Allowed

Bank of India v. Sh. Jang Bahadar Singh

DRT9 Jan 2023OA/18/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the applicant bank's application for recovery of approximately Rs.96 lacs with interest. The court found the bank had proven its case regarding an agricultural loan. An ex parte order was passed due to non-appearance of respondents. The liability was declared joint and several.

What did the court decide?

Allowed recovery of Rs.96,06,693/- with interest @11.90% per annum from 13.12.2021. Directed Recovery Officer to sell mortgaged land and distribute proceeds.

Bank of India versus Sh. Jang Bahadar Singh — Contract and Commercial Disputes | DRT (2023)

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IN THE DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH

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BEFORE: A S NARANG, PRESIDING OFFICER

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OA No: 18/2022 Date of Institution: 30.12.2021 Date of Decision: 09.01.2023

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Bank of India, Branch Office amongst other places, at Sutlej Market Branch, Empire Estate, 14-Police Line, Jalandhar (Punjab).

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……..Applicant

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Vs.

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Sh. Jang Bahadar Singh S/o Sh. Lachhman Singh, Village Bhakhriana, Tehsil Phagwara, District Kapurthala (Punjab) – 144401.

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Sh. Harvinder Singh S/o Sh. Lachhman Singh, Village Bhakhriana, Tehsil Phagwara, District Kapurthala (Punjab) – 144401.

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……….Defendants

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Advocates

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Sh. Anil Malhotra, proxy Counsel for Ms. Meena Malhotra Counsel for the applicant bank. None for defendants.

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OA for the Recovery of Rs.96,06,693/- with interest @11.90% per annum with half yearly rests from 13.12.2021.

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ORDER

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Bank of India, (Bank) has filed this application under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993 (RDB Act) for the recovery of Rs.96,06,693/- with interest against Sh. Jang Bahadar Singh and another (defendants).

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Bank’s case is that on 18.01.2014, it had granted a KCC Limit of Rs.60,00,000/- to defendant No.1 for agricultural purpose. To secure the loan, Defendant No.1 had mortgaged his agricultural land (fully detailed in para No.5.3 of the application). Defendant No.2 stood guarantor. The loan was chargeable to interest @11.90% per annum with half yearly

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rests. On 13.12.2021, a sum of Rs.96,06,693/- was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.

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On 15.03.2022, summonses were sent to the defendants by registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 05.09.2022, they were proceeded ex parte . 4. In order to prove its case, the Bank has placed on record the affidavit of Mr. Anil Kumar Gera, Chief Manager along with the loan and security documents and marked them as Exhibit A-1 to A-20. 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.60,00,000/- and on 13.12.2021, a sum of Rs.96,06,693/- was due. 6. Accordingly, the application of the bank for the recovery of Rs.96,06,693/- (Rupees Ninety Six Lacs Six Thousand Six Hundred and Ninety Three Only) with interest @11.90% per annum with half yearly rests from 13.12.2021, 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 land fully detailed in para No.5.3 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 02.02.2023 , who is directed to distribute the sale proceeds of the mortgage land and standing crops as per the provisions of Section 19(20AB) of the Act .

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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: 09.01.2023 Presiding Officer DRT-1, Chandigarh Pankaj

Bank of India v. Sh. Jang Bahadar Singh

Case brief

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Bank of India v. Sh. Jang Bahadar Singh

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