Allowed

Punjab National Bank v. Balam Singh

DRT24 Jul 2025OA/1179/2022

Case brief

AI extract

What is this about?

The applicant bank approached the Tribunal for recovery of Rs. 28,93,368/- plus interest against the respondent for a defaulted agricultural loan. The court found the evidence sufficient, allowed the application, directed issuance of a recovery certificate, and ordered the sale of the mortgaged land to satisfy the dues.

What did the court decide?

Allowance of application for recovery of Rs.28,93,368/- along with interest; direction to issue Recovery Certificate and order sale of mortgaged property.

Punjab National Bank versus Balam Singh — Execution and Attachment | 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: 1179/2022 Date of Institution: 04.06.2022 Date of Decision: 24.07.2025

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Punjab National Bank having its branches all over India and a branch at Qadian Road, Batala, Tehsil Batala, District Gurdaspur, Punjab.

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……..Applicant

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Vs.

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Balam Singh s/o Sh. Puran Singh, r/o Village Bharath, Tehsil Batala, District Gurdaspur, Punjab.

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……….Defendant

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Advocates

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Sh. Ankit Kaushal, Counsel for the applicant bank. Defendant- ex parte vide order dated 03.11.2023 .

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OA for the Recovery of Rs.28,93,368/- with interest @11.25% per annum with yearly rests from 04.06.2022.

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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.28,93,368/- with interest against Sh. Balam Singh (defendant).

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Bank’s case is that on 24.08.2015, it had granted a loan of Rs.15.00 Lacs to the 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 @11.25% per annum with yearly rests. On 28.02.2022, a sum of Rs.28,93,368/- was due from the defendant. Despite repeated requests, defendant did not make the repayment. Hence, this application.

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On 30.06.2022, summons was sent to the defendant by registered post, which was duly served. However, defendant did not put in appearance. Vide order dated 03.11.2023, he was 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.28,93,368/- was due. 6. Accordingly, the application of the bank for the recovery of Rs.28,93,368/- (Rupees Twenty Eight Lacs Ninety Three Thousand Three Hundred Sixty Eight Only) with interest @11.25% per annum with yearly rests from 04.06.2022, till the date of payment is hereby allowed with costs. 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 defendant.

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Pending IAs, if any, stand disposed of. 8. Recovery Certificate be issued accordingly. 9. Party is 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(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 party.

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Pronounced in the open Court.	(A S Narang)
Dated: 24.07.2025	Presiding Officer
MANOJ KALRA	DRT-1, Chandigarh

Punjab National Bank v. Balam Singh

Case brief

What is this about?

What did the court decide?

Punjab National Bank v. Balam Singh

Case brief

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What did the court decide?

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