Allowed

State Bank of India v. Shri Surinder Singh

DRT15 Oct 2024OA/2239/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the bank's application under Section 19 of the RDB Act for recovery of a defaulting KCC loan. The court found the loan advanced and amount due proved on record, directing joint and several liability recovery via sale of mortgaged property. A Recovery Certificate was issued.

What did the court decide?

Application for recovery of Rs. 20,79,350/- with interest allowed; Recovery Certificate issued; recovery via sale of mortgaged property, standing crops, and other assets directed.

State Bank of India versus Shri Surinder Singh — Contract and Commercial Disputes | 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: 2239 of 2022 Date of Institution: 22.11.2022 Date of Decision: 15.10.2024

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State Bank of India, having its Branch Office at village Beas Pind, Pathankot Road, Jalandhar.

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……..Applicant

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Vs.

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Shri Surinder Singh son of Shri Joginder Singh, resident of village Charhke, Tehsil and District Jalandhar-144001.

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Shri Joginder Singh son of Shri Asha Singh, resident of village Charhke, Tehsil and District Jalandhar-144001.

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……….Defendants

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Advocates:

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Sh.RK Jindal, Counsel for the applicant bank. Defendants ex parte .

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OA for the Recovery of Rs.20,79,350/- with interest @ 10.25% per annum with half yearly rests from the date of filing.

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ORDER

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State Bank of India (Bank) has filed this application under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993 (RDB Act) for the recovery of Rs. 20,79,350/- with interest against Shri Surinder Singh and another (defendants).

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Bank’s case is that on 22.09.2014, it had granted KCC loan of Rs.21,00,000/- to the defendant No.1 and 2 for agricultural purpose. To secure the loan, Defendant No.2 had mortgaged his agricultural land measuring 42 kanal 18 marlas (fully detailed in para No.7 of the application). Defendants also executed the relevant loan documents. The loan was chargeable to interest @10.25% per annum with half yearly rests. Defendants did not make the payment as per the repayment schedule. On 04.11.2022, a sum of Rs.20,79,350/- was due from the

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defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.

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On 06.01.2023, summonses were sent to the defendants by registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 09.01.2024, 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. Tejinder Pal Singh, Branch Manager along with the loan and security documents and marked them as Exhibit A-1 to A-9 . 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.21,00,000/- and on 04.11.2022 a sum of Rs.20,79,350/- was due. 6. Accordingly, the application of the bank for the recovery of Rs.20,79,350/- (Rupees Twenty Lacs Seventy Nine Thousand Three Hundred Fifty Only) with interest @ 10.25% per annum with half yearly rests from the date of filing, 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 property fully detailed in para No.7 of the application and standing crops, as well as from the personal movable and immovable property(ies) of the defendants.

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7.	Pending IAs, if any, stand disposed of.
8.	Recovery Certificate be issued accordingly.
9.	Parties are directed to appear before Recovery Officer on
18.11	.2024,who is directed to distribute the sale proceeds of the
mort	gage property and standing crops as per the provisions of Section
19(2	0-AB) 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) Presiding Officer DRT-1, Chandigarh Manoj Dated: 15.10.2024

State Bank of India v. Shri Surinder Singh

Case brief

What is this about?

What did the court decide?

State Bank of India v. Shri Surinder Singh

Case brief

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What did the court decide?

What the court decided

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