Allowed

Punjab Gramin Bank v. Shri Jatinder Bir Singh

DRT16 Aug 2024OA/342/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the applicant bank's application for recovery of dues amounting to Rs.20,93,941/- with interest against three respondents who were borrowers and a guarantor of a housing loan, proceeding ex-parte due to non-appearance, and directed the issuance of a recovery certificate.

What did the court decide?

Order allowed with costs; Recovery Certificate issued; Relief to recover Rs.20,93,941/- with interest and costs by sale of mortgaged and personal properties.

Punjab Gramin Bank versus Shri Jatinder Bir 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: 342 of 2022 Date of Institution: 04.02.2022 Date of Decision: 16.08.2024

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Punjab Gramin Bank, having its Head Office at Jalandhar Road, Kapurthala, Punjab.

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……..Applicant

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Vs.

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Sh. Jatinder Bir Singh S/o Sh. Davinder Singh, House No.41, Ranjit Vihar, Loharka Road Amritsar, Punjab-143601.

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Smt. Sawinderjeet Kaur W/o Sh. Davinder Singh, House No.41, Ranjit Vihar, Loharka Road Amritsar, Punjab-143601.

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Sh. Davinder Singh S/o Sh. Gurmej Singh, House No.41, Ranjit Vihar, Loharka Road Amritsar, Punjab-143601.

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……….Defendants

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Advocates

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Sh. Bhushan Bhatia, Counsel for the applicant bank. Defendants- Exparte.

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OA for the Recovery of Rs.20,93,941/- with interest @9.40% per annum with monthly rests from 05.02.2022.

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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.20,93,941/- with interest against Sh. Jatinder Bir Singh And Another (defendants).

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Bank’s case is that on 26.06.2014, it had granted Housing Loan of Rs.20.00 lacs to defendant nos.1 and 2. Defendant no.3 stood as guarantor. To secure the loan, Defendant nos.1 and 2 had mortgaged their immovable property (fully detailed in para No.3A of the application). The loan was chargeable to interest @10.25% per annum with monthly rests. On 04.02.2022, a sum of Rs.20,93,941/- was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.

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3. On 18.04.2022, summonses were sent to the defendants by registered post, which were duly served. However, defendants did not put in appearance.Vide_order dated 21.07.2023, they were proceeded_ex parte.
4. In order to prove its case, the Bank has placed on record the affidavit of Mr. Ashwani Dutta, Chief 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.20.00 lacs and on 04.02.2022, a sum of Rs.20,93,941/- was due.
6. Accordingly, the application of the bank for the recovery of
Rs.20,93,941/- (Rupees Twenty Lacs Ninety Three Thousand Nine
Hundred Forty One Only) with interest @9.40% per annum with
monthly rests from 05.02.2022, 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 property,
fully detailed in para No.3(A) of the application, as well as from the personal movable and immovable property(ies) of the defendants. 7. Pending IAs, if any, stand disposed of.
8. Recovery Certificate be issued accordingly.
9. Parties are directed to appear before Recovery Officer on
16.09.2024, who is directed to distribute the sale proceeds of the
mortgage property 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: 16.08.2024 Presiding Officer DRT-1, Chandigarh

Punjab Gramin Bank v. Shri Jatinder Bir Singh

Case brief

What is this about?

What did the court decide?

Punjab Gramin Bank v. Shri Jatinder Bir Singh

Case brief

What is this about?

What did the court decide?

What the court decided

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