Allowed

Punjab National Bank v. Late Sh Sarwan Singh

DRT16 Jul 2024OA/1978/2022

Case brief

AI extract

What is this about?

The DRT-I, Chandigarh allowed the bank's application for recoveryof Rs.20.47 lakhs plus interest against the legal heirs of the deceasedborrower. The court directed the issuance of a recovery certificateand authorized the sale of mortgaged land.

What did the court decide?

Recovery of Rs.20,47,379 with interest directed; recovery certificateissued; sale of mortgaged land ordered by Recovery Officer.

Punjab National Bank versus Late Sh Sarwan Singh — Execution and Attachment | 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: 1978/2022 Date of Institution: 17.09.2022 Date of Decision: 16.07.2024

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Punjab National Bank, branch amongst at Aliwal, District Gurdaspur.

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……..Applicant

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Vs.

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Late Sh. Sarwan Singh S/o Sh. Sukhdev Singh, R/o H.No.74, Village Kadian Rajputtan, Tehsil Batala, District Gurdaspur, (Borrower/Mortgagor since deceased) through defendant Nos.2 to 4, known legal heirs to the estate of deceased, R/o Village Kadian Rajputtan, Tehsil Batala, District Gurdaspur.

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2. Smt. Harjit Kaur W/o Late Sh. Sarwan Singh, R/o H.No.74, Village Kadian Rajputtan, Tehsil Batala, District Gurdaspur Legal Heir to the Estate of Late Sh. Sarwan Singh.

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3. Sh. Jai Preet Singh S/o Late Sh. Sarwan Singh, R/o H.No.74, Village Kadian Rajputtan, Tehsil Batala, District Gurdaspur Legal Heir to the Estate of Late Sh. Sarwan Singh.

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4. Sh. Akash Preet Singh S/o Late Sh. Sarwan Singh, R/o H.No.74, Village Kadian Rajputtan, Tehsil Batala, District Gurdaspur Legal Heir to the Estate of Late Sh. Sarwan Singh.

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……….Defendants

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Advocates

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Ms. Lovedeep Kaur, proxy Counsel for Ms. Puja Sharma, Counsel for the applicant bank.

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Defendants – ex parte

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OA for the Recovery of Rs.20,47,379/- with interest @8.95% per annum with half yearly rests from 23.08.2022.

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ORDER

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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.20,47,379/- with interest against Late Sh. Sarwan Singh since deceased through defendant Nos.2 to 4 (defendants).

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Bank’s case is that on 11.01.2017, it had granted a KGS Limit of Rs.13.00 Lacs to defendant No.1 i.e. late Sh. Sarwan Singh (since deceased) for agricultural purpose. To secure the loan, Defendant No.1 i.e. late Sh. Sarwan Singh (since deceased) had mortgaged his land (fully detailed in para No.3(A) of the application). Sh. Sarwan Singh, died on 11.05.2020 and defendant Nos.2 to 4 are his legal heirs. The loan was chargeable to interest @8.95% per annum with half yearly rests. On 23.08.2022, a sum of Rs.20,47,379/- was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.

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On 13.10.2022, summonses were sent to the defendants by registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 24.07.2023, 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. Gurpreet Singh, Deputy 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.13.00 Lacs and on 23.08.2022, a sum of Rs.20,47,379/- was due. 6. Accordingly, the application of the bank for the recovery of Rs.20,47,379/- (Rupees Twenty Lacs Forty Seven Thousand Three Hundred and Seventy Nine Only) with interest @8.95% per annum with half yearly rests from 23.08.2022, till the date of payment is hereby allowed with costs. The LRs of (defendant No.1 Sh. Sarwan Singh) i.e. defendant Nos.2 to 4 would be liable to pay to the extent of property inherited by them from Sh. Sarwan Singh (Deceased). Bank can recover

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its dues by the sale of mortgaged land fully detailed in para No.3(A) of the application also.

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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 20.08.2024, 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 .

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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: 16.07.2024 Presiding Officer DRT-1, Chandigarh

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Pankaj

Punjab National Bank v. Late Sh Sarwan Singh

Case brief

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Punjab National Bank v. Late Sh Sarwan Singh

Case brief

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