Debts Recovery Tribunals and Appellate Tribunals
BANK OF BARODA vs SH. MUQSOOD AHAMD SHAH on 3 July 2026
IN THE DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH
BEFORE: A S NARANG, PRESIDING OFFICER
TA No: 262/2023
Date of Institution: 28.10.2020
Date of Decision: 03.07.2026
Bank of Baroda (erstwhile Vijaya Bank), Branch office at the Court Road, Amira Kadal, Srinagar, Kashmir.
...Applicant
Vs.
1.
Sh. Muqsood Ahamd Shah S/o Sh. Mehraj udin Shah R/o Wantapora, Rajori Kadal, Srinagar, Kashmir.
2.
Sh. Mehraj udin Shah S/o Late Sh. Ali Mohammad Shah R/o Tunkipora, Near Tehsil Office, Kashmir.
...Defendants
Advocates
Mr. Sumit Batra, Counsel for the Applicant Bank.
Mr. Shivamdeep Dwivedi, Counsel for defendants.
TA for the Recovery of Rs.25,67,836/- with interest @12.50% per annum with monthly rests from 28.10.2020.
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ORDER
1. Bank of Baroda filed the suit for the recovery of Rs.25,67,836/- with interest against Sh. Muqsood Ahamd Shah and another (defendants) in the Court of Principal District Judge, Srinagar, Kashmir. However, vide order dated 28.01.2023, this suit was transferred by the Court of Additional District Judge, (Bank Cases), Srinagar, to DRT-1, Chandigarh.
2. Bank’s case is that on 16.04.2004, it had granted a Term Loan of Rs.4.00 lacs to defendant No.1 for business purpose. Defendant No. 2 stood as the guarantor for the said loan. To secure the loan, Defendant No.1 had hypothecated the goods in trade lying in godown, shop or in transit (fully detailed in Annexure P-5). The loan was chargeable to interest @12.50% per annum with monthly rests. On 31.07.2020, a sum of Rs.25,67,836/- was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this suit.
3. On 08.05.2023, this Tribunal sent summonses to the defendants by registered post. On 15.01.2025, the defendants were summoned for the purpose of admission and denial. The defendant No.1 perused the documents and raised the objections that annexure P1 GPA is not in original; he denied the signatures on annexure P10 to P12; admitted signatures on the remaining documents. On 10.12.2025, the defendants were summoned for the admission and denial for the exhibit P1 and admitted it.
4. In order to prove its case, the Bank has placed on record the affidavit of Mr. Prashant B Vahulraje, the authorized officer along with the loan and original 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 Rs.4.00 lacs and on 31.07.2020, a sum of Rs.25,67,836/- was due.
6. Accordingly, the application of the bank for the recovery of Rs.25,67,836/- (Rupees Twenty-Five Lacs Sixty-Seven Thousand Eight Hundred and Thirty-Six Only) with interest @12.50% per annum with monthly rests from 28.10.2020, till the date of payment is hereby allowed with costs. The liability of all the defendants would be joint and several. Defendant No.1 had hypothecated the goods in trade lying in godown, shop or in transit (fully detailed in Annexure P-5). as well as from the personal movable and immovable property(ies) of the defendant.
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 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 HARSH