Debts Recovery Tribunals and Appellate Tribunals
JAMMU AND KASHMIR BANK LIMITED vs M/S BUNTY GENERAL STORE on 17 June 2026
IN THE DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH
BEFORE: A S NARANG, PRESIDING OFFICER
TA No: 68/2024
Date of Institution: 03.12.2014
Date of Decision: 17.06.2026
Jammu and Kashmir Bank Limited having its branch office at T.P.
Shastri Nagar, Jammu.
……..Applicant
Vs.
1. M/s Bunty General Store, Gandhi Nagar, Jammu, a partnership firm through its partner Smt. Usha Arora w/o Late Sh. Prem Sagar Arora, r/o H.No.497-A, Gandhi Nagar, Jammu.
2. Usha Arora w/o Late Sh. Prem Sagar Arora, r/o H.No.497-A, Gandhi Nagar, Jammu.
3. Sumit Arora s/o Late Sh. Prem Sagar Arora, r/o H.No.497-A, Gandhi Nagar, Jammu.
4. Ajay Kumar s/o Sh. Sardari Lal, r/o 107, Ward No.6, Birpur, Bari Brahmana, Jammu.
5. Smt. Kavita Arora w/o Sh. Rakesh Arora, r/o H.No.59, Link Road, Jammu.
6. Smt. Vanita Arora w/o Sh. Rakesh Vohra, r/o H.No.105, Apna Vihar, Near Kunjwani, Jammu.
……….Defendants
Advocates
Mr. Chirag Bhagat proxy counsel for Sh. Sumit Batra, Counsel for the applicant bank.
Defendants-ex parte vide order dated 23.01.2026.
TA for the Recovery of ₹23,06,780.57p with interest @11.75% per annum with monthly rests from 03.12.2014.
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ORDER
1. On 03.12.2014, Jammu and Kashmir Bank Limited, filed the suit for the recovery of ₹23,06,780.57p with interest against M/s Bunty General Store and others (defendants) in the Civil Court Jammu. However, vide order dated 14.02.2023, this suit was transferred by the
Court of Additional District Judge, (Bank Cases), Srinagar, to DRT-I, Chandigarh.
2. Bank’s case is that on 24.09.2009, it had granted a loan of ₹20.00 Lacs to defendant No.1 through its partners, defendant nos.2 and 3 in the form of C.C Limit for business purpose. To secure the loan, Defendant No.4 had mortgaged his property (fully detailed in para No.3 of the application). Defendant No.4 and Sh. Prem Sagar Arora (since deceased now survived through his legal heirs i.e. defendant Nos.2, 3, 5, 6) stood as guarantors vide Deed of Guarantee dated 24.09.2009. The loan was chargeable to interest @11.75% per annum with monthly rests. At the time of filing of the application, a sum of ₹23,06,780.57p was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, the suit.
3. The Civil Court sent summonses to the defendants by registered post, which was duly served. After transfer, summonses were sent to the defendants. However, they did not put in appearance and were proceeded ex parte.
4. In order to prove its case, the Bank has placed on record the affidavit of Mr. Mohd Hanif Kirmani, Executive Manager Law, along with the original loan and security documents.
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 ₹20.00 Lacs and at the time of filing of the application, a sum of ₹23,06,780.57p was due.
6. Accordingly, the case of the bank for the recovery of ₹23,06,780.57p (Rupees Twenty Three Lacs Six Thousand Seven Hundred Eighty and Paise Fifty Seven Only) with interest @11.75% per annum with monthly rests from 03.12.2014, till the date of payment is hereby allowed with costs. The laibltiy of Defendant nos. 1 to 4 is joint and several. The liability of Defendant Nos.2, 3, 5, 6 would be limited to the extent of the property(ies) inherited by them from Sh. Prem Sagar Arora being the legal heirs of Prem Sagar Arora. Defendant Nos. 2 and 3 would be liable in dual capacity - being the partners of defendant No.1 as well being the Legal Heirs of Prem Sagar Arora. Bank can recover its dues by the sale of mortgaged property fully detailed in para No.3 of the application as well as from the personal movable and immovable property(ies) of the defendant nos. 1 to 4.
7. Pending IAs, if any, stand disposed of.
8. Recovery Certificate be issued accordingly.
9. Parties are directed to appear before Recovery Officer on 20.07.2026, who is directed to distribute the sale proceeds of the mortgaged property and hypothecated assets 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: 17.06.2026 Presiding Officer DRT-1, Chandigarh MANOJ KALRA