The Debts Recovery Tribunal allowed the State Bank of India's ex parte application for recovery of Rs. 26,44,644.61 with interest against the defaulting defendant, authorizing sale of mortgaged property.
Recovery of Rs. 26,44,644.61 with interest @10.60% p.a. and costs allowed via sale of mortgaged property.
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: 391 of 2022 Date of Institution: 08.11.2021 Date of Decision: 24.09.2024
SBI, branch office at SARB, Ambedkar Chowk, Jalandhar, Punjab.
……..Applicant
Vs.
Surinder Singh S/o Sh. Surmukh Singh, R/o Village Bahga, Tehsil Dasuya, District Hoshiarpur, Punjab-144207.
……….Defendant
Advocates
Sh. A. S. Gagrha, Counsel for the applicant bank. Defendant- Ex parte.
OA for the Recovery of Rs.26,44,644.61p with interest @10.60% per annum with half yearly rests from the date of filing the present application i.e. 08.11.2021. ORDER
2
| 4. In order to prove its case, the Bank has placed on record the affidavit of Mr. Balbir Raj, Chief Manager along with the loan and security documents and marked them as Exhibit A-1 to A-18. |
|---|
| 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 08.11.2021, a sum of Rs.26,44,644.61p was due. |
| 6. Accordingly, the application of the bank for the recovery of |
| Rs.26,44,644.61p (Rupees Twenty Six Lacs Forty Four Thousand Six |
| Hundred Forty Four And Paisa Sixty One Only) with interest @10.60% |
| per annum with half yearly rests from the date of filing the present |
| application i.e. 08.11.2021, till the date of payment is hereby allowed |
| with costs. Bank can recover its dues by the sale of mortgaged property, |
| fully detailed in para No.3A 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 |
| 24.10.2024, who is directed to distribute the sale proceeds of the |
| mortgage property 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: 24.09.2024 Presiding Officer DRT-1, Chandigarh |
2 issues framed by the court
Whether the bank's application for recovery of outstanding dues secured by mortgage is maintainable.
Whether the relief of recovery of loan with interest and costs should be granted ex parte.
2 provisions across 1 enactments
State Bank of India
A S Narang
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
