Canara Bank v. Gian Singh
Case brief
What is this about?
The Debts Recovery Tribunal allowed the applicant bank's application under Section 19 of the RDB Act to recover a loan of Rs. 50 Lacs plus interest, dismissing the respondent's absence as ex parte default and ordering the sale of mortgaged property.
What did the court decide?
Recovery of Rs. 76,73,793 with interest allowed; Recovery Certificate issued; Sale of mortgaged land directed.
What the court decided
IN THE DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH
BEFORE: A S NARANG, PRESIDING OFFICER
OA No: 200/2023 Date of Institution: 30.12.2022 Date of Decision: 19.11.2024
Canara Bank, one of its branch office situated at Nakodar Road, Nurmahal, District Jalandhar, Punjab.
……..Applicant Vs.
Gian Singh S/o Sh. Budh Singh, R/o H.No.6335, Ward No.15, Mohalla Guru Nanak Pura, Tehsil Nakodar, District Jalandhar, Punjab – 144040.
……….Defendant
Advocates
Sh. Munish Yadav, Counsel for the applicant bank. Defendant – ex parte
OA for the Recovery of Rs.76,73,793/- with interest @11.55% per annum with yearly rests from 30.12.2022.
ORDER
Issues for consideration
2 issues framed by the court
Whether an application under Section 19 of the RDB Act for recovery of loan dues is maintainable.
Whether the summons served by registered post was sufficient to proceed ex parte in the absence of appearance.
Parties & counsel
- applicant
Canara Bank
- respondent
Gian Singh
Coram
A S Narang
Case details
As recorded by the court registry
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