Allowed

Punjab Gramin Bank v. Sh Tejinder Singh

DRT23 Aug 2024OA/194/2022

Case brief

AI extract

What is this about?

The Debt Recovery Tribunal allowed the bank's application for recovery of Rs.33,07,788/-. Finding evidence proved a loan default of Rs.33 Lacs with interest, the court ordered a recovery certificate, joint and several liability, and distribution of sale proceeds from mortgaged agricultural land.

What did the court decide?

Recovery of Rs.33,07,788/- with interest at 12.50% p.a. allowed; Recovery Certificate issued; Sale proceeds of mortgaged land to be distributed.

Punjab Gramin Bank versus Sh Tejinder Singh — Company and Corporate | DRT (2024)

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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: 194/2022 Date of Institution: 19.01.2022 Date of Decision: 23.08.2024

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Punjab Gramin Bank, branch office amongst others at Tahliwala Bodla, Tehsil and District Fazilka, Punjab.

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……..Applicant

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Vs.

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Sh. Tejinder Singh S/o Sh. Lakhwinder Singh, R/o Village Sammewali, Tehsil and District Sri Muktsar Sahib, Punjab.

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Sh. Davinder Singh S/o Sh. Lakhwinder Singh, R/o Village Sammewali, Tehsil and District Sri Muktsar Sahib, Punjab.

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……….Defendants

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Advocates

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Sh. Pankaj Beri, Counsel for the applicant bank. Defendants – ex parte

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OA for the Recovery of Rs.33,07,788/- with interest @12.50% per annum with yearly rests from 19.01.2022.

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ORDER

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Punjab Gramin 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.33,07,788/- with interest against Sh. Tejinder Singh and another (defendants).

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Bank’s case is that in the year 2014, it had granted a KCC Limit of Rs.19.60 Lacs and Debt Swap of Rs.1.00 Lacs to defendant No.1 for agricultural purpose. Defendant No.2 had stood guarantor. To secure the loan, Defendant No.1 had mortgaged his agricultural land measuring 24Kanal – 00Marla being 480/8144 being share of land measuring 407Kanal – 04Marla comprised in Khewat No.31 for the jamabandi of the year 2008-2009 situated in the area of Village Jand Wala Bheme Shah, Tehsil and District Fazilka, Hadbast No.203 (fully detailed in para

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No.3(A) of the application). The loan was chargeable to interest @12.50% per annum with yearly rests. On 19.01.2022, a sum of Rs.33,07,788/- was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.

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On 08.03.2022, summonses were sent to the defendants by registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 20.03.2023, they were proceeded ex parte .

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In order to prove its case, the Bank has placed on record the affidavit of Mr. Gurdev Singh, Branch Manager along with the loan and security documents and marked them as Exhibit A-1 to A-14. 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.20.60 Lacs and on 19.01.2022, a sum of Rs.33,07,788/- was due out of which a sum of Rs.32,21,709/- was due in KCC Limit and Rs.86,079/- was due in Debt Swap Limit. 6. Accordingly, the application of the bank for the recovery of Rs.33,07,788/- (Rupees Thirty Three Lacs Seven Thousand Seven Hundred and Eighty Eight Only) with interest @12.50% per annum with yearly rests from 19.01.2022, 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 agricultural land measuring 24Kanal – 00Marla being 480/8144 being share of land measuring 407Kanal – 04Marla comprised in Khewat No.31 for the jamabandi of the year 2008-2009 situated in the area of Village Jand Wala Bheme Shah, Tehsil and District Fazilka, Hadbast No.203 fully detailed in para No.3(A) of the application as well as from the personal movable and immovable property(ies) of the defendants.

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Pending IAs, if any, stand disposed of. 8. Recovery Certificate be issued accordingly. 9. Parties are directed to appear before Recovery Officer on 24.09.2024, 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: 23.08.2024 Presiding Officer DRT-1, Chandigarh Pankaj

Punjab Gramin Bank v. Sh Tejinder Singh

Case brief

What is this about?

What did the court decide?

Punjab Gramin Bank v. Sh Tejinder Singh

Case brief

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