Allowed

State Bank of India v. Ms. Ranbir Kaur

DRT20 Mar 2024OA/377/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the applicant bank's application for recovery of Rs.21,24,738/- and interest due from the defendant arising from an agricultural loan secured by mortgaged land. The defendant appeared ex parte.

What did the court decide?

Recovery of Rs.21,24,738/- with interest @10.60% per annum allowed; Recovery Certificate issued; Mortgaged land and standing crops directed to be sold.

State Bank of India versus Ms. Ranbir Kaur — Company and Corporate | DRT (2024)

¶1

IN THE DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH

¶2

BEFORE: A S NARANG, PRESIDING OFFICER

¶3

OA No: 377/2022

¶4

Date of Institution: 23.02.2022 Date of Decision: 20.03.2024

¶5

SBI, having branches all over India and one of its Branch at Guru Ki Nagri Mandi Gobindgarh, District Fatehgarh Sahib.

¶6

……..Applicant

¶7

Vs.

¶8

Ms. Ranbir Kaur D/o Sh. Sher Singh, R/o Village Chattarpura, Tehsil Amloh, District Fatehgarh Sahib.

¶9

……….Defendant

¶10

Advocates

¶11

Ms. Puja Sharma, Counsel for the applicant bank. Defendant - ex parte

¶12

OA for the Recovery of Rs.21,24,738/- with interest @10.60% per annum with half yearly rests from 04.02.2022.

¶13

ORDER

¶14

SBI, (Bank) has filed this application under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993 (RDB Act) for the recovery of Rs.21,24,738/- with interest against Ms. Ranbir Kaur (defendant).

¶15

Bank’s case is that on 18.12.2014, it had granted a KCC Limit of Rs.15.00 Lacs to defendant for agricultural purpose. To secure the loan, Defendant had mortgaged her land (fully detailed in para No.3(A) of the application). The loan was chargeable to interest @10.60% per annum with half yearly rests. On 04.02.2022, a sum of Rs.21,24,738/- was due from the defendant. Despite repeated requests, defendant did not make the repayment. Hence, this application.

¶16

On 14.03.2022, summons was sent to the defendant by registered post, which was duly served. However, defendant did not put in appearance. Vide order dated 29.11.2022, she was proceeded ex parte .

¶17

¶18

In order to prove its case, the Bank has placed on record the affidavit of Smt. Anju Nagpal, Chief Manager along with the loan and security documents and marked them as Exhibit A-1 to A-13.

¶19

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.15.00 Lacs and on 04.02.2022, a sum of Rs.21,24,738/- was due.

¶20

Accordingly, the application of the bank for the recovery of Rs.21,24,738/- (Rupees Twenty One Lacs Twenty Four Thousand Seven Hundred and Thirty Eight Only) with interest @10.60% per annum with half yearly rests from 04.02.2022, 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.

¶21

Pending IAs, if any, stand disposed of. 8. Recovery Certificate be issued accordingly. 9. Parties are directed to appear before Recovery Officer on 19.04.2024, 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 . 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: 20.03.2024 Presiding Officer DRT-1, Chandigarh

¶22

Pankaj

State Bank of India v. Ms. Ranbir Kaur

Case brief

What is this about?

What did the court decide?

State Bank of India v. Ms. Ranbir Kaur

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

Coram

Case details

Similar cases

Saroj Devi versus Bank of Baroda

Ms a R Marbles versus Hdfc Bank

Rakesh Kumar Upadhyay and others versus Indian Bank (Allahabad Bank)

Rajesh Anand versus Anand Rathi Global Finance Ltd.

Punjab National Bank versus Rajeev

Indian Bank versus Ms Brand Shop