Allowed

Punjab National Bank v. Shri Gurdas Singh (Deceased)

DRT20 Mar 2025OA/121/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the bank's application for recovery of Rs. 29.55 Lacs with interest against the legal heirs of a deceased borrower. The court ordered the sale of the mortgaged land and standing crops to distribute proceeds.

What did the court decide?

Recovery of Rs. 29,55,013.39 with interest ordered by sale of mortgaged land and standing crops; Recovery Certificate issued.

Punjab National Bank versus Shri Gurdas Singh (Deceased) — 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: 121/2022

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Date of Institution: 15.01.2022 Date of Decision: 20.03.2025

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Punjab National Bank having its branches all over India and a branch at Village Chak Raldu Singh Wala, Bathinda, Punjab.

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……..Applicant

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1. Sh. Gurdas Singh s/o Sh. Gurdial Singh r/o Village Chak Raldu Wala, Bathinda, Punjab now deceased through his Legal Heirs: 1(i) Smt. Paramjeet Kaur w/o Late Sh. Gurdas Singh, r/o Village Chak Raldu Singh Wala, Bathinda, Punjab. 1(ii) Khushwinder Singh s/o Sh. Late Gurdas Singh, r/o Village Chak Raldu Singh Wala, Bathinda, Punjab.

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1. Sh. Joginder Singh S/o Sh. Sher Singh, r/o Village Chak Raldu Singh Wala, Bathinda, Punjab. (Party deleted vide order dated 09.12.2022) ……….Defendants

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Advocates Mr. Rehan Chaudhary, proxy Counsel for Mr. Krishan Kumar, Counsel for the applicant bank. Defendants- ex parte . OA for the Recovery of Rs.29,55,013.39p with interest @12.25% per annum with half-yearly rests from 15.01.2022. ORDER 1. PNB (Bank) has filed this application under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993 (RDB Act) for the recovery of Rs.29,55,013.39p with interest against Sh. Gurdas Singh now deceased through his Legal Heirs (defendants). 2. Bank’s case is that on 13.12.2005, it had granted a loan of Rs.5.00 Lacs to Defendant No.1 (now deceased), which was further enhanced to

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2 Rs.20.00 Lacs on 07.04.2015, in the form of K.C.C Limit for agricultural
purpose. To secure the loan, Defendant No.1 (now deceased) had
mortgaged his land (fully detailed in para No.5x. of the application). The
loan was chargeable to interest @12.25% per annum with half-yearly
rests. On 20.12.2021, a sum of Rs.29,55,013.39p was due from the
defendants. Despite repeated requests, defendants did not make the
repayment. Hence, this application.
2(a) Counsel for the applicant bank has filed an IA No.933/2022 for
deleting the name of defendant No.2 from the array of parties on the
ground that no document has been executed by defendant No.2 after enhancement of limit on 07.04.2015. Vide order dated 09.12.2022 the name of defendant No.2 was deleted from the array of parties.
3. On 22.04.2022, summonses were sent to the defendants by
registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 13.02.2024, they were proceeded_ex_
parte.
4. In order to prove its case, the Bank has placed on record the
affidavit of Mr. Naveen Sachdeva, Chief 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 loan of
Rs.20.00 Lacs and on 20.12.2021, a sum of Rs.29,55,013.39p was due.
6. Accordingly, the application of the bank for the recovery of
Rs.29,55,013.39p (Rupees Twenty Nine Lacs Fifty Five Thousand
Thirteen and Thirty Nine Paise Only) with interest @12.25% per annum with half-yearly rests from 15.01.2022, till the date of payment is hereby

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3 allowed with costs against the LRs of defendant No.1 only. Bank can recover its dues by the sale of mortgaged land fully detailed in para No.5(x) of the application. The Legal Heirs of Defendant No.1 would be liable to pay to the extent of the property inherited by them from Sh. Gurdas Singh (now deceased). 7. Pending IAs, if any, stand disposed of. 8. Recovery Certificate be issued accordingly. 9. Parties are directed to appear before Recovery Officer on 21.04.2025, 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: 20.03.2025 Presiding Officer DRT-1, Chandigarh

Punjab National Bank v. Shri Gurdas Singh (Deceased)

Case brief

What is this about?

What did the court decide?

Punjab National Bank v. Shri Gurdas Singh (Deceased)

Case brief

What is this about?

What did the court decide?

What the court decided

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