The Debts Recovery Tribunal allowed an application filed by SBI for recovery of a loan of Rs. 32,83,663/- with interest from the defendant, facilitating recovery via sale of mortgaged property.
Recovery of Rs. 32,83,663/- with interest allowed; recovery via sale of mortgaged land; Recovery Certificate issued.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
IN THE DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH
BEFORE: A S NARANG, PRESIDING OFFICER
OA No: 2158/2022 Date of Institution: 31.10.2022 Date of Decision: 05.11.2024
SBI, one of its branch situated at ADB Phillaur, District Jalandhar.
……..Applicant
Vs.
Sh. Inderjit Singh S/o Sh. Harbhajan Singh, R/o Village Bahadurpur, PO Garh Padana, Tehsil Nawanhahar, District SBS Nagar.
……….Defendant
Advocates
Ms. Puja Sharma, Counsel for the applicant bank. Defendant – ex parte
OA for the Recovery of Rs.32,83,663/- with interest @11.65% per annum with half yearly rests from 31.10.2022.
ORDER
2
| 3. On 13.12.2022, summons was sent to the defendant by registered |
|---|
| post, which was duly served. However, defendant did not put in |
| appearance. Vide order dated 11.09.2023, he was proceeded_ex parte_. |
| 4. In order to prove its case, the Bank has placed on record the |
| affidavit of Mr. Pradeep Kumar Chauhan, Branch Manager along with the loan and security documents and marked them as Exhibit A-1 to A- |
| 15. |
| 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.16.00 Lacs and on 31.10.2022, a sum of Rs.32,83,663/- was due. |
| 6. Accordingly, the application of the bank for the recovery of |
| Rs.32,83,663/- (Rupees Thirty Two Lacs Eighty Three Thousand Six |
| Hundred and Sixty Three Only) with interest @11.65% per annum with |
| half yearly rests from 31.10.2022, till the date of payment is hereby |
| allowed with costs. Bank can recover its dues by the sale of mortgaged |
| 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 |
| **05.12.2024,**who is directed to distribute the sale proceeds of the |
| mortgage land and standing crops as per the provisions of Section 19(20- AB) 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: 05.11.2024 Presiding Officer DRT-1, Chandigarh Pankaj |
1 issue framed by the court
Whether the application for recovery of dues under Section 19 of the RDB Act is sustainable.
2 provisions across 1 enactments
SBI
A S Narang
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
