Allowed

Punjab National Bank v. Sh. Mahinder Singh

DRT4 Sept 2025OA/1440/2023

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the applicant bank's application under Section 19 of the RDB Act for recovery of Rs. 39,10,814.10 plus interest against respondents who failed to repay a loan. The court directed issuance of a Recovery Certificate and appearance before the Recovery Officer for distribution of sale proceeds.

What did the court decide?

Recovery of Rs. 39,10,814.10 plus interest allowed; Recovery Certificate issued; parties directed to appear before Recovery Officer.

Punjab National Bank versus Sh. Mahinder 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: 1440/2023 Date of Institution: 01.08.2023 Date of Decision: 04.09.2025

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Punjab National Bank having its branches all over India and a branch at Aliwal, Tehsil & District Gurdaspur, Punjab.

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……..Applicant

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Sh. Mahinder Singh s/o Sh. Dalip Singh, r/o Village Bishniwal, Aliwal, Gurdaspur, Punjab.

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Sh. Amarpal Singh s/o Sh. Mahinder Singh, r/o Village Bishniwal, Aliwal, Gurdaspur, Punjab.

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……….Defendants

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Advocates

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Sh. Manish Singla, Counsel for the applicant bank. Defendants - ex parte vide order dated 19.09.2024 .

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OA for the Recovery of Rs.39,10,814.10p with interest @11.50% per annum with half-yearly rests from 01.08.2023.

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ORDER

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Punjab National Bank has filed this application under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993 (RDB Act) for the recovery of Rs.39,10,814.10p with interest against Sh. Mahinder Singh and another (defendants).

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Bank’s case is that on 30.03.2016, it had granted a loan of Rs.20.00 Lacs to defendant Nos. 1 & 2 in the form of K.C.C Limit for agricultural purpose. To secure the loan, Defendant No.1 had mortgaged his agricultural land (fully detailed in para No.3A of the application). The loan was chargeable to interest @11.50% per annum with half-yearly rests. On 30.03.2023, a sum of Rs.39,10,814.10p was due from the defendants. The defendants had duly acknowledged their liability towards the debt on 12.03.2019 & 03.03.2021. Despite repeated requests, defendants did not make the repayment. Hence, this application.

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On 11.09.2023, summonses were sent to the defendants by registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 19.09.2024, they were proceeded ex parte . 4. In order to prove its case, the Bank has placed on record the affidavit of Sh. Baljinder Singh, Manager along with the loan and security documents and marked them as Exhibit A-1 to A-9. 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 30.03.2023, a sum of Rs.39,10,814.10p was due. 6. Accordingly, the application of the bank for the recovery of Rs.39,10,814.10p (Rupees Thirty Nine Lacs Ten Thousand Eight Hundred Fourteen and Paise Ten Only) with interest @11.50% per annum with half-yearly rests from 01.08.2023, till the date of payment is hereby allowed with costs. The liability of both 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. 7. Pending IAs, if any, stand disposed of. 8. Recovery Certificate be issued accordingly. 9. Parties are directed to appear before Recovery Officer on 14.10.2025, 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: 04.09.2025 Presiding Officer DRT-1, Chandigarh

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MANOJ KALRA

Punjab National Bank v. Sh. Mahinder Singh

Case brief

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Punjab National Bank v. Sh. Mahinder Singh

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