The Debts Recovery Tribunal allowed an application filed by Punjab National Bank for recovery of Rs. 67,09,584.10p with interest against two defendants, who did not appear after receiving summonses, drawing a recovery certificate.
Recovery of Rs. 67,09,584.10p with interest directed; recovery certificate issued; joint and several liability imposed.
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IN THE DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH
BEFORE: A S NARANG, PRESIDING OFFICER
OA No: 84/2022 Date of Institution: 11.01.2022 Date of Decision: 28.07.2023
Punjab National Bank, one of its branch office at Lambra, District Jalandhar, Punjab.
……..Applicant Vs.
……….Defendants
Advocates Ms. Shivya Sehgal, Counsel for the applicant bank. Defendant – ex parte OA for the Recovery of Rs.67,09,584.10p with interest @10.35% per annum with half yearly rests from 01.01.2022. ORDER 1. Punjab National Bank, (Applicant Bank) has filed this application under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993 (RDB Act) for the recovery of Rs.67,09,584.10p with interest against Sh. Tejinder Singh and another (defendants). 2. Bank’s case is that on 02.11.2012, it had granted a loan of Rs.45.00 Lacs to defendant No.1 in the form of OGC Limit for agricultural purpose. Defendant No.2 had stood guarantor. To secure the loan, Defendant No.1 had mortgaged his agricultural land measuring 36K – 0M situated at Village Channanpur, H.B.No.254, Tehsil and District Jalandhar, (fully detailed in para No.5.10 of the application). The loan was chargeable to interest @10.35% per annum with half yearly rests. On 31.12.2021, a sum of Rs.67,09,584.10p was due from the
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defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application. 3. On 09.03.2022, summonses were sent to the defendants by registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 05.08.2022, they were proceeded ex parte .
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mortgage land and standing crops as per the provisions of Section 19(20AB) of the Act .
1 issue framed by the court
Whether the Debt Recovery Tribunal lacked jurisdiction to admit an application for recovery of a loan granted under the RDB Act, 1993 in the absence of reply by the defendants.
2 provisions across 1 enactments
Punjab National Bank
Tejinder Singh
Sukhwinder Singh
A S Narang
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
