Allowed

State Bank of India v. Sh Sukhpreet Singh

DRT20 Feb 2025OA/1708/2022

Case brief

AI extract

What is this about?

Bank applied for recovery of loan dues against the legal representative of a deceased borrower who mortgaged agricultural land. The Tribunal upheld the claim and allowed recovery through the sale of the mortgaged property.

What did the court decide?

Application allowed; recovery of Rs.28,74,384/- with interest; Recovery Certificate issued; Recovery Land Officer directed to distribute sale proceeds.

State Bank of India versus Sh Sukhpreet 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: 1708/2022 Date of Institution: 16.08.2022 Date of Decision: 20.02.2025

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SBI, one of its branch at Handiaya, District Barnala, Punjab.

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……..Applicant Vs.

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Sh. Sukhpreet Singh S/o Sh. Tarlochan Singh, R/o Village Dhanaula Khurd, Tehsil and District Barnala, Punjab – 148107, since deceased through his following LR:Smt. Paramjit Kaur, mother of deceased Sh. Sukhpreet Singh, R/o Village Dhanaula Khurd, Tehsil and District Barnala, Punjab – 148107.

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……….Defendant

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Advocates

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Sh. Pankaj Beri, Counsel for the applicant bank. Defendant – ex parte

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OA for the Recovery of Rs.28,74,384/- with interest @11.75% per annum with half yearly rests from 16.08.2022.

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ORDER

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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.28,74,384/- with interest against Sh. Sukhpreet Singh since deceased through his LR (Defendant).

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Bank’s case is that on 25.07.2014, it had granted a KCC Limit of Rs.19.50 Lacs to Sh. Sukhpreet Singh (now deceased) for agricultural purpose. To secure the loan, Sh. Sukhpreet Singh (now deceased) had mortgaged his agricultural land (fully detailed in para No.3(A) of the application). The loan was chargeable to interest @11.75% per annum with half yearly rests. On 09.07.2022, a sum of Rs.28,74,384/- was due from the defendant. Despite repeated requests, defendant did not make the repayment. Hence, this application.

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On 01.11.2022, summons was sent to the defendant by registered post, which was duly served. However, defendant did not put in appearance. Vide order dated 06.11.2023, she was proceeded ex parte . 4. In order to prove its case, the Bank has placed on record the affidavit of Mr. Nagendra Singh, Branch Manager along with the loan and security documents and marked them as Exhibit A-1 to A-6. 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.19.50 Lacs and on 09.07.2022, a sum of Rs.28,74,384/- was due. 6. Accordingly, the application of the bank for the recovery of Rs.28,74,384/- (Rupees Twenty Eight Lacs Seventy Four Thousand Three Hundred and Eighty Four Only) with interest @11.75% per annum with half yearly rests from 16.08.2022, till the date of payment is hereby allowed with costs. Bank can recover its dues by the sale of mortgaged agricultural land fully detailed in para No.3(A) of the application. The LR of Sh. Sukhpreet Singh, would be liable to the extent of property inherited by her from Sh. Sukhpreet Singh (Deceased). 7. Pending IAs, if any, stand disposed of. 8. Recovery Certificate be issued accordingly. 9. Parties are directed to appear before Recovery Officer on 24.03.2025, who is directed to distribute the sale proceeds of the mortgage land and standing crops as per the provisions of Section 19(20AB) of the Act . 10. 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: 20.02.2025 Presiding Officer DRT-1, Chandigarh Pankaj

State Bank of India v. Sh Sukhpreet Singh

Case brief

What is this about?

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State Bank of India v. Sh Sukhpreet Singh

Case brief

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What the court decided

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