Punjab National Bank having its branches all over India and a branch at Talwandi Rai Dadu, Tehsil Ajnala, District Amritsar, Punjab. ……..Applicant Vs. Sh. Surinder Singh s/o Sh. Labh Singh, H No 167, VPO Dalla Rajputa, Tehsil Ajnala, District Amritsar, Punjab. 2nd Address: Village Bhutanpura, P.O. Jagdev Khurd, Tehsil Ajnala, District Amritsar, Punjab. ……….Defendant Advocates Sh. Rajesh Gupta, Counsel for the applicant bank. Defendant- ex parte vide order dated 16.03.2023 . OA for the Recovery of Rs.31,83,143.73p with interest @8.75% per annum with half-yearly rests from 01.06.2022. ORDER 1. 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.31,83,143.73p with interest against Sh. Surinder Singh (defendant). 2. Bank’s case is that on 29.08.2013, it had granted a loan of Rs.20.00 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 @8.75% per annum with half-yearly rests. On 31.03.2022, a sum of Rs.31,83,143.73p was due from the defendant. Despite repeated requests, defendant did not make the repayment. Hence, this application.
