Allowed

Canara Bank v. Sohan Singh

DRT17 Apr 2025OA/1666/2023

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed an application filed by Canara Bank for the recovery of Rs. 73.60 Lakhs with interest against Sh. Sohan Singh. The court directed the issuance of a Recovery Certificate and mandated the Recovery Officer to sell mortgaged properties.

What did the court decide?

Recovery of Rs. 73,60,208.80 with interest; issuance of Recovery Certificate; manual distribution of sale proceeds.

Canara Bank versus Sohan Singh — Banking and Recovery | 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: 1666 of 2023 Date of Institution: 20.08.2023 Date of Decision: 17.04.2025

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Canara Bank having its branches all over India and a branch at Jalandhar Pathankot Road Branch, Basra Complex, District Jalandhar, Punjab.

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……..Applicant Vs. Sohan Singh s/o Sh. Balwinder Singh VPO Kala Bakra, tehsil Jalandahr, District Jalandhar, Punjab. ……….Defendant

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Advocates

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Ms. Sonal, proxy Counsel for Sh. Parveen Kumar Rohilla, Counsel for the applicant bank. Defendant - ex parte .

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OA for the Recovery of Rs.73,60,208.80p with interest @9.50% per annum with half-yearly rests from 20.08.2023.

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ORDER

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Canara Bank (Bank) has filed this application under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993 (RDB Act) for the recovery of Rs. 73,60,208.80p with interest against Sh. Sohan Singh (defendant).

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Bank’s case is that on 16.07.2008, it had granted a loan of Rs.10.00 Lacs to defendant in the form of K.C.C Limit for agricultural purpose which was renewed and enhanced from time to time and lastly renewed and enhanced to Rs.45.00 Lacs on 10.11.2015. To secure the loan, Defendant had mortgaged his land (fully detailed in para No.3A of the application). The loan was chargeable to interest @9.50% per annum with half-yearly rests. On 31.03.2023, a sum of Rs. 73,60,208.80p was due from the defendant. Despite repeated requests, defendant did not make the repayment. Hence, this application.

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On 10.10.2023, summons was sent to the defendant by registered post, which was duly served. However, defendant did not put in appearance. Vide order dated 21.10.2024, he was proceeded ex parte .

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In order to prove its case, the Bank has placed on record the affidavit of Mr. Raman Kumar, Senior Manager along with the loan and security documents and marked them as Exhibit A-1 to A-33. 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.45.00 Lacs and on 31.03.2023, a sum of Rs. 73,60,208.80p was due. 6. Accordingly, the application of the bank for the recovery of Rs.73,60,208.80p (Rupees Seventy Three Lacs Sixty Thousand Two Hundred Eight and Eighty Paise Only) with interest @9.50% per annum with half-yearly rests from 20.08.2023, till the date of payment is hereby allowed with costs. Bank can recover its dues by the sale of mortgaged land fully detailed in para No.3A) of the application as well as from the personal movable and immovable property(ies) of the defendant.

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Pending IAs, if any, stand disposed of. 8. Recovery Certificate be issued accordingly. 9. Party is directed to appear before Recovery Officer on 20.05.2025, who is directed to distribute the sale proceeds of the mortgaged land and standing crops as per the provisions of Section 19(20-AB) of the Act . 10. A Copy of this order along with Recovery Certificate be sent to the Recovery Officer as well as the party. Pronounced in the open Court. (A S Narang) Dated: 17.04.2025 Presiding Officer DRT-1, Chandigarh Amanpreet (LR)

Canara Bank v. Sohan Singh

Case brief

What is this about?

What did the court decide?

Canara Bank v. Sohan Singh

Case brief

What is this about?

What did the court decide?

What the court decided

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