Thirty Seven Thousand Five Hundred Sixteen Only), jointly and severally, with costs, current and future simple interest @08.00%p.a. in the loan account from the date of filing of OA till the date of realization of the amount. Accordingly, the applicant shall be entitled to recover aforesaid amount from the sale of mortgaged property of the defendant no.1 in execution proceedings if not sold earlier under the provisions of the SARFAESI Act, 2002. If the dues of the applicant still remain unsatisfied, it shall be entitled to recover the same by attachment and sale of personal assets of the defendants. The applicant is at liberty to enforce the claim through due process of law.

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12. Any other application pending stands disposed of.

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Issue Recovery Certificate accordingly.

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Parties to appear before Learned Recovery Officer of this Tribunal

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on 28.08.2026

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Copy of this order be given dasti to the applicant and be sent to defendants through registered/speed post and this order be also uploaded on the official website of this Tribunal and record be consigned. Pronounced by me in the open Tribunal .

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Dated: 12.08.2026.

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(MRIDULESH KUMAR SINGH)

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Presiding Officer,

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DRT-III, Chandigarh

Indian Bank v. Smt. Anita Rani and Another

Case brief

What is this about?

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Indian Bank v. Smt. Anita Rani and Another

Case brief

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