The Debts Recovery Tribunal allowed the bank application for recovery of Rs.44,55,794.99 with interest arising from agricultural loans granted to the defendant, who had mortgaged immovable properties and failed to repay.
Recovery of Rs.44,55,794.99 with interest; order for sale of mortgaged properties; issuance of Recovery Certificate.
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IN THE DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH
BEFORE: A S NARANG, PRESIDING OFFICER
OA No: 297/2022 Date of Institution: 05.02.2022 Date of Decision: 16.02.2023
Punjab National Bank (erstwhile Oriental Bank of Commerce) Danger Khera, District Fazilka and Arniwala Sheikh Subhan, District Fazilka, Punjab
……..Applicant
Vs.
Sh. Randeep Singh S/o Sh. Harbhajan Singh R/o VPO Kamal Wala Tehsil and District Fazilka, Punjab.
……….Defendant
Advocates
Ms. Sonal, proxy Counsel for Sh. Pankaj Beri, Counsel for the applicant bank.
Defendant – ex parte
OA for the Recovery of Rs.44,55,794.99 with interest @12.00% per annum with half yearly rests from 22.01.2022.
ORDER
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| 4. On 19.04.2022, summons was sent to the defendant by registered |
|---|
| post, which were duly served. However, defendant did not put in |
| appearance. Vide order dated 02.12.2022, defendant was proceeded_ex_ |
| parte. |
| 5. In order to prove its case, the Bank has placed on record the |
| affidavit of Mr. Rakesh Valecha, Authorized Representative along with |
| the loan and security documents and marked them as Exhibit A-1 to A- |
| 19. |
| 6. 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.29.95 lacs and on 21.01.2022, a sum of Rs.44,55,794.99 was due. |
| 7. Accordingly, the application of the bank for the recovery of |
| Rs.44,55,794.99 (Rupees Forty Four Lacs Fifty Five Thousand Seven |
| Hundred Ninety Four And Paisa Ninety Nine Only) with interest |
| @12.00% per annum with half yearly rests from 22.01.2022, till the date |
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of payment is hereby allowed with costs against defendant. Bank can recover its dues by sale of the mortgaged properties i.e. land measuring 40 Kanal being 800/3444 share of 172 Kanal 4 Marla, situated at Kamal Wala as per jamabandi of the year 2009-10 Hadbast No.180 Tehsil and District Fazilka (fully detailed in para 5(v) of the OA) and land measuring 56 Kanal 04 Marla detailed are; (i) 20 Kanal 0 Marla being 400/1147 share of 57 Kanal 07 Marla and (ii) 20 Kanal 2 Marla i.e. 402/1151 share of 57 Kanal 11 Marla and (iii) land measuring 11 Kanal 2 Marla i.e. 222/636 share of 31 Kanal 16 Marla, situated at Village Kamal Wala Tehsil and District Fazilka Hadbaast No.180 as per copy of jamabandi of the year 2009-10 (fully detailed in para 5(ix) of the OA), as well as from the personal movable and immovable property(ies) of defendant.
3 issues framed by the court
Whether the applicant bank was entitled to recover the outstanding dues of Rs.44,55,794.99 against the respondent.
Whether the mortgage properties could be directed for sale to recover the bank's dues.
Whether a recovery certificate be issued for the enforcement of the debt.
1 provisions across 1 enactments
Punjab National Bank (erstwhile Oriental Bank of Commerce)
Sh. Randeep Singh
A S Narang
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
