The Debts Recovery Tribunal allowed the bank's application under Section 19 of the RDB Act for recovery of Rs. 23,50,799/- with interest against mortgaged property and personal assets of the defendants.
Application allowed with costs; recovery certificate issued; order for distribution of sale proceeds.
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: 1105/2022 Date of Institution: 30.05.2022 Date of Decision: 11.03.2025 Punjab National Bank having its branches all over India and a branch at Qadian Road, Batala, Tehsil Batala, District Gurdaspur, Punjab. ……..Applicant Vs. 1. Mangal Singh s/o Chanchal Singh 2. Balkar Singh s/o Singara Singh Both r/o Village Manoharpur, Tehsil Batala, District Gurdaspur, Punjab. ……….Defendants Advocates Mr. Ankit Kaushal, Counsel for the applicant bank. Defendants - ex parte . OA for the Recovery of Rs.23,50,799/- with interest @9.25% per annum with yearly rests from 30.05.2022. ORDER 1. PNB (Bank) has filed this application under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993 (RDB Act) for the recovery of Rs.23,50,799/- with interest against Sh. Mangal Singh and another (defendants). 2. Bank’s case is that on 28.08.2015, it had granted a loan of Rs.15.00 Lacs to Defendant Nos.1 and 2 in the form of K.C.C Limit for agricultural purpose. To secure the loan, Defendant Nos.1 and 2 had mortgaged their land (fully detailed in para No.3A of the application). The loan was chargeable to interest @9.25% per annum with yearly rests. On 28.02.2022, a sum of Rs.23,50,799/- was due from the
| 2 defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application. |
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| 3. On 20.06.2022, summonses were sent to the defendants by registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 10.03.2023, they were proceeded_ex_ parte. |
| 4. In order to prove its case, the Bank has placed on record the affidavit of Sh. Naresh Gupta, Authorized Officer 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.15.00 Lacs and on 28.02.2022, a sum of Rs.23,50,799/- was due. |
| 6. Accordingly, the application of the bank for the recovery of |
| Rs.23,50,799/- (Rupees Twenty Three Lacs Fifty Thousand Seven |
| Hundred Ninety Nine Only) with interest @9.25% per annum with yearly rests from 30.05.2022, 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 mortgaged land 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 |
| **09.04.2025,**who is directed to distribute the sale proceeds of the |
| mortgage land and standing crops as per the provisions of Section 19(20-AB) of the Act**.** |
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the Recovery Officer as well as the parties. Pronounced in the open Court. (A S Narang) Dated: 11.03.2025 Presiding Officer DRT-1, Chandigarh
1 issue framed by the court
Whether the bank proved its case for recovery of the outstanding loan amount with interest.
2 provisions across 1 enactments
Punjab National Bank
Mangal Singh
Balkar Singh
A S NARANG
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
