, the Debts Recovery Tribunal allowed the applicant bank's application for recovery of Rs. 32,70,966/- with interest against the respondents who failed to repay an agricultural loan secured by a mortgage.
Recovery of Rs.32,70,966/- with interest allowed; Recovery Certificate issued; Sale of mortgaged property directed.
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: 784 of 2022 Date of Institution: 06.04.2022 Date of Decision: 23.08.2024
Punjab National Bank, Uchhi Bassi, Hoshiarpur, Punjab.
……..Applicant
Vs.
……….Defendants
Advocates
Ms. Rajni Narula, Counsel for the applicant bank (appeared through VC). Defendants- Ex parte.
OA for the Recovery of Rs.32,70,966/- with interest @10.85% per annum with half yearly rests from 01.04.2022.
ORDER
2
| put in appearance.Vide_order dated 01.12.2022, they were proceeded_ex parte. |
|---|
| 4. In order to prove its case, the Bank has placed on record the |
| affidavit of Mr. Baldev Kumar, Authorized Representative along with |
| the loan and security documents and marked them as Exhibit A-1 to A- |
| 10. |
| 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 31.03.2022, a sum of Rs.32,70,966/- was due. |
| 6. Accordingly, the application of the bank for the recovery of |
| Rs.32,70,966/- (Rupees Thirty Two Lacs Seventy Thousand Nine |
| Hundred Sixty Six Only) with interest @10.85% per annum with half yearly rests from 01.04.2022, 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.3A 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 |
| 26.09.2024, 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: 23.08.2024 Presiding Officer DRT-1, Chandigarh |
1 issue framed by the court
Whether the applicant bank is entitled to recover outstanding dues from the mortgagors under Section 19 of the RDB Act.
2 provisions across 1 enactments
Punjab National Bank
Sh. Ramesh Singh S/o Sh. Bhula Singh
Sh. Kesho Ram S/o Sh. Mohinder Singh
A S Narang
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
