Allowed

Kotak Mahindra Bank Limited v. Murari Lalaggarwal

DRT22 May 2026TA/1183/2023

Case brief

AI extract

What is this about?

Debts Recovery Tribunal, Delhi allowed the bank's original application for recovery of dues of Rs.29,97,113.40 with interest and costs against two defendants proceeding ex parte, directing payment within 30 days and recovery from assets on failure to comply.

What did the court decide?

Defendants directed to pay jointly and severally Rs.29,97,113.40 with interest @9.45% p.a. and costs within 30 days; failure to pay permits recovery from sale of personal movable and immovable assets.

Kotak Mahindra Bank Limited versus Murari Lalaggarwal — Execution and Attachment | DRT (2026)

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Before SUSHIL KUMAR RASTOGI, Presiding Officer Debts Recovery Tribunal-Il, Delhi

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TA No.1183 OF 2023

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KOTAK MAHINDRA BANK LIMITED VS MURARI LAL AGGARWAL & ORS

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Reserued on z 23.04.2026

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Pronounced on t 22.05.2026

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Kotak Mahindra Bank Limited Vs.

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-Applicant bank

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Murari Lal Aggarwal

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Surender Kumar Gupta

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Defendants

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Present: Shri. Anurag Singh,^proxy counsel^appears for applicant bank. Defendants are exparte, since, 03.1L.2025.

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FINAL ORDER

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This original application has been^{filed by the} applicant bank, on 18.11.2018^{throughMr. Kumar} Jyoti, Authorized Representative^{of the applicant bank,} under Section 19 of the^{RDB Act, 1993 against the} defendants for recovery of a^{sum of Rs.29} ,97,L13.40 together with cost, charges and^{pendentelliteand} future interest @18o/o from^{date of filing of this O.A. till} the realization in full.

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The brief facts of the^{case are that at the request} of the defendant no.l being^{the borrowerand} defendant no.2 being^{the guarantor, the applicant bank} sanctioned a Commercial^{Vehicle Loan vide various} agreements of Rs.33,20,000/-^{for commercial} vehicle/construction equipment^{financed i.€., (i)} 1582999- Commercial^{Vehicle Heavy Commercial} ---{ 9':

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TA NO. I 183 of 2023

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Vehicle TATA Motors Ltd. TATA 3518^Chassis No.MBlTLKFD7HPEY3866 Engine^{No.HEPZLL2L28} Registration No.NL01p,AL226.^{(ii).1582995-} Commercial Vehicle^{Heavy CommercialVehicle TATA} Motors Ltd TATA 3518^{Chassis No.} MB1TLKFD7HPEY3964^{Engine No. HEPZLL2288} Registration^No. N101AA1225.

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It is further^{submitted that the defendants} enjoyed and utilized^{the Loan facilities,but failed to} maintain the financial^{discipline and failed to repay the} due amounts. The^{applicant bank requested the} defendants to^{regularize the loan accountby visits and} letters, but there^{was no response from the} defendants.^{Therefore,the applicantbank serued a} recall notice dated^{17.08.2018to the defendants but} faited to recover^{the same. Thus, the present o.A.rI.A.} is^preferred by^{the applicant bank to recover its dues.}

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on notice^{by this Tribunal, the defendants failed} to put appearance^{at all, despite seruice. Accordingly,} the defendants^{were proceededagainstexparte on} 03.1L.2025.

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5.Theapplicantbankhasfileddocumentsas Annexure A-1^{to Annexure A-5 along with the oA,} which have^{gone unchallengedand un-rebutted.} Hence, the case^{of the applicantbank standsfully} established against^{the defendants with respect to} nonpayment of^{outstanding amount'}

Sr\

TANO. ll83 of 2023

After perusing the records, this Tribunal is of the view that the applient bank has^proved its case beyond reasonable doubts. The documents filed by the applicant bank not rebutted by the defendants by^not placing any evidence and there is no question of disbelieving the documents filed by the applicant bank based upon the written/printed documents.

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In the light of the above discussions, the^{present T.A.} deserves to be allowed.

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ORDER

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I hereby allow this T.A. of the applicant^{bank and} direct the defendant nos.1 and 2 to^{pay jointly and} severally to the applicant within 30 days from^today,a sum of Rs.29,97,113.40 along with^{cost, expenses and} interest @ 9.45olo from the date of filing of this^O.A. which has become T.A till the date of^realization.

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In case of failure to deposit the above^amount within the stipulated^period, the same^{shall be} recovered from the sale of^{personal movableand} immovable assets of the defendant^{nos.1 and 2.}

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Remvery Certificate be^{issuedforthwith andbe} sent to Recovery Officer,^{Debts Recovery Tribunal-Il,} -.---r.Delhi. E)-'/

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TA NO. ll83 of 2023 4

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The registry of this Tribunal^{is hereby directed} to issue free copy of the order and^{send the same to} both the^parties.

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Parties are directed to appear^{before the Ld.} Recovery Officer, DRT-II,^{Delhi on 22.07.2026.Pending} IAs, if dfly, stand disposed of.

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File be consigned to^records.

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Date :22.05.2026

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)> (susHIL Kuua{ ilnbrocr) PRESIDING OFFICER DRT-II, Delhi

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This^judgement has been^signed, dated and pronounced in open court.

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Date :22.05.2026

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sA -nAfrocr) (susHrL KUMAR PRESIDING OFFICER DRT-II, Delhi

Kotak Mahindra Bank Limited v. Murari Lalaggarwal

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Kotak Mahindra Bank Limited v. Murari Lalaggarwal

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