Debts Recovery Tribunals and Appellate Tribunals
JAMMU AND KASHMIR GRAMEEN BANK vs M/S SRI SAI AGRO COMPOSITE MILL on 3 July 2026
IN THE DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH
BEFORE: A S NARANG, PRESIDING OFFICER
TA No: 236/2024
Date of Institution: 14.08.2012
Date of Decision: 03.07.2026
Jammu & Kashmir Grameen Bank (e-Ellaquai Dehati Bank), a body corporate constituted under Regional Rural Bank Act, 1976, having its head office at Sirsyed Market, Amar Singh College Road Wazir Bagh, Srinagar, Kashmir and Area Office at 204, Prem Nagar, New Plots, Jammu.
……..Applicant
Vs.
1. M/s Sri Sai Agro Composite Mill, Balah, R.S. Pura, Jammu, through its sole proprietor Sh. Rahul Bhardwaj s/o Sh.
Rajinder Singh, r/o Village Mangowali, Tehsil R.S. Pura, District Jammu.
2. Sh. Rahul Bhardwaj s/o Sh. Rajinder Singh, r/o Village Mangowali, Tehsil R.S. Pura, District Jammu.
3. Parbh Dayal s/o Sh. Gauri Saini, r/o Village Suhagpur, Tehsil Bishnah, District Jammu.
4. Pawan Gupta since deceased now survived through his legal heir:
i)
Smt. Shoya Gupta w/o Late Sh. Pawan Gupta, r/o Ward No.7, R.S. Pura District Jammu.
5. Gian Chand s/o Late Sh. Jagat Ram, r/o Village Rangpur Mulna, Tehsil R.S. Pura, District Jammu.
……….Defendants
Advocates
Sh. Vivek Verma, Counsel for the applicant bank.
Defendants- ex parte.
TA for the Recovery of ₹76,53,136/- with interest @16.50% per annum with monthly rests from 14.08.2012.
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ORDER
1. On 14.08.2012, Ellaquai Dehati Bank, filed the suit for the recovery of ₹76,53,136/- with interest against M/s Sri Sai Agro
Composite Mill and others (defendants) in the District Court, Jammu. However, vide order dated 27.05.2023, Additional District Judge, (Bank Cases), Jammu, transferred this suit to DRT-I, Chandigarh. As per the Govt. of India notification dated 05.04.2025, erstwhile Ellaquai Dehati Bank has been amalgamated into Jammu & Kashmir Grameen Bank w.e.f. 01.05.2025. The Counsel for the Applicant Bank has stated at the Bar to substitute the name of Ellaquai Dehati Bank by Jammu & Kashmir Grameen Bank. The same is hereby changed.
2. Bank’s case is that on 17.05.2010, it had granted Term Loan of ₹10.00 Lacs and C.C. Limit of ₹60.00 Lacs to defendant No.1 through its proprietor defendant No.2 for business purpose. To secure both the loan facilities, defendant Nos.2, 3 and 5 mortgaged their property(ies) (fully detailed in para no.12 of the plaint). Defendant Nos.3 and 4 stood as guarantors. Both the loan facilities were chargeable at different rates of interest. On 31.07.2012, a sum of ₹76,53,136/- 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. However, they did not put in appearance. Vide order dated 08.02.2014, they were proceeded ex parte. After transfer of this suit, summons was sent to the legal heir of defendant no.4 which was duly served. However, she did not put in appearance. Vide order dated 04.08.2025, she was proceeded ex parte.
4. In order to prove its case, the Bank has placed on record the affidavit of Mr. Kewal Krishan Saraf, Branch Manager, 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 total loan of ₹70.00 Lacs and on 31.07.2012, a sum of ₹76,53,136/- was due.
6. Accordingly, the case of the bank for the recovery of ₹76,53,136/- (Rupees Seventy Six Lacs Fifty Three Thousand One Hundred Thirty Six Only) with interest @16.50% per annum with monthly rests from 14.08.2012, till the date of payment is hereby allowed with costs. The liability of defendant Nos.1 to 3 and 5 would be joint and several. The liability of the legal heir of defendant No.4 would be limited to the extent of the property inherited by her from Sh. Pawan Gupta. No personal claim lies against Defendant no.5 being the mortgager. Bank can recover its dues by the sale of mortgaged property(ies) fully detailed in Annexure(s) P-4 and P-15 of the application as well as from the personal movable and immovable property(ies) of the defendant no.1 to 3.
7. Pending IAs, if any, stand disposed of.
8. Recovery Certificate be issued accordingly.
9. Parties are directed to appear before Recovery Officer on 05.08.2026, 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: 03.07.2026 Presiding Officer DRT-1, Chandigarh MANOJ KALRA