This judgment allows an application under Section 19 of the RDB Act filed by Punjab National Bank for recovery of dues and interest against a defaulting borrower, permitting recovery via sale of mortgaged land.
Recovery of Rs. 30,35,823.78 with interest at 8.80% p.a., costs, and a Recovery Certificate enabling sale of mortgaged land.
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: 956/2022 Date of Institution: 10.05.2022 Date of Decision: 19.09.2024
Punjab National Bank, a branch amongst at Dadujodh, District Gurdaspur, Punjab.
……..Applicant Vs. Balwinder Singh S/o Sh. Piara Singh R/o Dera Nihang Piara Singh, Village Hardurwal Khurad, Tehsil and District Gurdaspur, Punjab – 143602.
……….Defendant
Advocates
Sh. Rajesh Gupta, Counsel for the applicant bank. Defendant – ex parte OA for the Recovery of Rs.30,35,823.78p with interest @8.80% per annum with half yearly rests from 10.05.2022.
ORDER
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interest @8.80% per annum with half yearly rests. On 10.05.2022, a sum of Rs.30,35,823.78p was due from the defendant. On 30.06.2018 and 25.06.2021, defendant had executed balance and security confirmation letters vide (Exhibit A/9 and A/10). Despite repeated requests, defendant did not make the repayment. Hence, this application.
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2 issues framed by the court
Whether the applicant bank is entitled to recover the outstanding dues along with interest under Section 19 of the RDB Act.
Whether an ex parte disposal of the application was proper given the defendant's failure to appear.
2 provisions across 1 enactments
Punjab National Bank
A S Narang
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
