Allowed

Punjab National Bank v. Jasdev Singh

DRT30 Oct 2025OA/1095/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the applicant bank's application for recovery of Rs.22,78,270 with interest against the defendant Jagdev Singh. The bank proved the loan advance and dues via affidavit and documents. An ex parte order was previously passed. The court directed the issue of a Recovery Certificate and appearance before the Recovery Officer for distribution of sale proceeds.

What did the court decide?

Recovery of Rs.22,78,270 with interest at 8.85% p.a.; issuance of Recovery Certificate; direction to appear before Recovery Officer for distribution of sale proceeds.

Punjab National Bank versus Jasdev Singh — Banking and Recovery | DRT (2025)

¶1

IN THE DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH

¶2

BEFORE: A S NARANG, PRESIDING OFFICER

¶3

OA No: 1095/2022 Date of Institution: 30.05.2022 Date of Decision: 30.10.2025

¶4

Punjab National Bank having its branches all over India and a branch at Talwandi Bharath, Punjab.

¶5

……..Applicant

¶6

Vs.

¶7

Jasdev Singh s/o Sh. Ranbir Singh, r/o Village Dhadiala Natt, Tehsil Batala, District Gurdaspur, Punjab.

¶8

……….Defendant

¶9

Advocates

¶10

Sh. Bharat Kawal proxy counsel for Sh. K. S. Manhas, Counsel for the applicant bank.

¶11

Defendant- ex parte vide order dated 07.05.2024 .

¶12

OA for the Recovery of Rs.22,78,270/- with interest @8.85% per annum with yearly rests from 30.05.2022.

¶13

ORDER

¶14

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.22,78,270/- with interest against Sh. Jasdev Singh (defendant).

¶15

Bank’s case is that on 28.7.2015, it had granted a loan of Rs.17.00 Lacs 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 @8.85% per annum with yearly rests. The defendants were served legal notice on 19.09.2018 and 29.04.2019. On 23.05.2022, a sum of Rs.22,78,270/- was due from the defendant. Despite repeated requests, defendant did not make the repayment. Hence, this application.

¶16

¶17

On 20.06.2022, summons was sent to the defendant by registered post, which was duly served. However, defendant did not put in appearance. Vide order dated 07.05.2024, he was proceeded ex parte .

¶18

In order to prove its case, the Bank has placed on record the affidavit of Sh. Sham Sunder Sharma, Deputy Manager along with the loan and security documents and marked them as Exhibit A-1 to A-12. 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.17.00 Lacs and on 23.05.2022, a sum of Rs.22,78,270/- was due. 6. Accordingly, the application of the bank for the recovery of Rs.22,78,270/- (Rupees Twenty Two Lacs Seventy Eight Thousand Two Hundred Seventy Only) with interest @8.85% per annum with yearly rests from 30.05.2022, 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.

¶19

Pending IAs, if any, stand disposed of. 8. Recovery Certificate be issued accordingly. 9. Party is directed to appear before Recovery Officer on 03.12.2025, who is directed to distribute the sale proceeds of the mortgaged land 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.

¶20

Pronounced in the open Court. (A S Narang) Dated: 30.10.2025 Presiding Officer DRT-1, Chandigarh MANOJ KALRA

Punjab National Bank v. Jasdev Singh

Case brief

What is this about?

What did the court decide?

Punjab National Bank v. Jasdev 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

Indian Overseas Bank versus Kamaljit Singh

Ms General Trading Company versus Jammu and Kashmir Bank Limited

Punjab National Bank versus Piara Singh

Ms R S Belvedere versus the Kangra Central Cooperative Bank Limited

Ms Parwati Vehicles Pvt. Ltd. and others versus Bank of Baroda

Standard Chartered Bank versus M/s Nanma Marketing Pvt. Ltd.