Allowed

Punjab Gramin Bank v. Sh. Hardeep Singh

DRT28 Oct 2025OA/159/2025

Case brief

AI extract

What is this about?

An ex-parte order allowing an applicant's application for recovery of outstanding loans against a defendant despite defective date in status of judgment (should be 'i976').

What did the court decide?

Recovery of Rs. 40,69,361.47p with interest at 8% p.a. from filing date; issuance of Recovery Certificate; authority to recover from sale of mortgaged property or personal assets.

Punjab Gramin Bank versus Sh. Hardeep Singh — Consumer Protection | DRT (2025)

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DEBTS RECOVERY TRIBUNAL-III, CHANDIGARH

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ORIGINAL APPLICATION NO.159/2025

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PRESIDED OVER BY MRIDULESH KUMAR SINGH

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DATE OF INSTITUTION: 28.01.2025

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DATE OF DECISION: 28.10.2025

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Punjab Gramin Bank, a body corporate constituted under the provisions of Regional Rural Bank Act 1976 (Act No.21 of i976) having its Head office at Markfed Road, Kapurthala and amongst others a branch office at Nathu Chahal, Tehsil and District Kapurthala through Sh. Girish Sharma son of Sh. Romesh Chander, Branch Manager, General Attorney and Principal Officer of applicant.

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……..Applicant Versus Sh. Hardeep Singh son of Sh Swaran Singh resident of Village Dolo Arayi, Tehsil and District Kapurthala, Punjab.

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…….Defendant

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Advocates:

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Argued by Sh. Yogesh Kumar, Advocate proxy for Sh. Manish 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.40,69,361.47p (Rupees Forty Lacs Sixty Nine Thousand Three Hundred Sixty One & Forty Seven Paise Only). The Original Application has been filed through Sh. Girish Sharma Branch Manager, of the applicant, who is competent to institute the Original Application vide Power of Attorney dated 25.10.2019, which is Annexure A1 to this OA.

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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.18.00 Lacs, vide Loan Application dated 01.02.2014 and Term Loan of Rs. 1.00 Lacs for Debt

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2 OA NO. 159/2025 PUNJAB GRAMIN BANK VS SH. HARDEEP SINGH

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Swap vide Loan Application dated 18.08.2015, which is Annexure A5 to this OA. Thereafter, the defendant again approached the applicant for Term Loan of Rs. 75,000/- & CC Limit of Rs. 25,000/- vide Loan Application dated 06.07.2017.

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The applicant sanctioned KCC Limit of Rs.18.00 Lacs, vide sanction dated 03.02.2014, which is Annexure A2 to this OA; Term Loan of Rs. 1.00 Lac for Debt Swap vide sanction letter, which is Annexure A6 to this OA and thereafter, sanctioned Term Loan of Rs. 75,000/- and CC Limit of Rs. 25,000/- vide sanction dated 06.07.2017, which is Annexure A8 to this OA.

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Defendant had mortgaged his immovable properties i.e. land measuring 24K-00M situated at Village Dolo Aryai, Tehsil and District Kapurthala, Punjab vide Registered Mortgaged Deed bearing vasika no.4078 dated 05.02.2014, along with its translation which is Annexure A4 to this OA.

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Documents executed : - Hypothecation agreements dated 12.02.2014, 21.08.2015, 06.07.2017, which are Annexures A3, A7 & A9 to this OA; Balance confirmations letters dated 12.01.2017, 02.09.2019, 25.01.2022, 19.05.2018, 05.02.2021, 01.11.2023, 30.12.2019, 05.05.2022, 19.09.2024, which are Annexures A10 to A13 to this OA; Notice dated 22.09.2024, which is Annexure A14 to this OA and Statements of Accounts, which are Annexures A15 to A18 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.40,69,361.47p, 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. 159/2025 PUNJAB GRAMIN BANK VS SH. HARDEEP 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 23.10.2025.

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In support of the OA, affidavit Sh. Girish Sharma, Branch Manager, Punjab Gramin Bank, 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 A18 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.40,69,361.47p (Rupees Forty Lacs Sixty Nine Thousand Three Hundred Sixty One & Forty Seven Paise Only) along with interest from the defendant, from the date of filing of the present Original Application till realization of the accounts.

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In so far as pendente lite and future rate of interest is concerned, the applicant in relief clause has claimed interest @14.35%p.a. in KCC, interest @12.50%p.a. Term Loan for Debt swap, interest @12.50%p.a. in TL & interest @9%p.a. in CC Limit with 2% penal interest in all accounts with half yearly rests from 28.01.2025 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, undertaking

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4 OA NO. 159/2025 PUNJAB GRAMIN BANK VS SH. HARDEEP SINGH

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of the defendant, quantum of loan and prevalent market rates of interest which have gone drastically downhill in yester years, while exercising the discretion vested in this Tribunal, this Tribunal deems it just and appropriate to grant uniform simple interest @08.00%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.40,69,361.47p (Rupees Forty Lacs Sixty Nine Thousand Three Hundred Sixty One & Forty Seven Paise Only) with costs, current and future simple interest @08.00%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.

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12. Any other application pending stands disposed of.

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Issue Recovery Certificate accordingly.

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Parties to appear before Learned Recovery Officer of this

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Tribunal on 07.11.2025.

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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.

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Pronounced by me in the open Tribunal .

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Dated: 28.10.2025.

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(MRIDULESH KUMAR SINGH) Presiding Officer, DRT-III, Chandigarh

Punjab Gramin Bank v. Sh. Hardeep Singh

Case brief

What is this about?

What did the court decide?

Punjab Gramin Bank v. Sh. Hardeep Singh

Case brief

What is this about?

What did the court decide?

What the court decided

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