Debts Recovery Tribunals and Appellate Tribunals
JAMMU AND KASHMIR BANK LIMITED vs M/S KHAZIN RAFI on 6 August 2026
IN THE DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH
BEFORE: A S NARANG, PRESIDING OFFICER
TA No: 64/2023
Date of Institution: 29.09.2021
Date of Decision: 06.08.2026
Jammu and Kashmir Bank Limited Business Unit at Bagaat Barzulla, Srinagar.
……..Applicant
Vs.
1. M/s Khazin Rafi having business place at Parraypora, Srinagar through its sole proprietor namely Khazin Rafi d/o Mohammad Rafi Shah, r/o H.No.1, Lane No.4, Ibrahim colony Parraypora, Srinagar.
2. Khazin Rafi d/o Mohammad Rafi Shah, r/o H.No.1, Lane No.4, Ibrahim colony Parraypora, Srinagar.
……….Defendants
Advocates
Sh. R.K. Jindal through VC, Counsel for the applicant bank.
Defendants- ex parte vide order dated 25.04.2025.
TA for the Recovery of ₹36,72,344.80p with interest @15.45% per annum with monthly rests from 29.09.2021.
ORDER
1. On 29.09.2021, Jammu and Kashmir Bank Limited, filed the suit for the recovery of ₹36,72,344.80p with interest against M/S Khazin Rafi and another (defendants) in the Court of Principal District Judge at Srinagar. However, vide order dated 01.02.2023, Additional District Judge, (Bank Cases), Srinagar, transferred this suit to DRT-I, Chandigarh.
2. Bank’s case is that on 29.05.2019, it had granted a loan of ₹25.00 Lacs to defendant No.1 through its proprietor defendant no.2 in the form of Overdraft Limit for 45 days for business purpose. The loan was
Page 1 of 2
chargeable to interest @15.45% per annum with monthly rests. On 31.08.2021, a sum of ₹36,72,344.80p 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 which were duly served. However, they did not put in appearance. Vide order dated 25.04.2025, they were proceeded ex parte.
4. In order to prove its case, the Bank has placed on record the affidavit of Mr. Jaweed Ahmed Shera, 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 loan of ₹25.00 Lacs and on 31.08.2021, a sum of ₹36,72,344.80p was due.
6. Accordingly, the case of the bank for the recovery of ₹36,72,344.80p (Rupees Thirty Six Lacs Seventy Two Thousand Three Hundred Forty Four and Paise Eighty Only) with interest @15.45% per annum with monthly rests from 29.09.2021, till the date of payment is hereby allowed with costs. The liability of both the defendants would be joint and several. Bank can recover its dues by the sale of the personal movable and immovable property(ies) of the defendants.
7. Pending IAs, if any, stand disposed of.
8. Recovery Certificate be issued accordingly.
9. Parties are directed to appear before Recovery Officer on 07.09.2026, who is directed to distribute the sale proceeds 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: 06.08.2026 Presiding Officer DRT-1, Chandigarh MANOJ KALRA
Page 2 of 2
Loading citations and judicial treatment…