Allowed

Punjab and Sind Bank v. Gurdial Singh

DRT29 Sept 2025OA/167/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the bank's application for recovery of Rs. 28,84,614.70 with interest against the deceased borrower's legal heirs and a guarantor, directing the issuance of a Recovery Certificate for enforcement against mortgaged land and personal assets.

What did the court decide?

Recovery of Rs. 28,84,614.70 with interest; issuance of Recovery Certificate; directive to recover from mortgaged land and personal assets.

Punjab and Sind Bank versus Gurdial 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: 167 of 2022 Date of Institution: 15.01.2022 Date of Decision: 29.09.2025

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Punjab & Sind Bank having its branches all over India and a branch at Mehtiana-Hoshiarpur, Punjab.

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……..Applicant

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Vs.

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Gurdial Singh s/o Sh. Gurdit Singh r/o VPO Phuglana, Tehsil & District Hoshiarpur since deceased through his Legal heirs:-

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a. Sh. Balvir Singh s/o Gurdial Singh r/o VPO Phuglana, Tehsil & District Hoshiarpur, Punjab.

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b. Sh. Jasbir Singh s/o Gurdial Singh r/o VPO Phuglana, Tehsil & District Hoshiarpur

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Sh. Gumrit Singh s/o Milkhi Ram r/o VPO Phuglana, Tehsil & District Hoshiarpur

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……….Defendants

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Advocates

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Sh. Rahul Verma, Nodal Officer for the applicant bank. Defendants - ex parte .

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OA for the Recovery of Rs.28,84,614.70p with interest @10.15% per annum with half-yearly rests from 15.01.2022.

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ORDER

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Punjab & Sind 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.28,84,614.70p with interest against Sh. Gurdial Singh and another (defendants).

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Bank’s case is that on 09.10.2013, it had granted a loan of Rs.10.00Lacs to defendant no.1 in the form of K.C.C. Limit for agricultural purpose. Defendant no.1 is deceased and now represented through his Legal Heirs. To secure the loan, Defendant no.1 had mortgaged his land (fully detailed in para No.3A of the application).

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Defendant no.2 stood as the guarantor. The loan was chargeable to interest @10.15% per annum with half-yearly rests. The defendants had acknowledged the liability towards the debt on 10.06.2016 & 17.01.2019. On 02.01.2022, a sum of Rs.28,84,614.70p was due from the defendants. Despite repeated requests, defendants did not make the repayment. Hence, this application.

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On 21.03.2022, summonses were sent to the defendants by registered post, which were duly served. However, defendants did not put in appearance. Vide order dated 29.05.2024, they were proceeded ex parte .

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In order to prove its case, the Bank has placed on record the affidavit of Mr. Vishal, Manager along with the loan and security documents and marked them as Exhibit A-1 to A-22. 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.10.00Lacs and on 02.01.2022, a sum of Rs.28,84,614.70p was due. 6. Accordingly, the application of the bank for the recovery of Rs.28,84,614.70p (Rupees Twenty Eight Lacs Eighty Four Thousand Six Hundred Fourteen and Seventy Paise Only) with interest @10.15% per annum with half-yearly rests from 15.01.2022, till the date of payment is hereby allowed with costs. The liability of Legal Heirs of defendant no.1 would be limited to the extent of property inherited by them from Gurdial Singh whereas the liability of Defendant no. 2 would be liable for the whole decretal amount. 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 no.2. 7. Pending IAs, if any, stand disposed of.

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Recovery Certificate be issued accordingly.

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Parties are directed to appear before Recovery Officer on 03.11.2025, who is directed to distribute the sale proceeds of the mortgaged property(ies) and standing crops as per the provisions of Section 19(20-AB) of the Act .

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A Copy of this order along with Recovery Certificate be sent to the Recovery Officer as well as the parties.

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Pronounced in the open Court. (A S Narang) Dated: 29.09.2025 Presiding Officer DRT-1, Chandigarh

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Amanpreet (Law Researcher)

Punjab and Sind Bank v. Gurdial Singh

Case brief

What is this about?

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Punjab and Sind Bank v. Gurdial Singh

Case brief

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