Debts Recovery Tribunals and Appellate Tribunals
JAMMU AND KASHMIR BANK LIMITED vs M/S KASHIND AGRO INFRA SERVICES CENTURY PLY BUILDING on 1 July 2026
IN THE DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH
BEFORE: A S NARANG, PRESIDING OFFICER
TA No: 84/2023
Date of Institution: 06.10.2018
Date of Decision: 01.07.2026
Jammu and Kashmir Bank Limited Business Unit Rangreth, Budgam, Kashmir.
……..Applicant
Vs.
1. M/s KashInd Agro Infra Services Century Ply Building (Opposite Jamkash Vehicleads) National Highway/Bypass Hyderpora, Srinagar, Kashmir, through its partners, the defendant Nos.2 to 4.
2. Nirbhay Trehan s/o Pyare Lal Saraf, r/o 31-D/C, Green belt Park, Gandhi Nagar, Jammu.
3. Nirbhik Trehan s/o Nirbhay Trehan, r/o 31-D/C, Green belt Park, Gandhi Nagar, Jammu.
4. Muizz Khan s/o Farooq Ahmad Khan, r/o Brein Nishat, Srinagar, Kashmir, H.No.10-A, Khan Enclave Mian Road, Bhatandi, Jammu.
5. Ghulam Mohi-ud-din Wani (Dead) s/o Sona-ullah, r/o Chinad Khushalpora, Sangrama, Baramulla.
LRs of defendant No.5
a. Mrs. Sara Begum w/o Lt. Ghulam Mohi-ud-din Wani, r/o Chinad Khushalpora, Sangrama, Baramulla.
b. Mr. Mehraj-ud-din Wani s/o Lt. Ghulam Mohi-ud-din Wani, r/o Chinad Khushalpora, Sangrama, Baramulla.
c. Mr. Sharief-ud-din Wani s/o Lt. Ghulam Mohi-ud-din Wani, r/o Chinad Khushalpora, Sangrama.
d. Mr. Nadeem-u-din Wani Lt. Ghulam Mohi-ud-din Wani, r/o Chinad Khushalpora, Sangrama.
e. Afroza Begum w/o Ghulam Ahmed Sheikh d/o Lt. Ghulam Mohi-ud-din Wani, r/o Chinad Khushalpora, Sangrama, Baramulla.
f. Mrs. Firdousa Akhter w/o Khursheed Ahmed Bhat d/o Lt.
Ghulam Mohi-ud-din Wani, r/o Chinad Khushalpora, Sangrama, Baramulla.
……….Defendants
Advocates
Sh. Gaurav Thakur proxy counsel for Mr. Mayank Mathur, Counsel for the applicant bank.
Defendants- ex parte vide order dated 28.04.2025.
TA for the Recovery of ₹44,96,90,105/- with interest @14% per annum with monthly rests from 06.10.2018.
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ORDER
1. On 06.10.2018, Jammu and Kashmir Bank Limited, filed the suit for the recovery of ₹44,96,90,105/- with interest against M/s KashInd Agro Infra Services and others (defendants) in the Court of Principal District Judge, Srinagar. However, vide order dated 08.02.2023, Additional District Judge, (Bank Cases), Srinagar, transferred this suit to DRT-I, Chandigarh.
2. Defendant no.1 is a partnership firm of Defendant nos. 2 to 4. Bank’s case is that on 25.03.2013, it had granted Term Loan-I of ₹1425.25 Lacs and Bank Guarantee-I of ₹20.00 Lacs to defendant No.1 though its partners for business purpose. To secure both loan facilities, Defendant No.1 hypothecated assets and defendant Nos.2 to 4 mortgaged their properties (fully detailed in para No.5 of the application). Defendant Nos.2 to 4 stood as guarantors for both the loan facilities vide deed of guarantee dated 27.03.2013. 2A. On 04.12.2013, at the request of the defendants, bank granted Term Loan-II of ₹1400.00 Lacs and Bank Guarantee-II of ₹15.00 Lacs to defendant No.1 though its partners for business purpose. To secure both loan facilities, Defendant No.1 hypothecated assets and defendant Nos.2 to 5 mortgaged their properties and also extended charge over the property mortgaged earlier (fully detailed in para No.5 and 12 of the application). Defendant Nos.2 to 5 stood as guarantors for both the loan facilities vide deed of guarantee dated 10.12.2013 2B. Again on 09.03.2015, at the request of the defendants, bank granted an Additional Term Loan-I of ₹176.00 Lacs under Rehabilitation Scheme to defendant No.1 though its partners for business purpose. To secure the Additional Term Loan-I, Defendant No.1 hypothecated assets and defendant Nos.2 to5 extended charge over the properties mortgaged earlier (fully detailed in para No.5 and 12 of the application). Defendant Nos.2 to 5 stood as guarantors. 2C. Again on 07.12.2015, at the request of the defendants, bank granted Additional Term Loan-II of ₹400.00 Lacs to defendant No.1 though its partners for business purpose. To secure the Additional Term Loan-II, Defendant No.1 hypothecated assets and defendant Nos.2 to5 extended charge over the properties mortgaged earlier (fully detailed in para No.5 and 12 of the application). Defendant Nos.2 to 5 stood as guarantors. All the loan facilities were chargeable at different rates of interest. At the time of filing of the suit, a sum of ₹44,96,90,105/- 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 were duly served. After transfer of this suit, summonses were sent to the defendants/Legal Heirs which were duly served. However, they did not put in appearance. Vide order dated 28.04.2025, they were proceeded ex parte.
4. In order to prove its case, the Bank has placed on record the affidavit of Mr. Shoiab Ramzan Rather, Executive 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 loans under various schemes and at the time of filing of the application/suit, a sum of ₹44,96,90,105/- was due.
6. Accordingly, the case of the bank for the recovery of ₹44,96,90,105/- (Rupees Forty Four Crores Ninety Six Lacs Ninety Thousand One Hundred Five Only) with interest @14% per annum with monthly rests from 06.10.2018, till the date of payment is hereby allowed with costs. The liability of defendant nos. 1 to 4 would be joint and several for the whole decretal amount. The liability of Legal Heirs of Defendant no.5 would be limited to the extent of property inherited by them Ghulam Mohi-ud-din Wani. Bank can recover its dues by the sale of mortgaged lands/properties fully detailed in para Nos. 5, 12, 17 and 24 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 03.08.2026, 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: 01.07.2026 Presiding Officer DRT-1, Chandigarh MANOJ KALRA