Allowed

Punjab National Bank v. Buta Singh

DRT24 Jul 2025OA/1135/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the applicant bank's ex parte application for recovery of Rs.45,06,378 with interest against the respondents, who failed to appear. The court directed the issuance of a Recovery Certificate and directed the Recovery Officer to distribute sale proceeds from mortgaged land.

What did the court decide?

Allowed recovery of Rs.45,06,378/- with interest; issued Recovery Certificate; directed Recovery Officer to distribute sale proceeds from mortgaged land.

Punjab National Bank versus Buta 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: 1135/2022 Date of Institution: 01.06.2022 Date of Decision: 24.07.2025

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Punjab National Bank having its branches all over India and a branch at Khai Pheme Ke, District Ferozepur, Punjab.

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……..Applicant

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Vs.

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Buta Singh s/o Sh. Kehar Singh, r/o Village Kamal Wala, Tehsil and District Ferozepur, Punjab.

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Bhajan Singh s/o Sh. Kehar Singh, r/o Village Kamal Wala, Tehsil and District Ferozepur, Punjab.

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……….Defendants

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Advocates

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Ms. Shivya Sehgal, Counsel for the applicant bank. Defendants - ex parte vide order dated 15.03.2023 .

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OA for the Recovery of Rs.45,06,378/- with interest @10.75% per annum with half-yearly rests from 01.06.2022.

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ORDER

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Punjab National Bank has filed this application under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993 (RDB Act) for the recovery of Rs.45,06,378/- with interest against Sh. Buta Singh and another (defendants).

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Bank’s case is that on 06.07.2010, it had granted a O.G.C. Limit of Rs.4.00 Lacs and a Term Loan of Rs.12.00 Lacs to defendant Nos. 1 and 2 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 loans were chargeable to interests @10.50% in OGC limit and @10.75%

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in Term Loan per annum with half-yearly rests. On 21.05.2022, a sum of Rs.45,06,378/- was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application. 3. On 27.06.2022, summonses were sent to the defendants by registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 15.03.2023, they were proceeded ex parte . 4. In order to prove its case, the Bank has placed on record the affidavit of Sh. Sandeep Kumar, Senior Manager along with the loan and security documents and marked them as Exhibit A-1 to A-14. 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.16.00 Lacs (Rs.4.00 Lacs in C.C. Limit and Rs.12.00 Lacs in Term Loan) and on 21.05.2022, a sum of Rs.45,06,378/- was due. 6. Accordingly, the application of the bank for the recovery of Rs.45,06,378/- (Rupees Forty Five Lacs Six Thousand Three Hundred Seventy Eight Only) with interest @10.75% per annum with half-yearly rests from 01.06.2022, till the date of payment is hereby allowed with costs. The liability of both 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 01.09.2025, who is directed to distribute the sale proceeds of the mortgaged land and standing crops as per the provisions of Section 19(20AB) of the Act .

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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: 24.07.2025 Presiding Officer DRT-1, Chandigarh MANOJ KALRA

Punjab National Bank v. Buta Singh

Case brief

What is this about?

What did the court decide?

Punjab National Bank v. Buta Singh

Case brief

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