Allowed

Bank of India v. Sh Partap Singh

DRT29 Apr 2025OA/1164/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the bank's application for recovery of outstanding dues and interest against the primary borrower and deceased guarantor's legal heirs, issuing a Recovery Certificate and directing sale of mortgaged property.

What did the court decide?

The application was allowed with costs and a Recovery Certificate was issued. Directives were issued for the sale of mortgaged land and distribution of proceeds.

Bank of India versus Sh Partap Singh — Banking and Recovery | 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: 1164/2022

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Date of Institution: 06.06.2022 Date of Decision: 29.04.2025

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Bank of India having its branches all over India and a branch at Opposite Sanjeev Cinema, G.T. Road, Fazilka, Tehsil and District Fazilka, Punjab.

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……..Applicant

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Vs.

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Sh. Partap Singh s/o Sh. Balwinder Singh, r/o Village Banna Wala, PO Pakkan, Tehsil & District Fazilka, Punjab.

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Sh. Jagdish Kumar s/o Sh. Thakar Dass since deceased represented through following legal heirs: 2.1 Tinku Batra (son)

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2.2 Prince Batra (son)

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2.3 Pankaj Batra (son)

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2.4 Sanjeev Kumar Batra (son)

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All r/o Village Arniwala Sheikh Suban, District Fazilka, Punjab.

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……….Defendants

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Advocates

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Ms. Pankaj Beri, Counsel for the applicant bank. Defendants- ex parte vide order dated 11.07.2024 .

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OA for the Recovery of Rs.29,40,202.52p with interest @13.15% per annum with half-yearly rests from 06.06.2022.

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ORDER

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Bank of India, (Bank) has filed this application under Section 19 of

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the Recovery of Debts and Bankruptcy Act, 1993 (RDB Act) for the recovery of Rs.29,40,202.52p with interest against Sh. Partap Singh and other (defendants).

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Bank’s case is that on 06.05.2016, it had granted a loan of Rs.7.00 Lacs in the form of K.C.C. Limit and a loan of Rs.8.00 Lacs besides mortgage OD Limit to defendant No.1 for agricultural purpose. To secure

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2 the loan, Defendant No.1 had mortgaged his land (fully detailed in para
No.3A of the application). Defendant No.2 stood as guarantor. The loans were chargeable to different rates of interest. On 26.05.2022, a sum of
Rs.29,40,202.52p was due from the defendants. Despite repeated requests,
defendants did not make the repayment. Hence, this application.
3. On 29.06.2022, summonses were sent to the defendants by
registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 11.07.2024, they were proceeded_ex parte_.
4. In order to prove its case, the Bank has placed on record the affidavit of Sh. Ved Prakash, Authorized Officer along with the loan and security documents and marked them as Exhibit A-1 to A-18.
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 loans of Rs.15.00 Lacs and on 26.05.2022, a sum of Rs.29,40,202.52p was due.
6. Accordingly, the application of the bank for the recovery of
Rs.29,40,202.52p (Rupees Twenty Nine Lacs Forty Thousand Two
Hundred Two and Fifty Two Paise Only) with interest @13.15% per annum with half-yearly rests from 06.06.2022, till the date of payment is hereby allowed with costs.The liability of LRs of defendant no. 2 is to pay
to the extent of property inherited by them from Sh. Jagdish
Kumar(defendant no.2) (now deceased). Bank can recover its dues by the
sale of mortgaged land fully detailed in para No. 3A of the applicationas well as from the personal movable and immovable property(ies) of the defendant No.1.
7. Pending IAs, if any, stand disposed of.
8. Recovery Certificate be issued accordingly.

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Parties are directed to appear before Recovery Officer on 01.07.2025, 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 . 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: 29.04.2025 Presiding Officer DRT-1, Chandigarh MANOJ KALRA

Bank of India v. Sh Partap Singh

Case brief

What is this about?

What did the court decide?

Bank of India v. Sh Partap Singh

Case brief

What is this about?

What did the court decide?

What the court decided

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