Allowed

Punjab Gramin Bank v. Sh. Bikramjit Singh and Others

DRT15 May 2025OA/118/2022

Case brief

AI extract

What is this about?

The Debt Recovery Tribunal allowed an application by Punjab Gramin Bank for recovery of dues. The court decreed a sum of Rs. 22,17,155 plus costs and adjusted interest at 8% p.a. over the outstanding loan, permitting execution against mortgaged and personal assets.

What did the court decide?

Order for recovery of Rs. 22,17,155 with costs and simple interest at 8% p.a. from date of filing till realization. Recovery via sale of mortgaged or personal assets.

Punjab Gramin Bank versus Sh. Bikramjit Singh and Others — Banking and Recovery | DRT (2025)

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DEBTS RECOVERY TRIBUNAL-III, CHANDIGARH

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ORIGINAL APPLICATION NO.118/2022

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PRESIDED OVER BYMRIDULESH KUMAR SINGH

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DATE OF INSTITUTION: 12.11.2021

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DATE OF DECISION: 15.05.2025

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Punjab Gramin Bank, a body corporate constituted under the provisions of the Regional Rural Bank Act 1976 (Act No. 21 of 1976) having its Head Office at Jalandhar Road, Kapurthala (Pb) and having its branches at different places including one at Bhikhiwind, Distt Tarn Taran (Pb) through its Constituted Attorney/Manager Sh. Gurpeet Singh Randhawa.

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……..Applicant

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Versus

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Sh. Bikramjit Singh s/o Sh. Sucha Singh, resident of Back Side Sr. Secondary School (Boys), Patti Road Bhikhiwind, Tehsil, Distt. Tarn Taran (Pb)-143412

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Sh. Sucha Singh (since deceased through LRs) s/o Sh. Gehal Singh:

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2(a) Sh. Bikramjit Singh s/o Sh. Sucha Singh (deceased borrower) resident of Back Side Sr. Secondary School (Boys), Patti Road Bhikhiwind, Tehsil Patti, Distt Tarn Taran (Pb- 143412) 2(b) Sh. Jarnail Singh (Since deceased through LRs s/o Sh. Sucha Singh, (deceased borrower)

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2(b) (a) Smt. Rajdalbir Kaur, w/o Late Sh. Jarnail Singh s/o Late Sh. Sucha Singh (deceased borrower) resident of Village Dalari, Tehsil Patti, Distt Tarn Taran (Pb)-143412

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2 (b) (b) Sh. Navjot Singh, s/o Late Sh. Jarnail Singh s/o Late Sh. Sucha Singh (deceased borrower) resident of Village Dalari, Tehsil Patti, Distt Tarn Taran (Pb)-143412

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2(b) (c) Sh. Shamsher Pal Singh, s/o Late Sh. Jarnail Singh s/o Late Sh. Sucha Singh (deceased borrower) resident of Village Dalari, Tehsil Patti, Distt Tarn Taran (Pb)-143412

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….……Defendants

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Advocates:

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Argued by Sh. Bhushan Bhatia, Advocate for Applicant (through VC) Defendants are ex parte

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2 OA NO.118/2022 PUNJAB GRAMIN BANK VS BIKRAMJIT SINGH AND OTHERS

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FINAL ORDER

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Present Original Application was instituted by the applicant under Section 19 of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993, against the defendant for recovery of Rs.22,17,155.00 (Rupees Twenty Two Lakh Seventeen Thousand One Hundred & Fifty Five Only). The Original Application has been filed through Sh. Gurpeet Singh Randhawa, Manager o f the applicant, who is competent to institute the Original Application vide General Power of Attorney dated 09.01.2017, which is Annexure A1 to this OA.

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The brief facts of the OA that the defendant nos.1 and 2 (since deceased) had approached the applicant for the grant of KCC Limit of Rs.13.46 Lacs vide Loan Application dated 20.12.2013, which are Annexures A2 to this OA.

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The applicant sanctioned the KCC Limit of Rs.13.46 Lacs vide Sanction dated 20.12.2013 which is Annexure A3 to this OA and the terms and conditions were duly accepted by the defendants.

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Defendant no.2(since deceased) had mortgaged his immovable properties i.e. total land measuring 23Kanal-08Marla situated at Village Bhikhiwadi, Distt. Tarn Taran vide Mortgage Deed bearing vasika no.1769 dated 23.12.2013 with its translation, which is Annexure A5 to his OA.

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Documents executed Loan Agreement dated 30.12.2013, which is Annexure A4 to this OA; Notice dated 08.06.2021, which is Annexure A6 to this OA; BC Letters dated 29.12.2015, 15.09.2018 and 21.08.2021, which are Annexures A7, A8 and A9 to this OA; Statement of Account with certificate, which is Annexure A10 to this OA; Death Certificates dated 27.07.2019 and 22.12.2019, which is Annexure A11 and A11/1 to this OA.

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The loan account became irregular and was classified as NPA and after adjusting debit and credit entries in the loan account there was a debit of Rs.13.46 Lacs, which is recoverable and the defendants were served recall notices but he did not repay the outstanding amount,

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3 OA NO.118/2022 PUNJAB GRAMIN BANK VS BIKRAMJIT SINGH AND OTHERS

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therefore, the applicant bank requested to accept the application and to
issue Recovery Certificate accordingly.
6. The defendant nos.1, legal heirs of deceased defendant nos.2 and
2(b) were served notices to appear before this Tribunal but no one
appeared on behalf of defendants and he was proceeded ex-parte on
02.04.2025

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In support of the OA, affidavit of Sh. Gurpeet Singh Randhawa, Manager, Punjab Gramin Bank has been filed. 8. Heard arguments and perused record 9. It was argued by learned counsel through video conferencing that in view of the documentary evidence brought on record which had gone unrebutted, the applicant had proved its case. From the perusal of all the Annexures A1 to A11 and A11/1 to this OA, it is proved that the defendant no.1 and 2 approached applicant for availing of the loan facilities which were granted to them and for that they had executed all the relevant documents in favour of the applicant. The defendants failed to pay back the loans as per terms and conditions of the agreement between the parties. Subsequently, account of the defendants was classified as NPA. From the documentary evidence brought on record, it is proved that applicant is entitled to recover a sum of Rs.22,17,155 (Rupees Twenty Two Lakh Seventeen Thousand One Hundred & Fifty Only) along with interest from the defendant nos.1, legal heirs of deceased defendant nos.2 and 2(b), jointly and severally from the date of filing of the present Original Application till realization of the accounts. 10. In so far as pendent lite and future rate of interest is concerned, the applicant in relief clause has claimed interest @13.50%p.a. with half yearly rests from 19.10.2021 till the realization. The Tribunal is of the considered opinion that sometimes in appropriate cases the prerogative of mercy is the brightest jewel in the crown of the Judge. Keeping in view the facts and circumstances of the instant case including nature of the mortgaged property, undertaking of the defendant, quantum of loan and prevalent market rates of interest

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4 OA NO.118/2022 PUNJAB GRAMIN BANK VS BIKRAMJIT SINGH AND OTHERS

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which have gone drastically downhill in yester years, while exercising the discretion vested in this Tribunal, this Tribunal deems it just and appropriate to grant uniform simple interest @08.00%p.a. in the loan account from the date of filing of the OA till realization of the amount ordered vide this final order. It is ordered accordingly.

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In the result, the application is allowed declaring that the defendant no.1, legal heirs of deceased defendant nos.2 and 2(b) are liable to pay to the applicant a total sum of Rs.22,17,155 (Rupees Twenty Two Lakh Seventeen Thousand One Hundred & Fifty Only) with costs, current and future simple interest @08.00%p.a. in the loan account from the date of filing of OA till the date of realization of the amount. Accordingly, the applicant shall be entitled to recover aforesaid amount from the sale of hypothecated/mortgaged properties of the defendant no.1 in execution proceedings if not sold earlier under the provisions of the SARFAESI Act, 2002. If the dues of the still remain unsatisfied, it shall be entitled to recover the same by attachment and sale of personal assets of the defendant nos.1, legal heirs of deceased defendant nos.2 and 2(b). The applicant is at liberty to enforce the claim through due process of law.

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Any other application pending stands disposed of . 13. Issue Recovery Certificate accordingly. 14. Parties to appear before Learned Recovery Officer of this Tribunal on 30.05.2025. 15. Copy of this order be given Dasti to the applicant and be sent to defendant through registered/speed post and this order be also uploaded on the official website of this Tribunal and record be consigned. Pronounced by me in the open Tribunal .

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Dated: 15.05.2025

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(MRIDULESH KUMAR SINGH) Presiding Officer, DRT-III, Chandigarh

Punjab Gramin Bank v. Sh. Bikramjit Singh and Others

Case brief

What is this about?

What did the court decide?

Punjab Gramin Bank v. Sh. Bikramjit Singh and Others

Case brief

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What did the court decide?

What the court decided

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