Allowed

Punjab National Bank v. Sh. Balwinder Singh

DRT20 Nov 2025OA/1310/2025

Case brief

AI extract

What is this about?

In an ex-parte Original Application, the Tribunal allowed Punjab National Bank's claim for recovery of a defaulting debtor. The Tribunal modified the claimed interest rate to 8% p.a. and authorized recovery via mortgaged assets or attachment of personal property.

What did the court decide?

Recovered Rs.32,31,882.64 with interest at 8% p.a. from OA filing; directed enforcement against mortgaged property or personal assets.

Punjab National Bank versus Sh. Balwinder Singh — Execution and Attachment | DRT (2025)

¶1

DEBTS RECOVERY TRIBUNAL-III, CHANDIGARH

¶2

ORIGINAL APPLICATION NO.1310/2025

¶3

PRESIDED OVER BY MRIDULESH KUMAR SINGH

¶4

DATE OF INSTITUTION: 25.08.2025

¶5

DATE OF DECISION: 20.11.2025

¶6

Punjab National Bank, a body corporate and a Nationalized Bank constituted under the provisions of the Banking Companies (Acquisition & Transfer of Undertaking) Act 5 of 1970, with its Head Office at Plot No.4, Sector 10, Dwarka, New Delhi 110075 and amongst others a branch at Deepanwali, District Kapurthala, Punjab through Sh. Shri Gulshan Meenia, son of Shri Joginder Ram, Manager and Attorney Holder.

¶7

……. Applicant Versus Shri Balwinder Singh son of Shri Dharam Singh, Resident of Village Sarupwal, Tehsil Sultanpur, District Kapurthala, Punjab.

¶8

……. Defendant Advocates:

¶9

Argued by Sh. Rahul Garg, Advocate proxy for Sh. Manish Singla, Advocate for Applicant

¶10

Defendant already ex-parte

¶11

FINAL ORDER

¶12

Present Original Application was instituted by the applicant under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993, against the defendant for recovery of Rs.32,31,882.64p (Rupees Thirty Two Lacs Thirty One Thousand Eight Hundred Eighty Two & Paise Sixty Four Only). The Original Application has been filed through Shri Gulshan Meenia, Branch Manager, of the applicant, who is competent to institute the Original Application vide Power of attorney dated 11.09.2023, which is Annexure A1 to this OA. 2. The brief facts of the OA are that the defendant had approached the applicant for grant of KCC Limit of Rs.11.00 Lacs vide loan application dated 02.12.2010, which is Annexure A2 to this OA.

¶13

2 OA NO. 1310/2025 PUNJAB NATIONAL BANK VS SH. BALWINDER SINGH

¶14

Thereafter, the defendant approached the applicant for term loan of Rs. 1.00 Lac for Debt Swap vide Loan application dated 30.03.2017. 3. The applicant sanctioned KCC Limit of Rs. 11.00 Lacs vide Memorandum for Sanction dated 02.12.2010, which is Annexure A3 to this OA. Thereafter, the applicant sanctioned Term Loan of Rs. 1.00 Lac for Debt Swap vide Loan application-cum-sanction dated 30.03.2017, which is Annexure A9 to this OA and terms and conditions were duly accepted by the defendant. 4. Defendant had mortgaged his immovable properties i.e. land measuring 51 Kanal 13 Marla detailed as under: -

¶15

(i) Agricultural land measuring 42 Kanal 10 Marla situated at Village Gudda, Tehsil Sultanpur Lodhi, District Kapurthala, Punjab;

¶16

(ii) Land measuring 9 Kanal 3 Marla situated at Village Sarupwal,
Tehsil Sultanpur Lodhi, District Kapurthala, Punjab;
vide mortgage deed bearing vasika no. 2448 dated 02.12.2010, along
with its translation, which isAnnexure A8to this OA.
Documents executed: -Hypothecation agreement, letter of
undertaking, letter of consent, declaration regarding agriculture land,
all dated 10.12.2010, which areAnnexures A4 to A7to this OA;
Hypothecation agreement dated 30.03.2017, which isAnnexure A10
to this OA; Balance Confirmation letter dated 10.10.2013, 10.06.2014,
07.12.2015, 03.12.2018, 02.12.2021, 28.11.2024, 29.01.2020,
25.01.2023, which isAnnexure A11to this OA; Recall notice dated
30.05.2024, which isAnnexure A12to this OA and Statement of
Accounts, which areAnnexures A13 & A14to this OA.
5. The loan accounts became irregular and were classified as NPA
and after adjusting debit and credit entries in loan accounts there was
a debit of Rs.32,31,882.64p, which is recoverable and the defendant
was served recall notice but he did not repay the outstanding amount,
therefore, the applicant requested to accept the application and to
issue Recovery Certificate accordingly.

¶17

3 OA NO. 1310/2025 PUNJAB NATIONAL BANK VS SH. BALWINDER SINGH

¶18

The defendant was served notices to appear before this Tribunal but no one appeared on behalf of defendant and he was proceeded exparte on 14.11.2025.

¶19

In support of the OA, affidavit of Shri Gulshan Meenia, Branch Manager, Punjab National Bank, has been filed. 8. Heard ex-parte arguments and perused record.

¶20

It was argued by learned proxy counsel 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 A14 to this OA, it is proved that the defendant approached applicant for availing of the loan facilities which were granted to him and for that he had executed all the relevant documents in favour of the bank. The defendant failed to pay back the loan as per terms and conditions of the agreement between the parties. Subsequently, accounts of the defendant were classified as NPA. From the documentary evidence brought on record, it is proved that applicant is entitled to recover a sum of Rs.32,31,882.64p (Rupees Thirty Two Lacs Thirty One Thousand Eight Hundred Eighty Two & Paise Sixty Four Only) along with interest from the defendant, from the date of filing of the present Original Application till realization of the accounts.

¶21

In so far as pendent elite and future rate of interest is concerned, the applicant in relief clause has claimed interest @12.25% p.a. inclusive of 2% penal interest in KCC & interest @13.15%p.a. inclusive of 2% penal interest in Debt swap with half yearly rests from 21.08.2025 till the realization.

¶22

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/hypothecated assets, undertaking of the defendant, quantum of loans and prevalent market rates of interest which have gone drastically downhill in yester years, while exercising the discretion vested in this Tribunal, this

¶23

4 OA NO. 1310/2025 PUNJAB NATIONAL BANK VS SH. BALWINDER SINGH

¶24

Tribunal deems it just and appropriate to grant uniform simple interest @08.00%p.a. in both the loan accounts from the date of filing of the OA till realization of the amount ordered vide this final order. It is ordered accordingly.

¶25

In the result, the application is allowed declaring that the defendant is liable to pay to the applicant a total sum of Rs.32,31,882.64p (Rupees Thirty Two Lacs Thirty One Thousand Eight Hundred Eighty Two & Paise Sixty Four Only) with costs, current and future simple interest @08.00%p.a. in both the loan accounts 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 mortgaged property/hypothecated assets of the defendant in execution proceedings if not sold earlier under the provisions of the SARFAESI Act, 2002. If the dues of the applicant still remain unsatisfied, it shall be entitled to recover the same by attachment and sale of personal assets of the defendant. The applicant is at liberty to enforce the claim through due process of law. 12. Any other application pending stands disposed of. 13. Issue Recovery Certificate accordingly. 14. Parties to appear before Learned Recovery Officer of this Tribunal on 02.12.2025. 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 . Dated: 20.11.2025. (MRIDULESH KUMAR SINGH) Presiding Officer, DRT-III, Chandigarh

Punjab National Bank v. Sh. Balwinder Singh

Case brief

What is this about?

What did the court decide?

Punjab National Bank v. Sh. Balwinder Singh

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

Coram

Case details

Similar cases

Kotak Mahindra Bank Limited versus Sh. Sukhwinder Singh and Another

Canara Bank versus Sh. Malkeet Singh and Another

Central Bank of India versus M/S Paras Traders and Others

Hdfc Bank Ltd. versus Sh. Ranjodh Singh and Others

Axis Bank Ltd. versus sh. Ekam Singh and Another

State Bank of India versus Sh. Paramjit Singh