Allowed

Punjab National Bank v. Sh. Gurmail Singh @ Gurmel Singh

DRT20 Mar 2025OA/1317/2022

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed the applicant bank's application under Section 19 of the RDB Act for recovery of Rs.1,36,34,532.15p owed by the respondents. The court decreed the recovery with interest and directed the sale of mortgaged land to satisfy the debt.

What did the court decide?

Recovery of Rs.1,36,34,532.15p with interest @7.75% per annum; issuance of Recovery Certificate; sale of mortgaged land.

Punjab National Bank versus Sh. Gurmail Singh @… — Contract and Commercial Disputes | 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: 1317 of 2022 Date of Institution: 27.06.2022 Date of Decision: 20.03.2025

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Punjab National Bank (erstwhile Oriental Bank of Commerce) having its branches all over India and a branch at Circle Sastra Centre Civil Lines, Jalandhar, Punjab.

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……..Applicant

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Vs.

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Sh. Gurmail Singh @ Gurmel Singh s/o Sh. Darshan Singh r/o Village Dhadda Haripur, PO Daualtpur Dhadda, Tehsil Nakodar District Jalandhar, Punjab.

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Sh. Darshan Singh s/o Sh. Dalipa r/o Village Dhadda Haripur, PO Daualtpur Dhadda, Tehsil Nakodar District Jalandhar, Punjab.

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……….Defendants

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Advocates

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Ms. Sonal, proxy Counsel for Ms. Rajni Narula, Counsel for the applicant bank.

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Defendants - ex parte .

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OA for the Recovery of Rs.1,36,34,532.15p with interest @7.75% per annum with half-yearly rests from 27.06.2022.

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ORDER

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Punjab National Bank (Bank) has filed this application under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993 (RDB Act) for the recovery of Rs.1,36,34,532.15p with interest against Sh. Gurmail Singh and another (defendants).

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Bank’s case is that on 31.03.2011, it had granted a KCC Limit of Rs.90.00 Lacs to Defendants in the form of O.G.C. Limit which was renewed from time to time and last renewed on 10.09.2019, for agricultural purpose. To secure the loan, Defendant no. 2 had mortgaged his agricultural land (fully detailed in para No.3A of the application). The

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loan was chargeable to interest @7.75% per annum with half-yearly rests. On 15.06.2022, a sum of Rs.1,36,34,532.15p was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.

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On 25.07.2022, summonses were sent to the defendants by registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 17.01.2024, they were proceeded ex parte .

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In order to prove its case, the Bank has placed on record the affidavit of Mr. Gurpreet Singh, Manager along with the loan and security documents and marked them as Exhibit A-1 to A-10.

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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.90.00 Lacs and on 15.06.2022, a sum of Rs.1,36,34,532.15p was due.

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Accordingly, the application of the bank for the recovery of Rs.1,36,34,532.15p (Rupees One Crore Thirty Six Lacs Thirty Four Thousand Five Hundred Thirty Two and Fifteen Paise Only) with interest @7.75% per annum with half-yearly rests from 27.06.6022, till the date of payment is hereby allowed with costs. The liability of all the defendants would be joint and several. Bank can recover its dues by the sale of mortgaged agricultural land fully detailed in para No.3A of the application as well as from the personal movable and immovable property(ies) of the defendants.

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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

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21.04.2025, who is directed to distribute the sale proceeds of the

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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. Sh. Gurmail Singh @ Gurmel Singh

Case brief

What is this about?

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Punjab National Bank v. Sh. Gurmail Singh @ Gurmel Singh

Case brief

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What did the court decide?

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