Allowed

State Bank of India v. Sh. Karamvir

DRT19 Jun 2025OA/1059/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an application filed by a bank for recovery of dues of Rs.34 lakhs along with interest pending an interim period. The tribunal validated the bank's evidence, included both primary and secondary defendants in the decree as jointly and severally liable, and directed the issue of a recovery certificate and distribution of sale proceeds according to statutory provis

What did the court decide?

Recovery of Rs.34,25,523/- with interest directed; recovery certificate issued; parties directed to appear on the appointed date for distribution of proceeds.

State Bank of India versus Sh. Karamvir — Contract and Commercial Disputes | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL-II, CHANDIGARH

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BEFORE: A S NARANG, PRESIDING OFFICER

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OA No: 1059/2022

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Date of Institution: 18.05.2022 Date of Decision: 19.06.2025

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SBI at S.C.O 15, Second Floor, Sector 7-C, Madhya Marg, Chandigarh160019

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……..Applicant

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Vs.

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Sh. Karamvir S/o Sh. Amar Singh, r/o House No. 4, D Block, Maya Garden, Phase I, Zirakpur, Punjab-140603.

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II^nd Address: House No. 55 (UC), Eden City, Village Khanpur, Kharar, Punjab-140307.

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III^rd Address: Plot No.358, Industrial Area, Phase I, Panchkula, Haryana- 134113.

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Smt. Meena Devi W/o Sh. Karamvir, r/o House No. 4, D Block, Maya Garden, Phase I, Zirakpur, Punjab-140603.

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II^nd Address: House No. 55 (UC), Eden City, Village Khanpur, Kharar, Punjab- 140307.

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…….Defendants

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Advocates

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Ms Anu Dhiman proxy counsel for Sh. Gaurav Singla, Counsel for the applicant bank

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Defendants- ex parte

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OA for the Recovery of Rs.34,25,523/- with interest @10.65% per annum with monthly rests from 18.05.2022.

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ORDER

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SBI (Applicant Bank) has filed this application under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993 (RDB Act) for the recovery of Rs.34,25,523/- with interest against Sh. Karamvir and Another (defendants).

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Bank’s case is that on 21.08.2019, it had granted loan of Rs.20.95 Lacs in the form of Term Loan Facility-I for housing purpose and on 15.10.2019, Rs.7.30 Lacs in the form of Term Loan Facility-II for purchase of vehicle namely Maruti Suzuki Vitara Brezza VDI to the defendants. To secure the Term Loan Facility-I, defendant no. 1 had mortgaged his property (fully detailed in para No.3A of the application). The loans were chargeable to interest @8.65% per annum with monthly rests in Term Loan Facility-I and @9.70% per annum with monthly rests in Term Loan Facility-II. On 07.05.2022, a sum of Rs.34,25,523/- was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.

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On 15.07.2022, summonses were sent to the defendants by registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 10.04.2023, they were proceeded ex parte .

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4.	In order to prove its case, the Bank has placed on record the
affid	avit of Sh. Sanjeev Parkash Verma, Chief Manager along with the
loan	and security documents and marked them as Exhibit A-1 to A-16.
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 total loan
of Rs	.28.25 Lacs and on 07.05.2022, a sum of Rs.34,25,523/- was due.
6.	Accordingly, the application of the bank for the recovery of
Rs.34	,25,523/- (Rupees Thirty Four Lacs Twenty Five Thousand Five

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Hundred and Twenty Three Only) with interest @10.65% per annum with monthly rests from 18.05.2022, 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 hypothecated vehicle/mortgaged property(ies) fully detailed in para No.3A of the application as well as from the personal movable and immovable property(ies) of the defendants.

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Pending IAs, if any, stand disposed of. 8. Recovery Certificate be issued accordingly. 9. Parties are directed to appear before Recovery Officer on 24.07.2025 , who is directed to distribute the sale proceeds of the mortgage property(ies) 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.

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Pronounced in the open Court (A S Narang) Dated: 19.06.2025 Presiding Officer DRT-2, Chandigarh (Additional charge)

State Bank of India v. Sh. Karamvir

Case brief

What is this about?

What did the court decide?

State Bank of India v. Sh. Karamvir

Case brief

What is this about?

What did the court decide?

What the court decided

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Issues for consideration

Statutes considered

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