This application was allowed by the DRT. The court found that the bank's case was proved and directed the recovery of the outstanding principal and interest from the joint and several liable defendants.
Recovery of Rs.96,51,991/- with interest and costs allowed; recovery through sale of mortgaged property; recovery certificate issued.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
IN THE DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH
BEFORE: A S NARANG, PRESIDING OFFICER
OA No: 782 of 2022 Date of Institution: 17.03.2022 Date of Decision: 02.11.2023
Punjab National Bank, Gaushala Road Abohar Distt. Fazilka, Punjab.
……..Applicant
Vs.
……….Defendants
Advocates
Sh. S. K. Arora, Counsel for the applicant bank. Defendants- Ex parte
OA for the Recovery of Rs.96,51,991/- with interest @9.60% per annum with monthly rests from 15.03.2022.
ORDER
2
| 3. On 18.05.2022, summonses were sent to the defendants by registered post, which were duly served. However, defendants did not put in appearance.Vide_order dated 01.12.2022, they were proceeded_ex parte. |
|---|
| 4. In order to prove its case, the Bank has placed on record the affidavit of Mr. Kuldip Kumar, Chief Manager along with the loan and security documents and marked them as Exhibit A-1 to A-19. |
| 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.1.00 crore and on 15.03.2022, a sum of Rs.96,51,991/- was due. |
| 6. Accordingly, the application of the bank for the recovery of |
| Rs.96,51,991/- (Rupees Ninety-Six Lacs Fifty-One Thousand Nine |
| Hundred Ninety-One Only) with interest @9.60% per annum with |
| monthly rests from 15.03.2022, 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.5.7 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 |
| 04.12.2023, who is directed to distribute the sale proceeds of the |
| mortgage property 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: 02ndNovember, 2023 Presiding Officer DRT-1, Chandigarh |
1 issue framed by the court
Whether the applicant had established its case for the recovery of the outstanding loan amount.
1 provisions across 1 enactments
Punjab National Bank
Sheetal Devi
Pallavi Babbar
Rajan Babbar
Vinkar Babbar
A S Narang
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
