Application for recovery certificate under RDB Act allowed with reduced interest of 6% p.a.; recovery proceedings against joint and several personal liabilities permitted.
Recovery certificate allowed for principal sum with reduced interest @6% p.a. from date of filing; executable against property and personal liabilities.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
IN THE DEBTS RECOVERY TRIBUNAL II, KARNATAKA AT BENGALURU
Dated this 21st Day of October, 2025
Present: Sri. T. RAJESH Presiding Officer
OA.No.1445/2023
BETWEEN:
Punjab National Bank Head Office at: Plot No.4, Sector 10, Dwaraka, New Delhi – 110 075
Branch Office at: No.39535/1b, Takked Building, Club Road, Belgaum, Karnataka – 591 153
Represented by its Senior Manager and GPA Holder, Sri. Sanjeev Vithal Deshpande …APPLICANT
AND:
Residing at: H/No. 1 to 33, Agasi Colony, Village Dematti, Bailhongal Taluk, Belgaum District
Residing at: H/No. 1 to 33, Agasi Colony, Village Dematti, Bailhongal Taluk, Belgaum District
OA-1445/2023
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3. Sri Yusuf Gafarsab Shilledar, S/o. Gafarsab Apparsab Shilledar, Aged about 44 Years,
Residing at: H/No. 1 to 33, Agasi Colony, Village Dematti, Bailhongal Taluk, Belgaum District ...DEFENDANTS
Counsel on record/appeared for:
Applicant : S R Narayanappa Defendants : Ex parte
FINAL ORDER
following credit facilities:
OA-1445/2023
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appear, resulting the defendants being set ex parte on 05.08.2024.
OA-1445/2023
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claim as against the defendants?
ii) What order are to be passed?
Both these issues are gone into and decided together.
find both these issues are in favour of applicant and hence, this Tribunal is of the view that OA is to be allowed.
availed for Agricultural purpose and also that the OA claim is arrived at by calculating interest at the agreed rate, this Tribunal is the view that the OA can be allowed with a reduced interest of 6.00% (simple).
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i) The applicant is allowed to recover an aggregate sum of
Rs. 20,60,782.73/- (Rupees Twenty Lakhs Sixty Thousand Seven
Hundred and Eighty Two and Paisa Seventy Three Only)with further interest @6.00 % p.a.(simple) from the date of filing OA till the realization, from the defendants jointly, severally and personally, after giving credit to all the amounts recovered and received during the pendency of the OA and allowed the same to be recovered by proceeding against schedule property. Properties schedule to the OA be the schedule to the recovery certificate.
ii) If the sale proceeds are not found sufficient to cover the
amount due and payable to the applicant bank, the defendants jointly, severally and personally and their assets are liable for balance amounts due under the loan accounts.
iii) The applicant bank is allowed cost of the proceedings
which applicant to file cost memo within 7 days from the date of receipt of the order.
iv) The Recovery Certificate to be drawn in terms of this order and transferred to Recovery for execution.
v) Interim application pending, if any, stands disposed of in terms of this final order.
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14. Communicate a copy of the order to the parties concerned in
terms of Section 19(21)(i) of the RDB Act, read with Rule 16 of DRT
(Procedure) Rules, 1993.
[Dictated to the Stenographer (HS), transcribed by her, corrected and signed and pronounced by me in the Open Court, this the 21st Day of October, 2025].
Sd/-
(T. RAJESH) PRESIDING OFFICER
ANNEXURES
WITNESSES EXAMINED FOR THE APPLICANT BANK:
AW-1: Vaidyam Nagaraju, S/o. Sri V Srinivasa Rao, working as Senior Manager, of Applicant Bank.
Exhibits on the part of the Applicant:
| Exhibit | Particulars of Documents |
|---|---|
| Nos. | |
| A3 | Application form for agricultural credit dated 12.09.2011 from the 1stdefendant |
| A4 | Application form –cum- process note for OGC facility dated 12.09.2011 from the defendant |
| A5 | Letter of sanction dated 15.09.2011 of crop loan of Rs. 1.00 lakhs by the bank duly acknowledged by the defendants |
| A6 | Letter of sanction dated 15.09.2011 of term loan of Rs. 6.50 lakhs by the bank duly acknowledged by the defendants |
| A7 | Agreement for hypothecation of livestock existing and future crops to secure a loan amount dated 16.09.2011 for a sum of Rs. 6.50 lakhs in favour of the bank |
| A8 | Agreement for hypothecation of livestock existing and future crops to secure a loan amount dated 16.09.2011 for a sum of Rs. 6.50 lakhs by the borrowers |
OA-1445/2023
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| A9 | Agreement of tem loan dated 16.09.2011 for a sum of Rs. 6.50 lakhs executed by the 1stand 2nddefendant |
|---|---|
| A10 | Agreement of guarantee dated 16.09.2011 for sum of Rs. 7.50 lakhs in favour of the bank by the 3rddefendant |
| A11 | Common agreement dated 16.09.2011 executed by the 1st& 2nd defendant |
| A12 | Deed of mortgage of agricultural land dated 15.09.2011 executed by the defendants no.1 & 2 in favour of the bank |
| A13 | Recall notice dated 24.03.2023 |
| A14 | Accounts extract no. 09125111001119 |
| A15 | Accounts extract no. 09127511000914 |
Witness Examined for the Defendants: -Nil - List of Documents Exhibited for the Defendants: -Nil -
Sd/-
(T. RAJESH) PRESIDING OFFICER
2 issues framed by the court
Whether the applicant had succeeded in proving the OA claim as against the defendants?
What order are to be passed?
2 provisions across 1 enactments
Punjab National Bank
Sri. Waseemraj Gafarsab Shilledar
Sri. Gafarsab Appasab Shilledar
Sri Yusuf Gafarsab Shilledar
T. RAJESH
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
