Allowed

State Bank of India v. Sh. Anokh Singh

DRT25 Nov 2025OA/1476/2022

Case brief

AI extract

What is this about?

In an ex-parte Original Application under the RDB Act, 1993, the Debts Recovery Tribunal allowed the State Bank of India to recover Rs. 21,70,170 along with costs and uniform simple interest at 7% p.a. from the defendant, authorizing execution proceedings against mortgaged or personal assets.

What did the court decide?

Director to issue Recovery Certificate for Rs. 21,70,170 along with costs and 7% p.a. simple interest; claim recoverable via sale of mortgaged/personal assets.

State Bank of India versus Sh. Anokh Singh — Banking and Recovery | DRT (2025)

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DEBTS RECOVERY TRIBUNAL-III, CHANDIGARH

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ORIGINAL APPLICATION NO.1476/2022

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PRESIDED OVER BYMRIDULESH KUMAR SINGH

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DATE OF INSTITUTION: 15.07.2022

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DATE OF DECISION: 25.11.2025

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State Bank of India, a body corporate constituted under the State Bank of India 1955(23 of 1955) having its Corporate office at State Bank Bhawan, Madame Cama Road, Nariman Point, Mumbai and having one of its Local Head Office at Sector-17-A, Chandigarh including one such branch at Samana (ADB) District Patiala, Punjab through its chief manager, Sh. Sandeep Kumar Bajaj.

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……. Applicant

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Versus

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Sh. Ankoh Singh S/o Sh. Kandhara Singh R/o Village Bhagwanpura, Tehsil Samana District Patiala, Punjab.

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……. Defendant

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Advocates:

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Argued by Sh. Rishab Gupta, Advocate proxy for Sh. Gaurav Singla, Advocate for Applicant

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Defendant already ex-parte

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FINAL ORDER

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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.21,70,170.00p (Rupees Twenty One Lacs Seventy Thousand One Hundred Seventy Only). The Original Application has been filed through, Sh. Sandeep Kumar Bajaj, Chief Manager of the applicant, who is competent to institute the Original Application vide Gazette Notification published in Gazette of India dated 26.09.1959, 26.08.1972, 02.05.1987 under Regulation 76 read with 77 of State Bank of India General Regulation framed in exercise of powers conferred by sub-section 3 of section 50 of State Bank of India Act, 1955 with previous sanction of the Central Government.

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The brief facts of the OA are that the defendant had approached the applicant for grant of KCC Limit of Rs.3.00 Lacs, Agri. Term Loan of

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2 OA NO. 1476/2022 STATE BANK OF INDIA VS SH. ANOKH SINGH

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Rs. 4.00 Lacs under KGC vide loan applications dated 22.11.2013, which are Annexures A2 & A2-A, & A3 to this OA and approached another Term Loan of Rs. 4.50 Lacs under Rural Infrastructure Scheme and Term Loan of Rs. 1.00 Lac for Debt Swap vide loan application dated 11.12.2015, which are Annexures A4 and A5 to this OA.

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The applicant sanctioned KCC Limit of Rs.3.00 Lacs, Agri. Term Loan of Rs. 4.00 Lacs under KGC, Term Loan of Rs. 4.50 Lacs under Rural Infrastructure Scheme and Term Loan of Rs. 1.00 Lac for Debt Swap vide Sanctions letters dated 25.11.2013, 17.12.2015 and 18.12.2015, which are Annexures A6 to A9 to this OA.

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Defendant had mortgaged his immovable properties i.e. Land measuring 27K-15M situated at Village Khatriwala @ Bhagwanpura, Tehsil Samana, District Patiala, Punjab vide Registered Mortgaged Deed bearing vasika no.2255 dated 04.12.2013 along with translation, which are Annexures A14 and A14A to this OA; Mutation sanction letter dated 04.12.2013, along with translation, which are Annexures A15 and A15A to this OA; Declaration u/s 4(1) dated 17.12.2015, along with its translation, which are Annexures A16 and A16A to this OA.

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Documents executed : - Gazette Notification dated 20.03.2017, which is Annexure A1 to this OA; Hypothecation agreements dated 06.12.2013, 18.12.2015, which are Annexures A10 to A13 to this OA; Legal notice dated 21.06.2022 along with postal receipts, which is Annexure A17 to this OA and statement of account and certificate under Banker’s Books Evidence, which are Annexures A18 to A25 to this OA.

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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.21,70,170.00p, 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.

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3 OA NO. 1476/2022 STATE BANK OF INDIA VS SH. ANOKH SINGH

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The defendant was served notices to appear before this Tribunal but no one appeared on behalf of defendant and he was proceeded exparte on 30.04.2024.

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In support of the OA, affidavit of Sh. Sandeep Kumar Bajaj, Chief Manager, State Bank of India, has been filed.

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Heard ex-parte arguments and perused record.

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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 A25 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 loans 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.21,70,170.00p (Rupees Twenty One Lacs Seventy Thousand One Hundred Seventy Only) along with interest from the defendant, from the date of filing of the present Original Application till realization of the account. 10. In so far as pendente lite and future rate of interest is concerned, the applicant in relief clause has claimed interest @7.00%p.a. with 2% penal interest with half yearly rest in KCC, interest @13.20%p.a. with 2% penal interest with half yearly rest in KGC, @12.60%p.a. with 2% penal interest with half yearly rest in Term Loan (Rural Infrastructure Scheme), @11.40%p.a. with 2% penal interest with half yearly rests in Debt Swap Term Loan from 24.06.2022 till the realization.

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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

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4 OA NO. 1476/2022 STATE BANK OF INDIA VS SH. ANOKH SINGH

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years, while exercising the discretion vested in this Tribunal, this Tribunal deems it just and appropriate to grant uniform simple interest @07.00%p.a. in all 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.

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In the result, the application is allowed declaring that the defendant is liable to pay to the applicant a total sum of Rs.21,70,170.00p (Rupees Twenty One Lacs Seventy Thousand One Hundred Seventy Only) with costs, current and future simple interest @07.00%p.a. in all 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 hypothecated/mortgaged properties 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 05.12.2025. 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: 25.11.2025. (MRIDULESH KUMAR SINGH) Presiding Officer, DRT-III, Chandigarh

State Bank of India v. Sh. Anokh Singh

Case brief

What is this about?

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State Bank of India v. Sh. Anokh Singh

Case brief

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