Allowed

Punjab National Bank v. Sh. Dilbag Singh

DRT20 Aug 2024OA/1606/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an application by Punjab National Bank to recover Rs. 22,24,381/- with interest from Sh. Dilbag Singh, finding that the bank proved its loan advance and outstanding dues through affidavit evidence, despite the defendant's ex parte status.

What did the court decide?

Application allowed; Recovery Certificate issued; Recovery through sale of mortgaged land and personal properties permitted.

Punjab National Bank versus Sh. Dilbag Singh — Contract and Commercial Disputes | DRT (2024)

¶1

IN THE DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH

¶2

BEFORE: A S NARANG, PRESIDING OFFICER

¶3

OA No: 1606/2022 Date of Institution: 01.08.2022 Date of Decision: 20.08.2024

¶4

Punjab National Bank, a branch at Talwandi, Rai Dadu, District Amritsar.

¶5

……..Applicant

¶6

Vs.

¶7

Sh. Dilbag Singh S/o Sh. Rawel Singh, R/o Village Sarangdev, Tehsil Ajnala, District Amritsar.

¶8

……….Defendant

¶9

Advocates

¶10

Sh. Gaurav Thakur, proxy Counsel for Sh. Manish Singla, Counsel for the applicant bank.

¶11

Defendant – ex parte

¶12

OA for the Recovery of Rs.22,24,381/- with interest @10.75% per annum with half yearly rests from 01.08.2022.

¶13

ORDER

¶14

Punjab National Bank, (Bank) has filed this application under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993 (RDB Act) for the recovery of Rs.22,24,381/- with interest against Sh. Dilbag Singh (defendant).

¶15

Bank’s case is that on 18.06.2015, it had granted a KCC Limit of Rs.15.00 Lacs to defendant for agricultural purpose. To secure the loan, Defendant had mortgaged his agricultural land (fully detailed in para No.3(A) of the application). The loan was chargeable to interest @10.75% per annum with half yearly rests. On 01.08.2022, a sum of Rs.22,24,381/- was due from the defendant. Despite repeated requests, defendant did not make the repayment. Hence, this application.

¶16

¶17

On 24.08.2022, summons was sent to the defendant by registered post, which was duly served. However, defendant did not put in appearance. Vide order dated 02.05.2023, he was proceeded ex parte . 4. In order to prove its case, the Bank has placed on record the affidavit of Mr. Ramesh Kumar, Manager along with the loan and security documents and marked them as Exhibit A-1 to A-11. 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.15.00 Lacs and on 01.08.2022, a sum of Rs.22,24,381/- was due. 6. Accordingly, the application of the bank for the recovery of Rs.22,24,381/- (Rupees Twenty Two Lacs Twenty Four Thousand Three Hundred and Eighty One Only) with interest @10.75% per annum with half yearly rests from 01.08.2022, till the date of payment is hereby allowed with costs. Bank can recover its dues by the sale of mortgaged agricultural land fully detailed in para No.3(A) of the application as well as from the personal movable and immovable property(ies) of the defendant. 7. Pending IAs, if any, stand disposed of. 8. Recovery Certificate be issued accordingly. 9. Parties are directed to appear before Recovery Officer on 20.09.2024, 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 . 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: 20.08.2024 Presiding Officer DRT-1, Chandigarh Pankaj

Punjab National Bank v. Sh. Dilbag Singh

Case brief

What is this about?

What did the court decide?

Punjab National Bank v. Sh. Dilbag Singh

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

Coram

Case details

Similar cases

Punjab and Sind Bank versus Gian Singh

Bank of Baroda versus Ezhumalai

Ms Rav Smittens Opc Private Limited versus Canara Bank

Bank of Baroda versus M/S Alpine Foods

Punjab National Bank (Oriental Bank of Commerce) versus M/S Shri Durga Cycle Stores

Canara Bank versus M/S Maa Kamakhya Print Pack