Allowed

State Bank of India v. Sh. Teg Bahadur Singh

DRT10 Feb 2025OA/1658/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed an application filed by the State Bank of India for the recovery of Rs. 28,28,735/- plus interest against two defendants. The court observed that the bank proved its case regarding loan advance, default, and security, permitting realization through sale of mortgaged properties.

What did the court decide?

Application allowed for recovery of Rs. 28,28,735/- with interest; Recovery Certificate issued; Joint and several liability of defendants directed.

State Bank of India versus Sh. Teg Bahadur Singh — Contract and Commercial Disputes | DRT (2025)

¶1

IN THE DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH

¶2

BEFORE: A S NARANG, PRESIDING OFFICER

¶3

OA No: 1658/2022 Date of Institution: 10.08.2022 Date of Decision: 10.02.2025

¶4

SBI, having its branches all over India and a branch at Village Chanarthal Kalan, Tehsil and District Fatehgarh Sahib, Punjab.

¶5

……..Applicant

¶6

Vs.

¶7

Sh. Teg Bahadur Singh s/o Sh. Gurdev Singh, r/o VPO Roorki, Tehsil and District Fatehgarh Sahib.

¶8

Smt. Rupinder Kaur w/o Sh. Teg Bahadur Singh, r/o VPO Roorki, Tehsil and District Fatehgarh Sahib.

¶9

……….Defendants

¶10

Advocates

¶11

Ms. Sakshi Chuahan, proxy counsel for Gruinderjit Singh, Counsel for the applicant bank.

¶12

Defendants - ex parte .

¶13

OA for the Recovery of Rs.28,28,735/- with interest @12.75% per annum with half-yearly rests from 10.08.2022.

¶14

ORDER

¶15

SBI (Bank) has filed this application under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993 (RDB Act) for the recovery of Rs.28,28,735/- with interest against Sh. Teg Bahadur Singh and another (defendants).

¶16

Bank’s case is that on 16.09.2013, it had granted a loan of Rs.20.00 Lacs in the form of P.B.K.C. Limit and on 24.09.2013, it had also granted a loan of Rs.20.00 Lacs to defendant No.1 under KGC scheme, for agricultural purpose. To secure the loan, Defendant No.1 had mortgaged his land (fully detailed in para No.3A) of the application). Defendant No.2 stood as guarantor. The loan were chargeable to interest @12.75% per annum with half-yearly rests. On 27.07.2022, a sum of

¶17

¶18

Rs.28,28,735/- was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application. 3. On 30.08.2022, summonses were sent to the defendants by registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 16.05.2023, they were proceeded ex parte .

¶19

In order to prove its case, the Bank has placed on record the affidavit of Sh. Rakesh Kumar, Branch Manager along with the loan and security documents and marked them as Exhibit A-1 to A-20. 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.40.00 Lacs and on 27.07.2022, a sum of Rs. 28,28,735/- was due. 6. Accordingly, the application of the bank for the recovery of Rs. 28,28,735/- (Rupees Twenty Eight Lacs Twenty Eight Thousand Seven Hundred and Thirty Five Only) with interest @12.75% per annum with half-yearly rests from 10.08.2022, till the date of payment is hereby allowed with costs. The liability of all the defendants would be joint and several. Bank can recover its dues by the sale of mortgaged property fully detailed in para No.3A) of the application as well as from the hypothecated/personal movable and immovable property 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 12.03.2025, who is directed to distribute the sale proceeds of the mortgaged property and standing crops as per the provisions of Section 19(20-AB) of the Act .

¶20

¶21

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: 10.02.2025 Presiding Officer DRT-1, Chandigarh

State Bank of India v. Sh. Teg Bahadur Singh

Case brief

What is this about?

What did the court decide?

State Bank of India v. Sh. Teg Bahadur Singh

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

Coram

Case details

Similar cases

Ms Mahakali Agro Processing Co. versus Bank of India

Smt. Kumari Sushma Devi alias Shsma Kumari versus Central Bankof India

Ms Ram Traders versus Canara Bank

Ms a K Bhadhan versus Uco Bank

Ms Zenith Surgical Company Ors. versus Yes Bank

Icici Bank Limited versus M/s Vedavit Logistics Private Limited and others