Allowed

State Bank of India v. Nar Singh

DRT18 Jul 2025OA/1337/2023

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed State Bank of India's recovery application for Rs.23,93,354/- with interest against Nar Singh regarding agricultural loans secured by a land mortgage. The respondent failed to appear, and the tribunal permitted recovery via sale of mortgaged land and other properties.

What did the court decide?

Recovery of Rs.23,93,354/- with interest from 29.10.2022 allowed. Recovery certificate issued. Direction to sale proceeds to be distributed.

State Bank of India versus Nar Singh — 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: 1337/2023 Date of Institution:29.10.2022 Date of Decision: 18.07.2025

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SBI having its branches all over India and a branch at Sadiq, Tehsil and District Faridkot, Punjab, through its branch Stressed Assets Recovery Branch (SARB), Admin Office Building, 3^rd Floor, Civil Lines, Fountain Chowk, Ludhiana, Punjab.

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……..Applicant Vs.

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Nar Singh s/o Sh. Santokh Singh, r/o Village Marharh, Tehsil and District Faridkot, Punjab.

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……….Defendant

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Advocates Sh. Ajay Singla, Counsel for the applicant bank. Defendant- ex parte vide order dated 03.09.2024 .

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OA for the Recovery of Rs.23,93,354/- with interest from 29.10.2022.

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ORDER

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SBI has filed this application under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993 (RDB Act) for the recovery of Rs.23,93,354/- with interest against Sh. Nar Singh (defendant).

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Bank’s case is that on 16.02.2016, it had granted a K.C.C. Limit of Rs.15.00 Lacs and on 30.09.2016, a Term Loan of Rs.9.00 Lacs to Defendant for agricultural purpose. To secure the loan, Defendant had mortgaged his land (fully detailed in para No.3A of the application). The loans were chargeable to interest @11.15% per annum in K.C.C. Limit and @10.50% per annum in Term Loan with half-yearly rests. On 20.10.2022, a sum of Rs.23,93,354/- was due from the defendant. Despite repeated requests, defendant did not make the repayment. Hence, this application.

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On 21.08.2023, summons was sent to the defendant by registered post, which was duly served. However, defendant did not put in appearance. Vide order dated 03.09.2024, he was proceeded ex parte .

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In order to prove its case, the Bank has placed on record the affidavit of Sh. Chanchal Singh, Chief Manager along with the loan and security documents and marked them as Exhibit A-1 to A-21. 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 total loan of Rs.24.00 Lacs (Rs.15.00 Lacs in K.C.C. Limit and Rs.9.00 Lacs in Term Loan) and on 20.10.2022, a sum of Rs.23,93,354/- was due. 6. Accordingly, the application of the bank for the recovery of Rs.23,93,354/- (Rupees Twenty Three Lacs Ninety Three Thousand Three Hundred Fifty Four Only) i.e. Rs.17,47,204/- in K.C.C. Limit @11.15% per annum with half yearly rests and Rs.6,46,150/- in Term Loan with interest @10.50% per annum with half-yearly rests from 29.10.2022, 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. 7. Pending IAs, if any, stand disposed of. 8. Recovery Certificate be issued accordingly. 9. Party is directed to appear before Recovery Officer on 26.08.2025, 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. Pronounced in the open Court. (A S Narang) Dated: 18.07.2025 Presiding Officer DRT-1, Chandigarh MANOJ KALRA

State Bank of India v. Nar Singh

Case brief

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What did the court decide?

State Bank of India v. Nar Singh

Case brief

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What did the court decide?

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