Allowed

Punjab National Bank v. Kushal Singh

DRT6 May 2025OA/1012/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal, Chandigarh, allowed the application filed by Punjab National Bank to recover Rs. 27,21,246.74 plus interest against Kushal Singh. The court directed issuance of a Recovery Certificate and appearance before the Recovery Officer for property sale.

What did the court decide?

Allowed recovery of Rs. 27,21,246.74 with interest @12.75% p.a.; issued Recovery Certificate; directed appearance before Recovery Officer for property sale.

Punjab National Bank versus Kushal Singh — Contract and Commercial Disputes | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH

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BEFORE: A S NARANG, PRESIDING OFFICER

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OA No: 1012 of 2022 Date of Institution: 13.05.2022 Date of Decision: 06.05.2025

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Punjab National Bank having its branches all over India and a branch at Hajipur, Tehsil Mukerian, District Hoshiarpur, Punjab.

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……..Applicant Vs.

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Kushal Singh s/o Sh. Munshi Ram resident of Village Nikku Chak, PO Hajipur, Tehsil Mukerian, District Hoshiarpur, Punjab.

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……….Defendant

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Advocates

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Sh. Chaman Dahiya, Nodal Officer for the applicant bank. Defendant - ex parte .

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OA for the Recovery of Rs. 27,21,246.74p with interest @12.75% per annum with half-yearly rests from 13.05.2022.

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ORDER

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Punjab National Bank (Bank) has filed this application under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993 (RDB Act) for the recovery of Rs. 27,21,246.74p with interest against Sh. Kushal Singh (defendant).

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Bank’s case is that on 30.05.2014, it had granted a loan of Rs.20.00Lacs to Defendant in the form of K.C.C Limit for agricultural purpose. To secure the loan, Defendant had mortgaged his land (fully detailed in para No.3A of the application). The loan was chargeable to interest @12.75% per annum with half-yearly rests. On 31.03.2022, a sum of Rs. 27,21,246.74p was due from the defendant. Despite repeated requests, defendant did not make the repayment. Hence, this application.

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On 10.06.2022, summons was sent to the defendant by registered post, which were duly served. However, defendant did not put in appearance. Vide order dated 29.08.2023, he was proceeded ex parte .

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4. In order to prove its case, the Bank has placed on record the affidavit of Mr. Baldev Kumar, 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.20.00Lacs and on 31.03.2022, a sum of Rs. 27,21,246.74p was due.
6. Accordingly, the application of the bank for the recovery of
Rs.27,21,246.74p (Rupees Twenty Seven Lacs Twenty One Thousand
Two Hundred and Forty Six and Seventy Four Paise Only) with interest
@12.75% per annum with half-yearly rests from 13.05.2022, 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.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. Party is directed to appear before Recovery Officer on09.06.2025,
who is directed to distribute the sale proceeds of the mortgaged
property(ies) 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 party.
Pronounced in the open Court. (A S Narang) Dated: 06.05.2025 Presiding Officer DRT-1, Chandigarh Amanpreet (LR)

Punjab National Bank v. Kushal Singh

Case brief

What is this about?

What did the court decide?

Punjab National Bank v. Kushal Singh

Case brief

What is this about?

What did the court decide?

What the court decided

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