Debts Recovery Tribunals and Appellate Tribunals
STATE BANK OF INDIA vs M/S V.K. WHEAT AND PADDY on 5 November 2026
IN THE DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH
BEFORE: A S NARANG, PRESIDING OFFICER
TA No: 26/2022
Date of Institution: 06.10.2021
Date of Decision: 05.11.2026
SBI having its branches all over India and a branch office at Bari Brahmana, Samba.
……..Applicant
Vs.
1. M/s V.K. Wheat & Paddy, Village Dei Chak, Near Bhadrore, Tehsil and District Jammu, through its proprietor Sh. Vinoed Salgotra s/o Sh. Selija Ram, r/o Village Dhok Jagir, P.O. Shoal Tehsil Akhnoor, District Jammu.
2. Sh. Vinod Salgotra s/o Sh. Selija Ram, r/o Village Dhok Jagir, P.O. Shoal Tehsil Akhnoor, District Jammu.
3. Sh. Niranjan Singh s/o Sh. Omkar Singh, r/o Village Dei Chak, Near Bhadrore, Tehsil and District Jammu.
……….Defendants
Advocates
Mr. Manav Singal proxy counsel for Ms. Rajni Narula, Counsel for the applicant bank.
Defendants- ex parte vide order dated 04.05.2026.
TA for the Recovery of ₹29,84,123/- with interest @10.55% per annum with monthly rests from 06.10.2021.
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ORDER
1. On 06.10.2021, SBI, filed the suit for the recovery of ₹29,84,123/- with interest against M/s V.K. Wheat & Paddy and others (defendants) in the Court of Learned District Judge at Jammu. However, vide order dated 13.09.2022, Additional District Judge, (Bank Cases), Srinagar, transferred this suit to DRT-I, Chandigarh.
2. Bank’s case is that on 15.04.2014, it had granted C.C. Limit of ₹20.00Lacs to defendant No.1 through its proprietor defendant no.2 for business purpose. To secure the loan, Defendant no.3 had mortgaged his property (fully detailed in para No.11 of the application). Defendant No.3 also stood as guarantor for the C.C. Limit vide Guarantee Agreement. The C.C. Limit was renewed on 25.05.2015 at Rs.20.00Lacs. on 30.09.2016, the loan account was appraised and renewed for a period of six months. The loan was chargeable to interest @10.55% per annum with monthly rests. On 23.09.2021, a sum of ₹29,84,123/- 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/application, summonses were sent to the defendants which were duly served. However, they did not put in appearance. Vide order dated 04.05.2026, they were proceeded ex parte.
4. In order to prove its case, the Bank has placed on record the affidavit of Mr. Deepak Pandita, 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 loan of ₹20.00 Lacs and on 23.09.2021, a sum of ₹29,84,123/- was due.
6. Accordingly, the case of the bank for the recovery of ₹29,84,123/- (Rupees Twenty Nine Lacs Eighty Four Thousand One Hundred Twenty Three Only) with interest @10.55% per annum with monthly rests from 06.10.2021, till the date of payment is hereby allowed with costs. The liability of all the defendants would be joint and several. Bank can recover its dues by the sale of mortgaged property fully detailed in para No.11 of the application as well as from 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 10.12.2026.
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: 05.11.2026 Presiding Officer DRT-1, Chandigarh MANOJ KALRA