Allowed

Punjab National Bank v. Shayaan Mir

DRT8 Aug 2025OA/1112/2022

Case brief

AI extract

What is this about?

In an OA under Section 19 of the RDB Act, Punjab National Bank sought recovery of Rs. 36,00,897/- plus interest. Established loan and default facts, the court allowed the application, decreing joint and several liability and authorizing recovery via mortgage sale.

What did the court decide?

Allowed application for recovery of Rs. 36,00,897/- with interest; Recovery Certificate issued; Directions to Recovery Officer for distribution of sale proceeds.

Punjab National Bank versus Shayaan Mir — 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: 1112 of 2022 Date of Institution: 30.05.2022 Date of Decision: 08.08.2025

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Punjab National Bank having its branches all over India and a branch at Amira Kadal, Lal Chowk, Srinagar, Jammu & Kashmir.

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……..Applicant

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Vs.

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Shayaan Mir s/o Ghulam Mohiuddin Mir r/o Ryan Enclave, Sheikh Pora Humhama, Tehsil and District Budgam, Jammu & Kashmir.

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Ghulam Mohiuddin Mir s/o Ghulam Mohd. Mir r/o Ryan Enclave, Sheikh Pora Humhama, Tehsil and District Budgam, Jammu & Kashmir.

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Shameema Mir (Shamima Begum) w/o Ghulam Mohiuddin Mir r/o Ryan Enclave, Sheikh Pora Humhama, Tehsil and District Budgam, Jammu & Kashmir.

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……….Defendants

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Advocates

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Sh. DK Gupta, Counsel for the applicant bank. Defendants - ex parte .

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OA for the Recovery of Rs.36,00,897/- with interest @11% per annum with monthly rests from 30.05.2022.

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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.36,00,897/- with interest against Shayaan Mir and others (defendants).

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Bank’s case is that on 01.06.2012, it had granted a loan of Rs.20.00Lacs to Defendants in the form of Term Loan Facility for education purpose. To secure the loan, Defendant no. 3 had mortgaged her land (fully detailed in para no.3A of the application). The loan was chargeable to interest @11% per annum with monthly rests. The

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defendants had acknowledged their liability towards the debt on
09.10.2014, 30.04.2018 and 17.05.2019. On 13.05.2022, a sum of
Rs.36,00,897/- was due from the defendants. Despite repeated requests,
defendants did not make the repayment. Hence, this application.
3. On 21.06.2022, summonses were sent to the defendants by
registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 14.03.2023, they were proceeded_ex_ parte.
4. In order to prove its case, the Bank has placed on record the affidavit of Mr. Amjad Ahmad Mughal, Branch Manager along with the loan and security documents and marked them as Exhibit A-1 to A-13.
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 13.05.2022, a sum of Rs.36,00,897/- was due.
6. Accordingly, the application of the bank for the recovery of
Rs.36,00,897/- (Rupees Thirty Six Lacs Eight Hundred Ninety Seven
Only) with interest @11% per annum with monthly 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
18.09.2025,who is directed to distribute the sale proceeds of the

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mortgaged 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. Pronounced in the open Court. (A S Narang) Dated: 08.08.2025 Presiding Officer DRT-1, Chandigarh

Punjab National Bank v. Shayaan Mir

Case brief

What is this about?

What did the court decide?

Punjab National Bank v. Shayaan Mir

Case brief

What is this about?

What did the court decide?

What the court decided

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