KULWANT SINGH vs KOTAK MAHINDRA BANK LIMITED on 12 November 2026

1. 1. In the present appeal the challenge is to the order dated 12.02.2026 passed by DRT-III, Chandigarh. The respondent Kotak Mahindra Bank Limited filed O.A. bearing no.249/2026 titled as **Kotak Mahindra Bank Limited V. Kulwant Singh & another** which is stated to be pending before DRT-III, Chandigarh. DRT vide the impugned order dated 12.02.2026 has ordered for seizure of the appellant's vehicle having registration no.PB02EP9848. Thereafter, vehicle was accordingly seized by the respondent.

2. 2. Sh. Rahul Garg, Advocate for the respondent on being instructed by Sh. Jatin, Branch Manager stated that as on date a sum of Rs.11 lacs is outstanding against the appellants and if the appellants are ready to deposit the said amount, the subject vehicle can be released to the appellants but with the condition that the appellants shall pay EMIs regularly in accordance with the original payment schedule.

3. 3. Sh. Karan Bhardwaj, Advocate and the appellant no.1 who is present in person stated that the wife of the appellant no.1 is a cancer patient and the appellants can deposit a sum of Rs.7 lacs with the respondent within three days from today and the remaining 4 lacs can be paid within a span of two months from the date of deposit of Rs.7 lacs. He, however, stated that after deposit of Rs.7 lacs the subject vehicle be released and the appellants will also make payment of EMIs regularly and in case of default the subject vehicle can be seized by the respondent. The counsel for the appellants further stated that regular EMIs shall be paid in addition to the settled amount, if any.

4. In response to the submission made by Sh. Karan Bhardwaj, Advocate for the appellants, Sh. Rahul Garg, Advocate for the respondent stated that the appellants be directed to deposit Rs.8 lacs immediately with the respondent for the release of the subject vehicle and the balance Rs.3 lacs can be permitted to be deposited within a span of two months besides payment of regular EMIs.

5. In view of the submissions made by the respective counsels for the parties on instruction, the following directions are issued:

- A. **The appellants shall pay to the respondent financial institution the outstanding dues of Rs.11 lacs, out of which Rs.7 lacs shall be paid within a week from today.**

- B. **Upon receipt of the above Rs.7 lacs, the respondent shall release the subject vehicle immediately without demanding any further amount.**

- C. **The appellants are also permitted to pay the balance outstanding dues of Rs.4 lacs in two equal monthly instalments of Rs.2 lacs each. The payment of the first instalment will be made on or before 15.12.2026 and the second instalment, on or before 15.01.2027.**

- D. **It is made clear that in case of single default on the part of the appellant in paying the amounts as per the above schedule, the respondent shall be at liberty to seize the subject vehicle immediately.**

- E. **It is also directed that in addition to the above, the appellant shall continue to make regular payment of EMIs commencing from November 2026 as per the original payment schedule and in case of default in the payment of regular EMIs, the respondent shall be at liberty to proceed in accordance with law.**

- F. **The appellants are also directed to produce the subject vehicle before the responsible officer of the bank two times in a calendar month so that in case of default on the part of the appellants in payment of the outstanding amount and further future EMIs as per the above direction, the respondent can take possession of the subject vehicle immediately without further notice.**

G. It is also agreed between the parties that after the entire outstanding dues of Rs.11 lacs are paid, the O.A. and the S.A. filed by the contesting parties which are stated to be pending before DRT shall be withdrawn by them.

6. With the above directions, the present appeal stands disposed of along with pending applications, if any.

7. Copy of this order be given *dasti* to both the parties for information and compliance.

Sd- ----- (Dr. Justice Sudhir Kumar Jain) Chairperson

-pk\$