Allowed

State Bank of India v. Harvel Singh

DRT21 Aug 2024OA/769/2022

Case brief

AI extract

What is this about?

This order pertains to an Original Application filed by SBI for recovery of a loan amount with interest under the Recovery of Debts and Bankruptcy Act against a defendant who failed to appear. The Presiding Officer, after perusing documentary evidence, allowed the application for recovery of dues and directed sale of mortgaged property.

What did the court decide?

Application allowed; recovery of Rs.35,47,585/- with interest granted; Recovery Certificate issued; defendant's property to be sold to repay dues.

State Bank of India versus Harvel Singh — Banking and Recovery | DRT (2024)

¶1

IN THE DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH

¶2

BEFORE: A S NARANG, PRESIDING OFFICER

¶3

OA No: 769 of 2022 Date of Institution: 12.04.2022 Date of Decision: 21.08.2024

¶4

SBI, SARB, Plot No.311, 4^th Floor, Aman Plaza Complex, Tower-B, Adjoining Passport Sewa Kendra, Lajpat Nagar, Ambedkar, Chowk, Jalandhar, Punjab.

¶5

……..Applicant

¶6

Vs.

¶7

Harvel Singh S/o Darshan Singh, R/o Village Bagha (Baghe), P.O. Gardhiwala, Tehsil Dasuya, District Hoshiarpur, Punjab.

¶8

……….Defendant

¶9

Advocates

¶10

Sh. Gurinderjit Singh, Counsel for the applicant bank. Defendant- Ex parte.

¶11

OA for the Recovery of Rs.35,47,585/- with interest @10.60% per annum with half yearly rests from the date of filing the present application i.e. 12.04.2022.

¶12

ORDER

¶13

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.35,47,585/- with interest against Harvel Singh (defendant) .

¶14

Bank’s case is that on 16.01.2017, it had granted KCC Limit of Rs.20.00 lacs and ATL Facility of Rs.3.00 lacs, totaling Rs.23.00 lacs to defendant for agricultural purpose. To secure the loan, Defendant had mortgaged his immovable property (fully detailed in para No.5(vi) of the application). The loan was chargeable to interest @10.60% per annum with half yearly rests. On 10.04.2022, a sum of Rs.35,47,585/- was due from the defendant. Despite repeated requests, defendant did not make the repayment. Hence, this application.

¶15

On 17.05.2022, summons was sent to the defendant by registered post, which was duly served. However, defendant did not put in appearance. Vide order dated 19.07.2023, he was proceeded ex parte .

¶16

¶17

In order to prove its case, the Bank has placed on record the affidavit of Mr. Manjit Mahey, Chief 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 facilities of Rs.23.00 lacs and on 10.04.2022, a sum of Rs.35,47,585/was due. 6. Accordingly, the application of the bank for the recovery of Rs.35,47,585/- (Rupees Thirty Five Lacs Forty Seven Thousand Five Hundred Eighty Five Only) with interest @10.60% per annum with half yearly rests from the date of filing the present application i.e. 12.04.2022, 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.5(vi) of the application as well as from the personal movable and immovable property(ies) of the defendant.

¶18

Pending IAs, if any, stand disposed of. 8. Recovery Certificate be issued accordingly. 9. Parties are directed to appear before Recovery Officer on 24.09.2024 , 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: 21.08.2024 Presiding Officer DRT-1, Chandigarh

State Bank of India v. Harvel Singh

Case brief

What is this about?

What did the court decide?

State Bank of India v. Harvel Singh

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

Pradeep Bhanuvadan Shah and Ors. versus Hero Housing Finance Limited

Rambhai M Gondaliya versus Icici Bank Limited

Ms Ekta Cold Storage versus Indian Bank

Harikishan Shankarji Gogikar a K a Harikrishanan Shankarji Gudipati versus Encore Assets Reconstruction Company Pvt. Ltd.

Mr Anil Anant Mhadaye versus The Housing Development Finance Corporation Ltd.

Mr Raja Nagrajan and Anr. versus Diwan Housing Finance Corp Ltd. Ors.